Author Archive

It’s time to add Wells Fargo’s chairman, Stephen W. Sanger, to the list of firings over the creation of millions of fake accounts.

Just 56 percent of shareholders backed Mr. Sanger at the bank’s annual meeting on Tuesday. That’s a stinging rebuke for his failure as lead director. After 5,300 employees and the chief executive, John G. Stumpf, paid with their jobs, Mr. Sanger and other board members with lackluster support should go, too, to help the bank rehabilitate.

Share
Categories : Uncategorized
Comments (0)

Grant Park Gateway stems from a 2015 study by the city looking at current and future traffic and parking demands for Grant Park and Zoo Atlanta. The development will be funded through bond revenue and supplemented by additional sources.

An existing eight-acre surface parking lot next to Zoo Atlanta will be transformed into an underground parking and mobility facility with a park on the roof in a $48 million project unveiled by the City of Atlanta.

Share
Categories : Uncategorized
Comments (0)
  • Mortgage lender said to borrow C$2 billion from HOOPP
  • Ability to raise GIC deposits, maintain operations uncertain

The head of an Ontario pension plan has stepped down as a director of Home Capital Group Inc. after his fund agreed to provide a C$2 billion ($1.5 billion) loan to help offset a run on deposits at the struggling Canadian mortgage lender.

Healthcare of Ontario Pension Plan President and Chief Executive Officer Jim Keohane said he recused himself from the lending talks and stepped away from Home Capital’s board last Tuesday before formally resigning on Thursday. He also said that Kevin Smith, Home Capital’s chairman, has stepped down from HOOPP’s board…

Share
Categories : Uncategorized
Comments (0)

When the Trump administration unveiled its outline of a tax plan on Wednesday, officials trumpeted a bold promise to shave the corporate tax rate to a flat 15 percent and sharply reduce taxes for ordinary Americans.

But one crucial issue they left unaddressed: how the administration plans to deal with the so-called carried interest loophole, a tax treatment enjoyed by some of the richest people on Wall Street.

During the presidential campaign, Mr. Trump pledged to close the loophole and make its beneficiaries, private equity and hedge fund executives among them, pay their fair share of taxes. He once proclaimed that “hedge fund guys are getting away with murder.”

Share
Categories : Uncategorized
Comments (0)

The new office will support Honeywell’s evolution towards becoming recognized as a software business and serve to better showcase its leadership.

Located at 715 Peachtree St. NE, the facility will serve as the global headquarters for the company’s Home and Building Technologies (HBT) business, adding to the city’s thriving technology scene.

“As Honeywell continues to drive transformative attitudes across their global solutions footprint, the Atlanta Software Development and Connected Experience Center embodies just that – transformative stewardship through design excellence,” Michael Bonomo, M Moser’s creative director USA, told Commercial Property Executive. “Our team has collaborated with Honeywell colleagues to create a facility that draws best-in-class software developers and product creators, while also supporting them in leading their IOT technologies through an immersive facility driving more intelligent spaces for the world.”

Share
Categories : Uncategorized
Comments (0)

Dan Gill has more than 25 years of experience in the industry and will be based in the firm’s San Diego office. The move is part of the firm’s plan to expand its retail platform.

JLL has hired Dan Gill as vice president to expand its Southern California retail practice. Gill is based in the firm’s San Diego office, where he will join Retail Brokerage Lead Craig Killman in representing retailers and landlords across the region.

Gill brings more than 25 years of experience in the retail real estate industry. Prior to JLL, he owned The Gill Group and has more than 175 transactions under his belt. Gill holds a bachelor’s degree from the University of Massachusetts at Amherst…

Share
Categories : Uncategorized
Comments (0)
  • Birkin bag maker invests in French output to meet Asian demand
  • Quarterly sales beat estimates as China rebound accelerates

Hermes International SCA is hiring workers and investing in French production to meet surging demand for handbags in Asia, boosting the economy as presidential elections highlight the country’s struggle to create jobs.

The Paris-based luxury-goods company is expanding its network of domestic workshops that make bags like the Kelly and Birkin, it said Thursday in reporting quarterly sales that beat estimates. For Hermes, a “made in France” label is an intrinsic part of the appeal of its handbags, which are coveted in Asia and elsewhere as an emblem of French chic…

Share
Categories : Uncategorized
Comments (0)
  • Currency is at its weakest against greenback since early 2016
  • Interest-rate divergence between Hong Kong and U.S. widens

Where U.S. interest rates go, Hong Kong’s follow. At least that’s the theory with the territory’s pegged currency system.

