Commercial real estate

The term commercial property (also called investment or income property) refers to buildings or land intended to generate a profit, either from capital gain or rental income.

Bill Ackman Strikes Again With General Growth Properties Bid

Bill Ackman, the mercurial hedge fund manager of Pershing Square Capital LLP and activist investor, is at it again. Ackman said in a regulatory filing Thursday that his company had been in talks with Simon Property Group Inc. (NYSE: SPG), the largest U.S. mall owner, regarding a takeover of General Group Properties Inc. (NYSE: GGP), its next largest rival.

Moody's Cuts Spanish Banks On Sovereign Downgrade

Moody's Investors Service on Monday downgraded the long-term debt and deposit ratings for 28 Spanish banks and two issuer ratings, following on the heels of a cut to Spain's sovereign rating to just above junk status earlier this month.

Too Big To Succeed? Dewey & LaBoeuf's Demise Mirrors Real Estate Collapse

The global headquarters of Dewey & LaBoeuf LLP, a glass-sheathed office tower in midtown Manhattan, has a commanding view of a stretch of Sixth Avenue looking downtown. A pair of statues, designed by artist Jim Dine, rise from the plaza of the stately office, overlooking Rockefeller Center. But now, it will be the law firm's ornate tomb, a reminder of its glory days.

SHoP Wraps Green Sheath Around South Street Seaport

One of the oldest neighborhoods in Manhattan may soon get closer to nature. SHoP Architects and mall operator Howard Hughes Corp. (NYSE:HHC) unveiled an emerald proposal for the Pier 17 mall on the South Street Seaport last Thursday that will ease the historic district into the present.

Empire State Building Owner Files for $1 Billion IPO

Empire State Realty Trust, owners of the iconic Empire State Building, filed to sell up to $1 billion of its Class A common stock, giving ordinary investors a chance to own a piece of the building that has been fought over by billionaires.

The Hottest U.S. Real Estate Markets: Washington, D.C.

The nation's capital has been a leader when it comes to real estate. While much of the country's housing market continues to languish, Washington D.C. and the surrounding area have seen tight inventory and price growth in recent months.

Dundee REIT to buy Whiterock for about $572 million

Dundee Real Estate Investment Trust (D_u.TO: Quote) will buy Whiterock REIT (WRK_u.TO: Quote) for about C$580 million ($572 million) in a cash-and-stock deal to strengthen its position in the office property space.

Wells Fargo Acquires Burdale; Bank of Ireland Continues to Deleverage Under Condition of EU-IMF Bailout

Wells Fargo & Co. (WFC) announced Monday the firm is expanding its international commercial finance capabilities through acquiring Burdale Financial Holdings Ltd and the portfolio of Burdale Capital Finance Inc. from Bank of Ireland Plc (BKIR). The portfolio represents approximately $1 billion in loans outstanding from U.S. and U.K. customers. Bank of Ireland, the nation’s largest bank, will receive about 690 million euros ($899 million) from the sale.

New York Landlords: 2011 Office Leasing Strong

Officials from major New York property owners said 2011 office leasing activity was strong, despite broader economic concerns, in a panel at the Goldman Sachs Commercial Real Estate Symposium in Lower Manhattan on Thursday.

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