Real Estate

Business activity in the euro area unexpectedly shrank this month, fueling concerns about the prospects for Europe’s economy and suggesting the European Central Bank will need to be more aggressive with interest-rate cuts.

D.E. Shaw & Co. is trying to find a buyer for some of the assets that it has built up over the past decade in Spain, according to people familiar with the matter.

New York Mayor Eric Adams’ landmark deal with lawmakers on an ambitious plan to build 80,000 new homes came together thanks to a last-minute pledge by the city and state to spend $5 billion on affordable housing and infrastructure.

Canary Wharf Group’s owners are offering to provide £900 million ($1.1 billion) of new equity to help the property company repay debt — on the condition that bondholders agree to a new layer of secured borrowing.

Colombia’s billionaire Santo Domingo family is selling its stake in Spanish real estate firm Inmobiliaria Colonial Socimi SA, curbing its holdings in a favored asset class for wealthy global investors.

Alternative asset manager Ares Management Corp. is considering setting up shop in Milan to target lending opportunities to businesses that currently lack access to private credit.

Kuaishou Technology and New Oriental Education & Technology Group Inc. will be added to Hong Kong’s Hang Seng Index and New World Development Co. removed following a quarterly review, according to a statement from the index compiler.

As artificial wave pools proliferate around the world, surf park developers aim to go green to counter criticism over energy and water use.

CapitaLand Investment Ltd., one of Asia’s largest property investment managers, warned of potential losses as it seeks to extricate itself from China’s real estate crisis.

The real estate division of billionaire Tom Steyer’s Galvanize Climate Solutions LLC has made its third acquisition in just over six months, purchasing a New Jersey property as it builds a portfolio of assets targeted for decarbonization.

New York Mayor Eric Adams and the City Council are nearing a deal on a landmark rezoning plan that would spur construction of tens of thousands of new homes amid the worst housing shortage in five decades, according to people with knowledge of the talks.

Canada’s banking and insurance regulator said it expects executives and boards to be accountable for their company culture, and it’s beefing up its rules on how to do that.

Sales of previously owned US homes rose in October by the most since earlier this year, as buyers took advantage of a dip in mortgage rates in the previous month.

Apartment complexes will be the next major source of problems in the commercial real estate market after offices were hit hard in recent years, according to the short seller Carson Block.

Banks were stuck with hundreds of millions of Deutsche Pfandbriefbank AG’s new debt after the company’s first big bond sale since it was caught in the US commercial real estate maelstrom fell flat, according to people familiar with the matter.