#business loan broker Gold Coast

[seoservice2024]

Business loan Gold Coast and Investment property loan broker Gold Coast

Seeking a business loan in Gold Coast or expert guidance for investment property loans? Look no further than Must Home, your trusted financing partner. Our team specializes in tailoring solutions for businesses and property investments. With Must Home, securing the right loan is seamless, ensuring your financial success.

[orchardlending]

Commercial Property Loan Outlook 2023

Due to inflation and cost of living pressure, commercial property investors are expected to be cautious until commercial property loan investment interest rates peak in 2023.After a tumultuous year in which the Reserve Bank raised interest rates eight times, 2022 ended on a sour note for the commercial real estate industry as activity slowed and investor confidence plummeted. Commercial property loan brokers are suitably preparing for the changes and outlook that 2023 is set to bring.

Future interest rate projections are clouded by uncertainties about how high they will go and for how long. However, Knight Frank's senior economist Ben Burston predicts that inflation will soon begin to moderate. He predicted in a Knight Frank analysis that by mid-2023 "confidence and liquidity" would be restored after an anticipated inflation turning point in early 2023 clarified the interest rate picture assisting commercial loans.

With the rising cost of financing, Vanessa Rader, head of research at Ray White Commercial, predicts sales volumes to stay low though 2023. While many buyers pull back, astute investors would profit from higher yields or even unoccupied assets, provided they are purchased at the correct price, Rader said.

Commercial Offices

Sydney and Melbourne's office vacancy rates did not improve in 2022 as much as real estate experts had predicted. The situation was not the same everywhere. Office markets in boom zones like Sunshine Coast, Gold Coast, and Perth, which have benefited from population expansions, are anticipated to maintain strong confidence, maintaining occupancy rates high and future prospects good.

As reported by Ken Morrison, CEO of the Property Council, latest numbers reveal that demand for office space has increased in Melbourne, the CBD with the lowest occupancy rates since the epidemic. In contrast, occupancy rates in Perth have reached 80%.

As the COVID situation returns to normal and individuals settle on a hybrid working method, he predicts that number will rise further after the holidays.

Commercial Property Accommodations and hotels

Despite the fact that tourists may travel anywhere in the world, domestic hotel business is expected to benefit from health and economic worries in 2023.The average daily hotel fee is expected to soar to new heights this year as occupancy rates continue to rise.

She predicted that this would "throw the emphasis back on hotel properties as an appealing investment opportunity," from large central business district holdings of interest to international purchasers to modest beach motels catering to the whole family (pets included) for the smaller private buyer. A "tremendous amount of investment into hotel and tourism assets including CBD assets," as Morrison put it, is behind the sector's remarkable recovery.

He noted that the market for student housing had also seen a significant uptick in 2022, something that had surprised many in the real estate industry. However, he did note that "international arrivals have returned significantly," despite the fact that they are coming primarily from outside of China. There is also substantial backing from students within the United States. Most of our cities' student housing facilities are at capacity. That industry needs additional investment, which we can hopefully encourage.

Medicine and the Health Sciences

Rapid expansion in the life sciences and healthcare industry is fore castes to continue in 2023, thanks to the increasing number of investors interested in alternative asset classes. Against the backdrop of an ageing population, personalized therapies, technology advances, future food transitions, and other agri-tech and marine technologies, "Australia's life sciences industry continues to grow gradually," Burston said.

Since 2019, the total number of businesses that fall within the category's umbrella has increased by 43%. Investors are keen to increase their support of healthcare infrastructure, be it for clinical research or patient care. Commercial property loans have also become more flexible to assist in this support.

Commercial and manufacturing

As a result of the structural shift towards online purchasing, retail assets have underperformed in recent years, whereas industrial assets have benefited. Because of this change in pricing, industrial yields are now significantly lower than retail yields. Burston predicted a shift in this dynamic, arguing that "retail [was] likely to be less sensitive to outward yield shift given a considerably greater starting position."

Moreover, he noted, the lease structure of retail assets is generally more equipped to transform increased inflation into income increases.

According to him, "both of these pressures will operate to minimize the vast disparity between the sectors," and as a result, fewer investors would focus on retail exclusively.

According to Rader, the retail asset class is still evolving in step with consumers' changing purchasing preferences, and by 2023, shopping malls may have to rely on industries other than retail. While dining is expected to remain popular, other uses such as daycare and shared office space may fill in at peak times like the summer and winter holidays.

The foundations of the commercial industrial sector, including the high demand for logistical spaces, are expected to stay unchanged, according to experts.

Rader projected that small company owners would seek out assets to "shield against probable rises in rents" as a result of the rent hikes that he expected to come about

Property Development Completion

Burston predicted that 2023 will be a landmark year for development completions, with Brisbane and Melbourne setting the pace. He argued that this would not be enough to return to a "normal" equilibrium between supply and demand.

[mortgagebrokergoldcoast]

What Mortgage Brokers Are All About: The Basics

A summary іѕ provided аt thе bоttоm оf thе article bоdу undеr Thе Final Word... fоr thоѕе speed demons аmоngѕt уоu readers.

Fоr thоѕе оf уоu thаt аrе totally fresh оn thе mortgage scene, let's cover thе basics. A mortgage іѕ whеn уоu charge property tо a creditor аѕ security fоr a debt. Whаt thаt means іn plain English іѕ уоu gіvе a portion оf уоur property's ownership tо a bank fоr money. Mortgages аrе оnе оf thе biggest loans іn banking today, making уоur іntеrеѕt rate аll thе mоrе important. Mortgages typically tаkе thirty оr mоrе years tо pay оff, аnd аrе a good percentage оf mаnу people's monthly payments.

Nоw, whаt іѕ a mortgage broker? Thеу аrе ѕоmеоnе whо facilitates thіѕ exchange оf property ownership fоr money. Thеу саn bе a раrt оf a bank, credit union, оr оthеr lender's paid staff, оr thеу саn bе independent аftеr thеу gаіn ѕоmе years оf experience. Fоr оur purposes, we're going tо саll private mortgage brokers just "mortgage brokers" аnd mortgage brokers whо work fоr a bank оr оthеr lender "bank staff."

Sо, hоw аrе mortgage brokers paid? Althоugh thеrе аrе a number оf differing methods, thеу аrе mоѕtlу paid thrоugh thе lender thеу gіvе thе loan tо. Of course, thаt means thаt thе service thеу provide tо уоu іѕ potentially free оf charge. Sоmе аlѕо charge thе person seeking a mortgage a lump sum оf a fеw hundrеd dollars оr ѕо, thоugh еvеrу mortgage broker іѕ free tо choose thеіr оwn prices аnd fоrm оf payment ѕіnсе thеу аrе аn independent business. Whеn speaking tо mortgage brokers, make sure tо inquire аbоut thе method оf payment.

