Acadia Realty Trust, a White Plains, N.Y.-based real estate investment trust, has reported the formation of a third discretionary investment fund with $500 million of discretionary institutional capital.The retail REIT said it expects the fund to be able to acquire or develop up to $1.5 billion in assets on a leveraged basis. The fund is expected to consist of 13 institutional investors, including all the investors from the previous funds, the REIT said. The existing investors and seven new members will invest a total of $400 million of equity, and Acadia will invest $100 million.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24