CHICAGO–(BUSINESS WIRE)–Cresset Partners and Diversified Real Estate Capital announced today the loan closing and construction start for the Cresset Diversified QOZ Fund (“Fund I”) investment in the Residences at RiNo multifamily development in Denver, Colorado.
This investment marks the fourth joint venture between Cresset Diversified and Hines, representing over $750 million in opportunity zone developments around the country. Led by Cresset Diversified’s experienced team of real estate, private equity, tax, and legal professionals, Fund I invests in institutional-quality, core real estate development projects and focuses specifically on well-positioned urban neighborhoods in high-growth markets like Denver.
Residences at RiNo is a build-to-core multifamily real estate project located in North Wynkoop, a premier master-planned district and is the only available multifamily development site within the master plan which is located in a qualified opportunity zone, just north of Downtown Denver. The property will be an 11-story, mid-rise residential building with
Wall Street closed out its best week in three months Friday as investors drew encouragement from ongoing negotiations on Capitol Hill aimed at delivering more aid to the ailing U.S. economy.
The S&P 500 rose 0.9%, its third straight gain. The benchmark index ended the week with a 3.8% gain, its strongest rally since early July.
Much of this week’s focus has been on Washington, where President Donald Trump sent markets on a sudden skid Tuesday after he halted negotiations on a support package for the economy until after the election. He appeared to change his mind a few hours
The S&P 500 rose 30.31 points to 3,477.14. The Dow Jones Industrial Average gained 161.39 points, or 0.6%, to 28,586.90. The gain nudged the Dow into positive territory for the year. The Nasdaq composite climbed 158.96 points, or 1.4%, to 11,579.94.
Small-company stocks added to their solid gains this week. The Russell 2000 index picked up 9 points, or 0.6%, to 1,637.55. The index jumped 6.4% this week.
Investors have been clamoring for more federal aid since the expiration of extra benefits for laid-off workers and other stimulus for the economy that Congress approved earlier this year. Economists say the outlook is grim without such support, and the chair of the Federal Reserve has said repeatedly it will likely be necessary.
Still, the prospects for a new deal on more aid have been shaky, especially this week.
Trump said that House Speaker Nancy Pelosi was negotiating in bad faith when
It was supposed to be the year that James Bond and Wonder Woman duke it out for box-office supremacy, while marking the triumphant return of the Ghostbusters, Godzilla, giant Arrakis sandworms and hotshot naval pilot Maverick on the big screen.
Instead, it turned into a year of darkened movie theaters and pushed back release dates for potential Hollywood blockbusters because of the coronavirus pandemic.
Nearly all movie theaters in Central Massachusetts are shut down.
Regal Cinemas announced this week that all 536 theaters nationwide would be “temporarily suspending” all operations at the end of the day on Thursday, including Regal Cinemas Solomon Pond 15 in Marlboro.
In addition, Cinemagic in Sturbridge, Cinemaworld in Fitchburg, Elm Draught House in Millbury, Entertainment Cinemas in Leominster, Gardner Cinemas in Gardner, Strand Theatre in Clinton, and West Boylston Cinemas have all been closed for months. Showcase Cinema North in Worcester, which is owned by
There’s not much good news coming out of the airline industry these days. Many carriers have grounded large portions of their fleets, slashed flight schedules in response to travel restrictions and border closures, and even put up their frequent-flier programs as collateral for loans and bailouts. But at least one bright spot landed at London Heathrow Airport earlier this week in the form of a gleaming new first-class suite with closing doors aboard British Airways’ most recently delivered Boeing 777-300ER aircraft.
Last year, the airline began a much-needed update of its business-class cabins, starting with the Airbus A350-1000s joining its fleet, and followed by a refurbishment of some Boeing 777s, then the delivery of its first Boeing 787-10s earlier this year. Taking a cue from newer suite-style layouts with closing doors that can be found aboard competitors like