Private equity firms are rushing to bet on financial technology.

Permira Capital Partners, Advent International and Bain Capital have all recently announced acquisitions of payment processors in the hope of capitalizing on the cashless zeitgeist. The Blackstone Group and CVC Capital Partners, which just offered $3.7 billion for Paysafe of Britain, are placing a double wager.

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StreetLevel Investments sold Twin Creeks Marketplace in Allen, Texas, to Vestar. The 43,134-square-foot, grocery-anchored neighborhood center was fully leased at the time of sale.

Vestar acquired Twin Creeks Marketplace—a 43,134-square-foot grocery-anchored neighborhood center in Allen, Texas—from StreetLevel Investments. The sale was subject to an $8.7 million, 15-year term permanent loan from the Lincoln National Life Insurance Co. Earlier this year, Vestar also led the rebranding process and a strategic leasing campaign for Crockett Row at West 7th, a Fort Worth shopping center.

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  • Japan investment in Indian equities rises to highest on record
  • South Asian economy seen as providing long-term growth

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The land of Abenomics is betting on Modinomics.

The demand is so strong that assets of Nomura Holdings Inc.’s India equity fund quadrupled to almost 400 billion yen ($3.6 billion) in just the past year. Japanese investors owned $13 billion of Indian stocks and bonds at the end of June, the most in data going back to 2012, according to India’s regulator…

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The biopharmaceutical manufacturer will create 100 jobs to accommodate growth in Aiken County, S.C. The expansion project will add 50,000 square feet to the company’s existing facility.

AmbioPharm Inc., a peptide and biopharmaceutical manufacturing company in North Augusta, S.C., plans to expand its existing Aiken County operations. The extension is projected to bring $18 million of new capital investment and lead to the creation of 100 jobs over the next five years.

Located at 1024 Dittman Court, AmbioPharm is near Interstate 520. The company will start constructing two additional freestanding buildings, totaling 50,000 square feet, and purchasing additional equipment. The Coordinating Council for Economic Development approved job development credits related to this project…

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Despite a slowly shrinking population, the city’s multifamily market remains steady, bolstered by increased hiring in recession-resistant sectors. Through May, rents rose 0.3 percent, trailing the nation’s 1.5 percent rate, Yardi Matrix data shows.

Once a predominantly blue-collar city, Pittsburgh today relies on a diversified innovation economy and a highly educated workforce. University-based research is focused on life sciences, information technology and robotics, which are major economic drivers for both the region and nation.

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  • Noah’s Gopher China equity fund cuts exposure to ADRs
  • Fund also adds tactical traders in preparation for volatility

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Noah Holdings Ltd., which manages the best-performing emerging markets fund of hedge funds, has cut China-related American depository receipts by about one-third this year after shares surged, while adding to yuan-denominated shares listed on the mainland.

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IFA will build a 234,000-square-foot manufacturing facility in Summerville, S.C. The company intends to create more than 120 jobs in the coming years.

IFA, a direct supplier of propshafts for passenger cars and light commercial vehicles, is constructing a new manufacturing and distribution facility in Summerville, S.C. The 234,000-square-foot development represents a $69 million investment and is projected to create approximately 120 new job.

Located at 479 Trade Center Parkway, the new facility will provide easy access to Interstate 26. The Coordinating Council for Economic Development approved a $150,000 job development credit related to this Berkeley County project…

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The transaction includes 200 franchised hotels, as well as management company Three Rivers Hospitality. The portfolio totals 11,600 rooms and a pipeline of 23 projects.

Wyndham Hotel Group is about to experience a growth spurt. The company, a leader in the midscale lodging segment, has entered into an agreement to acquire the AmericInn hotel brand and its management company, Three Rivers Hospitality, from Northcott Hospitality. Wyndham will shell out $170 million on the purchase, which will enhance its holdings by 200 primarily franchised hotels totaling 11,600 rooms, and a pipeline of 23 projects.

