LONDON-Upward price trends in the UK realty market led to increased sales of troubled commercial assets by creditors and banks, as sellers considered the price increase trend to be short-lived. About 64 deals worth $2.72 billion (GBP1.71 billion) have been finalized in 2010 compared to $3.04 billion (GBP1.91 billion) worth deals in the whole of last year.
Bank sales accounted for 13% of all property deals in 2010. Last year, it was only 7.5% of all transactions. For the full story, go to the Wall Street Journal.
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
