Americas

America wins The Belfry golf course

04 May 2012

Bankrupt Sean Quinn irons out £90m sale details with US private equity investor KSL

Lend Lease pays $56m in fines over US fraud

26 April 2012

The Australian construction and development company Lend Lease has had to pay $56m in fines to avoid criminal prosecution in the US.

Vornado promise from Roth

20 April 2012

Steven Roth, chairman of US REIT Vornado Realty Trust, is putting “everything on the table” in an attempt to lift the company’s share price.

BNP Paribas Real Estate’s team America

23 March 2012

BNP Paribas Real Estate has signed an alliance agreement with US firm Transwestern.

BNP Paribas Real Estate agrees US alliance

20 March 2012

BNP Paribas Real Estate has strengthened its presence in the United States by signing an alliance agreement with Transwestern.

Cushman & Wakefield: International Investment Atlas - Summary

8 March 2012

Global investment rose 14% in 2011 to US$727bn (US$808bn including multifamily) and volumes are now 83% up on their 2009 lows.

Candy enters US luxury market with New York penthouse

6 March 2012

Christian Candy has taken his first step into the American luxury residential market with the purchase of a three-storey penthouse apartment at the Plaza Hotel, overlooking Central Park.

US insurer breathes MetLife into UK debt market

02 March 2012

US insurer MetLife provided $800m of debt to the UK property market and could provide up to $2bn more over the next few years.

$1bn Empire State REIT float

17 February 2012

Owner Malkin Holdings prepares IPO of portfolio that includes New York landmark

Boris triumphs at London vs New York debate

9 February 2012

London claimed an overwhelming victory over New York at the LandAid “Battle of the Giants” debate last night as Boris Johnson faced off against the deputy mayors of New York.

Newmark Knight Frank: Manhattan Year End Review - 2011

6 February 2012

Sales activity in 2011 remained strong as the number of closed transactions increased by 33% over the volume in 2010.

Apprentice star Campbell joins Boris for "London vs New York" debate

30 January 2012

Former “The Apprentice” winner Tim Campbell will join Mayor of London Boris Johnson in a head-to-head London-versus-New York debate next week.

Henderson: Think/US 2012

20 January 2012

Today, there is a prevalent concern that governments no longer have the tools, balance sheets, or gumption necessary to further stimulate their economies or to impact markets in a meaningful way.

Blackstone JV in $1.4bn shopping centre deal

11 January 2012

A joint venture between private equity firm Blackstone and DDR Corporation has agreed to buy a $1.4bn portfolio of 47 US shopping centres.

McArthurGlen to open first Vancouver outlet

17 November 2011

McArthurGlen Group is to partner with the Vancouver Airport Authority to open its first outlet in the Canadian city.

Voyages of discovery

7 October 2011

Six surveyors travelled the world this summer through a global internship scheme. Christine Eade hears their experiences in the latest in our series of monthly 1st Friday articles for young people in property

EXPO REAL 2011: Aberdeen Asset Managers to increase spending outside Europe

4 October 2011

Aberdeen Asset Managers will increase its spending in countries outside its traditional European core, the company’s global head of property said today.

Equity falls in all regions bar Americas

30 September 2011

The amount of available equity to invest in property across the globe has fallen for the first time in two years because of the global debt crisis, a DTZ report suggests

Squarestone Brasil enjoys 24% NAV rise

23 September 2011

Squarestone Brasil demonstrated further proof of the strength of the emerging markets by achieving a 24% rise in net asset value in the first six months of the year.

Townsend sells 70% stake to new investment company

2 September 2011

Founders Ahern and Lynch will continue to run firm alongside Aligned Asset Managers’ team

Westfield buys 50% of Brazil mall operator in its first foray in emerging markets

10 August 2011

Westfield Group has acquired a stake in a San Paolo-based mall owner for its first step into the emerging markets.

SITQ offloads €800m of European assets

5 August 2011

Pension fund to quit offices and ’risky’ hotel sector to focus on Canadian market

Borders to close bookstores in US

22 July 2011

Borders is set to be liquidated in the US.

Guardian hopes to make it on Broadway

8 July 2011

The Guardian is close to signing a 9,000 sq ft lease at Thor Equities’ 536 Broadway in New York, as UK newspapers take space near each other, creating a “mini-Fleet Street”

Brookfield lures CBRE man

17 June 2011

Giant Canadian fund manager Brookfield Asset management has poached the top executive of CB Richard Ellis in New York to run its listed US office subsidiary

Gore’s firm in talks over AirW1 space

3 June 2011

Capita Symonds says: ‘hello world’

27 May 2011

Firm leaves global ONCOR network to focus on overseas expansion

Conde Nast agrees 1m sq ft lease of One World Trade Center

26 May 2011

Publishing giant Conde Nast has taken a one million sq ft lease at One World Trade Center, the office skyscraper being developed on the site of the 9/11 terrorist attack.

Huge broker buys Knight Frank’s US partner

13 May 2011

Financial broker BGC buys Newmark Knight Frank to enter US real estate market

Savills teams up with tenant rep giant CresaPartners

4 May 2011

Savills has formed a strategic alliance with CresaPartners, North America’s largest specialised tenant representation firm.  

Savills and Silverpeak Real Estate Partners form North America JV

13 April 2011

Savills has formed a joint venture with investment advisory business Silverpeak Real Estate Partners, creating Savills Liberty Street Asset Management, an asset management company that will serve its global client base in North America.

Squarestone secures £72.6m Brazil mall funding

1 April 2011

Squarestone Brasil, the Anglo-Brazilian development company, has signed agreements to fund and develop the Golden Square shopping mall in Brazil.

Apollo Global prepares for New York IPO

22 March 2011

Apollo Global Management, the private equity firm, plans to raise as much as $417m in an initial public offering, which would see it join rivals Blackstone and KKR on the New York Stock Exchange.

Grubb & Ellis explores potential sale

22 March 2011

Grubb & Ellis, the US property services firm, has hired investment bank JMP Securities to explore “strategic alternatives”, including a sale or merger, it said today.

Henderson acquires Capistrano Gardens LA apartments for $16m

7 March 2011

Henderson Global Investors has acquired Capistrano Gardens Apartments, a 120 unit apartment community in the Los Angeles suburb of Norwalk, California for $16m (£9.8m).

New York’s robust retail rents

04 March 2011

Shop rents on the prime streets of New York have bounced back more robustly than anywhere else in the world since the recession

Savills revives US expansion

2 March 2011

More than three years after it took its first steps into the New World, Savills is expanding its US business on the back of growing international interest in the country from investors.

US shopping centre portfolio acquired for $75m

29 December 2010

A portfolio of seven shopping centres across the US has been acquired for $75m.

MAPIC 2010: Why Debenhams is opening in Iraq and other international expansion questions

18 November 2010

Debenhams is planning to move into a host of new countries as burgeoning middle classes create more retail demand, John Scott, head of international business development told Property Week at MAPIC yesterday.

Former WP Carey foursome set up sale-and-leaseback firm

20 October 2010

Four former executives at WP Carey have set up a company to carry out sale-and-leaseback property deals.

Goldman Sachs sets up US property fund management division

13 October 2010

Goldman Sachs has hired Jeffrey Barclay from ING Clarion Partners to lead a new US property business within its asset management division.

CBRE in $1.5bn debt refinancing talks

5 October 2010

CB Richard Ellis is in talks about refinancing $1.5bn of debt.

Blockbuster files for bankruptcy protection

23 September 2010

Blockbuster filed for bankruptcy protection in the US today as it struggles to keep up with its online rivals.

Grafton’s US alliance

10 September 2010

Global investor enlists Nigel Kempner for UK push as America’s Oaktree prepares £1bn advance on Britain

Century 21 to open second Manhattan store

2 September 2010

US discount department store Century 21 is to open its second Manhattan store. 

Real Capital Analytics: Global Capital Trends - Q2 2010

6 August 2010

The second quarter was marked by dynamic changes throughout the property markets. Transaction activity slowed in Asia Pacific and not entirely due to governmental curbs instituted by China.

Mortgage investors scale back

2 August 2010

Mortgage investors have been scaling back positions on fears that the US government might again intervene in the home loans market.

Owners, advisers and tenants unite for “green lease action plan”

28 July 2010

Leading building owners and advisory firms in the US have joined corporate tenants in committing to a statement of principles and a Green Lease Action Plan to resolve the challenges of energy and sustainability in leased office buildings.

General Growth brings JLL in on 11m sq ft in US

13 July 2010

General Growth Properties, the US shopping centre owner, has appointed Jones Lang LaSalle on 11m sq ft of retail property.

RICS: Ireland and the US set for biggest rise in distressed sales

7 June 2010

Irelandand the US will see the greatest rise in “distressed sales” of property according to a survey published today by the RICS.

US Justice Department looks into Hamptons home selling

19 May 2010

The US Justice Department is seeking information about how homes are sold in New York’s home to the rich and famous, the Hamptons, Bloomberg reported today.

Signs that development slump ending as US architect demand rises

19 May 2010

Demand for architects in the US rose to the highest level since January 2008 last month, Bloomberg reported today.

US property returns to positive returns

14 May 2010

US commercial real estate has delivered its first positive quarterly return in 18 months.

Zell sells stake in Brazil housebuilder

14 May 2010

Billionaire Sam Zerll has sold part of his stake in Brazil’s second largest housebuilder Gafisa, Bloomberg reported today.

Wyclef Jean picks design for Haiti charity leisure development

14 May 2010

An American student has won a Royal Institute of British Architects international competition to design a music studio in Cité Soleil, Port-au-Prince, Haiti, on behalf of rapper and singer Wyclef Jean and his charity, Yéle Haiti

Buyout firms compete for US commercial real estate loans firm

13 May 2010

Buyout firms Apollo Global Management LP and Centerbridge Capital Partners are competing to takeover CW Financial Services, the parent of the second largest manager of delinquent US commercial real estate loans, Bloomberg said today.

Banks embrace ‘extend and pretend’ as U.S. hotels await rebound

13 May 2010

A year ago, Sam Nazarian was concerned bankers wouldn’t rework the mortgage on his SLS Hotel at Beverly Hills after the recession cut occupancy and the luxury property lost money.

Tower deal signals improving market

12 May 2010

In one of the city's biggest real-estate deals since the downturn, SL Green Realty Corp. is selling a stake in the trophy McGraw-Hill building on Sixth Avenue for $500m to raise cash for a buying spree.

Knight Frank: Global Real Estate Markets 2010

7 May 2010

"At the start of 2009, nearly every global office market was in the midst of a period of weak occupier demand, falling rents and rising vacancy rates. As the year progressed, however, there was a divergence in the fortunes of the major global markets, as some showed early signs of recovery, while others continued to suffer. By the end of the year, prime office rents had begun to move upwards in Hong Kong, stabilised in the West End of London, and continued on a downward trend in ...

Goldman to back Extended bid

10 May 2010

With a key deadline looming in bankruptcy court, Goldman Sachs Group is close to a deal to provide $2.2bn in financing to a group led by Starwood Capital Group in its bid for hotel chain Extended Stay, according to people familiar with the matter.

Sam Zell's top tips for surviving the recession

7 May 2010

Sam Zell’s top tip for surviving the recession is “having conviction in the assets that you own”

Simon Property's rents firm as tenants recover

4 May 2010

Simon Property Group said in the latest quarter vacancy rates held steady and rents edged higher as its tenants' sales rose 6.6% from a year earlier.

Oil leak 'worse than Katrina' for property

4 May 2010

BP's burgeoning oil spill in the Gulf of Mexico may hurt property owners more than any storm as sludge threatens to wreak long-term damage on the region’s most valuable asset: its environment.

Governments take Manhattan

30 April 2010

Foreign governments have emerged as an engine of growth as the city's real estate market struggles to shrug off the doldrums, becoming major buyers of townhouses, office condominiums and other properties.

Lehman seeks stalled Manhattan condo foreclosure

29 April 2010

Lehman Brothers Holdings sued to foreclose on a stalled Manhattan condominium project, alleging developer Yitzchak Tessler failed to repay the $136.8m senior mortgage.

Smart capital 'targeting US commercial property'

28 April 2010

Principal Financial Group chief executive officer Larry Zimpleman, whose firm holds more than $30bn of real estate assets, said new buyers are entering the US commercial market and pushing up prices.

US housing showing recovery signs

28 April 2010

US housing prices are showing signs of recovery after a slide that sent values to levels last seen in 2003 and left almost a quarter of homeowners with properties worth less than their mortgages.

