Political and financial upheaval in some of the world's largest emerging economies is driving a new wave of rich migrants to London's supercharged property market as a place to park their wealth, data from a leading real estate agency showed on Friday.
Real Estate
SM Investment Corp. invests in Philippine community mall development firm
Philippine-based real estate holding company SM Investments Corp entered an agreement to acquire a 34% stake in CityMall Commercial Center Inc for an undisclosed amount to construct a chain of community malls in Visayas and Mindanao.
Financial crisis fears rise while Wells Fargo eases way back into subprime home loans
Wells Fargo & Co is now making its way back to the subprime mortgage market, potentially bringing fears that US lenders will be making the same mistakes that prompted the financial crisis, Reuters reported.
Scottish travel agency Minoan buys back stake from investor
Glasgow, Scotland-based travel agency and property developer Minoan Group PLC bought back a 20% holding in its travel and leisure business for £930,000, which it previously sold to an outside investor for £770,000.
New-York based construction project marketplace Architizer raises $2M in seed funding
New York, US-based online architectural construction project marketplace Architizer raised $2 million in a seed funding round led by Gaspar Global Ventures, Alessandro Piol, and Joanne Wilson, to pursue a $200-billion construction supplies project.
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MassHousing, a self-supporting quasi public agency in Massachusetts, has closed $11.8 million loans to acquire and convert Sitkowski School to 66 affordable apartments for seniors, Boston.com reported.
San Francisco, US-based firm Inzopa launched a platform that simplifies the process of home financing by connecting homebuyers with real estate agents, mortgage brokers, and lenders.
Apartment List, an online rental marketplace, was able to raise an additional $6 million in financing in a follow-on round led by Glynn Capital and Passport Capital, TechCrunch reported.
MPC Synergy Real Estate, a private equity firm that formed a joint venture with Akme Projects, will be exiting its investments in the India- based firm, according to sources interviewed by The Economic Times.
Wayfair, an online home-furnishings site, saw its company valuation hiked past the billion - dollar mark when it recently raised $150 million in a T. Rowe Price - led fundraising round, said a source who told Reuters.
European real estate asset manager SEB Asset Management bought ten-storey office and commercial structure Primegate, which is valued at JPY 5.5 billion (around €39 million).
Ohio, US-based investment firm Rockbridge Partners purchased Honolulu, Hawaii-based Aqua Waikiki Wave Hotel for an undisclosed amount to mark the company's 330th investment in the hotel sector.
A growing number of hedge funds and institutional investors are acquiring non-performing loans from banks and federal agencies who can no longer keep them due to expensive holding costs of such loans, Bloomberg said in its report.
Blue Ash, Ohio-based private equity real estate firm Viking Partners sold Indiana-based shopping center Fishers Crossing to a California-based investor in a deal valued at $4.1 million.
