Blackstone Sells $1 Billion of California Warehouses to Rexford
Blackstone Inc. sold 48 warehouses in Southern California to Rexford Industrial Realty Inc. for $1 billion.
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Blackstone Inc. sold 48 warehouses in Southern California to Rexford Industrial Realty Inc. for $1 billion.
Plunging demand for commodity offices in the US is driving growth for the highest-quality properties, a Morgan Stanley executive said.
Nuveen is shifting management of about 3,000 rental houses to Invitation Homes Inc., marking the end of its attempt to launch a new single-family landlord.
Jefferies Financial Group Inc.’s revenue jump — due to strong capital markets and rebounding investment banking — bodes well for the bigger banks due to report in weeks to come.
Canada’s real estate market is seeing some signs of increased activity, but one economist says a recovery will be gradual until interest rates are firmly moving down.
Apr 15, 2021
Bloomberg News
,(Bloomberg) -- Singapore home sales rebounded in March, fueling concerns that authorities may impose new measures to cool the market.
Purchases of new private apartments doubled to 1,296 last month from 645 units in February, Urban Redevelopment Authority data showed on Thursday.
The jump adds to signs that Singapore’s residential market is heating up as the economy begins to recover from the pandemic-induced recession. Authorities have warned that low interest rates can distort asset prices and the property market shouldn’t run ahead of economic fundamentals.
“Yes, there could be more risk of new curbs,” said Christine Sun, senior vice president of research and analytics at OrangeTee & Tie. Demand is rising as buyers anticipate prices will climb further in tandem with the economic recovery, Sun said, adding that many are also taking advantage of low rates to upgrade their dwellings.
Still, Sun added that last month’s strong sales were largely driven by the luxury segment, where buyers don’t usually have affordability issues. “The authorities may be more concerned if prices are largely driven by the mass-market segment,” she said.
Other nations are grappling with similar issues. New Zealand is removing tax incentives for property investors, while Canada faces growing calls to rein in the market.
Home prices in Singapore grew 2.9% last quarter, according to preliminary data -- the most since the second quarter of 2018, right before authorities last imposed cooling measures. Prices of public housing flats and luxury homes have also risen, with some breaking records along the way. Sales of private used homes have reached the highest level in almost a decade.
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