Arе thеrе downsides tо using a mortgage broker? Yes. Thе major downside оf using thеm аѕ opposed tо bank staff іѕ thаt thеу thеmѕеlvеѕ dо nоt hаvе access tо thе funds you're requesting. If funding іѕ required аѕ аn emergency, thеn approaching a bank оr lender's staff directly іѕ probably thе best option. Stіll thіѕ іѕ nоt necessarily thе case. Bank staff hаvе, оn average, lеѕѕ experience аnd mау hаvе a large number оf clients аnd оthеr work tо deal wіth аѕ wеll аѕ a lоng chain оf hierarchy аnd bureaucracy tо work thrоugh. Mortgage brokers, оn thе оthеr hаnd, prepare еvеrуthіng fоr thе bank ahead оf tіmе аnd present іt directly tо a bank official, allowing thеm tо skip certain members оf thе bank hierarchy аnd gеt tо a simple decision.

If mortgage brokers don't hаvе thе funds thеmѕеlvеѕ, thеn whу choose оnе оvеr a bank? Thе benefit оf using thеіr services оvеr thоѕе оf bank staff іѕ thаt thеу wіll make thе lenders compete fоr уоur business аnd оftеn hаvе special deals set uр thrоugh thе lenders thаt оnlу thеу hаvе access tо. Typically, thеу hаvе аn arsenal оf ѕоmеwhеrе аrоund thirty different lenders tо choose frоm аnd make compete fоr thеіr business, giving уоu a wide range оf options. Thіѕ makes thеіr service worth potentially thousands оr millions оf dollars depending оn thе value оf thе property you're seeking a mortgage fоr. Check thіѕ оut: a mortgage оf $50,000 аt just a %1 lower іntеrеѕt rate оvеr thе standard 30 years saves аrоund $15,000 depending оn whеn іntеrеѕt оn thе principle аmоunt іѕ recalculated.

A ѕеrіоuѕ concern whеn approaching mortgage brokers іѕ mortgage fraud, ѕо hоw dо уоu know thаt a mortgage broker іѕ credible? Wіthіn thе United States оf America, thе Better Business Bureau gives accreditation tо mortgage brokers thаt саn prove thеіr experience іn thе field аnd swear tо uphold a code оf ethical practices, muсh like thе оnе doctors аrе sworn tо uphold. Stіll, thеrе аrе mаnу, mаnу different business organizations thаt offer similar accreditation, ѕо make sure tо investigate thе agency bеfоrеhаnd. In mоѕt modern nations today thеrе іѕ аn organization thаt gives thіѕ type оf accreditation, ѕо ask mortgage brokers іn уоur оwn nation whаt accreditation thеу hаvе аnd whаt іt means tо thеm.

Whаt wоuld good mortgage brokers dо fоr you? Good mortgage brokers wоuld ask hоw muсh money уоu need tо hаvе lent, thе аmоunt уоu саn afford tо pay еасh month, аnd thе tіmе you'd like tо hаvе thе mortgage paid оff wіthіn. Good mortgage brokers wоuld appear professional аnd bе cordial аnd hospitable whіlе sticking tо business аnd nоt wasting уоur tіmе. Thеу mау present ѕеvеrаl different options tо уоu tо include уоur оwn reason аnd decision-making abilities іn thе mortgage acquisition process whіlе simultaneously recommending whаt іѕ probably thе best option fоr уоu. Thеу wоuld аlwауѕ offer уоu greater savings thаn thе price оf thеіr оwn services. Abоvе аll, good mortgage brokers wоuld kеер іn mind what's best fоr уоu аnd уоur loved ones аbоvе аnу private concerns іn thеіr оwn іntеrеѕt.

Thе Final Word...

A mortgage broker independent frоm a bank оr lender ѕhоuld аlwауѕ bе able tо offer уоu mоrе savings thаn thе cost оf thеіr services. Othеrwіѕе, thеіr profession wоuld bе worthless tо people ѕіnсе іt wоuld contain nо real value. Althоugh it's nоt аlwауѕ thе case, thеу аrе mоrе likely tо hаvе thеіr clients' best interests іn mind оvеr thоѕе оf thе banks аnd corporations thеу serve. Alwауѕ ask іf thеу follow a code оf ethical business practices аѕ a раrt оf thеіr certification.

Website: https://brokerco.com.au/mortgage-broker-gold-coast/

Contact Information

BrokerCo

Address:- 2/194 Varsity Parade,Varsity Lakes,QLD,4227

Phone:-07 55548585

Email:- info@brokerco.com.au

External Links: 

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[aquallisfinance]

Aquallis Finance - Mortgage Broker Gold Coast

At Aquallis Finance our Gold Coast Mortgage Brokers take the time to get to know each and every customer and help turn their dreams into reality. From application to settlement and beyond, we pledge to offer the highest quality of service. By utilising the experience and connections of our home loan brokers, you can ensure you get the best advice and rates on offer, and best of all, our service to you is completely free.

Whether you are a first time home buyer, looking to refinance your home loans or buy your next home our team are here to help guide you through the process. We can also assist experienced property investors and self employed business owners looking for a low doc finance.

Call us today and let us do the heavy lifting to make buying your new home easier.

Contact Information: 2/18 Blanck St, Ormeau, QLD 4208, Australia 0450 277 554 https://aquallisfinance.com.au contact@aquallisfinance.com.au

[gc-mortgages-blog]

GC Mortgages - Commercial Loan Broker Gold Coast

Get customized help to find the best loan for your commercial investment property with GC Mortgages. Our professional commercial loan broker on Gold Coast assists you with various business and commercial financing options. Speak to us now, and we will help you find the most suitable loan for your needs.

[proflendingsolutions]

Home Loans Gold Coast

Looking to secure a home loan on the Gold Coast? Chat with one of our expert mortgage brokers and experience the difference today. Contact Professional Lending Solutions, Gold Coast Mortgage Broker, and Home Loan Specialist in Bundall. Call us for advice on home loans, car loans, business lending, financial planning, and more.

[alfredrserrano]

National Cheat Sheet: Och-Ziff to launch $2B real estate fund … & more

Clockwise from top left: WeWork drops non-compete agreements for hundreds of employees after settlement with NY Attorney General Barbara Underwood, Och-Ziff Capital Management Group’s $2B real estate fund will target opportunistic investments, Henri Bendel to close all of its stores after 123 years in business, and Around one in six Americans would borrow against their homes to pay bills.

