Sumitomo Realty Seeks $700 Million Office Sale Amid Elliott Push

Sumitomo Realty & Development Co., the Japanese developer facing pressure from Elliott Investment Management to boost its value, is seeking to sell a group of office properties in Tokyo for at least ¥100 billion ($700 million), according to people with knowledge of the matter.
The developer has earmarked 19 midsized office buildings for the divestment, according to documents seen by Bloomberg. It has asked real estate investment firms and agencies to estimate the value of the offices, which it is considering selling separately, the people said, asking not to be identified because the matter is private. It is also weighing the sale of eight rental apartment buildings in the city, they said.

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Charting the Global Economy: Key Central Banks Hold on Rates

Central bankers in the US, UK and Japan held the line on interest rates this week as officials attempt to gauge the impact of tariffs, uncertainty about economic activity and war in the Middle East. While the median forecast from US Federal Reserve officials showed two interest-rate cuts by the end of the year, seven policymakers — up from four at the March meeting — indicated they see no reduction.

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Tompkins County home listings asked for less money in May - see the current median price here

The median home in Tompkins County listed for $475,000 in May, down 2.5% from the previous month's $487,000, an analysis of data from shows. Compared to May 2024, the median home list price increased 2% from $468,500. The statistics in this article only pertain to houses listed for sale in Tompkins County, not houses that were sold. Information on your local housing market, along with other useful community data, is available at Tompkins County's median home was 2,240 square feet, listed at $216 per square foot. The price per square foot of homes for sale is up 6.8% from May 2024. Listings in Tompkins County moved briskly, at a median 39 days listed compared to the May national median of 51 days on the market. In the previous month, homes had a median of 34 days on the market. Around 92 homes were newly listed on the market in May, a 24.3% increase from 74 new listings in May 2024. The median home prices issued by may exclude many, or even most, of a market's homes. The price and volume represent only single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales. Across the Ithaca metro area, median home prices fell to $472,000, slightly lower than a month earlier. The median home had 2,240 square feet, at a list price of $216 per square foot. In New York, median home prices were $699,000, the same as April. The median New York home listed for sale had 1,578 square feet, with a price of $435 per square foot. Throughout the United States, the median home price was $440,000, a slight increase from the month prior. The median American home for sale was listed at 1,840 square feet, with a price of $234 per square foot. The median home list price used in this report represents the midway point of all the houses or units listed over the given period of time. Experts say the median offers a more accurate view of what's happening in a market than the average list price, which would mean taking the sum of all listing prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high price. The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu. Our News Automation and AI team would like to hear from you. Take this survey and share your thoughts with us. This article originally appeared on Ithaca Journal: Tompkins County home listings asked for less money in May - see the current median price here

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Collier County apartments for rent saw slight price decreases in May

Renters in Collier County saw apartment listing prices slightly decrease from April's average of $1,684, an analysis of new data from Apartment List shows. The average apartment listed for rent at $1,679 in May. Average listing prices in Collier County are trending slightly downwards from April's $1,684 price, down 4% from this time last year. The data is inclusive of all bedroom sizes, from studios to three-bedroom units, so while it is a good indicator of how rents are moving in the area, it does not include single family homes for rent, said Chris Salviati, senior housing economist for Apartment List. One-bedroom apartments listed to rent at an average of $1,461, ​slightly lower than April, when they were $1,465. Since last year, one-bedroom rental prices ​dropped 4% from $1,522. Two-bedroom apartments listed for rent were slightly lower than April at an average of $1,597, compared to $1,602. Since last year, two-bedroom rental prices dropped 4% from $1,664. Statewide, Florida rental listing prices are no change since April's average of $1,541. In Florida, one-bedroom rentals were listed for an average of $1,301, the same as April. Two-bedroom rental listing prices are steady to April's average of $1,538. In Collier County, the average apartment listed for rent is 9% above the state average. One-bedroom rentals were 12% above the state average, while two-bedrooms listed 4% above. Nationwide, apartment rental listing prices slightly increased from last month's $1,392 to $1,398. One-bedroom rentals across the nation listed for an average of $1,228, just higher than last month's average of $1,223, while two-bedroom rental listing prices slightly rose from last month's average of $1,378 to $1,384. In Collier County, the average apartment listed for rent is 20% above the national average. One-bedroom apartment rentals listed 19% above the national average, with two-bedroom rentals listed 15% above. The average apartment rental prices used in this report are gathered from Apartment List, which estimates the median rent using median rent statistics from the Census Bureau's American Community Survey and a growth rate calculated from their listing data. Read more about their rent estimate methodology here. The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Apartment List. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu. Our News Automation and AI team would like to hear from you. Take this survey and share your thoughts with us. This article originally appeared on Naples Daily News: Collier County apartments for rent saw slight price decreases in May