October 10, 2011
Capmark Financial Group Inc., Horsham, said today it closed on the first stage in the sale of its low-income housing tax credit portfolio for $102.4 million. The commercial real estate lender, which emerged from bankruptcy in September, sold the portfolio to the Hunt Cos. Inc., El Paso, Texas. Hunt was the successful bidder at Capmark's bankruptcy auction. The initial part of the sale was for $63 million, and the rest is to be paid in stages, Capmark said. -Paul Schweizer
December 5, 2015 |
A subsidiary of Salt Lake City-based Bridge Investment Group Partners L.L.C. has purchased six senior-housing properties, including Arbor Terrace in Chestnut Hill, according to Holliday Fenoglio Fowler, which marketed the portfolio. ROC Seniors Housing Fund Manager L.L.C. bought the properties from a joint venture between the Carlyle Group and Capitol Seniors Housing Nov. 16, HFF spokeswoman Olivia Hennessey said Thursday. The other properties are in Corona del Mar, Riverside and Whittier, Calif.; West Bloomfield, Mich.; and Washington, D.C., HFF said.
February 28, 2012 |
Billionaire and investing icon Warren Buffett said Monday that health-care giant Johnson & Johnson has "obviously messed up in a lot of ways in the last few years. " Buffett is chairman of Berkshire Hathaway Inc., the investment company that owns or holds sizable positions in companies in numerous industries. J&J, Wells Fargo, Burlington Northern, and Coca-Cola are among the prominent companies in its portfolio. Buffett said Berkshire has not sold its stake but "we might.
April 12, 2016
THREE longtime Daily News editors have won national awards for headline writing from the American Copy Editors Society. The Daily News awards, for headlines written in 2015 at newspapers below 100,000 circulation, went to: * First place, staff portfolio: Joe Berkery, Doug Darroch, Drew McQuade (Seed Money, Acting Our Rage, The New Furor, Shot of Heroine, Chaka Con, Frock Star, To D.I.Y. For, I'm Calling Momcast!, Where the Gun Don't Shine, Prints of Thieves) * First place, individual portfolio: Doug Darroch (We're Shattered, Seed Money, Punching Up the Plot, Where the Gun Don't Shine, To D.I.Y.
August 2, 2016 |
A robo-adviser just for women? That's the latest step for Amanda Steinberg, the South Philly native who founded DailyWorth, a financial-advice newsletter with more than one million women subscribers. Last year, Steinberg expanded Chestnut Hill-based DailyWorth into financial advice and money management with the launch of WorthFM, which offers a pre-selected portfolio of eight exchange-traded funds. WorthFM is similar to robo-adviser start-ups such as Wealthfront or Betterment, with portfolios that are pre-selected and rebalanced automatically.
January 15, 2013
Pennsylvania Real Estate Investment Trust, or PREIT, said it completed the sale of Paxton Towne Centre in Harrisburg for $76.8 million. The sale to Kansas-based Rubenstein Real Estate Co. L.C. represents a gain on approximately $33.6 million, and net proceeds of $24.9 million after closing costs for the trust, PREIT said in a statement. Philadelphia-based PREIT has a portfolio of 47 retail-shopping properties, including the Cherry Hill and Willow Grove Park malls, in 13 states in the eastern half of the United States.
June 18, 2015 |
American Realty Capital Hospitality Trust will acquire the Hyatt Place hotel in Princeton, New Jersey, in a deal to buy 13 hotels in nine states for $300 million, the company said in a statement Tuesday. The New York-based investment trust plans to purchase the portfolio of hotels from affiliates of Noble Investment Group, a hospitality real estate private equity firm in Atlanta. The deal, along with other recent acquisitions, would bring ARC Hospitality's total portfolio to 166 hotels with nearly 20,200 rooms across 34 states, the company said.
October 18, 2013 |
In his crowded townhouse office on Locust Street, Howard Trauger was calming an investor over the phone Wednesday. Shouldn't stock prices be collapsing, with all the "silliness" in Congress, and the threat that the United States would default on its debt? asked the caller, head of a foundation that invests more than $2 million of its endowment with Trauger's firm, Schuylkill Capital Management. "As a matter of fact, they aren't" collapsing, Trauger, a ruddy Schuylkill County native who has been buying and selling securities for a living since he cut his teeth at the Girard Bank in the 1970s, told his client.
September 6, 2012 |
We all do it: We don't sell a stock when we should, even after the share price has hit our hoped-for target, or it has lost value and stayed low. We fall in love with our portfolio holdings. Professionals offer tips on how to sell as a discipline. We checked in with the folks running Logan Capital Management's Concentrated Value portfolio day to day. Marvin Kline and Rich Buchwald, managing directors at the $2 billion Ardmore money-management firm, are Penn alums (one undergrad, one grad school)
December 5, 2013 |
Hard to believe, but as of Wednesday, there are fewer than 20 trading days left in the year. So, if you want to take profits in your stock portfolio, now would be the time. Almost all major asset classes except commodities have posted gains this year: The S&P 500 equity gauge has rallied 26 percent, on pace for its biggest annual gain since 2003, and reached an all-time high on Nov. 27. The 2014 market is unlikely to match 2013's stellar gains. "Equities may post further gains in the year ahead, despite the strong runup this year and the abiding potential for some pullback," notes Sage Financial Group, of West Conshohocken, in its latest note to investors.