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.
-
A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
6h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
9h ago -
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
11h ago -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
11h ago -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
11h ago -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11