Commercial

Fannie Mae Reports Record Profit as Housing Market Rebounds

Fannie Mae, the government-owned mortgage provider, reported a record $7.6 billion in quarterly earnings, its first annual profit since the housing bubble burst, according to documents filed Tuesday morning.

Increasing Retail Rents in Hong Kong Wiping out Small Businesses from Major Commercial Districts

Small-scale retailers and business owners are being pushed out of the market in Causeway Bay and other shopping districts of Hong Kong due to the sharp increase in rents. With a large number of bigger market players flooding the areas, mom and pop stores and ground level retailers are suffering, because landlords are hiking rents up by almost 50 to 70 percent.

Blackstone Group LP Real Estate Arm Acquires Half of Multi Corp’s Debts

Blackstone Group LP’s real estate arm has reportedly taken over almost half of the Netherlands-based mall developer Multi Corp’s debts. The firm has also gained control over one of the latter’s malls in the U.K.
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