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Real Estate: Making the REIT Picks
After a great run, real estate investments have suffered over the past year, with the average real estate mutual fund down 18%, according to Morningstar. David Lee has managed the $2.5 billion T. Rowe Price Real Estate Fund (NASDAQ:TRREX - News) since it opened in October 1997, so he has seen tough times before. In the two years after the fund started, shares of real estate investment trusts (REITs) lost almost 20%, even as the Standard & Poor's 500-stock index raced ahead 50%. "Even my family was calling up saying they were going to disown me," Lee jokes.
Source:(BusinessWeek)
2008-07-02
Treasured New York skyscrapers may be sold to foreign funds
NEW YORK (AFP) - The iconic Chrysler and Flatiron skycrapers may soon join New York's GM Building as landmarks sold in part to Arab or European investors as the weak dollar spurs property grabs in the Big Apple, reports said Friday.
Nations:U.S. Qatar
2008-06-14
Indexes fall on oil's slide, housing weakness
Stocks declined on Monday, pressured by a sell-off in energy shares after oil prices dropped and worries that further evidence of weakness in the housing market could hurt consumer spending.
Nations:Saudi Arabia Qatar People:Ben Bernanke Activities:U.S. Markets
2007-02-12
Blackstone wins control of EOP for $23 billion
Private equity firm Blackstone Group won control of Equity Office Properties Trust (NYSE:EOP) on Wednesday after a majority of the top U.S. office landlord's shareholders accepted Blackstone's cash bid of $23 billion, and rival bidder Vornado Realty Trust (NYSE:VNO) dropped out.
2007-02-07
Vornado sweetens EOP property bid
Vornado Realty Trust moved on Sunday to make its $23.2 billion bid for top U.S. office landlord Equity Office Properties Trust more attractive by offering to pay the cash portion up front.
2007-02-05
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