Blackstone Group LP’s Brixmor Property Group Inc., the second-largest owner of U.S. neighborhood shopping centers, plans to spend about $300 million to redevelop properties, its chief executive officer said.
Creditors of Battersea Power Station asked a court to put the landmark property’s owner into administration the day after U.K. Chancellor of the Exchequer George Osborne backed a London Underground extension to boost the area’s development.
Blackstone Group LP’s $9.4 billion purchase of Centro Properties Group ’s U.S. malls is the latest sign that Australian real-estate investment trusts are eliminating debt from the takeover boom that started in 2005, cutting the cost of insuring against defaults to a 10-month low.
The new head of Australia’s financial markets watchdog intends to “crack down” on unfair disclosures that cause sudden changes in stock prices, and require company directors, auditors and bankers to ensure fair and open markets.
Movie rental chain Blockbuster Inc. may be running out of cash or might liquidate, if papers filed last night by the landlords for 38 stores are correct. Or, Blockbuster may be on the cusp of another round of store closings.
Blackstone Group LP is considering an initial public offering of its Brixmor Property Group shopping- center unit by year’s end, taking advantage of a stock-market rally as it starts to sell real estate assets.