Archive for Finance
42 KSF Self-Storage Facility Opens in MS
Posted by: | CommentsHernando Self Storage LLC has opened Hernando Self-Storage, a 329-unit state-of-the-art, self-storage facility in Hernando, Miss. Absolute Storage Management will manage the facility, which is the ninth property managed by the firm in the state and the first in Hernando.
Located at 2795 McIngvale Drive, Hernando Self-Storage is less than 30 miles away from Memphis via interstates 55 and 69 and the Memphis International Airport is within 20 miles. The facility, completed in January 2017, comprises 41,545 square feet and occupies 4.3 acres. Hernando Self-Storage is a gated property with drive-up access and has indoor, climate-controlled units. Other services include security cameras, on-site manager and 24-hour access…
Investing in This $480 Billion Market Means Forgoing Bond Yield
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Denmark’s covered bond market, world’s biggest, holds auctions
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Liquidity and cross-currency swaps are the real attractions
Investors in the world’s biggest covered bond market probably won’t get any respite from negative yields this year…
Investing in This $480 Billion Market Means Forgoing Bond Yield
The Walton Family Just Added $10 Billion to Their Fortune
Posted by: | CommentsThe world’s largest family fortune jumped $10 billion on Thursday thanks to a bounce in Wal-Mart Stores Inc. Shares of the retailer were up 8 percent as of 10:10 a.m. in New York after reporting the strongest sales gain in more than eight years. The combined net worth of Alice, Jim, Rob, Lukas and Christy Walton is up about a third in 2017 and is now $160 billion, according to the Bloomberg Billionaires Index…
The Walton Family Just Added $10 Billion to Their Fortune
Bankrupt Manhattan Art Gallery Accused of Defrauding Clients
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Clients allege Chowaiki won’t return cash or paintings
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The gallery’s bankruptcy filing lists debts five times assets
Paintings by Marc Chagall, Wassily Kandinsky and the Italian surrealist Giorgio de Chirico were allegedly used by a New York art dealer to lure investors and collectors into paying hundreds of thousands of dollars for works he never owned or didn’t have a right to sell…
Bankrupt Manhattan Art Gallery Accused of Defrauding Clients
Lynn Tilton Accused of Withholding Funds After Portfolio Defaults
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Allegation comes at court hearing in Manhattan court
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Patriarch lawyer disputes Zohar funds’ claim over secret cash
After being cleared of wrongdoing in a case by the U.S. Securities and Exchange Commission, New York financier Lynn Tilton faces new claims over how she ran her distressed companies in a lawsuit by three funds she once created and managed to raise money for her portfolio…
Lynn Tilton Accused of Withholding Funds After Portfolio Defaults
Brookfield Bids $14.8B for GGP
Posted by: | CommentsSoftBank Plans Up to $25 Billion in Saudi Investments
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Japanese group to invest in new city, Saudi Electricity
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Masayoshi Son has been deepening his ties with the kingdom
SoftBank Group Corp. plans to invest as much as $25 billion in Saudi Arabia over the next three to four years as the Japanese company run by Masayoshi Son deepens investment ties with the kingdom, according to people familiar with the matter…
SoftBank Plans Up to $25 Billion in Saudi Investments
Phillips Edison Buys 100KSF Retail Asset in Florida
Posted by: | CommentsAt Long Last, a Measure of Mezzanine Loans
Posted by: | CommentsIndexes proliferate in financial markets as a way for investors to benchmark investment strategies and manager performance. The commercial real estate market is no different, as there are multiple indexes that measure the performance of public and private real estate, property types, different geographies and investor strategy.
Investor Who Skirted ‘Path to Hell’ Lands a $50 Billion Jet Deal
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William Franke says bare-bones service is winning strategy
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Franke’s Indigo Partners seals largest deal for Airbus planes
At 80 years old, the self-proclaimed father of the ultra-discount airline model is still swinging for the fences, stealing the spotlight at this year’s Dubai Air Show with the biggest order ever placed for Airbus SE commercial aircraft…
Investor Who Skirted ‘Path to Hell’ Lands a $50 Billion Jet Deal
Sonnenblick-Eichner Arranges $35M Financing for SoCal Hotels
Posted by: | CommentsStock Slide Pauses in Asia; Aussie Bonds Advance: Markets Wrap
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Global stocks index is down over the past five trading days
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S&P 500 pares losses, still closes lower; dollar trades flat
The retreat in Asian stocks from historic highs triggered by concerns about outsized gains took a pause on Thursday. Australian bonds climbed after a rally in Treasuries spurred in part by the global equities sell-off…
Stock Slide Pauses in Asia; Aussie Bonds Advance: Markets Wrap
If You’ve Got $5 Million to Invest, Here’s Your Volatility Play
Posted by: | CommentsRick Selvala started Harvest Volatility Management to generate yield by trading S&P?500 options. His ‘iron condors’ can add returns and hedge risks.
