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
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Lead by real estate veteran Robert Khodadadian, Skyline Properties 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.