Och-Ziff Capital Management Group’s $2B real estate fund will target opportunistic investments Och-Ziff Capital Management Group hopes to raise a $2 billion private equity fund that would target real estate, according to Bloomberg. This will be billionaire Daniel Och’s fourth fund targeting opportunistic investments and his firm’s largest real estate-targeted investment vehicle yet. “In the foreseeable future, we think we’re extremely good in credit and in real estate,” CEO Robert Shafir told investors last month. “What you will see is extensions that are local adjacencies to those core businesses.” Och-Siff also aims to raise $150 million for an affordable-housing fund and $750 million for a real estate debt fund. [TRD]

WeWork drops non-compete agreements for hundreds of employees after settlement Hundreds of WeWork employees across the country will no longer be subject to stringent non-compete agreements. Almost all of the coworking behemoth’s employees were required to sign agreements that kept them from taking jobs with competitors, but after a settlement stemming from an investigation by the New York Attorney General’s office, the company agreed to release 800 New York-based employees from their agreements and to make the new policy a nationwide one. As part of the new policy, an additional 600 employees across the country won’t be bound by non-compete agreements, and 1,800 employees will be subject to less restrictive agreements. The settlement was “a key step forward for WeWork’s thousands of employees in New York and across the country,” Attorney General Barbara Underwood said in a statement. [TRD]

Henri Bendel to close all of its stores after 123 years in business Luxury retailer Henri Bendel is closing all of its stores after 123 years in business, according to CNN. The retailer’s parent company L Brands made the decision to close the remaining 23 stores in an effort “to improve company profitability and focus on our larger brands that have greater growth potential” — Victoria’s Secret and Bath & Body Works, to name a few — as Henri Bendel wasn’t doing well sales-wise. After L Brands bought Bendel in the 1980s, it expanded the store into 11 states. Bendel’s 86,000-square-foot flagship store on Fifth Avenue in Manhattan, its Chicago and Miami-area stores and its outpost at the Beverly Center in Los Angeles will all be shuttering after the holidays, this coming January. [TRD]

Around 1 in 6 Americans say they would borrow against their homes to pay bills Approximately one in six U.S. homeowners would take out a loan secured by their home in order to pay household bills, a new Bankrate.com report found. That’s around 24 million homeowners, according to the report, which found that people who earned less and were less educated were more likely to make that choice. A majority of homeowners who took part in the survey, however, said that home improvements or repairs were the best reason to borrow against their homes. The report also indicated that while some homeowners said they would borrow against their homes, not many are doing so. The survey result “speaks to how far some households are stretched on a monthly basis,” Bankrate chief financial analyst Greg McBride said. [TRD]

MAJOR MARKET HIGHLIGHTS

Long-vacant Times Square theater getting $100M revamp Stillman Development and South Korean financial firm Daishin Securities Co. plan to renovate the Times Square Theater on West 42nd Street, the Wall Street Journal reported. Stillman Development has a 73-year lease for the theater, and the company hopes to draw entertainment-centric retailers to the space. Colliers International’s Brad Mendelson, who is handling the lease, said that could include brands like Apple, Amazon and Coca-Cola. President Roy Stillman, meanwhile, said they’re aiming to “design a project that would be insulated from the risks of e-commerce.” [TRD]

Chicago mansion that hosted four Playboy shoots hits the market Prospective homeowners searching for a new place in Chicago could land a mansion that’s hosted four Playboy photo spreads, Crain’s first reported. The owners of the 7,000-square-foot Gold Coast home put it on the market for $4.9 million. The mansion has a third-floor addition made of glass and a master bedroom with mirrors on the ceiling. Jameson Sotheby’s International Realty agent Duane Shumaker, who’s listing the house, described it as “sexy.” [TRD]

Luxury rental building on the Fort Lauderdale waterfront could fetch $160M A new luxury development on the water in Fort Lauderdale could fetch anywhere from $160 million to $170 million, according to Cushman & Wakefield broker Robert Given. Broadstone Harbor Beach, which houses 394 luxury apartment units, is unique because it’s “very rare to have a rental building on the Intracoastal or the water in South Florida,” said Given, who is listing the property along with Cushman & Wakefield’s Zachary Sackley, Troy Ballard and Neal Victor. “Most are condo projects,” he added. The site was previously home to Ocean World marine park, and is near the Broward Convention Center. [TRD]

CEO of Atlanta-based real estate investment trust Cousins Properties stepping down The CEO of Atlanta-based real estate investment trust Cousins Properties is stepping down, Bisnow reported. Larry Gellerstedt, who’s been CEO since 2009, will take on the role of executive chairman. Colin Connolly, the trust’s president, will become the new CEO next year. “Colin’s promotion is part of a deliberate and planned succession effort that will allow Cousins Properties to benefit from his ideas, energy and strategic leadership skills, while continuing its evolution into a larger, highly focused company,” Gellerstedt said in a statement provided to the outlet. [Bisnow]

More and more Denver residents are looking for homes in other cities More and more people who live in the Denver metro area are looking to buy homes in other cities, the Denver Post reported. A Redfin study found that there were more people from Denver searching for homes in other cities than were people from other cities searching for homes in Denver, according to the outlet. Residents who live in Denver may be looking for more affordable properties, since the median home price in the city is currently $406,000, according to the outlet. Denver residents seemed most interested in moving to Seattle, according to the study. They were also interested in places like Colorado Springs and Fort Collins. [DP]

Brightline buys high-speed rail between LA and Las Vegas Traveling between Los Angeles and Las Vegas will soon take half the time. Florida-based firm Brightline plans to buy a high-speed rail project called “XpressWest” that will get passengers from Southern California to Las Vegas in about 80 minutes — far less than the time it takes to drive between the two cities now. The firm plans to start construction in 2019 and to launch its service in 2022. “Brightline is changing transportation in our country by connecting heavily trafficked corridors that are too long to drive and to short to fly,” Wes Edens, the co-founder and co-chief executive officer of Brightline parent company Fortress Investment Group, said of the project. A round trip ticket on the rail line will cost around $89. [TRD]

from The Real Deal Miami https://therealdeal.com/2018/09/21/national-cheat-sheet-och-ziff-to-launch-2b-real-estate-fund-more/#new_tab via IFTTT

[juditmiltz]

National Cheat Sheet: Och-Ziff to launch $2B real estate fund … & more

Clockwise from top left: WeWork drops non-compete agreements for hundreds of employees after settlement with NY Attorney General Barbara Underwood, Och-Ziff Capital Management Group’s $2B real estate fund will target opportunistic investments, Henri Bendel to close all of its stores after 123 years in business, and Around one in six Americans would borrow against their homes to pay bills.

