Zhang Xin’s and Pan Shiyi’s five-part strategy—build a successful business in China, list it on a global exchange, pay out billions of dollars in dividends, set up a family office abroad and buy up foreign real estate—means their fortune is relatively protected while other Chinese billionaires have seen their riches crumble after running foul of President Xi Jinping’s clampdowns.
Meta will return its space at 30 and 55 Hudson Yards to landlord Related Cos., according to people with knowledge of the plans, who asked not to be named because the matter is private.
Companies including Vonovia SE, Land Securities Group Plc and Unibail-Rodamco-Westfield have announced plans to sell large chunks of their portfolios to shore up balance sheets, but rampant inflation and rapidly rising interest rates are deterring deals.
The Wall Street Journal looks at the history of pyramid in Memphis, Tenn., that now houses a massive Bass Pro Shop. The U.S. has seen $71.9 billion in industrial property sales so far in 2022, according to CommercialEdge. These are among today’s must reads from around the commercial real estate industry.
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