Economists at PropTrack have estimated that the city’s dwellings could end 2023 up by 2% compared to where they started the year, and rise another 3% in the following 12 months. The company closed its offering in May 2015 after raising a total of $776 million in investor equity and owns seven properties with an investment cost of $774 million, as of the fourth quarter of 2018.Ĭlick here to visit The DI Wire directory page.Melbourne Home Values Poised to Rise A$40,000 By the End of 2024Ī typical home in Melbourne, Australia, could be worth as much A$40,000 (US$26,140) more by the end of 2024, according to fresh predictions for the city’s property market. AR Capital and its affiliates were involved in a series of scandals that eventually led to the closing of all AR Capital-sponsored investment programs to new investors.Īmerican Realty Capital New York City REIT invests in properties located in the five boroughs of New York City, with a focus on Manhattan. Last March, the REIT suspended cash distributions in order to “enhance its ability to execute on acquisitions and conduct repositioning and leasing efforts related to its properties.”Īccording to Summit Investment Research, prior to the suspension, the REIT had a 10 percent distribution coverage, and the 6 percent distribution rate was overdistributed by $4.03 per share.ĪR Global is the successor business to AR Capital LLC, New York City REIT’s former sponsor.
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