Och-Ziff Capital Management Group’s $2B real estate fund will target opportunistic investments Och-Ziff Capital Management Group hopes to raise a $2 billion private equity fund that would target real estate, according to Bloomberg. This will be billionaire Daniel Och’s fourth fund targeting opportunistic investments and his firm’s largest real estate-targeted investment vehicle yet. “In the foreseeable future, we think we’re extremely good in credit and in real estate,” CEO Robert Shafir told investors last month. “What you will see is extensions that are local adjacencies to those core businesses.” Och-Siff also aims to raise $150 million for an affordable-housing fund and $750 million for a real estate debt fund. [TRD]

WeWork drops non-compete agreements for hundreds of employees after settlement Hundreds of WeWork employees across the country will no longer be subject to stringent non-compete agreements. Almost all of the coworking behemoth’s employees were required to sign agreements that kept them from taking jobs with competitors, but after a settlement stemming from an investigation by the New York Attorney General’s office, the company agreed to release 800 New York-based employees from their agreements and to make the new policy a nationwide one. As part of the new policy, an additional 600 employees across the country won’t be bound by non-compete agreements, and 1,800 employees will be subject to less restrictive agreements. The settlement was “a key step forward for WeWork’s thousands of employees in New York and across the country,” Attorney General Barbara Underwood said in a statement. [TRD]

Henri Bendel to close all of its stores after 123 years in business Luxury retailer Henri Bendel is closing all of its stores after 123 years in business, according to CNN. The retailer’s parent company L Brands made the decision to close the remaining 23 stores in an effort “to improve company profitability and focus on our larger brands that have greater growth potential” — Victoria’s Secret and Bath & Body Works, to name a few — as Henri Bendel wasn’t doing well sales-wise. After L Brands bought Bendel in the 1980s, it expanded the store into 11 states. Bendel’s 86,000-square-foot flagship store on Fifth Avenue in Manhattan, its Chicago and Miami-area stores and its outpost at the Beverly Center in Los Angeles will all be shuttering after the holidays, this coming January. [TRD]

Around 1 in 6 Americans say they would borrow against their homes to pay bills Approximately one in six U.S. homeowners would take out a loan secured by their home in order to pay household bills, a new Bankrate.com report found. That’s around 24 million homeowners, according to the report, which found that people who earned less and were less educated were more likely to make that choice. A majority of homeowners who took part in the survey, however, said that home improvements or repairs were the best reason to borrow against their homes. The report also indicated that while some homeowners said they would borrow against their homes, not many are doing so. The survey result “speaks to how far some households are stretched on a monthly basis,” Bankrate chief financial analyst Greg McBride said. [TRD]

MAJOR MARKET HIGHLIGHTS

Long-vacant Times Square theater getting $100M revamp Stillman Development and South Korean financial firm Daishin Securities Co. plan to renovate the Times Square Theater on West 42nd Street, the Wall Street Journal reported. Stillman Development has a 73-year lease for the theater, and the company hopes to draw entertainment-centric retailers to the space. Colliers International’s Brad Mendelson, who is handling the lease, said that could include brands like Apple, Amazon and Coca-Cola. President Roy Stillman, meanwhile, said they’re aiming to “design a project that would be insulated from the risks of e-commerce.” [TRD]

Chicago mansion that hosted four Playboy shoots hits the market Prospective homeowners searching for a new place in Chicago could land a mansion that’s hosted four Playboy photo spreads, Crain’s first reported. The owners of the 7,000-square-foot Gold Coast home put it on the market for $4.9 million. The mansion has a third-floor addition made of glass and a master bedroom with mirrors on the ceiling. Jameson Sotheby’s International Realty agent Duane Shumaker, who’s listing the house, described it as “sexy.” [TRD]

Luxury rental building on the Fort Lauderdale waterfront could fetch $160M A new luxury development on the water in Fort Lauderdale could fetch anywhere from $160 million to $170 million, according to Cushman & Wakefield broker Robert Given. Broadstone Harbor Beach, which houses 394 luxury apartment units, is unique because it’s “very rare to have a rental building on the Intracoastal or the water in South Florida,” said Given, who is listing the property along with Cushman & Wakefield’s Zachary Sackley, Troy Ballard and Neal Victor. “Most are condo projects,” he added. The site was previously home to Ocean World marine park, and is near the Broward Convention Center. [TRD]

CEO of Atlanta-based real estate investment trust Cousins Properties stepping down The CEO of Atlanta-based real estate investment trust Cousins Properties is stepping down, Bisnow reported. Larry Gellerstedt, who’s been CEO since 2009, will take on the role of executive chairman. Colin Connolly, the trust’s president, will become the new CEO next year. “Colin’s promotion is part of a deliberate and planned succession effort that will allow Cousins Properties to benefit from his ideas, energy and strategic leadership skills, while continuing its evolution into a larger, highly focused company,” Gellerstedt said in a statement provided to the outlet. [Bisnow]

More and more Denver residents are looking for homes in other cities More and more people who live in the Denver metro area are looking to buy homes in other cities, the Denver Post reported. A Redfin study found that there were more people from Denver searching for homes in other cities than were people from other cities searching for homes in Denver, according to the outlet. Residents who live in Denver may be looking for more affordable properties, since the median home price in the city is currently $406,000, according to the outlet. Denver residents seemed most interested in moving to Seattle, according to the study. They were also interested in places like Colorado Springs and Fort Collins. [DP]

Brightline buys high-speed rail between LA and Las Vegas Traveling between Los Angeles and Las Vegas will soon take half the time. Florida-based firm Brightline plans to buy a high-speed rail project called “XpressWest” that will get passengers from Southern California to Las Vegas in about 80 minutes — far less than the time it takes to drive between the two cities now. The firm plans to start construction in 2019 and to launch its service in 2022. “Brightline is changing transportation in our country by connecting heavily trafficked corridors that are too long to drive and to short to fly,” Wes Edens, the co-founder and co-chief executive officer of Brightline parent company Fortress Investment Group, said of the project. A round trip ticket on the rail line will cost around $89. [TRD]

from The Real Deal Miami https://therealdeal.com/2018/09/21/national-cheat-sheet-och-ziff-to-launch-2b-real-estate-fund-more/#new_tab via IFTTT

[abdulfrancisco-blog]

Vehicle

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[nicolesrollins]

National Cheat Sheet: Cushman & Wakefield files for IPO … & more

Clockwise from top left: Eastern Consolidated set to close (credit: Eastern Consolidated, Facebook, and iStock), Cushman & Wakefield files for IPO (credit: Vornado Realty Trust), LaSalle Hotel Properties sticks with Blackstone bid (credit: Booking), and EXp Realty doubles its broker count (credit: Eastern Consolidated, Facebook, and iStock).

