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Pretium Partners
Pretium Partners, LLC (Pretium) is an American alternative investment firm headquartered in New York City. The firm focuses on investments in residential real estate as well as Corporate and Structured Credit. In 2022, the firm was ranked by PERE (under '' Private Equity International'') as the fifteenth largest private equity real estate firm based on total fundraising over the most recent five-year period. It is stated to have a portfolio of 85,000 homes as of late 2022 making it the second largest largest owner of single-family rental homes in the United States behind Invitation Homes. The firm has attracted controversy for its strategy of buying up large number of homes then charging tenants with high rental fees while providing poor maintenance. It has also been accused of evicting tenants who cannot pay rent during the COVID-19 pandemic despite COVID-19 eviction moratoriums being placed by the Centers for Disease Control and Prevention (CDC). Background Pretium was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
810 Seventh Avenue
810 Seventh Avenue is a Class-A office skyscraper located a few blocks north of Times Square on Seventh Avenue between 52nd and 53rd streets within Midtown Manhattan in New York City, United States. It is owned by SL Green Realty Corp. after its acquisition of Reckson Associates Realty Corp., completed in January 2007. The back of the building is situated on Broadway, diagonally across Broadway and 53rd from CBS's Ed Sullivan Theater, home of ''The Late Show with Stephen Colbert''. The building has a large number of tenants, including: AT&T Wireless, Aegis Capital Corp., CompassRock Real Estate (40th Floor), Constellation Energy, EMI Entertainment, Scripps Networks - Ion Media Networks, Hearst Communications, IAC/InterActiveCorp IAC Inc. is an American holding company that owns brands across 100 countries, mostly in media and Internet. The company is incorporated under Delaware General Corporation Law and headquartered in New York City. Joey Levin, who previously led t . ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2000s United States Housing Market Correction
United States housing prices experienced a major market correction after the housing bubble that peaked in early 2006. Prices of real estate then adjusted downwards in late 2006, causing a loss of market liquidity and subprime defaults. A real estate bubble is a type of economic bubble that occurs periodically in local, regional, national or global real estate markets. A housing bubble is characterized by rapid and sustained increases in the price of real property, such as housing' usually due to some combination of over-confidence and emotion, fraud, the synthetic offloading of risk using mortgage-backed securities, the ability to repackage conforming debt via government-sponsored enterprises, public and central bank policy availability of credit, and speculation. Housing bubbles tend to distort valuations upward relative to historic, sustainable, and statistical norms as described by economists Karl Case and Robert Shiller in their book, ''Irrational Exuberance''. As early a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Miami Beach, Florida
Miami Beach is a coastal resort city in Miami-Dade County, Florida. It was incorporated on March 26, 1915. The municipality is located on natural and man-made barrier islands between the Atlantic Ocean and Biscayne Bay, the latter of which separates the Beach from the mainland city of Miami. The neighborhood of South Beach, comprising the southernmost of Miami Beach, along with Downtown Miami and the PortMiami, collectively form the commercial center of South Florida. Miami Beach's population is 82,890 according to the 2020 census. Miami Beach is the 26th largest city in Florida based on official 2019 estimates from the U.S. Census Bureau. It has been one of America's pre-eminent beach resorts since the early 20th century. In 1979, Miami Beach's Art Deco Historic District was listed on the National Register of Historic Places. The Art Deco District is the largest collection of Art Deco architecture in the world and comprises hundreds of hotels, apartments and other structure ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indianapolis
Indianapolis (), colloquially known as Indy, is the state capital and most populous city of the U.S. state of Indiana and the seat of Marion County. According to the U.S. Census Bureau, the consolidated population of Indianapolis and Marion County was 977,203 in 2020. The " balance" population, which excludes semi-autonomous municipalities in Marion County, was 887,642. It is the 15th most populous city in the U.S., the third-most populous city in the Midwest, after Chicago and Columbus, Ohio, and the fourth-most populous state capital after Phoenix, Arizona, Austin, Texas, and Columbus. The Indianapolis metropolitan area is the 33rd most populous metropolitan statistical area in the U.S., with 2,111,040 residents. Its combined statistical area ranks 28th, with a population of 2,431,361. Indianapolis covers , making it the 18th largest city by land area in the U.S. Indigenous peoples inhabited the area dating to as early as 10,000 BC. In 1818, the Lenape relinquished ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flipping
Flipping is a term used to describe purchasing a revenue-generating asset and quickly reselling (or "flipping") it for profit. Within the real estate industry, the term is used by investors to describe the process of buying, rehabbing, and selling properties for profit. In 2017, 207,088 houses or condos were flipped in the US, an 11-year high. In the United Kingdom, "flipping" is used to describe a technique whereby Members of Parliament were found to be switching their second home between several houses, which had the effect of allowing them to maximize their taxpayer funded allowances. Types Wholesaling and assigning a contract Wholesalers make a profit by signing a contract to purchase a property from a seller and then entering into an agreement with a third party to sell their role of buyer in the contract to an end buyer. All rights to the original purchase contract are assigned to the new buyer and the new buyer pays an "assignment fee" to the wholesaler in order to gai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crescent Communities
