Real estate industry
The year 1995 was significant for the real estate industry, with industry expert Stan Ross of E&Y Kenneth Leventhal noting that it laid the groundwork for a major year in 1996. Ross highlighted key changes in the industry that occurred in 1995 and contrasted them with those expected
Financial services
Cadillac Fairview Inc., Canada's largest real estate empire, has been granted bankruptcy protection by a Toronto court, paving the way for the company to restructure its debt and avoid liquidation. The company owes over $5.28 billion, including $1.01 billion in senior debt and $1.95 billion
Financial services
Residential Services Corporation of America, a unit of The Prudential Insurance Company of America, has completed the acquisition of substantially all of the assets of Lomas Information Systems Inc., a subsidiary of Dallas-based Lomas Financial Corporation. This strategic move will allow RSCA to benefit from the increased productivity offered by
Real estate industry
Carena Developments Ltd. has gained full ownership of Brookfield Development Corp., a subsidiary of BF Realty Holdings Ltd., after acquiring BCE Inc.'s stake in the company. The transfer, valued at around $200 million, includes $175 million for BCE's equity in the landmark office tower and $25
Real estate industry
Leon Black's investment fund has acquired a significant portion of debt in Olympia & York Developments Ltd.'s U.S. subsidiary, putting him in a strong position to influence the company's restructuring. The subsidiary, Olympia & York Cos. (USA), is negotiating to restructure $5 billion