It’s not always the case. There was a sharp divergence in rates in 2003, when Hong Kong’s economy was hit by the impact of the deadly SARS virus, causing a drop in lending that generated a surfeit of liquidity, driving down rates. Local dynamics are causing a gap again, though now it has nothing to do with face masks — it’s all about real-estate lending…

Share
Categories : Uncategorized
Comments (0)

The new executive vice president’s track record includes positions with Brookfield Office Properties, Equity Office Properties, Beacon Properties and Gilbane Properties.

Colliers International New England recently promoted Robert Brierley to managing director of its real estate management services (REMS) division and executive vice president of Colliers Boston.

Brierley joined Colliers’ REMS team in 2013, as senior vice president, his professional track record also including positions with Brookfield Office Properties, Equity Office Properties, Beacon Properties and Gilbane Properties. As vice president of operations with Brookfield Office Properties, he was responsible for managing a Class A, 2.1 million-square-foot portfolio with a value of more than $1 billion and an annual operating budget in excess of $50 million…

Share
Categories : Uncategorized
Comments (0)
  • Bank’s pretax profit beats estimates as revenue rises
  • Lloyds boosts 2017 guidance for lending net interest margin

Follow @Brexit for all the latest news, and sign up to our daily Brexit Bulletin newsletter.

Lloyds Banking Group Plc isn’t getting bruised by Brexit so far.

Britain’s largest mortgage bank boosted its target for lending margins this year, even amid record-low U.K. interest rates introduced in the wake of the nation’s vote to leave the European Union. Net interest income rose 1 percent to 2.93 billion pounds ($3.8 billion) in the first quarter, topping most analysts’ estimates.

Share
Categories : Uncategorized
Comments (0)
  • Concerned about growing deficits? Watch these 4 market signals
  • Goldman Sachs says proposal released this week faces long road

The Trump administration’s tax plan — and its disregard for the effect it would have on the federal budget deficit — is certain to pique the interest of a long-dormant segment of bond investors.

So-called bond vigilantes, once feared for enforcing restraint on spendthrift governments, have struggled to flex their muscles in recent years as global central banks stepped in to buy a glut of sovereign debt. Now may be the time for a comeback, with the Federal Reserve talking about trimming its Treasury holdings while the administration’s tax plan could spur more borrowing to cover a shortfall (assuming the projected economic growth doesn’t materialize)…

Share
Categories : Uncategorized
Comments (0)

Zoned for a range of uses, the site could accommodate residential, office, retail or all of the above. The increasingly high-profile nature of the market is resulting in continuous growth of capital investments.

With the assistance of Compass Auctions & Real Estate LLC, the State of Tennessee is auctioning two parcels totaling 2.1 acres in downtown Nashville, paving the way for a developer to capitalize on city’s ongoing upswing.

The offering consists of 450 James Robertson Parkway., an approximately 0.9-acre tract of land and the neighboring 1.2-acre parcel at 460 James Robertson Parkway. Zoned for a range of uses, the site could accommodate residential, office, retail or all the above…

Share
Categories : Uncategorized
Comments (0)

Contracts to buy previously owned U.S. homes declined in March after rising a month earlier by the most since 2010, according to figures released Thursday from the National Association of Realtors in Washington.

Key Points

  • Pending home sales index fell 0.8 percent (forecast was for a 1 percent decrease) after jumping 5.5 percent the prior month
  • Index climbed 0.5 percent from March 2016 on an unadjusted basis
  • Pending sales dropped in three of four U.S regions month-to-month…

Pending Sales of Previously Owned U.S. Homes Retreated in March

Share
Categories : Uncategorized
Comments (0)
  • First-quarter gain in owners was biggest in more than a decade
  • Wage growth, rising confidence pushing more people to buy

The U.S. homeownership rate is finally poised to rise significantly as household formations by owners grew faster in the first quarter than those by renters — the first time that’s happened in more than a decade.

While the share of Americans who owned their homes was up only slightly from a year earlier, at 63.6 percent, the number of new owners jumped by more than 850,000, compared with an increase in renter households of 365,000. The 1.1 percent year-over-year gain in owners was also the biggest since 2006, according to an analysis by Trulia of Census Bureau data released Thursday…

Share
Categories : Uncategorized
Comments (0)

The company also promoted Daniel Richards to managing principal of the Ontario region and Rene Ramos Jr. to senior vice president of industrial brokerage.

