Colonial Properties Trust, Birmingham, Ala., has priced a public offering of 4.5 million shares of common stock at $43.75 per share.The net proceeds are expected to be approximately $187.3 million, Colonial Properties said. The offering was led by Merrill Lynch & Co. and Wachovia Securities. The company has granted the underwriters an option to buy up to 675,000 additional shares to cover any overallotments. Colonial Properties, a real estate investment trust that owns multifamily, office, and retail properties, can be found on the Web at http://www.colonialprop.com.
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Higher costs than expected, not just for the mortgage but for repairs and more, have recent buyers' regretting their purchase, Clever RE and Redfin found in separate reports.
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New guidelines regarding buy-side and sell-side real estate agent compensation are set to go into effect this summer.
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Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28