Rick Selvala stands up from a conference room table in the Graybar Building above Grand Central Terminal and starts drawing up his play on the glass walls of the office: Sell S&P 500 index call and put spreads. Generate cash flow in a tax-efficient manner. Limit downside and liquidity risk…
If You’ve Got $5 Million to Invest, Here’s Your Volatility Play
A Mortgage Scandal Cost Ireland’s Biggest Lender More Than $200 Million
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New chief McDonagh forced to set aside more cash for crisis
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Layer of executives face questions over role in episode
When Francesca McDonagh arrived to take over at Bank of Ireland Group Plc last month, she flew straight into the biggest storm to hit the organization since the financial crisis…
A Mortgage Scandal Cost Ireland’s Biggest Lender More Than $200 Million
600 Congress in Austin Has a New $7M Lobby
Posted by: | CommentsEndeavor Real Estate finalized a $7 million lobby improvement at 600 Congress, a trophy building located at the corner of 6th and Congress Avenue, in downtown Austin, Texas. The 504,221-square-foot stair step designed property is situated midway between the State Capitol complex and Lady Bird Lake.
Millionaire Bankers Feel Sorry for Struggling Millennials
Posted by: | CommentsMillennials get a lot of press — good and bad — but Credit Suisse reckons they should have our sympathy.
Its Global Wealth Report says those who came of age after the turn of the century have had a “run of bad luck,” and that low wealth tend to be disproportionately found among the younger age groups…
Millionaire Bankers Feel Sorry for Struggling Millennials
Mixed-Use Center Sells for $13M in Chicago Suburbs
Posted by: | CommentsMarcus & Millichap has arranged the sale of Metropolitan Square, a 120,983-square-foot mixed-use grocery-anchored lifestyle center in Des Plaines, Ill. The asset traded for $13 million, or $108 per square foot. The company worked on behalf of the private seller and procured the buyer…
Canada’s Housing Agency Targets Shadow Lenders as Debt Ratios Rise
Posted by: | CommentsCanada’s housing agency is seeking more data on home loans from shadow lenders, amid concern rising levels of debt aren’t being adequately tracked and may increase the risk of financial instability…
Canada’s Housing Agency Targets Shadow Lenders as Debt Ratios Rise
Sweden’s $370 Billion Mortgage Market Gets a New Investment Fund
Posted by: | CommentsAs investors wonder whether Sweden’s housing market is headed for a correction, the country’s first mortgage fund is about to enter the $370 billion Swedish home-loan industry…
Sweden’s $370 Billion Mortgage Market Gets a New Investment Fund
Steve Jurvetson Quits Venture Capital Firm Amid Investigation
Posted by: | CommentsSteve Jurvetson, a founding partner of one of the best-known venture capital firms in Silicon Valley and a board member of Tesla and SpaceX, is leaving the firm after it began an investigation into his behavior with women, the firm told investors on Monday.
“As of today and by mutual agreement, Steve Jurvetson will be leaving DFJ,” said a confidential letter sent to investors in the venture capital firm, Draper Fisher Jurvetson, and obtained by The New York Times…
Steve Jurvetson Quits Venture Capital Firm Amid Investigation
SC Mixed-Use Development Receives $23M Financing
Posted by: | CommentsEyzenberg & Co. has arranged a $22.6 million first-mortgage construction loan for the development of a three-story, 42,000-square-foot entertainment and retail center in Myrtle Beach, S.C. The company advised the borrower, Land South of MB LLC and worked with private lender Gamma Real Estate to arrange the non-recourse, 60 percent loan-to-cost financing. The development is slated for completion by April 2018.
