Westfield Group's Australia and New Zealand businesses will be spun off from its global retail assets. Assets of the Australian and New Zealand units will be merged with Westfield Retail Trust to form a new company.
Real Estate
Dubai state fund acquires Atlantis hotel for undisclosed sum
Dubai state fund Investment Corp of Dubai (ICD) announced on Thursday that it has purchased the Atlantis hotel from a Dubai World unit for an undisclosed amount.
San Francisco Bay development team launches investigation on Google barge project
The San Francisco Bay Conservation and Development Commission said it will be looking into whether Google Inc had the complied with the necessary paperwork to build its barge project on Treasure Island.
Private equity investors still bullish on Indian real estate - report
A report from Cushman & Wakefield revealed that the private equity industry is still optimistic on the Indian real estate market, with private equity deals in the sector increasing 26% in the first nine months of this year.
Westfield Group agrees to purchase stake in World Trade Center for $800M
Sydney-based Westfield Group agreed to acquire the 50% stake held by the Port Authority of New York and New Jersey in the retail space of the World Trade Center site for USD 800 million.
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The following bids, mergers, acquisitions and disposals were reported on tuesday including Adcock Ingram, Energa, Nordea Bank, Alitalia, Ben Venue, TIM Participacoes, Douglas, Mercator, Novartis, OncoMed, Kerning and Malaysia Airports
An economics expert told Minnesota Public Radio News that the Blackstone Group's strategy to acquire private homes across the US was strategic as the latter was able to dominate and capitalize opportunities in a new market segment.
Dubai property firm DAMAC raised USD348 million in its first trading day in the London Stock Exchange. A week ago, DAMAC reduced the deal size to USD400 million and fixed the final price at USD12.25 per global depositary receipt (GDR).
Cool Japan Fund is looking to invest in TV channels and retail properties in the US and Southeast Asia to promote the country's culture. Cool Japan is backed by the government as well as Japanese companies and is led by a former Carlyle Group executive.
Philippine mall and banking conglomerate SM Investments Corp (SMIC) has purchased five business process outsourcing (BPO) buildings in Bonifacio Global City, Taguig for an undisclosed amount.
According to a Bloomberg report, Blackstone Group has made its mark as one of the largest warehouse landlords in the US with its industrial real estate firm formed three years ago, which is already two times its size.
Norwegian bank DNB ASA through its Chief Executive Officer Rune Bjerke rejected predictions on the country's housing market, saying that the claims were unfounded.
Klepierre exited from its four Norway shopping centers in a deal worth EUR 247 million or USD 336 million. The real estate investment trust is the second largest publicly-traded shopping mall operator in Europe.
China-based developer Guangzhou R&F Properties Co will be making its first acquisition abroad, paying USD 1.4 billion to the Sultan of Johor for six sites in Johor Bahru in Malaysia.
