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West Virginia Governor Blames James Dimon for Foreclosure Auction of Historic Hotel

West Virginia Governor Blames James Dimon for Foreclosure Auction of Historic Hotel

by Phil Hall | Aug 2, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The Greenbrier Hotel, the historic West Virginia lodging establishment, is at the center of a controversy that encompasses the upcoming election and JPMorgan (NYSE:JPM) chief Jamie Dimon. WCHS-TV reports the Greenbrier is owned by West Virginia Gov. Jim Justice and...
Connecticut Supreme Court Rules in Favor of Homeowners Making Short-Term Rentals

Connecticut Supreme Court Rules in Favor of Homeowners Making Short-Term Rentals

by Phil Hall | Aug 2, 2024 | Industry Updates, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The Connecticut Supreme Court issued a ruling that it makes it easier for the state’s property owners to offer their homes on short-term rental platforms including AirBnb and VRBO. According to a CT Mirror report, the court’s 5-2 ruling determined that a “residence”...
Louis CK Lists Shelter Island Estate for $9.25 Million

Louis CK Lists Shelter Island Estate for $9.25 Million

by Phil Hall | Aug 2, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Comedian Louis CK is listing his estate in Shelter Island, New York, for $9.25 million – 10 years after he acquired the property for $2.44 million. According to a Curbed report, the Tudor-style 5,300-square-foot residence on a 2.02-acre property was built in 1901 and...
CMBS Delinquency Rate Rises, Fueled by Office Sector

CMBS Delinquency Rate Rises, Fueled by Office Sector

by Phil Hall | Aug 1, 2024 | Commercial Real Estate News, News/Current Events, Real Estate Investing, Real Estate News, WRE News Exclusive

The delinquency rate for commercial mortgage-backed securities (CMBS) rose by 8 basis points to 5.43% in July, with the office sector accounting for almost two-thirds of the newly delinquent loans in July. According to new data from Trepp Inc., the office delinquency...
Furniture Retailer Badcock to Shut Down, Closing 380 Stores

Furniture Retailer Badcock to Shut Down, Closing 380 Stores

by Phil Hall | Aug 1, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

Badcock Home Furniture & More, a 120-year-old furniture retailer based in Southern states, has begun a “going out of business” sale at all of its 380 stores. The New York Post reported the company’s shuttering follows last week’s bankruptcy filing by its parent...
Blackstone in Talks to Acquire Retail-Focused REIT

Blackstone in Talks to Acquire Retail-Focused REIT

by Phil Hall | Aug 1, 2024 | Commercial Real Estate News, News/Current Events, Real Estate Investing, Real Estate News, WRE News Exclusive

The private equity firm Blackstone (NYSE:BX) is reportedly in discussions to acquire Retail Opportunity Investments Corp (NASDAQ: ROIC), a real estate investment trust (REIT) focused on retail properties in the Western states. According to a Reuters report sourced...
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