Real Estate News
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Steven Hoffman, owner of a wooden button factory in Brooklyn, New York, was drawn into real estate investment trust CYS Investment Inc. by its 12 percent dividend yield. After buying 2,000 of shares a year ago that have since dropped 43 percent amid concern the Federal Reserve would reduce its economic stimulus, he’s now anxious his payout will be cut.
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Blackstone Group LP raised more than $4 billion in 2009 to buy European property assets anticipating that cash-strapped banks would be forced to sell as the region’s debt crisis worsened. Almost all of it sat idle for two years.
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Twitter Inc., the microblogging site planning an initial public offering, is in talks to lease a 320,000-square-foot office adjacent to its San Francisco headquarters, said people with knowledge of the discussions.
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A Shanghai Zhongrong Property Group Co. unit plans to invest 500 million pounds ($810 million) rebuilding London’s Crystal Palace, a glass and iron commercial hub that burned down in 1936.
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