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...The bank also took a loss on a loan to a rent-controlled New York City multifamily building — an asset type that was NYCB’s speciality before its recent mergers....
...A version of this article was first published by Nikkei Asia on August 21. ©2023 Nikkei Inc. All rights reserved....
...The home rental start-up invested $11m in Miami-based Newgard Development Group in 2018, a deal intended to “create more home-sharing accommodations for the Airbnb community, particularly in urban, multifamily...
...The main aim is to get leveraged ETPs that use derivatives to juice returns or allow investors to bet on an index falling — so-called “inverse” ones — reclassified as ETIs....
...Investors hope the UK rented housing sector, previously dominated by amateur landlords, will develop a large-scale “multifamily” asset class similar to those in the US and Germany....
...Marc Geary, managing director at Major Domus, a multifamily office, said that during the protests last week, he was asked to sell commercial real estate and move the proceeds to Perth in Australia....
...• Stonehage Fleming, the $43bn multifamily office, has hired Anastasia Shvetsova as a senior associate. She joins from JPMorgan....
...Mr Taylor returns to Cazenove after 11 years at Stonehage Fleming, the multifamily office....
...● Stonehage Fleming has hired Simon Boadle as executive chairman of its corporate finance business, a new role at the $43bn multifamily office. Mr Boadle was previously a senior partner at PwC....
...• Stonehage Fleming, the largest multifamily office in Europe, has hired Andrea Tardy as a partner. Mr Tardy, who will be based in Geneva, is a former managing director of JPMorgan Private Bank....
...A survey of senior loan officers by the Fed in the first quarter found a net 23 per cent were tightening standards for “multifamily” projects — big apartment blocks....
...Blackstone bought a multifamily building in Manhattan for $690m in September....
...Sectors such as construction and certain classes of multifamily mortgages, for example, look vulnerable to reserves increases, as the reported credit quality is “simply too good to be believed — or sustained...
...More than 80 per cent of new US multifamily units — or apartment towers — built in the past two years have commanded rents in the top fifth of the market, according to CoStar, a property research group....
...On Tuesday, the bank said: “ETI does not accept the legitimacy of the Togolese court’s ruling because the court does not have legal jurisdiction over Mr Tanoh’s employment contract”, noting that the contract...
...KPMG, the global accountancy firm enlisted by the Nigerian regulator to carry out the investigation, was scathing about the way Mr Tanoh had agreed a bonus and salary increase in 2012 with the former ETI...
...RealPage, a so-called software as a service company, specialises in providing commercial property and multifamily housing landlords with technology that helps them manage marketing, tenant services and rent...
...“ETI has a strategic partnership with QNB. This takes it further. It enhances Ecobank’s reach both in the North African region and the Middle East....
...Benjamin Hein is joining BigSur Partners, an $800m Miami-based, multifamily wealth manager as chief operating officer....
...Commenting on the investment, Mike Brown, Nedbank’s chief executive, said: “Nedbank Group’s own operations in southern and east Africa, combined with ETI’s unrivalled pan-African footprint and strength in...
...Another senior executive said Ecobank was “working closely with QNB to ensure that its shareholding is brought within the 20 per cent threshold in line with the position of the ETI Board”....
...Mr Essien, who has been in charge of the corporate and investment banking arm, has been at Ecobank, also known as ETI, for more than 20 years....
...The PIC has consistently denied it has any ambition to take over ETI, which was launched in the 1980s by business people from across west Africa....
...ETI released a terse, one line statement to announce Mrs Do Rego’s dismissal and said “we have fully co-operated with the SEC to date”....
...The IFC increased its stake in the bank in response to a fundraising campaign by ETI that also attracted institutional investors from South Africa....
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