_Economy and Finance

Worldwide Plaza for sale May 27, 2009 09:00 AM Worldwide Plaza, the last piece of Macklowe Properties’ portfolio, is for sale. The lender in control of the 1.7 million-square-foot building, Deutsche Bank, wants to retain an ownership stake, but is also prepared to write down the current $1.02 billion in outstanding principal to an $800 million mortgage. The buyer of the building at 825 Eighth Avenue, at 50th Street, is expected to contribute $200 million in equity, and the deal would be valued between $300 and $350 per foot. The leading potential buyer, according to the Post, is George Comfort & Sons. According to CoStar Group, 639,540 square feet is available in the building. http://therealdeal.com/blog/2009/05/27/worldwide-plaza-for-sale-macklowe-deutsche-bank/

IGD Siiq opens new mall in Catania Date: 4 May 2009 Category: City Watch Italy's IGD Siiq said on Monday that its Katanè shopping centre will open its doors on Tuesday in the Sicilian city of Gravina, near Catania. The mall, with a total of 15,000 m2, houses 70 stores and six larger shops and an 8,000 m2 hypermarket owned by Ipercoop Sicilia. IGD invested a total of EUR 59 mln in the project. The mall is fully rented. http://www.propertyeu.info/index-newsletter/igd-siiq-opens-new-mall-in-catania/