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  • Canada gutted its science budget a decade ago under Harper
  • The sky didn’t fall, but a slow-motion decline ensued

No modern American president has been more hostile to federal support for the sciences than Donald Trump. In the six months since he became president, he’s fired scientists, removed scientific data from federal websites, proposed a budget that deeply cuts research and appointed science skeptics to head the Environmental Protection Agency and the Department of Energy.

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Washington Prime Group intends to spend $17 million on the transformation of Markland Mall into a hybrid shopping center, which incorporates both enclosed and open air spaces.

Washington Prime Group Inc. will redevelop Markland Mall in Kokomo, Ind., by investing $17 million in the addition of several new open-air retail spaces. As part of the approximately 84,000-square-foot renovation, the company plans to bring new tenants into the spaces formerly occupied by a department store. This anchor space was previously occupied by Sears, which closed following a lease expiration.

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HFF secured the three-year loan through Ares Commercial Real Estate Corp. The seven buildings are located in Plano and Carrollton.

Dallas-based Billingsley Co. has refinanced a seven-building office portfolio totaling 801,153 square feet at the International Business Park located in Plano and Carrollton, Texas, through a $110 million loan secured by HFF. The company arranged the three-year, floating-rate, non-recourse loan with two one-year extension options through Ares Commercial Real Estate Corp.

Proceeds of the loan will be used to refinance the existing debt and fully stabilize the property. The new financing replaces a $102.5 million CMBS loan placed Oct. 1, 2007, through Wells Fargo Bank that was originated by Bank of America and was due to mature in October of this year, according to Yardi Matrix data…

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  • Once an Obama backer, and in the past a critic of Trump
  • His ‘fund of funds’ SkyBridge to be sold to Chinese buyer

Anthony Scaramucci, the Trump administration’s just-hired communications director, has a lot in common with his new boss.

Both made it in Manhattan after coming from the city’s outskirts. Both enjoy the limelight, attracting attention by writing books and hosting TV shows. And both are best known within their industries for their salesmanship…

Scaramucci Brings Wall Street Pitchman Skills to White House

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LONDON — As more people shop online, the race is heating up to grab a slice of the infrastructure that makes e-commerce go.

Financial companies are targeting the firms that process payments over the internet, and on Friday, the private equity groups Blackstone and CVC Capital Partners teamed up to make a 2.9 billion pound, or $3.7 billion, preliminary offer for Paysafe, a British payments processor.

Paysafe is among a growing number of companies that have taken advantage of the increased prevalence of mobile payments and online shopping, jostling with traditional banks, as well as industry behemoths like PayPal…

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The developer plans to build in downtown Minneapolis as part of a block of development that includes an apartment tower, brewery and its own new headquarters.

After arranging a $14 million loan for the construction of an 81-unit, market-rate community in Boise, Idaho, CBRE Capital Markets’ Debt & Structured Finance secured a $26.9 million, three-year, non-recourse loan for the Elliot Park Hotel, a 168-key hotel by Marriott located in downtown Minneapolis. The company worked on behalf of Wilkinson Corp. Bank of the Ozarks served as the senior lender.

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  • Real-estate shares’ premium to wider market at four-year high
  • Sector will benefit from expanding economy, BDO Unibank says

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Philippine real-estate stocks will extend a market-beating rally, the country’s biggest money manager is betting, unfazed by the most expensive valuation in four years.

The Philippine Stock Exchange Property Index has climbed 24 percent this year as investors became more sanguine about President Rodrigo Duterte’s pivot to China and his U.S. counterpart’s insular approach to trade, which could hurt outsourcing companies. The measure now commands the highest premium since 2013 over the stock benchmark, which is up 17 percent…

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People who rely on their company pension plans to fund their retirement may be in for a shock: Of the 200 biggest defined-benefit plans in the S&P 500 based on assets, 186 aren’t fully funded. Simply put, they don’t have enough money to fund current and future retirees. The situation worsened for more than half of these funds from fiscal 2015 to 2016. A big part of the reason is the poor returns they got from their assets in the superlow interest-rate environment that followed the financial crisis. It’s left a hole of $382 billion for the top 200 plans.

