Did You Know? Blackstone sells Cosmopolitan Casino And Hotel For $5.65 Billion. To paraphrase the immortal words of Kenny Rogers: You gotta know when to hold ‘em, know when to fold ‘em, know when to walk away...and know when to sell your 3,000-room hotel, casino, nightclub, and resort for billions of dollars. Blackstone first acquired the resort in 2014 for $1.8 billion, and has since upped the ante with an additional $500 million spent on renovations and upgrades. Now, seven years later, the gamble has paid off. The company scored a $4.1 billion profit (including cash flow) (WSJ).
Did You Know? Important news from DC this week indicates a positive outlook for 1031 exchanges to survive in their current form. The House of Representatives Ways and Means Committee advanced a reconciliation bill that did not include any changes to 1031, or several of the other tax reform proposals that had been floated earlier in the year which would have affected real estate investors.
Did You Know? Amazon and Macy's are in a tiff: Amazon wants to place a large AMAZON billboard above the Macy's store.... imagine someone using your 'real estate' at your expense.....hmmmmm.
Did You Know? Testing paint colors used to be cumbersome and messy.....but https://www.colorshop.com/ allows you to pick out your colors and they will ship peel and stick on 9" x 14.75" swatches to you to apply to your wall to see how you like the color before painting an entire wall or room.
Did You Know? We have a 3-bedroom on AISLE 9..... Russian billionaire Sergey Gordeev, whose PIK Group surged nearly 140% this year to become Europe’s most valuable homebuilder, thinks his industry is due for a disruption or risks going the way of gas-guzzling cars and brick-and-mortar stores. Gordeev has ambitions to transform his company, now worth about $13 billion, into a global leader in modular housing that can build towering apartment blocks in weeks and establish a platform that makes buying and renting apartments more like shopping for groceries online.
