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☆ The 4% mortgage rate and other sweet offers from lenders hoping to stave off commercial real estate doom
▼ + stars: | 2024-03-27 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +8 min

Instead a deal is now being negotiated to trim the size of the property's $240 million mortgage and potentially extend the loan at below-market interest rates in an attempt to revive the property's fortunes. The negotiations show that as hundreds of billions of dollars of commercial real estate debts come due or have already tumbled into default, deals are being arranged behind the scenes to try to stave off financial catastrophe. More borrowers and lenders have sought to buy timeThere is mounting evidence that such negotiations are taking place more widely. There have been concerns that trillions of dollars of upcoming commercial property debt maturities could inflict heavy losses that could weigh on investors and lenders across the property market and even cause systemic issues in the banking sector. The deal is part of a growing number of sales by some lenders to cut down their exposure to commercial real estate.

Persons: Realty, Michael Maturo, we'd, Maturo, Jack Terzi, Terzi, Jamie Woodwell, Stephen Buschbom, Trepp, Alan Todd, David Blumberg, Raymond Boyd, Blumberg, Robert Ivanhoe, Greenberg Traurig, Ivanhoe Organizations: New, Aareal Bank, Business, JTRE Holdings, Mortgage Bankers Association, Treasury Department, Bank of America, 601W Companies, Aon, Aon Center, Federal Reserve Locations: New York, Lower Manhattan, Manhattan, New York City, Chicago

☆ Bill Gates and Jeff Bezos-backed startup discovers large-scale copper deposit in Zambia
▼ + stars: | 2024-02-05 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

KoBold Metals, a California-based metals exploration company backed by billionaires including Bill Gates and Jeff Bezos, said that it has discovered a vast copper deposit in Zambia. A spokesperson for KoBold Metals told CNBC on Monday that the company believes its Mingomba copper project in Zambia "will be one of the world's biggest high-grade large copper mines." "It is Kakula-scale in size and grade," KoBold Metals President Josh Goldman said in a statement shared on the firm's social media site X. Ivanhoe Mines, a Canadian mining company founded by billionaire magnate Robert Friedland, owns nearly 40% of the Kamoa-Kakula copper mine. KoBold Metals says it uses artificial intelligence to create a "Google Maps" of the Earth's crust to help find new deposits of copper, lithium, cobalt and nickel.

Persons: Bill Gates, Jeff Bezos, Josh Goldman, Robert Friedland, Andreessen Horowitz, Ray Dalio, Virgin Group's Richard Branson, Alibaba's Jack Ma Organizations: KoBold Metals, CNBC, Democratic, Ivanhoe Mines, KoBold, BHP, Breakthrough Energy, Bridgewater Associates Locations: Victoria, Zambia, Zimbabwe, Livingstone, California, Democratic Republic of the Congo, Canadian, Norwegian

☆ Keen on harvesting tax losses? Scotiabank names 10 Canadian stocks as 'prime candidates'
▼ + stars: | 2023-11-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

As the end of the year approaches, investors are likely to be reviewing their portfolios and considering which stocks to sell to harvest tax losses. Tax-loss harvesting is a strategy to offset capital gains tax from stocks that have run up in share price with losses from non-performing stocks. To aid investors, Scotiabank identified several stocks on Canada's TSX Composite index that are down significantly this year but are still rated as "Sector Outperform" by its analysts. "These are prime candidates to keep long-term exposure to despite recent weakness," said Scotiabank analysts led by Hugo Ste-Marie in a note to clients on Nov. 13. Scotiabank pointed out that the top 20 stocks in the S & P 500 index are up significantly this year, while the remaining 480 stocks are showing losses on average.