Coldwell Banker Commercial Advisors expands its Ontario, Calif., operations with the opening of a new full-service commercial real estate office located in the first building at 3959 Inland Empire Blvd. With this occasion, Daniel Richards was named managing principal of the Ontario region, while Rene Ramos Jr. will serve as senior vice president, industrial brokerage.

Richards owns more than 25 commercial real estate properties and has developed more than 35 projects. Ramos joined Coldwell Banker in 2005 and was named this year’s top producing Coldwell industrial broker globally…

Share
Categories : Uncategorized
Comments (0)
Hines, Urban Atlantic and Triden Development have teamed up for the construction of The Parks at Walter Reed, one of the city’s largest master-planned communities.

The Parks at Walter Reed, a $1 billion mixed-use project in Washington, D.C., gets underway as TPWR Developer LLC—a joint venture of Hines, Urban Atlantic and Triden Development Group—breaks ground on the 3.1 million-square-foot transformative undertaking…

Billion-Dollar Mixed-Use Project Kicks Off in DC

Share
Categories : Uncategorized
Comments (0)
  • Laufer joins Simons among world’s richest on Medallion returns
  • Mercer and Brown, near-billionaires, at odds over Trump

Henry Laufer was teaching math at Stony Brook University on Long Island in the late 1980s when he got a call from Jim Simons. A former colleague, Simons had left academia to start Renaissance Technologies a mile down the road, and his hedge fund was struggling. Would Laufer help him find a better way to predict commodity prices?

Share
Categories : Uncategorized
Comments (0)

The company acted on behalf of TRITEC Real Estate, which developed the Long Island business park, totaling more than one million square feet, over a period of twenty years.

HFF has closed the $81.5 million recapitalization of Stony Brook Technology Center, an eight-building medical office portfolio totaling 261,824 square feet in the Long Island community of East Setauket, N.Y. HFF’s Senior Managing Directors Andrew Scandalios, Jose Cruz and Michael Gigliotti represented developer TRITEC Real Estate and procured the partner, a fund advised by UBS Real Estate & Private Markets…

HFF Closes $82M Recapitalization of MOB Portfolio

Share
Categories : Uncategorized
Comments (0)
The move, which would create the third-largest pure-play lodging REIT, with a total enterprise value of $7 billion, was deemed a “head scratcher” by at least two analysts.

The all-stock, $1.2 billion planned merger of RLJ Lodging Trust and FelCor Lodging Trust Inc. has left a few people guessing. The deal, which would create the third-largest pure-play lodging REIT, with a total enterprise value of $7 billion, would see FelCor folded into RLJ, a move that was deemed a “head scratcher” by at least two analysts…

RLJ, FelCor to Merge in $1.2B All-Stock Deal

Share
Categories : Uncategorized
Comments (0)

Before Sarah Pursglove and her husband, the Finnish entrepreneur Robert Oesterlund, became the subjects of one of the most high-profile divorces in recent history, they were considering a change of scenery. (Oesterlund’s efforts to make as much as $400 million “disappear” were chronicled in the New York Times Magazine.) With homes in Finland, the U.S., and the Bahamas already, “we were looking at places in Canada and interested in something that would be similar to New York, and walkable,” Pursglove said…

After a Bitter Divorce, a $27 Million Penthouse Hits the Market

Share
Categories : Uncategorized
Comments (0)

The company is ready to start leasing and management services for Maryland Corporate Center, a four-building office property in Lanham, Md.

Maryland Corporate Center, a four-building, 224,000-square-foot commercial office center located in Lanham, Md., is getting ready to welcome new tenants now that Lee & Associates won the leasing and asset management contract.

Lee & Associate, the largest broker-owned firm in North America, has won the contract from Melrose Holdings LLC. The team that will run the leasing and marketing strategy comprises Lee & Associates Senior Vice President Bill Harrison, Principal Kate Jordan and Associate Austin Ever, while Director of Property Management Michelle Kimos will supervise the asset management activities…

Share
Categories : Uncategorized
Comments (0)
The company has acquired six industrial properties totaling approximately 1.8 million square feet of warehouse and distribution space.

Investcorp has invested $160 million in an industrial portfolio of six properties located in the Chicago and Boston metropolitan areas.

