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This is the most valuable car in the world

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This is the most valuable car in the world

A unicorn within the collector automotive world simply went underneath the hammer, and bought for a record-breaking, astounding quantity.

Mercedes-Benz Group (MBG.DE) introduced it is bought a 1955 Mercedes-Benz 300 SLR “Uhlenhaut Coupé” from its assortment for $143 million (135 million euros) in a personal public sale. The earlier file for a automotive bought at public sale was $70 million, for a 1962 Ferrari (RACE) 250 GTO in 2018.

Generally known as the “Mona Lisa” of vehicles, the Mercedes sports activities automotive was designed for the street by Daimler-Benz motorsport chief Rudolf Uhlenhaut and primarily based on the W196 Grand Prix single seater race automotive. Solely 2 of the SLR Coupés have been ever constructed, and none have been meant to be bought by Mercedes.

Ola Källenius, Chairman of the Board of Administration of Mercedes-Benz Group AG, and Renata Jungo Brüngger, Member of the Board of Administration of Mercedes-Benz Group AG with the Mercedes-Benz 300 SLR Uhlenhaut Coupe.

Collector-car professional Simon Kidston claims to have lobbied Mercedes to promote one of many fashions at a personal public sale, which Mercedes agreed to do with all proceeds going to the Mercedes-Benz Fund, a world scholarship program arrange by the automaker. Kidston put within the successful bid of $143 million for a personal consumer.

“Should you had requested traditional automotive consultants and prime collectors over the previous half a century to call essentially the most fascinating automotive on the planet, there is a good probability that they’d have give you the identical mannequin: the Mercedes-Benz 300 SLR,” Kidston stated in an announcement. “It is a mixture of unique engineering, all-conquering racing historical past, the ability of the three-pointed star on its nostril and the truth that one had by no means, ever been bought.”

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The picture shows one of the two 300 SLR Uhlenhaut Coupe's together with the inventor Rudolph Uhlenhaut. This vehicle is on display in the Mercedes-Benz Museum.

One of many two 300 SLR Uhlenhaut Coupe’s along with the inventor Rudolph Uhlenhaut.

“The choice to promote certainly one of these two distinctive sports activities vehicles was taken with very sound reasoning – to learn an excellent trigger,” Mercedes Chairman Ola Källenius stated. “On the identical time, reaching the best worth ever paid for a automobile is extraordinary and humbling: A Mercedes-Benz is by far essentially the most worthwhile automotive on the planet.”

Certainly, with the 300 SLR now the file holder for costliest automotive purchased at public sale, the brand new prime 5 rounds out with all Ferraris — the aforementioned 1962 250 GTO, adopted by one other 1962 Ferrari 250 GTO by Scaglietti ($48.4 million), yet one more 1962 Ferrari 250 GTO Berlinetta ($38.1 million), and a 1957 Ferrari 335 Sport Scaglietti ($35.7 million).

Although collectors extremely covet Ferrari race vehicles just like the 250 GTOs, it isn’t shocking how a lot the 300 SLR went for given it’s distinctive heritage and intensely restricted amount.

“The once-in-a-lifetime alternative to accumulate this piece of Mercedes-Benz historical past can’t be missed. Its beautiful form, revolutionary interval options, and fearsome efficiency will likely be sufficient for many to understand this automotive as an all-time legend of automotive design—and its unbelievable historical past solely provides to its attraction,” public sale home RM Sotheby’s stated within the public sale itemizing for the automotive. “No different 300 SLR exists in non-public palms and the prospect to accumulate such a automotive, direct from years of firm possession, will certainly by no means be repeated.”

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With this summer season’s huge auctions lined up across the Pebble Seaside Concours d’ Magnificence this 12 months in August, traditional automotive collectors and trade watchers will likely be anxious to see if extra Mercedes fashions get bid up versus their Ferrari rivals given the 300 SLR’s record-breaking bid. Public sale homes RM Sotheby’s, Gooding & Co., and Bonhams all are that includes uncommon Mercedes-Benz fashions on the market, with possible many extra added to their Monterey Automobile Week public sale catalogs within the weeks forward.

