USA Property

One of the wealthiest families in Brazil has plans to bulk up its U.S. real estate holdings.Votorantim SA, a holding company controlled by the Ermirio de Moraes family, is looking to accumulate nearly $1 billion in real estate assets in the United States in the next five years, Bloomberg reported. The company’s property arm, Altre Empreendimentos e Investimentos Imobiliarios SA, has already invested $200 million in equity and loans.Altre’s holdings are spread across the United States and Brazil, with the U.S. representing 20 percent of its portfolio. Within the U.S.,...

CHARLESTON, S.C. (WCIV) — Charleston-based Greystar Real Estate Partners, the largest property management company in the country, has been ordered to pay over $1.4 million to US military servicemembers after the Justice Department found it had imposed illegal fees on individuals who terminated their leases after receiving military relocation orders. The DOJ alleged that Greystar used a software it knew would automatically charge early termination fees on servicemembers protected under the Servicemembers Civil Relief Act. The company will pay out triple damages to effected military members and their co-tenants, tallying...

Homeowners are awaiting the launch of the state’s first year of the Stay NJ property tax benefit. The new tax break cuts property tax bills by 50%, to a maximum of $6,500, for senior citizen homeowners and those who receive Social Security Disability payments and meet other eligibility requirements.For the first time, there’s a new, combined application for all the state’s property tax benefits — ANCHOR, Senior Freeze and Stay NJ. A separate ANCHOR application for renters and for homeowners under age 65 will be released sometime this summer. The...

MAPFRE USA, the holding company for a number of property and casualty insurance companies, has appointed Mark Pasko as Executive Vice President (EVP), General Counsel and Secretary of US operations, effective July 21st, 2025. In his new role, Pasko will be responsible for MAPFRE’s legal, regulatory and government affairs in the US, along with compliance, state filings and corporate governance matters. He has decades of corporate counsel, insurance and management experience. Most recently, Pasko was Chief Legal Officer of QBE North America managing the legal and regulatory affairs for the...

The problem: Reducing or getting rid of property taxes would eliminate dollars local governments rely on for needed services.How well will the Florida Legislature work with Gov. Ron DeSantis?FLORIDA TODAY's John Torres discusses the 2025 legislative session with reporters James Call and John Kennedy in this excerpt fro the Florida Pulse.Florida lawmakers excluded property tax cuts from the recently approved state budget and tax package.House and Senate leaders plan to study the potential impact of property tax reductions on local governments before considering further action.While a potential property tax cut...

(Bloomberg) -- The pain in US commercial real estate credit continues to bubble to the surface after a surge in borrowing costs and the rise of work from home left lenders vulnerable to losses.  Delinquencies continue to increase, though the rate has moderated, researcher Green Street said this past week. Distress is also climbing, rising 23% to more than $116 billion at the end of March from a year earlier, data compiled by MSCI Real Capital Analytics show. That’s the highest in more than a decade. Investors including Victor Khosla...

Malibu's iconic coastal route, Pacific Coast Highway, is expected to see delays this upcoming weekend as property clearing efforts necessitate the closure of a southbound lane. According to a KTLA report, the lane closure is scheduled south of Big Rock Drive from 5:00 a.m. to 5:00 p.m. on Saturday and Sunday. In light of the anticipated work by the U.S. Army Corps of Engineers, officials are cautioning drivers to prepare for potential holdups throughout the weekend. While the weather in Malibu is expected to attract beachgoers with forecasts predicting afternoon...

Everyday millionaires increase in volume and wealth, report shows. Strong performance in financial markets and a stable US dollar helped boost global wealth by 4.6% in 2024, accelerating from 4.2% in the previous year. Within this, a significant cohort dubbed EMILLIS – Everyday Millionaires with Investable assets of between one and five million dollars – saw their population quadruple since 2020 to 52 million by the end of 2024. These wealthy people control $107 trillion, not far off the $119 trillion held by those with investable assets of $5 million...