See All Headlines at GlobalRealEstateNews.com

PREF SELLS RETAIL PORTFOLIO FOR $440 MILLION USD - - At the suggestion of British Land, which serves as an advisor to the closed-end fund, Henderson European Retail Property Fund is selling five retail parks and a 50% share in the funds Spanish shopping center.

SUNWAY CITY SEEDING MALAYSIAN REIT - -  Kuala Lumpur, Malaysia-based Sunway City Bhd, a property developer with extensive holdings, has announced its intention to seed the entire portfolio of retail, commercial and hotel assets into a REIT that will be listed in Malaysia or Singapore by the end of the first quarter of 2008.  After establishment of the REIT, which will be managed by a separate division of Sunway, Sunway City Bhd will then refocus its business on property development.

NARA CAPITAL RECEIVED FAMILY OFFICE SEED MONEY - - Nara Capital, based in Geneva, Switzerland, and begun in October 2007 to offer institutional investors access to New Alternative Hedge fund strategies, has announced it has received a sizeable seed funding from a consortium of European family offices.  The monies will be invested into Nara's first product offering, which will focus on asset-based lending strategies.

PERSHING SQUARE FUND GETS SEAT ON BORDERS GROUP BOARD - - Pershing Square Capital Management, L.P., an activist hedge fund that currently owns 18% of the book and music retailer, Borders, was successful in pushing for one of its partners, Richard "Mick" McGuire, to be named to Borders board of directors.  Pershing's goal is to revise the business activities of the firm to close the gap with industry leader, Barnes and Noble, and raise share values as high as $36 each by the end of calendar 2009.  Borders has indicated there might be a possibility it will sell most of its overseas stores; close nearly half of its U.S. Waldenbooks stores; and begin focusing on book sales on-line.

RAMIUS CAPITAL FOCUSING ON AMERICREDIT - - After being unsuccessful in controlling the future of the Luby's Restaurant chain, the activist hedge fund, Ramius Credit, has now launched an assault on Fort Worth, Texas-based AmeriCredit Corporation, buying more than 2 million shares, which is equal to a 2% stake in the firm.

LEHMAN BROTHERS LEAVING RESIDENTIAL MORTGAGE BUSINESS - - Despite having to take a nearly $40 Million USD charge to earnings to do so, Lehman has announced the suspension of much of Lehman's Aurora Loan Servicing business, which will result in the loss of over 1,300 jobs in calendar 2008, after it had already eliminated almost 2,500 jobs in the same division in calendar 2007.

CREDIT SUISSE IN PRIVATE BANKING EXPANSION MODE - - Credit Suisse has announced intentions to hire nearly 1,000 bankers by the end of calendar 2009, as it boosts its focus on managing money for wealthy clients worldwide.  As of September, 2007, the Swiss bank had about 600,000 wealth-management clients, with a total of 516.6 Billion EUR under management.

US LABOR UNION PROTESTS MID-EAST OWNERSHIP - - The 7.5% ownership a Abu Dhabi-based sovereign fund has in Carlyle may temporarily throw a wrench in the firm's plan to purchase the US government advisory unit of Booz Allen Hamilton.  SEIU, one of the largest US labor unions, has called for government intervention to prevent a so-called threat to national security.  However, it is unlikely that the union's activism will have much effect on the talks between Carlyle and Booz Allen Hamilton, which is a major contractor to several U.S. departments, since the Abu Dhabi government's ownership is relative small, and does not provide any say in the management of Carlyle's portfolio companies.

WIND TURBINE CONSTRUCTION TAX NOT WAIVED - -The French Ministry of Ecology and Sustainable Development has issued an opinion that the basket and technical area in which a man can move about are construction elements of net floor area, which subjects the structures to the local amenities tax.

New Issue:  Free On-line Global Newsletter

 The Agenzia del Demanio, operator of Italy's largest real estate web portal and official government agency for real estate has teamed up with IRETO to produce an English version of their global real estate newsletter.  Real Estate News contains only a small portion of the information available on  a daily basis on the www.demaniore.com  portal and on www.ireto.org website: news, real estates for sale, videos, conferences and events, research & publications and worldwide reports for international real estate professionals all over the world. Global Headline: DUBAI, USD 545 MILLION TENDER FOR TRAM LINE Companies from around the world are competing in a tender for a contract worth USD 545 million to build a new tram line in Dubai, in the United Arab Emirates, which will help solve traffic problems. It was reported by London’s Middle East Economic Digest (MEED),says Gulf News. The Road and Transport Authority of Dubai (RTA) announced in June that it will spend at least USD 20.4 billion in the next five years to create roads, bridges and a metro system, so that the city
keeps-up with its population increase that is expected to double by 2015. Full Issue

Featured Industry Conferences

Always find the complete listings of all conferences in our Google Calendar Format

MonthlyConferences.com

Platinum  Partner

Reader  Tools

Partner, Sponsor or Advertise

Marketing Director: Kamia Taylor   Kamia.taylor@iretomedia.com  

^{IRETO's Global World}

• IRETO

• Global Real Estate Radio

• Monthly Conferences

• Global Real Estate Summits

• Asia Real Estate Report

IRETO is an exclusive international private network of real estate owners, investors, lenders, advisors, brokers, private equity funds, and real estate hedge fund industries. With its peer-to-peer networking programs, exclusive research, forecasting publications, conferences and summits, as well as Global Real Estate Radio, IRETO is the largest and most successful global networking and deal-making organization in the world.

info@ireto.org
Mailing Address:
IRETO 468 N Camden Drive Suite 212 Beverly Hills, CA 90210

Fax:  310-388-3028