RXR targets NYC tower

27 April 2010

Real estate investor Scott Rechler’s RXR Realty is in exclusive discussions to buy 340 Madison Ave, a 22-story midtown Manhattan office building, from Broadway Partners, a person familiar with the deal said.

Tax breaks boost US home sales

23 April 2010

Tax credits sparked a big jump in home sales last month, as first-time buyers took advantage of low prices and interest rates.

Simon adds $1.1bn to General Growth proposal

22 April 2010

Simon Property Group added four backers to its proposal to help rival mall owner General Growth Properties Inc. emerge from bankruptcy, increasing the plan’s total investment by $1.1bn.

Atlantic City venues seek investors

22 April 2010

Five casino assets in Atlantic City are looking for buyers, raising concerns that the East Coast gambling enclave could be starved for new investment at a moment when competition from elsewhere is rising.

Hotels struggle under debt burden

21 April 2010

More than $60bn of hotel buyouts during the recent real-estate boom saddled several name-brand hotel chains with mountains of debt. Now, many are finding it tough to restructure and reduce those complicated debt burdens with the hotel industry mired in a downturn.

Abacus deal 'as bad as they come'

20 April 2010

Abacus 2007-AC1, the mortgage deal at the centre of Friday's civil fraud lawsuit against Goldman Sachs, also boasts another dubious distinction: It was one of the worst performing mortgage deals of the housing crisis, based on one measure of rating-firm downgrades.

US mortgage areas down again

19 April 2010

In an encouraging sign for the US housing market, mortgage delinquencies fell in March for the second month in a row, according to new data.

Simon matches Brookfield General Growth bid

15 April 2010

Simon Group has raised the stakes in the battle for bankrupt rival General Growth Properties Inc. by effectively matching a bid from Brookfield Asset Management Inc. and other shareholders.

US bank seizures set record

15 April 2010

Foreclosure filings in the US rose 16% in the first quarter from a year earlier and bank seizures hit a record as lenders stepped up action against delinquent homeowners, according to RealtyTrac.

Feds selling bad loans on 'hard to lose' terms

14 April 2010

Starwood Capital Group, Colony Capital and TPG, whose leaders profited from the 1990s savings and loan crisis, are among firms buying assets from the Federal Deposit Insurance Corp. for as little as 22 cents cash on the dollar, according to data compiled by Bloomberg.

Creditors chase Opus Corp owning family

12 April 2010

Opus Corp., formerly one of the country's largest developers of commercial property, transferred tens of millions of dollars to its controlling family in the years preceding the collapse of the company's operations.

US home supply rises

8 April 2010

The number of homes listed for sale increased in many metropolitan areas in March.

US regional mall vacancies hit decade high

7 April 2010

Vacancies at the largest US retail centers rose to the highest level in at least a decade as unemployment and “inconsistent” consumer spending reduced demand from tenants, Reis Inc said.

US office market 'steadies'

6 April 2010

Landlords of office buildings continued to cut rental rates in the first quarter, although the size of the reductions slowed and seemed to indicate that commercial real estate was starting to steady after a brutal 2009.

US apartment rents dip as vacancies soar

6 April 2010

US apartment rents dropped in the first quarter and the vacancy rate remained at a record as unemployment near a 26-year high limited tenant demand.

Fed opens books toxic assets

1 April 2010

The Federal Reserve Bank of New York lifted a veil of secrecy on the troubled mortgage assets it bought as part of the 2008 rescues of Bear Stearns and AIG.

Carnival atmosphere

Global April 2010

Brazil could be property’s next success story, and some of the world’s biggest cross-border investors are joining the party

My house, your market

Global April 2010

The Brazilian government’s affordable housing programme — My House, My Life — is currying favour with the electorate and attracting international developers

Rates cut could cool inflation but kill demand

Global April 2010

Investors are bracing themselves for a tightening of monetary policy after the central bank warned that inflation is likely to rise from 4.86% to 5% by the end of 2010

STEVE CUOZZO: New York’s rental meltdown may finally have come to a halt

Global April 2010

New York’s commercial brokers shared a sour laugh this month. Cushman & Wakefield reported that, in February, the asking rent for the average Manhattan office building rose for the first time since September 2008 — by only two cents

US home prices in first fall for eight months

30 March 2010

Home prices probably fell in January for the first time in eight months, one reason Americans are concerned about the state of the US economy.

Deal reached for Ground Zero rebuild

26 March 2010

After months of acrimonious negotiations, government officials and developer Larry Silverstein reached a deal to rebuild the World Trade Center site and end an impasse that has stalled progress since the complex was destroyed in the 9/11 terrorist attacks.

Obama to beef up mortgage rescue scheme

26 March 2010

The White House will today announce an expansion of its foreclosure-prevention efforts to include reducing mortgage loan balances for some borrowers, a controversial step that policy makers have long resisted, people familiar with the plans said.

"Double Dip" in 12 US city house prices

24 March 2010

Twelve US cities, including Boulder, Colorado, and Providence, Rhode Island, are showing extended declines in housing values, reversing signs of a sustained recovery last year, according to Zillow.com.

Invesco in first $120m closing of US real estate fund

24 March 2010

Invesco Real Estate has had its first closing of a US real estate fund - US IV fund - which is the fourth fund in a series of “tactical funds” investing European institutional capital into the US real estate markets.

Luxury home prices dip on global crisis

23 March 2010

Luxury homes became more affordable last year as the financial crisis eroded prices from Monaco to Barbados, according to Knight Frank.

Four Seasons Maui misses mortgage payment

23 March 2010

The Four Seasons Maui has gone delinquent on its $425m of mortgages just as the Four Seasons New York and others have reached compromises with their lenders.

US commercial property index up for third month

22 March 2010

US commercial property values rose for a third month in January as the economy grew, according to Moody’s Investors Service.

US discounters to grow on 'new frugality'

22 March 2010

Dollar General, Saks’s Off 5th and Chipotle Mexican Grill are among the discounters and fast-food chains set to expand in 2010 as US consumers embrace a “new frugality,” according to Colliers International.

Supply of foreclosed US homes rises

19 March 2010

The supply of foreclosed homes that banks need to sell is rising again, signalling further downward pressure on home prices in some parts of the US.

Simon tipped to be eyeing new General Growth bid

17 March 2010

Simon Property Group is preparing a new offer for General Growth Properties, a month after being turned down by its largest rival, according to a person with knowledge of the plan.

US housing starts slump

17 March 2010

Winter storms slowed new home construction in February, the latest blow for a housing market that remains strained by foreclosures and tight credit.

New York and London tied as top finance centre

12 March 2010

London lost its lead over New York City in the latest biannual ranking of financial centers compiled by Z/Yen for the City of London Corporation, the Financial Times reported.

$1bn US firm targets Gulf and South America

10 March 2010

Blumberg Capital Partners, a leading US-based investment firm, has launched a $1bn commercial real estate fund to capitalise on distressed properties in the US, the Gulf and Brazil, the firm’s CEO has said.

Apollo poised to take control of Citi Property Investors

10 March 2010

Leon Black’s Apollo Global Management is the preferred bidder to take control of Citi Property Investors, the real estate investment arm of Citigroup.

Farkas buys mortgage firm

9 March 2010

New York real-estate investor Andrew Farkas has closed a deal to buy Centerline Holding, one of the USA's largest commercial-mortgage-servicing specialists, putting in $100m in new equity and assuming about $180m of Centerline's debt.

Land values undermine Napa Valley vineyards

8 March 2010

For California’s Napa Valley, producer of the most expensive US wines, 2010 may be a vintage year for foreclosures as the industry is squeezed by falling land values and a consumer shift to cheaper brands.

CPC’s Beverly Hills saga concluded

05 March 2010

Christian Candy’s CPC Group’s Project Lotus, the vehicle set up to hold the prized 8 acre development site 9900 Wilshire in Beverly Hills, last week transferred its ownership to the lending group headed by Mexico’s Banco Inbursa in a non-judicial foreclosure sale.

Global investment to rise 30% in 2010

3 March 2010

Global investment volumes will near $500bn this year following investment surges in China, the UK and the US, research from Cushman & Wakefield has said.

General Growth look to get reorganised by October

2 March 2010

General Growth Properties, the bankrupt owner of more than 200 US malls from Boston to Los Angeles, aims to confirm a reorganisation plan by 5 Oct, after taking 60 days to consider proposals that compete with one from Brookfield Asset Management.

US builders work directly for banks

1 March 2010

Home builders in some of the nation's hardest-hit housing markets are going to work directly for banks, in a little-used arrangement that is helping to ameliorate conditions in some battered local economies.

Freddie Mac losses ease but warns on future

26 February 2010

Freddie Mac posted a smaller loss last year than in 2008 and said for the third consecutive quarter that it won't need to ask the government for additional bailout funds. But the company says conditions could worsen as foreclosures pick up later this year.

General Growth to split as Westfield enters fray

25 February 2010

General Growth Properties plans to split itself in two as part of its move to exit bankruptcy that includes a $2.63bn investment from Brookfield Asset Management.

Brazilian shopping centre company AIMs to raise £250m

24 February 2010

In the first UK property flotation this year a Brazilian shopping centre company is aiming to raise £250m through a listing on AIM next month.

Jump in US commercial sales

24 February 2010

The number of commercial real-estate sales rose sharply in December, triggering fresh debate about whether the sector has reached bottom.

US new homes sales up on tax credit extension

24 February 2010

Sales of new homes in the US probably rose in January as an extension of a first-time homebuyers’ tax credit spurred demand from a nine-month low, economists said before a report today.

Farkas re-enters the fray

22 February 2010

Andrew Farkas, who rose to prominence in New York real estate during the mid-1990s, by picking through the wreckage of commercial real estate.

Silverstein offers $1bn to speed WTC rebuilding

19 February 2010

Larry Silverstein, the developer of New York’s World Trade Center site, offered as much as $1bn of equity, tax-exempt financing, insurance funds and cost savings to expedite skyscraper construction at Ground Zero.

Blackstone ponders joining Simon General Growth bid

19 February 2010

Blackstone Group, the world’s largest private-equity firm, may join Simon Property Group’s bid to buy bankrupt General Growth Properties, two people with knowledge of the discussions said yesterday.

Simon pours heat on General Growth

18 February 2010

Mall giant Simon Property Group Inc. warned General Growth Properties Inc. late Wednesday that Simon might drop its $10bn takeover bid for the company or go hostile if General Growth didn't come to the bargaining table soon.

Foreclosure overhang 'will push down prices'

17 February 2010

Foreclosures will cause US home prices to fall this year as lenders buck federal pressure to modify loans, according to a report from Standard & Poor’s Financial Services.

General Growth bidding war after Simon offer?

17 February 2010

Simon Property Group's offer to buy General Growth Properties out of bankruptcy for more than $10bn may start a bidding war for the company, the owner of four out of five of the best-performing US malls.

Canada to tighten mortgage rules in face of bubble

16 February 2010

Canadian finance minister Jim Flaherty is set to tighten rules in the country’s mortgage industry, according to two government officials familiar with the plan, as record activity prompts talk of a housing bubble.

Brookfield fund buys JP Morgan assets

15 February 2010

A real-estate fund run by Brookfield Asset Management said Thursday it acquired 16 office properties with about 2.9m square feet from JP Morgan Chase. The price was about $200m, according to a person familiar with the matter.

US mortgage rates fall under 5%

12 February 2010

Home-mortgage rates fell this week, with the average rate on 30-year fixed-rate mortgages dropping back below 5% as Treasury yields continue to fluctuate, according to Freddie Mac's weekly survey.

New Jersey consider Xanadu mall surrender

10 February 2010

As the developer of the stalled Xanadu project in New Jersey struggles to line up new finance, the state's new governor have floated another possibility if the $2bn project can't get its act together: Surrender it back to the state.

Israeli investor Zisser plans $1bn US fund

9 February 2010

Israeli property investor Motti Zisser is making the plunge into the US real estate market with plans for a $1bn fund.

Launch of new Global interactive magazine

5 February 2010

Property Week has launched Britain’s first fully interactive online business magazine today.

US home ownership hits decade low

3 February 2010

The proportion of Americans owning their homes fell to the lowest point in nearly a decade at the end of 2009, reflecting continuing troubles in the housing market even as the sector showed signs of stabilising.

Obama dodges Fannie and Freddie reform

2 February 2010

President Barack Obama’s budget blueprint for the next fiscal year excludes the $6.3tr in liabilities of government-controlled Fannie Mae and Freddie Mac and delays for a second time a decision on restructuring the mortgage-finance companies that were seized 17 months ago.

Obama housing rescue under pressure

29 January 2010

President Obama’s efforts to bolster the US housing market, the trigger of the worst recession since the 1930s, may be undone by record unemployment and repossessions by lenders.

