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RAIT Financial Trust
RAIT Financial Trust (Resource Asset Investment Trust) is a real estate investment trust owned by Fortress Investment Group that manages commercial real estate loans and properties. It is headquartered at 130 West 42nd Street, New York City. History RAIT was founded in August 1997 by Resource America, Inc. at which time it was led by Betsy Z. Cohen. In January 1998, the company became a public company via an initial public offering. In December 2006, the company merged with Taberna Financial Realty Trust. In August 2007, during the subprime mortgage crisis, the company suffered due to its exposure to American Home Mortgage. In July 2009, the company sold its residential mortgage portfolio to Angelo Gordon for $15.8 million and took a $62 million loss on the sale. In March 2014, Urban Retail Properties became a subsidiary of the company. In November 2015, the company signed a lease to move its offices from the Cira Centre. In May 2017, the company sold UBS Plaza for $14 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
130 West 42nd Street
The Bush Tower (also the Bush Terminal Building, the Bush Terminal International Exhibit Building and formerly the Bush Terminal Sales Building) is a skyscraper in the Midtown Manhattan neighborhood of New York City, just east of Times Square. Designed by Frank J. Helmle and Harvey Wiley Corbett of the firm Helmle & Corbett, the building occupies a plot at 130–132 West 42nd Street between Broadway and Sixth Avenue. The Bush Tower was built for Irving T. Bush's Bush Terminal Company, which operated Bush Terminal in Sunset Park, Brooklyn, New York City. The 30-story section of the tower facing 42nd Street was developed between 1916 and 1918 and is tall. A 10-story wing, completed in 1921, extends south to 41st Street. The Bush Tower's design combined narrowness, height, and Neo-Gothic architecture, and the massing contains several setbacks to comply with the 1916 Zoning Resolution. The facade contains trompe-l'œil brickwork, which creates vertical "ribs" with a false ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Wire
Business Wire is an American company that disseminates full-text press releases from thousands of companies and organizations worldwide to news media, financial markets, disclosure systems, investors, information web sites, databases, bloggers, social networks and other audiences. It is a subsidiary of Berkshire Hathaway. History Business Wire was founded in 1961 by Lorry I. Lokey. It started by sending releases to 16 media outlets in California. Business Wire launched its website in May 1995. In 2000, ahead of its main competitor PR Newswire, Business Wire ended the practice of distributing news to financial outlets 15 minutes before anyone else, to provide immediate, equal access to company information as noted by the SEC's fair disclosure regulation (Reg FD). Business Wire's first wholly owned European operation launched in 2001, with the opening of an office in London. On June 1, 2005, Business Wire entered the German Ad-Hoc market with a disclosure network for companies with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Formerly Listed On The New York Stock Exchange
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1998 Initial Public Offerings
1998 was designated as the ''International Year of the Ocean''. Events January * January 6 – The ''Lunar Prospector'' spacecraft is launched into orbit around the Moon, and later finds evidence for frozen water, in soil in permanently shadowed craters near the Moon's poles. * January 11 – Over 100 people are killed in the Sidi-Hamed massacre in Algeria. * January 12 – Nineteen European nations agree to forbid human cloning. * January 17 – The ''Drudge Report'' breaks the story about U.S. President Bill Clinton's alleged affair with Monica Lewinsky, which will lead to the House of Representatives' impeachment of him. February * February 3 – Cavalese cable car disaster: A United States military pilot causes the deaths of 20 people near Trento, Italy, when his low-flying EA-6B Prowler severs the cable of a cable-car. * February 4 – The 5.9 Afghanistan earthquake shakes the Takhar Province with a maximum Mercalli intensity of VII (''Very strong''). With up to 4, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1997 Establishments In Pennsylvania
File:1997 Events Collage.png, From left, clockwise: The movie set of ''Titanic (1997 film), Titanic'', the List of highest-grossing films, highest-grossing movie in history at the time; ''Harry Potter and the Philosopher's Stone'', is published; Comet Hale-Bopp passes by Earth and becomes one of the most observed comet, comets of the 20th century; Golden Bauhinia Square, where sovereignty of Hong Kong is Handover of Hong Kong, handed over from the United Kingdom to the People's Republic of China; the 1997 Central European flood kills 114 people in the Czech Republic, Poland, and Germany; Korean Air Flight 801 crashes during heavy rain on Guam, killing 229; Mars Pathfinder and Sojourner (rover), Sojourner land on Mars; flowers left outside Kensington Palace following the death of Diana, Princess of Wales, in a car crash in Paris., 300x300px, thumb rect 0 0 200 200 Titanic (1997 film) rect 200 0 400 200 Harry Potter rect 400 0 600 200 Comet Hale-Bopp rect 0 200 300 400 Death of Diana ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hedge Fund
