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☆ The owner of a 1,900-square-foot house next to the Masters golf course kept turning down millions of dollars to sell
▼ + stars: | 2023-06-14 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

"We really don't want to go," Elizabeth Thacker told NJ.com in 2016. Here is a view of the house from Google Street View, with Augusta National in the background. It's like the Martians have landed," Pirample told Golf Digest. One woman, who initially told Augusta National she wanted to stay in the house until she died but eventually sold, agreed about the lights and noise. "I could do without the lights and the generators and all the noise," Kittie Baker told Golf Digest.

Persons: —, Steve Politi, Thacker, Stanley Dr, Augusta, Herman, Elizabeth Thacker didn't, Elizabeth Thacker, NJ.com, Graig, Elizabeth, Peter Larson, Politi, William Hatcher, Hatcher, John Pirample, Pirample, Kittie Baker, Herman Thacker's, Jerry Thacker, Herman Thacker, Scott Brown, Sarah Stier, Emmett Knowlton Organizations: Augusta National, Service, Golf Club, Street, Google, Summer House Realty, Augusta, Golf, PGA, Masters Locations: Georgia, Herman

☆ Oracle says it's seeing 'exploding AI demand' and Deutsche Bank touts one stock as a big beneficiary
▼ + stars: | 2023-06-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

A surge in demand for artificial intelligence at Oracle should have a positive effect on Digital Realty Trust , Deutsche Bank said. Analyst Matt Niknam pointed to commentary from Oracle CEO Safra Catz around "exploding AI demand" and "unprecedented" demand for the company's cloud services. Niknam has a $112 price target on Digital Realty, which implies shares could rally about 8% from Tuesday's close. As a real estate investment trust, Digital Realty also pays a dividend yield of about 4.6%. Demand is picking up for AI offerings from Digital Realty despite the company not doing much related leasing activity to date, Niknam said.

Persons: Matt Niknam, Safra, Niknam, — CNBC's Michael Bloom Organizations: Oracle, Digital Realty Trust, Deutsche Bank, Safra Catz, Digital Realty Locations: Tuesday's

☆ Apple shares hit an all-time high. What Wall Street says happens from here
▼ + stars: | 2023-06-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

As Apple sets a new record, Wall Street remains conflicted over the trajectory for shares in the near term. The iPhone maker notched a new all-time high on Monday, a week after hitting an intraday high . AAPL YTD mountain Apple shares in 2023 But with the jump in shares putting Apple about 2% shy of Wall Street's consensus price target, questions remain over the likelihood of more upside in the near term. As of midday Tuesday, Apple shares traded at a forward price-to-earnings multiple of more than 31 times, above the multiple for the broader S & P 500. Despite Apple's steepening stock price and some reservations about its valuation, many analysts are keeping their bullish stance.

Persons: Paul Meeks, Research's Angelo Zino, Bullish, Dan Ives, Ives, Tim Cook, it's Organizations: Apple, UBS, Securities, Big Tech Locations: Cupertino

☆ The owners of a 1,900 square foot house next to the Masters golf course keep turning down millions of dollars to sell
▼ + stars: | 2023-06-11 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

Augusta National has spent $200 million buying up property around the course for two decades. According to The Wall Street Journal, Augusta National spent over $200 million purchasing over 100 properties covering 270 acres since 1999. Here is a view of the house from Google Street View, with Augusta National in the background. It's like the Martians have landed," Pirample told Golf Digest. "I could do without the lights and the generators and all the noise," Kittie Baker told Golf Digest.