Emerging markets lead the way in investor activity boom

28 January 2010

Emerging markets led the way as investor activity rocketed by 70% in the last quarter of 2009, the Royal Institution of Chartered Surveyors has said.

Hamptons New York home leap on bargains

28 January 2010

Home sales in the Hamptons, the New York vacation getaway for dealmaker Stephen Schwarzman and movie star Sarah Jessica Parker, surged 59% in the fourth quarter as two years of declining prices lured buyers.

US housing edges towards recovery

27 January 2010

There is evidence the US housing market is healing after a four-year slump, but the danger of further price drops remains amid persistent job-market weakness, according to The Wall Street Journal's quarterly housing survey.

US home sales plunge the most in 40 years

26 January 2010

Sales of previously occupied US homes took the largest monthly drop in more than 40 years last month, sinking more dramatically than expected after lawmakers gave buyers additional time to use a tax credit.

Billionaire eyes Stuyvesant Town swoop

26 January 2010

Billionaire investor Wilbur Ross and partners. including developer Richard LeFrak. may consider buying the Stuyvesant Town-Peter Cooper Village apartment development after its owners cede control to lenders.

New Jersey Xanadu mall has 'failed'

25 January 2010

The developers of the $2bn Xanadu shopping mall and entertainment complex in New Jersey need to complete the project or turn it over to the state, a report by advisers to Governor Christopher Christie said.

Barbados bails out hotel project

22 January 2010

Barbados, a popular vacation spot for the affluent, is bailing out the troubled Four Seasons luxury-resort development on the tiny island. Construction of the project stalled a year ago as financing dried up and sales of its private villas slowed, after initially attracting a cast of celebrity buyers.

US housebuilders expect recovery

20 January 2010

US housing construction is expected to rebound this year from the severely depressed 2009 level, but the market remains fragile as foreclosures continue to rise.

Credit fears could douse US rally

15 January 2010

Commercial real-estate problems may be about to halt the recent rally enjoyed by US regional banks.

US foreclosures may hit 3m in 2010

14 January 2010

A record 3m US homes will be repossessed by lenders this year as high unemployment and depressed home values leave borrowers unable to make their house payment or sell, according to a RealtyTrac Inc forecast.

Washington to topple New York as office top dog

11 January 2010

The office market in Washington DC, is poised to topple New York as the nation's most expensive, reflecting the declining fortunes of the nation's financial center and the government expansion under way in the US capital.

Tishman and BlackRock to miss Stuyvesant payment

11 January 2010

Tishman Speyer Properties and BlackRock will miss a bond payment today on debt from their $5.4bn purchase of Manhattan’s Stuyvesant Town and Peter Cooper Village apartments, the companies said in a statement.

Banks refinance to extend Broadway run

8 January 2010

A syndicate of banks led by Bank of China that includes German lenders DekaBank and Landesbank Baden-Wurttemberg has refinanced one of New York’s landmark buildings

PRUPIM's International Real Estate Perspective - January 2010

18 December 2009

"After the synchronized worldwide slowdown, global economies are making good progress towards recovery with economic statistics confirming that the United States and Japan pulled themselves out of recession in the third quarter of the year. While the recovery trend is established in the majority of the G20 countries, a few nations, including the UK and Spain, are lagging behind, recording further economic contraction over the third quarter."

US commercial construction spend tipped for 13% fall

6 January 2010

Construction spending on hotels, office buildings and retail centers may fall 13% this year, the second straight annual decline amid a drop in property prices, the American Institute of Architects said.

New York's Freedom Tower for sale

5 January 2010

New York’s Port Authority is selling a stake in Ground Zero’s Freedom Tower.

Manhattan apartment prices drop by a fifth

5 January 2010

Manhattan apartment prices fell for a third consecutive quarter as Wall Street job losses drained demand and the decline in co-op and condominium values reached 21% since the market peak.

UBS hunting for new New York space

29 December 2009

UBS is searching for as much as 800,000 sq ft of New York-area office space, making it the biggest tenant shopping the market as rents fall, two people familiar with the plans said.

Morgan Stanley surrender five San Francisco towers

17 December 2009

Morgan Stanley, the securities firm that spent more than $8bn on commercial property in 2007, plans to relinquish five San Francisco office buildings to its lender two years after purchasing them from Blackstone Group near the top of the market.

General Growth restructuring given nod

16 December 2009

General Growth Properties, the second-largest US mall owner, has won permission from a bankruptcy judge to restructure about $10.25bn in debt at some of its shopping centres and office buildings.

Fannie and Freddie regulator seeking more aid

15 December 2009

Fannie Mae and Freddie Mac’s federal regulator is renegotiating the companies’ financing plan with the US Treasury Department and may seek an increase to their $400bn federal lifeline before the end of the year, according to people familiar with the talks.

US foreclosure plan still a dud

11 December 2009

Fewer than 5% of borrowers participating in the Obama administration's foreclosure-prevention program, about 31,000 in all, have received permanent loan modifications, the Treasury Department has said.

US homeowners lost $5.9tr in bust

9 December 2009

US homeowners have lost about $5.9tr in value since the housing market’s peak in March 2006 as mounting foreclosures and the recession weighed on prices, according to Zillow.com.

Push to complete America's tallest building

8 December 2009

The stalled construction of North America's tallest building, a 150-story luxury residential tower planned for downtown, may get a boost from unionised construction workers desperate for jobs.

US says TARP cost is $200bn below expectations

7 December 2009

The Obama administration expects the cost of the Troubled Asset Relief Program to be $200bn less than projected, helping to reduce the size of the budget deficit, a Treasury Department official said yesterday.

US 30-year mortgage rate hit 38-year low

4 December 2009

Mortgage rates generally fell again this week, with the average rate on 30-year fixed-rate mortgages reaching the lowest level in at least 38 years, according to Freddie Mac's weekly survey.

General Growth plans to keep key malls

3 December 2009

General Growth Properties plans to emerge from bankruptcy without selling its best-performing shopping malls after reaching agreement with lenders, a strategy that may thwart the acquisition ambitions of competitor Simon Property Group Inc.

World offices centres get cheaper by the dozen

1 December 2009

The world’s most expensive office markets all got a cheaper this year.

New US guidelines aim to give alternative to foreclosure

1 December 2009

The Obama administration has laid out final guidelines that should make it easier for some financially troubled borrowers to sell their homes.

Win two tickets to MIPIM

27 November 2009

We need your help with the 2009/2010 RICS and Macdonald & Company European Property Market Remuneration Survey.

Stuyvesant Tenants could seek control of Tishman account

25 November 2009

Tenants of Stuyvesant Town and Peter Cooper Village, the Manhattan apartment complexes facing default by landlords Tishman Speyer Properties and BlackRock Realty, may seek control of an account holding disputed rent payments.

Disastrous New York deal restructured

20 November 2009

The US real estate arm of Africa Israel Investments has tentatively agreed with creditors to restructure its disastrous acquisition of the former New York Times headquarters in a deal that will wipe out more than $400m debt.

Chile warming up

20 November 2009

There are signs the 300-meter (984-foot) Costanera Center in Santiago tower may resume construction, signalling an economic recovery is also under way in Chile.

JER lays off directors in further reshuffle

20 November 2009

US fund manager makes Chamieh, Merchant and Hancock redundant

Starwood Hotels to save with move to Connecticut

19 November 2009

Starwood Hotels, the third-largest US lodging company, plans to move its headquarters to Stamford, Connecticut.

Beazer chief set for bonus 'clawback' claim

17 November 2009

Beazer Homes, which last year settled US allegations that it misstated earnings, said its chief executive officer may be sued by regulators to recover incentive pay he collected.

Maguire Properties faces LA foreclosure

17 November 2009

Bank of America sued Maguire Properties, the largest office landlord in downtown Los Angeles, in a foreclosure action seeking control of a 16-story building.

US foreclosures top 300,000 for 8th month

12 November 2009

US foreclosure filings surpassed 300,000 for an eighth straight month as unemployment made it tougher for homeowners to pay their bills, RealtyTrac Inc said.

Fannie and Freddie warm of deeper losses

12 November 2009

Fannie Mae and Freddie Mac, already reeling in red ink, are warning they could face additional losses from the weakening condition of mortgage-insurance companies.

US home sellers offer $28.1bn of incentives

11 November 2009

US home sellers with properties on the market as of 1 Nov had slashed asking prices by $28.1 billion as they sought to attract buyers, Trulia said.

Fewer US homeowners underwater

9 November 2009

The number of U.S. homeowners who owe more than their properties are worth fell in the third quarter as values stabilized and some homes were lost to foreclosure, Zillow.com said.

US commercial property loans down more than half

6 November 2009

US mortgage lending for commercial property fell 54% in the third quarter from a year earlier, led by a decline in loans for malls and shopping centers, the Mortgage Bankers Association said.

‘Worst is yet to come’ for America’s beleaguered real estate markets

Global November 2009

Report by ULI and PricewaterhouseCoopers finds that conditions are expected to deteriorate

US housing inventory falls

5 November 2009

The number of homes listed for sale fell in many US cities in October as buyers sought to qualify for a federal tax credit.

Service industries in U.S. probably epanded for second month

4 November 2009

Service industries in the U.S. probably expanded in October for a second month as gains in manufacturing and housing rippled through the biggest part of the economy, a private survey may show today.

Sternlicht Wagers on Greenwich Rebound by Raising Home Price

4 November 2009

Real estate investor Barry Sternlicht is betting the Greenwich, Connecticut, housing market is making a comeback.

Banks get new lending rules

2 November 2009

Federal bank regulators issued guidelines allowing banks to keep loans on their books as 'performing' even if the value of the underlying properties have fallen below the loan amount.

Landlords offering incentives to stay in apartments

2 November 2009

Amid the jobless recovery, some landlords are showering flat-screen TVs, cash, rent cuts and other incentives on tenants to encourage them to renew their apartment leases and thus avoid the expense of filling empty units.

US REITs yet to hit bottom

29 October 2009

As third-quarter reports roll along, banking, transportation and heavy industry companies have said the worst is behind them. Not so for real-estate investment trusts. Their comments on third-quarter results indicate few are ready to say the worst is over.

Jones Lang LaSalle back in the black

28 October 2009

Jones Lang LaSalle made a net profit of $20m, or 46c a share, during the third quarter of this year but failed to meet analysts’ targets.

US home prices 'steadied'

27 October 2009

Home values in the US kept stabilisng and consumer confidence rose, bolstering the case that an economic recovery is at hand, economists said before reports out today.

El Paso booms as Mexicans flee drug violence

26 October 2009

El Paso, Texas, on the Mexican border, feels like a boomtown these days, as entrepreneurs fleeing drug violence in Ciudad Juárez head across the Rio Grande to open hip clubs and hot restaurants here.

Court ruling rattles New York landlords

23 October 2009

New York's highest court has ruled that owners of one of New York City's largest apartment complexes improperly raised rents on thousands of units removed from the city's rent-regulation program.

CBRE hires JP Morgan bankers for US investment banking push

21 October 2009

CB Richard Ellis has hired three former JP Morgan bankers to expand its UK-based investment banking services into America.

US apartments rents down on job losses

21 October 2009

Apartment rents declined throughout the US West and South in the third quarter as rising unemployment made it harder for landlords to raise their rates.

Fannie, Freddie shares 'worthless' says analyst

20 October 2009

Fannie Mae and Freddie Mac each fell 22%, to the lowest prices since August, after analysts at KBW Inc. said the shares of the government-run mortgage finance companies are probably worthless.

US housing 'probably busier in September'

19 October 2009

Homebuilders and real-estate agents were probably busier in September, and the index of leading indicators increased, adding to evidence the next U.S. expansion has begun, economists said before reports this week.

New York deal puts Church cash at risk

16 October 2009

The Church of England conceded yesterday that its involvement in a controversial New York property deal now on the verge of default has left it at risk of losses that some estimates put at tens of millions of pounds.

FDIC calls for debt restructuring

15 October 2009

Federal bank regulators are close to issuing guidelines that would encourage lenders to rework troubled commercial real-estate loans, a sector of the economy they expect to topple scores of additional financial institutions.

US foreclosure jump 23%

15 October 2009

US foreclosure filings climbed to a record in the third quarter as lenders seized more properties from delinquent borrowers, according to RealtyTrac Inc.

US foreclosures 'set to peak in 2010'

14 October 2009

Foreclosure rates will continue to climb through late next year, peaking only after the U.S. unemployment rate reaches 10.2% in the second quarter, the Mortgage Bankers said.