A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as short selling, leverage, and derivatives. Financial regulators generally restrict hedge fund marketing to institutional investors, high net worth individuals, and accredited investors. Hedge funds are considered alternative investments. Their ability to use leverage and more complex investment techniques distinguishes them from regulated investment funds available to the retail market, commonly known as mutual funds and ETFs. They are also considered distinct from private equity funds and other similar closed-end funds as hedge funds generally invest in relatively liquid assets and are usually open-ended. This means they typically allow investors to invest and withdraw capital periodically based on the fund's net asset value, whereas pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Magnetar Capital
Magnetar Capital is a hedge fund based in Evanston, Illinois. The firm was founded in 2005 and invests in fixed income, energy, quantitative and event-driven strategies. The firm was actively involved in the collateralized debt obligation (CDO) market during the 2006–2007 period. In some articles critical of Magnetar Capital, the firm's arbitrage strategy for CDOs is described as the "Magnetar trade".The Magnetar Trade: How One Hedge Fund Helped Keep the Bubble Going , by Jesse Eisinger and Jake Bernstein, , April 9, 2010 The company has additional offices in |
Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, and the term ''bankruptcy'' is therefore not a synonym for insolvency. Etymology The word ''bankruptcy'' is derived from Italian ''banca rotta'', literally meaning "broken bank". The term is often described as having originated in renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment so that the public could see that the banker, the owner of the bench, was no longer in a condition to continue his business, although some dismiss this as a false etymology. History In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PlazAmericas
PlazAmericas, formerly known as Sharpstown Mall and earlier Sharpstown Center, is a shopping mall located in the Sharpstown development in Greater Sharpstown, Houston, Texas. The mall is located on the northwest corner of Interstate 69/ U.S. Route 59 and Bellaire Boulevard. This is the third mall to be built in Houston after Gulfgate Mall opened in 1956 and Meyerland Plaza in 1957, but the first fully air-conditioned mall in Houston. The area includes the Jewelry Exchange Center, a ten-story building. After the mall was renamed PlazAmericas, it took a Latin American theme and catered to Hispanics. The anchor stores are Burlington, SuperNova Furniture, America Cinemas, La Sorella, Gold Factory & Imports, and Clarewood Supermercado. It was built in Sharpstown Industrial Park Section 12. History Beginnings and prime years (1961–1990s) The mall opened as ''Sharpstown Center'', on September 14, 1961, mere days after Hurricane Carla affected Houston, with future United States Senator ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UBS Plaza
UBS Plaza is a 25-story high-rise office building in downtown St. Paul, Minnesota. The building was completed in 1980 as part of the Town Square mixed-use complex. It is occupied by UBS Financial Services, architecture/engineering firm TKDA, and several law firms. History The building was completed in 1980 and originally named the Conwed Tower. After the Meritor Mortgage Corporation moved into the top two floors of the towers in 1987, it was renamed to Meritor Tower. The tower was originally owned by a consortium of limited partnerships, but the Saint Paul Port Authority was forced to takeover in 1991 after a lawsuit revealed financial issues. The tower was renamed to Piper Jaffray Plaza after Piper Jaffray moved its offices into the building in 1993. It was sold to RAIT Financial Trust in 2012 and acquired by CIG-UBS in 2017 for $14 million. MPR Raccoon On June 12, 2018, a stranded raccoon climbed to the 22nd story of the tower and became an internet sensation, attractin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cira Centre
The Cira Centre is a 29-story, office high-rise in the University City section of Philadelphia, directly connected to Amtrak's 30th Street Station. Developed by Brandywine Realty Trust and designed by César Pelli, it was built in 2004-05 on a platform over rail tracks. The building, a silver glass curtain wall skyscraper with of floor space, includes retail and restaurant space, a conference room, a nine-story parking garage and a pedestrian bridge that links the lobby with 30th Street Station. The building's lighting, designed by Cline Bettridge Bernstein Lighting Design, includes a wall of LEDs on most of its facade that can change color to create various patterns and effects. The Cira Centre built in a Keystone Opportunity Zone, a state-designated district established to combat urban decay (in this case, part of an underused railyard) by exempting tenants of new buildings from almost all state and local taxes. History The site of the Cira Centre used to be a parking dec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Urban Retail Properties
Urban Retail Properties is a third-party retail management company based in Chicago. The company develops shopping complexes and other retail centers across the United States, in addition to help managing retail space development. The company partnered with Long Runn Urban Development Group in Shanghai in 2008. As of 2021 it owns over 50 shopping centers. A news article in 2003 described Urban Retail as "the nation’s largest third-party retail manager". History In 1984, Aetna sold Urban Investment and Development Corporation of Chicago, to JMB Real Estate Group, for $1.4 billion. In 1993, JMB spun off its retail properties into Urban Shopping Centers, and was traded on NYSE and CSE under "URB". In 2000, Urban was purchased by Rodamco North America. In 2001, Westfield Trust bought 25% of USC and Rodamco North America. The next year, Rodamco was fully sold to Westfield, Rouse, and Simon Property Group. In May 2005, Urban was purchased in a management buyout deal, becomin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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