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Expanding its New York operations, law firm Greenspoon Marder has leased some 25,000 square feet of space at 590 Madison Ave. The property is currently 80.5 percent occupied.

Two months after Colony Northstar leased part of the 33rd and 34th floors of 590 Madison Ave., Greenspoon Marder has relocated its New York office to the 41-story building. The law firm occupies the 18th floor, encompassing nearly 25,000 square feet of office space. According to Yardi Matrix data, the property is 19.5 percent vacant.

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Rent growth has been decelerating since it reached double-digit levels in 2015. As of May, the metro’s $2,675 average rent was more than double the national average of $1,316, according to Yardi Matrix.

Silicon Valley is the nation’s largest tech hub, a top-performing venture capital market and one of the most prominent locations for startups. The metro continues to thrive as an attractive destination for businesses and young, educated workers, as a result of consistent employment and wage growth. However, the rental market is cooling as San Jose becomes increasingly unaffordable, even for higher-paid workers. Rents dropped 1.3 percent year-over-year through May to $2,675, more than double the national average.

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  • Fund will only dole out loans if it deems debt sustainable
  • Government monitoring bond market conditions for possible sale

The International Monetary Fund agreed to a new conditional bailout for Greece, ending two years of speculation on whether it would join in another rescue and giving the seal of approval demanded by many of the country’s euro-area creditors.

The Washington-based fund said Thursday its executive board approved “in principle” a new loan worth as much as $1.8 billion. The disbursement of funds is contingent on euro-zone countries providing debt relief to Greece…

Greece Approved for $1.8 Billion Conditional Loan From IMF

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The new tenant will relocate its headquarters later this year and will occupy the 18th floor of the office building which is currently under renovation.

Feldman Equities has signed a new lease with CAPTRUST Advisors LLC at Park Tower, a 475,000-square-foot office tower in downtown Tampa. The tenant will relocate its headquarters and will occupy an approximately 10,500-square-foot space at the Class A building.

Located at 400 N. Tampa St., Park Tower is currently undergoing an expansive renovation program anticipated for completion in the first quarter of 2018. CAPTRUST will occupy Park Tower’s 18thfloor and will relocate to its new space later this year, after almost 20 years in the CAPTRUST building at 102 W. Whiting St. That property is scheduled for demolition as part of Feldman’s Riverwalk development…

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The transaction includes 35 assets totaling 11.6 million square feet, fully occupied. The properties are primarily in Germany and the Netherlands, with smaller footprints in France, Poland and the U.K.

Gramercy Property Europe has completed its previously announced sale of all of its assets to a consortium of clients managed by AXA Investment Managers—Real Assets.

The deal’s total gross valuation reportedly is about €1.0 billion ($1.1 billion), with an exit cap rate of about 6.2 percent. The transaction resulted in net distributions to Gramercy Property Trust of €90.8 million ($103.8 million).

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Banks are running out of options to lease large amounts of office space in Frankfurt following the U.K.’s vote to leave the European Union.

“The vacancy rate has slipped below the 10 percent level” and there is a growing shortage of bigger office buildings in central areas, BNP Paribas SA’s real estate broker unit wrote in a report on Thursday. “In view of the anticipated increase in demand by banks in connection with Brexit, this shortage looks set to intensify in the months ahead.”…

Frankfurt Is Already Running Out of Office Space for Banks

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The company plans to redevelop the student housing into conventional apartments. Renovations will be made to the unit interiors, as well as to the exterior.

Waypoint Residential continues its round of student housing purchases with the addition of a 288-unit community located in Tallahassee, Fla. This time, the company plans to redevelop the property from student housing to conventional apartments.

