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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKimco Realty CEO: A lot of deferred services during Covid are coming back strongKimco Realty CEO Conor Flynn joins 'Money Movers' to discuss the company's quarterly earnings results, the different tenets Kimco has, and more.
Persons: Conor Flynn Organizations: Kimco Locations: Covid
Watch CNBC's full interview with RXR Realty CEO Scott Rechler
  + stars: | 2024-02-06 | 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 EmailWatch CNBC's full interview with RXR Realty CEO Scott RechlerRXR Realty CEO Scott Rechler joins 'Squawk on the Street' to discuss why Rechler's been so outspoken about troubles in the commercial real estate sector, if it's too early to put capital to work in real estate, and more.
Persons: Scott Rechler RXR, Scott Rechler, Rechler's, it's Organizations: RXR
Washington, DC CNN —The storms pummeling California this week hit a part of the US already being battered by a home insurance crisis. With insurers strained by climate change and inflation, many are demanding higher premiums, making it much harder to find affordable (or any) home and fire insurance. But it is not just California; homeowners in other areas prone to weather events like Florida, Louisiana, and Texas are also facing challenges. Meanwhile, in hurricane-battered Florida, Farmers Insurance deemed it too risky to continue insuring homes and pulled out of that market entirely. “This isn’t just climate change, it is climate-change-plus,” Bach said.
Persons: , Amy Bach, United, Michael Monaghan, Sellers, you’ve, Jennifer Branchini, Bach, Hurricane Andrew, ” Bach, mitigations Organizations: DC CNN, Allstate, Farmers Insurance, Coldwell, California Association of Realtors, National Oceanic, Atmospheric Administration, Hurricane, FAIR, California Department of Insurance Locations: Washington, California, Florida , Louisiana, Texas, San Francisco, California’s, Golden State, Florida, Vermont, Colorado, Pleasanton, United, “ Florida, Louisiana
RXR Realty CEO on commercial real estate risks
  + stars: | 2024-02-06 | 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 EmailRXR Realty CEO on commercial real estate risksRXR Realty CEO Scott Rechler joins 'Squawk on the Street' to discuss why Rechler's been so outspoken about troubles in the commercial real estate sector, if it's too early to put capital to work in real estate, and more.
Persons: Scott Rechler, Rechler's, it's Organizations: RXR
The firm pointed to recent data from the International Energy Agency, which forecasted that electricity consumption from data centers, artificial intelligence and the cryptocurrency sector could double by 2026. "The latest IEA electricity forecasts paint an even more alarming outlook for data center consumption," analyst Hiral Patel wrote in a Monday note. Barclays said it is looking at three investment areas that are a key part of the trend: data center operators, data center suppliers and data center grid infrastructure builders. After successfully using lithium-ion batteries at a Dublin data center , Microsoft wants to expand grid-interactive battery storage in other areas. That includes nine data centers in Ireland, which is a data center hotspot in Europe that's also under increased risk given its soaring electricity consumption, Barclays said.
Persons: Hiral Patel, Morgan Stanley's, Europe that's, Stifel Nicolaus, Eaton Organizations: Barclays, International Energy Agency, CNBC, Microsoft, Electricity, Constellation, Digital Realty Trust, Digital, European Union, Blackstone, Digital Realty, Devices, AMD, Tech Locations: Japan, U.S, Dublin, Ireland, Europe, European, Frankfurt, Paris, Virginia
The three major averages posted gains for the fourth week in row, lifted by strong quarterly earnings results for most of the Big Tech companies and a strong jobs report. A weaker ADP Employment report on Wednesday provided no read-through to the monster January jobs report Friday. Here's what we're keeping an eye on in the coming week: 1. Earnings: It's another big earnings week head for the portfolio, with 8 more of our companies reporting. Consistency is what we appreciate most from nat gas giant Linde , so we're hoping for another quarter of solid earnings growth Tuesday.