Cushman & Wakefield officially files for an initial public offering Last month, sources told The Real Deal that Cushman & Wakefield planned to file for an initial public offering, and this week, the global commercial brokerage made it official by filing its paperwork with the Securities and Exchange Commission. Cushman didn’t say how many shares it plans to offer — or at what price. In December, the brokerage’s competitor, Newmark Knight Frank, had its own $615 million initial public offering, which garnered lukewarm results initially. JP Morgan, Goldman Sachs, UBS Investment Bank and Morgan Stanley will be the book-runners for Cushman’s offering. [TRD]

Eastern Consolidated’s closing puts its brokers back on the market Eastern Consolidated’s founding couple Peter Hauspurg and Daun Paris announced last week that the commercial brokerage would be closing, after they’d made a failed attempt at finding a buyer. The firm follows in the footsteps of Town Residential, which announced its closing back in April. Its closure is putting around 100 brokers back on the market, sparking a recruitment frenzy, according to sources. [TRD]

Nearly 40 million American households are cost-burdened, according to a report Almost a third of American households, or nearly 40 million households, spent more than 30 percent of their incomes on housing in 2016, according to a new Harvard University Joint Center for Housing Studies report. That number decreased since 2015, but the market hasn’t improved much for renters since the recession, the report found. The share of renters who are cost burdened is at about 47 percent, according to the findings. [TRD]

LaSalle sticks with Blackstone despite increased Pebblebrook offer Pebblebrook Hotel Trust’s increased offer to acquire LaSalle Hotel Properties wasn’t enough to derail Blackstone Group’s bid for the real estate investment trust company. LaSalle is standing by its preference for Blackstone, saying that Pebblebrook’s new offer “does not constitute, and could not reasonably be expected to lead to, a ‘superior proposal.’” Nevertheless, Pebblebrook has increased its stake in LaSalle to 10 million shares. Pebblebrook chairman and CEO Jon Bortz has claimed LaSalle shareholders support an acquisition by his company. The Blackstone deal values LaSalle at $4.8 billion. [TRD]

‘Cloud brokerage’ EXp Realty doubles the number of brokers it employs A “cloud brokerage” where agents navigate a virtual office and use avatars to make deals has doubled the number of agents it employs. EXp Realty now has 12,000 agents, Inman reported. Last month, it crossed a $1 billion market cap on the first day it started trading on the Nasdaq. The brokerage has grown by 85 percent since the beginning of the year, according to its founder Glenn Sanford, and recently expanded into Canada. [Inman]

MAJOR MARKET HIGHLIGHTS

Related Companies hopes to secure DOT loan for New York Hudson Yards project The developer behind the Hudson Yards development on Manhattan’s west side is hoping to secure a $1 billion low-interest loan from the U.S. Department of Transportation’s Railroad Rehabilitation & Improvement Financing federal loan program, Politico first reported. Related Companies would use the loan to complete Hudson Yards’ next phase. The money would come from the same source from which the Gateway project has tried to secure funding. Related will have to team up with a railroad partner to access the funds. [TRD]

Buyers with ties to Russia spent millions on Trump properties in Florida and NYC Buyers with ties to Russia or former Soviet republics have shelled out millions of dollars in cash for Trump properties in Sunny Isles, Florida and New York City, according to a McLatchy analysis reported by the Miami Herald. The buyers spent $109 million on 86 properties in the two areas, and many of the deals used shell companies. “The millions of dollars in previously unreported, all-cash real estate deals we discovered raise troubling questions about who is funding [Trump’s] businesses, why, and what they’re getting in return,” the communications director for the Trump War Room at American Bridge told McClatchy. [TRD]

Amoeba Music co-owners hope to sell recreational weed at new LA store The co-owners of iconic Sunset Boulevard music store Amoeba Music say they want to snag a marijuana dispensary permit and sell recreational pot when they move to their new, yet-to-be-determined location nearby. Marc Weinstein and Dave Prinz sold the store to a developer for $34 million several years ago and plan to move to a new location next year. If the store gets a permit, it will follow in the footsteps of Amoeba Music’s Berkeley branch, which started selling pot from a “boutique dispensary” called Hi-Fidelity next to its store in May. [TRD]

CNBC star Marcus Lemonis sells Chicago condo for $3.25M Marcus Lemonis, the star of CNBC’s “The Profit,” has sold his Gold Coast condo for $3.25 million — turning a profit on the three-bedroom home, which he bought for $3 million in August 2016. The home, which has more than two dozen floor-to-ceiling windows, took only took about a month to sell to its unidentified buyer. It’s adjacent to the Tremont Chicago Hotel and near a historic mansion that’s currently on the market. [TRD]

39 San Fran high-rises could collapse during an earthquake, study finds Thirty-nine high-rises in San Francisco were built using a “defective construction method” and could end up collapsing if the city experiences an 8-magnitude earthquake, according to a new government study. Builders reportedly started using the method in the 1980s. An earthquake engineering expert told the New York Times the problem should have been addressed years ago. “This is an issue that structural engineers should have been dealing with continuously since the mid-1990s and we just dropped it,” he said. [TRD]

from The Real Deal Miami & Real Estate News News | & Curbed Miami - All https://therealdeal.com/2018/06/22/national-cheat-sheet-cushman-wakefield-files-for-ipo-more/#new_tab via IFTTT

[walterfrodriguez]

National Cheat Sheet: Cushman & Wakefield files for IPO … & more

Clockwise from top left: Eastern Consolidated set to close (credit: Eastern Consolidated, Facebook, and iStock), Cushman & Wakefield files for IPO (credit: Vornado Realty Trust), LaSalle Hotel Properties sticks with Blackstone bid (credit: Booking), and EXp Realty doubles its broker count (credit: Eastern Consolidated, Facebook, and iStock).

Cushman & Wakefield officially files for an initial public offering Last month, sources told The Real Deal that Cushman & Wakefield planned to file for an initial public offering, and this week, the global commercial brokerage made it official by filing its paperwork with the Securities and Exchange Commission. Cushman didn’t say how many shares it plans to offer — or at what price. In December, the brokerage’s competitor, Newmark Knight Frank, had its own $615 million initial public offering, which garnered lukewarm results initially. JP Morgan, Goldman Sachs, UBS Investment Bank and Morgan Stanley will be the book-runners for Cushman’s offering. [TRD]

Eastern Consolidated’s closing puts its brokers back on the market Eastern Consolidated’s founding couple Peter Hauspurg and Daun Paris announced last week that the commercial brokerage would be closing, after they’d made a failed attempt at finding a buyer. The firm follows in the footsteps of Town Residential, which announced its closing back in April. Its closure is putting around 100 brokers back on the market, sparking a recruitment frenzy, according to sources. [TRD]

Nearly 40 million American households are cost-burdened, according to a report Almost a third of American households, or nearly 40 million households, spent more than 30 percent of their incomes on housing in 2016, according to a new Harvard University Joint Center for Housing Studies report. That number decreased since 2015, but the market hasn’t improved much for renters since the recession, the report found. The share of renters who are cost burdened is at about 47 percent, according to the findings. [TRD]