WAYPOINT’S RENOVATION PLAN

Located near various retail and transportation options, the redevelopment includes amenities such as a fitness center, a computer lab, business center, conference room, movie theater, swimming pool, a full-size basketball court and a sand volleyball court…

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  • Sentry Small/Mid Cap Income Fund targets oligopolies
  • Likes ‘nice and safe’ but doesn’t want to pay for it

With Canada’s small-cap market dominated by downtrodden energy and materials stocks, fund managers that specialize in the sector are looking further afield.

Sentry Small/Mid Cap Income Fund, the country’s top performing small-cap fund with assets of more than C$1 billion ($794 million), is finding some of its highest returns in a global concert promoter, a U.S. medical testing company, and a casino operator…

Casinos, Concerts Allow Top Fund to Avoid Dismal Canada Market

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  • Bank lost a third of its equities market share since 2015
  • Executives have pledged to ‘defend and grow’ stocks business

In October 2015, Credit Suisse Group AG Chief Executive Officer Tidjane Thiam and the head of its markets unit, Timothy O’Hara, laid out their vision for a business they said would be key to overhauling one of the world’s biggest investment banks.

“Credit Suisse has consistently been a top-three trader of global stocks since 2010,” O’Hara, a 27-year veteran of the bank, told investors who had gathered in London. “It’s important to us that we invest in our content and execution capabilities to defend and grow our equities franchise.”

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Cushman & Wakefield’s top Tri-State executives and brokers discussed the evolving retail sector and how it’s intersecting with industrial, the positive and uncertain aspects of New York City’s real estate market, and more at the firm’s recent mid-year outlook presentation.

“The office market for 2017 continues to look promising…and we think we’re going to finish strong. Challenges and what remains to be seen is what happens in the coming years as additional inventory comes to the market and there’s continued densification in the market,” noted John Santora, Cushman & Wakefield’s vice chairman & president of the Tri-State Region, at the firm’s mid-year 2017 outlook on the region’s commercial real estate industry.

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  • SEC, in letters, says two whistle-blowers will share award
  • Award stems from bank’s $307 million settlement over conflicts

Two whistle-blowers are set to share a record $61 million award from the Securities and Exchange Commission for helping make the case that JPMorgan Chase & Co. failed to disclose to wealthy clients that it was steering them into investments that would be most profitable for the bank.

The SEC issued letters on Wednesday notifying six whistle-blower applicants of the preliminary decision. The letters said that two of them would share almost a quarter of the record asset-management settlement that the SEC reached with the bank in December 2015…

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The new owner acquired the industrial property in Littleton, Mass., and inked a 10-year lease with Premier Health Group LLC, an affiliate of a non-profit that provides organic medicinal marijuana to qualified patients.

Calare Properties purchased 234 Taylor St. in Littleton, Mass. The new owner secured a 10-year absolute net lease with Premier Health Group LLC for the 36,000-square-foot warehouse. The tenant will also manage the industrial facility, which was previously occupied by VJ Electronix.

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  • Trade groups want to keep big bank dominance from returning
  • Groups believe current system is best, but still needs new law

A decade ago, Brian Koss was a senior vice president at Countrywide Financial who saw firsthand how big lenders muscled out small ones during the housing boom by cutting special deals with Fannie Mae and Freddie Mac.

Now, as a senior executive at a mid-size lender, he says a positive outcome from the bust is that government policies have mostly leveled the playing field.

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  • Desmond Lun’s AI trading model draws on computational biology
  • Biologists are ‘kicking butt’ in data science, professor says

Hedge fund manager Desmond Lun’s 21 percent average return over the last four years springs from an unlikely source — a petri dish of algae.

Lun, 37, is a new kind of quant, combining AI wizardry with old-school biology to trade futures. Although his Taaffeite Capital Management is small, Lun makes a big claim: His research into one of the natural world’s most byzantine systems — the biological cell — has given him an edge in untangling the secrets of financial markets…

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The New York City-based company arranged a $15.3 million acquisition loan for the 120-key Staybridge Suites Houston—Medical Center in Houston.

