Dina Weisenberg Brin June 24, 2024 2:59 PM The wirehouse's payments were a fraction of what Vanguard and other firms paid to similar accounts, according to the complaint. According to the proposed class action lawsuit, Morgan Stanley breached its duty to act in its clients' best interests by paying unfairly low interest rates to brokerage and advisory clients on their cash sweep program balances. “This case is about a simple scheme: Morgan Stanley violated its fiduciary and contractual duties, as well as its regulatory obligations to act solely in its clients' 'best interests,' by failing to secure reasonable interest rates…
Author: Private Lending Agent
How do banks make money?Of the 94 different industries in the United States, the banking industry is the most profitable, with regional banks' gross profit margins at nearly 100% and net profits at about 30%. The average for other industries is about 36%. In 2023, the banking industry reported a net profit of $256.9 billion.One of the main ways banks make profits is by borrowing money from depositors at a certain interest rate and then lending that money to borrowers at a higher interest rate. Banks make profits from the difference between the two interest rates.For example, a bank borrows…
Maria Poyer, the 2023 Developing Leaders Award recipient, is driven by collaboration and exploration and has grown into a passionate commercial real estate professional specializing in acquisitions and development. With a proven track record, she has led over $4.9 billion in commercial real estate transactions over her career and has worked on a variety of developments, bringing a wealth of expertise to every project. Maria Elena Poyer Ms. Poyer is the Senior Land Acquisition Manager for the Americas at Microsoft Corporation. In her previous role at Amazon, she oversaw land acquisition, due diligence and development to ensure each site aligned…
Some Wall Street banks, worried that owners of vacant or struggling office buildings will be unable to make mortgage payments, have begun selling portfolios of commercial real estate loans in hopes of cutting losses.It's an early but clear sign of broader distress in the commercial real estate market, which is being hit by the double whammy of high interest rates that make it difficult to refinance loans and low occupancy rates in office buildings due to the pandemic.Late last year, an affiliate of Deutsche Bank and another German financial institution sold the delinquent mortgages on the Argonaut, a 115-year-old office…
According to documents accessed by Propstack, Ajay Devgan had rented office space in Mumbai's Andheri West for Rs 9 lakh per month for five years. Ajay Devgan has leased office space in Andheri West, Mumbai for Rs 9 lakh per month for five years. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} The lease was registered on 31.05.2024. Your wishes helped India win. Take a look back at India's epic journey in the T20 World Cup. Click here The property is registered in the name of Vishal Virendra Devgan, whose screen name is Ajay Devgan. The Bollywood star has rented out the office premises…
Not all CRE assets are CBD office buildings, and not all CBD office properties are the same. Problems facing some CBD office properties are clouding the commercial real estate landscape, according to experts attending the National Association of Real Estate Editors conference in Austin last week. Jim Costello, chief economist at MSCI Real Assets, told reporters and spokespeople that central business district office building values have fallen 56 percent from their peak, but that's only a slice of the industry based on a limited number of transactions. “It's not healthy by any stretch of the imagination,” Costello said. “These assets…
This is a question for Blog Clinic from Harry (not his real name), a landlord in the UK. We are trying to understand what to do if a tenant falls behind on their payments. For example, we asked a tenant to pay in advance on the 1st of each month, and the tenant said they couldn't pay on the 1st because they didn't get paid until the 12th. We agreed. But sometimes they didn't pay on the 12th. So my question is, when does rent become overdue? If I don't pay on the 12th of every month, does it become…
CharlottePurchaser: Charlotte CountySeller: Babcock Property Holdings LLCAddress: 1775 Curry Preserve Drive, Punta GordaProperty Type: Commercial Vacant LandPrice: $8,786,600Purchased by: America at Play Englewood Inc.Sold by: Mar-Key Consultants LLCAddress: 2095 N. Beach Road, EnglewoodFacility Type: RestaurantPrice: $5,000,000Previous price: $1,500,000, August 2017Buyer: Skywater-Port Charlotte LLCSeller: Columbia Property Holdings LLCAddress: 23350 Janice Ave., Port CharlotteProperty Type: WarehousePrice: $2,600,000Previous price: $324,500, February 2011CollierPurchaser: Lennar Homes LLCSold by: KLLB AIV LLCAddress: NaplesProperty Type: Vacant landPrice: $2,464,800Hillsboro Buyer: AG EHC II (LEN) Multi State 2 LLCSeller: Lennar Homes LLCAddress: TampaProperty Type: Vacant landPrice: $5,220,400Purchaser: Papaya Properties LLCSold by: APD Apollo Beach LLCAddress: 6580 N. Highway 41,…
The National Association of REALTORS® and its affiliates have come together to provide elected officials with clarity about the state of commercial real estate, which has become an increasingly stressful environment for many owners. NAR President Kevin Sears sent a letter on behalf of NAR and commercial associations CCIM Institute, Institute of Real Estate Management, and Industrial and Office Real Estate Association to congressional committees examining the health of the commercial real estate market. In a letter to the U.S. House of Representatives Healthcare and Financial Services Subcommittee, Sears drew attention to long-term negative effects on commercial businesses, including the…
The scale of this construction loan is as staggering as the Miami skyscrapers it's helping to build.The recently announced $688 million financing for the Waldorf Astoria Hotel & Residences, which will rise 1,049 feet along Biscayne Boulevard in downtown Miami, comes courtesy of Arkansas-based Bank OZK and Related Fund Management.But the building's impressiveness — it will be the tallest residential building south of New York — isn't so important to a finance professor at Florida Atlantic University. What worries him is the cumulative loan portfolios of Bank OZK and other banks across the country, which hold large amounts of commercial…