LaSalle sticks with Blackstone despite increased Pebblebrook offer Pebblebrook Hotel Trust’s increased offer to acquire LaSalle Hotel Properties wasn’t enough to derail Blackstone Group’s bid for the real estate investment trust company. LaSalle is standing by its preference for Blackstone, saying that Pebblebrook’s new offer “does not constitute, and could not reasonably be expected to lead to, a ‘superior proposal.’” Nevertheless, Pebblebrook has increased its stake in LaSalle to 10 million shares. Pebblebrook chairman and CEO Jon Bortz has claimed LaSalle shareholders support an acquisition by his company. The Blackstone deal values LaSalle at $4.8 billion. [TRD]

‘Cloud brokerage’ EXp Realty doubles the number of brokers it employs A “cloud brokerage” where agents navigate a virtual office and use avatars to make deals has doubled the number of agents it employs. EXp Realty now has 12,000 agents, Inman reported. Last month, it crossed a $1 billion market cap on the first day it started trading on the Nasdaq. The brokerage has grown by 85 percent since the beginning of the year, according to its founder Glenn Sanford, and recently expanded into Canada. [Inman]

MAJOR MARKET HIGHLIGHTS

Related Companies hopes to secure DOT loan for New York Hudson Yards project The developer behind the Hudson Yards development on Manhattan’s west side is hoping to secure a $1 billion low-interest loan from the U.S. Department of Transportation’s Railroad Rehabilitation & Improvement Financing federal loan program, Politico first reported. Related Companies would use the loan to complete Hudson Yards’ next phase. The money would come from the same source from which the Gateway project has tried to secure funding. Related will have to team up with a railroad partner to access the funds. [TRD]

Buyers with ties to Russia spent millions on Trump properties in Florida and NYC Buyers with ties to Russia or former Soviet republics have shelled out millions of dollars in cash for Trump properties in Sunny Isles, Florida and New York City, according to a McLatchy analysis reported by the Miami Herald. The buyers spent $109 million on 86 properties in the two areas, and many of the deals used shell companies. “The millions of dollars in previously unreported, all-cash real estate deals we discovered raise troubling questions about who is funding [Trump’s] businesses, why, and what they’re getting in return,” the communications director for the Trump War Room at American Bridge told McClatchy. [TRD]

Amoeba Music co-owners hope to sell recreational weed at new LA store The co-owners of iconic Sunset Boulevard music store Amoeba Music say they want to snag a marijuana dispensary permit and sell recreational pot when they move to their new, yet-to-be-determined location nearby. Marc Weinstein and Dave Prinz sold the store to a developer for $34 million several years ago and plan to move to a new location next year. If the store gets a permit, it will follow in the footsteps of Amoeba Music’s Berkeley branch, which started selling pot from a “boutique dispensary” called Hi-Fidelity next to its store in May. [TRD]

CNBC star Marcus Lemonis sells Chicago condo for $3.25M Marcus Lemonis, the star of CNBC’s “The Profit,” has sold his Gold Coast condo for $3.25 million — turning a profit on the three-bedroom home, which he bought for $3 million in August 2016. The home, which has more than two dozen floor-to-ceiling windows, took only took about a month to sell to its unidentified buyer. It’s adjacent to the Tremont Chicago Hotel and near a historic mansion that’s currently on the market. [TRD]

39 San Fran high-rises could collapse during an earthquake, study finds Thirty-nine high-rises in San Francisco were built using a “defective construction method” and could end up collapsing if the city experiences an 8-magnitude earthquake, according to a new government study. Builders reportedly started using the method in the 1980s. An earthquake engineering expert told the New York Times the problem should have been addressed years ago. “This is an issue that structural engineers should have been dealing with continuously since the mid-1990s and we just dropped it,” he said. [TRD]

from The Real Deal Miami & Real Estate News News | & Curbed Miami - All https://therealdeal.com/2018/06/22/national-cheat-sheet-cushman-wakefield-files-for-ipo-more/#new_tab via IFTTT

[rossmarais]

EP 04 - Matt McGregor - Interview

Matt is a 24 year old mortgage broker who is based on the Gold Coast, for the last 2 years he has been helping everyday Australians find a home loan and achieve the Australian dream. From first home buyers to seasoned property investors, Matt enjoys the challenge of having to deal with all of the ups and downs that come with working in the property industry.    

Episode Sponsor  

This episode is brought to you by More Time Financial. A financial planning, money management and financial education company who are on a mission to help young Australians make smarter decisions with their money.

  While working full time Matt have been studying part-time at university to complete his Bachelor of Commerce degree in Accounting & Marketing. Being in finance industry since he was 22 years old, Matt discusses the challenges of transitioning from school to university and into the workforce, the importance of finding a mentor to work for and learn from when you are young and inexperienced and the benefits of working in a small business and being able to see how a business runs from the ground up.

Matt is a big believer in the importance of financial education and would strongly recommend that all schools implement a compulsory money management subject. With plans to one day start his own business Matt is happy to soak up as much experience as possible while working for someone else.

Key Questions:

Q - What does money mean to you?  

A - Money is the freedom to live your life the way you want to live it.

Q - What impact do you see social media having on our generation?  

A - Social media is poison, it breeds insecurity, which leads to compulsive buying behaviour like buying new clothes and cars, which then leads to bias agendas. My recommendation is to just switch it off.

  Matt’s top tips for getting into the property market:

Go seek professional help from a financial planner to help you put in place a good budget to save your deposit

Put in place a plan to help you control your money.

Find a good mortgage broker that is willing to hold your hand through the process and educate you.

Don't buy stuff before you can afford to.

About Me: Ross Marais

I am a Gen Y Financial Adviser & Lifestyle Planner. CoFounder of More Time Financial. For the past 4 years I have been on a mission to help young Australians make smarter decisions with their money.

  Follow me Online Here:

Website | rossmarais.com

Instagram | Instagram@rossmarais

Youtube | Youtube@rossmarais

Facebook | Facebook@rossmaraisoffical

Twitter | Twitter@rossmaraisfp

LinkedIn | LinkedIn@rossmarais

Medium | Medium@rossmarais

This Episode was created with the assistance of the very talented team at Udeo Media.

My Website hosted by Blue Host 

Check out this episode!

[aquallisfinance]

At Aquallis Finance our Gold Coast Mortgage Brokers take the time to get to know each and every customer and help turn their dreams into reality. From application to settlement and beyond, we pledge to offer the highest quality of service. By utilising the experience and connections of our home loan brokers, you can ensure you get the best advice and rates on offer, and best of all, our service to you is completely free. 

