M&G Real Estate has acquired the project through an off-market transaction on behalf of a joint venture with an Asian institutional client.
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Carr Properties has secured $92 million of construction debt to build a 299-unit Class A multifamily complex in Downtown Washington, D.C., Commercial Observer can first report. PNC Bank provided the debt, structured with a five-year term and 20-year tax abatement, with United Bank also participating in the deal. Berkadia’s Brian Gould and Pat Cunningham arranged…
A four-advisor Tampa, Fla.-based team managing about $1.3 billion in client assets is joining UBS from Bank of America Private Bank, the Swiss-based wirehouse announced. The advisors, including Jesse Flatt, Lea Ann Drew, Brandon Burns and Carlos Rodriguez, will join UBS’s Greater Florida/Gulf Coast Market under the supervision of Tampa Bay Senior Market Director Jack…
A federal judge has rejected the Trump administration’s request to terminate a consent order in a 2022 case involving alleged redlining by a New Jersey bank. The ruling marks a win for a group of nonprofits that had fought against the administration’s attempts to overturn the agreement between the Biden-era Justice Department and Lakeland Bank,…
Key takeaway: The Discover integration is beginning to contribute to Capital One’s purchase volume, which increased 26% from a year earlier. Expert quote: “We continue to build momentum from the game-changing acquisition of Discover. Even though some individual variables in our deal model have moved … We still expect our earnings power on the other…
Growth is a priority for nearly every advisory firm. But as client expectations expand and the business of wealth management becomes more complex, growth increasingly depends on an advisor’s ability to create capacity. Jason Diamond speaks with Michael Kim, CEO and President of AssetMark, about why the strongest firms are intentional about where advisors spend…
The risk by waiting too long is a possible costly restart if a valuation comes in well below the number used in the mortgage application – a scenario that’s all too common in markets like Toronto, especially in the condo sector where price depreciation is showing no sign of slowing. While brokers’ influence over appraisal…