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✓ Published: 28-Jun-2024
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A landmark Yorkshire hotel has been purchased by a London-based real estate investor for an undisclosed sum – weeks after the property was valued at more than £30m.<br/>The property used by Malmaison York, based in the former Yorkshire House building once used by insurance giant Aviva as offices, has been sold to Firethorn Trust.<br/>The 29,000 sq ft site with 150 bedrooms is occupied by Malmaison under a 35-year lease, with a current rental income of £2.1m per annum.<br/>The hotel has only been open since 2021 following major redevelopment work overseen by Lothbury Property Trust.<br/>The sale price has not been disclosed but last month Lothbury listed Malmaison as one of its top ten assets, valued at £31m.<br/>Marcus Weeks, Director and Head of Living at Firethorn Trust, said: “Malmaison York is a high-quality asset that will perform well and create long-term value for us, whilst strengthening Firethorn’s presence in the living space.<br/>“It’s a fantastic addition to our investment portfolio and complements our wider development strategy to deliver high-quality spaces in great locations that enable people and places to thrive.<br/>“We have an appetite and ability to pursue opportunistic transactions, and look forward to continuing our growth within the living sector.”
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The congressman’s father Don, a powerful Florida politico, is worth $33 million. Most of that fortune is tied up in real estate—including the house from “The Truman Show.”<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/kylemullins/2024/06/20/the-family-of-scandal-plagued-matt-gaetz-controls-a-florida-real-estate-empire-heres-whats-inside/<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
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During a Senate Banking Committee hearing earlier this month, Sen. Tim Scott (R-SC) spoke to Consumer Financial Protection Bureau Director Rohit Chopra about the agency's enforcement of compliance over small businesses.<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com
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Amazon Reaches $2 Trillion , in Stock Market Value.<br/>On June 26, Amazon became the 5th American company to join the $2 trillion club, NPR reports. .<br/>Amazon shares ended the day up nearly 4%, giving the company a $2.01 trillion stock market valuation. .<br/>Within the past year, <br/>Amazon's stock has gained 52%.<br/>Part of that gain can be attributed <br/>to investors' enthusiasm about the <br/>company's AI endeavors, NPR reports. .<br/>A big part of the valuation boost has <br/>been cloud and AI. Amazon is going to <br/>be a major player in the AI revolution, Dan Ives, Wedbush tech analyst, via NPR.<br/>Amazon currently has a chatbot called Q, which businesses that use AWS have access to. .<br/>Amazon currently has a chatbot called Q, which businesses that use AWS have access to. .<br/>Amazon CEO Andy Jassy recently said that <br/>AI has rejuvenated the growth of AWS.<br/>The cloud computing unit is reportedly on pace to bring in $100 billion in annual revenue.<br/>Amazon recently invested in Anthropic, a California <br/>AI company, \
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