304% Gains Show Buffett-Style Investing Now Works in China
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Yang Yong says his private fund shows how market has evolved
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Former pharma salesman sees slow rally at least into 2018
One of Yang Yong’s stock funds surged 304 percent in a year by investing in a handful of China’s largest companies — and he says that’s a sign of how far the market has come…
304% Gains Show Buffett-Style Investing Now Works in China
The World’s Biggest Video Game Skins Site Raised $41 Million With Crypto Tokens
Posted by: | CommentsOPSkins, a marketplace for rare Counter-Strike guns, has built an exchange that runs on cryptocurrency.
Sam Alexander has spent days at a time in front of the three giant monitors hooked up to his PC, comparison-shopping for “skins,” decorations for virtual guns and knives. In games such as the popular shooter Counter-Strike: Global Offensive, the most sought-after skins confer the kind of prestige that a Rolex watch or Hermès bag would on the street—and can sell for more than $100,000 in real-world cash. But because there are dozens of skins marketplaces online, it can be tough to tell if you’re getting the lowest price; people like Alexander have made a brisk business comparison-shopping on behalf of rich clients. Alexander, 21, says he’s earned “more than an average person makes in a year” from commissions he negotiates with each buyer…
JPMorgan Says Family Awarded $8 Billion Deserves Nothing
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ank says law and evidence don’t support Dallas jury’s verdict
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Lender was found to have mismanaged airline executive’s estate
JPMorgan Chase & Co. urged a judge to throw out a stunning $8 billion jury verdict over a mismanaged inheritance, saying the family deserves nothing…
Brandywine Breaks Ground on $3.5B Philly Project
Posted by: | CommentsBrandywine Realty Trust, in partnership with Drexel University, has begun construction on the first project of the $3.5 billion mixed-use, master-planned Schuylkill Yards, a 14-acre development in West Philadelphia. Drexel Square, a 1.3-acre community park, will be built at the corner of 30th and Market streets with completion set for late 2018…
Kronos HQ in MA Trades for $12M
Posted by: | CommentsFollowing its continued expansion, Digital Federal Credit Union (DCU) has purchased the former Kronos Inc. headquarters in Chelmsford, Mass. According to public records, the firm acquired the asset for $12.4 million and will use it as an additional administrative building. Kronos disposed of the facility as part of its relocation to Cross Point in Lowell, Mass.
Located at 297 Billerica Road, the 129,000-square-foot, three-story building features a state-of-the-art data center, outdoor grilling and seating, training rooms, in-house café and locker rooms with showers. According to Yardi Matrix, it was built in 1999 and includes 484 parking spaces…
Balfour Beatty Lands $581M Contract in Texas
Posted by: | CommentsBalfour Beatty landed a contract with the Texas Facilities Commission to serve as the construction manager-agent for the first phase of the State of Texas Capitol Complex Master Plan, a $581 million office and promenade project in Austin.
Bitcoin Jesus Praises New Coin After $7 Million Wager Falls Through
Posted by: | CommentsThe man known as Bitcoin Jesus feels like a winner even though he wasn’t able to collect $7 million from a wager with other cryptocurrency evangelists over the success of a now canceled offshoot of bitcoin…
Bitcoin Jesus Praises New Coin After $7 Million Wager Falls Through
Uber Approves SoftBank’s Multi-Billion Dollar Investment Offer
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Uber, investors close in on sale of up to $10 billion in stock
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Benchmark agrees to put suit against Uber co-founder on hold
Uber Technologies Inc. approved SoftBank Group Corp.’s offer to buy a multibillion-dollar stake in the ride-hailing company, setting the stage for one of the largest private startup deals ever…
Uber Approves SoftBank’s Multi-Billion Dollar Investment Offer
Manhattan Tower Lands $479M Construction Financing
Posted by: | CommentsA joint venture between Cove Property Group and an institutional partner has received $479 million in construction financing to redevelop Hudson Commons, a 25-story, 701,364-square-foot trophy office building in the Hudson Yards/Penn Plaza submarket of Manhattan.
HFF arranged the financing through investment funds managed by affiliates of Apollo Global Management, including Apollo Commercial Real Estate Finance Inc…
Dissecting the $250 Billion China Deals Trump Got for U.S.
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Pacts include imports to China spanning helicopters to beef
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Many agreements are tentative, involve existing partnerships
Get the latest on our coverage of Trump in Asia and the world leaders’ meeting in Vietnam in your inbox daily. Sign up here…
Dissecting the $250 Billion China Deals Trump Got for U.S.
