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Xceligent Shuts Down Operations, Files for Ch. 7 Liquidation
(COSTAR) - 1 hours, 54 minutes ago...
The board of real estate information provider Xceligent today announced it decided to dissolve the company and file for Ch. 7 liquidation under the U.S. Bankruptcy Code. The decision to shut down comes less than a month after Xceligent's owner, London-based Daily Mail and General Trust plc (DMGT), announced it had written off its investment in the business and recorded an impairment charge of US$56.54 million as part of its full-year results. At......
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CVS-Aetna Combination Signals Coming Convergence of Health Care and Retail Real Estate
(COSTAR) - 1 hours, 54 minutes ago...
Last week's blockbuster deal in which CVS Health (NYSE: CVS) agreed to acquire Aetna Inc. (NYSE: AET) for $77 billion, including assumption of debt, has the potential not only to fundamentally alter the health plan market but also radically reshape the retail and health care real estate markets. With about $245 billion in combined revenue and around $19 billion in combined EBITDA, CVS and Aetna are banking on the potential to redefine the way individuals......
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Dollar Stores Remain Retail Success Story, Continue to Defy Online Disruption
(COSTAR) - 1 hours, 54 minutes ago...
As the convenience of online shopping continues to propel its growth at the expense of some brick-and-mortar retail locations, one corner of the traditional retail market seems to be expanding along just fine: dollar stores. Dollar General Corp. (NYSE:DG) and Dollar Tree Inc. (NYSE:DLTR) continue rolling out hundreds of new stores each quarter -- and both announced plans to continue to do so next year. "With our strong stores growth we anticipate......
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Solid Labor Market Gains, with Even More Room for Improvement
(COSTAR) - 1 hours, 54 minutes ago...
Nonfarm payroll employment marched further forward in November, adding 228,000 jobs and also revising October’s jobs upward by 3,000, as reported by the Dept. of Labor on Friday. The average number of jobs added per month in 2017 now stands at 175,000, a slowdown from the same period in 2016 but still defying expectations for job growth as the economy enters what is widely believed to be a state of full employment. The unemployment rate held steady......
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Luxury Living: The 6 most expensive condos on the market in Birmingham
(BIZ Journals) - 1 hours, 54 minutes ago...
After several years with apartments dominating the construction pipeline in metro Birmingham, condos are making a comeback. As we've reported, that's particularly true in the city of Birmingham, where more condo and townhomes are in the works. Those units will join a condo market that is already home to a number of upscale options, particularly in suburbs like Homewood and Mountain Brook. In this special feature, we're taking a look at the most expensive condos on the market ...
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Brooks Harris is at home in homebuilding
(BIZ Journals) - 1 hours, 54 minutes ago...
Brooks Harris co-founded a new homebuilding company right as the U.S. housing market crashed. But it turned out to be a huge success. ...
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Another movie star puts an Austin home on the market
(BIZ Journals) - 1 hours, 54 minutes ago...
A Hollywood celebrity who has been an Austin mainstay for years is selling his house overlooking Lake Austin. Dennis Quaid recently listed his nearly 5,000-square-foot home in the gated Marina Club development adjacent to the Austin Country Club. Quaid’s younger brother Buddy Quaid and Eric Copper, both with Austin Portfolio Real Estate, the luxury division of Keller Williams Realty, have the co-listing. The price is $3.5 million. Quaid has owned the property for four to five years, Co...
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How the U.S. tax code helps to pay for affordable housing
(BIZ Journals) - 1 hours, 54 minutes ago...
The low-income housing tax credit was born 31 years ago as part of the Tax Reform Act of 1986 under President Ronald Reagan to encourage private investment in the construction and renovation of low-income housing. ...
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Exclusive: Plans filed to add more apartments, retail to Saratoga Avenue complex
(BIZ Journals) - 1 hours, 54 minutes ago...
The project is within the Saratoga Avenue Urban Village in San Jose’s general plan, which means it must meet the criteria for a “signature project” because a specific plan for that urban village has not yet been approved. ...
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City will build first bond-backed affordable housing at former strip club site
(BIZ Journals) - 1 hours, 54 minutes ago...
The city's plans to build affordable housing on the site of a former strip club are moving forward in in Southeast Portland. In a release today, Mayor Ted Wheeler said the project will bring up to 300 units of affordable housing to the property at 3000 S.E. Powell Blvd. The city purchased the site, the former home of the Safari Club, for $3.7 million in September. Funding for the deal came in part from taxes that the city levies on short-term rentals like Airbnb. The new affordable housin...
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