Fed agency may need bailout

9 October 2009

A year after Fannie Mae and Freddie Mac teetered, industry executives and Washington policy makers are worrying that another government mortgage giant could be the next housing domino.

Home sellers 'cut $28.4bn from proces'

9 October 2009

US home sellers cut their asking prices by a total of $28.4bn to attract buyers as the real estate recovery stalled, Trulia Inc said.

US office vacancies hit five-year high

7 October 2009

US office vacancies rose to a five- year high in the third quarter, as job losses deepened and employers abandoned space in the recession, property research firm Reis Inc said.

Fed anxious over US commercial property debt

7 October 2009

Banks in the US 'are slow' to take losses on their commercial real-estate loans being battered by slumping property values and rental payments, according to a Federal Reserve presentation to banking regulators last month.

MGM Mirage slashes Vegas condo prices

6 October 2009

MGM Mirage is cutting the price of the condos at its $8.5bn City Center development by 30% due to the economic downturn, the company announced.

Hamptons house prices climb

6 October 2009

Home prices in the Hamptons, the oceanside summer getaway for celebrities and Wall Street financiers, climbed 12% in the third quarter from a year earlier on an increase in high-end sales.

HSBC to sell New York HQ for $330m

5 October 2009

HSBC Holdings agreed to sell its New York City headquarters for $330m in cash to a company controlled by Israeli businessman Nochi Dankner.

Tesco sounds out US push

5 October 2009

Tesco has embarked on the first significant advertising campaign for its Fresh & Easy stores as Britain’s biggest retailer fights to make a success of its foray into the US.

Watergate hotel set for sale

2 October 2009

The famed Watergate Hotel in Washington D.C. is under contract to be sold by PB Capital, a unit of the German Deutsche Postbank AG, to a venture led by Holland Development Group for a price that is expected to be in the $40m range, according to people familiar with the transaction.

Landmark Partners Real Estate Brief: September 2009

02 October 2009

"The upsurge in primary commitments from 2001 to 2008 created a base of real estate assets in private funds and partnerships that is unprecedented. A portion of this pool of private investments is currently turning over on the secondary market as investors address their changing portfolio requirements and elect to actively manage their portfolios."

Prologis: US and Canada Property Market Review

02 October 2009

"During the past 18 months, property owners have faced the most challenging economic environment in their lifetimes. The current U.S. recession is now officially the nation’s longest and deepest of the entire post-World War II era. The good news is that the rate of decline moderated during Q2-09, and the U.S. economy appears to be poised for recovery beginning in Q3 or Q4."

US Banks finally yield on mortgages

1 October 2009

Banks and loan investors are starting to bite the bullet and lower the principal due on home mortgages for some struggling borrowers, a new report from bank regulators shows.

Credit Suisse buys in Boston

30 September 2009

In Boston's biggest office deal this year, Credit Suisse Group has acquired Independence Wharf, a waterfront office building, for $106m.

Storeys:SSP and Altus Edwin Hill merger scrapped

29 September 2009

North-East-based property services firm Storeys:SSP has ended talks to be bought by Canadian firm Altus Group, parent of Altus Edwin Hill.

Alberta to spend C$241m on Oil Sands land scheme

28 September 2009

The government of Alberta said today it plans to spend C$241 million ($221 million) in the next five years to develop land for new housing and industrial uses near Fort McMurray, the site of Canada’s oil sands.

Florida developer threatened by golf refund calls

25 September 2009

Bonita Bay Group, once a premier developer of upper-crust golf communities in this upper-crust town, is on the verge of collapse.

Colony Capital ponders REIT as listing route

24 September 2009

Colony Capital, a private equity fund that specialises in real estate investments, is hoping to use a public fund that it is raising as a vehicle for an eventual public listing of its entire operation.

Prime rents fall in more than 50% of retail streets globally

22 September 2009

Prime rents in over half of the world’s most prestigious shopping streets have fallen in the last twelve months as consumer spending and retail sales remain depressed, Cushman & Wakefield has said.

La Salle and US pension scheme set up $205m fund

21 September 2009

LaSalle Investment Management has set up a $205m fund with the Teacher Retirement System of Texas to invest in property in North America and eventually the rest of the world.

US housing starts 'hit 9-month high'

17 September 2009

Builders in the US probably broke ground in August on the most houses in nine months, another sign the industry that precipitated the worst financial crisis since the Great Depression is stabilising, economists said before reports today.

Fed investigates mid-size bank's commercial property exposure

17 September 2009

Federal Reserve supervisors are examining the vulnerability of medium-sized lenders to falling commercial real-estate values to gauge the size of potential losses across the banking system.

Harvard endowment problems prompt protest

16 September 2009

Harvard University has provoked protest and confrontation in a nearby Boston neighbourhood where the school is backing away from plans to build housing and laboratories on land it took years to buy.

Housing credit battles looms

16 September 2009

The $8,000 tax credit for first-time home buyers passed by the US Congress last winter, was intended as a dose of shock therapy during a crisis. Now the question is becoming whether the housing market can function without it.

US commercial property 'in doldrums until 2012'

15 September 2009

The US commercial property market is unlikely to recover before 2012 and office rents in New York and San Francisco may drop 20% through next year, a survey of property investors found.

Seized Madoff homes come to market

11 September 2009

Those interested in a Madoff lair, courtesy of the government, now have three to choose from.

St Louis gets retail boost

9 September 2009

A private U.S. investment group has signed a contract to buy Macy's $35m landmark building in St Louis that has played a storied role in the city's retail history.

US faces interest-only housing trap

9 September 2009

Millions of buyers during the boom leveraged their way into a house they could not otherwise afford by taking out a loan that required them to make only interest payments at first, putting off payments on the principal for several years.

Commercial bank mortgage defaults to top 1992 level

9 September 2009

The default rate on commercial mortgages held by US banks will rise to 5.4% in 2011, the highest since at least 1992, as banks anticipate more losses amid falling rents, according to Real Estate Econometrics.

Tesco presses on with California expansion

8 September 2009

Tesco is continuing to invest in the future growth of its US Fresh & Easy stores, in spite of saying earlier this year that it had put the second stage of its US expansion in northern California on hold.

Pret A Manger eyes US expansion

8 September 2009

Pret A Manger is stepping up its expansion plans in the US, even as the toughest recession in a generation has eroded its like-forlike sales by about 10%.

Tenda pushes on as Brazil recovers

4 September 2009

Construtora Tenda SA, the best performing homebuilding stock this year, plans to boost its sales force and speed up construction work as demand recovers in Brazil, Chief Financial Officer Paulo Mazzali said.

Brookfield turnaround fund attracts extra $1bn

04 September 2009

Brookfield Properties and Brookfield Asset Management, which are part of North American asset management group Brookfield, have raised an additional $1bn of equity to invest in underperforming real estate in the UK and Europe, the US and Australasia

Madoff property up for sale

2 September 2009

The US Marshals Service has put Bernie Madoff’s 3,014 sq ft property just east of the Hamptons on the market this week to help to pay back investors who lost out in his epic fraud. They also plan to enlist brokers to find buyers for a Manhattan apartment and a Palm Beach estate once owned by the financier-turned-felon.

Goldman Sachs sued by NY landlord

28 August 2009

Goldman Sachs has been sued by a Manhattan landlord who alleged the bank violated the terms of its rental agreement by failing to share profits from a sublease of the space.

LaSalle CEO Jeff Jacobson heads to Asia

26 August 2009

LaSalle Investment Management CEO Jeff Jacobson will relocate to LaSalle’s Asia headquarters in Singapore from January next year.

Canada adds retails pace in face of recession

26 August 2009

Canadian developers added retail space at a record pace while the country’s economy went through a recession, spurred on by shoppers and investors such as the Ontario Teachers’ Pension Plan continuing to spend.

CB Richard Ellis Marketview: European Capital Markets Q2 2009

21 August 2009

'The first half of 2009 has been an exceptionally quiet period in terms of the total value of commercial property investments traded in Europe. However, it is possible to take some positives from the trends seen.'

Balfour Beatty in Texas win

25 August 2009

Balfour Beatty has won a £252m roadwork contract in Texas in a joint venture with Fluor, the engineering and project management company. Balfour Beatty’s American division accounts for 30% of revenue.

Grubb & Ellis could be delisted

21 August 2009

US services firm Grubb & Ellis is facing a possible delisting in New York after its market capitalisation was less than $50m for 30 consecutive trading days

US housing suggests market firming up

20 August 2009

US new-home construction and permits fell last month, but single-family-home starts remained strong, another sign of stabilisation in the housing market.

US office prices buck trend

20 August 2009

US office prices rose in the second quarter for the first time since 2007, offering a glimmer of hope for the commercial property market, according to a report yesterday from Moody’s, the ratings agency.

Tishman in default on Washington portfolio

19 August 2009

A partnership led by Tishman Speyer Properties is in default on debt tied to one of the largest office portfolios in the Washington area, the latest in a line of humbling turns for the prominent property developer.

International farmland still fertile in recession

18 August 2009

International farmland values will remain robust throughout the recession, according to a report from Savills.

Fed extends TALF Program for commercial property

18 August 2009

The Federal Reserve extended by three to six months an emergency program aimed at restarting credit markets, a move that may cushion the commercial real- estate industry from rising defaults and falling prices.

Distressed property sales increase across the globe, says RICS

17 August 2009

Distressed property sales have increased in more than 75% of countries, according to new research by the RICS.

US homeowners slashing asking prices

14 August 2009

US homeowners cut their asking prices by $27.8bn with some of the biggest reductions in Nevada and Florida, states hardest hit by the property slump, Trulia said.

Morgan set for $1bn property sales

13 August 2009

JP Morgan Chase is planning to sell 23 office buildings across the US in what may be the US’s largest real estate transaction of the year.

Citigroup renters lending - with Fed aid

12 August 2009

Citigroup Inc. will lend as much as $2bn to independent mortgage firms, hoping to profit in a business it mostly exited after the market seized up in 2007.

US distressed mortgages 'could hit 30%'

11 August 2009

Almost a quarter of US mortgage holders owed more than their homes were worth in the second quarter and that figure may rise to as much as 30% by mid-2010 as job losses and foreclosures climb, Zillow.com said.

Maguire losses riseon write-downs

11 August 2009

Maguire Properties's second-quarter loss widened on write-downs as the developer's revenue was flat.

Condo-hotel buyers go to court

7 August 2009

Buyers from across the USA are going to courts to get their money back, arguing that condo-hotel developers violated securities laws when selling the units.

Hyatt plans $1bn IPO as propery companies raise cash

7 August 2009

Hyatt Hotels plans to raise up to $1.15bn in an initial share sale to bolster its finances and fund acquisitions at a time of scarce credit.

FHA could hit US home buyers

5 August 2009

Taylor, Bean and Whitaker Mortgage Corp’s expulsion from the ranks of Federal Housing Administration lenders may make it harder and more expensive for cash-strapped consumers to finance home purchases.

NY Governor issues WTC ultimatum

4 August 2009

New York Governor David Paterson has given World Trade Center site developer Larry Silverstein an ultimatum in talks over his ground zero lease. He says the site could be redesigned without Silverstein's buildings.

Marriott to grow by grabbing distressed competitors

31 July 2009

Marriott International, the largest U.S. hotel chain, plans to expand by taking over the operation of hotels from competitors unable to pay or refinance debt, chief financial officer Carl Berquist said.

California default rate nears 10%

31 July 2009

About 1 in 10 Californians with a home loan is now in default, and there's growing evidence that the mortgage meltdown is spreading to commercial real estate.

Brookfield down on Canada woes

30 July 2009

Brookfield Properties Corp., owner of 74 million square feet of real estate in North America, said second-quarter earnings excluding items fell on a decline in office and Canadian residential revenue.

US market set for TALF deals

29 July 2009

Commercial property companies may sell about $3bn of mortgage-backed bonds starting in September as part of the government’s program to revive lending for shopping malls, skyscrapers and hotels.

BofA to cut 10% of branches

28 July 2009

Bank of America chief executive Kenneth Lewis told investors last week he is planning to shrink the company's 6,100-branch network by about 10%, a pullback from the two-decade expansion that took the bank from coast to coast.

US new house sales surge by 11%

28 July 2009

New house sales in the US jumped by 11% in June, providing some of the strongest evidence yet that the market has bottomed out after being savaged for three years.

Zell fund eyes Brazil

24 July 2009

Sam Zell’s Equity International is seeking new real estate-related investments in Brazil as record low interest rates accelerate growth in Latin America’s biggest economy.

Former Credit Suisse real estate duo start new business

21 July 2009

David Hodes and Doug Weill, former real estate bankers at Credit Suisse, launched their global advisory and investment company Hodes Weill & Associates today.

