Archive for November, 2008

Sands Project Causes Worry

A large unfinished project in Singapore involving Las Vegas Sands has the city-state making contingency plans.

Goldman Losing Real-Estate Guru

Stuart Rothenberg is leaving his job as head of Goldman Sachs Group Inc.'s real-estate investment division, which has raised some $26 billion for its real-estate funds since 1991.

ProLogis CEO Resigns

The resignation of the chief executive of the world's largest warehouse developer is another sign of pessimism toward the economy.

Investors Dump Mall, Industrial REITs

The latest meltdown in shares of mall and industrial REITs underscores the concern over a sharp, global economic slowdown in the wake of more dismal news from the retail sector.

Hypo Real Estate Posts Provisional Loss

Hypo Real Estate reported a provisional third-quarter loss on write-downs to its public finance subsidiary, and the company said it will shore up funding with a liquidity facility from the German government.

Calpers Confronts Huge Housing Losses

Calpers is taking a hit from the real-estate market, which is roiling its investments in land and housing projects.

Dubai Faces Hit as Property Boom Fades

Dubai's property boom appears finally to be over, with asking prices for some homes falling as much as 19% in October from the previous month.

Seller Financing Regains Favor

Developers Diversified Realty's offer to finance part of a property sale is the latest example of seller financing, which is now playing a role in more large deals.

Analysts Think Worst Is Yet to Come

The Los Angeles property market is looking more earthbound, as the global financial crisis is beginning to play itself out in the region's real estate.

Hilton Buyout Drags Blackstone

The downturn in the hotel market is making the acquisition of Hilton Hotels look like a big burden for Blackstone.