Real Estate

Halabi Companies Fail to Fix $1.9 Billion Commercial Mortgage Bond Default Investor Simon Halabi’s real-estate companies failed to remedy a default on 1.15 billion pounds ($1.9 billion) of commercial mortgage bonds at a time when, according to Fitch Ratings, “pretty much” all such European deals would breach loan-to-value conditions if they were tested.

Fonciere des Regions Says Properties Fell in Value by 5% in the First Half Fonciere des Regions SA, the French office landlord with stakes in five other real estate investment trusts, will report a drop of about 5 percent in property values for the first half, according to its chief executive officer.

U.S. Marshals Arrive, Ruth Madoff Leaves as Manhattan Apartment Is Seized U.S. marshals seized Bernard Madoff’s $7 million Manhattan penthouse apartment following a federal judge’s order that the Upper East Side residence be forfeited by the convicted con man.

Blackstone Sells Carmel Golf Resort to John Pritzker for About $20 Million Blackstone Group LP, the buyout firm that owns Hilton Hotels Corp., sold a golf resort near Carmel, California, to an investment firm led by John Pritzker for $20 million.

Hong Kong Home Sales Increased to the Highest Level in a Year Last Month Hong Kong’s home sales rose last month to the highest value in a year, figures from the Land Registry show.

Britons Paid Back Their Home Loans at a Record Pace, Bank of England Says Britons paid down mortgage debt at a record pace in the first three months of the year as the recession encouraged people to curb borrowing.