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Pras Subramanian is a senior autos reporter for Yahoo Finance. You may observe him on Twitter and on Instagram.

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Seven Hills Realty Trust Closes $45.0 Million Bridge Loan to Finance the Acquisition of a Hotel in Boston, Massachusetts

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Seven Hills Realty Trust Closes .0 Million Bridge Loan to Finance the Acquisition of a Hotel in Boston, Massachusetts

NEWTON, Mass., December 17, 2024–(BUSINESS WIRE)–Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $45.0 million first mortgage floating rate bridge loan to finance the acquisition of Club Quarters Hotel, a 178-room hotel located at 161 Devonshire Street in Boston, Massachusetts.

The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements. SEVN’s manager, Tremont Realty Capital, was introduced to the transaction by JLL, which advised Arch & Devonshire LLC, the borrower.

Tom Lorenzini, President and Chief Investment Officer of SEVN, made the following statement:

“The Club Quarters Hotel benefits from being near the Massachusetts State House, Faneuil Hall, Boston Common, the Boston Theatre District and many significant historical sites. The closing of the loan to finance the acquisition of this hotel demonstrates our ability to identify and execute compelling loan investment opportunities. Furthermore, we continue to be active in the market and maintain a strong pipeline of quality loan opportunities to generate attractive risk adjusted returns for our shareholders.”

About Seven Hills Realty Trust

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Seven Hills Realty Trust (Nasdaq: SEVN) is a real estate finance company focused on originating and investing in first mortgage loans secured by middle market transitional commercial real estate. SEVN is managed by Tremont Realty Capital, an affiliate of The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with nearly $41 billion in assets under management and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. For more information about SEVN, please visit www.sevnreit.com.

WARNING CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These statements may include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “will,” “may” and negatives or derivatives of these or similar expressions. These forward-looking statements include, among others, statements about SEVN continuing to be active in the market and maintaining a strong pipeline of quality loan opportunities and SEVN’s investment focus, ability to complete additional loan investments in the future and ability to generate attractive risk adjusted returns for shareholders. Forward-looking statements reflect SEVN’s current expectations, are based on judgments and assumptions, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause SEVN’s actual results, performance or achievements to differ materially from expected future results, performance or achievements expressed or implied in those forward-looking statements. Some of the risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, the following: the ability of SEVN to make additional investments; the success of SEVN’s investments; SEVN’s available liquidity, access to capital and cost of capital; and various other matters. These risks, uncertainties and other factors are not exhaustive and should be read in conjunction with other cautionary statements that are included in SEVN’s periodic filings with the Securities and Exchange Commission, or SEC. The information contained in SEVN’s filings with the SEC, including under the caption “Risk Factors” in its periodic reports, or incorporated therein, identifies important factors that could cause SEVN’s actual results to differ materially from those stated in or implied by SEVN’s forward-looking statements. SEVN’s filings with the SEC are available on the SEC’s website at www.sec.gov. You should not place undue reliance upon forward-looking statements. Except as required by law, SEVN does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.

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Open Lending Secures Major Auto Finance Partnership, Expands Lenders Protection™ Program

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Open Lending Secures Major Auto Finance Partnership, Expands Lenders Protection™ Program




Open Lending (LPRO) has secured its third partnership with an automotive captive finance company, marking a significant expansion of its Lenders Protection™ program. The agreement will enable the unnamed OEM partner to extend lending services to near- and non-prime consumers through automated decisioning and default insurance coverage.

The implementation is scheduled for early 2025, with testing nearly complete. The partnership aims to help the captive finance company expand its business by responsibly lending to consumers with lower credit scores than their traditional borrowers. Open Lending’s solution will integrate into the lender’s processes, from initial application scoring to loan structuring and servicing, using alternative data to price loans based on applicants’ financial profiles and vehicle valuations.

