Bloomberg Cornerstone Real Estate Advisers, an asset manager owned by Massachusetts Mutual Life Insurance Co., agreed to buy ACRE Capital Holdings LLC in a bet on multifamily loans. Cornerstone agreed to pay $93 million to purchase the Plano, Texas-based lender from Ares Commercial Real Estate Corp., the buyer said on Wednesday in a statement. The deal will double Cornerstone’s ...

  Bloomberg Homebuilder Sunac China Holdings Ltd. has temporarily stopped buying land from government auctions in China because prices surged amid a housing rebound, Chairman Sun Hongbin said. “We’ve suspended all bidding recently and didn’t even sign up” for auctions by local governments, Sun said at a briefing. “I feel the risk is too high,” he said without giving a ...

  Bloomberg Canada’s province of British Columbia will end self-regulation of the real estate industry as government officials move to rein in unethical practices that may be stoking home prices in Vancouver, one of North America’s fastest-appreciating cities. “The real estate sector has had 10 years to get it right on self regulation and they haven’t,” Premier Christy Clark said. ...