Real estate industry
William Ackman, founder of Pershing Square Capital, will present his proposals for McDonald's to unlock "hidden" value and return funds to investors at a "value investing" conference tomorrow. Ackman's proposals, which include selling off 65% of McDonald's company-owned restaurants and
Real estate industry
Linens 'n Things, Inc., a leading national large format retailer of home textiles, housewares, and home accessories, has entered into a definitive agreement to be acquired by a company newly formed and controlled by Apollo Management, L.P. on behalf of itself and its managed funds, together with certain
Real estate industry
The National Association of Realtors (NAR) has been facing criticism over its policies restricting competition among real estate brokers, with the US Department of Justice (DOJ) filing a lawsuit against the NAR on September 8, alleging that its Virtual Office Website policy and Internet Listing Display policy obstruct real estate
Real estate industry
Vietnam's construction steel demand has faced a sudden slump, with 200,000 tonnes sold in October, a 17.5% decline from the previous month, according to the Vietnam Steel Association (VSA). The association attributes this drop to the frozen real estate market, natural disasters, and buyers waiting for
Real estate industry
Stephen R. Casper, a Realtor from the Cincinnati area, was honored with the prestigious Distinguished Service Award by the National Association of Realtors for his outstanding contributions and service to the real estate industry and his local community. The award, established in 1979, recognizes Realtors who have served with distinction
Real estate industry
Pennsylvania Real Estate Investment Trust (PREIT), a leading equity REIT in the US, has announced a quarterly cash dividend of $0.57 per common share, marking its 115th consecutive distribution since its initial dividend in 1962. This consistency in dividend payments is a testament to PREIT's commitment to
Real estate industry
A federal jury convicted 53-year-old J.R. Parker of swindling homeowners and mortgage companies out of millions of dollars by marketing houses at inflated prices without disclosing the true sales proceeds to buyers and mortgage financiers. Parker, whose real estate business was based in Jacksonville, accepted a $14 million forfeiture
Real estate industry
The global real estate management and property management services market has experienced a stagnant performance in recent years, with Europe being the strongest regional performer. Within the US market, a promising area of growth lies in the continued popularity of large-scale discount and specialty stores. Key players in the global
Real estate industry
The Brookfield Consortium, consisting of Brookfield Properties, CPP Investment Board, and Arca Investments Inc., has completed the takeover of O&Y REIT and O&Y Properties Corporation following the satisfaction of all conditions related to the offer. The offer, which expired on October 17, 2005, saw 86.6%
Real estate industry
Education Realty Trust, a leading owner and operator of collegiate student housing, has been selected to develop a new student housing project at Indiana University of Pennsylvania (IUP). The project, valued at $230 million, will replace existing student housing with newly constructed residential facilities, providing 3,600 student beds. This
Real estate industry
Arbor Realty Trust, a real estate investment trust, has announced the resignation of Robyn Stern, Executive Vice President of Asset Management, effective immediately. Stern is leaving to pursue other professional opportunities. Mark Fogel, Senior Vice President of Asset Management, will report directly to Ron Gaither, Chief Operating Officer of Arbor
Real estate industry
Consumer confidence in the US economy has weakened in the wake of the protracted federal budget, leading to a slight decline in sales of pre-owned homes in November, according to the National Association of Realtors. Although the resale pace was 9.5% higher than in November 1994, the seasonally adjusted
