Investing
Empire State Building IPO Disappoints; Raises $929.5 Million at $13 per Share
Gong Aiai ‘House Sister’ Sentenced to 3 Years Prison for Real Estate Fraud in China
Mumbai’s Beach-Facing Residence Sells for Record $215,276 per Square Feet; Most Expensive Deal of India
EDITOR'S PICKS
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Gov. Gavin Newsom Expedites Temporary Housing For Residents In Areas Struck By LA Wildfires
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Pasadena Native Lost Her House To LA Wildfires One Day After Paying Off Her Mortgage: 'It's Gone'
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How The Mircale Malibu Mansion And Pacific Palisades Home Survived The Devastating LA Fires
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What Happens To Your Mortgage And Property Tax When You Lose Your Home In A Natural Disaster?
Empire State Realty Trust Inc, the real estate investment trust that snaked its way through various controversies is all set to launch October 1. It plans to launch an Initial Public Offering (IPO) of 71.5 million shares at $15 to $13 a share, seeking up to $1.07 in its debut offering, according to a regulatory filing Thursday. Westfield Selling 7 US Malls to Starwood Capital Group for $1.6 Billion
Westfield Group, the Australia-based property giant has reportedly entered into an agreement to sell stakes in seven of its malls in the U.S. to Starwood Capital Group for about $1.6 billion. Westfield is selling in order to consolidate its American portfolio and raise capital to focus on planned development projects. Malkins to Go Ahead with the Empire State Building IPO Plan; Reject All Bids
After a lot of controversy, debate and delay on the decision to roll the iconic Empire State Building into a public real estate investment trust (REIT), Malkin Holdings LLC, the company that manages the building announced Friday that they will be proceeding with the Initial Public Offering (IPO) plan. They have rejected all the bids that were offered to buy the portfolio, according to several news reports. The Real Estate Industry and the New York Mayoral Race
The real estate sector is one of the most important contributors of the economy. However, the sector’s influence is not limited to the economy. Looks like, the segment is influencing a lot of the economy runners as well. Updated Renderings of Amazon’s Proposed Seattle Headquarters Revealed (VIDEO)
Amazon, the retailing giant has tweaked plans of its proposed headquarters in Seattle City and updated its renderings. The new plan will be presented to the Seattle Department of Planning and Development (SDPD) this week, according to several news reports. Zillow to Acquire New York Based StreetEasy for $50 Million
Real estate website Zillow has reportedly entered into an agreement to purchase StreetEasy, another popular New York real estate listing site, for approximately $50 million cash the company announced in a press release Monday, August 19, 2013. More American Homes Sold through Complete Cash Transactions: Goldman Sachs Survey
Almost all homes that sold in 2012 and in the first half of 2013 were financed by all-cash transactions, a new survey by financial firm Goldman Sachs Group found. Blackstone Buying Multifamily Residential Portfolio from General Electric for $2.7 Billion
Blackstone Group LP has reportedly agreed to purchase a large multifamily residential portfolio from General Electric’s financial arm for a deal worth $2.7 billion. Blackstone will be acquiring about 80 apartment buildings from GE in an effort to maximize its presence in the U.S. residential property market, according to several media reports. UAE Commercial Real Estate Mapping Speedy Recovery: RICS Survey
The commercial real estate market of the United Arab Emirates has been rebounding and showing great signs of recovery, according to a recent quarter survey by the Royal Institution of Chartered Surveyors (RICS). Due to increased foreign investment and interest in the sector, the region’s growth has accelerated commendably. NAHB Report: August Sees 247 Improving Markets in US
The First American Improving Markets Index (IMI) of the National Association of Home Builders (NAHB) released Thursday the list of improving housing markets in the U.S., which included 247 metropolitan areas.