Persons: —, Steve Politi, Thacker, Stanley Dr, Augusta National's, Herman, Elizabeth Thacker don't, Elizabeth Thacker, NJ.com, Elizabeth, Graig, Peter Larson, Politi, Herman Thatcher's, William Thatcher, Hatcher, John Pirample, William Thatcher's, Pirample, Kittie Baker, Thatcher, hasn't, we're, Scott Brown, Sarah Stier, Emmett Knowlton Organizations: Augusta National, Service, Augusta National Golf Club, Wall Street, Independent, Google, Summer House Realty, Augusta, Golf, Masters Locations: Georgia

☆ How tech companies are working to help detect AI-generated images
▼ + stars: | 2023-06-08 | by ( Jennifer Korn | ) edition.cnn.com time to read: +10 min

In recent months, an AI-generated image of Pope Francis in a puffer jacket went viral and AI-generated images of former President Donald Trump getting arrested were widely shared, shortly before he was indicted. Some lawmakers are now calling for tech companies to address the problem. Reality Defender and Hive Moderation are working on the former. Other tech companies like Google appear to be pursuing a playbook that pulls a bit from both approaches. “We need everybody to participate.”For now, however, tech companies continue to move forward with pushing more AI tools into the world.

Persons: Jeffrey McGregor, “ We’re, we’re, ”, McGregor, ” McGregor, Pope Francis, Donald Trump, Vera Jourova, –, “, Dall, ChatGPT, ” Hany Farid, ” Farid, Tom Cruise deepfake, ” Ben Colman, Kevin Guo, ” Guo, —, Andy Parsons, Bing, Farid, ” Parsons Organizations: New, New York CNN, Microsoft, ” Tech, European, Google, Meta, Big Tech, Reality, University of California, CNN, Realty, “, Coalition, Adobe, CAI, BBC, Intel, Sony Locations: New York, EU, Berkeley

☆ Cramer's Lightning Round: Stay away from Novocure
▼ + stars: | 2023-06-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Plug Power's year-to-date stock performance. Stock Chart Icon Stock chart icon Nuscale Power's year-to-date stock performance. Stock Chart Icon Stock chart icon LyondellBasell's year-to-date stock performance. Stock Chart Icon Stock chart icon Novocure's year-to-date stock performance. Stock Chart Icon Stock chart icon Eaton's year-to-date stock performance.

Persons: they've, Nuscale, Eaton, Owens, Owens Corning Locations: Eaton

June 5 (Reuters) - Tighter lending standards from regional banks are making it harder for U.S. hotel developers to secure funding, slowing construction of new hotels at a time Americans' appetite for travel is ripe. Analysts say slower hotel development will also limit profits of blue-chip manufacturers like Caterpillar Inc. , whose commercial real estate customers account for around 75% of construction sales. Overexposed regional banks are now offloading commercial real estate loans at a discount. Troubled regional lender PacWest Bancorp (PACW.O) announced in May it would sell $2.6 billion worth of real estate construction loans. Banks started to reduce their hotel loan portfolios in the first quarter of 2023, an analysis by S&P Global Market Intelligence found.

Persons: Joseph Delli Santi, James Hansen, Andy Ingraham, Ingraham, Evens Charles, Banks, Mitchell Hochberg, Bianca Flowers, Caroline Stauffer, Deepa Babington Organizations: U.S, Silicon Valley Bank, Shopoff, Reuters, Build Central Inc, Hilton, Hilton Worldwide Holdings Inc, Marriott International, Caterpillar Inc, Signature Bank, First Republic Bank, National Association of Black, Developers, Frontier Development, Hospitality Group, Washington D.C, PacWest Bancorp, P Global Market Intelligence, Lightstone, Thomson Locations: Silicon, California, Florida , Texas, Washington, Arizona, New York, Chicago, Bengaluru

☆ This beaten-down sector could be a bright spot in commercial real estate
▼ + stars: | 2023-06-06 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +6 min

As the market reassesses the value of office properties, investors have been steering clear of many commercial real estate stocks. Greg Kuhl, a portfolio manager at Janus Henderson, said he likes the outlook for Alexandria Real Estate Equities , a pure-play owner of life sciences centers. Malhotra said he sees lab REITs as a "lower-beta way to play the volatile Life Sciences environment." But each of these companies are more broadly diversified and have exposure to other types of commercial real estate. Kilroy, for example, had been focused in properties in the tech hubs, but it now has a growing life sciences portfolio.

