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Photo by Shutterstock. WeWork’s network is vast. The company has more than 500 locations in 87 cities, across 23 countries. In the US, the firm controls 15.7% of coworking space, according to Constantine Valhouli, co-founder and director of Research at NeighborhoodX. But in some markets, that number is much higher. In New York, WeWork controls
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Ryan Schneider, Realogy’s CEO and president MADISON, NJ—SIRVA Worldwide, Inc. of Chicago has reached a definitive agreement to acquire Cartus Relocation from locally-based real estate services firm Realogy Holdings Corp. for $400 million. SIRVA is a portfolio company of investment funds managed by Madison Dearborn Partners, LLC, a private equity firm based in Chicago. The
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The Terraces homes, by William Lyon Homes, inside the ThreeSixty at South Bay development in El Segundo, Calif. Jay L. Clendenin | Los Angeles Times | Getty Images Arizona-based Taylor Morrison, the nation’s seventh-largest homebuilder by revenue, said Tuesday it will buy William Lyon Homes, a California-based builder with a large footprint in the Pacific
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Chris Roach Shopping is, for the most part, discretionary. But everyone’s got to eat, which is perhaps the simplest reason why the food and beverage (F&B) industry is the hottest subsector of retail real estate. Not surprisingly, a closer look at trends reveals other factors driving F&B’s ascendency, and the overall picture becomes more complicated
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[embedded content] Airbnb co-founder and CEO Brian Chesky will speak Wednesday at The New York Times DealBook Conference in New York City. He will likely address expectations that the company will seek an initial public offering next year. He’s also likely to speak about increasing regulatory scrutiny of Airbnb after Jersey City voters elected Tuesday
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From left, Cushman & Wakefield’s West Region president Andrew McDonald, C&W’s Global president John Forrester, ASPIRE co-chair Hanna Kim Yoon and ASPIRE co-chair Annie Canada. CHICAGO—Locally-based national commercial real estate services firm Cushman & Wakefield reports it has launched the company’s Asian and Pacific Islander employee resource group. The new employee resource group— Asians and
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Anthony LoPinto Technology is advancing at warp speed on so many fronts. For example, the Apollo 11 computer had a processor which ran at 0.043 MHz. The latest iPhone’s processor is estimated to run at about 2490 MHz. This means that the iPhone in your pocket has over 100,000 times the processing power of the
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711 Seagirt Ave. NEW YORK CITY – Berkadia, a commercial real estate banking and sales firm, has secured $121 million Freddie Mac loan for 711 Seagirt Ave., a 917-unit high rise multifamily property in Rockaway, Queens. Meridian Capital Group arranged the transaction. Property financing through Freddie Mac includes a 10-year term with five years for
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Quinn Palomino Opportunity Zones aren’t a magic bullet to solve all of an area’s ills or help floundering deals start penciling out. But Quinn Palomino, CEO of global private equity firm Virtua Partners, argues that they have changed the vernacular among investors. “It is incredible transformational tool and it’s a tool that’s helped change the
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Photo by Shutterstock MIAMI—There is a wave of investors who are currently selling their New York-based properties to invest in the South Florida area. Why? Mainly because of the recent rent control law and its negative impact on returns on investments. It has been estimated, for example, apartment property values dropped 20%-30% as soon as
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CNBC’s Jim Cramer on Friday recommended investors treat any near-term pullback in the homebuilding stocks as a buying opportunity. Citing a recent research note from Zelman & Associates, the “Mad Money” host believes there is more upside in the sector, pointing to the stocks of D.R. Horton, Lennar, Toll Brothers and Taylor Morrison. “Ivy Zelman
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Photo by Shutterstock NEW YORK—New Senior Investment Group has struck a deal to sell its entire assisted living and memory care portfolio for $385 million. The company expects the deal to close in the first quarter of 2020, subject to customary closing conditions. The AL/MC portfolio includes 28 properties across 14 states and consists of
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As wildfires rage through western California, a new way to help prevent them is now being tested in nearby Tahoe National Forest. It is a first-of-its-kind financial tool, designed to help investors fund forest restoration in overgrown, highly combustible areas, which are becoming ever more dangerous due to climate change. The Forest Resilience Bond was
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