Latest news with #commercialproperty
Bloomberg
2 hours ago
- Business
- Bloomberg
Hang Seng Bank Shares Sink After Jump in Property Impairments
Hang Seng Bank Ltd., a Hong Kong lender controlled by HSBC Holdings Plc, posted a jump in impairments in the first half, as the city's commercial property downturn continues to inflict pain on its banks. Hang Seng Bank's credit impaired loans to Hong Kong commercial real estate rose to HK$25 billion ($3.2 billion) as of June 2025, an 85% jump from HK$13.5 billion a year ago. Nonperforming loans reached 6.69% due to 'ongoing credit pressure' in the property sector, the lender said. Its shares slumped as much as 7.6% in Hong Kong trading on Wednesday, set for the biggest drop since February.
Yahoo
2 days ago
- Business
- Yahoo
Wall Street Piles Into London Mega Deal: Deutsche Bank Bets $1.7B on Olympia Revival
In a rare moment of optimism for UK commercial property, Deutsche Bank (NYSE:DB) is moving ahead with a 1.25 billion ($1.7 billion) refinancing of London's Olympia redevelopmenta deal that could end up being one of the largest real estate loans ever seen in Britain. The five-year loan, arranged by JPMorgan and Evercore, will replace the 875 million facility issued by a Goldman Sachs fund back in 2020. The project, steered by Deutsche Finance International and Yoo Capital, is approaching the final stretch of a 2.1 billion transformation, bringing 1.5 million square feet of hotels, exhibition space, and restaurants to West London. Warning! GuruFocus has detected 4 Warning Sign with DB. According to people familiar with the deal, more than 15 lenders competed to provide financingranging from investment banks to debt fundssuggesting a shift in sentiment that's worth paying attention to. While the loan hasn't officially closed, sources say it's priced above 500 basis points and expected to be finalized before the project's completion this fall. That level of demand for a single asset deal may hint at early signs of recovery in London's bruised commercial property sector, even as caution still dominates broader capital markets. The Olympia site was originally acquired in 2017 for 296 million. Seven years and billions of pounds later, it's being recast as a cultural anchor for West London. For Deutsche Bank, this could be a well-timed betbacking the asset through to stabilization and possibly unlocking new long-term upside. The market may still be jittery, but this deal shows that, in the right pockets, capital is not just returningit's getting competitive. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Cushman & Wakefield Welcomes Conor Flannery as Executive Vice Chair in Silicon Valley
Veteran Tenant Rep Broker Joins Cushman & Wakefield from JLL SAN JOSE, Calif., July 28, 2025--(BUSINESS WIRE)--Cushman & Wakefield announced today that the real estate services firm has hired Conor Flannery as Executive Vice Chair. Bringing more than 20 years of experience in occupier services and tenant representation, Flannery will further strengthen the firm's capabilities in offering innovative real estate solutions to clients across the Bay Area. Flannery will be based out of Silicon Valley. Flannery joins Cushman & Wakefield with a proven track record of negotiating complex real estate transactions globally. During his tenure at JLL, Flannery closed over 1,200 leases valued at more than $2B and structured more than 50 acquisitions totaling $3B. With expertise in corporate real estate purchases and P&L navigation, Flannery has guided key transactions for clients like Intuitive Surgical, Netgear, Nova and Ichor Systems, spanning intricate headquarters, manufacturing sites and R&D locations. "We are so excited to welcome Conor to Cushman & Wakefield, as he is the epitome of the industry-leading talent we're recruiting," said Tom McDonnell, Executive Regional Director, Northwest. "This strategic hire reinforces our dedication to our clients in Silicon Valley. Conor's values align perfectly with our culture and his deep expertise will be invaluable as we focus on delivering the next iteration of global real estate advisory and services. By continuously recruiting exceptional professionals like Conor, we remain at the forefront of providing end-to-end solutions to our clients." Cushman & Wakefield is always advancing its advisory model to meet occupier business challenges and support decision-making. "We're committed to embedding a consulting-led approach across our platform," said Matt Chatham, President of Occupier Advisory Services. "The evolution of our business is always building on our current success, creating better tactical process to support clients. The use of more data and insights empowers our professionals to operate with greater efficiency and deliver stronger advisory solutions." "I have always been impressed with the Cushman & Wakefield team, and I am thrilled to become a part of it. With a strong foundation in Silicon Valley, I'm looking forward to contributing to the team's continued growth. We see immense potential in today's market and we're eager to deliver exceptional solutions for our occupier clients," added Flannery. About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit View source version on Contacts Media Contact: Jayden Lapin Communications Manager, West Sign in to access your portfolio