Persons: Estee Lauder, Eli Lilly, Mounjaro, Nelson Peltz, Estée Lauder, Tyson, CARR, Jacobs, Willis Towers Watson, Edwards, Walt Disney, Oscar Health, Philip Morris, Armour, BAX, BILL, Jim Cramer's, Jim Cramer, Jim, George Frey Organizations: Big Tech, Dow Jones Industrial, Nasdaq, PMI, Apple, Starbucks, Procter, Gamble, GE Healthcare, DuPont, Linde, Ford, General Motors, Trian Partners, Disney, ESPN, Wynn Resorts, Wynn, Vegas, Prix, Estée Lauder Companies, Caterpillar, McDonalds Corp, Allegiant Travel, Bowlero Corp, Tyson Foods, TSN, Air Products & Chemicals, IDEXX Laboratories, CNA Financial Corp, CNA, Timken Company, Graham Corporation, Mesa Laboratories, Sphere Entertainment, Loews Corp, Technologies, Vertex Pharmaceuticals, Semiconductors, Simon Property Group, Amkor Technology, FMC Corporation, FMC, BellRing Brands, Crown Holdings, ChampionX Corporation, Golub Capital BDC, Flexsteel Industries, Kilroy Realty Corp, Gladstone Capital Corp, Unibanco, S.A, Snack Foods Corp, Kimball Electronics, Skyline Corp, Cabot Corporation, Simpson Manufacturing Co, Varonis Systems, Co, GE HealthCare, Linde plc, LIN, Spotify Technology S.A, BP, Hertz Global Holdings, AeroSystems Holdings, Toyota Motor Corp, Cummins, CMI, Software Technologies, AGCO Corporation, Carrier Global Corporation, Lear Corp, CONSOL Energy, Centene Corporation, Gartner, Arcbest Corp, CTS Corporation, Energizer Holdings, Hamilton Lane Incorporated, KKR, Precision Drilling Corporation, Frontier Group Holdings, Waters Corp, Alfa Laval, Aramark Holdings Corp, FirstService Corporation, Garden Sports Corp, New Jersey Resources Corp, nVent Electric plc, PJT Partners, Resources, Sensata Technologies, Ford Motor Company, Enphase Energy, Grill, VF Corp, Edwards Lifesciences Corp, Gilead Sciences, Lumen Technologies, Cognizant Technology Solutions Corp, Weatherford International plc, Amcor plc, Arrowhead Pharmaceuticals, Advanced Energy Industries, Uber Technologies, CVS Health, Roblox Corporation, Ares Capital Corp, Bunge, XPO Logistics, Scotts Miracle, Gro Company, Berry Global, Flex LNG, Equinor ASA, Griffon Corporation, OneMain Holdings, Brookfield Asset Management, Emerson Electric Co, Hilton Worldwide Holdings, Reynolds Consumer Products, Silicon Laboratories, Brands, Sciences, CDW Corp, Fox Corporation, WYNN, PayPal, Arm Holdings plc, ARM, Axcelis Technologies, Mattel, Paycom, Annaly Capital Management, McKesson Corp, Health Corporation, O'Reilly Automotive, Allstate Corp, Fluence Energy, Power Systems, Digital Turbine, Blue Bird Corp, Everest Group, Omega HealthCare, Coty, COTY, ConocoPhillips, Cameco Corp, Philip Morris International, Spirit Airlines, Hershey Company, Lightspeed Commerce, Aurora Cannabis, Lincoln National Corp, P, Tenet Healthcare Corp, Asbury Automotive Group, Arrow Electronics, Baxter International, PetMed, Boyd Gaming Corp, FirstEnergy Corp, Motorola Solutions, Terex Corp, PepsiCo, Growth, AMC Networks, Owl, American Pipeline, TELUS International, Magna International, Newell Brands, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: U.S, China, Macau, Wynn Macau, Valvoline, VVV, ALFVY, Madison, New Jersey, Gilead, Ceridian, ORLY, Paycor, Aurora, Provo , Utah
LOS ANGELES (AP) — One of the nation's largest real estate brokerages has agreed to pay $70 million as part of a proposed settlement to resolve more than a dozen lawsuits across the country over agent commissions. In October, a federal jury in Missouri found that the National Association of Realtors and several large real estate brokerages, including Keller Williams, conspired to require that home sellers pay homebuyers' agent commission in violation of federal antitrust law. More than a dozen similar lawsuits are pending against the real estate brokerage industry. Two other large real estate brokerages agreed to similar settlement terms last year. In their respective pacts, Anywhere Real Estate Inc. agreed to pay $83.5 million, while Re/Max agreed to pay $55 million.