Mission Capital Advisors’ debt and equity finance group has arranged a $15.3 million acquisition loan on behalf of Midas Hospitality for the newly built Staybridge Suites Houston–Medical Center. The 120-key, extended-stay hotel is located at 9000 South Main St. in Houston, Texas.

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  • Values in London fell in May for the second consecutive month
  • London market most impacted by Brexit and higher sales taxes

The eight-year bull run for London home values appears to be finally coming to an end.

Values fell 0.5 percent in May from April, according to the LSL Acadata Home Price Index, and will show little or no growth this year, broker Savills Plc forecasts. PricewaterhouseCoopers LLP predicts that price growth will continue to slow in 2018 and 2019 as economic uncertainty and increased stamp duty taxes damp demand.

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  • Recommendation was long Brazil, Russia, India and South Africa
  • Mexican peso and Turkish lira seen as having upside potential

Goldman Sachs told investors to close out of an emerging-market carry-trade recommendation it made eight months ago, saying there was little scope for appreciation.

Following the bank’s advice to buy Brazil’s real, Russia’s ruble, India’s rupee and South Africa’s rand while shorting the Korean won and Singapore dollar would have delivered a 9.7 percent return, strategists Marty Young and Michael Cahill said in a note to clients. While Goldman Sachs is overall positive on emerging-market currencies, the analysts said the real, ruble and rupee were unlikely to strengthen much further in coming months…

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The 578-unit facility in Shreveport, La., was acquired by a Salt Lake City-based buyer. The property offers climate-controlled and traditional storage space.

Bellomy & Co. closed the sale of Discount Self Storage in Shreveport, La., to a Salt Lake City-based investor. The seller was a company from Marshall, Texas. The 70,057-square-foot asset offers 578 units, 93 percent of which were occupied at the time of the transaction.

Discount Self Storage is located at 900 E. 70th St. and includes climate and humidity-controlled units, as well as traditional and warehouse space. The property also features a security fence, 24-hour video surveillance, keypad access, outdoor parking and pest control. Supplies, dollies and carts for move-in are also available…

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U.S. stocks climbed as corporate earnings reports pick up steam and investors assess the fallout of the Trump Administration’s embattled health-care bill.

The S&P 500 added 0.3 percent to 2,468 as of 10:10 a.m. in New York after the underlying gauge closed at a record high Tuesday. Small-cap shares rallied as the Dow Jones Industrial average was little changed…

U.S. Stocks Climb as Earnings Season Picks Up; Health Care Gains

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  • Wealth, asset-management units benefit from stock-market rally
  • Divisions at three banks post record profits as fees climb

Wall Street’s bond traders may abhor the lack of volatility that’s overcome markets. But their colleagues who are managing other people’s money certainly seem to like it.

Calm and climbing markets gave a boost to wealth- and asset-management arms at the largest U.S. banks, driving revenue in those units to a record $18.4 billion in the second quarter, according to data compiled by Bloomberg. Divisions at JPMorgan Chase & Co. and Bank of America Corp. had their highest-ever profit, helping to cushion lower trading results across the firms…

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Set adjacent to Anastasia State Park, the resort boasts 535 feet of ocean frontage and will feature 175 rooms. Phase II will include an additional 90 to 100 accommodations.

Key International topped off phase I of construction of the Embassy Suites by Hilton St. Augustine Beach Oceanfront Resort in Florida. The project is slated for delivery in the first quarter of 2018.

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PM Realty Group sold a 135,000-square-foot property in Diamon Bar, Calif., to the company. At the time of sale, the Class A office building was 89 percent occupied.

Great Far East acquired Bridgegate Plaza, a 135,000-square-foot office building in Diamon Bar, Calif., from PM Realty Group.

