Yvonne Lee - All Headline News Staff ReporterNew York, NY (AHN) - Blackstone Group announces Monday it has made a deal to buy CarrAmerica Realty Corp. for $5.6 billion.The Associated Press reports the private equity firm will acquire all of CarrAmerica’s shares for $44.75 each. This is a premium of nearly 9 percent over the company’s closing stock price of $41.08 on Friday.Jonathan Gray, senior managing director of The Blackstone Group, says in a statement, “(This) will provide us with a valuable platform for future investments in the office sector.”CarrAmerica’s board unanimously approved the deal and is recommending that shareholders also vote in favor of it.The commerical real estate company says it will pay dividends for the quarter ending March 31, but that will be the last.The company owns office properties in 12 markets throughout the United States. Article © All Headline News - All Rights Reserved
Source: www.allheadlinenews.com
Technorati Tags: Boca Raton Florida, Real Estate
Ayinde O. Chase - All Headline News Staff WriterOrlando, Florida (AHN) - According to the Florida Association of Realtors the pace of Florida’s housing market eased somewhat in November with statewide sales of existing single-family homes totaling 17,219 for a 1 percent increase over last year’s sales activity of 17,110 homes.Based on housing industry analysts, the markets nationwide are starting to see a better balance between demand and supply, allowing homebuyers and sellers to be on a more even footing.Converging with the rise in the real estate market, a rise in home prices is also combining with the boom the state has been experiencing.The statewide median sales price rose 31 percent in November to $250,500; a year ago, it was $191,300. In November 2000, the statewide median sales price was $117,900, which is an increase of about 112 percent over the five-year period. The median is the midpoint, which is a typical market price where half of the homes sold for more and half for less.The nation wide median sales price for existing single-family homes was $216,200 in October, a 16.6 percent increase over last year.However, in California, the statewide median resale price was $538,770 in October; in Maryland, it was $297,682; in New York, it was $269,000; and in North Carolina, the average resales price was $215,762.George Bodmer, president of the Greater Tampa Association of Realtors says, “The real estate market follows the jobs, and this area is basically a community that goes to work.” Bodmer continues, “We’ve got places to work, places to play, good schools and even with high demand and a tight inventory, we’ve been fortunate in that we still have homes available to buy. Buyers know housing is a good investment.” Article © All Headline News - All Rights Reserved
Source: www.allheadlinenews.com
Technorati Tags: Boca Raton Florida, Real Estate Market
