News

General Growth Properties Inc. said its biggest debt and equity holders offered to jointly invest $3.93 billion in the company, bolstering a plan with Brookfield Asset Management Inc. to bring the mall owner out of bankruptcy / Source: Bloomberg
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Hennes & Mauritz AB Chief Executive Officer Karl-Johan Persson said the economy will be “a little better” this year and confirmed that Europe’s second-largest clothing retailer plans to open 240 stores in 2010 / Source: Bloomberg
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Aberdeen European Balanced Property Fund has bought Redevko’s Turun Sampotalo office building in Turku, Finland / Source: Property Week
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Whitbread-owned Premier Inn hotel has signed up with Westfield, the Australian shopping centre developer, to open a 267-bedroom budget hotel at Stratford, next to the Olympic Stadium / Source: Property Week
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Danske Bank A/S took control of a 104-year-old office building in New York’s Times Square from Istithmar World PJSC, the second loss of a Manhattan property by the Dubai World unit in three months / Source: Bloomberg
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Gerald Ronson, the billionaire property developer, has filed plans to build a five-star hotel and more than 100 luxury apartments in the heart of the City of London as part of a wider £500m ($752m) scheme / Source: Financial Times
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Rreef Investment GmbH has bought the Park Tower office building in Frankfurt from a Morgan Stanley fund for around ˆ123m / Source: Property Week
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Global investment volumes will near $500bn this year following investment surges in China, the UK and the US, research from Cushman & Wakefield has said / Source: Property Week
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China overtook the U.S. as the world’s biggest property investment market last year and will probably keep the lead in 2010 on economic growth and a lower reliance on debt, Cushman & Wakefield LLP said / Source: Bloomberg
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Dubai shares declined for a second day after results at Arabtec Holding Co., the biggest construction company in the United Arab Emirates, disappointed investors / Source: Bloomberg
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Liberty Plc, the 135-year-old U.K. luxury retailer, may sell its Tudor-style flagship store in London’s West End shopping district / Source: Bloomberg
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Russian foreign direct investment plummeted an annual 41 percent to $15.9 billion last year as the economy posted its biggest contraction since the collapse of the Soviet Union / Source: Bloomberg
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The default rate for commercial property mortgages held by U.S. banks more than doubled in the fourth quarter and may reach a peak of 5.4 percent at the end of next year, according to Real Capital Analytics Inc / Source: Bloomberg
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Land Securities Group Plc, the U.K.’s largest real estate investment trust, is preparing to restart development of the London skyscraper known as the Walkie-Talkie as a shortage of office space looms / Source: Bloomberg
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Liberty International, the UK’s largest shopping mall owner, is in talks to sell its $560m (£368m) US shopping centre business to a Miami-based real estate investment trust as the next step in its planned demerger / Source: Financial Times
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California, facing a deficit that could force it to issue IOUs, may raise more than $2 billion from the sale of 11 office properties that would be the biggest commercial real estate deal in the state government’s history / Source: Bloomberg
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Metro AG’s Media Markt/Saturn electronics division is in talks to buy M.video, a Russian retailer, Kommersant reported, citing unidentified people familiar with talks / Source: Kommersant
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Wal-Mart Stores Inc., the world’s largest retailer, said it plans to open 35 to 40 supercenters in Canada in 2010 / Source: Bloomberg
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Carrefour SA, Europe’s largest retailer, plans to eliminate 11 percent of its staff in Belgium, shutter or sell 41 of its 627 stores in the country and cut wages to restore profit following five years of declining sales / Source: Bloomberg
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The number of commercial real-estate sales rose sharply in December, triggering fresh debate about whether the sector has reached bottom / Source: Wall Street Journal
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