Commercial News for 7/28/15
WSJ.com: Commercial Real Estate
Condos Left Behind in Housing Rebound
Condos accounted for just 5.5% of all construction of multifamily housing in the U.S. in the first quarter, the lowest ratio on record, as demand has been hit by post-crisis rules on condo mortgages and by some consumers? shift in favor of renting.
Dagon City's Demise Casts Doubts on Myanmar
Myanmar?s decision to ax the $300-million Dagon City development and four others has left developers wondering if their investments are safe in the fast-growing real-estate market.
Greek Crisis Derails Italian REIT IPOs
The turbulence in Greece has crossed the Ionian Sea, foiling plans for two Italian real-estate firms preparing to list shares on the Milan stock exchange.
Baha Mar Contractor Seeks Chapter 11 Dismissal
The Chinese contractor for a stalled $3.5 billion project in the Bahamas wants the developer tossed from bankruptcy in the U.S.
Zillow Approves Dividend, Creates C Class of Stock
Zillow Group Inc. approved a dividend that will issue nonvoting Class C capital stock to its existing shareholders.
Plots and Ploys: Destination Puerto Rico
Fundamental Advisors, a private-equity firm that focuses on distressed assets, led a buying group that became the latest to acquire a hotel in Puerto Rico.
Retailers Fend Off Land Rush
Macy?s and other stores are coming under renewed pressure to cash in on their real estate as property values soar.