The portfolio consists of an aggregate of approximately 1.8 million square feet of warehouse and distribution space…

Investcorp Adds $160M to Chicago, Boston Portfolios

Share
Categories : Uncategorized
Comments (0)
  • Ride-hailing service plans to raise at least $5 billion
  • Didi said to raise funds for automated driving expansion

Ride-hailing giant Didi Chuxing is near an agreement to raise at least $5 billion in a deal that would make it the most valuable startup in China, according to people familiar with the matter.

Share
Categories : Uncategorized
Comments (0)

Marcus & Millichap closed on the sale of a 26,875-square-foot self-storage property comprising 250 units. Yardi Matrix data shows that the facility traded for $2.4 million.

The Mele Group of Marcus & Millichap has announced the sale of Tolleson Self Storage in Tolleson, Ariz. Devin Beasley, Luke Elliott and Michael Mele, self-storage investment specialists at The Mele Group, marketed the 26,875-square-foot property on behalf of both the seller and the buyer. According to data provider Yardi Matrix, The Laurel Co. sold the facility to Clear Sky Capital for $2.4 million.

Share
Categories : Uncategorized
Comments (0)
  • PPF says the much-maligned funds are useful for higher returns
  • Hedge funds are part of firm’s alternative-investment strategy

The firm that compensates members of U.K. retirement pots when they run into trouble is keeping faith with hedge funds despite widespread criticism of their high fees and underwhelming returns.

The Pension Protection Fund has about 23 billion pounds ($30 billion) under management and a 4.1 billion-pound surplus, thanks in part to investing in assets other than stocks and bonds, according to Ian Scott, its head of investment strategy….

This $30 Billion Pension Pot Is Keeping Faith With Hedge Funds

Share
Categories : Uncategorized
Comments (0)
  • Explorer shuts 3,000 vertical wells across state’s northeast
  • April 17 blast killed at least two people; cause not known

Anadarko Petroleum Corp. is shutting all its vertical wells across northeast Colorado following a home explosion in the town of Firestone earlier this month that killed two people.

The more than 3,000 vertical wells, which produce the equivalent of about 13,000 net barrels of oil a day, will remain shut until the company’s field personnel can conduct inspections and test equipment in facilities and underground lines associated with each wellhead, the oil explorer said in a statement Wednesday. The cause of the explosion is still being investigated…

Share
Categories : Uncategorized
Comments (0)

The company paid $5.9 million to acquire the 35,000-square-foot property, which is located at 25-29 South Hanford St. in the SoDo district.

Terreno Realty Corp. has acquired an industrial property in Seattle for $5.9 million. The asset, a 35,000-square-foot industrial building, sits on roughly 1 acre. The property’s stabilized cap rate is estimated at 5 percent…

Terreno Realty Lands Seattle Distribution Building

Share
Categories : Uncategorized
Comments (0)
  • Tech giants such as Apple and Google dominating gains again
  • Their valuations still far from extremes seen at 2000 peak

Terrified that rallies in Facebook Inc., Amazon.com Inc. and Google portend a millennial catastrophe along the lines of the dot-com bust? Relax. Going by one doomsday clock, it’s only 1997 in bubble years.

So says Leuthold Group LLC in a study that plots today’s valuations against the salad days of Internet mania. Based on its model, which measures the S&P 500 Index by six factors including earnings, dividends and cash flow, the Minneapolis-based firm found stocks currently trade at the multiple they first reached 20 years ago…

Share
Categories : Uncategorized
Comments (0)
  • Discussions are in early stages and no structure is in place
  • Ivanka Trump wouldn’t be involved in soliciting funds

Ivanka Trump is in discussions with the World Bank about setting up a fund that would pool resources from G-20 countries to support female entrepreneurs, two people with knowledge of the matter said.

The project hasn’t been set up, and donors would need to agree on its structure, said officials from the World Bank and the White House, who spoke on condition of anonymity. The German government has taken a leading role in the effort, according to the officials. In addition to countries and foundations, corporations might be tapped for donations, a second World Bank official said…

Share
Categories : Uncategorized
Comments (0)

You know things are getting weird out there when PTJ makes a quasi-public appearance and says something newsworthy:

Billionaire investor Paul Tudor Jones has a message for Janet Yellen and investors: Be very afraid.
The legendary macro trader says that years of low interest rates have bloated stock valuations to a level not seen since 2000, right before the Nasdaq tumbled 75 percent over two-plus years. That measure — the value of the stock market relative to the size of the economy — should be “terrifying” to a central banker, Jones said earlier this month at a closed-door Goldman Sachs Asset Management conference, according to people who heard him…

Share
Categories : Uncategorized
Comments (0)

PONTE VEDRA BEACH, Fla. — The scandal at Wells Fargo over the creation of millions of fake bank accounts cost more than 5,300 people their jobs, many of them tellers and other low-level employees.