Falling dollar attracts Italians to properties in US

21 July 2009

Falling property prices in the US and a weaker dollar are attracting investors from Italy, which has largely escaped the housing bubble collapses other parts of Europe have experienced.

Real estate to hit Morgan Stanley

21 July 2009

Morgan Stanley's exposure to commercial real estate is one of the reasons why analysts expect the New York company to report on Wednesday a net loss of $555m, according to Thomson Reuters. That would be the firm's third quarterly loss in a row.

Hotel seizure shows strains on sector

21 July 2009

The seizure of the St Regis Monarch Beach, where American International Group sponsored a luxury retreat just days after accepting a federal bailout, is the most dramatic sign yet of the deep troubles in the market for high-end hotels.

CBRE and JLL bank on US

17 July 2009

Bank of America is understood to have appointed CB Richard Ellis and Jones Lang LaSalle to advise on its global property portfolio

US foreclosures hit record 1.5m for 1st half

16 July 2009

US foreclosure filings hit a record in the first half, a sign that job losses and falling property prices deepened the housing recession, according to RealtyTrac.

Hamptons home sales dive

15 July 2009

Home sales in the Hamptons, the oceanside summer getaway for Wall Street financiers and celebrities, plunged 58% in the second quarter as the recession sapped demand for second homes.

Taubman mall appeal loss cast doubt over future

13 July 2009

After 15 years and more than $150m invested, Taubman Centers Inc. has been dealt a major setback on its proposed Mall at Oyster Bay on Long Island.

ProLogis lets 405,000 sq ft of shed space in Mexico

10 July 2009

ProLogis has signed two new lease agreements totalling 405,000 sq ft of recently developed distribution space in Mexico.

US property sector 'sounds alarm' on loan squeeze

10 July 2009

Property professionals have urged the US government to expand its efforts to fix the dysfunctional market for commercial building loans, arguing that the persistence of a credit crunch in this sector could lead to a further wave of losses for banks and derail any economic recovery.

Henderson's Think United States Report

10 July 2009

A report looking into the state of the US economy and property market. The report look at tyhe impact of job losses and house price movbement on the market, as well as the changing landscape in terms of property.

Sacyr Jumps 18% After Becoming Panama Canal Front Runner

9 July 2009

Sacyr Vallehermoso SA jumped 18 percent in Madrid trading after the Panama Canal Authority said a group led by the Spanish construction company offered the best plan for a new set of locks for the canal. Sacyr, which is working with Italy’s Impregilo SpA on the project to double the waterway’s capacity, beat competitors with a $3.1 billion bid. Sacyr was trading at 11.60 euros as of 9:40 a.m. local time.

Subprime rears its head

9 July 2009

The US housing market is facing new downward pressure as holders of subprime-mortgage bonds flood the market with foreclosed homes at prices that are much lower than where many banks are willing to sell.

Distressed US commercial property doubles to $108bn

9 July 2009

Commercial properties in the U.S. valued at more than $108bn are now in default, foreclosure or bankruptcy, almost double than at the start of the year, Real Capital Analytics said.

Building company set to admit corruption

9 July 2009

A construction company lavished with government export awards is expected to plead guilty to bribing Ghanaian and Jamaican officials in the long-awaited first prosecution of a British business for overseas corruption.

Vornado Makes a Big Bet on Distressed Properties

8 July 2009

REIT Is Seeking $1 Billion for a Private-Equity Fund That Will Focus on New York and Washington

Apartment Vacancies in U.S. Reach 22-Year High, Reis Reports

8 July 2009

U.S. apartment vacancies rose to their highest in 22 years in the second quarter as job losses cut tenant demand and more units came to market.

Beazer to Pay Up to $53 Million in Fraud Case

2 July 2009

Beazer Homes USA Inc. will pay up to $53m to settle mortgage fraud charges related to federally insured mortgage loans the company made to buyers of its homes.

Manhattan Apartment Prices Drop as Lehman Effect Hits Home

2 July 2009

Manhattan apartment prices dropped for the first time since 2002 in the second quarter as the collapse of Lehman Brothers Holdings Inc. and Bear Stearns Cos. caught up to property owners in the nation’s most expensive urban market.

Freddie Mac Board Said to Consider Haldeman to Head Company

1 July 2009

Charles E. Haldeman Jr. is the leading candidate for chief executive officer of Freddie Mac, the mortgage-finance company seized by U.S. regulators, according to a person familiar with the matter.

Store Rents Fall in World’s Most-Expensive Shopping Streets

30 June 2009

Store rents tumbled in the world’s most expensive locations in the first quarter and will continue to decline through the middle of 2010 as the global recession curbs spending, according to CB Richard Ellis Group Inc.

Sales help Lennar revenue but not losses

26 June 2009

Creative sales strategies helped Lennar Corp blow through unsold inventory and easily beat the Street's revenue estimate, but it wasn't enough to narrow the quarter's loss. The builder also now has fewer homes to sell going forward.

Mortgage bond yields hit three-week low

26 June 2009

Yields on Fannie Mae and Freddie Mac mortgage securities declined to the lowest in more than three weeks, signaling that interest rates on new home loans will fall and ease the U.S. housing slump.

Canadian home prices down for fifth straight month

25 June 2009

Canadian home prices fell on an annual basis for the fifth month in a row in April, the Teranet- National Bank National Composite House Price Index showed.

Manhattan apartment rents drop

25 June 2009

Manhattan apartment rents fell as much as 12.3% in June from a year earlier as unemployment curbed demand for new leases, the Real Estate Group of New York said in a report today.

US house builders swoop on cheap land

24 June 2009

US home builders, long burdened with excess holdings of land, now are shopping for more of it.

US mortgage refinancing prospects bleak

23 June 2009

The Mortgage Bankers Association cut its forecast of home-mortgage lending this year by 27% amid deflating hopes for a boom in refinancing.

California house market shows recovery signs

22 June 2009

A home-sales revival that began last year in some of California's cheaper inland areas has begun to spread to several more expensive coastal areas, another hint that devastated real-estate markets in the state -- and other parts of the country -- may see less grim days ahead.

Westfield pushes for shop floors at World Trade Center

19 June 2009

But Australian developer’s proposal conflicts with Larry Silverstein’s office-led vision

Obama sets out historic reforms

18 June 2009

President Obama has outlined the most comprehensive overhaul of the US financial regulatory framework in 70 years.

US housing starts rebound

17 June 2009

New US housing starts and permits rebounded in May from record lows. Housing starts rose by 17.2% to an annual rate of 532,000 units, up from 454,000 in April. The number of new building permits rose by 4% to 518,000 units.

US mortgage rates pass 5.5%

15 June 2009

Home-mortgage rates took another leap this week, bringing the average rate on a 30-year fixed-rate mortgage to its highest in seven months, Freddie Mac has said.

InterContinental on expansion spree

12 June 2009

InterContinental Hotels Group, owner of the Holiday Inn brand, plans to open 400 hotels this year and may work with developers to convert residential projects that have stalled.

DTZ Rockwood files for chapter 11

12 June 2009

DTZ Rockwood, the New York-based property services firm that was 50% owned by DTZ until last month, has filed for chapter 11 bankruptcy protection from its creditors

Takeover talk surrounds Songbird

12 June 2009

Two hedge fund investors have bought a 30% interest in Songbird Estates, the majority owner of Canary Wharf Group, as speculation mounts that takeover activity is looming

Crescent files for Chapter 11

11 June 2009

Crescent Resources, a 40-year-old real-estate developer owned by Duke Energy Corp. and Morgan Stanley's real-estate fund unit, said it was filing for Chapter 11 bankruptcy protection.

Bondholders face losses as commercial mortgage principals fall due

11 June 2009

Investors in bonds that packaged $62bn of debt for US offices, hotels and shopping malls are bracing for more loan defaults through 2010 as Bank of America Merrill Lynch says landlords’ monthly payments may jump 20 percent or more.

Fontainebleau Las Vegas in Chapter 11

11 June 2009

Fontainebleau Las Vegas, the US casino resort developer, said that it had filed for Chapter 11 bankruptcy protection after failing to get lenders to provide about $800m in construction funding to complete the company’s $2.9bn property on the Las Vegas Strip. The project is 70% complete and had been planning to open in October.

Jones Lang LaSalle to raise $200m to repay debt

10 June 2009

Jones Lang LaSalle today announced plans to offer 5.5m shares in an underwritten public offering.

US housing supply falls

10 June 2009

Hhomes listed for sale declined again in many US cities last month, though supplies are generally plentiful.

US Fed subpoenas Lend Lease on overbilling

10 June 2009

Bovis Lend Lease yesterday confirmed it had received subpoenas from the US Federal Attorney and New York District Attorney regarding allegations of overbilling on the $US700m (A$882m) September 11 Memorial and Museum and other large New York projects.

Appraisals hamper US recovery

9 June 2009

Appraisals are becoming one of the biggest obstacles for Americans trying to sell their homes, refinance their mortgages or tap into home-equity credit lines.

Starwood plans to float new US REIT to buy distressed loans

8 June 2009

Barry Sternlicht, the property and hotel entrepreneur, is planning to float a new REIT in the US to buy distressed commercial and residential debt secured on real estate.

Sunstone REIT forfeits San Diego hotel

8 June 2009

Sunstone Hotel Investors intends to forfeit the 258-room W San Diego to its lenders after its efforts to reach a compromise on the luxury hotel's $65m securitised mortgage failed.

Italians to create REIT in US

5 June 2009

Sorgente Group, the Italian investment company that controls Manhattan’s Flatiron building, plans to set up a real estate investment trust in the U.S. to take advantage of a recovery that may start as soon as 2010.

Fed cools expectations of support for mortgage-backed securities

5 June 2009

The US Federal Reserve yesterday damped expectations that it was preparing to prop up the market for distressed bubble-era securities backed by mortgages.

Lane 4 is still in Kansas

05 June 2009

A partnership led by Kansas City-based developer Lane 4 has bought a retail portfolio in the suburbs of Kansas City, Kansas, for $62.1m from Highwoods Properties

US builders see signs of stability

4 June 2009

Home builders reported encouraging signs of stabilisation in the housing market, but cautioned that foreclosures and rising interest rates cloud the outlook.

Paul Kemsley’s Rock Investment in administration

3 June 2009

Paul Kemsley’s Rock Investment has gone into administration.

Mortgage market intervention supported

3 June 2009

The US government should continue to intervene in the home-mortgage market after the foreclosure crisis ends, real-estate brokers, home builders and mortgage bankers said in testimony prepared for a congressional hearing on Wednesday.

US house sale point to end of free fall

3 June 2009

The US housing market gave another sign yesterday that the free fall could be ending. Figures indicated that pending home sales rose for a third month running in April as record low mortgage rates lured buyers back to the market.

US home foreclosures hit record in first quarter

1 June 2009

California and three other states continued to take an outsize share of the blame for the foreclosure epidemic sweeping the nation.

US bad loan plan stumbles

29 May 2009

A government program designed to rid banks of bad loans, part of a broader effort once viewed as central to tackling the financial crisis, is stalling and may soon be put on hold, according to people familiar with the matter.

CB Richard Ellis Global Market View: Office Occupancy Costs May 2009

29 May 2009

The foundation of the global economy has been tested to a degree not seen since the Great Depression. What began as a US housing crisis quickly became a worldwide financial crisis.

Show of strength from IPD US index

29 May 2009

Investment Property Databank on Wednesday published its first-ever annual commercial real estate index for the US, backed by 10 years of historical data

US commercial mortgage defaults 'to rise'

28 May 2009

US delinquency and default rates for loans sold as commercial mortgage-backed securities probably will continue to increase this year amid rising office, retail and apartment vacancies, research firm Reis said.

US development bigwig gets Olympic Legacy top job

27 May 2009

The London Development Agency has appointed Andrew Altman – Philadelphia’s deputy mayor and a ‘big hitter’ in urban development in the US – as the chief executive of the 2012 Olympics legacy delivery company.

Argentina uses social security fund to boost mortgage market

27 May 2009

Argentine President Cristina Fernandez de Kirchner’s move to ease access to mortgages and combat the possibility of recession for the first time since 2002, increases the country’s dependence on nationalized pension funds to drive economic growth.

Mortgage modification not halting US defaults

26 May 2009

Mortgage-servicing companies are struggling to find the best way to modify mortgages so that borrowers can stay in their homes, according to a Fitch Ratings report expected to be released this week.

Recession empties America's malls

22 May 2009

Malls are dwindling in number, with many struggling properties reduced to largely vacant shells.

