Detroit-headquartered Rocket Companies (NYSE: RKT), has completed its $1.75 billion acquisition of Redfin. With the closure of the acquisition, Redfin has adopted a new brand identity as “Redfin Powered by Rocket.” The companies also introduced Rocket Preferred...
Ohio Gov. Mike DeWine has signed the state’s two-year budget that includes a provision for $600 million in state funds to cover some of the construction costs on the Cleveland Browns’ $2.4 billion domed stadium development. According to combined media reports,...
BBG, the Dallas-headquartered national commercial real estate services firm, has unveiled its Data Center Specialty Practice to meet the demand for valuation, due diligence, and advisory services in the fast-growing infrastructure sector. According to the company,...
California Gov. Gavin Newsom signed legislation that enacts major changes to the California Environmental Quality Act (CEQA) that are designed to increase the availability of affordable housing across the state. KCRA reports the new law takes effect today and will...
The New York City Rent Guidelines Board voted 5-4 on a rent hike of up to 4.5% for the city’s roughly 1 million rent-stabilized apartments. The New York Post reports the board approved a 3% rent increase on 1-year leases and 4.5% for 2-year leases that start on or...
The commercial mortgage-backed securities (CMBS) delinquency rate rose by 5 basis points in June to 7.13%, according to new data from Trepp Inc. The overall delinquent balance was $42.3 billion this month, down from $42.6 billion in May, while the outstanding balance...
