Colonial Properties Trust, a real estate investment trust based in Birmingham, Ala., has announced an acceleration of its plan to focus more of its efforts on the multifamily business.Colonial said it plans, over the next six to 12 months, to sell the majority of its wholly owned office assets and retail assets into several joint ventures that it will manage. It will also sell outright certain other office and retail assets. "Once the anticipated sales are complete, the company estimates that annualized net operating income from multifamily operations will be approximately 80% of the company's total net operating income, compared to approximately 50% today," the REIT said. Colonial can be found on the Web at http://www.colonialprop.com.
-
Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
3h ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
4h ago -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
4h ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
6h ago -
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25