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.