REAL ESTATE
Calloway Real Estate Investment Trust said on Thursday it is acquiring the SmartCentres platform from Mitchell Goldhar as part of a C$1.16 billion ($952 million) deal that will make Calloway a fully integrated real estate developer and operator. On closing of the proposed deal, Toronto-based Calloway said, it intends to change its name to SmartREIT to reflect its enhanced capabilities. Goldhar, who himself owns a sizable stake in Calloway and
WASHINGTON (AP) — U.S. homebuilders opened the spring buying season in March at a slower pace than last year, a warning that recent hiring gains have failed to translate into a stronger real estate market.
China’s annual fiscal revenue growth slowed to 3.9 percent in the first quarter from 8.6 percent in 2014, official data showed, as persistent economic weakness dampened tax collection and other government incomes. Revenues totaled 3.64 trillion yuan ($587.67 billion) in the first quarter, data from the Finance Ministry showed on Thursday. In March, China’s fiscal revenues totaled 1.069 trillion yuan, up 5.8 percent from a year earlier, the ministry said.
By Steve Gorman LOS ANGELES (Reuters) – The wife of former Los Angeles Clippers owner Donald Sterling has won a court decision ordering repayment of $2.6 million in real estate and cash he furnished to his alleged mistress, V. Stiviano, the woman behind his racially charged downfall. Los Angeles Superior Court Judge Richard Fruin ruled that Shelly Sterling was entitled to recover those assets from Stiviano because they came from
By Alan Baldwin MANAMA (Reuters) – A Chinese Grand Prix podium hostess who had champagne sprayed in her face by race winner Lewis Hamilton has played down the incident after the Formula One world champion was accused of sexist bullying. “It lasted for only one or two seconds, and I didn’t think too much about it,” Liu Siying, a 22-year-old graduate of the Shanghai Institute of Visual Art who works
By Alan Baldwin MANAMA, April 15 (Reuters) – A Chinese Grand Prix podium hostess who had champagne sprayed in her face by race winner Lewis Hamilton has played down the incident after the Formula One world champion was accused of sexist bullying. “It lasted for only one or two seconds, and I didn’t think too much about it,” Liu Siying, a 22-year-old graduate of the Shanghai Institute of Visual Art
By Krishna N. Das NEW DELHI (Reuters) – Fewer power cuts are likely in India this summer after a surge in output at Coal India helped generators amass record stocks, a turnaround for Narendra Modi who had to battle a power crisis within months of becoming prime minister last May. Fast-track mine approvals, tighter production oversight and more flexibility in coal sales have helped power station stocks recover from a
Filed under: Design, Home Improvement, House of the Day Courtesy of The Pure HouseEnergy efficient homes can cost about 10% more to build, but can pay off dramatically in savings over time. An optimistic view of housing in the future is that all homes will be built to require minimal energy to operate and to be healthy living environments. One example is the Pure House in Westport, Connecticut. Built using
Sales of existing homes in Canada rose in March from February as gains in the biggest markets of Toronto and Vancouver continued to support the rest of the country, the Canadian Real Estate Association said on Wednesday. The industry group for Canadian real estate agents said sales activity was up 4.1 percent last month from February. CREA’s home price index rose 4.95 percent from March 2014.
By Zachary Fagenson MIAMI (Reuters) – Blackstone Group LP has secured a $600 million loan for a Florida developer turning a once dingy, warehouse district in Miami into a premier luxury retail destination, according to sources familiar with the deal. Blackstone will hold a $100 million mezzanine portion of the loan with the Bank of China providing $250 million, Craig Robins, president and chief executive of Miami-based Dacra Development, told
