_Economy and Finance

Deutsche Bank slashes price tag for two Macklowe buildings December 09, 2008 05:12 PM By David Jones As pressure mounts to close the books on the Harry Macklowe foreclosure saga, Deutsche Bank has lowered the price tag for 1540 Broadway and Worldwide Plaza to $800 million, according to financial and legal sources familiar with the discussions. http://therealdeal.com/blog/2008/12/09/deutsche-slashes-price-tag-for-two-macklowe-buildings-2/

Frankfurt office market: A safe stopover landing despite turbulence 2 Oct, 2008, Frankfurt In the third quarter, the Frankfurt office market looked to be virtually unshaken by the turbulence in the global financial markets. In the first nine months of the year, a total of 385,000m² of office space was leased, almost a third of this (120,000m²) in the third quarter – an excellent result in view of the current situation. However, it is still clear that lease activities in the Frankfurt market have fallen by 9.4% in relation to the first three quarters of 2007 (first to third quarter of 2007: 425,000m²). http://www.cushwake.com/

Dresdner takeover could spell bad news for Frankfurt's office market Date: 8 September 2008 Commerzbank's acquisition earlier this month of rival Dresdner Bank from insurer Allianz for EUR 9.8 bn will not only shake up Germany's financial landscape but could also cast a shadow over Frankfurt's office market. http://www.propertyeu.info/index-newsletter/dresdner-takeover-could-spell-bad-news-for-frankfurts-office-market/

http://www.wilkinsonwilliams.co.uk/ LaSalle Acquire Tesco Foodstore Adjacent Oxford Shopping Park HSBC, a client fund of LaSalle Investment Management acquired the Tesco supermarket adjacent to its existing Oxford Shopping Park for a price of £35.959m reflecting a net initial yield of 4.9%, an equated yield of 5.6% and a reversionary yield of 7.81% based upon the assumed RPI uplifts throughout the term from Tesco. The property is let to Tesco Stores Limited with a guarantee from Tesco PLC for a period of 20 years from completion subject to a tenant’s option to extend the term for up to an additional 30 year term at a rent equating to £25.00 per sq ft. The supermarket extends to approximately 65,000 sq ft together with surface car parking for 510 customer cars. Wilkinson Williams acted for LaSalle.

Frankfurt property market in freefall BY EDWARD HARRISON / ON 26 AUGUST 2008 AT 13:00 / As far back as May, I had warned that commercial property was destined for a bust — collateral damage in the real economy. In particular, I mentioned the U.S. commercial real estate (CRE) market as a particular problem for local and regional banks, which have large exposure to the CRE market. In May, I also mentioned incipient declines in the London commercial property market. http://www.creditwritedowns.com/2008/08/frankfurt-property-market-in-freefall.html

http://www.guardian.co.uk/business/2008/aug/22/tesco.supermarkets Tesco sells 13 stores and a depot for £600m to fund expansion plans · Deal is part of five-year plan to raise £5bn · Properties leased back with rents linked to RPI Julia Finch, City editor The Guardian, Friday 22 August 2008 Tesco is selling 13 stores and a depot to raise cash to fund expansion. The supermarket group has agreed sale and leaseback deals with property investors to raise more than £600m to fund growth.

http://www.redorbit.com/ Russian Oil Companies to Use New Reserve Classification From 2009 – Trutnev July 11, 2008 ARKHANGELSK. July 11 (Interfax) – Russian oil companies will move to a new oil reserve classification beginning in 2009, Natural Resources Minister Yury Trutnev said.

http://www.studley.com/research-documents-search-results.htm?l=San Francisco Market Boundaries - San Francisco PDF map showing definition of market boundaries as used in reports http://www.studley.com/research-documents-search-results.htm?l=San Francisco

Business Fuel from Algae A startup's new process could make fuel from algae as cheap as petroleum. Friday, February 22, 2008 By Kevin Bullis Green fuel: A startup has developed a method for converting the algae shown here into fuel. Solazyme

February 1, 2008 Real-Estate Credit Crisis Squeezes Macklowe BY JENNIFER S. FORSYTH New York real-estate titan Harry Macklowe has reached a tentative agreement with his lender to turn over effective control of seven Manhattan office buildings he acquired less than a year ago for $7 billion, according to people familiar with the matter. http://online.wsj.com/article/SB120181345769733089.html

Jersey Property Unit Trusts January 2008 Unit Trusts A Unit Trust is a legal structure where the legal ownership of trust assets is held by a Trustee on trust for the benefit of unitholders. Unit Trusts may be established in Jersey subject to the provisions of the Trusts (Jersey) Law 1984. Under Jersey law, a Unit Trust must be constituted by a written trust instrument. The Unit Trust instrument sets out the terms on which the Trustee holds the Unit Trust assets.

From http://www.novatek.ru/eng/news_center/clas/ Russian Classification of Reserves The estimation of reserves of natural gas, gas condensate and crude oil can be broken down into two components: (i) geological reserves, or the quantities of natural gas, gas condensate and crude oil contained in the subsoil and (ii) extractable reserves, or the portion of geological reserves whose extraction from the subsoil as of the date the reserves are calculated is economically efficient given market conditions and rational use of modern extraction equipment and technologies and taking into account compliance with the requirements of subsoil and environmental protection.

Blls and coins Description Clipart of bills and coins Date January 16, 2008 Source Wikimedia Commons Author Unknown (original PNG). This vectorization by Mysid Camera location . Permission Public Domain Licensing The copyright holder of this work has released this work into the public domain. This applies worldwide. In some countries this may not be legally possible; if so: The copyright holder grants anyone the right to use this work for any purpose, without any conditions, unless such conditions are required by law. From Wikimedia Commons http://commons.wikimedia.org/

Harry Macklowe’s $6.4 Billion Bill By CHARLES V. BAGLI and TERRY PRISTIN Published: January 6, 2008 IN August 2003, Harry B. Macklowe raced from lender to lender to round up a record-breaking $1.4 billion to buy the General Motors Building, the 50-story commercial skyscraper in Midtown Manhattan that is one of New York’s trophy properties. http://www.nytimes.com/2008/01/06/business/06harry.html