Real estate industry
Realty Income Corporation has received a 'BBB+' credit rating from Fitch Ratings for its $250 million senior unsecured notes issued at 99.404% of par to yield 5.826%. The company plans to use the proceeds from the offering, along with borrowings under its revolving credit facility, to
Real estate industry
Embassy Group, a leading Indian property developer, is gearing up to launch a $500 million initial public offering (IPO), as two people with knowledge of the matter revealed. The company, based in Bangalore, is likely to seek approval from the capital-markets regulator within two weeks to sell the shares. Embassy
Real estate industry
Wael El-Ebrashi, editor-in-chief of the independent Sawt El-Umma newspaper, will stand trial on July 18 at the Giza Criminal Court for charges of inciting the public against the new tax bill. This comes amidst a backdrop of growing controversy over the proposed real estate property tax law, which has sparked
Real estate industry
Developers accustomed to negotiating multimillion-dollar deals must now face the harsh realities of personal bankruptcy, a trend that may worsen in 2010 as more loans come due and lenders focus on collecting loan guarantees. Bankruptcy has become more common for developers, losing its stigma as an accepted restructuring tool, much
Real estate industry
Kimco Realty Corporation and the Canada Pension Plan Investment Board (CPPIB) have formed a joint venture to acquire prime neighborhood shopping centers throughout the United States. The initial investment of $370 million includes five former PL Retail properties acquired by Kimco in the fourth quarter of 2009. The joint venture,
Real estate industry
Green building, touted as an attractive option for environment-conscious home buyers, has created confusion due to the absence of a national code and the turf war between two green building rating agencies in India. The rating agencies, Leadership in Energy and Environmental Design (LEED) and Green Rating for Integrated Habitat
Real estate industry
The Value City store on North Lindbergh Boulevard in Florissant, Missouri, stood vacant for over a year and a half after filing for bankruptcy protection in October 2008. However, a new revitalization project is underway, with three national chain tenants - Best Buy, PETCO, and a third unidentified company -
Real estate industry
Indian stock markets extended their gains for the third consecutive day on Friday, led by a rally in realty and metal stocks, as well as positive global sentiments. The benchmark BSE Sensex advanced 1.18 percent, while the 50-share NSE Nifty rose 1.27 percent. This marked the biggest weekly
Real estate industry
Shimon Haber, a real estate developer, was sentenced to five months in prison and five months of home confinement for conspiring to launder money in exchange for official approvals from a Union City official. Haber, who pleaded guilty to the charges, admitted to conspiring to launder $24,000 through a
Real estate industry
Paul Salamon, a 21-year-old management/finance major at Case Western Reserve University, has designed a housing development plan that could bring vitality to Cleveland's University Circle area. Under the guidance of Jennifer Johnson, an associate professor of marketing and policy studies at Weatherhead School of Management, Salamon'
Real estate industry
The Sensex remained in the negative despite paring some of its losses, with sustained selling pressure observed in frontline stocks. Bankex, realty, and metal stocks traded lower, while IT stocks were the only outliers, showing a marginal gain. As of 10:53 a.m., the Sensex was trading down 170.
Real estate industry
Canadian trading is seeing unusual movements in prominent companies, with a mix of positive and negative news emerging in the market. Bank of Montreal, Bombardier Inc., Canadian Apartment Properties Real Estate Investment Trust, Cardiome Pharma Corp., Jaguar Mining Inc., and Quebecor Inc. are among the companies experiencing significant changes in
