Real Estate

  Bloomberg New-home construction in the U.S. slumped more than projected in March, reflecting a broad-based retreat that showed the industry lost momentum heading into the busiest time of year. Residential starts decreased 8.8 percent to a 1.09 million annualized rate that was the lowest since October and weaker than any forecast of economists surveyed by Bloomberg, Commerce Department data ...

  Bloomberg Shake Shack Inc., which has tantalized investors with promises of rapid growth, may have its expansion plans hindered by weaker real estate skills. The burger chain doesn’t have the management experience or information needed to pick prime locations, according to a Bloomberg Intelligence study from analytics provider Fishbowl. Newer Shake Shack locations were in areas that scored lower ...

  Bloomberg The University of Michigan’s endowment has bolstered its alternative assets with more than $100 million in commitments to venture capital and real estate funds. Michigan also plans a new commitment of $50 million, subject to approval, to CD Capital Natural Resources Fund III, a London-based pool that will invest in early-stage mining opportunities, according to the agenda for ...

  Bloomberg The unexpected rebound in China’s steel market this year is set to keep rolling because record output by mills has so far failed to replenish inventories as the government cranks up stimulus to boost growth. Stockpiles of steel reinforcement bar, used in construction, sank for a sixth week, contracting 6.8 percent in the period to April 18 in ...

  Bloomberg Hines, the developer behind the ultra-luxury condo tower rising by New York’s Museum of Modern Art, has a new project coming to midtown Manhattan: a senior-living community. The builder, in a partnership with senior-housing owner Welltower Inc., acquired a site at the corner of 56th Street and Lexington Avenue for an undisclosed price, according to a joint statement ...

  Bloomberg Office rents in London’s skyscrapers rose almost 10 percent in the second half of last year as city-center vacancies fell to a 15-year low, according to an index compiled by broker Knight Frank LLP, and are set to continue climbing. Annual skyscraper rents in the U.K. capital surged to $126 per square foot because of rising demand for ...

  WAM Miral and Warner Bros. has officially announced that a Warner Bros. themed destination is set to open in Abu Dhabi on Yas Island, which is one of the world’s leading business, leisure and entertainment destinations. The development will include the only Warner Bros. branded hotel alongside the immersive theme park. The first phase of the project, Warner Bros. ...

  Bloomberg Investcorp Bank BSC, the Gulf’s largest private investor in U.S. real estate over the past 10 years, plans to step up property investments in the world’s largest economy as it seeks to double assets under management to $25 billion over the next five to seven years. The company expects to spend $1.5 billion on U.S. real estate in ...

  Bloomberg Brookfield Asset Management Inc. raised $9 billion for its latest real estate fund, exceeding its $7 billion target and doubling its previous fund, as Asian investors and U.S. pension funds piled in to its fundraising efforts. Brian Kingston, chief executive officer of Brookfield Property Partners LP, said the funds are already 45 percent committed, including investments in the ...

  Bloomberg Once upon a time, rooftop pools, climbing walls, pet-washing stations, and golf simulation rooms were amenities that would genuinely help sell a high-end condo. But as the luxury market expanded after the financial crisis, developers bent over backwards to up the ante, hawking screening rooms, wine cellars, bocce courts, and concierges until so many buildings had them that ...