Saturday, Jan 19, 2008
Nov 2006: Debt-backed buyers are riding high — for now.
Timesonline: Property tycoons who owe billions
Property tycoons who owe billions
Almost unnoticed, they have joined a select clutch of debt-backed private property entrepreneurs — ranging from the flamboyant Nick Leslau and high-living Tchenguiz brothers to the intensely private Leo Noe and publicity-shy Livingstone brothers — who have become super-wealthy over the past five years by taking advantage of low interest rates.
Posted by lvmreader @ 10:47 PM (380 views) Add Comment
3 Comments
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1. drewster said...
Note that the article is over a year old - November 19, 2006. The "entrepreneurs" were invested in commercial property which has now turned distinctly sour, as opposed to residential where the VIs still spin the positive annual figures. I wonder how they are coping today?
2. Orwell said...
As do I Drewster, as do I...
"...borrowing costs have outpaced yields for prime property for the first time since 2000..."
And that was in 2006 you say?
Mmmmmmmmmmmmmmmmmm............. I can see a fair few Commercial Properties on the market shortly...
3. japanese uncle said...
"Tchenguiz" quite a name!
Invasion of the Huns.