Persons: brokerages, , Michael Ketchmark, Keller Williams, homebuyers, , ” Gary Keller, Max Organizations: ANGELES, Keller Williams Realty Inc, National Association of Realtors, Inc Locations: Illinois, Missouri, Austin , Texas
While demand for artificial intelligence applications is seeing rapid growth, several non-tech companies are well-positioned to benefit directly from the AI boom over the next few years, according to Scotiabank. This is because although GPUs, the specialized chips that power AI applications, are more efficient, they consume more than twice as much electricity to operate compared to non-AI chips such as CPUs. The Scotiabank analysts named six stocks that they think are well-positioned to capitalize on surging demand for data centers and renewable energy from AI applications. Meanwhile, earlier this week, fellow data center firm Equinix launched a new cloud service that will allow companies to manage their Nvidia AI supercomputing infrastructure to build AI applications. Due to their massive, power-hungry data centers, Scotiabank noted that the tech companies are the largest corporate consumers of renewable power.
Persons: Equinix, AI's Organizations: Scotiabank, Analysts, Digital Realty, Digital, Nvidia, supercomputing, JV, Big Tech, Google, Microsoft, NextEra Energy, NextEra Energy Partners, Brookfield Renewable Partners, Big
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLuxury listings continue to outperform the general market: Sotheby's International's Philip WhitePhilip White, Sotheby's International Realty president and CEO, joins 'The Exchange' to discuss Sotheby's' 2024 luxury outlook, where luxury listings are concentrated in the U.S., and more.
Persons: Philip White Philip White, Sotheby's Organizations: Sotheby's International Realty Locations: U.S
CNN —Emma Stone has just finished playing a morally complicated home-flipper in the first season of “The Curse,” and now the actor is selling her own newly-renovated Los Angeles abode. Ryan Lahiff/Sotheby’s International RealtyStone expanded the vaulted kitchen with eat-in dining. Ryan Lahiff/Sotheby’s International RealtyPops of color and maximalist touches give the home a cheery feeling. Ryan Lahiff/Sotheby’s International RealtyThe bathroom, with a claw foot tub, is full of charm and sunlight. Ryan Lahiff/Sotheby’s International Realty
Persons: Emma Stone, Stone, , Eric Lavey, Xavier Collin, Lavey, “ It’s, , ” Stone, Dave McCary, Ryan Lahiff Organizations: CNN, Image Press Agency, Stone Locations: Los Angeles, Los Angeles , New York, Austin , Texas, , Arizona, New York, Texas
Too said groceries, gas, and even movie tickets are less pricey in Las Vegas. Katz, a big sports fan, said some of his favorite things to do in the city are watching the Las Vegas Knights and the Las Vegas Aviators, a Minor League baseball team (an affiliate of Major League Oakland Athletics, who are moving to Las Vegas in the near future ). With the 2024 Super Bowl taking place in Las Vegas, Hamrick argued that the city has recently become a sports "mecca." AdvertisementTo receive that kind of hospitality, you don't have to venture far from the bustling parts of Las Vegas. Too said he lives only three miles from the Strip but feels worlds away from the flashy Las Vegas people envision.
Persons: , Richard Katz, Katz, Vegas , Nevada Allan Baxter, Andrew Arevalo, Bob Hamrick, Michael Too, Arevalo, that's, I've, Paolo Becarelli, Hamrick, Strip Katz, He's, It's Organizations: Service, Business, Sin City —, Las Vegas, Census, Coldwell Banker, Las Vegas Knights, Las Vegas Aviators, Minor League baseball, Major League Oakland Athletics, Strip Locations: Virginia, West, Sacramento, Seattle, Florida, Texas, . Colorado, Reno, California, Las Vegas, Vegas , Nevada, Sin, Vegas, Nevada, Sin City, Texas , Arizona, Washington, Utah, San Francisco, Bay, Redfin, Mount Charleston, Fire, Summerlin, Indiana, Western, it's
Emma Stone is selling her home in Los Angeles. The four-bedroom, four-bathroom house is listed for nearly $4 million. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementJust months after her home-improvement drama series "The Curse" premiered on Showtime, Emma Stone got into the actual real-estate game. This story is available exclusively to Business Insider subscribers.
