In the Money

ARTICLES

  • Americans now have less equity to tap

    Tappable equity falls for the first time since the market's recovery
    According to the latest report from Black Knight, tappable equity on mortgaged properties is now $5.9 trillion – down from last quarter’s record-breaking $6 trillion. American homeowners with a mortgage lost about $2,300 in equity this quarter and now have $136,000 available to tap as a slowdown in home price appreciation dampens growth.
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  • Feds significantly expand investigation into all-cash real estate deals

    Title insurance companies’ reporting threshold lowered to $300,000
    Title insurance companies in 12 of the nation’s largest markets will now have to provide federal authorities with substantial details on all real estate deals of $300,000 or more if the buyer is paying all cash. The requirement comes at the hands of the Treasury Department’s Financial Crimes Enforcement Network, which is significantly expanding its investigation into whether foreign buyers are using shell companies to buy U.S. real estate in order to launder money.
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  • Black Knight paying $375 million to help buy Dun & Bradstreet

    Joins CC Capital, Cannae Holdings, Thomas H. Lee Partners in buying D&B
    Black Knight CEO Anthony Jabbour is about to have a new job, but he’s not leaving the growing financial technology giant. Rather, he’s tacking a new job title onto his existing responsibilities – running Dun & Bradstreet. The move is part of recently announced buyout of Dun & Bradstreet, which will see the company purchased for $5.38 billion in cash and taken private by a group of investors, including CC Capital, Cannae Holdings, and Thomas H. Lee Partners.
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  • Top multifamily operators band together, plan massive investment in real estate tech

    Launch venture capital fund with $108 million in the bank
    Five major multifamily real estate investment trusts, Aimco, Boardwalk, Essex Property Trust, MAA, and UDR, are partnering with private owners Starwood Capital Group, Cortland, and GID to invest more than $100 million in a venture capital fund, which will be used to invest in “disruptive real estate technology companies” in the multifamily industry.
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  • Fannie Mae plans $145 million investment in LIHTC funds

    GSE continues to focus on affordable housing
    After re-entering the Low Income Housing Tax Credit market just over a year ago, Fannie Mae is continuing its focus on affordable rental housing in underserved markets by committing $145 million in new investments in LIHTC funds. Here's a breakdown on where the money is going.
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  • New York developer admits to bilking investors in long-running luxury real estate Ponzi scheme

    Pleads guilty to defrauding investors out of $58 million
    A New York real estate developer admitted in court last week that he ran a luxury real estate Ponzi scheme that defrauded investors out of $58 million over several years. According to court documents, Michael D’Alessio took much of the money for his own benefit, using it to pay off debts and prior investors, and to fund significant gambling and other personal expenses.
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  • CoStar buying Cozy to turbocharge Apartments.com

    Integration will allow rental payments through Apartments.com site
    Apartments.com is already one of the top consumer websites for multifamily real estate, but the website’s parent company is not comfortable resting on its laurels. CoStar Group, which owns Apartments.com along with several other prominent online rental platforms, announced recently that it is buying Cozy Services for $68 million and plans to integrate the company’s online rental solutions into its websites.
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