Fidelity Investments real estate manager Steven Buller says in a Morningstar interview that he believes markets are starting to stabilize. Valuations are "trading at a 12% to 15% discount to net asset value. On that basis, things are looking relatively attractive," he said. Buller does, however, warn about higher volatility in real estate stocks.
Target will open four pop-up stores in New York City next week to spotlight fall merchandise by its apparel and accessories designers. Merchandise from three of the designers will be sold in New York a month before a national launch.
South African developer Prosperito expects to open Rosehill Mall, in Port Alfred, South Africa, in three months. The development will include Woolworths, several major clothing retailers, and a movie theater and gym.
LaSalle Investment Management has raised $3 billion for LaSalle Asia Opportunity Fund III. The company's latest real estate fund will focus on investing in Japan, Korea, Hong Kong, Singapore and China.