Real estate industry
The Board of Directors of Neuberger Berman Realty Income Fund Inc. has declared a special distribution of $0.66550 per share payable to shareholders on December 29, 2006. This special distribution helps meet the Fund's 2006 distribution requirements for federal tax purposes. The distribution may consist of net
Real estate industry
BRT Realty Trust, a Great Neck, NY-based mortgage-oriented real estate investment trust, has announced the launch of a public offering of 2,800,000 common shares. The company has granted the underwriters an option to purchase up to 420,000 additional shares to cover over-allotments. The offering is being managed
Real estate industry
The Blackstone Group has agreed to acquire Equity Office Properties Trust, the largest office-building owner and manager in the United States, for approximately $36 billion. This deal marks the largest leveraged buyout in history, outpacing the $33 billion paid for HCA, a major hospital chain, earlier this year. The acquisition
Real estate industry
With the huge success of Parsvnath Developers' public issue, which generated a demand for over Rs 600 billion (US$13.4 billion) worth of shares, domestic real estate firms in India are planning to raise nearly Rs 225 billion through their public offerings. This significant development could change the
Real estate industry
E*Trade Financial Corporation, a leading financial services provider, has signed a new lease for 106,573 square feet at Harborside Financial Center in Jersey City, New Jersey. This long-term commitment, with a term of 15 years and seven months, solidifies E*Trade's presence as a premier tenant
Real estate industry
David Ross, the co-founder of Carphone Warehouse, has launched a property company called Kandahar Real Estate in a joint venture with Morgan Stanley. The business already owns £500m of property contributed by the two partners. Kandahar will seek to acquire or develop more retail and leisure schemes across the UK,
Real estate industry
Colliers International, a global property service consultant, has been appointed by DLF Ltd., India's leading real-estate developer, to offer retail development consultancy on its flagship shopping centers, Mumbai Mall and Mall Of India. This move marks Colliers International's entry into the Indian retail real estate market,
Real estate industry
Private equity funds are outcompeting real estate investment trusts (REITs) for prime commercial properties in Asia, driven by attractive returns and limited investment-grade opportunities. The private equity units of banks such as CLSA, Goldman Sachs, and Morgan Stanley are bidding aggressively for Asian commercial properties, fueled by returns as high
Real estate industry
Dubai will soon witness a groundbreaking initiative in waste management with the establishment of Dubai Recycling Park, a fully integrated waste management and recycling park that will revolutionize the way the Middle East manages waste. The park is a result of a collaboration between National Projects Holding Co, a subsidiary
Real estate industry
Dubai Investments Real Estate Company (DIRC), the real estate arm of Dubai Investments PJSC, has announced the launch of Ritaj, its first residential project at the Dubai Investments Park. This project aims to provide high-quality but affordable residential units to cater to the growing demand for housing in the UAE.
Real estate industry
Gazit-Globe Ltd., an Israeli real estate company, has purchased a 9% stake in Mills Corp. for $110 million and has proposed to invest up to $1.2 billion in new equity in the company. The investment is contingent on Mills concluding its pending sale of the Meadowlands Xanadu project. Gazit-Globe&
Real estate industry
The National Capital Region (NCR) market in India is poised to lead retail real estate development, with a predicted 78 new shopping malls totaling over 25 million square feet expected to be operational by 2008. Knight Frank's report, "India Retail Market Review," highlights the NCR'