TN Plastic Manufacturer Plans $42M Expansion
Posted by: | CommentsM&M Industries, a manufacturer of plastic containers, will embark upon a major expansion in Chattanooga, Tenn. The company plans to invest more than $42 million and create 110 jobs in Hamilton County, during the next few years.
Headquartered in Chattanooga, M&M intends to purchase and retrofit a building at 1435 E. 14th St. and also extend its current manufacturing facility at 316 Corporate Place to support a growing demand across M&M’s product lines. The two facilities are within a 15-minute drive from each other and provide easy access to Interstate 24…
Exploring Christie’s Vault, Jam-Packed With $200 Million in Art
Posted by: | CommentsWestbrook Buys DC-Area Office for $72M
Posted by: | CommentsAn entity controlled by Westbrook Partners acquired Two Liberty Center, a nine-story office building in Arlington, Va. The Class A asset was sold for $72 million, free and clear of any debt, by an entity controlled by the Fred Schnider Investment Group.
The building was constructed in 2007 and is part of the 2.2 million-square-foot Liberty Center mixed-use development. Located at 4075 Wilson Blvd., in Washington D.C.’s Ballston neighborhood, the asset features nine-foot ceilings, four sides of window line, a rooftop terrace and 20,000 square feet of flexible floorplates. It is LEED Silver certified…
NYC’s One Vanderbilt, Manhattan West Towers Snared by $76 Million Union Spat
Posted by: | CommentsTwo of New York’s most significant construction projects — Manhattan West, where Amazon.com Inc. will have offices, and One Vanderbilt, destined to be among the city’s tallest buildings — are both ensnared by a $76 million labor dispute.
Both projects, managed by AECOM-Tishman, have “numerous issues” due to a union problem, according to a Wednesday bankruptcy filing by one of their contractors. One Vanderbilt, currently a steel skeleton hulking over Grand Central Terminal at the corner of 42nd Street, developed with SL Green Realty, is estimated to have total construction costs of $3.17 billion…
NYC’s One Vanderbilt, Manhattan West Towers Snared by $76 Million Union Spat
Venezuela’s PDVSA Makes $1.1 Billion Overdue Bond Payment
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‘I’m here doing cartwheels,’ says bondholder Ray Zucaro
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Venezuela still behind on more than $500 million of payments
Venezuela’s state oil company came through with an overdue $1.1 billion principal payment, sending another signal to investors that the cash-strapped country intends to stay current on its obligations even as it seeks debt relief…
Stream Tapped to Lease Dallas-Area Industrial Facility
Posted by: | CommentsMorgan Stanley selected Stream Realty Partners to lease Eagle Park 20/35, a 454,408-square-foot industrial facility in DeSoto, Texas.
The property, located at 1240 Centre Park Blvd., was completed last year and features 114 trailer stalls, 109 dock doors and four drive-in ramps. The building also includes more than 200 parking spaces. Eagle Park 20/35 sits on 29.5 acres just off Interstate 35E and 11 miles from UP Dallas Intermodal Terminal and BNSF Intermodal. The facility offers convenient access to Interstate 20, Eagles Nest Estates Airport and Dallas South Port Airport…
Wall Street Is Fighting a CFPB Deal Over Billions in Defaulted Student Loans
Posted by: | CommentsFaulty practices by debt collectors spur calls for a massive audit. But America’s securitization industry warns there may be consequences for future borrowers.
It seemed like the kind of case regulators had resolved countless times before: Debt collectors are accused of using flawed documentation and lawsuits to collect unpaid loans. A fine is levied, a promise to reform is made, and everyone moves on…
Wall Street Is Fighting a CFPB Deal Over Billions in Defaulted Student Loans
Nigerian Lawmakers Absolve MTN in Funds Repatriation Probe
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Senators want Stanbic IBTC censured by the central bank
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No evidence found that MTN had committed a crime, report says
Nigerian lawmakers investigating allegations of illegal repatriation of almost $14 billion by MTN Group Ltd.’s local unit found the company hadn’t violated the law…
Nigerian Lawmakers Absolve MTN in Funds Repatriation Probe
Tech Startup or Real-Estate Broker? Fidelity Values Compass at $2 Billion
Posted by: | CommentsThe business depends on old-fashioned realty agents but hopes software can make it stand out.
