Commercial Real Estate Debt Is Back With 170% Jump in Sales
Commercial real estate was one of the scariest assets in the US last year. This year, investors are warming to it once again — and that’s helped revive a key property debt market.
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Commercial real estate was one of the scariest assets in the US last year. This year, investors are warming to it once again — and that’s helped revive a key property debt market.
Novaland Investment Group, among Vietnam’s largest real estate developers, is planning to sell shares and increase borrowings after securing bondholders’ approval to restructure $300 million of notes to address a liquidity crunch.
Signa Prime Selection AG has agreed to sell three Italian properties, including the five-star Hotel Bauer in Venice, to the Schoeller Group.
NatWest Group Plc beat earnings estimates in the first quarter as lending and deposits increased while customers started to feel more confident.
Singapore home prices grew at a slower pace last quarter and rents fell, as the city-state’s property boom began to lose steam.
Jan 20, 2019
Bloomberg News
,(Bloomberg) -- Thomas Cook Group Plc will build two new hotels in China with its joint venture partner Fosun International Ltd., including the first Asian branch of its own Casa Cook brand.
The hotels, one in Lijiang in southwestern China, and the other in Taicang, near Shanghai, will be built by Fosun and managed by Thomas Cook China, and will open in late 2020, the companies said in a statement Sunday.
The U.K. tour operator is targeting China’s $761 billion tourism industry as it sets its sights on the nation eventually accounting for between 15 percent and 30 percent of sales. Thomas Cook now has four own-brand hotels being built in China. It plans to open as many as 15 over the next five years, Chief Executive Officer Peter Fankhauser said last year.
To contact Bloomberg News staff for this story: Rachel Chang in Shanghai at wchang98@bloomberg.net
To contact the editors responsible for this story: Shamim Adam at sadam2@bloomberg.net, Andrew Janes, John McCluskey
©2019 Bloomberg L.P.