Persons: Greg Kuhl, Janus Henderson, Kuhl, hasn't, Vikram Malhotra, Mizuho, Malhotra, Healthpeak's, Kilroy Organizations: Alexandria Real, stoke, Food and Drug Administration, Research, Biotech, Sciences, iShares Biotechnology, Boston Properties, Kilroy Locations: Alexandria, Ventas

☆ Digital Realty CEO Andrew Power: A.I. technology will live in a data center
▼ + stars: | 2023-06-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDigital Realty CEO Andrew Power: A.I. technology will live in a data centerCNBC's Diana Olick and Digital Realty CEO Andrew Power join 'Squawk Box' to discuss the company's growth drivers, the impact of A.I., rising interest rates, and more.

Persons: Andrew Power, Diana Olick Organizations: Digital, Digital Realty

Persons: Joseph Delli Santi, James Hansen, Andy Ingraham, Ingraham, Evens Charles, Banks, Mitchell Hochberg, Bianca Flowers, Caroline Stauffer, Deepa Babington Organizations: U.S, Silicon Valley Bank, Shopoff, Reuters, Build Central Inc, Hilton, Hilton Worldwide Holdings Inc, Marriott International, Caterpillar Inc, Signature Bank, First Republic Bank, National Association of Black, Developers, Frontier Development, Hospitality Group, Washington D.C, PacWest Bancorp, P Global Market Intelligence, Western Alliance, Lightstone, Thomson Locations: Silicon, California, Florida , Texas, Washington, Arizona, New York, Chicago, Bengaluru

☆ Take a tour of MLB legend David Ortiz's swanky $10.6 million mansion in Miami that set a record for the area's most expensive home
▼ + stars: | 2023-06-03 | by ( Cork Gaines | ) www.businessinsider.com time to read: +1 min

David Ortiz is unloading his mansion in the ritzy Pinecrest area of Miami. The Red Sox legend is asking $12.5 million, which would be a record for the area. Ortiz and his wife, Tiffany Ortiz, have filed for divorce, and the pair sold the house because their children are grown, according to The Wall Street Journal. The house sold for $10.6 million, a record for the Pinecrest area of Miami. The previous high was the $10.5 million paid for a house in 2022 by Tyler Herro of the Miami Heat.

Persons: David Ortiz, —, Michael Martinez, Ortiz, Tiffany Ortiz, Tyler Herro Organizations: The Red Sox, Service, Wall Street, Miami Heat Locations: Miami

The S & P 500 is up 1.8% week to date, on pace for a third consecutive week in the green. Cruise companies Royal Caribbean and Norwegian Cruise Line also had a strong week, gaining 7.8% and 9.3%, respectively. The consensus price target for shares implies just 7.2% additional upside, per FactSet data. Another cruise line on the list is Carnival , which saw shares rise 6.7% week to date. Dish could soar an additional 124.1% based off the average price target on shares.

Organizations: Dow Jones Industrial, Nasdaq, Match, Cruise, Royal, Royal Caribbean, Dish, Bloomberg News, Enphase Energy, Intel, Netflix, Digital Realty Trust Locations: Royal Caribbean

☆ This under-the-radar real estate stock could be a winner of the A.I. boom
▼ + stars: | 2023-05-31 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The boom in artificial intelligence should create a big winner in one of the economic areas investors are most worried about, according to Jefferies. Analyst Jonathan Petersen said in a Tuesday note to clients that Digital Realty Trust, a real estate company focused on housing data centers, will gain pricing power because of the extra demand for computing power created by AI. Digital Realty is part of the broader commercial real estate sector, which many investors are trying to avoid with higher rates and signs the economy is slowing. "DLR's stock is up +14% since NVDA 's earnings release, but the stock only trades at a 15.6x [adjusted funds from operations] multiple. Jefferies has a buy rating and a price target of $129 per share for Digital Realty, or about 28% above where the stock closed Tuesday.

Persons: Jonathan Petersen, Jefferies, — CNBC's Michael Bloom Organizations: Jefferies, Digital Realty Trust, Digital Realty Locations: Petersen

The S&P 500 (.SPX) index closed flat but remained near its highest level since August 2022, just above 4,200 points. The S&P 500 and the Nasdaq were still set for monthly gains in May. Over the weekend, U.S. President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy agreed to temporarily suspend the debt ceiling and cap some federal spending. But I firmly believe a debt ceiling agreement will be approved before the June 5 drop dead date." Only four of the S&P 500's 11 sectors were higher, while declining stocks outweighed advancing shares on both the S&P 500 and Nasdaq.

