Melville lawyer accused of stealing over $400K from real estate deal
SUFFOLK COUNTY, NY – A Long Island attorney was arrested Friday on charges that he stole more than $413,000 meant to pay off a client’s loan during a real estate closing. Prosecutors…
Brooklyn Man Admits Guilt in Real Estate Fraud Scheme
BROOKLYN, NY – District Attorney Eric Gonzalez announced on Wednesday that Derrick Johnson, a.k.a. Jay Rendell, 60, of Clinton Hill, Brooklyn, has pleaded guilty to grand larceny in relation to a deed…
UK real estate adviser Savills posts sharp profit drop, shares tank
(Reuters) – Savills Plc posted a sharp drop in half-yearly profits on Thursday as rising interest rates hit trading volumes, sending the British real estate adviser’s shares down nearly 9%. The company…
Zara founder Ortega’s real estate fortune hit $20 billion in 2022
MADRID (Reuters) – The investment firm of Spanish billionaire Amancio Ortega, the founder of fashion giant Inditex, on Thursday reported a 2.8 billion-euro jump in the market value of its real estate…
How hedge funds would trade global real estate woes
By Nell Mackenzie and Carolina Mandl LONDON/NEW YORK (Reuters) – Property markets knocked by high interest rates and the end of cheap financing have caught the eye of hedge funds. U.S. and…
Factbox-U.S. banks increase reserves for commercial real estate exposure
By Matt Tracy (Reuters) – The U.S. commercial property market has faced severe challenges since the pandemic due to lingering office vacancies, diminished retail activity and higher interest rates. That stress has…
Chinese Billionaire Admits To Bribing Blue City Official To Speed Up Real Estate Project
Chinese Billionaire Admits To Bribing Blue City Official To Speed Up Real Estate Project Brandon Poulter on July 20, 2023 A Chinese property tycoon admitted to bribing a California government official, the…
S.Korea financial watchdog gathers securities firms to manage real estate risks
SEOUL (Reuters) – South Korea’s financial market watchdog gathered local securities firms on Thursday to assess real estate-related risks and urged for thorough and preemptive preparation against them amid concerns the number…
Warburg Pincus names Asia real estate chief Perlman as president
By Kane Wu (Reuters) – Private equity firm Warburg Pincus on Wednesday named its Asia head of real estate Jeffrey Perlman as successor to Timothy Geithner as president. Geithner, who was U.S.…
Mother and Daughter Ordered to Repay $681,000 to Deceased Elderly Woman’s Estate
BRONX, NY – Maria Garcia, 75, of Seffner, Florida, and Mara Garcia, 39, of Doral, Florida, were sentenced on last Monday, to five years of probation and 500 hours of community service.…
China central bank extends policies for financial support of real estate market
BEIJING (Reuters) – China’s central bank on Monday extended until the end of 2024 some policies in a November rescue package to shore up the real estate sector, with current supports for…
Investigators Probe Texas AG’s Multi-Million Dollar Real Estate Binge: REPORT
Investigators Probe Texas AG’s Multi-Million Dollar Real Estate Binge: REPORT Mary Lou Masters on June 29, 2023 Investigators have widened the scope of their impeachment probe into suspended Republican Attorney General Ken…
US regulators ask lenders to work with stressed commercial real estate firms
(Reuters) – U.S. banking regulators are asking lenders to work with credit-worthy borrowers that are facing stress in the commercial real estate market. Financial institutions should work “prudently and constructively” with good…
Factbox-Big banks stand strong against Fed’s commercial real estate gloom
By Michelle Price WASHINGTON (Reuters) – Big U.S. banks’ commercial real estate portfolios put in a surprisingly good performance during the Federal Reserve’s annual health checks, with losses declining slightly on last…
Analysis-HSBC dumps London tower for smaller office as real estate reckoning unfolds
By Iain Withers and Chiara Elisei LONDON (Reuters) – HSBC’s move to ditch its 45-floor Canary Wharf tower in favour of a much smaller development in central London is one of the…
Woman Accused of Estate Sale Scams in Bethlehem Township
BETHLEHEM TOWNSHIP, PA – A Hellertown woman, Amy Lynn Richline, has been recently arraigned on multiple charges of theft and deceptive or fraudulent business practices. Bethlehem Township Police Department, in collaboration with…
Two sentenced in Atlantic City real estate fraud scam
MAYS LANDING — Two Atlantic County men have been sentenced after pleading guilty to a real estate scam involving fake deeds for properties in Atlantic City. Richard Toelk Jr., 54, also known…
EU’s Gentiloni sees no risk of EU real estate or debt crisis as rates rise
BRUSSELS (Reuters) – Europe is not in danger of a real estate or debt crisis as a result of the rapid rise in European Central Bank interest rates, Economic Commissioner Paolo Gentiloni…
Suspect Sought in Susquehanna Village Real Estate Company Burglary
PHILADELPHIA, PA – The Central Detective Division in Philadelphia is seeking the public’s assistance in identifying an individual involved in a recent burglary at Susquehanna Village Real Estate Company. On Monday, around…
Fund managers at Milken eye fixed income as stocks, real estate lose luster
By Svea Herbst-Bayliss and Carolina Mandl BEVERLY HILLS (Reuters) – Prominent investors including hedge fund and private equity managers at a major industry conference say they are shying away from stocks and…
China completes landmark national real estate registration system
BEIJING (Reuters) – China has finished building a national and unified system for real estate registration, the official Xinhua news agency reported on Tuesday, in a landmark move that will boost transparency…
Commercial real estate loans in core Europe face $55 billion funding gap, report says
By Chiara Elisei LONDON (Reuters) – Around one in five loans backing commercial real estate (CRE) in Britain, France and Germany that fall due between now and 2025 are likely to face…
Biden’s ‘Green’ Transition Is Already Running Out Of Prime Real Estate For Solar And Wind Projects: REPORT
Biden’s ‘Green’ Transition Is Already Running Out Of Prime Real Estate For Solar And Wind Projects: REPORT John Hugh DeMastri on April 24, 2023 President Joe Biden’s goal to transition the U.S.…
‘Serious Danger’: Elon Musk Predicts Banking Crisis After Real Estate ‘Anvil’ Drops
‘Serious Danger’: Elon Musk Predicts Banking Crisis After Real Estate ‘Anvil’ Drops Harold Hutchison on April 18, 2023 Tesla CEO Elon Musk said during part of an interview that aired Tuesday that…
Analysis-Banking crisis scars struggling U.S. real estate stocks
By Lewis Krauskopf NEW YORK (Reuters) – U.S. real estate stocks are struggling this year after a rough 2022, as fears that banks will tighten lending standards pile pressure on a sector…
Online US real estate firm Opendoor cuts 22% of workforce
By Greg Bensinger (Reuters) -Opendoor Technologies Inc on Tuesday said it was cutting roughly 560 jobs, or 22% of the workforce at the online U.S. real estate firm, citing a declining housing…
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