Crescent Communities is a real estate investor, developer, and operator of mixed-use communities with headquarters in Charlotte, North Carolina. It has approximately 115 employees. The company has offices in Charlotte, Washington, D.C., Atlanta, Orlando, Nashville, Dallas, Denver, Phoenix, and Salt Lake City. History In 1939, Duke Power (now Duke Energy) established a forestry department to manage company land not used for power generation. In 1963, this department became the company South Carolina Land and Timber. As the holdings expanded to include land in North Carolina, the organization was renamed Crescent Land and Timber in 1969. Some of the original land was sold to Crescent Land and Timber by the Singer Corporation. In the mid-1980s, the company was renamed Crescent Resources as it began to actively develop residential communities. Crescent Resources began work on its first commercial development, Coliseum Centre, in 1990. As of 1991, Crescent Resources managed 270,000 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joint Venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to access a new market, particularly Emerging market; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities. According to Gerard Baynham of Water Street Partners, there has been much negative press about joint ventures, but objective data indicate that they may actually outperform wholly owned and controlled affiliates. He writes, "A different narrative emerged from our recent analysis of U.S. Department of Commerce (DOC) data, collected from more than 20,000 entities. According to the DOC data, foreign joint ventures of U.S. companies realized a 5.5 percent average return on assets (ROA), while those companies’ wholly owned and controlled affiliates ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Sector Pension Investment Board
The Public Sector Pension Investment Board (PSP Investments) is a Canadian Crown corporation established by an act of Parliament in September 1999. PSP Investments is one of Canada's largest pension investment managers, with CAD $204.5 billion of net assets under management as at March 31, 2021. It invests funds for the pension plans of the Public Service, the Canadian Armed Forces, the Royal Canadian Mounted Police and the Reserve Force. More than 1000 professionals manage a diversified global portfolio composed of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. PSP Investments' head office is located in Ottawa, Ontario, and its chief business office is located in Montreal, Quebec. It also has offices in New York City, London and Hong Kong. History PSP Investments was incorporated as a Crown corporation under the ''Public Sector Pension Investment Board Act'' in 1999. The investments will fund retirement be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed companies at US$30.1 trillion as of February 2018. The average daily trading value was approximately 169 billion in 2013. The NYSE trading floor is at the New York Stock Exchange Building on 11 Wall Street and 18 Broad Street and is a National Historic Landmark. An additional trading room, at 30 Broad Street, was closed in February 2007. The NYSE is owned by Intercontinental Exchange, an American holding company that it also lists (). Previously, it was part of NYSE Euronext (NYX), which was formed by the NYSE's 2007 merger with Euronext. History The earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement. Previously, secu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ares Management
Ares Management Corporation is an American global alternative investment manager operating in the credit, private equity and real estate markets. The company was founded in 1997 and is headquartered in Los Angeles, California, with additional offices across North America, Europe, and Asia. As of September 2021, Ares Management Corporation's global platform had approximately $295 billion of assets under management and 1,500 employees operating across North America, Europe, Asia Pacific and the Middle East. History The firm was established in 1997. The co-founders included Antony Ressler, Michael Arougheti, David Kaplan, John H. Kissick, and Bennett Rosenthal. It has several subsidiaries: *Ares Capital Corporation established in 2004: provides financing for middle market acquisitions, recapitalizations, and leveraged buyouts, mainly in the United States. It is a publicly traded closed-end, non-diversified specialty finance company that is regulated as a business development com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Event-driven Investing
Event-driven investing or Event-driven trading is a hedge fund investment strategy that seeks to exploit pricing inefficiencies that may occur before or after a corporate event, such as an earnings call, bankruptcy, merger Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect ..., acquisition, or spinoff. In more recent times market practitioners have expanded this definition to include additional events such as natural disasters and actions initiated by shareholder activists. However, merger arbitrage remains the best-known investment strategy within this group. Event-driven investing strategies are typically used only by sophisticated investors, such as hedge funds and private-equity firms. That’s because traditional equity investors, including managers of equity mutual funds, d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Landmark Partners
Landmark Partners, an SEC Registered Advisor, is one of the most experienced participants in the private equity secondary market for private equity (also known as secondaries) and real estate investments. Founded in 1989, the firm is a leading source of liquidity to owners of interests in venture, mezzanine, buyout, and real estate limited partnerships. Landmark Partners has four offices located in Boston, New York, Simsbury, and London. Investment program Landmark Partners has formed private equity and real estate funds with approximately $15.5 billion of committed capital invested with over 700 sponsors in over 1,800 partnership interests (as of 12/31/15). In 2015, Landmark Partners closed, Landmark Real Estate Fund VII (LREF VII), with capital commitments of $1.6 billion In 2014, Landmark Partners closed, Landmark Equity Partners XV (LEP XV), with capital commitments of $3.3 billion Affiliations Francisco L. Borges Francisco Lopes Borges (born November 17, 1951) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