HIGH OCCUPANCY

Located at 1440 Bridgegate Drive, the three-story asset offers quick access to and from Orange and Pomona freeways. Bridgegate Plaza is situated in the vicinity of multiple public transportation and dining options, including Deli at Vista Pointe and Mansun Japanese Restaurant. Constructed in 2002, the Class A office building features a stone lobby and sky-lit atrium. At the time of sale, the property was 89 percent occupied. Tenants include Insperity, Novatime and QTC Management…

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Residential construction ended the second quarter on a stronger note as groundbreaking on new homes rebounded in June to the fastest annualized pace in four months, Commerce Department data showed Wednesday.

Key Takeaways

The pickup in construction last month reflected more starts of single-family homes as well as apartment and other multifamily dwellings. The gain in June starts ended a three-month slide that indicates residential building will do little for second-quarter economic growth.

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Investors positioned for the global recovery are in good company: it’s the most common bullish investment theme for hedge funds this summer, according to Lyxor Asset Management.

As interest in hedge funds rises again — they saw the biggest jump in demand among asset classes examined in a Credit Suisse Group AG report last week — Lyxor strategists including Jean-Baptiste Berthon set out current investment trends in a recent note…

Summer’s Most Common Hedge Fund Theme Is the Global Recovery

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Phase two of the International Business Exchange data center will feature 1,500 additional cabinets, bringing the facility’s total capacity to 3,000. Delivery is scheduled for year-end 2017.

Equinix Inc. plans to invest $42 million to expand its SY4 International Business Exchange data center near Sydney, Australia, to meet the rising demand for additional capacity and interconnection services.

Opened in August 2016, SY4 is strategically located in Alexandria, 2.5 miles from Sydney’s central business district. The development is Equinix’s latest in a series of expansions across Asia-Pacific, namely in Melbourne, Tokyo, Hong Kong and Singapore.

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A Norwegian sovereign wealth fund is the new owner of the German publisher’s future headquarters, while a Blackstone joint venture acquired the company’s current home.

In separate deals, Axel Springer has sold the Axel-Springer-Neubau and Axel-Springer-Passage, both located in Berlin, for a combined price of $865 million.

Axel-Springer-Neubau, a 13-story office building complex which is currently being developed, was acquired by Norges Bank Real Estate Management, a Norwegian sovereign wealth fund. Designed by noted architect Rem Koolhaas, the project is set to be finished in December 2019.

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  • Says Brexit not fully priced into real estate in U.K. capital
  • Firm’s property chief sees opportunities in NYC hotels, condos

The value of high-quality properties in London could fall by as much as 10 percent as the U.K.’s decision to leave the European Union affects the economy, said Ralph Rosenberg, head of real estate for KKR & Co.

“I wouldn’t be surprised to see London reprice” about 5 percent to 10 percent “for core-type assets” because Britain’s planned exit from the EU isn’t fully reflected in real estate values, Rosenberg said in a Bloomberg Television interview Wednesday. He was referring to both commercial and residential property. Prices for the best London real estate surged right after last year’s vote as outside investors took advantage of the decline in the pound to buy…

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The company purchased the property in the Rancho Dominguez submarket of Los Angeles County for $12 million and has a $2.5 million renovation underway.

Industrial Property Trust Inc. acquired a 104,339-square-foot industrial building in the Rancho Dominguez submarket of Los Angeles County. The national REIT purchased the property for $12 million from Benetti’s Italia and has commenced a $2.5 million capital improvement plan. Daum Commercial Real Estate Services negotiated the transaction on behalf of IPT.

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The company will create a new 240,000-square-foot campus for Orange Lake Resorts in the blossoming 200-acre, mixed-use Infinity Park.

Tavistock Development Co. has signed Orange Lake Resorts to a build-to-suit lease in Orlando, Fla., and it’s a big one. Tavistock will develop a 240,000-square-foot corporate campus for the vacation ownership industry leader at Infinity Park, the 200-acre, mixed-use business park.

Tavistock’s lease agreement with Orange Lake marks one of the largest office transactions in Orange County year-to-date. “There is a dearth of large blocks of vacant office space in the Orlando metro area, and current office rents do not justify speculative new construction. These factors have combined to limit very large deals,” Skipper Peek, senior vice president, Tavistock Development Co., told Commercial Property Executive.