Persons: Emma Stone, , Eric Lavey Organizations: Service, Showtime, Sotheby's, Beverly, Business Locations: Los Angeles, Comstock, Beverly Hills
Read previewA corner of the internet believes "The Color Purple" star Taraji P. Henson and Oprah Winfrey are feuding, even though they've never spoken ill of each other publicly. Danielle Brooks, Blitz Bazawule, Fantasia Barrino, Taraji P. Henson, and Oprah Winfrey on December 12, 2023, in New York City. Taraji should have waited until after the Color Purple hype was over to speak publicly on her pay being too low. pic.twitter.com/afrWpc7vTD — James Jones (@jamesjonesesq) December 21, 2023"I haven't seen a raise in my income since 'Proud Mary' and almost had to walk away from 'The Color Purple,'" Henson said. Henson called out the frustrations of working on 'The Color Purple' in a New York Times interviewTaraji P. Henson as Shug Avery in "The Color Purple."
Persons: , Henson, Oprah Winfrey, they've, Winfrey, Gayle King, Danielle Brooks, Oprah, Taraji P, Arturo Holmes, Brooks, Sofia, O, Danielle Brookes, Winfrey's, Fantasia Barrino, Fantasia, Dimitrios Kambouris, Realty Trust Henson, Mary, Shug Avery, afrWpc7vTD — James Jones, Instagram, OPRAH, Taraji, Lynsey Weatherspoon, Henson Oprah Winfrey, Tommaso Boddi, I've, Barrino, Toby Emmerich Organizations: Service, Business, Warner Bros, CBS, Hotel, Hollywood, The Hollywood, Empire, Oprah, Getty, Realty Trust, New York Times, 81st Golden Globe, Beverly Hilton Hotel, Entertainment, Globes Locations: New York City, Atlanta, Beverly Hills , California
As investors confront uncertain markets in the short term, dividend paying stocks could offer some portfolio stability and income. Civitas ResourcesFirst, there is independent oil and natural gas producer Civitas Resources (CIVI). This payment included a base dividend of $0.50 per share and a variable dividend of $1.09 per share. (See Civitas Insider Trading Activity on TipRanks)Williams CompaniesWe move to another energy dividend stock – Williams Companies (WMB). Williams recently acquired a portfolio of natural gas storage assets from Hartree Partners LP's affiliate for $1.95 billion.
Persons: Eric Greager, Wall, Nitin Kumar, Kumar, TipRanks, Williams, Selman Akyol, Akyol, KIM, Kimco Realty's, Simon Yarmak Organizations: Civitas Resources, NYSE, Williams, Hartree Partners, U.S, TipRanks, Kimco, RPT Realty, Aid, Kimco Realty Locations: Denver, Civitas, U.S, Transco, Kimco
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. A home on 50 acres outside Nashville, Tenn., has sold for $32 million, setting a record for the state, according to listing agent Steve Fridrich of Fridrich & Clark Realty.
Persons: Steve Fridrich Organizations: Clark Realty Locations: Nashville, Tenn
Abercrombie & Fitch cofounder David T. Abercrombie's castle is on sale in New Castle, New York. AdvertisementA castle built by an Abercrombie & Fitch cofounder could be yours for just short of $3 million. Fee Sotheby's International Realty , was completed in 1927 by David T. Abercrombie, the cofounder of Abercrombie & Fitch, according to its listing on Realtor. Abercrombie founded the Abercrombie Company in 1892 as a sporting goods store, the company's website states. It became Abercrombie & Fitch in 1904 when Ezra Fitch joined as Abercrombie's partner, but Abercrombie left the company by 1910 when it opened its first department store.
