Fresh Stimulus Propels Emerging Markets to Fourth Week of Gains
Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
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Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
The owner of a historic office building in Manhattan’s Financial District has filed bankruptcy to sell the property, which has been subject to foreclosure and suffered from a lack of tenants due to the Covid-19 pandemic.
Deutsche Bank AG has entered a capital-relief deal with the European Investment Bank that allows the German lender to grant discounts on more than €600 million ($652 million) of green mortgages in its home market.
A unit of Abu Dhabi’s Mubadala Investment Co. said it anticipated a roughly $315 million credit hit related to loans issued to the now-insolvent Signa real estate conglomerate.
The Teranet-National Bank composite house price index which tracks home prices in 11 of Canada's largest cities remained stable from March to April.
Oct 14, 2020
Bloomberg News
,Blackstone Group Inc. agreed to purchase an office complex in Silicon Valley that’s leased to Roku Inc., a sign that newer properties with long-term tenants are finding buyers despite uncertainty created by the pandemic.
The two buildings Blackstone is buying are part of a project called Coleman Highline, a new development that’s walking distance to a Caltrain station and the stadium where Major League Soccer’s San Jose Earthquakes play.
The purchase price is about US$275 million, or roughly US$770 per square foot, according to a person familiar with the matter who wasn’t authorized to speak about the private transaction.
Roku, a maker of devices for streaming TV, moved its headquarters to the development last year. Blackstone’s deal was previously reported by Real Estate Alert, which said Roku has more than nine years remaining on its lease.
Sales of office buildings have slowed dramatically this year as the pandemic forces investors to reconsider what properties are worth. With many companies allowing employees to work from home -- in some cases permanently -- questions are mounting over whether office demand will wane. Even so, sellers with newer properties leased to high-quality tenants have been able to complete transactions.