Archive for Finance

The refinanced portfolio comprises 98.1 percent leased retail centers anchored by grocery stores, including ShopRite, Aldi, Home Depot and more. The loans include 14 fixed- and two floating-rate facilities with terms ranging from seven to 13 years.

Urban Edge Properties, a New York-based shopping center REIT, has refinanced 16 individual, non-recourse mortgages totaling $663 million for 15 Class A retail properties and one industrial in New York and New Jersey. HFF worked on behalf of Urban Edge to secure the 16 separate loans with two CMBS lenders, three life company lenders and one bank. The loans include 14 fixed- and two floating-rate facilities with terms ranging from seven to 13 years.

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Nucor Corp. intends to build a rebar micro mill in Sedalia, Mo. The investment is expected to generate 255 jobs once the facility is operational.

Nucor Corp. plans to build a rebar micro mill in Sedalia, Mo, about 90 miles east of Kansas City, Mo. The project represents a $250 million investment and is expected to be operational in 2019, pending the receipt of final approvals and award of state and local incentives.

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  • Strategist says failed fork cleared room for coming surge
  • Call comes after Novogratz sees coin at $10,000 by January

The bitcoin bulls are charging.

A day after hedge fund manager Mike Novogratz said the cryptocurrency will end the year at $10,000, Fundstrat’s Thomas Lee doubled his price target to $11,500 by the middle of 2018 — a 40 percent gain from current levels…

Crypto Bull Tom Lee Doubles Bitcoin Price Target to $11,500

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  • From regulation to communication, many PBOC tasks are in flux
  • Taming debt levels will be a key responsibility for new chief

When Zhou Xiaochuan finally hands over the baton at the People’s Bank of China after a decade and a half in charge, his successor will inherit a series of headaches crowned by a debt pile racing toward 300 percent of output…

These Are the Five Biggest Tests Facing China’s Next Central Bank Chief

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  • Opportunities near top of list anywhere: Bain Capital Credit
  • Varde is looking at a ‘number of situations’: CIO Carstairs

India’s highest-profile default this year and the government’s plan to inject capital into state-controlled lenders have thrust the nation’s bad debt into the spotlight. Some global debt funds increasingly like what they see…

India’s ‘Dirty Dozen’ Debtors Lure Big Funds to Their Bad Loans

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  • Yields on AAA rated notes have jumped as deleveraging kicks in
  • Weaker companies to find it harder to refinance debt: Gui

China’s deleveraging campaign is finally starting to bite in the nation’s corporate-bond market, a shift that will make 2018 a clearer test of policy makers’ appetites to let struggling companies fail…

China’s $3.4 Trillion Corporate Bond Market Faces Rocky 2018

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The company, in bankruptcy not long ago, seems to see the purchase of Centaur Holdings as a safe bet. Subject to regulatory approvals and other closing conditions, the transaction is expected to close in the first half of 2018.

Caesars Entertainment Corp. has agreed to acquire Centaur Holdings LLC for $1.7 billion in cash, which will add to Caesars’ already-extensive roster, including Centaur’s “racino” operations in Indiana…

Caesars to Buy Indiana Gaming Operator for $1.7B

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  • Jakarta court rejects counterclaim against Benny Tjokrosaputro
  • U.S. firm ordered to pay damages for Hanson share transaction

An Indonesian court ordered Goldman Sachs Group Inc. to pay 320.8 billion rupiah ($24 million) in damages to the founder of PT Hanson International, for what was ruled to be an “illegal transaction” to buy shares in the property developer…

Goldman Sachs Ordered to Pay $24 Million to Indonesia Tycoon

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The chicken production facility will be built in Humboldt. Roughly 1,500 new jobs are expected to be created once the project becomes operational in late 2019.

Tyson Foods Inc., one of the world’s largest food processors, intends to build a $300 million production facility in Humboldt, Tenn. The investment is expected to create more than 1,500 local jobs once the processing plant begins operations in late 2019. Outside contractors will help build the project, and Tyson Foods expects it will involve hundreds of workers.

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  • Online giant will buy a stake of over 36% in Sun Art Retail
  • Deal arms China’s largest hypermart player for battle

Alibaba Group Holding Ltd.’s $2.9 billion deal to buy a slice of China’s largest hypermart chain pits it against Wal-Mart Stores Inc. in the world’s largest retail arena.

China’s biggest e-commerce company agreed to acquire 36 percent of Sun Art Retail Group Ltd., which operates about 400 hypermarkets under the Auchan and RT-Mart banners. As part of the deal, France’s Auchan Retail SA will raise its stake in the Hong Kong-listed company to a similar level, and form an alliance with the internet giant to tackle the same Chinese food retail sector Wal-Mart’s targeting…

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The money will go to infrastructure projects, in addition to Chase branch updates for better energy efficiency. The Nature Conservancy, Eastside Community Network and Jefferson East community are some of the groups accessing the funds.
JPMorgan Chase will be kicking in a total of $900,000 to three nonprofits to support sustainable infrastructure projects in Detroit. In addition, more than two-thirds of Chase’s Detroit branches will be retrofitted with LED lights and new building management systems…
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Move over, Keith Parker, there’s a new raging bull on Wall Street.