Open Lending (LPRO) ha consolidato la sua terza partnership con un’azienda finanziaria automobilistica, segnando un’espansione significativa del suo programma Lenders Protection™. L’accordo permetterà al partner OEM non ancora nominato di estendere i servizi di prestito a consumatori near- e non prime attraverso decisioni automatizzate e copertura assicurativa contro i default.

L’implementazione è prevista per inizio 2025, con i test quasi completati. La partnership mira ad aiutare l’azienda finanziaria a espandere la propria attività prestando responsabilmente a consumatori con punteggi di credito inferiori rispetto ai tradizionali prestatari. La soluzione di Open Lending si integrerà nei processi del prestatore, dalla valutazione iniziale della domanda alla strutturazione e gestione dei prestiti, utilizzando dati alternativi per valutare i prestiti in base ai profili finanziari dei richiedenti e alle valutazioni dei veicoli.

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Open Lending (LPRO) ha asegurado su tercera asociación con una empresa de financiación cautiva automotriz, marcando una expansión significativa de su programa Lenders Protection™. El acuerdo permitirá al socio OEM no nombrado extender los servicios de préstamo a consumidores near- y non-prime a través de decisiones automatizadas y cobertura de seguro contra impagos.

La implementación está programada para principios de 2025, con las pruebas casi completas. La asociación tiene como objetivo ayudar a la empresa de financiación cautiva a expandir su negocio prestando responsablemente a consumidores con puntuaciones de crédito más bajas que sus prestatarios tradicionales. La solución de Open Lending se integrará en los procesos del prestamista, desde la evaluación inicial de la solicitud hasta la estructuración y el servicio del préstamo, utilizando datos alternativos para fijar tasas basadas en los perfiles financieros de los solicitantes y las valoraciones de los vehículos.

Open Lending (LPRO)는 Automotive captive finance 회사와 세 번째 파트너십을 체결하여 Lenders Protection™ 프로그램을 크게 확장했습니다. 이번 계약을 통해 이름이 밝혀지지 않은 OEM 파트너는 자동화된 의사 결정과 디폴트 보험 보장을 통해 네어 프라임 및 비프라임 소비자에게 대출 서비스를 제공할 수 있게 됩니다.

구현은 2025년 초로 예정되어 있으며, 테스트는 거의 완료되었습니다. 이번 파트너십은 금융 회사가 전통적인 차주보다 낮은 신용 점수를 가진 소비자에게 책임감 있게 대출을 확대하는 데 도움을 주기 위한 것입니다. Open Lending의 솔루션은 초기 신청 평가부터 대출 구조화 및 서비스에 이르기까지 대출자의 프로세스에 통합되어 신청자의 재무 프로필 및 차량 평가를 기반으로 대출 가격을 설정하기 위해 대체 데이터를 사용할 것입니다.

Open Lending (LPRO) a sécurisé son troisième partenariat avec une entreprise de financement captive automobile, marquant une expansion significative de son programme Lenders Protection™. Cet accord permettra au partenaire OEM non nommé d’étendre les services de prêt aux consommateurs near- et non-prime grâce à une décision automatisée et une couverture d’assurance contre les défauts de paiement.

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L’implémentation est prévue pour début 2025, les tests étant presque terminés. Ce partenariat vise à aider l’entreprise de financement captive à développer son activité en prêtant de manière responsable à des consommateurs avec des scores de crédit inférieurs à ceux de ses emprunteurs traditionnels. La solution d’Open Lending sera intégrée dans les processus du prêteur, depuis l’évaluation initiale des demandes jusqu’à la structuration et le service des prêts, en utilisant des données alternatives pour fixer les taux des prêts en fonction des profils financiers des demandeurs et des évaluations des véhicules.

Open Lending (LPRO) hat seine dritte Partnerschaft mit einem Automobilfinanzierungsunternehmen gesichert, was eine bedeutende Erweiterung seines Lenders Protection™ Programms darstellt. Die Vereinbarung ermöglicht es dem nicht genannten OEM-Partner, Kreditdienstleistungen an Near- und Non-Prime-Verbraucher durch automatisierte Entscheidungsfindung und Ausfallversicherungsdeckung anzubieten.