The bank then clawed back tens of millions of dollars in pay from its retired chief executive and fired the former head of the retail operation.

The next group of employees who could lose their jobs are Wells Fargo’s board of directors, who face re-election on Tuesday at the bank’s annual shareholder meeting…

A Showdown Over Wells Fargo’s Board of Directors Looms

Share
Categories : Uncategorized
Comments (0)
Apr
25

Baltimore Reclaims Its Charm

Posted by: | Comments (0)

Employment growth, coupled with the metro’s relatively affordable rental rates, should generate a solid absorption of the new apartment units coming online this year.

Baltimore’s multifamily market remains tepid, despite the continuing revival of downtown and surrounding areas. The metro is steadily overcoming decades of decline in blue-collar industries and population loss. It does, however, benefit from the proximity of Washington, D.C.’s less affordable market, where both renters and investors are slowly being priced out.

Share
Categories : Uncategorized
Comments (0)

Foreign money has been a key ingredient in propping up home values in many cities across the United States. There is no doubt about this.  If you look at places like Irvine, many new home communities are being sold largely to investors from China.  This also applies to house mania happy San Francisco.  Yet even if you question your own sanity regarding California crap shack prices, things may look affordable to certain people abroad.  The amount of investment flowing in from China into the United States is amazing.  A large part flows into real estate.  This is how you get lower homeownership rates and also a drop in mortgage application volume yet somehow, you see home prices surging on low inventory.  In a global market money can flow in and out of systems easily…

Share
Categories : Uncategorized
Comments (0)

The company leased 80,265 of the Enterprise Industrial’s total 324,363 square feet. This new lease brings Building 2 to a 62 percent occupancy rate.

Robinson Weeks Partners closed a new lease with a Fortune 500 company at Enterprise Industrial – Building 2, located at 17745 Lookout Road in Schertz, Texas.

Share
Categories : Uncategorized
Comments (0)
The private liberal arts college in Springfield, Mo., is initiating a campaign to fund new buildings and other improvements for the celebration of its 150th anniversary.

New York-based architecture and urban design firm Cooper Robertson has been selected to develop a new master plan for Drury University. The project aims to “reshape and enhance the … campus and its surroundings,” Cooper Robertson announced late last week…

Cooper Robertson Helms Drury University Campus Revamp

Share
Categories : Uncategorized
Comments (0)

As a steward of pension funds and retirement accounts, Neuberger Berman has traditionally employed a staid strategy familiar among big Wall Street money managers: Buy and hold stocks, sit back, and hope for the best.

But recently, the firm has eschewed its nearly 80-year-old tactic of playing nice. Instead it turned to the bare-knuckled world of activist investors made famous by the likes of Carl C. Icahn and William A. Ackman…

An Activist Investment in Whole Foods Exposes Shifting Power on Wall St.

Share
Categories : Uncategorized
Comments (0)
Apr
25

Omni Frisco Hotel Opens Doors

Posted by: | Comments (0)

The Omni Frisco Hotel located within The Star, which is anchored by the Dallas Cowboys World Headquarters and Ford Center, will be opening in July 2017.

The 16-story, 300-key Omni will feature 24,000 square feet of meeting space, a 13,000-square-foot ballroom, a restaurant, wine bar, a rooftop pool bar and grill on the fourth floor. Additional amenities include a luxury retail outlet that features merchandise produced by local artists and designers, a fitness center, laundry and dry cleaning services, pet-friendly accommodations, a business center and free Wi-Fi…

Omni Frisco Hotel Opens Doors

Share
Categories : Uncategorized
Comments (0)

Home prices in 20 U.S. cities accelerated in the year through February for a fifth month, while nationwide property values also picked up, according to S&P CoreLogic Case-Shiller data reported Tuesday.

