Real Estate

  Bloomberg The Ontario Teachers’ Pension Plan is seeking buyers for a minority stake in its C$4 billion ($3.1 billion) real-estate portfolio in Vancouver, including office towers and shopping malls, according to people familiar with the matter. Cadillac Fairview, the real-estate unit of Canada’s third-biggest pension fund, is looking to raise about C$2 billion from the sale, according to the ...

  Bloomberg Chinese home prices gained in fewer cities as local governments joined some of the nation’s largest hubs in imposing residential property curbs to quell soaring real estate values. New-home prices excluding government-subsidized housing gained in 51 cities last month, from 55 in June, among the 70 the government tracks, the National Bureau of Statistics said on Thursday. Prices ...

Bloomberg Blackstone Group LP is close to an agreement to buy an eight-building apartment complex on Manhattan’s east side, for $620 million, cementing its position as one of New York’s largest residential landlords, according to a person with knowledge of the talks. The New York-based firm, the world’s largest manager of alternative assets, is planning to buy Kips Bay Court ...

  Bloomberg A newly built apartment tower in the Long Island City neighborhood of Queens hasn’t yet opened to the public nor found a single tenant, but the building is for sale. The developer, Property Markets Group, has put the 45-story tower at 23-01 42nd Road on the market to take advantage of investor demand to own apartments in the ...

  Bloomberg Norway’s $890 billion sovereign wealth fund, the world’s biggest, took the step of independently cutting the value of its massive UK real estate portfolio by 5 percent after Britain voted to leave the European Union. “It’s an extraordinary measure,” Deputy Chief Executive Officer Trond Grande said at a press conference in Oslo as he presented second-quarter results. Given ...

  Bloomberg US home construction unexpectedly accelerated in July to the fastest pace in five months, indicating the housing industry remains an area of support for the economy. Residential starts increased 2.1 percent to a 1.211 million annualized rate, exceeding all forecasts in a Bloomberg survey, from 1.186 million in June, Commerce Department data showed Tuesday in Washington. Permits, a ...

  Bloomberg Luxury builder Extell Development Co., trying to cobble together funds for a condo tower in Lower Manhattan, is finding out just how much time costs these days. Extell is hoping to complete a $463.2 million financing agreement with office landlord RXR Realty LLC to build One Manhattan Square on South Street, but that partnership was postponed for a ...

  Bloomberg Moving to Manhattan? Here’s a listing for a three-bedroom apartment in a doorman building in the East Village, offering 900 square feet for the low price of $3,384. It would be a steal, if only the houndstooth rug and surfboard art shown in the photos didn’t so closely resemble the décor seen in this listing for a one-bedroom ...

  Bloomberg Canada’s hottest housing market may be cooling. Home sales in Vancouver fell a third straight month in July, the Canadian Real Estate Association said, with price gains also showing signs of slowing. The data should be a relief to buyers and policy makers who have been growing increasingly worried about affordability in the city, and suggest Vancouver’s market ...

  Bloomberg When the world’s superrich shop for a lavish garden to frame their sprawling estates, they call Belgian master-landscaper François Goffinet. Goffinet’s secret weapon: a deep knowledge of the land and a timeless classical style. With his pavilions, ironwork, gate lodges, and follies (who doesn’t love a good hedge maze?), he’s reviving the grand tradition of the 18th century ...