(Reuters) – General Electric Co said it would sell nearly all of its real estate portfolio to investors including Blackstone Group and Wells Fargo & Co for $26.5 billion. The company also said its board had authorized a share repurchase program of up to $50 billion. The deal is the biggest commercial real estate deal since Blackstone’s acquisition of office landlord Equity Office Properties Trust in 2007 for $39 billion,
Kenyan property developer Home Afrika Ltd said on Friday its 2014 profit would be at least 25 percent lower than the previous year, hurt by a delay in developing its infrastructure projects during the year. The firm however said it expected improved performance in the second half of this year, buoyed by revenues from new roads and development of its flagship commercial and residential real estate project in Kiambu County,
By Jonathan Kaminsky NEW ORLEANS (Reuters) – Real estate scion Robert Durst pleaded not guilty on Thursday in Louisiana state court to firearms charges, as prospects for his swift extradition to California to face a murder charge appeared increasingly remote. Prosecutors in California have been seeking Durst’s return to Los Angeles County, where he stands accused of the 2000 slaying of a longtime friend, Susan Berman, in a case recently
OTTAWA (Reuters) – Private sector economists estimate that Canada’s economy will grow at about 2 percent this year and will pick up after that, Finance Minister Joe Oliver said on Thursday. Oliver also told reporters the government was closely watching the booming residential real estate market and would take action to calm it down “if necessary.” (Reporting by Leah Schnurr, David Ljunggren; Editing by Ted Botha)
OTTAWA (Reuters) – Private sector economists estimate that Canada’s economy will grow at about 2 percent this year and will pick up after that, Finance Minister Joe Oliver said on Thursday. Oliver also told reporters the government was closely watching the booming residential real estate market and would take action to calm it down “if necessary.” (Reporting by Leah Schnurr, David Ljunggren; Editing by Ted Botha)
Revenue from the company’s real estate business fell 24 percent in 2014, partly due to a decrease in net gains on property sales. Chief Executive Jeff Immelt has said he expects profits from the company’s aviation, power & water and other industrial businesses to rise to 75 percent of the company’s total by 2016 from 55 percent in 2013.
Revenue from the company’s real estate business fell 24 percent in 2014, partly due to a decrease in net gains on property sales. Chief Executive Jeff Immelt has said he expects profits from the company’s aviation, power & water and other industrial businesses to rise to 75 percent of the company’s total by 2016 from 55 percent in 2013.
By Jonathan Kaminsky NEW ORLEANS (Reuters) – Robert Durst, the real estate scion awaiting extradition to California to face a murder charge, was due back in a Louisiana court on Thursday to face a new indictment on firearms offenses stemming from his arrest last month in New Orleans. Prosecutors in California have been seeking Durst’s return to Los Angeles County, where he stands accused of the December 2000 slaying of
By Jonathan Kaminsky NEW ORLEANS (Reuters) – Robert Durst, the real estate scion awaiting extradition to California to face a murder charge, was indicted on weapons charges in New Orleans on Wednesday, the Orleans Parish District Attorney’s Office said. Durst, recently featured in the HBO documentary “The Jinx: The Life and Deaths of Robert Durst,” has been charged with the 2000 murder of a longtime friend in Los Angeles County
Stepped-up business hiring pushed the rental price of U.S. office space up 3.1 percent in the first quarter, the highest quarterly gain in a decade, as demand for commercial real estate accelerated, according to Jones Lang LaSalle Inc . Though occupancy growth in office space slowed to just over 6 million square feet from about double that pace throughout 2014, development activity and rental growth in particular sped up, JLL