U.S. banks increased financing for commercial real estate in the fourth quarter for the first time in almost two years as default rates dropped and lenders shed more foreclosed properties, Chandan Economics said.
U.S. commercial real estate sales in the first half totaled about a quarter of the average of the previous six years as owners kept properties off the market, impeding investors with record funds for purchases.
Amazon.com Inc., which agreed to buy its Seattle headquarters for $1.16 billion, plans to start construction next year on the first of three new buildings that would add another 3 million square feet (278,700 square meters) as technology companies expand and invest in real estate.
Bank of America Corp. and Goldman Sachs Group Inc. are seeking to unload as much as $5 billion in debt left over from the 2007 buyout of Hilton Worldwide, according to people familiar with the negotiations.
Kushner Cos. is seeking to buy American International Group Inc. ’s equity stake in about 17,000 apartments, almost three years after selling the units near the property market’s peak, a person with knowledge of the bid said.