The seized-up credit markets and economic uncertainty will take a toll on commercial real estate for the next few years, with rents and occupancy falling until at least the first half of 2010, said Bob Bach, chief economist with Grubb & Ellis.
October was another tough month for hedge funds, as the ripple effects of the global credit crunch continued to force managers to unwind portfolio positions.
Developers Diversified Realty Corp., a shopping center real estate investment trust that has struggled with debt issues, faces yet another headache.
A $989 million loss by a Goldman Sachs fund year-to-date through September offers more proof that in the hedge fund space, the bigger they are, the harder they fall.
Kohlberg Kravis Roberts & Co. LP, a 32-year-old private-equity firm, is delaying plans to become a public company, due largely to the credit crisis, which has cut the value of its investments.
Advisers for ultrawealthy investors are bullish on hedge funds, with many planning to increase their allocations to the alternative investments next year, according to a new study.
The Securities Industry and Financial Market Association will file a lawsuit against South Dakota if voters there approve a ballot initiative tomorrow that the group claims would effectively ban all short selling.
The Depository Trust and Clearing Corp. today announced that starting Tuesday, it will publish weekly aggregate market data from the Trade Information Warehouse it maintains on credit derivatives.
The Minnetonka, Minn.-based fund’s chief executive, Colin Smith, said in a letter to investors that the current pace of redemption requests could hurt “both continuing and later redeeming investors."
More than 7.5 million Americans at the end of September owed more in loans than their house was worth, according to a report by First American CoreLogic Inc. of Santa Ana, Calif.
The residential real estate market continued to struggle in August with home prices tumbling at a record pace during the month, according to the Standard &Poor’s/Case-Shiller Home Price Index that was released today.
Deutsche Bank AG lost more than $400 million on equity derivatives as the stock markets fell in the wake of the financial crisis, two people familiar with the matter told Bloomberg.
The latest data from the Department of Commerce indicate sales of new single-family homes rose slightly in September from August while average home prices fell to their lowest level in almost three years.
The price of an ounce of gold for December delivery increased more than 2% in Friday trading, following a decrease of more than $190 .
Six Democratic House leaders who deal with financial services issues, including Rep. Barney Frank, D-Mass., Friday expressed “outrage” over a news report that some hedge funds have tried to convince companies that service mortgages not to take advantage of legislation aimed at reducing foreclosures, because it would hurt their mortgage investments.
In another sign that the housing turmoil continues to deepen, foreclosure activity surged more than 70% in the third quarter from the same period a year ago, according to the latest data from RealtyTrac of Irvine, Calif.
Hedge fund data-gatherers have started rolling out the grim numbers from September, a month being dubbed the worst month in the history of the shrinking industry.
The housing crisis showed no signs of rebounding in September as construction of homes dropped to its slowest pace since early 1991, and building permits for new homes fell to their lowest level in almost 27 years.
If preliminary data on hedge fund redemptions for September are any indication, the $1.9 trillion industry could be scrambling to honor a flood of withdrawal requests at the end of the year.
San Francisco hedge fund MedCap Management & Research LLC and its principal, Charles Toney, were charged today by the Securities and Exchange Commission with reporting misleading results by “portfolio pumping.”
