Commercial News for 12/19/13
WSJ.com: Commercial Real Estate
KKR Real-Estate Fund Hits $1.5 Billion Target
KKR & Co. expects to finish raising a $1.5 billion real-estate fund this week, the latest sign that some large investors are regaining an appetite for riskier real estate.
Japanese Pension Funds Move Slowly Into Real Estate
Some of Japan's pension funds are moving into the country's newly hot real-estate market in search of higher profits.
Toll Brothers Hits Limits of Luxury-Home Prices
Toll Brothers reported a 10% decline in sales contracts in recent weeks, which analysts and even the company partly attributed to sticker-shock on the part of consumers.
Hotel Boom in South Korea Sparks Concern
A record number of foreign tourists visiting South Korea has fueled in Seoul a hotel boom. But some say an overreliance on visitors from China and Japan leaves the country vulnerable to future overcapacity.
Chinese Developer Buys Malaysian Parcels
Guangzhou R&F Properties has agreed to acquire six parcels in Malaysia for $1.39 billion, becoming the latest Chinese property developer to expand abroad.
New Funds for Virtual Tours Firm
Startup company View the Space, which creates virtual commercial-property tours and collects leasing data for landlords, has landed a $7 million round of venture financing.
Blackstone Books Profit With Hilton Hotels
Blackstone has boosted its investment in Hilton Worldwide not by expanding the empire of company-owned hotels but by renting out its brand names, like Hampton Inn, to franchisees.