Polymarket users bet on whether the U.S. would invade Venezuela, but the prediction market said the Venezuelan president’s capture did not constitute an invasion.
Five months ago, it was announced that members-only club Soho House was going private. Not so fast, apparently. The deal for MCR Hotels and its leader Tyler Morse to take control of the swanky club is in danger, Hotel Dive reported. Days ago, MCR informed investment firm Yucaipa Companies — which has a controlling interest in the business — that it would not be able to fund its closing commitment, according to an SEC filing. As part of its $2.7 billion privatization deal, MCR — which owns high-end hospitality destinations like the High Line Hotel and Gramercy Park Hotel — […]
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General Motors said it was writing down the value of battery and electric vehicle factories after changes in federal policy undercut demand.
Steve Croman is facing yet another foreclosure — and from a familiar foe. Dalan Real Estate filed separate lawsuits against the infamous landlord over alleged loan defaults tied to seven rental properties in Manhattan, according to court documents. Croman is accused of defaulting on loans totaling roughly $39 million. Croman allegedly stopped making payments on the loans a year ago, according to the court filings. One loan is a $4.6 million mortgage tied to 44 Avenue B — where Croman allegedly owes $4.2 million — while the other is a $34.2 million mortgage collateralized by a handful of properties: 1345 […]
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The request by a group of Congress members cites reporting by The Times and echoes a similar request by Democratic senators in September.
The $2.7B deal that was supposed to take the Soho House private hit a snag after MCR Hotels, the deal’s lead equity partner, notified that it couldn’t follow through on its $200M commitment.
Now, Yucaipa Cos., which controls the members-only club, is trying to fill the gap.
Benefit Street Partners is prepared to deploy up to $10B for its U.S. real estate debt strategy, including $3B in equity commitments, marking the largest fund-raise in the firm’s history.
The New York-based, credit-focused alternative asset manager announced the final close of BSP Real Estate Opportunistic Debt Fund II, which has $10B in investable capital across $3B in equity commitments, according to a news release. The fund is focused on originating senior and junior commercial real estate debt investments across major U.S. markets.
The fund was launched in 2023 in partnership with Franklin Templeton. BSP’s first opportunistic debt strategy closed in 2022 with $518M in…
Indiana Gov. Mike Braun is upping the tempo on an aggressive push to lure the Chicago Bears to a new home in the Hoosier State.
Braun said in an interview on 21Alive News the state has had “a lot” of communication with the Bears organization since team President and CEO Kevin Warren announced in December the team was exploring a move to Indiana. The governor said the approach to luring the team has to be methodical and executed when the organization is thoroughly ready.
“We’re going to do everything to make it happen,” he said.
The Securities and Exchange Commission is investigating an Austin-based real estate debt syndicator for fraud.
The SEC probe into Alan Stalcup, the founder and CEO of GVA Real Estate Group, stems from a barrage of lawsuits from angry investors who allege that Stalcup misappropriated up to $100M of their cash.