The North American Free Trade Agreement (NAFTA), which liberalized trade restrictions among Canada, Mexico and the US, went into effect on January 1, 1994 despite fierce opposition from American labour unions, Mexican farmers, Zapatista revolutionaries and an outspoken US presidential candidate—Texas billionaire Ross Perot infamously remarked that NAFTA would create a “giant sucking sound” as American jobs were lost to cheaper labour south of the border. More than a decade later, it seems those anxieties were misplaced. Domestic workers had much more to fear from the Far East than they ever did from Mexico.
Magic Mountain, the famed Los Angeles-area theme park, may soon be converted to a retail and residential development.
Condo developers are using all sorts of enticements to lure buyers including, in one Brooklyn development, former NBA star John Starks.
The Morristown, New Jersey-based opportunistic investor expects the fund, which has $600 million in buying power, to be fully invested within the next year.
A blogger in China is taking on the powers that be, urging local Shenzhen residents to boycott the real estate market.
GI Partners, a trans-Atlantic private equity firm, has raised $1.45bn from investors including CalPERS, ATP and Abu Dhabi Investment Authority.
Beirut-based Corporate Finance House has announced a first close for its new property fund focused on the Middle East.
The infusion will fund completion of Mills Corp’s troubled Xanadu entertainment and shopping complex, which is now expected to cost $2 billion, two-thirds higher than the original projection.
The Minneapolis landmark, once a backdrop for the opening credits of The Mary Tyler Moore Show, fetched $277m in one of two large deals for high profile Twin Cities’ buildings.
The British private equity real estate firm is offloading the rights to develop a shopping center in Sweden’s capital as it continues its sales spree.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: