Latest news with #MeyerOrbach
Globe and Mail
12-08-2025
- Business
- Globe and Mail
Public market insider buying at GO Residential REIT (GO)
Meyer Orbach, a Director, acquired 100,000 Trust Units on a direct ownership basis at prices ranging from US$12.760 to US$12.974 between August 5th, 2025 and August 7th, 2025. This represents a $1,772,372 investment into the company's shares and an account share holdings change of greater than 100%. Let the insiders guide you to opportunity at
Cision Canada
11-08-2025
- Business
- Cision Canada
GO RESIDENTIAL REAL ESTATE INVESTMENT TRUST ANNOUNCES INSIDER PURCHASES OF UNITS
TORONTO, Aug. 11, 2025 /CNW/ - GO Residential Real Estate Investment Trust (the " REIT") (TSX: GO.U) announces that Meyer Orbach, Chair of the REIT's Board of Trustees, and Joshua Gotlib, Chief Executive Officer and Chief Investment Officer of the REIT, have recently made open market purchases of the trust units of the REIT (the " Units"). Meyer Orbach has acquired, directly or indirectly, a total of 100,000 Units on the open market on the following dates: August 5, 2025: 23,027 Units at an average price per Unit of US$12.93; August 6, 2025: 39,064 Units at an average price per Unit of US$12.9742; and August 7, 2025: 37,909 Units at an average price per Unit of US$12.76. Joshua Gotlib has acquired, directly or indirectly, 10,000 Units on the open market on August 6, 2025 at an average price per Unit of US$12.9977. SOURCE GO Residential Real Estate Investment Trust
Globe and Mail
25-07-2025
- Business
- Globe and Mail
American luxury rental apartment owner GO Residential pulls off $560-million IPO in Canada
GO Residential Real Estate Investment Trust, a luxury rental apartment owner in New York City, pulled off its US$410-million initial public offering on the Toronto Stock Exchange, pricing its units at US$15 apiece. After converting to Canadian dollars, GO Residential is raising $560-million, making it one of the largest-ever real-estate IPOs in Canada. GO owns five rental towers in Manhattan along the East River, including the Copper Buildings, where the average monthly rent is US$8.05 per square foot. That amounts to US$8,050 per month for a 1,000-square-foot apartment. The company was co-founded by Joshua Gotlib and Meyer Orbach, who both have bought, managed and sold commercial properties in the NYC area. To help win over investors, the company lined up a cornerstone backer, Cohen & Steers Capital Management Inc., which will purchase US$90-million of additional shares, bringing the total size of the offering to US$500-million. Opinion: The IPO market is dead. Is a resurrection possible? Undervalued and ignored: Why young Canadian firms are looking to foreign investors and buyers GO launched the IPO in a tricky market for commercial real-estate companies, and the company has used a heavy amount of leverage to help fund its real-estate purchases. However, the REIT was still able to pull the deal off, and will use some proceeds to pay down debt. IPOs have been rare in Canada since the COVID-19 pandemic boom, and they are particularly rare for real-estate companies considering many REITs are trading far below their net asset values. In marketing documents for the IPO, the company said it raised money in Canada because of the country's 'established and supportive midcap REIT market.' (REITs return most of the cash they earn to their unit holders through distributions.) GO will pay a 4.26-per-cent annual yield. While GO is run by Americans, the REIT has brought Canadians into its management team and onto its board of trustees. The company's chief financial officer, Peter Sweeney, used to hold the same position at SmartCentres REIT and Lori-Ann Beausoleil, a retired partner from PricewaterhouseCoopers LLP who currently sits on several REIT boards, will join GO's board. CIBC World Markets and BMO Nesbitt Burns served as lead underwriters for the IPO.
USA Today
18-02-2025
- Business
- USA Today
Report: Floyd Mayweather putting 'huge offer' together for Giants minority stake
Last week, the New York Giants announced they would explore a sale of a minority stake in the team. Since then, rumors have spread about potential suitors and former players who might want a piece of the pie. The latest duo to express interest in the team is Floyd Mayweather and real estate mogul Meyer Orbach. From TMZ Sports: Floyd Mayweather wants to own the NY Giants … and we're told the 50-0 boxing legend is leading a group gunning to buy a 10% stake in the 4x Super Bowl-winning franchise! TMZ Sports has learned that 47-year-old Mayweather and his business partner, prominent real estate magnate, Meyer Orbach, are putting together an offer. There will likely be another wealthy investor added to the team, per what we are being told from our sources. We're told the offer will be in the neighborhood of $700 million … and the plan is to submit the proposal soon. We're told TBE has already moved $200 million into an escrow account. 'My partners and I are always looking at different opportunities, including ownership of sports teams. I can't comment further than that,' Orbach told TMZ. Orbach already owns a minority stake in the Minnesota Timberwolves and Floyd Mayweather has had his hands in various businesses for years. They want to purchase a 10 percent stake in the Giants and plan to offer $700 million, but that likely won't be enough. No formal valuation of the Giants has been done, so it's hard to determine what amount equals 10 percent of the organization, but a $700 million offer means this particular view values the team at $7 billion. In a handful of valuations done in the last year, the Giants are estimated to be worth anywhere from $6.8 to $7.65 billion. There will likely be even more suitors lining up to place an offer for a minority stake in the Giants, but without a formal valuation, the money they will need to purchase that stake remains muddy. But it's likely that more than $700 million will be needed.
