• Real Estate

    Expect more defaults from Chinese property developers: Loomis Sayles

    Investors could expect more Chinese property developers to default on bond payments, but troubles in the real estate sector have not spilled over to other industries, an analyst said Tuesday. Financial distress among Chinese real estate firms came to forefront in the last few months as Evergrande and other developers struggled to repay their debt. Evergrande appeared to have averted a default after reportedly remitting funds for an interest payment last week. “Most likely we are going to see more defaults … of these developers,” Bo Zhuang, senior analyst at investment firm Loomis Sayles, told CNBC’s “Street Signs Asia.”  Read  

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  • Real Estate

    These 4 Chinese real estate developers are already in trouble

    Embattled conglomerate Evergrande rattled global markets in September by warning it could default on its huge debts. Since then, more developers have made similar public confessions, unnerving investors and raising fears of contagion across the vast sector. It’s unclear how the crisis will be resolved. The companies could try to restructure their debts and work things out with their lenders. They could also seek bailouts from the Chinese government, but so far Beijing has said little on the issue besides promising to protect homebuyers. The final — and worst — option would be a disorderly series of defaults, which would  

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  • Real Estate

    Sales start for bankrupt developer’s Bay Area real estate empire

    SAN JOSE — An apartment complex in downtown San Jose is slated to become the first property unloaded as part of the auction of the pieces of the real estate empire of a bankrupt developer implicated in a federal fraud case. The first property to find a potential buyer — at a $54.2 million price — is a big apartment building at 138 Balbach St. in downtown San Jose, according to papers filed July 16 with the U.S. District Court in the fraud case linked to bankrupt developer Sanjeev Acharya. Court-appointed receiver David Stapleton is attempting to sell properties owned  

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