Key Points

  • 20-city property values index climbed 5.9 percent from February 2016 (forecast was 5.8 percent), the fastest since July 2014, after increasing 5.7 percent in the year through January
  • National home-price gauge rose 5.8 percent in the 12 months through February
  • Seasonally adjusted 20-city index advanced 0.7 percent from a month earlier (matching the Bloomberg survey median)…

Home Prices in 20 U.S. Cities Accelerate for a Fifth Month

Share
Categories : Uncategorized
Comments (0)

SHANGHAI — In China, it’s all about whom you owe.

That precise question — who owes what to whom? — shook the Chinese industrial town of Zouping in recent weeks. Some businesses closed. City officials engineered a desperate corporate takeover. An executive was detained by the police.

The problem: Local companies had agreed to guarantee hundreds of millions of dollars of one another’s loans. When some of those loans went bad, the impact rippled across the city…

Debt Crisis Shakes Chinese Town, Pointing to Wider Problems

Share
Categories : Uncategorized
Comments (0)

The refrigerant packaging company selected Martin County for a new facility, which will provide the area with 31 new jobs. Salaries at Weitron Inc. will be about $4,000 more than the $28,000 annual average income of the county.

Weitron Inc., a packager and distributor of refrigerant gases, has selected Martin County for a new production facility in Everetts, N.C. The $13 million investment will create 31 jobs, according to Governor Roy Cooper. A One North Carolina Fund performance-based grant of $90,000 will help facilitate the company’s expansion in Martin County. The company is expanding to meet growing demand for new refrigerant formulas with less environmental impact…

Share
Categories : Uncategorized
Comments (0)

Purchases of new U.S. homes unexpectedly increased in March to an eight-month high, indicating housing demand remained strong at the start of the spring buying season, Commerce Department data showed Tuesday.

Key Points

  • Single-family home sales increased 5.8 percent to a 621,000 annualized pace (median forecast called for a 584,000 rate)
  • The median sale price of a new house rose 1.2 percent from March 2016 to $315,100
  • Supply of homes shrank to 5.2 months from 5.4 months; there were 268,000 new houses on the market at the end of March…

U.S. New-Home Sales Unexpectedly Rise to Highest Since July

Share
Categories : Uncategorized
Comments (0)

PONTE VEDRA BEACH, Fla. — Despite the turmoil that has engulfed Wells Fargo in the past year, shareholders voted on Tuesday to re-elect all of the bank’s 15 directors. But some of the board members edged in just barely, a sign that many shareholders want further changes in the bank’s leadership.

Activist shareholders had hoped to remove some or all of the board’s incumbents in the aftermath of the bank’s sales scandal, but every board member won support from at least 53 percent of the shareholders casting votes…

Wells Fargo Shareholders Tepidly Re-elect Bank’s Directors

Share
Categories : Uncategorized
Comments (0)
Working on behalf of Bentall Kennedy, the firm will service 100 N LaSalle St. and 29 N Wacker Drive, two office buildings located in the city’s downtown.

Bentall Kennedy (U.S.) Ltd., a Sun Life Investment Management company, has appointed Transwestern to provide management services for two of its properties in downtown Chicago: 100 N LaSalle St. and 29 N Wacker Drive. The company appointed Property Manager Julia Rabban and Vice President Katie Sakach to lead the management team…

Transwestern Expands Chicago Management Portfolio

Share
Categories : Uncategorized
Comments (0)
  • Entrusted investments under scrutiny amid regulatory crackdown
  • As banks pull out, Chinese bonds and equities retreat

A $1.7 trillion source of inflows into Chinese markets has suddenly switched into reverse, roiling the nation’s money management industry and sending local bonds and stocks to their biggest losses of the year.

The turbulence has centered on so-called entrusted investments — funds that Chinese banks farm out to external asset managers. After years of funneling money into such investments, banks are now pulling back in response to a series of regulatory guidelines over the past three weeks that put a spotlight on the risks. Critics have blamed entrusted managers for adding leverage to China’s financial system and reducing transparency…

Share
Categories : Uncategorized
Comments (0)

The draft of the Financial Choice Act 2.0, released last week by the House Financial Services Committee and aimed at overturning much of the Dodd-Frank Act, contains provisions that could change how the Securities and Exchange Commission polices the markets.

Unlike similar legislation introduced last year by Representative Jeb Hensarling, Republican of Texas and chairman of the committee (which had zero chance of success with President Obama in office), the new draft may find a receptive audience with the Trump administration, and may result in Congress curtailing enforcement of securities laws…

A Whack at Dodd-Frank Could Hamstring the S.E.C.