Persons: David T, it's, , Christina Diminno, Julia B, Abercrombie, Abercrombie &, William Pitt Julia B, Elizabeth, Lucy, David, Abbott —, Diminno, Abercrombie's, It's, Ezra Fitch Organizations: Abercrombie, Fitch, Service, Abercrombie & Fitch, Westchester Magazine, Morgan, Corp, Abercrombie Company, Gen Locations: New Castle , New York, Manhattan, Scottish
Glassdoor released its 2024 list of top workplaces based on how US-based employees feel about them. Glassdoor recently published its new Best Places to Work ranking based on how US-based employees felt about their workplaces. AdvertisementWhile Microsoft ranked high on the 2024 list, ranking No. Google fell just short of the top 25 in the 2024 list, ranking No. AdvertisementBelow are the top 25 large companies to work for according to the 2024 US list along with their Best Places to Work rating, which was on a five-point scale.
Persons: Glassdoor, Raymond James Financial, , Keller Williams, Burger, Bain Organizations: Bain & Company, eXp Realty, Service, Best Places, U.S, Microsoft, Management, Best, Google
The president of the National Association of Realtors on Monday said she was resigning due to a blackmail threat that sought to "compromise" her leadership role. NAR President Tracy Kasper said she had notified the group's leadership team "that she recently received a threat to disclose a past personal, non-financial matter unless she compromised her position at NAR." President-elect Kevin Sears will immediately step into the post at the group, which represents more than 1.5 million members working in the residential and commercial real estate industries. and the majority owner of two other real estate companies in the state, according to her NAR bio. Also, the article was updated to reflect that Kasper wasn't president of the NAR in 2016.
Persons: Tracy Kasper, Kasper, Kevin Sears, Kenny Parcell, Bob Goldberg, Berkshire Hathaway, Silverhawk, CNBC's Diana Olick, Kasper wasn't Organizations: National Association of Realtors, NAR, New York Times, CNBC PRO Locations: Berkshire, Boise Valley , Idaho
watch nowA sharp drop in mortgage interest rates in December may have kickstarted this year's spring housing market early. Optimism about mortgage rates increased sharply in December, according to a monthly consumer survey by Fannie Mae. "This significant shift in consumer expectations comes on the heels of the recent bond market rally," said Palim. "Notably, homeowners and higher-income groups reported greater rate optimism than renters." The average rate on the 30-year fixed has been on a wild ride since the start of the Covid pandemic.
Persons: Fannie Mae, Mark Palim, Ryan Paredes, Ariadna Paredes, Ryan Ratliff, Joe Raedle, Paul Legere Organizations: Max Advance Realty, Getty, . Washington , D.C Locations: Cutler Bay , Florida, . Washington ,
Remote workers may also seek out cities with cultures they enjoy more, those that are walkable, and those that are well-connected via a major airport, she said. All of them have median home prices relatively close to, or below, the national median of $408,573, according to Redfin data. And they are all significantly less expensive than median prices in New York or Boston, which hover near $800,000, or San Francisco and Los Angeles, which both have median prices over $1 million. The eight cities also have below-average costs of living, according to the Council for Community and Economic Research's Cost of Living Index. We've listed the eight cities below, their median home prices, populations, cost of living index scores, and major airports.
Persons: Nicole Beauchamp, we've, Beauchamp Organizations: Sotheby's, Business, Council for Community Locations: New York, Boston, San Francisco, Los Angeles
With interest rates expected to come down in 2024, real estate — a sector beloved for its steady income payments — could see upside in the new year. "When rates are low, a lot of income-oriented investors see that REIT dividend as very attractive, and they are willing to take the risks associated with equity investment to have this dividend payment." Jefferies is neutral on the office REIT sector but has raised its rating on Boston Properties to buy from hold. The senior housing occupancy rate was 84.4% in the third quarter of 2023, according to the National Investment Center for Seniors Housing & Care . That's up more than 6 percentage points from the pandemic low of 77.8%, but it's still off from the pre-pandemic occupancy rate of 87.1%.
Persons: REITs, Kevin Brown, Jefferies, Peter Abramowitz, Morningstar's Brown, it's, Brown, JPMorgan's Anthony Paolone, Ventas, — CNBC's Michael Bloom, Chris Hayes Organizations: Federal Reserve, Treasury, Boston Properties, Boston, National Investment Center, Seniors Housing & Care, Realty Locations: U.S, Boston, Friday's
The S & P 500 rose 24% in 2023, ending the year just shy of a record closing high. The highest S & P 500 target on the Street calls for 8.7% upside from Thursday's close. A fund with exposure to small and midcap semiconductor stocks is the SPDR S & P Semiconductor ETF (XSD) . Exposure to this space can be obtained through the SPDR S & P Health Care Equipment ETF (XHE) . For these investors, Bailey likes Berkshire Hathaway , calling it a counter-cyclical sitting on a ton of cash.
