REITs increasingly consider senior housing construction

More REITs are willing to finance senior housing construction, statements made during recent quarterly earning calls indicate. HCP is moving into this area, having made a $100 million commitment for five projects. Senior Housing News

Sources: Blackstone raises $10B for real estate fund, eyes $2B more

Blackstone Group has raised more than $10 billion for its newest real estate fund and hopes to raise an additional $2 billion, sources say. The company raised this amount in less than a year, a faster pace than for its previous record of $10.9 billion, which it raised for a real estate fund that closed in March 2008. The Wall Street Journal

First Property readies U.K. commercial property fund

First Property, a fund manager active in Britain and Eastern Europe, plans to launch a U.K. commercial property fund. The Fprop Sterling Income Fund will mimic the firm's strategy for the UK PPP fund, an unleveraged fund nearing full investment that is paying an annual yield of more than 6.4%. CoStar Group

Istithmar World set to finalize $175M refinance for Mandarin Oriental, sources say

The Mandarin Oriental, the five-star hotel that's part of the Time Warner Center in Manhattan, is about to secure a $175 million refinancing package, according to sources. The owner, Istithmar World, the investment arm of Dubai World, is finalizing the deal with the Bank of China. The Wall Street Journal

Economists: Hiring, house building and spending will increase

Business spending, employment and house construction are poised to pick up this year, the National Association for Business Economics said. The group left its forecast for growth of gross domestic product unchanged at 2.4%. The Washington Post/The Associated Press