Brazilian real estate developer MRV&CO has sold two multifamily properties in Texas for a combined $139 million, aiming to reduce its debt burden. The transaction includes the Ten Oaks and Rayzor Ranch developments and was backed by a $12 million non-refundable deposit. The sale reduces MRV's consolidated net debt by 7.5 percent, about $87 million. The portfolio sale likely resulted in a book loss, though the exact figure was not disclosed.
Separately, actress Elisha Cuthbert has sold her West Hollywood home for $1.93 million, according to property records. The sale came just days after the home was relisted with a significant price cut. Cuthbert, known for her roles in television and film, had originally listed the property at a higher price earlier this year. The transaction highlights ongoing activity in the Los Angeles luxury housing market, where some sellers are adjusting prices to attract buyers.
Both deals reflect divergent segments of real estate: a large-scale corporate asset sale focused on debt reduction and a celebrity home sale at a discounted price. MRV&CO, one of Brazil's largest homebuilders, continues to streamline its portfolio, while Cuthbert's sale indicates a softening in parts of the high-end market.