#Fort Lauderdale Real Estate News & Residential Real Estate News - Residential Real Estate News Headl
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Clayton Christopher steps away from role at investment firm Cavu
After raising $365 million in its first two funds, there are some significant changes at CPG investor Cavu Venture Partners.
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T. Rowe Price beats first-quarter estimates on stock market recovery
T. Rowe Price Group Inc. saw its profit and revenue exceed Wall Street expectations in the first quarter after the stock market recovered from a rough December. The Baltimore-based money manager reported earnings of $512.6 million, or $2.09 per share, in the first quarter. That's up 13 percent from $453.7 million, or $1.77 per share, in the year-ago quarter. On an adjusted basis T. Rowe Price's net income rose 3.4 percent in the quarter to $460.6 million, or $1.87 per share, compared to $445.6…
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Former New York Life Insurance manager in Raleigh faces fraud charges
If convicted on all charges, he could face a maximum penalty of 20 years in prison, a $250,000 fine and restitution.
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Wells Fargo holds contentious annual meeting
Wells Fargo’s annual meeting in Dallas on Tuesday was a contentious affair, signaling that Tim Sloan’s abrupt resignation as CEO last month has done little to quell the bank’s critics. The shareholder gathering was marked by Wells Fargo & Co. (NYSE: WFC) interim CEO Allen Parker being interrupted more than a dozen times, with some shouting that the bank’s executives were “frauds” and “criminals,” Bloomberg News reported. Several shareholders were reportedly asked to leave the meeting…
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Wells Fargo holds contentious annual meeting
Wells Fargo’s annual meeting in Dallas Tuesday was a contentious affair, signaling that Tim Sloan’s abrupt resignation as CEO last month has done little to quell the bank’s critics. The shareholder gathering was marked by Wells Fargo interim CEO Allen Parker being interrupted more than a dozen times, with some shouting that the bank’s executives were “frauds” and “criminals,” Bloomberg News reported. Several shareholders were reportedly asked to leave the meeting after making outbursts. “Wells…
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PNC opens second Kansas City-area branch
As the Kansas City area gears up for a surge in new bank brands, Pittsburgh's largest bank opened its second local office six months after debuting its first. The new branch — which PNC Bank calls a Solutions Center — is at 1837 Grand Blvd. in Kansas City's Crossroads Arts District. It's on the northeast corner of Grand and 19th Street. The new location employs five people. "The (Crossroads) location is just incredible," said Dale Klose, Kansas City regional president for PNC Bank. "There is…
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Oprah has yet to visit her Orcas Island estate, but it may soon undergo remodel
Oprah Winfrey has not ever visited the 43-acre waterfront estate known as Madroneagle, which she bought for $8.3 million early last summer. I first wrote about the Catspaw Lane property in April 2016, in one of my weekly Patti Payne’s Cool Pads online features, when it was priced at $12 million, and then again last June when Winfrey closed the deal. Winfrey’s property manager Bob Greene, who scouted the estate for his famed boss, has been there several times, both before and after the sale…
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Airbnb hosts will gallop to big profits during Kentucky Derby
It's nearly impossible — and very expensive — to book a hotel room in Louisville for Kentucky Derby weekend, and Airbnb is growing as an option for visitors. The short-term home rental platform says 5,800 guests have booked homes in Louisville for May 3-5. This year's Derby is on Saturday, May 4. San Francisco-based Airbnb says Louisville hosts will have $2.5 million in income from the rentals. Those numbers are up a bit from this time last year, when Airbnb said about 5,700 visitors had…
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(PHOTOS) Cardi B and Offset buy 5 homes & 1 lot in Clayton County
Atlanta hip-hop stars Cardi B and Offset are the new owners of five rental homes and a buildable lot in Clayton County. Kiari Cephus, who goes by Cardi B, and Belcalis Almanzar, who performs as Offset, purchased the three-bedroom, one-bath homes and lot in the Lake Tara neighborhood of Jonesboro for a total of $250,000 on Jan. 18 from JMH Ventures, according to Clayton County property records. JMH Ventures LLC of Peachtree Corners is a real estate investment and renovation company. It buys…
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Pittsburgh area homes selling quickly, remain affordable
Homes are selling quickly in Western Pennsylvania, and, since a year ago, the average home sale price has dropped a bit. These were a couple of the highlights from West Penn Multi-List Inc.'s monthly report, which was released on Tuesday. "With interest rates down to almost 4 percent, buyers are getting more house for the money or lower monthly mortgage payments than they would have gotten just four months ago when rates were close to 5 percent," George Hackett, president of West Penn Multi-List…
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New R Street proposal would have apartments, retail
R Street in Sacramento would see another half block of new activity, with a proposal for a three-story project at what’s now a single-story warehouse.
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Sisterdale ranch along the Guadalupe River hits market for $14.5M
A ranch comprised of just over 880 acres has hit the market for $14,569,500, or about $16,500 per acre. Located near Sisterdale, Rancho Kendall offers premier equine facilities, three modern cabins, plentiful fresh water and a 3,600-foot paved airstrip situated amid seasoned live oaks, cypresses and limestone bluffs. The ranch, which is being marketed by Dave Culver of Hall and Hall, features a mile-long frontage along the Guadalupe River. The equine and related facilities are designed for performance…
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Fifth Third CEO on business lending: ‘Now we’re seeing the true growth of this company’
Fifth Third Bancorp’s first-quarter business lending grew at a faster pace than the bank expected, CEO Greg Carmichael told me, representing a key driver in its earnings beating analysts’ expectations on Tuesday. Average loans rose 6% last quarter to $98 billion at the Cincinnati-based Fifth Third. Commercial and industrial loans, a category that measures its business loans, jumped 10% to $46 billion. That’s the biggest category in its loan portfolio, and its an important gauge of the strength…
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Easy Expunctions raises more investor capital; anticipates growth
The most recent fundraising round was oversubscribed, which means more investors were interested in chipping in money than the total size of the round.
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Developer details $43.2M plan to transform Downtown West building into hotel
Fueling the developer's confidence in the market is the $175 million renovation and expansion of the convention center, which the St. Louis Convention and Visitors Commission (Explore St. Louis) said would bring a 40% spike in hotel demand.
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Raleigh fund manager accused of Ponzi scheme loses his attorney
Just a month before jury selection was scheduled to begin in his case, a former Raleigh fund manager accused in what the feds have described as a complex Ponzi scheme is without an attorney.
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