Alex Finkelstein, Senior Real Estate Reporter
*Former Real Estate and Legal News Editor, Orlando Business Journal (1987 to 2000).
*Former Real Estate Editor, South Florida (Miami) Business Journal (1981 to 1986).
*Former Real Estate Editor, Miami Daily Review (1986 to 1987).
*Former Real Estate Editor, Pittsburgh Business Journal (1980 to 1981).
*Former Assistant Business News Editor, Daytona Beach, FL News-Journal (1979 to 1980).
*Former Investigative Reporter, Miami Herald (1955 to 1960).
*Former Copy and Page Makeup Editor, Washington, DC Star (1960 to 1973).
*Former Regional Retail Advertising Manager, Orlando, FL Sentinel (1973 to 1979).
*Former Southeast Bureau Chief and Co-Editor, Debt & Equity Newsletter, GlobeSt.com. (2000 to 2007).
*Former General News Reporter, Winnipeg (Canada) Free Press (1953 to 1955).
*Former Radio Desk News Reporter, British United Press, Montreal and Ottawa (1952 to 1953).
Current publisher, DONE DEALS, daily real estate blog.
Macquarie Group Ltd. (MQG), Australia's biggest investment bank. Macquarie has beaten the real estate investment herd by launching a record initial public offering in Mexico totaling 16.1 billion pesos ($1.2 billion USD). More than $370 million has been sold in Mexico and more than $775 million has been sold internationally, according to Fox Business News.
Cleveland, OH-based Forest City Enterprises has completed new financing for its 76-story, 898-unit luxury condominium community in Lower Manhattan, NY. The developer says the transaction is valued at $1.05 billion. The deal makes New York City-based TIAA-CREF a 49 percent equity owner of the Frank Gehry-designed property at 8 Spruce Street.
Cash-loaded Chinese are flooding California's high-end home markets and U.S. brokers are in heaven over that situation. Many of the deals are reported to be all-cash transactions. Statistics are all over the place but the California Association of Realtors (CAR) is reporting in its latest research that Chinese buyers make up 39.1 percent of the international buyers of California homes today.
Better than expected economic growth is fueling a rise in house prices and stronger property demand in Israel these days. Despite daily fears of violence and security threats from area militia groups, the real estate markets in the 8,500-square-mile Middle East country are prospering, according to various media and analyst reports.
It's a deal that will make Frankfurt-based Patrizia Immobilien AG (FRA: P1Z) one of the biggest commercial real estate operators in Europe. The German company has contracted to buy Tamar Capital Group, a London-based real estate investment and asset management company.
After four years of sitting on the sidelines, Japanese billionaire Akira Mori announced his Tokyo-based Mori Trust Co. plans to start buying up to 100 billion yen ($1.2 billion) in properties in Tokyo, New York and London. Mori Trust Co. is Japan's most profitable closely held development firm.
Turkey real estate sales dropped by 2.35% in the third quarter compared to the previous period, but the news wasn't all that bad. When compared with results of the same period last year, general sales have experienced a growth of 1.76%. Averaging the last four quarters, a 6.76% increase was seen in sales in general.
Quatari Diar and Canary Wharf Group Plc, whose London history dates to the 1500s, are joint-venturing a $1.6 billion (one billion British pounds) redevelopment of London's South Bank area where the noted Shell Center Tower will continue to be the centerpiece of the 880,000-square-foot undertaking. Completion is tentatively scheduled for 2019.
Moscow - a hot commercial real estate market? Who would have thought it? But yes, Cushman & Wakefield research states that is a fact. Another research report from New York City-based Real Capital Analytics shows Moscow remains the third largest investment market in Europe, following London and Paris.
New York City-based Thor Urbana Capital sees nothing but gold ahead in Mexican real estate. The developer announced it will invest at least half a billion dollars developing and redeveloping real estate across Mexico.
Talk about innovative niches. Slowed by the government's 2010 extra tax on residential sales, investors in Hong Kong real estate have found a new and more profitable product: The sale of parking spots in both residential, commercial and industrial markets.
Even Alfred Hitchcock couldn't concoct the scenario that has been enveloping the exclusive 216-acre Fisher Island in South Florida for the past four years. The scenario began immediately after the mysterious death of Arkadi "Badri" Patarkatsishvili on Feb. 14, 2008.
Singapore, that mystical island country-city combination off the southern tip of the Malay Peninsula in southeast asia, once again is winning headlines. This time as the preferred permanent residence location by the world's rich and famous whose business and social lives are made up mostly of travel to and from countries other than Singapore.
The biggest residential real estate deal in the U.S. in five years is expected to go down early in 2013. That is when Chicago entrepreneur Sam Zell's Equity Residential and Avalon Bay Communities CEO Timothy J. Naughton sign off on a deal valued at $16 billion with Archstone of Englewood, CO.
It was like the good old days at Miami City Hall recently. Finger-jabbing, near-insane shrieking and rough corridor jostling. That was the public hearing scene Monday, Dec. 10, as lawyers and architects for Malaysian casino operator Genting Group beat back a high-powered thrust by the influential Dade Heritage Trust to save the 50-year-old Miami Herald building from demolition.
It was bound to happen, sooner or later. China is bankrolling two major housing developments in San Francisco. A total 20,500 new homes are planned. The loan is for $1.7 billion. The borrower is Miami, FL-based Lennar Corp. (NYSE: LEN.N). Terms of the deal have not been disclosed since the transaction is not expected to formally close until Dec. 31 of this year.
International real estate investors these days are putting their money where they feel it won't vanish overnight - in the U.S., Asia and western Europe. That's the latest conclusion of Colliers International's in its recent Global Investor Sentiment Survey.
Dusseldorf-based Metro AG, Germany's biggest retailer, has contracted with Groupe Auchan SA of Croix, France, to sell its 426 Real grocery stores division for $1.4 billion (1.1 billion euros). The deal is expected to close in 2013, the company said in a news release.
Who is helping the U.S. for-sale housing market recover these days? A good many Americans, of course. But to get a more balanced picture, look outside the U.S. Foreign nationals accounted for $82.5 billion, or 8.9%, of the $928 billion spent on U.S. residential real estate from April 2011 through March 2012, according a June survey from the National Association of Realtors.
Montenegro, a comparative dot on the Adriatic Sea in Southeastern Europe, is being touted by the World Travel & Tourism Council as potentially having the fastest growing tourism sector in the world over the next 10 years.