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Women are more successful at meeting their funding targets, study shows

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When it comes to raising funds from large groups of anonymous donors over the internet, women come out tops. That could be a boon for job creation and economic growth.

A new report from PricewaterhouseCoopers LLP and The Crowdfunding Center shows that women across the world consistently outperformed men on funding campaigns: Globally, females were 32 percent more successful than males in reaching their funding targets; in Asia, women achieved twice as much success as men…

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  • Less than a third of those asked say they trust billionaires
  • Republicans are more likely than Democrats to admire the rich

Bad news for financial titans like JPMorgan Chase & Co.’s Jamie Dimon and Goldman Sachs Group Inc.’s Lloyd Blankfein: Most Americans hold unfavorable views of Wall Street banks and corporate executives, and distrust billionaires more than they admire them.

Despite efforts by Wall Street firms to regain trust since the 2008 financial crisis, fewer than a third of Americans view the industry positively — unchanged from 2009, according to the latest Bloomberg National Poll…

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Wall Street has developed a new way, clouded in obscurity, to fleece the hundreds of millions of Americans who have money invested in company pension plans, mutual funds and insurance policies.

Institutional brokers are legally obliged to execute trades on the exchange that offers the most favorable terms for their clients, including the best price and likelihood of executing the trade. The 12 exchanges, most of which are owned by New York Stock Exchange, Nasdaq and Better Alternative Trade System (BATS), along with the Chicago Stock Exchange and the Investors Exchange (IEX), are supposed to compete to offer the best opportunities…

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Who cares about a few bad weeks in fixed-income markets?

Jamie Dimon, JPMorgan Chase’s chief executive, raised that reasonable question last week. The answer is Lloyd C. Blankfein at the rival Wall Street firm Goldman Sachs, which on Tuesday reported a 40 percent year-on-year slump in revenue from trading bonds, currencies and commodities. Goldman’s market compass is a little off, and investors may soon expect Mr. Blankfein to fix it more quickly.

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Sentiment among American homebuilders deteriorated to an eight-month low in July on concerns about higher material costs, according to data Tuesday from the National Association of Home Builders/Wells Fargo.

HIGHLIGHTS OF HOMEBUILDER SENTIMENT (JULY)

  • Builders’ Housing Market Index decreased to 64 (est. 67) from 66 in June (revised from 67)
  • Measure of six-month sales outlook dropped to a five-month low of 73 from 75
  • Index of current sales fell to 70, the weakest since November, from 72
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Leaders of major United States companies with deep ties to China will meet on Tuesday with their Chinese counterparts to try to ease the increasingly rocky economic relationship between the countries.

On Tuesday, Wilbur L. Ross, the secretary of commerce, will host a daylong meeting in Washington with more than 20 business leaders from the United States and China. The session will be brokered by Jack Ma, the executive chairman of the Chinese e-commerce giant Alibaba, and Stephen A. Schwarzman, a co-founder of the private-equity firm the Blackstone Group and an adviser to President Trump…

U.S. and Chinese Executives to Meet on Nations’ Economic Relations

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Robert Ward will oversee commercial and multifamily development operations, succeeding Shawn Hurley, who was with the company for seven years.

Skanska appointed Robert Ward as president & CEO for Skanska USA Commercial Development. Ward will oversee the company’s commercial and multifamily development operations. Succeeding Shawn Hurley, Ward will join the USA senior leadership team and report to Skanska AB Executive Vice President Claes Larsson.

DEVELOPMENT & CONSTRUCTION EXPERIENCE

Ward has more than two decades of experience, recently serving as chief operating officer for Skanska USA Commercial Development. In that position, he evaluated all project investments, refined the national leasing and customer strategy, explored new market opportunities and managed the group’s professional service functions…

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  • Borrowers with mortgage less likely to default, go bankrupt
  • New rules will help insulate them from rising interest rates

Canadians may be shouldering near-record household debt but homeowners have been managing it better than those than don’t own property, according to the country’s housing agency.