Share
Categories : Uncategorized
Comments (0)

HONG KONG — In 2012, with help from Goldman Sachs, a Malaysian sovereign wealth fund called 1Malaysia Development Berhad sold $3.5 billion worth of bonds backed by an Abu Dhabi government fund to help it purchase power plants.

But behind the scenes, American officials have claimed, nearly $1.45 billion was illegally redirected to Swiss bank accounts and ultimately into the hands of some of the people involved in the deal…

Malaysia to Pay $1.2 Billion to Abu Dhabi Fund Over 1MDB Scandal

Share
Categories : Uncategorized
Comments (0)

This move guarantees both firms investment activity growth in the office and mixed-use sectors in various urban and transit-oriented areas in core markets, including New York and D.C.

Building on a successful history of transactions together, Normandy Real Estate Partners and NTT Urban Development Corp. recently took their relationship to the next level by entering into a strategic partnership. Per terms of the deal, NTTUD, the real estate division of Tokyo, Japan-based Nippon Telegraph and Telephone Corp., acquired a 15 percent common equity interest in Normandy’s management platform…

Normandy, NTT Urban Form Strategic Partnership

Share
Categories : Uncategorized
Comments (0)

The number of unsold London homes under construction rose to a record in the first quarter as higher taxes, affordability issues and economic uncertainty damp demand for the most expensive properties.

The number of properties being built or completed that have yet to find a buyer surged to 27,000 units from about 25,000 at the end of last year, according to a report by Molior London seen by Bloomberg News. That’s the highest level since the researcher began compiling data in 2009. A spokesman for Molior declined to comment…

Number of Unsold London Homes Under Construction Hits a Record

Share
Categories : Uncategorized
Comments (0)

The 1989 property in Lynwood consists of three buildings just off Interstate 105 and is fully ground leased.

Terreno Realty Corp. acquired a one million-square-foot industrial property in the South Bay submarket of Los Angeles for $31.4 million. According to Yardi Matrix, the property was owned by Comstock Homes. The estimated stabilized cap rate of the property is 3.9 percent…

Terreno Realty Acquires 1MSF South Bay Industrial Property

Share
Categories : Uncategorized
Comments (0)

About 64 percent of real estate executives interviewed after the election say the Trump administration’s agenda will have a moderately or significantly positive effect on the industry.

The U.S. CRE market is looking at a rising level of confidence, stiffer competition from single-family residential for the nation’s housing dollar, and concerns over rising prices and falling cap rates, according to the eighth annual Akerman U.S. Real Estate Sector Report, released last week.

Share
Categories : Uncategorized
Comments (0)
  • Entrusted investments under scrutiny amid regulatory crackdown
  • As banks pull out, Chinese bonds and equities retreat

A $1.7 trillion source of inflows into Chinese markets has suddenly switched into reverse, roiling the nation’s money management industry and sending local bonds and stocks to their biggest losses of the year.

The turbulence has centered on so-called entrusted investments — funds that Chinese banks farm out to external asset managers. After years of funneling money into such investments, banks are now pulling back in response to a series of regulatory guidelines over the past three weeks that put a spotlight on the risks. Critics have blamed entrusted managers for adding leverage to China’s financial system and reducing transparency…

Share
Categories : Uncategorized
Comments (0)

Third + Shoal, a 345,000-square-foot skyscraper currently rising at the site of the former Austin Music Hall, is scheduled for completion later this year.

TIER REIT has sold 50 percent of its interest in Third + Shoal, an approximately 345,000-square-foot office tower currently under construction is Austin, Texas. Invesco Real Estate, a global real estate investment manager, acquired the stake in the project.

The new joint venture between TIER REIT and Invesco Real Estate closed on March 31…

Invesco Buys Stake in Austin Office Tower

Share
Categories : Uncategorized
Comments (0)

Bank of Canada Governor Stephen Poloz said he’s happy measures were taken by the Ontario government to slow Toronto’s housing market and expects the steps will have some impact. Here are highlighted quotes from a round-table with reporters that Poloz gave in Washington on April 22.

On Housing

“I’m happy there are measures. It’s a risk we’ve been highlighting and made it clear a week or two ago we didn’t think interest rates are the right tool for managing such a risk because they affect everybody. They are not localized…

Verbatim: Poloz on Housing, Geopolitics and Business Investment

Share
Categories : Uncategorized
Comments (0)
  • April asking values decrease 1.5% y/y, Rightmove says
  • Central areas leading the drop as high prices put off buyers

London house prices posted their largest annual drop in almost eight years in April as buyers shunned the capital’s central areas.

