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Realty Income to Acquire Properties from CIM Real Estate Finance Trust, Inc. for $894 Million, 7.1% Cash Cap Rate
SAN DIEGO, Dec. 30, 2022 /PRNewswire/ — Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that it has signed a definitive agreement to acquire up to 185 single-tenant retail and industrial properties from subsidiaries of CIM Real Estate Finance Trust, Inc. (CMFT), a non-listed REIT which is sponsored by an affiliate of CIM Group, for approximately $894 million in cash. The portfolio composition may vary based upon the completion of our due diligence and the potential exercise of rights of first refusal related to certain properties. The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions, approvals and completion…
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Former ‘Million Dollar Listing Miami’ star reveals the ‘game changer’ in real estate heading into 2023
DeBianchi Serious Estate’s Sam DeBianchi discusses home loan costs and shares her outlook for the housing current market into up coming 12 months. True estate has proved to be a “tricky” marketplace to navigate, but 1 sector professional argues home finance loan premiums trending downward at the close of 2022 will be the “activity changer” heading into 2023. “Just one matter that I genuinely will say that’s the video game changer in real estate are mortgage premiums,” DeBianchi Actual Estate’s Sam DeBianchi, who starred on Million Greenback Listing Miami’s only season, stated on “Mornings with Maria” Tuesday. “The increased these rates are, the extra individuals want in a dwelling. So…
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Casino Mogul Steve Wynn Is Betting on the Luxury Market, as He Unloads $300 Million in Personal Real Estate
Casino mogul Steve Wynn is putting his Sun Valley, Idaho, homes on the market as he looks to sell a huge swath of his personal real estate for close to $300 million. Mr. Wynn is listing two adjacent Sun Valley properties for $27 million, after listing a Palm Beach residence for $78.5 million and a New York City penthouse for $90 million. In addition, a $100 million Beverly Hills, Calif., estate he listed last year is still on the market. He sold his Las Vegas, Nev., home for $17.5 million in June, records show. Steve Wynn in 2019. RON SACHS/PRESS POOL/EPA/Shutterstock Mr. Wynn, 80, is taking his chances on the…
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FTX executives spent $256 million on Bahamas real estate
The Bahamas has additional than 700 islands and cays remote employees and learners can are living on 16 of them, such as Eleuthera (proven right here). Sylvain Sonnet | The Graphic Lender | Getty Photos Bahhamian attorneys say FTX executives Sam Bankman-Fried and Ryan Salame invested $256.3 million to buy and preserve 35 distinct properties throughout New Providence, Bahamas. Now, Bahamas regulators are hoping to claw back the home from FTX’s U.S. bankruptcy defense proceedings, telling a Delaware federal personal bankruptcy decide that permitting the homes to be administered in U.S. courts would be each administratively ineffective and illegal beneath Bahamas law. It is the initially accurate glance at the…
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$2.4 million Houston mansion’s unique shape provides privacy
Houston commuters who traverse Kirby Drive and Shepherd Drive have likely noticed an unusually shaped house along their route. The pill-shaped home at 897 Kirby Drive not only owes its uniqueness to its shape, but also to its windowless front facade and imposing black doors. The Lucian Hood-designed home is more than pleasing to the eye, the lack of front windows provides a buffer from the Kirby Drive traffic. A gated motor court that can be accessed from either Kirby Drive or Shepherd Drive translates to plenty of parking. When one enters the home, the first feature to catch one’s eye is the dramatic spiral staircase to the left. It twists and…
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California man sentenced 9 years for $6 million real estate scam
Check out out what is clicking on FoxBusiness.com A California gentleman was sentenced to 9 many years in federal prison for his involvement in a $6 million serious estate scam where by properties were outlined without homeowners’ consent and money was gathered from prospective potential buyers. Adolfo Schoneke, 45, was sentenced on Oct. 24 right after pleading responsible in May well to a single depend of conspiracy to dedicate wire fraud. His sister and a co-conspirator, 39-yr-old Bianca Gonzalez, pleaded responsible to the exact same demand in April and is scheduled to be sentenced in May possibly 2023. Schoneke, his sister and their co-conspirators operated real estate and escrow organizations…