A New York startup called Compass is persuading investors that it can reshape the home-buying process through the use of technology. A dashboard showing neighborhood data and a Pinterest-like app for organizing home listings would make real-estate agents more productive and therefore, more profitable, the company says. The pitch caught the attention of Fidelity Investments, which made a rare bet on a private company, valuing the business at $1.8 billion, Compass said on Wednesday…
Tech Startup or Real-Estate Broker? Fidelity Values Compass at $2 Billion
Matan Buys 10-Acre NoVa Industrial Site
Posted by: | CommentsMatan Cos. purchased a second industrial site in Dulles, Va. The 10-acre asset is located adjacent to the company’s spec warehouse building, already under development. Construction at the newly acquired site will begin in April 2018. The company plans to develop both to Class-A standards and top off the Dulles North Industrial Park project by December 2018.
Poor Housing Investment Gets Worse in Tax Plan
Posted by: | CommentsOne of the more scrutinized parts of the House Republicans’ tax plan is the proposal to reduce the mortgage-interest deduction. Taxpayers can now deduct interest on mortgages of up to $1 million. The proposal would reduce the cap to $500,000.
A lot has already been written about the policy implications of such a move. It’s also worth asking, however, how it would change the financial case for owning a home. National Economic Council Director Gary Cohn told Bloomberg on Friday that the ability to deduct interest “is not what drives you to buy a house.” But it should…
Poor Housing Investment Gets Worse in Tax Plan
The $750 Million Magnesium Deal That Came Up $750 Million Short
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West High Yield says buyer failed to pay $500,000 deposit
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Canadian explorer in talks to resume trading of shares
It was one of 2017’s mega mining deals. And then it wasn’t…
The $750 Million Magnesium Deal That Came Up $750 Million Short
UPMC to Build Pittsburgh Hospitals for $2B
Posted by: | CommentsUPMC wants to take patient care in metropolitan Pittsburgh to a new level with the development of three state-of-the-art hospitals. The health-care provider will invest $2 billion to open the UPMC Heart and Transplant Hospital, UPMC Hillman Cancer Hospital and UPMC Vision and Rehabilitation Hospital. The facilities will total more than 1.6 million square feet.
Former N.Y. Pension Fund Manager Admits Taking Bribes
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Navnoor Kang faces as long as 21 years in prison for fraud
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Lawyer says Kang accepted responsibility with guilty plea
A former portfolio manager of New York’s main pension fund admitted he accepted gifts that included luxury watches and tickets to concerts in exchange for steering state business to brokerages…
Trump Team Plans $250 Billion in Deals From China Visit
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Ross unveiled number at meeting of chief executives in Beijing
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Energy sector expected to reap benefits from U.S.-China talks
The White House expects to announce upwards of $250 billion in business deals in China this week, an administration official said — exactly the sort of U.S. jobs-based diplomacy that President Donald Trump likes to deliver when traveling abroad…
Trump Team Plans $250 Billion in Deals From China Visit
CBRE Global Investors Closes Asia Value-Added Fund
Posted by: | CommentsCBRE Global Investors has closed an Asia value-added fund focusing on logistics assets, with equity investments totaling $1 billion.
The Los Angeles-based global real estate asset investment management firm noted 21 institutional investors in the Americas, Asia Pacific and EMEA invested in CBRE Asia Value Partners IV, including equity commitments to the fund and its co-investment vehicles…
Williams Partners Cleared to Resume Work on $3 Billion Gas Pipeline
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Appeals court lifts stay on construction of Atlantic Sunrise
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Gas driller and would-be shipper Cabot had plunged on the stay
Williams Partners LP was cleared by a federal court to resume construction on a $3 billion pipeline that will help shuttle shale gas across the eastern U.S…
Williams Partners Cleared to Resume Work on $3 Billion Gas Pipeline
Stock Market Has Message for Firms Facing $730 Billion Tax Haul
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Companies that focus on capital spending outperforming
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Those spending on buybacks, dividends have fallen out of favor
There’s little doubt that American companies stand to reap a windfall if the Republicans pass tax cuts. Going by recent history, investors have a preference for what to do with the extra cash — more spending on plants and equipment and less on stock buybacks…
Stock Market Has Message for Firms Facing $730 Billion Tax Haul
W.P. Carey Appoints New CEO
Posted by: | CommentsFollowing the retirement of Mark DeCesaris, non-traded real estate investment trust W.P. Carey has promoted Jason Fox as its newest CEO, effective Dec. 31. Fox will also join the company’s board of directors.