REMAX forays into India

21 May 2009

US-based realty brokerage firm REMAX has forayed into India aiming to tap potential offered by middle-class families, with its business in America hit by the ongoing slump in the property market.

Silverstein and officials squabble over WTC site

20 May 2009

New York developer Larry Silverstein appears to have the upper hand as he prepares for yet another high-level negotiation with New York and New Jersey officials on the redevelopment of the World Trade Center site.

Fed adds legacy assets to TARP

20 May 2009

The Federal Reserve will include legacy assets for the first time in a $1tr program to revive credit markets, expanding the effort to commercial real estate securities issued before the start of this year.

DTZ sells 50% stake in US firm Rockwood for ‘nominal amount’

19 May 2009

DTZ has sold its 50% interest in US firm DTZ Rockwood to DTZ Rockwood for a nominal amount.

US local banks battered by commercial property

19 May 2009

Commercial real-estate loans could generate losses of $100bn by the end of next year at more than 900 small and midsize U.S. banks if the economy's woes deepen, according to an analysis by The Wall Street Journal.

Paulson moves to make new killing in property

19 May 2009

The hedge fund tycoon who made billions of dollars from betting against sub-prime mortgages is close to launching a new fund that will make a profit when property prices rebound.

Libel suit gives insight into Trump valuation methods

18 May 2009

How much is Donald Trump really worth?

Obama housing rescue adds aid for 'short sales'

15 May 2009

The Obama administration on Thursday laid out additions to its housing-rescue plan that are designed in part to make it easier for financially troubled homeowners to sell houses that are worth less than their mortgages.

Bad property loans threaten regional US banks

14 May 2009

The slumping market for commercial real estate threatens to drag down regional banks as they struggle to collect on loans made against shopping centres and office buildings.

US Median house price down 14%

13 May 2009

The median price for a single-family house fell 14% to $169,000 in the first quarter from a year earlier, the National Association of Realtors reported.

US foreclosures hit new record

13 May 2009

Foreclosure filings in the US rose to a record for the second consecutive month in April as banks increased efforts to seize homes from delinquent borrowers.

April drop in home listings across US

12 May 2009

The number of homes listed for sale in many U.S. cities continued to fall in April in what some analysts see as a sign that the market may be nearing a bottom. But the picture is clouded by uncertainty over how many foreclosed properties will hit the market.

Goldman pays $60m in subprime settlement

12 May 2009

Goldman Sachs agreed to pay about $60m to settle a Massachusetts investigation into the packaging of mortgage securities at the root of the collapse of the U.S. housing market.

Virtual offices fill a space

11 May 2009

The collapse in US commercial property prices is encouraging entrepreneurs to set up 'virtual' offices at prestigious addresses, renting space by the month, the week or even the hour.

Frasier start takes property hit

8 May 2009

'Frasier' star Kelsey Grammer has sold a Los Angeles house for $3.3m, 19% less than he paid for it in 2007, and leased a seven-bedroom English-style manor after it failed to sell for $18.9m.

Simon Property raises $1bn in new equity

8 May 2009

Simon Property Group Inc., the biggest U.S. shopping mall owner, raised $1 billion in its second stock sale this year after increasing the number of shares to meet investor demand.

US unveils Battersea embassy plan

08 May 2009

The US government has today revealed the first plans for its new embassy on the banks of the Thames in Battersea, south London.

Relief as stress test results come in

7 May 2009

US financial stocks soared yesterday as investors expressed relief that the capital shortfalls identified by the government’s 'stress tests' at large banks such as Citigroup and Bank of America were not as big as some had feared.

Over 20% of US homeowners 'underwater'

6 May 2009

A growing number of U.S. homeowners owe more than their properties are worth after prices extended their two-year decline in the first quarter, Zillow.com said.

Washington sets out tough bail rules

6 May 2009

Federal regulators are moving to impose tough conditions on banks that want to repay bail-out funds, requiring them to prove they can issue debt without a government funding guarantee.

Texas bank wrecks new houses

5 May 2009

Guaranty Bank of Austin is wrecking new houses to provide a 'safe environment' for neighbours of the abandoned housing tract in Victorville, a high-desert city about 85 miles north east of Los Angeles, a bank spokesman said.

Obama to purge offshore tax havens

5 May 2009

Barack Obama has unveiled a sweeping crackdown on offshore tax avoidance by US companies, in a move likely to affect the way Britain taxes profits earned by UK companies operating abroad.

Affleck and Garner spend $17.5m on new home

1 May 2009

Ben Affleck and Jennifer Garner have bought movie producer Brian Grazer's Los Angeles house for roughly $17.5m, according to two people familiar with the deal. That's about 40% less than Grazer's original asking price, $27.5m.

Epic journeys into Ford’s Soho HQ for £21m

01 May 2009

Michael and Steven Elghanayan’s Epic has bought car manufacturer Ford’s former global design headquarters in Soho for £21m

ProLogis puts home up for sale

01 May 2009

ProLogis put its UK headquarters up for sale this week as part of a cost-cutting drive

HSBC towers could fetch 40% less than peak

30 April 2009

HSBC Holdings Plc’s planned sale of its London, New York and Paris offices may bring Europe’s biggest bank about 40% less than the properties would have fetched at the 2007 market peak.

British architects design cancer centre for hurricane-battered New Orleans

29 April 2009

A cancer research centre in New Orleans designed by UK-based architects RMJM New Orleans is now under construction.

British Virgin Isles eases for foreigner restrictions

29 April 2009

The British Virgin Islands, has agreed to ease some restrictions on foreign real-estate buyers.

US house price falls ease

29 April 2009

The rate of decline in US house prices slowed in February and consumer confidence among Americans rose by the greatest amount since 2005 during April, in early signs the economic recession might just be slowly beginning to thaw.

JC Flowers isolated in Hypo row

28 April 2009

JC Flowers & Company has threatened to take the German government to court to salvage as much as he can from a €1.1bn euro, ($1.43bn), investment in a German bank, Hypo Real Estate, that is now effectively insolvent.

Circus legend's house price slashed by for 35%

24 April 2009

The owner of circus entrepreneur James Bailey's 1880s mansion in New York has cut the price to $6.5 million after listing the home in November for $10m - a drop of 35% in less than half a year.

Ground Zero’s 30-year timeframe

24 April 2009

New York’s World Trade Center site could take up to 30 years to develop because of the fall in demand for office space.

Foreclosures prompt bidding wars

23 April 2009

Falling US home prices are starting to ignite bidding wars in a few parts of the U.S. as first-time buyers compete with investors for the same foreclosed properties.

House giant posts profit

22 April 2009

Home-building giant NVR posted a profit for the first three months of 2009, showing resiliency in the face of a foundering housing market.

New Fannie Mae chief

21 April 2009

Fannie Mae has named the company’s chief operating officer to take over as chief executive.

So Cal market hammered

20 April 2009

Layoffs, tight credit and other fallout from the troubled economy have battered Southern California's office market, leading to vacancy rates as high as 30% in some areas.

US foreclosures leap in March

20 April 2009

Completed U.S. foreclosures jumped 44% in March to another record high, according to foreclosure-listing service ForeclosureS.com.

US house building slows

17 April 2009

New US residential building slowed sharply in March after February’s surprise surge, dimming hopes that the property slump might be ending.

Shopping mall giant files for Chapter 11

16 April 2009

Mall owner General Growth Properties Inc. sought bankruptcy protection early Thursday in one of the largest real-estate failures in US history, capping a precarious, months-long effort to juggle the crushing $27bn debt load it shouldered in past acquisition sprees.

US REITs 'ripe for consolidation''

15 April 2009

The economic crisis has created a survival-of-the-fittest environment for US real-estate investment trusts.

US Hotels face uncertain times

14 April 2009

Hotels have been struggling for months and a bad situation is likely to turn worse as a rapidly growing number of hotels — including many high-end and luxury properties — are forced into bankruptcy or foreclosure in coming months.

HSBC looks to sell key offices

14 April 2009

HSBC is looking for buyers for three of its largest offices in London, New York and Paris as part of a global asset sell-off in an effort to secure fresh funding.

Delek sells Canadian apartment block

8 April 2009

Delek Global Real Estate has sold a Canadian apartment building for CAN$36.7m (£20.1m).

Residential landlords see vacancy rise

8 April 2009

The nation's apartment market deteriorated in the first quarter as rising unemployment dashed landlords' hopes that the housing downturn would create a soft landing by bringing former homeowners back as renters.

US Treasury reconsiders toxic sale rules

7 April 2009

The US Treasury Department, has said it may allow a broader group of private investors to purchase toxic securities.

US Congress eyes mortgage reform

6 April 2009

Congress is preparing to take up a comprehensive plan that would fundamentally reform the home mortgage market, starting this year.

US office vacancy hits 15.2%

3 April 2009

Companies, struggling to cut costs, dumped a near-record 25 million square feet of office space in the first quarter, driving vacancy up and rents down, according to data to be released today by Reis Inc.

Colony Capital moots Las Vegas investment

2 April 2009

Colony Capital LLC, a Los Angeles-based real estate firm, is considering a possible investment in the troubled City Center project in Las Vegas, according to people close to Colony and the City Center project.

KPMG sued for $1bn over collapse of subprime lender

2 April 2009

KPMG, the world’s third biggest accounting firm, is being sued for $1bn (£692m) by the liquidators of New Century Financial, the collapsed US sub-prime lender, in the first big case against an auditor to emerge in the global financial crisis.

US cities see no bottom to house prices

1 April 2009

House prices in the US’s 20 largest cities dropped 2.8% in January in another sign that the bottom of the housing market may still be some way off, according to the Case-Shiller index.

Zell eyes Brazil

30 March 2009

Real estate tycoon Sam Zell, trying to restore his stature as an astute investor after his disastrous buyout of Tribune Co, has surfaced as an unlikely player in a controversy in Brazil over affordable housing.

MGM pays $200m in 'sign of good faith'

30 March 2009

Dubai World describes a last-minute US$200m (Dh734.6m) payment by MGM Mirage for the CityCenter project in Las Vegas a 'sign of good faith'.

Surge in US home loan applications

26 March 2009

Applications for US mortgages surged last week as banks lowered borrowing costs after the Federal Reserve’s decision to buy Treasuries pushed interest rates to record lows.

US Home prices rise for first time in 10 months

25 March 2009

The federal government's gauge of home prices rose in January for the first time in 10 months.

First-time buyers boost US house sales

24 March 2009

The sales of existing US homes rebounded from a 12-year low in February as distressed sales brought first-time buyers into the market in search of bargains.

Mall owner pleads with bondholders

23 March 2009

General Growth Properties Inc., struggling to avoid a bankruptcy filing, remained locked in talks Sunday with bondholders it was trying to persuade to accept reduced terms.

California shows signs of life

23 March 2009

California's mortgage crisis hit Mountain House, a master-planned community particularly hard last year, and eventually 90% of mortgage holders here owed more than their homes were worth.

Lennar set to buy back after cashing out at top

20 March 2009

Home builder Lennar Corp., which largely cashed out of one of the nation's biggest land ventures near the top of the market, is close to a deal to pick up some of the pieces at a significant discount.

Grubb & Ellis delays filing on accounts restatement

19 March 2009

Grubb & Ellis Co., a Santa Ana commercial real estate broker, said Tuesday that it would delay filing its annual report as part of a restatement of financial results for 2006, 2007 and most of last year.

US building sector rebounds

18 March 2009

The US residential building sector showed renewed signs of life last month as falling construction costs prompted builders to break ground, offering a glimmer of hope that the real estate slump could be near its bottom.

US builders group split on lobbying

17 March 2009

A fight within the National Association of Home Builders, one of the nation's largest trade groups, is coming to a head, and the outcome could refocus the industry's lobbying efforts at a critical time for the housing market.

Obama 'to use all legal avenues' to block AIG bonuses

17 March 2009

President Barack Obama vowed yesterday to pursue 'every single legal avenue' to block $165m (£117m) in bonus payments by AIG amid mounting anger over the stricken insurance group’s use of federal bail-out funds.

Wells Fargo and HSBC accused of racism

16 March 2009

Wells Fargo Corp. and HSBC Holdings PLC defended their lending practices on Friday after the National Association for the Advancement of Colored People's announcement it was filing lawsuits against the two banks alleging 'systematic, institutionalized racism' in their lending to certain borrowers.

Trump sued over Mexico project

16 March 2009

Donald Trump is being sued by buyers who lost millions of dollars in deposits on a failed hotel-condo in the Mexican border city of Tijuana.

Savills to sell Watergate complex in Washington DC

13 March 2009

US property company BentleyForbes is selling part of Washington DC’s Watergate complex, made famous by the political scandal that led to the resignation of former President Richard Nixon, for around $100m (£72m).

