Simon Property Group, the largest public U.S. real estate company, is considering raising its $10-billion buyout offer for rival shopping mall owner General Growth Properties Inc. Simon sent a letter to General Growth this week saying it anticipates boosting its offer above that of a proposal put forth by General Growth and three of its largest stakeholders, the people said on condition of anonymity because they were not authorized to discuss the matter publicly. Read more…
Archives for March 2010
FED Pledges Low Interest Rates for "Extended Period"
Federal Reserve officials repeated their pledge to keep the main interest rate near zero for an “extended period” and confirmed that emergency measures to prop up the housing market will end as planned this month. For more on growth outlook and retail sales — Read more…
Small Businesses Want Same Treatment as Large Corporations
Proposed legislation calls for the Small Business Administration to help business owners find willing lenders and, as a last resort, issue the loan directly. While this provision passed a House vote in October, the direct-lending provision has an uncertain future as it awaits consideration from the Senate. Read more…
Lower Delinquency in Commercial Loans
The Mortgage Bankers Association reports that commercial mortgages were among the best-performing loans and leases held by banks and thrifts in the last three months of 2009.
Commercial and industrial loans had delinquency rates of 4.39 percent, followed by commercial mortgages at 5.06 percent.
Construction loans posted the highest delinquency rate at 18.56 percent, followed by single-family mortgages at 12.49 percent.
Source: Associated Press (03/09/10)
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