Regions International
CNL, Macquarie Plan $1.5B Global REIT
Jan. 07, 2009
Orlando-based CNL Financial Group and Sydney's Macquarie Group have joined forces for the first time to establish a new global REIT, CNL Macquarie Global Growth Trust Inc., which will pursue opportunities in just about every sector of commercial real estate in various areas around the world. The partners can afford to think big, as the proposed total offering for the REIT is $1.5 billion.
Office Market Positioned to Survive a Bruising Recession
Dec. 29, 2008
As a deep recession looms around the world, there is a country where a conservative investment community has resisted speculative office construction, enabling vacancy rates to fall to historically low levels and rents to continue rising through the third quarter of 2008.
ProLogis Buy Eases Debt Squeeze on European Unit
Dec. 22, 2008
Facing a looming CMBS debt maturity next summer, ProLogis European Properties is getting some much-needed breathing room from its corporate parent. In a deal valued at about 43 million euros, or $61 million, Luxemborg-based PEPR is selling ProLogis a 20 percent share of a private investment fund.
First Industrial Gets $110M Loan for CalSTRs JVs, Discontinues European Operations
Dec. 19, 2008
First Industrial Realty Trust Inc. has obtained a new $110 million term loan facility for its joint ventures with the California State Teachers’ Retirement System (CalSTRS), the second-largest public pension fund in the United States. The news came one day after the REIT said it was discontinuing its European operations as part of a cost-cutting measure.
AMB Leases 222,000 SF in Brussels
Dec. 18, 2008
AMB Property Corp. has leased approximately 222,000 square feet of its Brussels development , AMB Boom Distribution Center, stabilizing the 437,000-square-foot facility, which is now 97 percent leased.
Centro Staves Off Liquidation
Dec. 18, 2008
Australia-based shopping center owner Centro Properties Group has avoided liquidation by agreeing to give lenders 90 percent of the company’s stock in exchange for extensions on billions of dollars in debts.
Hilton Garden Inns to Debut in Saudi Arabia
Dec. 16, 2008
Hilton Hotels Corp. has unveiled plans to develop 13 Hilton Garden Inns, comprising a total of 2,500 rooms, in Saudi Arabia. The plan will mark the Garden Inn brand’s entry into the Saudi market.
Federal Reserve Starts Meeting Today, May Cut Rates
Dec. 15, 2008
A two-day meeting of the Federal Reserve begins today with expectations that it will cut the fed funds rate by a half-percentage point to 0.5 percent, according to CNNMoney.com. The U.S. automakers bailout still tops the news as top government officials said over the weekend that they might use taxpayer dollars set aside to bail out banks and Wall Street firms to keep troubled U.S. automakers out of bankruptcy, according to the CNNMoney report.
ULI Sees Turbulent Times for Asia Pacific CRE
Dec. 15, 2008
Declining asset prices, rising cap rates, and rising foreclosures have characterized the commercial real estate sector in the U.S. of late, but this gloomy scenario will likely become more familiar in the Asia Pacific region as well, according to the Emerging Trends in Real Estate Asia Pacific 2009 report, recently released by the Urban Land Institute and PricewaterhouseCoopers L.L.P.
ProLogis Closes $121M in Financing for Japan Fund
Dec. 11, 2008
Industrial property REIT ProLogis has closed $121 million in financing on behalf of one of its Japan Properties Fund II. The financing is with two separate banks: The Sumitomo Mitsui Banking Corp. and The Chiba Bank Ltd., both in Japan.
Wall Street Looks Ready to Bounce Back After Tuesday Losses
Dec. 10, 2008
Early morning indicators show preliminary numbers going up on the Standard & Poor's 500, Nasdaq and Dow Jones industrial average futures, according to CNNMoney.com. The $15 billion automaker bailouts continue to dominate the financial news as plans, so far, are for General Motors and Chrysler to receive the funding in order to maintain operations through the end of the year.
New Fund Focuses on Investments in U.S., South America
Dec. 09, 2008
New York City-based Falcon Real Estate Investment Co. has created a new investment fund that has four main sub-funds in three South American countries and the United States. The first phase of Falcon The Americas Real Estate Opportunity Fund is due to close in January 2009.
Infrastructure Shares Jump on Obama's Building Promises
Dec. 09, 2008
Investors see light at the end of the tunnel as infrastructure-related shares surged Monday, leading a broad market advance that lifted key indexes to their best levels in a month after President-elect Barack Obama's pledge to spend heavily on the nation's infrastructure, the Los Angeles Times reported.
HSBC Retakes London HQ from Metrovacesa
Dec. 09, 2008
Global banking giant HSBC and Spanish real estate developer Metrovacesa S.A. have called off the sale-leaseback of HSBC's headquarters in London's Canary Wharf.
Obama Weekend Address Leads to Market Rallies Worldwide
Dec. 08, 2008
Stockmarkets in Europe and Asia rallied strongly this morning after President-elect Barack Obama on Saturday pledged to spend hundreds of billions of dollars in a bid to drag America away from another great depression, according to The Guardian UK.
More Job Losses Reported, Payroll Data Set for Release Today
Dec. 05, 2008
Another round of reports come out today and the news continues to look ominous. U.S. non-farm payrolls data for November is set for release this morning and economists in a Reuters survey forecast 340,000 jobs were lost in the month, compared with a loss of 240,000 jobs in October, according to a Reuters report.
Six Flags Theme Park Coming to Qatar
Dec. 05, 2008
International theme park operator Six Flags Inc. will be extending its overseas reach with a park in Qatar, according to the terms of an agreement between Six Flags and Oryx Holdings, a diversified Qatar-based holding company.
General Growth Gets Two-Week Loan Extension
Dec. 02, 2008
One of the nation’s largest mall owners, General Growth Properties, Inc., reached an agreement Monday with the holder of a $58 million note to extend the maturity date to Dec. 11. The struggling REIT has been renegotiating with lenders for extensions including one made Sunday on $900 million in loans for two of its premier malls.
China's Tallest Tower Breaks Ground in Shanghai
Dec. 02, 2008
Ground has broken on Shanghai Tower, planned to be China's tallest building at 2,074 feet high. The project, being developed by Shanghai Tower Construction & Development Co. and designed by Gensler, is slated for completion in 2014.
International Real Estate at your Fingertips
Real estate news is occurring all the time, so providing a resource for the latest headlines is vital to real estate developers and other commercial property professionals. Because the industry is so competitive, any advantage can help you experience a greater chance of success. Subscribe to Commercial Property News and get all the latest international real estate news so you can maximize your investment opportunities throughout the world.
|
|
