Real Estate News
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Yields on Fannie Mae and Freddie Mac mortgage bonds that guide U.S. home-loan rates rose to the highest in more than 14 months as the Federal Reserve said risks to the economy have decreased, fueling speculation it will reduce the pace of its bond buying from $85 billion a month.
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Rubin Schron, a New York real estate investor, offered to buy the Empire State Building for $2 billion in cash as the skyscraper’s supervisor prepares to make it the centerpiece of an initial public offering.
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Corvex Management LP and Related Cos., the investors who want to replace CommonWealth REIT’s board, pledged to buy a majority of the debt in the company’s credit agreements to prevent acceleration of the loans’ maturity should they be successful in ousting the trustees.
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TPG Capital, the private-equity firm founded by David Bonderman and James Coulter, agreed to invest $135 million in AV Homes Inc. and take a more than 40 percent stake in the developer.
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