July 15, 2012 |
A high-rise office building on Bunker Hill in downtown Los Angeles has been acquired by CBRE Global Investors, an affiliate of L.A. real estate brokerage CBRE Group Inc. CBRE Global bought 400 S. Hope St., a 26-story tower at the southeast corner of Hope and 4th streets. The price of the sale by New York investors Tishman Speyer and BlackRock Inc. was not disclosed, but downtown real estate experts familiar with the property valued it at $236 million. The 700,000-square-foot building was completed in 1982 to be the headquarters of law firm O'Melveny and Myers.
October 18, 2006 |
MetLife Inc. said Tuesday that it had agreed to sell two adjoining Manhattan apartment complexes for $5.4 billion in one of the largest U.S. real estate transactions on record. The company said it would sell Peter Cooper Village and Stuyvesant Town to a joint venture of New York real estate developer Tishman Speyer and the realty unit of BlackRock Inc.
February 8, 2013 |
PennyMac Financial Services Inc., the 5-year-old mortgage company founded by former Countrywide Financial Corp. President Stanford L. Kurland, plans to go public on the New York Stock Exchange. PennyMac , which makes, buys, sells and services residential loans, intends to raise up to $287.5 million in a public offering, the Moorpark-based company said in a prospectus filed Thursday with the Securities and Exchange Commission. ...
December 11, 2007 |
Bank of America Corp. said Monday that it would liquidate a $12-billion cash fund for wealthy clients and institutions, the largest investment of its type to close because of losses tied to the collapse of the sub-prime mortgage market. The fund, Columbia Strategic Cash Portfolio, was sold as an alternative to money-market funds, offering a higher yield by taking more risk.
July 17, 2008 |
Merrill Lynch & Co., the nation's third-largest securities firm, dropped efforts to sell a stake in BlackRock Inc. and struck a deal instead to sell its 20% share of Bloomberg LP, according to people familiar with the decision. Merrill, poised to report a second-quarter loss today, stood to gain about $2 billion on its 49.8% stake in BlackRock, the nation's largest publicly traded fund manager, based on its current market value. BlackRock stock has fallen 17.
July 25, 2011 |
Wrangling over the U.S. debt ceiling and questions over corporate earnings mean markets are unlikely to get a break any time soon. Wall Street is set to end its worst three months in a year as July draws to a close this week after a roller coaster ride for markets. The Standard & Poor's 500 index rallied 6% in the run-up to reporting season, but earnings misses from big industrial names such as Rockwell Collins Inc. and Caterpillar Inc. weighed on the Dow and S&P 500 on Friday.
June 3, 2011 |
Former Federal Reserve Chairman Paul Volcker and former Citigroup Inc. co-Chairman John Reed have been named to a Federal Deposit Insurance Corp. panel that will help the agency map strategy for unwinding too-big-to-fail financial firms when they collapse. Volcker, who advised President Obama during negotiations over what became the Dodd-Frank Act, was named to the FDIC's 18-member Advisory Committee on Systemic Resolutions along with Reed and current executives including BlackRock Inc. fixed-income chief Peter Fisher.
October 1, 2009 |
The Treasury Department's long-awaited attempt to deal with toxic mortgage securities cleared another hurdle as two of the nine fund managers selected to lead public-private partnerships to purchase the assets raised at least $500 million each. Invesco Ltd. and Los Angeles-based TCW Group Inc. have completed their initial fundraising from private investors, bringing in a total of $1.13 billion in capital commitments as part of the Public-Private Investment Program, the Treasury said Wednesday.
December 3, 2013 |
Proceed with a caution. The green light has turned yellow. That's what top equity strategists at T. Rowe Price, a major investment firm, are telling investors as this year's stock market rally shows little sign of easing. "We're starting to see signs of caution in the market," John Linehan, head of U.S. equities at T. Rowe Price, said at a media briefing in New York on Tuesday. The Dow Jones industrial average is up more than 21% for the year, while the broader Standard & Poor's 500 has rocketed 26% this year.