The average asking price in the city fell 1.5 percent to 636,777 pounds ($813,000) this month from a year earlier, the largest annual decline since May 2009, property website Rightmove Plc said on Monday. On the month, London asking prices decreased 2 percent…

London House Prices Post Biggest Annual Decline in Eight Years

Share
Categories : Uncategorized
Comments (0)

Coldwell Banker Residential Brokerage hired Gaynelle Henger to manage the newest location of its recently rebranded Global Luxury program.

Coldwell Banker Residential Brokerage, a subsidiary of NRT LLC, recently opened a new Global Luxury sales office in Dallas. The company hired Gaynelle Henger to manage the location.

The new office is located at 5950 Sherry Lane, Suite 200, in the Preston Center submarket. The nine-story, Class A, Energy Star-rated office building offers 196,386 square feet of rentable space and about 600 parking spots. According to Yardi Matrix, TIER REIT acquired the property in 2014 from RREEF Property Trust, with Cushman & Wakefield currently serving as leasing manager. The asset is within walking distance of Hilton Dallas Park Cities Hotel and various restaurants, including True Food Kitchen and Hillstone…

Share
Categories : Uncategorized
Comments (0)
  • U.S. expected to impose duties of 20% to 30% this week: BMO
  • Central bank already adding ‘negative judgement’ in forecasts

Bank of Canada Governor Stephen Poloz has been highlighting the dangers of protectionism, and the country will probably get a taste this week as the U.S. is expected to issue preliminary countervailing duties on softwood lumber.

Bank of Montreal said in a report last week it expects duties in the range of 20 percent to 30 percent, with additional anti-dumping duties coming later in the year that could reach another 15 percent. And in a round-table interview with reporters Saturday, Poloz said the measures will probably have some impact on the nation’s economy…

Share
Categories : Uncategorized
Comments (0)

Renting rooms by the hour is not a new idea. Just ask any member of the world’s oldest profession.

But by the minute? Well, that’s relatively new. And getting to use a luxury hotel room for just enough time to do what you need to do and get on with your business—that’s a treat that’s only just now available, thanks to a new app called Recharge. An investment of JetBlue’s tech incubator, JetBlue Technology Ventures, Recharge Labs Inc. officially launched in 2015 in San Francisco. It expands to New York on April 24 with 16 luxury properties that range from the hipster-friendly Arlo, located in Hudson Square near the Financial District, to ritzy midtown five-stars such as the Quin and the Pierre

Share
Categories : Uncategorized
Comments (0)

CBRE is bringing its Workplace360 initiative down south with the opening of its new, state-of-the-art office on the 11th floor of 777 Brickell Ave., in Miami. The 18,921-square-foot office will feature both collaborative and private workspaces, as well as a Liquid Galaxy-powered theater. The theater’s advanced technology allows you to virtually navigate through different commercial real estate landscapes around the country on a 3D panoramic screen. The Workplace360 initiative’s goal is to provide a flexible, high-tech work environment that allows employees to choose their workspace. The office will be 100 percent free-address and paperless.

Share
Categories : Uncategorized
Comments (0)
  • Share of people who see rising home prices highest since 2008
  • Weekly polling also shows views on personal finances worsened

Optimism about home prices reached an all-time high in Canada just as policy makers stepped in to curb runaway prices in the country’s largest city.

The share of respondents in the weekly Bloomberg Nanos Canadian Confidence Index who see home prices rising in the next six months climbed to 48.5 percent, the most in records back to mid-2008. The overall confidence index reached 59.1, the highest since March and exceeding the 12-month average of 57.4.

Share
Categories : Uncategorized
Comments (0)
Department stores, electronics sellers, and clothing shops are most at risk.

Retailers are filing for bankruptcy at a record rate as they try to cope with the rapid acceleration of online shopping.

In a little over three months, 14 chains have announced they will seek court protection, according to an analysis by S&P Global Market Intelligence, almost surpassing all of 2016. Few retail segments have proven immune as discount shoe-sellers, outdoor goods shops, and consumer electronics retailers have all found themselves headed for reorganization…

Retailers Are Going Bankrupt at a Record Pace

Share
Categories : Uncategorized
Comments (0)