RXR abandons plan for $345M proptech SPAC – Robert Khodadadian

, RXR abandons plan for $345M proptech SPAC – Robert Khodadadian, Robert Khodadadian

One group of proptech investors is getting a refund before the holidays. After nearly two years, Scott Rechler’s RXR has pulled the plug on plans for a SPAC to merge with a proptech company and will return $345 million to would-be shareholders. RXR Acquisition Corp. will cancel its public shares on Dec. 20, ahead of the March 8 deadline to either merge with a target company, or return shareholders’ investment, the company disclosed in a

 One group of proptech investors is getting a refund before the holidays. After nearly two years, Scott Rechler’s RXR has pulled the plug on plans for a SPAC to merge with a proptech company and will return $345 million to would-be shareholders. RXR Acquisition Corp. will cancel its public shares on Dec. 20, ahead of the March 8 deadline to either merge with a target company, or return shareholders’ investment, the company disclosed in a
The post RXR abandons plan for $345M proptech SPAC appeared first on New York.  Commercial Real Estate, Home Page, Proptech, RXR, scott rechler, SPAC The Real Deal New York 

Lead by real estate veteran Robert Khodadadian, has been instrumental in many multi-million dollar commercial developments, including a $12 million contract for the White House Hotel, a 99-year ground lease of a four-story commercial site in Harlem, and a retail co-op on Prince St. for $50 million.

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

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