Persons: Hugo Ste, Marie Organizations: Scotiabank, Stocks, TELUS International, Allied, Trisura, HudBay Minerals, Hudbay Minerals, Capstone, Corp, Ivanhoe Mines, Teck Resources, Tech Locations: Park, Canada, Teck

☆ ULA CEO says inaugural Vulcan rocket launch planned for December
▼ + stars: | 2023-10-24 | by ( ) www.cnbc.com time to read: 1 min

RELATED VIDEOS07:52 ULA CEO says inaugural Vulcan rocket launch planned for December03:56 Royal Philips CEO: We see a strengthening of consumer demand and a upping of confidence04:54 Huntington Bancshares CEO: There's a risk to the economy slowing down as interest rates are up04:29 HPE CEO Antonio Neri: Here's why AI is a big opportunity for us03:05 Advance SF launches 'It All Starts Here' campaign for San Francisco04:13 Ivanhoe Cambridge CEO: We have to be ready for the opportunity the day interest rates stabilize

Persons: ULA, Antonio Neri Organizations: Vulcan, Royal Philips, Huntington Bancshares, San Francisco, Ivanhoe Cambridge

☆ Ivanhoe Cambridge CEO: We have to be ready for the opportunity the day interest rates stabilize
▼ + stars: | 2023-10-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIvanhoe Cambridge CEO: We have to be ready for the opportunity the day interest rates stabilizeIvanhoe Cambridge CEO Nathalie Palladitcheff joins 'Squawk on the Street' to discuss the various opportunities in the United States, how bad the office real estate market is, and more.

Persons: Nathalie Palladitcheff Organizations: Ivanhoe Cambridge Locations: United States

Copper M&A more than doubled in 2002 to $14.24 billion from the previous year, according to an S&P Intelligence report. "So the large miners are saying it is difficult to build new supply, so let's just buy companies," McDonald said. Copper prices have been gradually losing steam since hitting their strongest levels in over seven months in January when optimism abounded about the reopening of China. The lower copper price presents M&A opportunities for Hudbay, Kukielski said, but it will also get "squeezed" if the price of copper falls below $3.50. With lack of large mines up for grabs, he is expecting that large miners will be looking to expand their production by acquiring smaller mines.

Persons: Lundin, Newmont, Stuart McDonald, Taseko, McDonald, Antaike, Peter Kukielski, Kukielski, Minto Metals, Aaron Colleran, Colleran, David Lennox, Divya Rajagopal, Melanie Burton, Denny Thomas, Marguerita Choy Organizations: TORONTO, Reuters, Nippon Mining, Metals, P Intelligence, Taseko, London Metal Exchange, Reuters Graphics Reuters, Hudbay, Japan's Sumitomo Corp, Minto Metals, Yukon, Royal Bank of Canada, Quantum Minerals, Ivanhoe Mines, Capstone, Barrick Gold, Bloomberg News, Barrick, AIC Mines, AIC, Sydney, Thomson Locations: SYDNEY, Toronto, Chile, Vancouver, Arizona, China, Hudbay, Canada, Yukon, Ivanhoe, Australia, Queensland, Melbourne

☆ Ivanhoe Cambridge CEO on return to office and commercial real estate stress
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIvanhoe Cambridge CEO on return to office and commercial real estate stressNathalie Palladitcheff, Ivanhoe Cambridge CEO, joins 'Squawk on the Street' to discuss the state of the global real estate market and corporate real estate stress.

Persons: Nathalie Palladitcheff Organizations: Ivanhoe Cambridge

☆ Big real estate landlords are finally starting to decarbonize, creating an $18 trillion market that this Blackstone portfolio company plans to profit from at every turn
▼ + stars: | 2023-04-03 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +7 min

The Blackstone portfolio company Legence wants to be a one-stop shop for landlords. A Real Estate Board of New York study found that the total penalties could top $213 million. Its ICS became the strategic planner, its CMTA, which designed the first net-zero school in the United States, designed the upgrades, and its Gilbert Mechanical installed the new heating, cooling, ventilation, and lighting hardware. How to do itIt may still be a challenge to coordinate decarbonization processes, which don't come naturally to large-scale real-estate operators, Boland said. Legence plans to grow the business's geographic scope and increase its depth in current markets, including Colorado and California, Sprau said.

