US existing home sales slip
Dow Jones NewswiresSales of previously owned homes slipped for the second consecutive month in October, the latest sign that increased interest rates are weighing on the housing recovery. Existing-home...
View ArticleDexus to block GPT bid for CPA
By a staff reporterDexus Property Group says it will use its existing interest in takeover target the Commonwealth Property Office Fund (CPA) to block a rival bid from GPT Group.In a statement to the...
View ArticleCapitaland reduces stake in Australand
By a staff reporterAustraland Property Group's major shareholder has sold a 20 per cent chunk of the group to a range of existing and new institutional investors.In a statement to the Australian...
View ArticleMirvac prices $506m notes issue
By a staff reporterMirvac Group has priced a long-term US private placement note issue totalling $A506 million.In a statement to the Australian Securities Exchange, Mirvac said the issue will comprise...
View ArticleSCA Property Group refinances $600 million of debt
SCA Property Group has refinanced $600 million of its debt through Australia's four major banks, reducing the average-weighted cost of its debt to 4.8 per cent from 5.3 per cent.The property trust,...
View ArticleCapitaLand drops JPMorgan for Citigroup
IT was taken somewhat as a given that should CapitaLand embark on a block trade of its major holding in Australand, the bankers working on the deal would be JPMorgan.CapitaLand, which until yesterday...
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DataRoom AM: Determined Dexus
DataRoomBreakfast DealsDaniel PalmerThere’s plenty of action in the real estate sector, with a 20 per cent block trade in Australand proceeding as planned and Dexus Property Group staring down a...
View ArticleGDI Property float reaches target amid REIT rush
The $567.6 million float of GDI Property Group closed on strong demand last night after sole lead manager Credit Suisse achieved its target $310 million in equity and existing investors piled into the...
View ArticleHousing market improving: AV Jennings
AAPHome builder AV Jennings Ltd believes Australia's housing market is improving as consumer confidence belatedly recovers.But the house and land packages group, which has made a loss for two years...
View ArticleCharter Hall completes equity raising
By a staff reporterCharter Hall Retail REIT has completed its fully underwritten $80 million institutional placement to partially fund the acquisition of Melbourne shopping centre Rosebud Plaza.In a...
View ArticleCPA terminates Dexus takeover bid
By a staff reporterCommonwealth Property Office Fund Ltd (CPA) has terminated a takeover bid from Dexus Property Group Ltd and Canada Pension Plan Investment Board (CPPIB) after the consortium failed...
View ArticleJapan dives into Aust mortgage market
In the first entry of a Japanese bank into the Australian mortgage market, Bank of Tokyo-Mitsubishi has announced it will provide AMP Ltd with a $500 million one-year mortgaged-backed facility, The...
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The dark side of house price appreciation
Business SpectatorEconomyVoxEUPolicymakers around the world often worry about decreases in real-estate prices and other asset prices, and take measures to prevent them. For example, in the aftermath of...
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Let's get negative about negative gearing
IndustriesPropertyRob BurgessGiven the early walloping the Abbott government has taken in the polls thanks to its ‘stop the votes’ policy, the Coalition is going to have to find some good news to win...
View ArticleUS housing permits surge in Oct
Dow Jones NewswiresDemand in the United States for housing permits surged in October to the highest level in more than five years, a sign US home construction could gain traction as the year ends. The...
View ArticleA bad bricks and mortar lesson from Masters
Adapt or Die Knowledge HubRetailRobert GottliebsenEveryone can learn from Woolworths’ successes and mistakes.On the positive side, Australia’s largest retailer is throwing itself into the online space...
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A tough reign for Jackman at fading Elders
IndustriesAgribusinessStephen BartholomeuszMalcolm Jackman’s five-year tenure at the helm of the much-diminished rural services group Elders ended abruptly today. No doubt he has mixed feelings, but at...
View ArticleHow to avoid weekend penalties: have lots of kids
IndustriesFamily BusinessAlan KohlerIt’s a lucky family hotel owner who has six boys: weekend penalty rates are for others, not you.Rosario (Ross) Colosimo, now 66, was blessed with six boys and now...
View ArticleCharter Hall sells Syd project stake
By a staff reporterCharter Hall Group has entered a conditional agreement with TA Global Development Pty Ltd to sell its 50 per cent stake in the Little Bay Cove project.In a statement to the...
View ArticleNew home sales fall in Oct: HIA
AAPSales of new homes have fallen, after reaching their highest level in two years in September, a survey shows.New home sales fell by 3.8 per cent in October, seasonally adjusted, following a 6.4 per...
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