Persons: Joe Biden, Kevin McCarthy, McCarthy, Sam Stovall, Anthony Saglimbene, Thomas Hayes, FEDWATCH, Elon Musk, Shreyashi Sanyal, Shashwat Chauhan, Shounak Dasgupta, Maju Samuel, David Gregorio Our Organizations: Dow Jones, Nasdaq, Republican, Republicans, Nvidia Corp, Reuters Graphics Reuters, Digital, Federal, Semiconductor, Nvidia, Great, Capital, Labor, Thomson Locations: New York, Troy , Michigan, Philadelphia, China's, Beijing, Bengaluru

☆ Stephen Schwarzman says Blackstone has dumped office investments. Another corner of the firm kept lending billions.
▼ + stars: | 2023-05-30 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +8 min

Blackstone Mortgage Trust's $8.2 billion portfolio of office loans leaves it exposed to the sector. The Blackstone-managed firm issued about $3.3 billion of US office loans since the pandemic began. Even as clouds began to gather, Blackstone Mortgage Trust continued to lend to the office sector. In addition to managing the mortgage trust, Blackstone is among its largest shareholders. A Washington office complex shows how far values have fallenThere are ongoing issues, however, in Blackstone Mortgage Trust's portfolio.

☆ A family transformed a 1930s schoolhouse into an adorable cottage with an original cloakroom and chalkboard — see inside
▼ + stars: | 2023-05-30 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: 1 min

In 2021, the Hallett family paid $70,000 for a schoolhouse in upstate New York, near the scenic Finger Lakes region. The schoolhouse after its renovation. Livingston Begy for Empire Realty GroupThe schoolhouse is in Springwater, New York, according to the Realtor.com listing and blog post, which is a rural town that's a 45-minute drive south of Rochester and a 90-minute drive southeast of Buffalo.

☆ Cramer's Lightning Round: Vornado is a buy
▼ + stars: | 2023-05-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Zscaler's year-to-date stock performance. Stock Chart Icon Stock chart icon Iovance Biotherapeutics' year-to-date stock performance. Stock Chart Icon Stock chart icon Lucid Group's year-to-date stock performance. Stock Chart Icon Stock chart icon Navigator Holdings' year-to-date stock performance. Stock Chart Icon Stock chart icon Schrodinger's year-to-date stock performance.

Persons: Iovance Biotherapeutics, Iovance Organizations: Palo Alto Networks, Holdings, Navigator Holdings, Vornado Realty Locations: New York

☆ 5 red flags to look out for when working with a real-estate agent, according to experts
▼ + stars: | 2023-05-23 | by ( Elana Klein | ) www.businessinsider.com time to read: +5 min

From unclear fees to conflicts of interest, there are signs you should find a new real-estate agent. Keep an eye out for conflicts of interestClients singing documents with a real-estate agent. "In truth, it is the responsibility of the seller's agent to maximize the seller's return on investment. As a seller, your real-estate agent's availability to show your home to interested parties should be unbroken," she continued. "The commission paid to the real-estate agent is often a portion of the property's sales price.

☆ Take a look inside a $14 million penthouse in San Francisco's tallest residential building, which was sinking and tilting for years before it was fixed
▼ + stars: | 2023-05-21 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

A penthouse on the 60th floor of San Francisco's Millennium Tower has hit the market at $14 million. The building was famously sinking and tilting for years before construction began to fix the issue. The condo isn't located in just any building: It's in Millennium Tower. The Tower is known for being the city's tallest residential building, yes, but it's also famous for the fact that it was sinking and tilting for several years before construction began to remedy the issues. After years of structural recorrection, the building is now fully anchored to bedrock, according to Sotheby's International Realty, which is listing the property.

