Xinyuan Real Estate Co., Ltd. (NYSE: XIN), a residential real estate developer with a focus on high growth strategic cities in China, announced in Beijing that its U.S. development arm, XIN Development Group International Inc., has acquired a 92,000-square-foot condominium development site at Kent Avenue and South 8th Street in the trendy Williamsburg neighborhood of Brooklyn, NY for $54.2 million.
Jorge Luis Borges, one of Argentina's most famous writers, memorably said that "reality is not always probable, or likely." For an interesting example of how improbable the reality of real estate markets can be, one needs look no further than Palermo Nuevo, a small residential area in Buenos Aires.
According to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 26, mortgage applications decreased 4.8 percent from one week earlier. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.8 percent on a seasonally adjusted basis from one week earlier.
Buoyed by strong hotel and vacation ownership revenue, Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) reported net income $170 million and $0.87 per share in the third quarter of 2012, a 4.2 percent increase from the previous year's quarterly net income.
On Tuesday, Government Properties Income Trust (NYSE:GOV) managed by REIT Management & Research, LLC, a private company that manages public REITs, announced its financial results for the third quarter and the nine months ending September 30, 2012.
Due to demand driven by Chile's continuing economic growth and high levels of Foreign Direct Investment, over the next 18 months Santiago will reportedly add approximately 658,000 square meters of Class A and AB office space to the commercial market, the second largest projected office stock addition in all of Latin America.
Starwood Hotels & Resorts Worldwide, Inc., Trinity Investments, LLC and Terra Investments S.R.L.C.V. recently announced the debut of the first Le Méridien Hotel in Mexico City with the opening of Le Méridien Mexico City.
This past July, the Chicago-based Brennan Investment Group and London-based Gatehouse Bank, plc, acquired a $155 million portfolio of industrial properties across 12 states. This transaction was one of roughly 10 industrial portfolios purchased in third quarter 2012, as noted in Real Capital Analytics' third quarter 2012 industrial report. At the time of the purchase, this 20-property portfolio was 100% leased to 12 tenants.
Luxury shared ownership resort-style real estate projects have stopped their bleeding. After three consecutive years of sharp sales declines, the luxury shared ownership industry - represented by high-end fractional real estate developments, private residence clubs and destination clubs - saw overall sales climb to $552 million last year, a 4.2 percent increase from the previous year's $530 million in sales.
According to a new report on tall residential and mixed-use towers in London recently released by Knight Frank, EC Harris and Barton Willmore shows how a new wave of residential towers are set to re-define London's skyline.
Under growing pressure from residents who can't afford home purchases, the Hong Kong government has finally moved to avoid a price-bubble crash by imposing a 15% tax on home purchases made by foreigners.
(Dubai, UAE) -- During a recent awards ceremony held in Dubai, Cityscape Global awarded two Jerde designed projects top honors at the formal event held at the Armani Hotel in the base of the Burj Khalifa tower.
According to Jones Lang LaSalle's Global Law Firm Perspectives 2012, strong economic growth in emerging markets is driving law firm office expansions across the Asia Pacific and Africa regions.
Real estate, and especially commercial real estate, is beginning to play a strong role in the economic recovery of Greece, according to brokers, bankers and consultants in Athens and London. One big reason is the coalition government led by conservative Prime Minister Antonis Samaras that came to power in June has impressed some investors. Samaras promised to do everything needed to keep bailout funds flowing, easing fears of bankruptcy and leaving the Euro zone.
According to CoreLogic, the potential exposure to residential property damage from hurricane-driven storm-surge flooding as Hurricane Sandy makes its way toward the U.S. Atlantic Coast is significant.
(Miami, FL) -- The winning streak continued for Miami's housing market during the month of September. According to new numbers released today by the Miami Association of Realtors, the total number of listings, including single-family homes and condominiums, that pended in Miami-Dade County during the month of September increased 40 percent, from 2,524 to 3,534, year-over-year and 14.5 percent compared to the previous month.
Award-winning architects Dana Fry and Jason Straka are designing a new golf course at PGA of Italy National Resort and Spa. The new championship course, which is being designed under the auspices of well-known golf course architectural firm Hurdzan-Fry Environmental Golf, is near the town of Aulla in Tuscany.
Q1 - If my house is completely outdated, but I want to move to a condo- do I sell my home for a lower price, or try to do some quick updates to add some value? A - For the most part, properties that don't need a lot of work are in demand, but bringing them up to today's standards can be costly.
Germany's second largest commercial real estate fund manager, Union Investment GmbH, announced it has started a $655 million (500 million euros) fund to buy offices, shops and hotels. One euro is $1.30 U.S. The UniInstitutional German Real Estate said the fund is aimed at institutional investors.
MGM Resorts International (NYSE: MGM) recently announced that MGM China Holdings Limited, a 51%-owned subsidiary, has formally accepted a Land Concession Contract in the form of a lease granted by the Macau Government to develop a five-star luxury resort and casino in Cotai.