Worldโs Largest Retirement Community Set to Borrow $180 Million
The Villages, a 57,000-acre Florida retirement community, is looking to issue almost $180 million in high-yield debt to finance more homes.
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The Villages, a 57,000-acre Florida retirement community, is looking to issue almost $180 million in high-yield debt to finance more homes.
Fort Lauderdale is no longer just a sleepy retirement town. New York developers and wealthy buyers from across the US are pouring into this booming waterfront city, drawn by luxury condos, better taxes, and a younger, vibrant lifestyle. Miki Naftali, the Chairman and CEO of Naftali Group joined Bloomberg Open Interest to talk about the South Florida luxury real estate boom. (Source: Bloomberg)
A US real estate firm announced on Wednesday it is buying the Chrysler Building and will undertake a vast makeover of the art deco landmark that dominates New Yorkโs skyline. The Chrysler Building, which was opened in 1930 as a symbol of exuberance and modernity, had faced several years of uncertainty over its ownership. Tishman Speyer, a commercial landlord, said it and other investors will inject US$235 million into the property to refurbish its ageing interior and exterior. They will also pay...
As U.S. mortgage rates rise above 7% for the first time in a couple of years, Elizabeth Bell, Co-Head of Real Estate at Hamilton Lane, discusses whether the broader real estate market has been written off amid a slow post-pandemic recovery, changing consumer spending and higher rates. Bell says the market faces risks from elevated interest rates and geopolitics, which weigh on investment and yields, but still offers opportunities. She speaks with Romaine Bostick on "The Close." (Source: Bloomberg)
A former senior CIA official pleaded guilty on Tuesday in Virginia to a charge that he abused his position and government funds to enrich himself by acquiring Florida real estate and hundreds of gold bars worth over US$40 million, according to court records. David J. Rush fabricated a โhighly classifiedโ government programme to justify the acquisition of luxury property in south Florida that he intended to resell for personal profit, according to a court filing. Rush separately concocted a bogus...