Canada’s Manulife Financial Corp is seeking to list some of its U.S. property assets in Singapore in the second half of the year in an initial public offering worth $450 million, two people familiar with the deal said. The listing would use the real estate investment trust (REIT) structure, they said, declining to be identified as the deal has not been formally announced. The IPO may help lift a drought
JOHANNESBURG (Reuters) – South African gaming and hotel group Tsogo Sun is considering listing its property portfolio worth 30 billion rand ($2.5 billion) separately as a Real Estate Investment Trust (REIT), its CEO said on Thursday. Tsogo Sun will make the decision before the end of this year and if listed, Tsogo will still retain control of the property division, said CEO Marcel von Aulock. ($1 = 11.7951 rand)
By Herbert Lash NEW YORK (Reuters) – The Dutch, it is said, bought Manhattan Island in 1626 from its native American inhabitants for about $24 in trade goods. Half a millennium later, that sum wouldn’t buy a square foot of office space in New York City’s trendiest real estate market, the area below 34th Street known as Midtown South. Fueled by an influx of workers from the Internet economy and
Filed under: Buying, Investing, Lifestyle ZillowThis California home on a hillside in Laguna Beach has a swimming pool as well as views of the Pacific Ocean. By Susan Johnston As summer approaches, perhaps you’re daydreaming about putting in a swimming pool or buying a property with a backyard pool. That way you can take a dip and cool off in your own pool whenever the mood strikes, never mind piling
Filed under: Buying, Investing, Lifestyle ZillowThis California home on a hillside in Laguna Beach has a swimming pool as well as views of the Pacific Ocean. By Susan Johnston As summer approaches, perhaps you’re daydreaming about putting in a swimming pool or buying a property with a backyard pool. That way you can take a dip and cool off in your own pool whenever the mood strikes, never mind piling
Austrian holding company Signa, which owns the Karstadt chain of department stores, has made a 2.9-billion-euro ($3.2-billion) offer to buy rival Kaufhof chain from Metro, the business daily Handelsblatt reported Wednesday. Quoting “several” sources with knowledge about the deal, the newspaper said that Signa, the holding company of Austrian real estate magnate Rene Benko, has completed a review of Kaufhof’s accounts and submitted a written offer. Benko has already tried
Filed under: Buying, Financing, Refinancing ZillowThe weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals. By Lauren Braun Mortgage rates for 30-year fixed loans fell this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.77 percent, down 5 basis points from the same time last week. The 30-year fixed mortgage rate fell early in the week, then hovered around 3.71 percent
Filed under: Buying, Financing, Refinancing ZillowThe weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals. By Lauren Braun Mortgage rates for 30-year fixed loans fell this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.77 percent, down 5 basis points from the same time last week. The 30-year fixed mortgage rate fell early in the week, then hovered around 3.71 percent
Filed under: How To, Selling Feverpitched/Getty By Brendon DeSimone Most sellers have a specific goal when it comes to their transaction: a quick sale and top dollar. But sometimes fast action doesn’t align with achieving the highest and best value. There are multiple schools of thought on this subject and the perspective varies not only with where you are in the country, but also by price point, neighborhood and even
China’s new home prices fell for the eighth consecutive month in April from a year earlier but were flat from March, adding to hopes that a property downturn which is weighing heavily on the economy is beginning to bottom out. Average new home prices in China’s 70 major cities dropped 6.1 percent last month from a year ago, the same rate of decline as in March, according to Reuters calculations