Revival of downtown LA stalled as landowner faces bankruptcy

13 March 2009

The largest private landowner in downtown Los Angeles said it may have to file for bankruptcy protection, the latest sign of how the credit crunch has frozen a multibillion-dollar revitalization of the city's downtown.

Freddie seeks another $31bn capital infusion

12 March 2009

Freddie Mac said yesterday that a $23.9bn fourth-quarter loss would require it to draw down $30.8bn of capital from the US Treasury, but warned that it would face difficulties paying the government back.

State Housing Agencies battered by crunch

11 March 2009

The credit crunch has claimed another group of victims: housing-finance agencies operated by state governments that cater to first-time homeowners.

Tumult besets Trump projects

10 March 2009

With the economy bearing down, Donald Trump's real-estate business has hit new snags that imperil several big projects that bear his name.

New York Times Company scores $225m sale-and-leaseback

9 March 2009

The New York Times Company – publisher of the New York Times and the International Herald Tribune – has sold part of the space it owns and occupies in its New York headquarters to US sale-and-leaseback specialist W.P. Carey & Co for $225m (£162m).

Delinquent mortgages hit new high

6 March 2009

More Americans struggled to pay their mortgage bills in the fourth quarter of 2008. A record 5.4 million U.S. homeowners with a mortgage, or nearly 12%, were either behind on payments or in foreclosure at the end of last year, according to an industry survey.

US House passes mortgage bill

6 March 2009

Legislation letting judges reduce the mortgage payments of borrowers in bankruptcy passed the House of Representatives, overcoming opposition from industry groups and Republicans who say the bill may further destabilize lending.

20% of US mortgages 'underwater'

5 March 2009

Twenty percent of all U.S. residential properties that had a mortgage on them were underwater at the end of December, with mortgage debt greater than what the homes were worth, according to a report released Wednesday by First American CoreLogic.

London still top ranked centre

5 March 2009

All the world’s largest financial centres took a beating in the public’s estimation as the markets melted down this autumn and winter but London and New York have proved more resilient than their near rivals and remain at the top of the competitiveness rankings published by the City of London.

Commercial renters start credit-checking landlords

4 March 2009

Prospective tenants are asking for financial statements from landlords, hoping to avoid companies that might default on their mortgages and leave tenants at risk of losing the space. Tenants are also more wary of subleasing space, and are tending to flock to buildings with stable owners.

US housing plan to be revealed

4 March 2009

The US Treasury will today unveil details of President Barack Obama’s $275bn (€219bn, £196bn) plan to help financially stretched homeowners avoid foreclosure, seen as an essential piece of the administration’s economic recovery efforts.

Best Buy delays UK debut

4 March 2009

Best Buy, the US electricals group, has pushed back its assault on the UK as it grapples with troubles in its own backyard.

'Bad Bank' plan details emerge

3 March 2009

The Obama administration is considering creating multiple investment funds to purchase the bad loans and other distressed assets that lie at the heart of the financial crisis, according to people familiar with the matter.

Freddie Mac chief quits

3 March 2009

David Moffett, chief executive of Freddie Mac, has resigned just six months after taking the helm of the US mortgage financier as it was put under government supervision.

US REITs look to raise capital

2 March 2009

US REITs are preparing to grit their teeth and issue stock.

London office rents fall twice as fast as New York

2 March 2009

Office rents in London are plunging at twice the rate of those in New York according to NB Real Estate.

US mortgage tax relief under fire

27 February 2009

President Obama's budget takes on what has long been considered a sacred cow by trying to reduce the mortgage-interest tax deduction for top earners.

Fight looms over foreclosure move

26 February 2009

Congress is readying legislation designed to step up government efforts to stem the rise of home foreclosures. But a fight looms over a provision sought by President Obama that would give bankruptcy judges new authority to reduce mortgage debts.

Cost favour buyers over renters as prices drop

25 February 2009

The relative cost of owning versus renting is swinging back in favour of homeownership in some U.S. markets, buoyed by several quarters of sharp declines in home prices.

Critics warn on Obama housing plan

24 February 2009

The Obama administration is trying to ensure its $275bn housing-relief program will help only genuinely needy homeowners, but some critics say that it will also aid those who don't need -- or deserve -- the help.

Balfour Beatty in US buy

24 February 2009

The building group has bought RT Dooley, a construction company, for about $40m (£27.4m). Customers of Dooley, which is based in North Carolina, include Bank of America and Duke Energy, the gas and electricity group.

Emaar shares slump 10% on US woes

23 February 2009

Emaar, the Gulf’s largest listed property developer, lost almost 10% of its market value as investors reacted to the news that its US unit, John Laing Homes, is seeking Chapter 11 bankruptcy protection.

Obama housing plan set to pressure lenders

17 February 2009

President Obama’s plan to reduce the flood of home foreclosures will include a mix of government inducements and new pressure on lenders to reduce monthly payments for borrowers at risk of losing their houses, according to people knowledgeable about the administration’s thinking.

Obama seeks to aid 'underwater' mortgages

16 February 2009

The Obama administration is looking for ways to let 'underwater' homeowners refinance their mortgages, one of a series of ideas being hashed out ahead of an expected announcement next week, according to a person familiar with the planning.

Foreclosures down as lenders wait on Obama

13 February 2009

Even though more Americans are falling behind on mortgage payments, the torrent of home foreclosures is slowing as lenders await a U.S. government plan aimed at keeping troubled borrowers in their homes.

Cheap house prices lure Chinese to the US

13 February 2009

A growing number of mainlanders are heading to the United States looking not for designer clothes or jewellery, but for a US$1m home in New York City or Los Angeles.

Constructions groups slam Obama labour order

12 February 2009

Two of the biggest construction industry trade groups are denouncing a move by President Obama that they say could limit the number of workers hired on new federal jobs to build roads, bridges and buildings, at a time when construction employment is plummeting.

Congress reaches $789bn stimulus deal

12 February 2009

House and Senate leaders on Wednesday struck a deal on a $789bn economic stimulus bill after little more than 24 hours of rapid-fire negotiations with the Obama administration, clearing the way for final Congressional action later this week.

DC foreclosure protests hint at wider movement

11 February 2009

Dozens of demonstrators with the community group ACORN barged into a Washington DC office that auctions foreclosed homes in upscale Chevy Chase yesterday and shut it down for an hour, chanting 'No sales here.'

ProLogis to scale back

11 February 2009

ProLogis, which launched a risky expansion drive under former chief executive Jeffrey Schwartz, ran into trouble in the fall as a big development pipeline and billions of dollars in debt left it exposed to the global downturn.

$2,000bn US plan rattles Wall Street

11 February 2009

US shares tumbled yesterday as investors gave an initial thumbs down to plans by the Obama administration to deploy up to $2,000bn (£1,380bn) to clean up toxic assets in the financial system and restart credit markets.

Beazer Homes USA cuts 1Q loss, sheds 300 jobs

10 February 2009

Beazer Homes USA Inc. posted a smaller loss for its fiscal first quarter, but revenue dropped sharply as home closings and new orders each plunged by more than half and the homebuilder slashed 300 jobs.

Stock of US homes for sale falls

10 February 2009

The number of homes listed for sale declined in many metropolitan areas in January, a month when the supply normally increases.

Some US home prices 'to bottom out this year'

9 February 2009

House prices in much of the US will bottom out in this year's fourth quarter, Moody's Economy.com says in a new report.

US Real estate hopes boosted by tax credit

9 February 2009

A proposed tax credit for home purchases is raising the hopes of the real-estate industry, which believes the credit could be just the stimulus needed to stabilize the housing market and get hesitant buyers to take the plunge.

Mortgage plan bogged down

6 February 2009

While senior Obama administration officials are finalizing the central elements of their rescue plan for the banking system, they are not as far along in working through the daunting details of how to spend as much as $100bn to help homeowners facing foreclosure, two sources close to the discussions said yesterday.

Condo king Corus ponders sale

5 February 2009

The bank that funded a big part of the condominium boom is considering selling all or part of itself as rising defaults force it to seek capital.

Million-dollar-plus California homes sale plunge

4 February 2009

Scarce financing for so-called jumbo loans and plunging property values have frozen the market for million-dollar homes, a real estate research firm reported Tuesday.

Westbrook offers to let investors shrink commitments

4 February 2009

In a move that will provide relief to some cash-strapped institutional investors, real-estate private-equity giant Westbrook Partners is letting its investors shrink forward commitments by 10%.

US house market still sick despite uptick

4 February 2009

A yardstick for the US housing market has ticked up by surprise, yet economists aren't ready to call a bottom for the sector.

US remortgagees still running into problems

3 February 2009

Many homeowners who have been given a break on their troubled mortgages quickly end up in trouble again, a growing problem that is bedeviling efforts to stem rising foreclosure rates.

LA's Westside finally feels the chill

2 February 2009

The Southern California real estate crash has finally reached the high-end areas of the Westside.

Republicans urges tax cuts for homeowners in Obama rescue plan

2 February 2009

Senior Republican senators yesterday called for additional tax cuts and other big changes in the $884bn (£610bn) economic stimulus package proposed by the Obama administration.

US house sales hit record low

30 January 2009

New-home sales plummeted last year as builders struggled to unload a glut of houses, and the sales rate hit a record low, according to government data released yesterday.

IPD appoints two new regional directors

29 January 2009

Jani Venter has been appointed director of IPD’s US office while Goran Ujdur is now director within its Australian and New Zealand arm.

Washington property owners face refinancing predicament

29 January 2009

A third of the loans used to finance Washington area commercial buildings and then sold to Wall Street are coming due in the next five years, leaving investors scrambling to find.

Starbucks set to close more stores

29 January 2009

Starbucks is to close more stores, sell a newly delivered $45m corporate jet, and cut headquarters staff and worker benefits as it battles a slump in sales that has tracked the broader collapse in global discretionary spending.

Fed uses mortgage power to stem foreclosures

28 January 2009

With its bailouts of Bear Stearns and American International Group, the Federal Reserve took a vast portfolio of mortgages onto its books. Now, it is trying to use its control of billions of dollars worth of home loans to help prevent foreclosures.

US Home Price Index fell again in November

28 January 2009

Battered home values in 20 of America’s biggest metropolitan areas fell even farther in November, according to a widely watched measure of housing prices released Tuesday.

Approval for Cuba resort

27 January 2009

The British leisure company has won final planning consent to develop Cuba’s first residential golf and country club, a 170- hectare resort. It is also planning a second resort at Rancho Luna, in the south of the island.

US home sales get December fillip

27 January 2009

Sales of existing homes posted an unexpected increase last month, closing out the worst year for the real estate market in more than a decade.

Freddie to seek more US funds

26 January 2009

Freddie Mac disclosed yesterday that it would ask for up to $35 billion in additional taxpayer dollars, eating up roughly half of the funds the government has pledged to keep the mortgage giant on firm financial footing.

US house building tumbles 33% to record low

23 January 2009

New residential building in the US hit a record low last year, said government data published yesterday.

A dire year is predicted for US in credit squeeze

22 January 2009

The US property industry is heading for a dire year, with rising vacant space, increasing default rates on loans and further falls in prices, industry analysts warn.

Circuit City collapse could drive down rents

21 January 2009

The collapse of electronics retailer Circuit City could drive down shopping and strip mall rents, and deal another blow to commercial mortgage-backed securities' investors who have already seen their bond prices slide.

Tensions at Freddie and Fannie

20 January 2009

Four months after the U.S. government takeover of home-mortgage giants Fannie Mae and Freddie Mac, their chief executives and regulators again find themselves with conflicting goals.

John Laing Homes reviewing funding option

19 January 2009

One of the largest privately held U.S. homebuilders said Sunday it is looking at all options to meet its funding needs and has reportedly shed jobs companywide to cope with the economic slump.

Wall Street layoffs batter landlords

16 January 2009

Wall Street's employment tsunami, most recently swamping Citibank Inc, is also undermining the island of Manhattan's 443 million square foot office market, threatening to drag rents down 35 percent from a second quarter 2008 high.

JP Morgan chief slams mortgage modification plan

16 January 2009

Jamie Dimon, JPMorgan Chase’s chief executive, yesterday attacked a proposed law to allow US judges to modify mortgages, saying it would have a 'chilling effect' on consumer lending and lead to an increase in personal bankruptcies.

Obama urged to buy problem mortgages

16 January 2009

The Obama administration should buy problem mortgages from investors at a discount to facilitate the restructuring of these loans, Barney Frank, the chairman of the House financial services committee, has told the Financial Times.

