Blackstone Limits Redemptions From Real Estate Vehicle, Stock Sinks

Blackstone Limits Redemptions From Real Estate Vehicle, Stock Sinks

Blackstone Inc. BX -7.09% shares took a big hit after the investing giant’s real-estate fund aimed at wealthy individuals said it would limit redemptions. Blackstone Real Estate Income Trust Inc., more commonly known as BREIT, said Thursday in a letter posted to its website that the amount of withdrawals requested in October exceeded its monthly … Read more

Blackstone Stake Sale Values MGM Grand, Mandalay Bay at $5.5 Billion

Blackstone Stake Sale Values MGM Grand, Mandalay Bay at .5 Billion

Blackstone Inc. has agreed to sell its 49.9% stake in two Las Vegas hotels in a deal that values the properties at $5.5 billion, marking one of the largest U.S. casino transactions this year. The New York investment firm is selling its stake in the MGM Grand Las Vegas and the Mandalay Bay to Vici … Read more

Tribe Property Technologies to Buy Strata Management Assets in Vancouver

Tribe Property Technologies to Buy Strata Management Assets in Vancouver

By Adriano Marchese Tribe Property Technologies Inc. has expanded its service delivery in British Columbia with the acquisition of a portfolio of assets from Warrington PCI Management. The Vancouver, British Columbia-based digital marketplace for community living said Tuesday that it has agreed to pay 375,000 Canadian dollars (US$278,758) for a portfolio of strata property management … Read more

Chiefs To Acquire Giants WR Kadarius Toney

Chiefs To Acquire Giants WR Kadarius Toney

The Giants are already moving on from Kadarius Toney. Despite choosing the shifty wide receiver in the 2021 first round, the Giants are trading him to the Chiefs, NFL reporter Jordan Schultz tweets. Kansas City is sending a compensatory third-round choice and a sixth-rounder to New York for Toney, who has again battled injuries this … Read more

Trump Organization Tax-Fraud Trial Set to Begin in New York

Trump Organization Tax-Fraud Trial Set to Begin in New York

The criminal tax-fraud trial of the Trump Organization is set to begin with jury selection Monday, offering a rare look into an opaque company that prosecutors say illegally paid some executives in cars, apartments and cash. The Manhattan district attorney’s office alleges former President Donald Trump’s family business effectively kept two sets of books. In … Read more

‘We’re seeing buyers backing out’: This dramatic chart reveals U-turn in the housing market as sellers slash home prices

‘We’re seeing buyers backing out’: This dramatic chart reveals U-turn in the housing market as sellers slash home prices

Here’s a chart that speaks a thousand words about the state of the real-estate market right now. The chart above, part of a new report by real-estate brokerage Redfin RDFN, -7.03% on the property market, reveals how home sellers are adjusting to the new normal of 7% mortgage rates. The chart says that 7.9% of … Read more

RF Corval Divests Heritage Woolsheds for $110m

RF Corval Divests Heritage Woolsheds for 0m

The City of Sydney Council has purchased a heritage-listed office property in inner-city Sydney, for $110 million. The property, the Woolstores at Alexandria, was bought from RF Corval, the property funds platform backed by the Roberts family–founders of builder Multiplex. RF Corval had held it since 2014 when it paid $51.8 million, on a net … Read more

Retail Real Estate Is Enjoying Its Biggest Revival in Years

Retail Real Estate Is Enjoying Its Biggest Revival in Years

U.S. retail vacancy fell to 6.1% in the second quarter, the lowest level in at least 15 years, while asking rents for U.S. shopping centers in the quarter were 16% higher than five years ago, according to real-estate services firm Cushman & Wakefield. More stores opened than closed in the U.S. last year for the … Read more

U.S. will turn into a buyers’ housing marke in 2023, most experts say. Here’s where you’ll see the biggest declines.

U.S. will turn into a buyers’ housing marke in 2023, most experts say. Here’s where you’ll see the biggest declines.

Frustrated by the housing market? Housing experts say they’re expecting the market to tip back into buyers’ court by 2023, according to a new report. Mortgage rates are approaching 7%, but home prices are only slowly coming back down and inventory is still tight compared to pre-pandemic levels. Still, the U.S. housing market will shift … Read more