Mamoru Kohda, who scouts the globe for properties for Japan’s Daisho Co., began looking for a hotel in Singapore in early 2013. Within a year, the property investor and developer had acquired the newly opened Westin in the island-state’s financial district for a record price.
California’s Assembly passed limits on long-term bonds that have saddled school districts with debt of as much as 10 times the principal after financing new classrooms in years of slumping property values.
Christine Reid punched the air when she heard Britain plans to tear up the limits on what people can do with their pension savings. Instead of relying on a “paltry” income, she can now invest in property.
California capped the total interest costs on capital-appreciation bonds issued by school districts at four times the amount borrowed to rein in the financing method that Treasurer Bill Lockyer called “abusive.”
Pacific Investment Management Co. was replaced by TCW Group Inc. as the manager of a $1.3 billion bond fund offered by Columbia Management Investment Advisers LLC, as the world’s biggest bond firm reorganizes management and faces client redemptions.