BMO Chief Investment Strategist Brian Belski says the S&P 500 will end 2018 at 2,950, 14 percent higher than Friday’s close. The prediction tops the 2,900 target UBS AG’s Parker issued last week and is the highest among Bloomberg-tracked strategists who have provided forecasts for next year…

Wall Street’s Biggest Bull Sees S&P 500 Pushing Toward 3,000

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The company has closed a $20.1 million investment Miami. The 96,295-square-foot facility will be developed by Mequity LLC and is slated for completion by 2019.

Jernigan Capital Inc. has closed $20.1 million in investment capital to develop self-storage facilities in Miami. The new project will comprise 96,295 rentable square feet. Developed by Mequity LLC., construction is expected to begin in the second quarter of 2018 and is slated for completion by the third quarter of 2019.

At NW 27th St., between the Dolphin Expressway and Tamiami Trail, the facility will be located in Little Havana, in a densely populated residential area that currently offers limited self-storage options. NW 27th St. is a north-south thoroughfare that accommodates daily traffic of more than 48,000 vehicles…

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  • Job market going from among the weakest to ‘one of tightest’
  • Says near-term recession risk ‘still looks fairly limited’

The U.S. economy is heading into 2018 with strong momentum that’s likely to boost wages and inflation more broadly, requiring the Federal Reserve to raise interest rates four times next year, Goldman Sachs Group Inc. economists said in a research note…

Goldman Sachs Sees Four 2018 Fed Rate Hikes as U.S. Growth Gains

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  • Plan raises questions on whether paying staff bills is ethical
  • President’s legal bills had previously been covered by RNC

President Donald Trump has started paying his own legal bills related to the Russia probe, rather than charging them to his campaign or the Republican National Committee, and is finalizing a plan to use personal funds to help current and former White House staff with their legal costs…

Trump to Pay His Own Legal Bills, Set Up Fund to Cover Staff

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These Bloomberg functions provide a window into how money is moving across borders in M&A deals, portfolio investments, and ETFs.

Flows can provide powerful insights into economic and market trends. Both long-term foreign direct investment and ­shorter-term portfolio flows can be viewed as the business and investing communities’ judgment on policymakers’ economic and regulatory decisions. Buying a stake in a company or shares of an ­exchange-traded fund, for instance, could imply a vote of confidence…

What Investment Flows Can Teach You About Brexit

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With the newly added raised floor space, Compark becomes the company’s largest of five Denver facilities. It can deliver 1,500 watts per square foot, at a power usage effectiveness of 1.3.

Peak10 + ViaWest have completed an 88,000-square-foot expansion to its Englewood, Colo. facility. The Compark data center now has a total of 140,000 square feet of raised floor space. A total of five facilities are operated by Peak10 + ViaWest in the state of Colorado, all of them within Denver’s metropolitan area, with the newly expanded one being the largest.

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The company has plans to improve carrier capacity to more than 80 providers. The newly-acquired data center was previously owned by GSK, which will continue its IT operations at the location.
Peak10 + ViaWest has grown its national footprint to more than three million square feet of data center space. The company acquired a 203,000-square-foot, purpose-built facility in Collegeville, Pa. Global Data Center was completed in 2009 and previously owned by GlaxoSmithKline, which is also one of the main tenants. An HFF team secured the acquisition funds, a three-year floating-rate loan of $32.9 million, obtained through Wells Fargo Bank…
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The 106-acre site is currently undeveloped, except for two agricultural buildings, a gravel parking area and gravel roads. True North Data is currently awaiting approval from the Loudoun County Board of Supervisors.
Compass Datacenters has been watching its proposal for True North Data, a 750,000-square-foot data center in Loudoun County, Va., work its way through the Loudoun County Planning Commission since September, according to the Loudoun Times-Mirror, and now the Washington, D.C.-area project is in the hands of the Loudoun County Board of Supervisors. The Board was expected to rule on the developer’s rezoning request on Wednesday evening, November 15…
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Nov
16

Summit to Buy Four Hotels for $164M

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The company expects to spend approximately $7 million to $9 million in capital improvements over the next two years. This off-market transaction will bring Summit’s year-to-date acquisition activity to nearly $600 million.

Summit Hotel Properties Inc. has agreed to acquire four hotels totaling 652 guestrooms for an aggregate price of $164 million, or about $252,000 per key, Summit announced Monday…

Summit to Buy Four Hotels for $164M

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  • Austrian startup uses hydropower to mint ethereum and bitcoin
  • Electricity consumed to mine bitcoin rose 43% since October

A green-energy startup says it can solve bitcoin’s surging electricity consumption without boosting pollution, an issue threatening to halt the meteoric rise of the virtual currency…

This Cryptocurrency Miner Says It Solved Bitcoin’s Power Problem

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Hernando Self-Storage was built in January 2017 and features 329 climate-controlled units. The facility will be managed by Absolute Storage Management.

