Affordable housing accounted for approximately 43% of New York City’s $3.91 billion in multifamily sales in 2Q 2023, according to Ariel Property Advisors’ Q2 2023 Multifamily Quarter in Review report. Major mission-driven investors including Nuveen, The Vistria Group, Tredway and Asland Capital Partners in association with Goldman Sachs made sizable affordable housing acquisitions across the
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Blackstone, the biggest owner of commercial real estate in the world, is placing its bets on the student housing rental market as demand surges worldwide. “Student housing is, I think where the opportunity is most specifically generating a lot of strong cash for us and our investors,” as universities seek more accommodations to satisfy growing
If I knew how, I’d short the real estate market. Right now. Because it’s pretty clear that home prices across the country will be falling for years. The last time this happened, after home prices peaked in 2007, some investors made a killing by shorting the stocks of mortgage companies, Wall Street firms, Fannie Mae
Municipal bonds tied to Destiny USA, the biggest shopping mall in New York state, were cut deeper into junk by Moody’s Investors Service on Wednesday because the complex is unlikely to meet a key measure of profitability needed to extend an outstanding loan. Moody’s lowered the rating on municipal bonds backed by payments in lieu
Receive free Markets Insight updates We’ll send you a myFT Daily Digest email rounding up the latest Markets Insight news every morning. The writer is chief investment officer at Pictet Wealth Management Germany has the means to fire up its ailing economy, but will it use it? Berlin’s fiscal strength gives it an option most
As the government slouches toward a shutdown this weekend, municipal market participants expect short-term fallout to be relatively minor but are keeping a cautious eye on unexpected pitfalls. A shutdown could disrupt federal infrastructure projects, halt rulemaking on new financing tools, freeze federal subsidies to direct-pay debt and generally cause uncertainty for borrowers and investors
Receive free Inside Business updates We’ll send you a myFT Daily Digest email rounding up the latest Inside Business news every morning. Listening to Mark Zuckerberg this week, it has been hard not to conclude that when it comes to artificial intelligence, much of the tech industry is throwing whatever new ideas it can think
Receive free World Bank updates We’ll send you a myFT Daily Digest email rounding up the latest World Bank news every morning. When the UN held its general assembly last week, the attention of the media — and the protesters — was mostly focused on the politicians. But in its shadow, another event was taking
Ken Smith moved to the Lincolnshire coast to see out his retirement, writing crime novels while surrounded by beaches, arcades, holiday parks and nature reserves. Recently, however, his retreat has been disturbed. The Mablethorpe resident has found himself unexpectedly on the front lines of a struggle affecting countries across the world, centred on how to
In this article JEF DUOL MU PTON KMX CSA-FF Follow your favorite stocksCREATE FREE ACCOUNT The Trimble logo is displayed on a smartphone. Igor Golovniov | SOPA Images | LightRocket | Getty Images Check out the companies making headlines in midday trading. Trimble — The technology services provider jumped about 6.4% on Thursday on the
The Dallas City Council on Wednesday approved the private placement of up to $223 million of debt, an initial step to finance the replacement of its convention center and improvements to Fair Park. The special tax revenue obligations will be placed with qualified financial institutions or investors in October, according to Filicia Hernandez, the city’s
Californians say jobs, the economy, and inflation are the most important issues facing the state today, according to a new poll. Two out of three Californians said they expect bad economic times in the next 12 months; and that California is going in the wrong direction, according to a Public Policy Institute of California poll
Receive free Sovereign bonds updates We’ll send you a myFT Daily Digest email rounding up the latest Sovereign bonds news every morning. European government bond prices dropped sharply on Thursday as investors took fright at Italy’s larger than expected budget deficit and mounting concerns that central banks will keep interest rates high for an extended
In this article MU GME KMX LULU PTON Follow your favorite stocksCREATE FREE ACCOUNT A CarMax dealership on April 11, 2023 in Santa Rosa, California. Justin Sullivan | Getty Images Check out the companies making headlines before the bell. Micron — The chipmaker’s shares fell 3.4% Thursday before the bell on the back of a
Roy Rochlin | Getty Images Entertainment | Getty Images Billionaire investor Ray Dalio is watching closely the “risky” U.S. fiscal situation. “We’re going to have a debt crisis in this country,” the founder of hedge fund Bridgewater Associates said in an interview with CNBC’s Sara Eisen that aired on Thursday. The two were speaking at
Bitcoin (BTC) hit new weekly highs after the Sep. 28 Wall Street open as markets awaited fresh cues from the United States Federal Reserve. BTC/USD 1-hour chart. Source: TradingView Bitcoin summons volatility ahead of Powell speech Data from Cointelegraph Markets Pro and TradingView showed BTC price strength staging a comeback on the day, having delivered what
A recession is all but inevitable for the U.S. and investors should be playing defense in that kind of environment, according to the head of the TCW Group. “We are going to have a recession, because that’s the way the world works,” Katie Koch, CEO of the firm with $210 billion under management, said Thursday
Receive free Adani Group updates We’ll send you a myFT Daily Digest email rounding up the latest Adani Group news every morning. Abu Dhabi conglomerate International Holding Company is to sell its stake in two of Indian tycoon Gautam Adani’s companies, in a blow to the business empire battling allegations of accounting fraud. IHC announced
Despite its roots embedded in Bitcoin (BTC) lending, lending platform Ledn has announced the launch of an Ethereum (ETH) yield offering following user requests for a shielded alternative to manually staking Ether. The Cayman Island’s firm has added an ETH offering to its Growth Accounts products, which currently offers users ring-fenced facilities to earn interest
What are the friendliest places in America? The self-storage company Neighbor.com has just released its fourth annual list of America’s 25 Most Neighborly Cities, in honor of National Neighbor Day. The 2023 study ranks U.S. cities based on factors like charitable donations, volunteering, crime rates and more. This year, Madison, Wisconsin has been named the
Receive free Evergrande Real Estate Group updates We’ll send you a myFT Daily Digest email rounding up the latest Evergrande Real Estate Group news every morning. Evergrande on Thursday said its chair, Hui Ka Yan, had been placed under “mandatory measures” on suspicion of involvement in “illegal crimes”, a sign of escalating government pressure on
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