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Ortega’s holding firm Pontegadea has reached an accord to acquire the 64-floor luxury apartment complex for about $500 million. The building was sold by Carmel Partners.
Some buyers are trying to renegotiate prices, but a net result of recent moves could be a tightening in the spread between multifamily cap rates and yields on 10-year Treasuries.
Brutal heat waves may be driving more employees back to offices where they can get relief from central air conditioning, reports The Wall Street Journal. Bloomberg looks at the equity gap between black and white households when it comes to...