Whether you are a first time home buyer, looking to refinance your home loans or buy your next home our team are here to help guide you through the process. We can also assist experienced property investors and self employed business owners looking for a low doc finance.  Call us today 0450 277 554 and let us do the heavy lifting to make buying your new home easier.

[alfredrserrano]

National Cheat Sheet: Och-Ziff to launch $2B real estate fund … & more

Clockwise from top left: WeWork drops non-compete agreements for hundreds of employees after settlement with NY Attorney General Barbara Underwood, Och-Ziff Capital Management Group’s $2B real estate fund will target opportunistic investments, Henri Bendel to close all of its stores after 123 years in business, and Around one in six Americans would borrow against their homes to pay bills.

Och-Ziff Capital Management Group’s $2B real estate fund will target opportunistic investments Och-Ziff Capital Management Group hopes to raise a $2 billion private equity fund that would target real estate, according to Bloomberg. This will be billionaire Daniel Och’s fourth fund targeting opportunistic investments and his firm’s largest real estate-targeted investment vehicle yet. “In the foreseeable future, we think we’re extremely good in credit and in real estate,” CEO Robert Shafir told investors last month. “What you will see is extensions that are local adjacencies to those core businesses.” Och-Siff also aims to raise $150 million for an affordable-housing fund and $750 million for a real estate debt fund. [TRD]

WeWork drops non-compete agreements for hundreds of employees after settlement Hundreds of WeWork employees across the country will no longer be subject to stringent non-compete agreements. Almost all of the coworking behemoth’s employees were required to sign agreements that kept them from taking jobs with competitors, but after a settlement stemming from an investigation by the New York Attorney General’s office, the company agreed to release 800 New York-based employees from their agreements and to make the new policy a nationwide one. As part of the new policy, an additional 600 employees across the country won’t be bound by non-compete agreements, and 1,800 employees will be subject to less restrictive agreements. The settlement was “a key step forward for WeWork’s thousands of employees in New York and across the country,” Attorney General Barbara Underwood said in a statement. [TRD]

Henri Bendel to close all of its stores after 123 years in business Luxury retailer Henri Bendel is closing all of its stores after 123 years in business, according to CNN. The retailer’s parent company L Brands made the decision to close the remaining 23 stores in an effort “to improve company profitability and focus on our larger brands that have greater growth potential” — Victoria’s Secret and Bath & Body Works, to name a few — as Henri Bendel wasn’t doing well sales-wise. After L Brands bought Bendel in the 1980s, it expanded the store into 11 states. Bendel’s 86,000-square-foot flagship store on Fifth Avenue in Manhattan, its Chicago and Miami-area stores and its outpost at the Beverly Center in Los Angeles will all be shuttering after the holidays, this coming January. [TRD]

Around 1 in 6 Americans say they would borrow against their homes to pay bills Approximately one in six U.S. homeowners would take out a loan secured by their home in order to pay household bills, a new Bankrate.com report found. That’s around 24 million homeowners, according to the report, which found that people who earned less and were less educated were more likely to make that choice. A majority of homeowners who took part in the survey, however, said that home improvements or repairs were the best reason to borrow against their homes. The report also indicated that while some homeowners said they would borrow against their homes, not many are doing so. The survey result “speaks to how far some households are stretched on a monthly basis,” Bankrate chief financial analyst Greg McBride said. [TRD]

MAJOR MARKET HIGHLIGHTS

Long-vacant Times Square theater getting $100M revamp Stillman Development and South Korean financial firm Daishin Securities Co. plan to renovate the Times Square Theater on West 42nd Street, the Wall Street Journal reported. Stillman Development has a 73-year lease for the theater, and the company hopes to draw entertainment-centric retailers to the space. Colliers International’s Brad Mendelson, who is handling the lease, said that could include brands like Apple, Amazon and Coca-Cola. President Roy Stillman, meanwhile, said they’re aiming to “design a project that would be insulated from the risks of e-commerce.” [TRD]

Chicago mansion that hosted four Playboy shoots hits the market Prospective homeowners searching for a new place in Chicago could land a mansion that’s hosted four Playboy photo spreads, Crain’s first reported. The owners of the 7,000-square-foot Gold Coast home put it on the market for $4.9 million. The mansion has a third-floor addition made of glass and a master bedroom with mirrors on the ceiling. Jameson Sotheby’s International Realty agent Duane Shumaker, who’s listing the house, described it as “sexy.” [TRD]

Luxury rental building on the Fort Lauderdale waterfront could fetch $160M A new luxury development on the water in Fort Lauderdale could fetch anywhere from $160 million to $170 million, according to Cushman & Wakefield broker Robert Given. Broadstone Harbor Beach, which houses 394 luxury apartment units, is unique because it’s “very rare to have a rental building on the Intracoastal or the water in South Florida,” said Given, who is listing the property along with Cushman & Wakefield’s Zachary Sackley, Troy Ballard and Neal Victor. “Most are condo projects,” he added. The site was previously home to Ocean World marine park, and is near the Broward Convention Center. [TRD]

CEO of Atlanta-based real estate investment trust Cousins Properties stepping down The CEO of Atlanta-based real estate investment trust Cousins Properties is stepping down, Bisnow reported. Larry Gellerstedt, who’s been CEO since 2009, will take on the role of executive chairman. Colin Connolly, the trust’s president, will become the new CEO next year. “Colin’s promotion is part of a deliberate and planned succession effort that will allow Cousins Properties to benefit from his ideas, energy and strategic leadership skills, while continuing its evolution into a larger, highly focused company,” Gellerstedt said in a statement provided to the outlet. [Bisnow]

More and more Denver residents are looking for homes in other cities More and more people who live in the Denver metro area are looking to buy homes in other cities, the Denver Post reported. A Redfin study found that there were more people from Denver searching for homes in other cities than were people from other cities searching for homes in Denver, according to the outlet. Residents who live in Denver may be looking for more affordable properties, since the median home price in the city is currently $406,000, according to the outlet. Denver residents seemed most interested in moving to Seattle, according to the study. They were also interested in places like Colorado Springs and Fort Collins. [DP]

Brightline buys high-speed rail between LA and Las Vegas Traveling between Los Angeles and Las Vegas will soon take half the time. Florida-based firm Brightline plans to buy a high-speed rail project called “XpressWest” that will get passengers from Southern California to Las Vegas in about 80 minutes — far less than the time it takes to drive between the two cities now. The firm plans to start construction in 2019 and to launch its service in 2022. “Brightline is changing transportation in our country by connecting heavily trafficked corridors that are too long to drive and to short to fly,” Wes Edens, the co-founder and co-chief executive officer of Brightline parent company Fortress Investment Group, said of the project. A round trip ticket on the rail line will cost around $89. [TRD]

from The Real Deal Miami https://therealdeal.com/2018/09/21/national-cheat-sheet-och-ziff-to-launch-2b-real-estate-fund-more/#new_tab via IFTTT

[juditmiltz]

National Cheat Sheet: Och-Ziff to launch $2B real estate fund … & more

Clockwise from top left: WeWork drops non-compete agreements for hundreds of employees after settlement with NY Attorney General Barbara Underwood, Och-Ziff Capital Management Group’s $2B real estate fund will target opportunistic investments, Henri Bendel to close all of its stores after 123 years in business, and Around one in six Americans would borrow against their homes to pay bills.

