"After Brushes With Death, Real-Estate Firms Rebound
By WILLIAM BOSTON | SPECIAL TO THE WSJ | Only a few months ago, many of Europe's listed property companies seemed headed for a train wreck. But now there is almost daily news to confirm the industry is returning to health.
Nowhere is the change in the economic climate clearer than in the U.K., where property values have plummeted more than 40% since the peak. The market there is now showing tender shoots of growth.
The latest signs of a turnaround in the U.K. came Tuesday, when Minerva PLC, the U.K. development company, revealed it had restructured £812 million ($1.32 billion) of debt, and Land Securities Group, the largest U.K. real-estate investment trust, said it had paid back £1.5 billion of debt ahead of schedule."
More in article but its about specific companies.
AEZ Price at posting:
6.9¢ Sentiment: LT Buy Disclosure: Held
