FeedRE

Real Estate News Feeds

Mortgage Bankers Sell Building at a Loss

By WSJ.com: Real Estate • Feb 8th, 2010 • Category: Real Estate News

The Mortgage Bankers Association sold its 10-story headquarters building in Washington, D.C., for $41.3 million, well below the $79 million it paid in 2007.

Full article: Mortgage Bankers Sell Building at a Loss ...

Tagged as:

Related posts:

    • MBA Report: Mortgage Bankers Less Profitable in Third Quarter
      Mortgage bankers saw their profit margins narrow during the third quarter of 2009 according to data released today by the Mortgage Bankers Association (MBA). Independent mortgage bankers and subsidiaries saw their profits drop from an average of 71.29 basis points or $1,358 per loan in the second quarter to 50.03 basis points or $902 in the third. The average production...
    • Hancock Tower Sold at Auction
      Boston's John Hancock Tower was sold in a foreclosure auction for $660.6 million, half the price paid by Broadway Partners three years ago for New England's tallest building....
    • Hancock Tower Draws Low Bid
      Boston's John Hancock Tower was sold in a foreclosure auction for $660.6 million, half the price paid by Broadway Partners three years ago for New England's tallest building....
    • Cornerstone, Kettler Sell Pentagon City Multifamily for $125M
      Cornerstone Real Estate Advisers LLC and Kettler sold the Metropolitan at Pentagon City, a 325-unit multifamily complex at 901 S. 15th St. in Arlington, VA, to Invesco for $125 million. Invesco paid $111.7 million, or about $343,700 per unit, for the......

Advertising

10
Category: Real Estate News
  • UK Crown Estate Shortlists Partners For Portfolio Sale

    LONDON -(Dow Jones)- The Crown Estate, which manages a diversified GBP6 billion portfolio across the U.K. on behalf of the U.K. sovereign, Friday said it had shortlisted a number of potential investment partners to buy a 25% stake in its GBP1.6 billion Regent Street estate in London.

    The Crown Estate said the matter is still at an early stage and that detailed discussions will be required with the shortlisted potential partners before a final decision is taken.

    The preferred shortlist was drawn from a list of U.K. and international potential buyers, a spokeswoman for the Crown Estate said.

    As the estate isn't allowed to borrow, selling a stake in the portfolio to a partner would allow it to raise cash for investment.

    A spokeswoman for the Crown Estate said the cash will "enable us to invest further in Regent Street and our St James's portfolios - demonstrating our continued commitment to the West End as well as enabling us to invest elsewhere in the U.K."

    Regent Street is home to world famous toy store Hamleys, and houses flagship stores for brands such as National Geographic, Apple Inc. (AAPL) and fashion retailer Aquascutum. The Crown Estate owns all of Regent Street, where it is implementing a GBP750 million regeneration program to create an international retail and business destination.

    The estate pays all of its profit to the U.K. Treasury. It paid GBP210.7 million to the Treasury in the year 2009/10 and has paid some GBP1.9 billion over the past 10 years.

    The Crown Estate has a property portfolio that comprises farms, forests and parks, as well as commercial holdings in London's Regent Street, Regent's Park and St James's.

    It said it remains committed to Regent Street and its investment for the long term and will retain management control, so occupiers and other stakeholders won't see any change to the way Regent Street is managed. It will also keep 100% of the Regent Street freehold.

    Its urban estate includes around 1.3 million square meters of office and retail space throughout the U.K. along with over 2,500 residential units.

    Copyright © 2010 Dow Jones Newswires

  • Ukraine signs $950 mln China loan for railway link

    KIEV, Sept 3 (Reuters) - Ukraine has secured a $950 millionloan from China to build a railway link between Kiev and thecapital's main airport and has hired a Chinese company for theproject, Chinese and Russian media said on Friday.

    Ukrainian President Viktor Yanukovich signed the loanagreement on a visit to China that began on Thursday. It is thefirst trip to China by a Ukrainian leader.

    During the visit "an agreement was ... signed securingChina's credit support to a 30-kilometre railway project andconstruction of auxiliary facilities for an airport in Ukraine'scapital, Kiev," the English-language website of China's People'sDaily said, quoting the China Daily newspaper.

    "The railway project, contracted to a Chinese firm, willcost $950 million and construction will begin next year," itsaid, adding that the project would take three years tocomplete.

    Russia's Interfax news agency quoted Ukranian official incharge of the project, Vladyslav Kaskiv, as saying that Ukrainewould be able to finance the full cost of the project using theloan.

    There was no mention of the rail deal in the jointdeclaration signed between China and Ukraine, a copy of whichwas posted on the Chinese Foreign Ministry's website(www.mfa.gov.cn).

    Government officials in China could not be reached forcomment on the deal. (Writing by Olzhas Auyezov; Additional reporting by BenBlanchard in Beijing)

  • Hong Kong Government: To Auction Kowloon Tong Site Oct 12

    HONG KONG -(Dow Jones)- The Hong Kong government said Friday it will put up a residential site on the Kowloon Peninsula for auction on Oct 12.

    The site has an area of 2,808 square meters and maximum gross floor area of 8,424 square meters. The opening bid will be HK$1.053 billion, the government said.

    The site, located at No. 3 and 5 Ede Road, is adjacent to the parcel of land won by Kerry Properties Ltd. on Tuesday for HK$1.285 billion.

    Copyright © 2010 Dow Jones Newswires