JPMorgan chief warns of bad 2009 for US

15 January 2009

The US financial and economic crisis will worsen this year as hard-hit consumers default on credit cards and other loans, Jamie Dimon, chief executive of JPMorgan Chase, has predicted in an interview with the Financial Times.

Financial crisis hits regional home loan banks

14 January 2009

The Federal Home Loan Bank of Seattle said it expects to fall short of one of its capital requirements because of a continuing drop in the value of certain mortgage-backed securities.

Manhattan store closures expected to rise

14 January 2009

Real estate brokers in New York say they expect store closings in the city to rise this year. But, they say, the market for retail space in Manhattan should still fare better than the national market as a whole, especially compared with the suburban shopping malls.

Judges welcome proposed mortgage powers

12 January 2009

Federal bankruptcy judges say they are eager to have the power to restructure mortgages for struggling debtors because it could save hundreds of thousands of homeowners from foreclosure.

Rogers and Palumbo join US Embassy design panel

9 January 2009

British architect Lord Richard Rogers and property developer and patron of the arts Baron Peter Palumbo have joined a host of other high-profile names as a design ‘jury’ to choose how the new US Embassy in Battersea will look.

US lenders overwhelmed by remortgage demand

9 January 2009

Borrowers are rushing to refinance their mortgages at record low interest rates but face unexpected delays as swamped lenders struggle to cope with the surge at a time when layoffs have sharply cut staffing.

White House 'valued at $US308m'

9 January 2009

The White House is valued at more than $US308 million dollars, making it the most expensive residence in the United States, a real estate research firm said Thursday.

Consortium buys out IndyMac

09 January 2009

IndyMac Federal Bank has been bought by a group of private equity investors for $13.9bn (£9.5bn).

US commercial property feels mortgage pinch

8 January 2009

Delinquencies on mortgages for hotels, shopping malls and office buildings were sharply higher in the fourth quarter, as the weaker economy hit landlords and threatens to cause losses for investors in the $3.4 trillion market.

Paulson urges Fannie And Freddie restructure

8 January 2009

In his final speech scheduled as Treasury secretary, Henry M. Paulson Jr. yesterday proposed replacing mortgage-finance companies Fannie Mae and Freddie Mac with highly regulated utilities that would play a more limited role in making money available for home loans.

US home sales plunge to 7-year low

7 January 2009

Pending sales of existing U.S. homes dropped to a seven-year low in November, data showed on Tuesday, as rising job losses and a deepening economic recession kept potential house buyers on the sidelines.

Manhattan office rents slide further

6 January 2009

Manhattan office rents slid during the fourth quarter of 2008, as companies exerted more caution in the wake of the collapse of Lehman Brothers.

US lawmakers push new mortgage bankrupcy bill

6 January 2009

Legislation designed to stem foreclosures by allowing bankruptcy judges to erase some mortgage debt will be introduced by Congressional Democrats on Tuesday, and hopes are high that it will pass after a similar plan failed last year.

US rates for large mortgages jump

5 January 2009

Borrowers looking to take advantage of record-low interest rates may be out of luck if they need a home loan that exceeds $625,500.

Fannie in talks for force mortgage buyback

2 January 2009

Fannie Mae is in talks with the Federal Deposit Insurance Corp and IndyMac Bank to force the failed lender to buy back certain mortgages.

Manhattan offices a renters' market

31 December 2008

Even to industry veterans who have lived through other downturns, the precipitous decline in the Manhattan office market, especially in Midtown, has been startling.

Fed presses on with mortgage bond purchase plan

31 December 2008

The Federal Reserve pushed ahead with its plan to buy mortgage bonds issued by Fannie Mae and Freddie Mac yesterday, saying it would start buying early next month and purchase up to $500bn (£345bn) by the end of June.

Simon Property settles claim over US mall gift card scheme

30 December 2008

The owner of the Crystal Mall in Waterford, Connecticutt has agreed to pay nearly $309,000 to settle alleged violations of the state's gift-card laws, state Attorney General Richard Blumenthal said.

Recession and tight credit deepen housing woes

29 December 2008

A deepening recession and tight credit conditions are compounding problems in the housing market, suggesting that declines in home prices may continue well into 2009.

US home sales dips despite price falls

24 December 2008

The pace of sales of existing homes in the US slowed by 8.6% last month, as buyers retreated from the market in spite of falling prices.

Brazilian growth set to accelerate

23 December 2008

The country’s central bank said that economic growth this year should be faster than expected, adjusting its estimate of GDP growth to 5.6%, from 5%.

US commercial property sector seeks Washington aid

23 December 2008

America’s commercial property industry got out the begging bowl yesterday as the credit crisis tightened its grip on the world’s biggest economy.

Policymakers ponder Freddie and Fannie rejig

22 December 2008

Policymakers are looking to revamp the nation's home loan system next year after the collapse of U.S. housing and mortgage markets spurred the current economic crisis.

US 30-year mortgage rates hit record low

19 December 2008

Interest rates on 30-year fixed rate mortgages dipped to their lowest level in at least 37 years after the Federal Reserve this week reaffirmed its commitment to a program designed to loosen consumer lending, according to a closely watched weekly survey released yesterday.

Savills’ 2008 results 20% lower than expected

19 December 2008

Savills warned this week its profits for this year will be ‘significantly below’ analysts’ forecasts

Borrowers rushing to refinance loans as rates drop

18 December 2008

Homeowners around the country are scrambling to refinance their mortgages at the lowest rates since the early 1960s as the economy staggers through what's likely to be the worst recession in decades.

At least $107bn of US property 'in distress'

17 December 2008

A New York research company, Real Capital Analytics, has compiled data showing that at least $107bn worth of income-producing property — including hotels, offices, apartment complexes and warehouses — is already in distress or is headed in that direction.

US Fed slashes rates to historic low

17 December 2008

The US Federal Reserve moved deeper into uncharted waters yesterday, heralding further dramatic and unconventional measures to support the economy as it slashed interest rates from 1% to virtually zero.

US home builder sentiment stuck at record low

16 December 2008

US home builder sentiment held steady in December but remained at a record low as deepening economic turmoil, a deteriorating job market, and a flow of foreclosed homes on to the market continued to hurt sales conditions, an industry group said on Monday.

Obama appoints NY housing chief to run Federal housing body

15 December 2008

President-elect Barack Obama has picked New York City housing commissioner Shaun Donovan to be secretary of housing and urban development, a post that Obama said would play a lead role in his administration's efforts to stem the rising tide of foreclosures and rebuild the nation's efforts to expand homeownership.

US policy makers ponder more house market aid

15 December 2008

An intensified effort to exploit government control of Fannie Mae and Freddie Mac to drive down US mortgage costs and cushion a decline in house prices could start soon.

$500m ProLogis loan note offer

12 December 2008

Global logistics developer ProLogis has launched a tender offer to buy $500m (£334m) back of its loan notes at 70% of their nominal value.

Ratings agency Fitch lowers US REITs from stable to negative

11 December 2008

Ratings agency Fitch has lowered its 2009 outlook for some sectors of the US REIT market from stable to negative as property companies battle with recession, softening property fundamentals and weakened liquidity.

US Treasury 'should keep banks accountable'

11 December 2008

The US Treasury should scrutinise banks receiving public capital more closely to ensure the money is being used to support the economy and not hoarded, a watchdog said yesterday.

Office vacancy spreads beyond Manhattan

10 December 2008

The aftershock of the financial earthquake that hit Wall Street late in the summer is rattling two major suburban markets north of Manhattan. As elsewhere, office vacancy rates have been climbing in Westchester County, N.Y., and Fairfield County, Conn., which sit side by side.

Fannie and Freddie chiefs accused over warnings

10 December 2008

US legislators lashed out yesterday at former chief executives of Fannie Mae and Freddie Mac, the collapsed mortgage financiers, saying they took risks despite warnings and made 'reckless bets'.

Mortgage woes hit record levels

8 December 2008

Despite government and industry efforts, the number of homeowners falling behind on their mortgages or already in foreclosure climbed during the third quarter and is poised to accelerate as the country's recession deepens, according to industry data released yesterday.

Mubadala buys into US property firm

5 December 2008

Mubadala Development Company, the Government-controlled fund, has acquired 24.9% of the US property company John Buck, officials said on Thursday. The amount paid was “below US$50 million” (Dh183.7m) according to a source close to the company.

Citicourt secures funding for UK investment drive

5 December 2008

Citicourt Investment Partners has secured funding from investors in New York and the Middle East for a UK investment drive.

The death of old glory- America’s pension funds retire from property

Global December 2008

America’s pension funds were among property’s biggest investors, but the ‘denominator effect’ has stopped them in their tracks

US plan to push down new home laon rates

4 December 2008

The US Treasury is working on a new plan to help revive the ailing housing market by reducing mortgage rates on new home loans, according to people briefed on the situation.

Beazer 4Q loss grow as revenue dives

3 December 2008

Homebuilder Beazer Homes USA Inc. gave Wall Street a double-shot of discouraging news Tuesday: Its fiscal fourth-quarter loss more than tripled from a year ago and it expects to lose money throughout 2009.

Mortgage securities set for overhaul

3 December 2008

Financial institutions are set to overhaul standards for mortgage securities to give investors, servicers and rating agencies greater certainty over credit quality and how home loans can be changed when borrowers fall behind on payments.

REITs pounded as markets dive

2 December 2008

REIT stocks lost nearly one-fifth of their value in one of the worst trading days ever for real estate companies.

Mall owner gets debt breather

1 December 2008

Debt-laden mall owner General Growth Properties Inc. won a two-week extension of its deadline to pay a $900m debt, avoiding for the time being what would be one of the largest real-estate bankruptcies in recent U.S. history.

London’s West End is most expensive office location in the world

28 November 2008

London’s West End and Moscow remain the world’s two most expensive office markets, respectively, while Hong Kong’s CBD, Tokyo’s Inner Central District and Mumbai’s Nariman Point make the top five, according to CB Richard Ellis’s latest office rent research.

Care home operators struggling

26 November 2008

The credit crisis is battering the two largest publicly traded operators of housing for the elderly. One of them, Sunrise Senior Living, is trying to stave off bankruptcy. The other, Brookdale Senior Living, is considered likely to resolve its short-term problems, but it faces a mountain of debt in the next few years.

US house price slide continues

26 November 2008

The latest S&P/Case-Shiller index showed that US house prices fell at a record annual rate of 17.4% during September.

US house prices in 40-year record fall

25 November 2008

The price of previously owned homes in the US fell in October by the biggest amount in at least 40 years and the volume of sales also dropped, in a sign of the still mounting problems in the housing market.

US launches Citi rescue plan

24 November 2008

Federal regulators approved a radical plan to stabilize Citigroup in an arrangement in which the government could soak up billions of dollars in losses at the struggling bank, the government announced late Sunday night.

MAPIC: Flagship stores should pay more rent for promotional opportunity

20 November 2008

Retailers with flagship stores on the world’s leading shopping streets are benefitting from a brand awareness vehicle stronger than traditional advertising.

Mapic: Global retail rents soar, but Bond Street falters

19 November 2008

Retail rents in the world’s leading shopping streets continue to grow despite the global economic downturn, according to Cushman & Wakefield’s latest Main Streets Across the World report launched at MAPIC.

Starwood to target UK for W hotel expansion

18 November 2008

Global hotels group Starwood Hotels & Resort plans to open up to 10 W hotels in the UK, including up to five in London within 10 years.

Las Vegas Sands’ $2bn throw of dice

14 November 2008

Casino operator averts collapse with development halt and fundraising

ProLogis chief Schwartz resigns

12 November 2008

Jeff Schwartz, the chief executive and chairman of the world’s biggest logistics property company, ProLogis, has resigned from both positions as the company halts devlopment.

US and European institutional investors still growing property allocations

28 October 2008

Institutional investors in Europe and the US are increasing their allocation to property, according to private equity company JE Robert Companies.

Cushman & Wakefield to cut 200 jobs

23 October 2008

Cushman & Wakefield is to slash 200 jobs in the US, as it faces a worsening economic climate.

American Embassy goes on sale

23 October 2008

The American Embassy building in Grosvenor Square, Mayfair has officially gone to market.

US Senate backs new bail-out bill

2 October 2008

The Senate has approved a new version of a $700bn (£380bn) rescue plan for the US financial system.

Manhattan transfers

International supplement 2006 Eng

At least two big US chains will be opening high-profile London stores next year. Sean McAllister reports from New York on cutting edge retail strategies we might soon be seeing

It’s a small world

04 March 2005

The challenge of globalisation for Europe’s cities will be the focus at next week’s Global Cities conference in the south of France.