Die Implementierung ist für Anfang 2025 geplant, die Tests sind nahezu abgeschlossen. Die Partnerschaft zielt darauf ab, dem Finanzierungsunternehmen zu helfen, sein Geschäft zu erweitern, indem es verantwortungsbewusst an Verbraucher mit niedrigeren Kreditwerten als seine traditionellen Kreditnehmer vergibt. Die Lösung von Open Lending wird in die Prozesse des Kreditgebers integriert, von der initialen Antragsbewertung bis hin zur Strukturierung und Verwaltung von Krediten, wobei alternative Daten verwendet werden, um Kredite basierend auf den finanziellen Profilen der Antragsteller und den Fahrzeugbewertungen zu berechnen.

Positive


  • Secured third OEM captive finance company partnership, expanding market presence

  • Partnership implementation set for early 2025, indicating near-term revenue potential

  • Demonstrates growing acceptance of Lenders Protection™ program in automotive lending

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Insights


The partnership with a third OEM captive finance company marks a significant strategic expansion for Open Lending. This deal opens up access to a broader customer base in the near- and non-prime auto lending market, potentially driving substantial revenue growth. The timing of the rollout in early 2025 suggests a meaningful impact on future earnings.

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The agreement demonstrates Open Lending’s growing market penetration in the automotive financing sector, particularly with captive finance companies. Their Lenders Protection™ program’s ability to facilitate lending to lower credit spectrum consumers while managing risk through default insurance coverage presents a compelling value proposition. This could translate into increased loan origination volumes and recurring revenue streams.

The auto financing market is experiencing a strategic shift as OEM captive finance companies seek to expand their lending portfolios to near- and non-prime consumers. Open Lending’s third major captive partnership validates their technology-driven approach and positions them favorably in this growing market segment. The integration of alternative data for loan structuring and risk assessment represents a competitive advantage in reaching underserved borrowers.

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This expansion aligns with industry trends showing increased focus on financial inclusion while maintaining prudent risk management. The partnership could strengthen Open Lending’s market position and create barriers to entry for competitors.

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Agreement demonstrates continued importance of near- and non-prime consumers to captive lenders and Company’s industry leadership

AUSTIN, Texas, Dec. 17, 2024 (GLOBE NEWSWIRE) —  Open Lending Corporation (Nasdaq: LPRO) (the “Company” or “Open Lending”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today announced that it entered into an agreement with the captive finance company of a premier automaker to begin utilizing Open Lending’s flagship Lenders Protection™ program. This is the Company’s third such partnership with an automotive captive finance company. This agreement will enable the Company’s newest OEM partner to access more near- and non-prime consumers with the unique benefits of Open Lending’s automated decisioning and default insurance coverage.

“We couldn’t be more excited about the addition of a third OEM captive finance company to our customer base,“ said Chuck Jehl, CEO of Open Lending. “This company desired to expand its business by responsibly lending to consumers who are deeper in the credit spectrum than most of their borrowers have historically been. As with so many of Open Lending’s customers, our Lenders Protection solution is the perfect fit. This new relationship further validates Open Lending’s value proposition to auto lenders generally. Full testing and implementation is near completion with a targeted rollout scheduled to begin in early 2025.”

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“Signing our third captive finance company is an important milestone for Open Lending,” Mr. Jehl added. “I’d like to thank our co-founder and enterprise account consultant, Ross Jessup, for all his efforts in making today’s announcement a reality.”

“Our expertise in near- and non-prime lending was a significant factor in this captive finance company’s decision to partner with Open Lending,” said Mr. Jessup. “This partnership helps lenders grow safely, strengthens dealer relationships, and ensures OEMs retain their customers within the brand.”