Mortgage delinquency rates and credit scores improved in the fourth quarter of 2016 from the third quarter and those with a home loan were less likely to default or file for bankruptcy, Canada Mortgage & Housing Corp. said in a report Tuesday.

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The third of TPA Group’s creative office campus concept will encompass two office buildings and a 5,000-square-foot central amenity structure.

TPA Group retained Avison Young as the exclusive leasing team for The Edison Pembroke Pines, a proposed creative office park totaling 330,000 square feet of Class A space in Pembroke Pines, Fla. Avison Young Principal Greg Martin and Vice President Justin Cope will lead marketing and leasing efforts on behalf of the Atlanta-based developer.

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The lodging company’s selection of Patrick Pacious, president & COO, for the position marks the conclusion of a long-term succession planning undertaking.

The soon-to-be-vacated top position at Choice Hotels International Inc. has been filled. The hotel company’s board has appointed Patrick Pacious, currently president & COO with Choice, to the position of CEO. He’ll take the reins from Stephen Joyce, who will step down at the end of 2017. Pacious will continue to hold the role of president, while the replacement for the COO position has yet to be determined.

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  • They had record 33% of portfolios in property, survey says
  • Investor wagers on hedge funds fell to record low 4%

Wealthy investors boosted bets on real estate and left hedge funds and equities as concern over high valuations and geopolitical risk push them back to basics.

They had 33 percent of their portfolios on average in real estate at the end of the second quarter, according to a survey by Tiger 21 released Tuesday. That’s a record since the group of high net-worth investors started measuring aggregate allocations in 2007.

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Categories : Hedge Funds, Real Estate
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Equus Capital Partners sold the three-building office complex to the East Coast operating platform of The Shidler Group, Alliance Partners HSP.

CBRE brokered the sale of Golden Bear Plaza, a Class A office campus totaling 245,673 square feet in Palm Beach Gardens, Fla. Equus Capital Partners Ltd. sold the three-building asset in a $62.3 million deal to an affiliate of Alliance Partners HSP, the East Coast operating platform of The Shidler Group.

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Tenant demand and strong property fundamentals drive investor interest, with $1.7 billion in multifamily assets already trading in the first quarter. Rents increased 2.9 percent to $1,108 as of May, and Yardi Matrix forecasts a 3.5 percent increase in 2017.

Atlanta has become an economic powerhouse in recent years. It’s currently one of the fastest-growing metro areas in the nation—a result of its broad-based job growth, 18-hour lifestyle and healthy rental and housing market. A rapidly rising population is adding to the city’s congestion issues, but also fostering demand for apartments and pushing rents higher.

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The new owner awarded Lincoln Property Co. Southeast with the exclusive property management and leasing assignment of Jefferson Plaza.

ICM Realty Group completed the purchase of Jefferson Plaza, a 118,000-square-foot, multi-tenant office building in Norcross, Ga. The new owner committed to a capital improvement program, including material exterior and interior renovations.

Located at 3169 Holcomb Bridge in the Norcross/Peachtree Corners submarket, the property was completed in 1978. The seven-story building underwent significant upgrades and features floor plans ranging from 813 square feet up to 11,348 square feet, a conference facility and a parking ratio of four spaces per 1,000 square feet…

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The transaction includes a future funding facility of up to $70 million that Monday Properties can use to lease and upgrade the 580,000-square-foot building.

Monday Properties has received $250 million in refinancing for 1812 North Moore St., a 580,000-square-foot office tower in the Arlington submarket of Rosslyn, Va.

The refinancing was finalized ahead of the scheduled maturity date, coming up this December, and includes up to $70 million in the form of a future funding facility that Monday can leverage for future leasing and capital investment activity…

NoVa Office Tower Lands $250M Refi

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