☆ Nearly 75% of home purchases in a Bay Area city were made by LLCs or trusts. It's a trend among the wealthy.
▼ + stars: | 2023-05-21 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

The city near San Francisco is one of the richest areas of the country, on average. It's also part of a trend which has wealthy Americans creating trusts or LLCs to buy homes. It's also a prime example of a new trend among the country's wealthiest homebuyers, according to the Chronicle. On one block highlighted by the Chronicle's report, just two of the 12 homes are actually owned by individual people, with the rest owned by trusts, LLCs, or other kinds of corporations. "If someone sets up a trust, it's almost like a corporation that continues to live beyond the person," Michael Repka, CEO and managing broker for DeLeon Realty, told the San Francisco Chronicle.

☆ This startup uses generative AI to speed up the property-buying process. Check out the 14-slide pitch deck Orbital Witness used to raise $9 million.
▼ + stars: | 2023-05-19 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Orbital Witness uses generative AI to speed up the due diligence process when buying properties. The London-based startup has raised $9 million in a round led by US property tech investor Parker89. A startup that uses generative AI to streamline the lengthy due diligence associated with buying property has raised $9 million in a round led by US investor Parker89. Amid a tougher funding environment, Pearce said that the team was still very specific about who they took money from and skewed towards property tech investors. The round was led by property tech investors Parker89, which has backed Properly, Flyhomes, and Orchard.

☆ Office landlords are in store for retail redux
▼ + stars: | 2023-05-19 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

NEW YORK, May 19 (Reuters Breakingviews) - Office landlords are in store for pain, but there’s a light at the end of the hallway. Though vacancy rates in the United States recently hit a 30-year high, owners of retail space – shopping malls and grocery stores – have shown that a bounce back is possible. A reset is in store, but the best office landlords can make it, too. But retail real estate, which includes everything from malls to shopping centers, went through its own misery. It might be a slog, as retail shows, but office could be in store for a redux.

☆ PGA star Justin Thomas is selling his 'starter' mansion and it's the ultimate bachelor pad
▼ + stars: | 2023-05-19 | by ( Cork Gaines | ) www.businessinsider.com time to read: +1 min

Justin Thomas and Tiger Woods are so close that Tiger considers JT part of his family. Thomas is selling his 'starter' house in Jupiter, Florida, the home of many top golfers, including Tiger. The $3.5 million house has everything a wealthy young bachelor would want in a house. The property, dubbed Thomas' "starter house" by Golf Digest, is on the market for $3.5 million just months after he got married, and is being listed by former golfer Johnny DelPrete of Douglas Elliman Realty. So it's no surprise that the house for sale is just three miles from Tiger's home on Jupiter Island.

☆ Amazon is abandoning several of its Fresh stores and seeking tenants to sublease them and one landlord is suing over rent
▼ + stars: | 2023-05-19 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Amazon is trying to sublease several planned Amazon Fresh stores in the Midwest. Amazon has opened fewer Fresh stores for months, but grocery remains a priority for the company. Amazon is also facing a lawsuit from its landlord at a planned Amazon Fresh location in Philadelphia, according to the Philadelphia Business Journal. Amazon has been slowing the pace of new Amazon Fresh store openings for the better part of a year. Do you work at an Amazon Fresh store and have a story idea to share?

☆ Exclusive: Staff at top U.S. farm research center file complaint alleging unsafe work conditions
▼ + stars: | 2023-05-19 | by ( Leah Douglas | Thomson Reuters | Washington-Based Award-Winning Journalist Covering Agriculture | ) www.reuters.com time to read: +11 min

The Beltsville Agricultural Research Center (BARC) near Washington D.C. is the largest research facility owned by the U.S. Department of Agriculture (USDA) and has long been the flagship of U.S. farm research. “Our employees’ health and well-being is our top priority," a spokesperson at USDA’s Agricultural Research Service (ARS), which oversees BARC, told Reuters. STAFF CUTSFounded in 1910, the BARC facility spans nearly 7,000 acres in Prince George’s County, Maryland, near the nation’s capital. The unreliable conditions are affecting research outcomes, making it at times impossible to complete experiments or replicate their findings, said two research employees. On February 22, several BARC employees met with Thomas Shanower, the director of USDA’s Northeast Area, a division that oversees 15 research centers, including BARC.

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