Hernando 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…

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  • Denmark’s covered bond market, world’s biggest, holds auctions
  • 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

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The 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 AliceJimRobLukas 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

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  • Clients allege Chowaiki won’t return cash or paintings
  • 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

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  • Allegation comes at court hearing in Manhattan court
  • 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

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Nov
15

Brookfield Bids $14.8B for GGP

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The proposed deal would net shareholders $23 per share and BPY units. The official proposal was submitted to the board of directors on Nov. 11.
Brookfield Property Partners L.P. (BPY), has made a $14.8 billion proposal to purchase all the outstanding shares of common stock of GGP Inc., other than the 34 percent of shares BPY and its affiliates already own…
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  • Japanese group to invest in new city, Saudi Electricity
  • 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

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In a transaction arranged by Transwestern, a Dallas-based group sold the two-story Winter Springs Town center, which is anchored by Publix.
Phillips Edison & Co. has bought a 115,767-square-foot retail plaza located at 1160 E. State Route 434 in Winter Springs, Fla. The Winter Springs Town Center is a two-story property anchored by Publix. Transwestern Managing Director John Bell represented the seller, a Dallas-based group…
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Investors in high-yield real estate now have a way to compare their returns and performance against an industry-standard benchmark, thanks to John B. Levy & Co.’s creation of the first mezzanine loan index.

Indexes 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.

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  • William Franke says bare-bones service is winning strategy
  • 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

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Comprising 378 guestrooms, the three-asset portfolio was subject to 10-year, fixed-rate loans. Vista Investments previously completed renovations at the properties.
Sonnenblick-Eichner Co. has arranged three long-term, fixed-rate loans totaling $35.4 million for the refinancing of Best Western Plus Hotels located in Sacramento, Calif. and San Diego. The firm secured $15 million in first-mortgage debt for the 100-key Best Western Plus Truckee-Tahoe hotel and a separate non-cross-collateralized $7 million loan for the 105-key Best Western Plus Rancho Cordova in the Sacramento area. Sonnenblick-Eichner also arranged a $13.4 million leasehold first-mortgage financing for the 173-key Best Western Plus Marina Gateway in National City, Calif…
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  • Global stocks index is down over the past five trading days
  • 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

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Rick 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

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  • New chief McDonagh forced to set aside more cash for crisis
  • 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

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Endeavor Real Estate and Rios Clementi Hale Studios finalized the revamp of the lobby. The $7 million investment materialized into new facings on interior retail, bike storage and a fitness center.

Endeavor 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.

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Millennials 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

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Marcus & Millichap brokered the sale of Metropolitan Square, a grocery-anchored lifestyle center, in Des Plaines, Ill. The firm represented the seller and procured the buyer.

Marcus & 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…

Mixed-Use Center Sells for $13M in Chicago Suburbs

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Canada’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

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As 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

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Steve 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

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Eyzenberg & Co. arranged the construction loan for a 42,000-square-foot, oceanfront mixed-use complex located in Myrtle Beach. Several tenants are already lined up to for the development.

Eyzenberg & 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.

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  • Yang Yong says his private fund shows how market has evolved
  • 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

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OPSkins, 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…

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  • ank says law and evidence don’t support Dallas jury’s verdict
  • 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…

JPMorgan Says Family Awarded $8 Billion Deserves Nothing

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The firm will begin construction on the first phase, which will comprise educational facilities, research laboratories, corporate offices and more. Brandywine is partnering with Drexel University on the master-planned project.

Brandywine 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…

Brandywine Breaks Ground on $3.5B Philly Project

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Nov
12

Kronos HQ in MA Trades for $12M

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The property is situated along the busy Route 129 corridor and will serve as an administrative building for the buyer, Digital Federal Credit Union.

Following 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…

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The company will advise the Texas Facilities Commission on construction of the first phase of the state office and promenade project in Austin.

Balfour 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.

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The 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

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  • Uber, investors close in on sale of up to $10 billion in stock
  • 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

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Cove Property Group teamed up with an institutional partner to redevelop Hudson Commons into a 700,000-square-foot trophy office building. HFF arranged the loan through affiliates of Apollo Global Management.

A 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…

Manhattan Tower Lands $479M Construction Financing

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  • Pacts include imports to China spanning helicopters to beef
  • 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.

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M&M Industries intends to expand its current Chattanooga plant and also acquire a new industrial building in the county. The investment is expected to create 110 new jobs.

M&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…

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Works by Rothko, Basquiat, Cy Twombly, and more bump up against each other in this humble storage space.
Every November, often for no more than a day or two, some of the most valuable of art in the world sits unseen, frame against frame, in the bowels of Christie’s Auction House in New York’s Rockefeller Center…
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Two Liberty Center was constructed in 2007 and is a 178,700-square-foot Class A office building that is LEED Silver certified.

An 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…

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Two 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

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  • ‘I’m here doing cartwheels,’ says bondholder Ray Zucaro
  • 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…

Venezuela’s PDVSA Makes $1.1 Billion Overdue Bond Payment

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Morgan Stanley appointed Stream Realty Partners as leasing manager of Eagle Park 20/35. The 454,408-square-foot industrial property in DeSoto, Texas, was completed last year.

Morgan 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…

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Faulty 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

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  • Senators want Stanbic IBTC censured by the central bank
  • 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

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