Oct 2, 2025
First Brands, a U.S. auto-parts maker, filed for Chapter 11 bankruptcy with at least $10 billion in liabilities and up to $10 billion in assets. The company secured $1.1 billion in financing to keep operating while restructuring. A $2 billion revenue-linked factoring deal is under scrutiny for contributing to its financial troubles, though the reorganization is not expected to disrupt global operations or supply chains.
Sep 8, 2025
Blackstone Real Estate Group has purchased the Sunseeker Resort in Port Charlotte from Allegiant Travel Co. for $200 million, far below its $600M+ construction cost. The resort has been renamed Sunseeker Resort Florida Gulf Coast, Curio Collection by Hilton, aligning with Hilton’s global brand. The rebrand drops “Charlotte Harbor” to broaden its market reach and position the property as a premier Gulf Coast destination.
Aug 6, 2025
Starting August 1, 2025, Florida now offers a permanent sales tax exemption on items like batteries, bike helmets, sunscreen, generators, and life jackets. These were previously only tax-free during disaster-prep holidays. The change aims to boost year-round access to safety and emergency supplies, saving consumers over $160 million annually.
Jul 15, 2025
Collier County commissioners have approved the 24‑acre “NC Square” mixed‑use development at the southwest corner of Immokalee Road and Catawba Street, reshaping the site into housing, commercial space, and a daycare facility. Residents, particularly those in nearby Valencia Trails, raised concerns over increased traffic and density, urging the county to maintain a more conservative development plan. In response, developers scaled back the project: reducing commercial space by nearly 8,000 sq ft, removing the daycare, and replacing 129 for‑sale homes with 205 rental units—30% of which are income-restricted—with officials noting this change could reduce daily vehicle trips by as many as 3,000. Commissioners acknowledged the need for workforce housing while emphasizing the importance of addressing traffic challenges along the already congested Immokalee Road.
Mar 26, 2025
The One Lincoln St. office tower in Boston was sold for $400 million at a foreclosure auction, a sharp decline from its $1 billion valuation in 2022. The building’s previous owner, Fortis Property Group, struggled with high vacancy rates after losing State Street Corp. as a tenant. Despite attempts to lease space, including a deal with HarbourVest Partners, the tower remains less than half leased. This sale reflects a broader trend of declining office building values nationwide, as vacancy rates rise due to shifts in work patterns post-pandemic. The new owners, BDT Capital Partners and DivcoWest, plan to capitalize on recent renovations aimed at attracting tenants.
