Cousins, the Atlanta-based REIT, bought Promenade Two, an Atlanta building in November that was 58 percent leased when it purchased it after its anchor tenant moved out.
Singapore property and construction firm BBR Holdings Ltd had expected strong demand for the luxury flats, but is now struggling with sales after the city-state introduced measures aimed at curbing demand from foreign buyers.
The economy will grow at least 8 percent over the next decade as growing domestic consumption and investment in new industries offset the export slowdown, according to Carlyle Group LP and Leeb Capital Management.
Gross domestic product may rise between 1 percent and 3 percent this year, down from an expansion of 5 percent in 2011, Financial Secretary John Tsang said today in his budget speech. The measures include infrastructure spending, property-rate waivers and tax benefits, he said.
The neo-classical house at 6 Palace Green in Kensington is on one of the city’s few private roads where no passing traffic can enter, Managing Director Louise Hewlett said. The 16,000- square-foot (1,486-square-meter) home is owned by Tamzen Ltd., a closely held company incorporated in the British Virgin Islands, according to the U.K. Land Registry.