First time buyer mortgage completions fell in 12 months to March 2019

UK Finance | May 17, 2019

The number of first time buyer mortgages completed has fallen for the first time since September 2018 and the buy to let lending market is continuing to contract, the latest industry figures show. There were 28,800 new first time buyer mortgages completed in March 2019, down 2.4% year on year and the first fall in eight months, according to the data from industry body UK Finance. The data also shows that there were 25,280 home mover mortgages completed in the month, down 6% compared with the same month last year but there was a 4.1% rise in remortgages, the 12 month on a row of growth in this sector.

Spotlight presents it’s popular annual Canadian rental housing price and vacancy data INFOGRAPH outlining the status of pricing and vacancy rates of apartments rentals in cities across Canada. Overall pricing for apartments was stable with vacancy rates for most apartment communities at multi year lows.

Spotlight presents it’s popular annual Canadian rental housing price and vacancy data INFOGRAPH outlining the status of pricing and vacancy rates of apartments rentals in cities across Canada. Overall pricing for apartments was stable with vacancy rates for most apartment communities at multi year lows.

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PS Business Parks, Inc. Announces Expiration of “Go-Shop” Period Contained In Previously Announced Merger Agreement

PS Business Parks | May 31, 2022

PS Business Parks, Inc. announced the expiration of the “go-shop” period set forth in the previously announced definitive merger agreement with affiliates of Blackstone Real Estate, dated as of April 24, 2022 (merger agreement). Under the terms of the merger agreement, Blackstone has agreed to acquire all the outstanding shares of the Company’s common stock for $187.50 per share in an all-cash transaction valued at approximately $7.6 billion, including transaction expenses. The “go-shop” period expired at 11:59 p.m. (New York City time) on May 25, 2022. During the “go-shop” period, at the direction of PSB’s board of directors, representatives of J.P. Morgan Securities LLC and Eastdil Secured, financial advisors to PSB, actively solicited company acquisition proposals from 43 potentially interested third parties. To date, none of the third parties contacted by PSB or its financial advisors, or any other third parties, have made competing proposals following the execution of the merger agreement. Upon expiration of the go-shop period, PSB became subject to customary “no-shop” provisions that limit PSB and its representatives’ ability to negotiate competing proposals with, or provide non-public information to, third parties, subject to exceptions specified in the merger agreement. The transaction is expected to close in the third quarter of 2022, subject to approval by PSB’s stockholders and other customary closing conditions. Advisors J.P. Morgan Securities LLC is acting as lead financial advisor to PSB and provided a fairness opinion to the PSB board of directors in connection with the transaction. Eastdil Secured is acting as real estate advisor to PSB and is also acting as a co-financial advisor to PSB. Wachtell, Lipton, Rosen & Katz is serving as PSB’s legal advisor. About PS Business Parks PS Business Parks, Inc., an S&P MidCap 400 company, is a REIT that acquires, develops, owns, and operates commercial properties, predominantly multi-tenant industrial, industrial-flex, and low-rise suburban office space. Located primarily in major coastal markets, PS Business Parks’ 96 properties serve approximately 4,900 tenants in 27.0 million square feet of space as of March 31, 2022. The portfolio also includes 800 residential units (inclusive of units in-process).

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Cherre and Fortimize Announce Strategic Alliance

Cherre and Fortimize | August 12, 2022

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Blackstone Real Estate Income Trust Completes $5.8 Billion Acquisition of Preferred Apartment Communities, Inc.

Blackstone Real Estate Income Trust | June 24, 2022

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