Och-Ziff Capital Management Group’s $2B real estate fund will target opportunistic investments Och-Ziff Capital Management Group hopes to raise a $2 billion private equity fund that would target real estate, according to Bloomberg. This will be billionaire Daniel Och’s fourth fund targeting opportunistic investments and his firm’s largest real estate-targeted investment vehicle yet. “In the foreseeable future, we think we’re extremely good in credit and in real estate,” CEO Robert Shafir told investors last month. “What you will see is extensions that are local adjacencies to those core businesses.” Och-Siff also aims to raise $150 million for an affordable-housing fund and $750 million for a real estate debt fund. [TRD]

WeWork drops non-compete agreements for hundreds of employees after settlement Hundreds of WeWork employees across the country will no longer be subject to stringent non-compete agreements. Almost all of the coworking behemoth’s employees were required to sign agreements that kept them from taking jobs with competitors, but after a settlement stemming from an investigation by the New York Attorney General’s office, the company agreed to release 800 New York-based employees from their agreements and to make the new policy a nationwide one. As part of the new policy, an additional 600 employees across the country won’t be bound by non-compete agreements, and 1,800 employees will be subject to less restrictive agreements. The settlement was “a key step forward for WeWork’s thousands of employees in New York and across the country,” Attorney General Barbara Underwood said in a statement. [TRD]

Henri Bendel to close all of its stores after 123 years in business Luxury retailer Henri Bendel is closing all of its stores after 123 years in business, according to CNN. The retailer’s parent company L Brands made the decision to close the remaining 23 stores in an effort “to improve company profitability and focus on our larger brands that have greater growth potential” — Victoria’s Secret and Bath & Body Works, to name a few — as Henri Bendel wasn’t doing well sales-wise. After L Brands bought Bendel in the 1980s, it expanded the store into 11 states. Bendel’s 86,000-square-foot flagship store on Fifth Avenue in Manhattan, its Chicago and Miami-area stores and its outpost at the Beverly Center in Los Angeles will all be shuttering after the holidays, this coming January. [TRD]

Around 1 in 6 Americans say they would borrow against their homes to pay bills Approximately one in six U.S. homeowners would take out a loan secured by their home in order to pay household bills, a new Bankrate.com report found. That’s around 24 million homeowners, according to the report, which found that people who earned less and were less educated were more likely to make that choice. A majority of homeowners who took part in the survey, however, said that home improvements or repairs were the best reason to borrow against their homes. The report also indicated that while some homeowners said they would borrow against their homes, not many are doing so. The survey result “speaks to how far some households are stretched on a monthly basis,” Bankrate chief financial analyst Greg McBride said. [TRD]

MAJOR MARKET HIGHLIGHTS

Long-vacant Times Square theater getting $100M revamp Stillman Development and South Korean financial firm Daishin Securities Co. plan to renovate the Times Square Theater on West 42nd Street, the Wall Street Journal reported. Stillman Development has a 73-year lease for the theater, and the company hopes to draw entertainment-centric retailers to the space. Colliers International’s Brad Mendelson, who is handling the lease, said that could include brands like Apple, Amazon and Coca-Cola. President Roy Stillman, meanwhile, said they’re aiming to “design a project that would be insulated from the risks of e-commerce.” [TRD]

Chicago mansion that hosted four Playboy shoots hits the market Prospective homeowners searching for a new place in Chicago could land a mansion that’s hosted four Playboy photo spreads, Crain’s first reported. The owners of the 7,000-square-foot Gold Coast home put it on the market for $4.9 million. The mansion has a third-floor addition made of glass and a master bedroom with mirrors on the ceiling. Jameson Sotheby’s International Realty agent Duane Shumaker, who’s listing the house, described it as “sexy.” [TRD]

Luxury rental building on the Fort Lauderdale waterfront could fetch $160M A new luxury development on the water in Fort Lauderdale could fetch anywhere from $160 million to $170 million, according to Cushman & Wakefield broker Robert Given. Broadstone Harbor Beach, which houses 394 luxury apartment units, is unique because it’s “very rare to have a rental building on the Intracoastal or the water in South Florida,” said Given, who is listing the property along with Cushman & Wakefield’s Zachary Sackley, Troy Ballard and Neal Victor. “Most are condo projects,” he added. The site was previously home to Ocean World marine park, and is near the Broward Convention Center. [TRD]

CEO of Atlanta-based real estate investment trust Cousins Properties stepping down The CEO of Atlanta-based real estate investment trust Cousins Properties is stepping down, Bisnow reported. Larry Gellerstedt, who’s been CEO since 2009, will take on the role of executive chairman. Colin Connolly, the trust’s president, will become the new CEO next year. “Colin’s promotion is part of a deliberate and planned succession effort that will allow Cousins Properties to benefit from his ideas, energy and strategic leadership skills, while continuing its evolution into a larger, highly focused company,” Gellerstedt said in a statement provided to the outlet. [Bisnow]

More and more Denver residents are looking for homes in other cities More and more people who live in the Denver metro area are looking to buy homes in other cities, the Denver Post reported. A Redfin study found that there were more people from Denver searching for homes in other cities than were people from other cities searching for homes in Denver, according to the outlet. Residents who live in Denver may be looking for more affordable properties, since the median home price in the city is currently $406,000, according to the outlet. Denver residents seemed most interested in moving to Seattle, according to the study. They were also interested in places like Colorado Springs and Fort Collins. [DP]

Brightline buys high-speed rail between LA and Las Vegas Traveling between Los Angeles and Las Vegas will soon take half the time. Florida-based firm Brightline plans to buy a high-speed rail project called “XpressWest” that will get passengers from Southern California to Las Vegas in about 80 minutes — far less than the time it takes to drive between the two cities now. The firm plans to start construction in 2019 and to launch its service in 2022. “Brightline is changing transportation in our country by connecting heavily trafficked corridors that are too long to drive and to short to fly,” Wes Edens, the co-founder and co-chief executive officer of Brightline parent company Fortress Investment Group, said of the project. A round trip ticket on the rail line will cost around $89. [TRD]

from The Real Deal Miami https://therealdeal.com/2018/09/21/national-cheat-sheet-och-ziff-to-launch-2b-real-estate-fund-more/#new_tab via IFTTT