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☆ Exclusive: Canada will not retrospectively target Chinese investments in Canadian mining companies, minister says
▼ + stars: | 2023-03-08 | by ( Divya Rajagopal | ) www.reuters.com time to read: +2 min

[1/3] Canada's Minister of Natural Resources Jonathan Wilkinson speaks during Question Period in the House of Commons on Parliament Hill in Ottawa, Ontario, Canada, April 7, 2022. REUTERS/Patrick DoyleTORONTO, March 8 (Reuters) - Canada will not force Chinese state-investors in three of its large mining companies to divest stakes, as such a move would create policy uncertainty, natural resources minister told Reuters. In November, Canada had asked three Chinese companies to sell their stakes in Toronto-listed lithium explorers following a national security review, drawing criticism from the mining industry and raising questions about the future of other Chinese investments in Canadian mining sector. Three of Canada's largest mining companies - Teck Resources (TECKb.TO), Ivanhoe Mines Limited (IVN.TO) and First Quantum Minerals Limited (FM.TO), - count Chinese state-owned enterprises as their biggest single shareholder. This is the first time Canadian government officials have clarified what the future holds for other Chinese investments in the three Canadian mining companies.

But this could present an opportunity to address shortages of homes, property bosses said. "Office buildings need to be converted to residential," said Howard Lutnick, chairman and CEO of New York-based investment firm Cantor Fitzgerald, during a panel discussion. Offices are emptier than official data suggests as most buildings are still generating income for landlords. However, as these rental contracts expire, cities like New York will have a significant number of obsolete buildings, said Christian Ulbrich, CEO of global property consultancy JLL Inc. (JLL.N). Millions of workers were forced to work from home during lockdowns aimed at stalling the spread of COVID-19 in 2020.

☆ Many office buildings are 'obsolete' and need to be converted or die, CEOs of some of real estate's biggest players told world leaders
▼ + stars: | 2023-01-18 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

It's time to face a harsher reality, real estate executives told financial and world leaders at the World Economic Forum's annual meeting in Davos, Switzerland, on Wednesday. The results of flexible work programs have hit the values of older office buildings in cities across the world as office tenants downsize. Sajwani, Palladitcheff, Ulbrich and Cantor Fitzgerald CEO Howard Lutnick all agreed that many office buildings will need to be repurposed or torn down. It's those less attractive places that face multiple challenges of crime and homelessness where the value of office buildings will deteriorate "quite quickly." Office buildings "will become eyesores and they will need to be fixed," Lutnick said.

☆ Fox, News Corp Sign Long-Term Office Leases for Midtown Manhattan
▼ + stars: | 2023-01-04 | by ( Kate King | ) www.wsj.com time to read: 1 min

The exterior of 1211 Avenue of the Americas in Midtown Manhattan, where News Corp and Fox Corp. have renewed leases. Rupert Murdoch ’s media empire is recommitting to Manhattan office space, after News Corp and Fox Corp. each signed long-term leases that will keep the two companies in Midtown for another 20 years. The two separate leases span more than 1.1 million square feet, or roughly equivalent to the company’s current footprint, according to Ivanhoe Cambridge, the Canadian real-estate firm that owns the building at 1211 Avenue of the Americas. The agreement includes renovations to the exterior and interior of the building.

☆ How tech groundbreaker Greg Smithies went from Elon Musk's inner circle to tackling real estate's $18 trillion carbon-emissions problem
▼ + stars: | 2023-01-02 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

Greg Smithies leads the biggest fund focused on the decarbonization of real estate. Smithies has worked on sustainability issues and with Elon Musk's The Boring Company. But Smithies is no stranger to investment-led decarbonization efforts, having tackled the problem for much of his career. "At the end of the day, software isn't going to solve the climate crisis," Smithies said. But above all, he's focused on the money and the potential savings that low-carbon technology can have on real estate.

☆ Resilience is about purpose, says Ivanhoé Cambridge president
▼ + stars: | 2022-12-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailResilience is about purpose, says Ivanhoé Cambridge presidentNathalie Palladitcheff, president and CEO of Canadian real estate company Ivanhoé Cambridge, discusses resilience, and how risk can be assessed in real estate amid volatile market conditions.

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