Arabian Business
2 days ago
- Business
- Arabian Business
Dubai real estate: Commercial property sales surge 50% to $8.4bn in Q2 2025
CRC Property has reported commercial property sales across Dubai reached AED 31 billion in the second quarter of 2025, marking a 50 per cent increase from the same period last year. The commercial real estate advisory firm's Q2 2025 Commercial Property Market Report shows transaction values rose from AED 20.75 billion in Q2 2024. The firm recorded a 75 per cent increase in sales deals year-on-year during what it describes as its most successful quarter to date. Behnam Bargh, Managing Director at CRC, said: 'Q2 2025 represents a defining moment for both CRC and Dubai's commercial landscape. We recorded our most successful quarter to date, with a 75 per cent increase in sales deals year-on-year. This is a direct result of our team's client-first approach and commitment to driving tangible value for our partners.' Dubai commercial property sales soar The office segment generated AED 2.62 billion in sales, representing a 93 per cent increase from Q2 2024. Transaction volumes increased by 26 per cent during the same period. Business Bay and Jumeirah Lake Towers maintained their positions as the most active areas, whilst Motor City and Barsha Heights showed increased activity. Off-plan office sales contributed a notable portion of transactions, with developments such as Omniyat's Lumena tower in Business Bay launching during the quarter. 'The success of off-plan reflects a maturing buyer mindset — long-term occupiers and institutional investors are committing to spaces that match tomorrow's needs, not just today's,' Bargh added. Warehouse sale prices averaged AED 22.2 million, up 107 per cent from Q2 2024. The increases stem from limited supply and demand for facilities in Dubai Industrial City, DIP and JAFZA. Transaction sizes have grown as logistics sector occupiers seek facilities to support regional operations. Leasing deals rose 30 per cent quarter-on-quarter, with office leasing prices averaging AED 480,768 — a 95 per cent increase year-on-year. The increases reflect demand for fitted office spaces in strategic locations. The report attributes the market performance to investor confidence, high-quality off-plan commercial developments, and demand for Grade A office and industrial assets.
News.com.au
7 days ago
- Business
- News.com.au
Landmark Newtown eatery site to test buyers' taste for property
The home of a Newtown hospitality institution has hit the market in a sale that will to test the strength of the suburb's dominant shopping strip to draw big money. The freehold title to Winters Cafe has been listed for sale as the owners look to cash in on the equity underpinning the prominent two-storey building at 330 Pakington St. Buxton Newtown agent Tom Butters has scheduled the 222sq m property for auction on August 13, quoting $2.6m to $2.8m price expectations, plus GST. The owners of Winters Cafe hold a long-term lease at the address, expiring in January 2027, with two further five-year options. The business is not part of the sale. Mr Butters said the property offers a chance for new owners to secure a 'set and forget' investment, leveraging the $83,000 annual rent, plus GST and outgoings from the net commercial lease. The two-storey building is a mainstay of the shopping strip, set among other cafes, restaurants, boutique retailers and health services. The location offers continuous foot traffic, high visibility, and unmatched commercial appeal, he said. The property offers 294sq m of floorspace, including an upper level with a private bar and a balcony. There is lane access for deliveries. Mr Butters said the shopping strip has been undergoing generational change, with some of the little village stores making way for bigger names. 'But those cafes will remain,' he said. 'They're great buildings and especially Winters has a pretty loyal following of people who love the cafe.' Mr Butters expects a local buyer will acquire the property. 'I'd probably see it as a local buyer who understands the importance of Pakington St and the price that's on offer there,' he said. 'You only have to walk up and down there on the weekend to get the feel for it. 'I think there's enough people out there who will, especially in Geelong, see the value in good commercial real estate. 'Especially in this river end village. It's a rare holding and something to hold on to for the future.' The property last sold for $1.26m in 2015, Cotality records show. It comes to market as the Burnett family is selling the freehold interest in Newtown's St Lords Hotel on West Fyans St, which is being offered with a long-term lease in place that spans up to 70 years, once options are included. The expressions of interest campaign is due to close for the pub at 5-9 West Fyans St, and a car park opposite, and could fetch around $15m. And Hamilton Group paid more than $32m for a landmark Pakington St woollen mill site with plans to reshape the vision for the precinct. The most recent major transactions on the Pakington St, Newtown shopping strip have seen sales between $2.3m up to $3.5m in 2024 and 2023. A Geelong investor landed a dual tenanted property at 317 Pakington St for $2.295m last December, reflecting a 3.6 per cent yield.