Persons: Larry Adam, Raymond James, Robert Kaplan, Steven Wieting, Wieting, there's, Mike Bailey, — Bailey, Bailey, They're, Berkshire Hathaway, Eli Lilly, they're, Jack Ablin, Ablin, Rowe Price Organizations: Nasdaq, Dow Jones Industrial, CNBC Pro's, Survey, National Association for Business Economics, Dallas Federal, CNBC, Bank of America, Fed, CNBC Pro, Citi Global Wealth, Nvidia, Meta, Microsoft, P Semiconductor, P Health Care, FBB Capital Partners, Corporate, Aggregate Bond, Berkshire, Essex Property Trust, Federal Realty Trust, Rowe Price Group Locations: Essex
Padel is said to be one of the world's fastest-growing sports, with 25 million players in over 90 countries. AdvertisementThe country's fastest-growing sport, pickleball, may have some competition. A standard-sized court is 66 feet by 33 feet, bigger than a pickleball court but smaller than a doubles tennis court. And Enclave, a gated community about 35 miles from Chicago in South Barrington, Illinois, is also set to have a communal padel court. Once they got hooked on padel, he said, they started converting them to padel courts.
Persons: Padel, , Haven't, It's, Andy Murray, David Beckham, Omar Vega, padel, Marko Gojanovic, Gojanovic, Mia, Aly, khan Merali, Turnberry, Merali, Michael DeRosa, Kelli Ide, that's Organizations: Service, CNN, The New York Times, Business Locations: Mexico, Padel, Miami's, Miami Beach, South Florida, Turnberry, North Miami, Turnberry's, Spain, York, Central, Chicago, South Barrington , Illinois, Lake, Skaneateles, Skaneateles , New York, Atlanta, Los Angeles
We're adding to our Eaton position after learning about data center news that makes us even more bullish about this power management company. Late Thursday, Blackstone and Digital Realty announced a huge joint venture to develop $7 billion worth of data centers across Europe and North America. News like this is fantastic for Eaton, whose largest end market by sales is Data Centers & Distributed IT, representing about 15% of sales. In the press release announcing the deal, Gray said, "Data centers are experiencing once-in-a-generation demand growth, driven by cloud adoption and the AI revolution." AI data centers require both higher power and higher power density relative to traditional data centers, resulting in three times the electric content.
Persons: Jim Cramer's, Eaton, Jon Gray, Blackstone, Gray, Jim Cramer, Jim, Brendan Mcdermid Organizations: ETN, Blackstone, Digital Realty, Centers, Data Center, Data, CNBC, New York Stock Exchange Locations: Eaton, Europe, North America, New York City, U.S
That helped India expand at a forecast-beating 7.6%, making it one of the world's fastest-growing major economies. It has been driven by rising incomes for many Indians, a severe housing shortage in big cities and strong population growth. Builders are bullish long-term with many saying the boom could last two to three years and some even more optimistic. "The housing market could continue to perform well for another three to four years," Sanjeev Jain, managing director at Parsvnath Developers, a leading real estate company, noting that India is in the initial stages of a housing growth cycle. The government is also trying to boost the availability of affordable housing by providing subsidies, which is encouraging construction in India's smaller towns and cities.
Persons: Nifty, Sunil Sinha, Sanjeev Jain, Prashant Thakur, Jayesh Rathod, Narendra Modi's, Manoj Kumar, Nigam, Ira Dugal, Edwina Gibbs Organizations: DELHI, Fitch, Builders, Parsvnath Developers, Reuters, Graphics, Advisory, Prestige Estates, DLF, Reuters Graphics, Thomson Locations: India, China, Mumbai, New Delhi, Bangalore, rocketed, Thane, Tamil Nadu, Karnataka, Gujarat
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