Patrick Kavanagh Chicago | Activist wants a real estate play at HBC

Hudson’s Bay Co. should close and redevelop the stores it owns if it can’t operate profitably as a retailer, according to a U.S. activist investor who revealed his interest on Monday.

“Hudson’s Bay is a real estate company, full stop,” reads the public letter to HBC’s board of directors from Jonathan Litt, founder and chief investment officer of Land & Buildings Investment Management, LLC, based in Stamford, Conn.
The firm has acquired approximately 4.3 per cent of Hudson’s Bay shares.
“If there is a smarter and better use of any or all of the locations, stores should be closed and redeveloped and put towards their optimal use,” reads the letter from Litt.

It points to the Saks Fifth Avenue location across from the Rockefeller Center in New York City as an example of HBC’s prime real estate, describing the spot as “likely one of the most valuable locations not only in Manhattan, but in the United States,” and asks whether the best use of the property is as a store.

“What about a hotel…

Patrick Kavanagh Chicago | Real Estate Opener $215,000

House of the Week: A $215000 - modernist mansion in Lawrence Park. A look inside one of the most expensive properties on the market

Patrick Kavanagh Chicago | Majority of Trump real estate sold to anonymous buyers

The majority of real estate properties sold by President Trump’s corporations since he clinched the Republican nomination for president have been purchased by shell companies, a new investigation has found.

USA Today spent six months analyzing the transactions of every real estate property that Trump and his companies own and found that 70 percent of purchasers were shell companies, which allow people to buy property without revealing the buyer’s name

Only 4 percent of the buyers used shell companies in the two years before, according to the newspaper.
Trump’s businesses have sold $33 million in properties since Election Day last November, including 28 properties spanning New York, Las Vegas and Los Angeles, according to the report.

Profits from the sale of the properties go into a trust that is managed by Trump’s sons, but which Trump is the sole beneficiary and can withdraw money from at his pleasure.

The newspaper used public records to attempt to identify the buyers behind some of …

Patrick Kavanagh KRI Property Group - Real Estate California Luxury Homes - Video Dailymotion

Patrick Kavanagh Chicago - Real Estate California Luxury Homes - Video Dailymotion: Real Estate California is the incarnation of the American Dream, often featured in the media from TV shows to films and Hollywood, the home of cinema, is one of the state’s most alluring destinations. Los Angeles boasts the ‘golden triangle’ of prestigious neighborhoods formed by Beverly Hills, Bel Air and Holcomb Hills, all of which are home to magnificent luxury villas owned by celebrities and affluent professionals.

Roger Ailes was selling parts of his New York real estate

Roger Ailes was a polarizing figure in Putnam County, with his supporters pointing to his philanthropy while his detractors said his weekly newspapers unfairly treated Democrats. Wochit

PHILIPSTOWN, N.Y.Fox News founder Roger Ailes was a major property owner in this town across from West Point on the Hudson about 50 miles upriver from New York.

But the 77-year-old was divesting his holdings here at the time of his death Thursday.

"In the past couple of years, he has put several of those properties on the market," said Bill Hussung, a real-estate broker and owner of Robert A. McCaffrey Realty in Cold Spring, N.Y.

He and his wife, Elizabeth, had a reason they had accumulated a real-estate portfolio in an area along Beverly Warren Road, Hussung said.

"He famously bought a really gorgeous property on top of a mountain overlooking Boscobel and Cold Spring and then bought surrounding properties to keep them open" so that they had no neighbors, Hussung said. "That’s k…