A USD1.4 billion settlement is being negotiated between Bank of America and Freddie Mac on the issues related to the repurchase of faulty mortgages sold by the bank to the mortgage lender.
Real Estate
Secured Capital closes USD1.5 billion for Asian investments
Japan-based Secured Capital, the real estate arm of private equity firm PAG, raised USD1.5 billion to invest in real estate and debt opportunities in Asia.
Apollo raises USD3.9 billion to buy out distressed assets in Europe
American investment firm Apollo Global Management LLC raised USD3.9 billion to buy distressed European assets. Specifically, the private equity firm is hunting for hotels and resorts in Spain.
Highfields Capital Management sells stake in JPMorgan, Oracle
Boston-based hedge fund Highfields Capital Management exited from its stake in JPMorgan Chase & Co and Oracle Corp and halved its holdings of Capital One Financial Corp.
Ryan Corporation UK pays GBP 100 million to build tallest residential building in Europe
Ryan Corporation UK acquired a site in Canary Wharf, a business district in London, for GBP 100 million. The property company owned by Tom Ryan aimed to build a residential building that will tower over the highest building on the site.
Latest News
Property developers of high-end apartments and real estate in Hong Kong were not happy about the state government's new regulations on mortgage tax and downpayments.
Canadian retailer Sears Canada would be exiting from its ownership in eight real estate properties for CAD315 million after suffering from company losses.
Dexus would be managing one fourth of commercial buildings in Sydney upon the takeover by CCPIB of the office trust held by the Commonwealth Bank of Australia.
Octopus Investments led the seed round, which raised more than GBP 700,000 for Uniplaces. Student accommodation website Uniplaces was able to raise more than GBP 700,000 in seed funds.
New Zealand healthcare company Bupa became the top operator in the region after it acquired three rest-homes in Dunedin, Gore and Riverton.
Property company Westfield Group announced that UK mall is up for sale. Property giant Westfield Group put its UK shopping center up for sale. The company cited expansion and development for other stores as the reason for this sale.
Ayala Land Inc has pursued its plan to acquire a portion of IRC Properties Inc's lot in Binangonan, Rizal in the Philippines.
The AUD 2.83 billion offer from Dexus Property Group and the Canada Pension Plan Investment Board for the Commonwealth Bank of Australia's listed trust was accepted by the lender.
A report from the Financial Times said China Investment Corporation was nearing a deal to buy Chiswick Park from Blackstone.