“Jason’s expertise and tenure as head of the company’s global investments team uniquely positions him to lead W. P. Carey well into the future. Importantly, Jason’s appointment reflects the company’s investment-centric culture and ensures both continuity and stability going forward,” W.P. Carey Chairman Benjamin Griswold said in a prepared statement…
IPO Undone by $1.8 Billion Pact Is a Lesson in Danish History
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Pension funds to buy combined 3 stakes for 11.6 billion kroner
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Nykredit had been on track to do an IPO early next year
It was supposed to be the biggest initial public offering of a Nordic bank in over two decades…
IPO Undone by $1.8 Billion Pact Is a Lesson in Danish History
Hedge Funds Are Having Their Best Year Since 2013
Posted by: | CommentsHedge funds are headed for their best year since 2013 thanks to a gravity-defying stock market…
Hedge Funds Are Having Their Best Year Since 2013
Marcus & Millichap Arranges Loan for FL Hotel Buy
Posted by: | CommentsMarcus & Millichap Capital Corp. arranged a $15.9 million loan for the acquisition of two hotels located in Apopka, Fla. The assets—a Hampton Inn & Suites and a Holiday Inn Express & Suites—changed hands for $17.1 million.
“The sale underscores the strength of the Orlando hospitality market, where high average daily rates and revenue per available rooms are attracting the interest of experienced hospitality property investors. The price was based on the outstanding performance of the hotels plus the potential upside the improvements will bring,” said Ahmed Kabani, first vice president of investments with Marcus & Millichap, who represented the seller and procured the buyer…
U.K. House Prices Rise Even as Confidence Drops to Five-Year Low
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Prices increase 2.3% in three months through October
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Halifax says BOE rate hike unlikely to be a barrier to buying
U.K. house-price growth accelerated in the last three months, reflecting the continued imbalance of supply and demand in the property market…
U.K. House Prices Rise Even as Confidence Drops to Five-Year Low
Oprah Has Made $300 Million From Weight Watchers’ Rally
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Shares surge again after rising nearly fourfold this year
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Media mogul has made almost $300 million in potential profit
Weight Watchers International Inc.’s improbable rally has fresh momentum…
Weight Watchers International Inc.’s improbable rally has fresh momentum.
Commonwealth Bank First-Quarter Profit Rises as Bad Debts Fall
Posted by: | CommentsCommonwealth Bank of Australia first-quarter earnings rose as bad debt charges declined…
Commonwealth Bank First-Quarter Profit Rises as Bad Debts Fall
Capital One Exits Mortgage Origination Business, Cuts 1,100 Jobs
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Company eliminating 905 roles related to unit closure
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Home-lending business was ‘structurally disadvantaged’
Capital One Financial Corp. will stop originating mortgage and home-equity loans after competition made it difficult for the businesses to be profitable…
Capital One Exits Mortgage Origination Business, Cuts 1,100 Jobs
Some Value Funds Are Stuffed With Cash as Stocks Surge
Posted by: | CommentsEventually the market will slump, managers say, and they’ll be ready to scoop up the bargains. Meanwhile they’re sweating it out.
Charles de Vaulx knows keeping 40 percent of his fund in cash is hurting results. But as far as he’s concerned, there aren’t many stocks to buy. “Being fully invested has zero appeal right now because stocks are so expensive,” says de Vaulx, whose $8.3 billion IVAWorldwide Fund trails the MSCI All-Country World Index by a big margin this year. “We are willing to underperform while the party goes on.”…
Some Value Funds Are Stuffed With Cash as Stocks Surge
A Gas Driller That Wilbur Ross Once Tried to Save Is Exploring Bankruptcy
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Exco says it’s considering bankruptcy as option with advisers
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Ross heavily invested in the driller before becoming secretary
Exco Resources Inc., the natural gas driller that investor Wilbur L. Ross tried to help rescue before he became U.S. commerce secretary, is considering bankruptcy…
A Gas Driller That Wilbur Ross Once Tried to Save Is Exploring Bankruptcy
Chesapeake Lodging Trust to Sell $46M Minneapolis Hotel
Posted by: | CommentsChesapeake Lodging Trust has entered an agreement to sell The Hotel Minneapolis, Autograph Collection, a 222-key property located in downtown Minneapolis for $46 million or $207,000 per key. The Trust acquired the asset back in 2012 for the same price…