Open Lending’s approach to integration will assist with efficiencies within the captive finance company’s process, from initial scoring of an application, to loan structuring and pricing, and all the way through servicing. Using alternative data, Lenders Protection prices and structures automotive loans according to each applicant’s unique financial profile and vehicle valuation, enabling financial institutions to securely offer loan opportunities to near- and non-prime borrowers.

Learn more at openlending.com. 

About Open Lending  
Open Lending (NASDAQ: LPRO) provides loan analytics, risk-based pricing, risk modeling, and default insurance to auto lenders throughout the United States. For over 20 years, we have been empowering financial institutions to create profitable auto loan portfolios with less risk and more reward. For more information, please visit www.openlending.com. 

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Contact 

Open Lending Media Inquiries 
press@openlending.com  

Open Lending Investor Relations Inquiries 
InvestorRelations@openlending.com  








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FAQ



When will Open Lending (LPRO) launch its partnership with the new OEM captive finance company?


Open Lending plans to begin the rollout of its partnership with the new OEM captive finance company in early 2025.


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How many OEM captive finance company partnerships does Open Lending (LPRO) now have?


With this new agreement, Open Lending now has partnerships with three OEM captive finance companies.


What services will Open Lending (LPRO) provide to the new OEM partner?


Open Lending will provide its Lenders Protection™ program, offering automated decisioning and default insurance coverage for near- and non-prime consumer loans.

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How does Open Lending’s (LPRO) Lenders Protection program evaluate loan applications?


The program uses alternative data to price and structure automotive loans based on each applicant’s unique financial profile and vehicle valuation.





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Canada government adrift after finance minister resigns, Trump tariffs loom

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Canada government adrift after finance minister resigns, Trump tariffs loom

By David Ljunggren

OTTAWA (Reuters) – The abrupt resignation of Canada’s finance minister leaves the government adrift less a month before the inauguration of a new U.S. administration that could impose crippling sanctions on Canadian exports.

Chrystia Freeland quit on Monday after Prime Minister Justin Trudeau offered her a lesser position. She said his wish to increase spending could endanger Canada’s ability to withstand the damage done by the tariffs that U.S. President-elect Donald Trump is threatening to impose.

Freeland had headed a special cabinet committee on Canada-U.S. relations and was working closely with the 10 provinces to ensure a united response.

“As a country we have to project strength and unity, and it’s chaos right now up in Ottawa,” Ontario Premier Doug Ford said after a scheduled online conference call of provincial premiers on Monday to discuss the U.S. threat.

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An unimpressed Alberta premier, Danielle Smith, one of Trudeau’s biggest domestic critics, said the provincial leaders had only learned halfway through their call that the point person on Canada-U.S. relations had quit.

“It’s chaos. I’d be looking at this wondering who the next leader is … are they going to be able to bring forward a coherent plan? Is there going to be a team that is able to do a Team Canada approach?” she said.

“It’s not the greatest time to have a vacuum,” she added, calling for a national election to help restore stability.

Unhappy legislators from the ruling Liberal Party, some of whom have been calling on Trudeau to quit for months, met on Monday in Ottawa to vent their frustration.

The Liberals are trailing badly in the polls ahead of an election that must be held by late October 2025. Trudeau has until now ruled out the idea of resigning but if pressure on him mounts significantly, the results could be unpredictable.

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“Trump will be inaugurated in 34 days. Canada must have a stable government,” former Trudeau foreign policy advisor Roland Paris said in a post on X.

When Trump came to power in 2017 he vowed to tear up the trilateral free trade treaty with Canada and Mexico. Freeland, who was then foreign minister, played a large role in helping renegotiate the pact and saving Canada’s economy, which is heavily reliant on the United States.

Vincent Rigby, a former national security and intelligence adviser to Trudeau, said Freeland’s departure meant the Canadian stance with Trump was up in the air.

“This is going to be quite problematic for the prime minister from a political perspective, but it’s now also going to be problematic in terms of how the Canadian government deals with an incoming Trump presidency,” he said on the sidelines of an event in Washington.

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