3 opportunities, 3 challenges for Lennar, now the largest US homebuilder
Lennar could leverage its sales strategies for CalAtlantic communities, but it has a challenge in reaching millennials.Original Article
Trump property sale with Russian probed
At the time of the deal, Trump's companies had suffered a string of six successive bankruptcies.Original Article
Lennar becomes nation’s largest homebuilder with acquisition of CalAtlantic
Lennar Corp. has reclaimed its spot as the nation’s largest homebuilder after completing the acquisition of CalAtlantic Group. Miami-based Lennar (NYSE: LEN) and Virginia-based CalAtlantic (NYSE: CAA) both received shareholder approval for the merger on Monday. The companies said the deal will be effective at 11:59 p.m. Over 99 percent of shareholders at each company approved the deal. The deal is valued at $9.3 billion, including $3.6 billion in debt. Each share of CalAtantic may be exchanged…Original Article
Year in review: 25 largest residential transactions in Tampa Bay in 2017
The photo gallery below features the 25 largest residential deeds including multifamily, ranked by sale price lowest to highest, recorded from Dec. 1, 2016, through Dec. 1, 2017. American City Business Journals, parent company of the Tampa Bay Business Journal, gathered the information. Read more year in review stories here:Original Article
Brazilian race car driver Hélio Castroneves puts South Florida home on the market
Brazilian race car driver Hélio Castroneves has put his 4,000-square-foot Fort Lauderdale home on the market for $2.9 million, almost three times what he initially paid for the house. Catroneves has won the Indianapolis 500 three times, and is also is known for winning the fifth season of "Dancing with the Stars." Castroneves' waterfront home is located at 325 Seven Isles Drive in Fort Lauderdale. It has five bedrooms; 4.5 baths; a private, gated entry, and a custom chef’s kitchen. According…Original Article
Raymond James sues Lowe’s over investment banking deal
Raymond James & Associates, the broker-dealer subsidiary of Raymond James Financial Inc., has filed a lawsuit against Lowe’s Companies Inc., alleging the home improvement company breached its investment banking contract when it made a $512 million acquisition in June. Lowe’s (NYSE: LOW) used a different investment banking financial advisor when it bought Maintenance Supply Headquarters LP, according to the suit Raymond James & Associates filed in U.S. District Court for the Middle District…Original Article
Texas still the top spot for relocations
2017 was a big year for those moving to Texas, as the Lone Star state continued its reign as America’s No. 1 growth state, according to a report from U-Haul. Year-over-year arrivals of one-way trucks in Texas rose 1 percent in last year while departures grew 3 percent compared to 2016, per U-Haul. Despite a larger year-over-year increase in departures, arriving trucks still accounted for 50.3 percent of all one-way U-Haul traffic in Texas, allowing it to maintain its status as the top net-gain…Original Article
Rock stars, hall of famers and race car drivers: Who’s making real estate plays?
One of the best ways to monitor the state of local economies is to follow residential home sales. Given that providing coverage of local trends is The Business Journals' sweet spot, we take particular note when bold-faced names begin to shake up the residential real estate market. This most-recent month saw stories that involved people from across the business, entertainment and sports worlds. We spotted homes being bought, marketed and sold by people like hall of fame baseball player Mike Piazza,…Original Article
Rosie O’Donnell sells South Florida mansion for $5M (photos)
Actress, comedian and talk show host Rosie O’Donnell sold her waterfront mansion in West Palm Beach for $5 million to businessman H. Wayne Huizenga Jr. and wife Fonda M. Huizenga. He’s the son of billionaire H. Wayne Huizenga, who led companies such as AutoNation, Blockbuster, and Waste Management, and also owned the Miami Dolphins, Florida Panthers, and the Florida Marlins. Huizenga Jr. leads Huizenga Holdings and is the CEO of Rybovich Marina in West Palm Beach. The home totals 7,592 square…Original Article
Grammy-winning producer Timbaland spends millions on new Miami condo
Grammy-winning producer Timbaland has agreed to acquire two units in the new Aria on the Bay condominium in Miami. Developer Melo Group didn’t disclose the price. However, the units were listed for about $4 million, according to sources familiar with the deal. Timbaland, whose real name is Timothy Zachery Mosley, can close on the deal when the condo tower receives its temporary certificate of occupancy (TCO), which is expected by March. The two units will be combined into one space totaling 4,700…Original Article