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This morning, Bloomberg reported that Wall Street’s largest commercial real estate landlord, private equity giant Blackstone, has defaulted on a $562 million bond. This bond was backed by a portfolio of offices and stores owned by Sponda Oy, a Finnish landlord acquired by Blackstone in 2018. This default is a significant event in the financial […]
The Securities and Exchange Commission today announced the resolution of its fraud action against Eric J. “EJ” Dalius and the business he owned, Saivian LLC. Dalius and Saivian LLC have agreed to pay $24 million in disgorgement, prejudgment interest and penalties to settle the SEC’s claims against them for operating a multi-million dollar Ponzi and […]
Blackstone’s retail real estate fund limited investor withdrawals in January after outsize redemption requests that totaled more than $5 billion. Blackstone Real Estate Income Trust, known as BREIT, posted a statement Wednesday on its website that it filled 25% of investor withdrawal requests during January, in keeping with a policy of limiting monthly redemptions to […]
The president and a top officer of a real estate investment company were charged for their roles in a scheme to defraud more than 2,000 investors in a $650 million Ponzi scheme, and with conspiring to evade $26 million in tax liabilities, according to the U.S. Attorney’s Office. Thomas Nicholas Salzano, aka “Nicholas Salzano,” 64, of […]
An over-concentrated securities account is one where a significant portion of the portfolio is invested in a single security or a small group of securities. This can lead to a number of problems, such as: Increased Risk: Investing a large portion of one’s portfolio in a single security or a small group of securities increases […]