Operating lease

CAPREIT Expands Presence in Ontario MHC Business and Completes Early Buyout of One Operating Lease

Retrieved on: 
Jeudi, octobre 8, 2020
Business law, Leasing, Articles, Economy, Contract law, Law, Operating lease, Lease

The purchase price for the operating lease buyout is approximately $7.8 million, funded by cash.

Key Points: 
  • The purchase price for the operating lease buyout is approximately $7.8 million, funded by cash.
  • To date CAPREIT has successfully converted twelve of its fifteen operating lease properties to traditional fee simple ownership interests, with only three remaining properties under operating leases.
  • The early buyout of this operating lease further increases our financial capacity, provides meaningful NAV accretion, simplifies our balance sheet, and adds to the potential for future accretive development opportunities, commented Mark Kenney, President and CEO.
  • CAPREIT paid $9.0 million for the three properties, funded by cash and the assumption of approximately $4.0 million in existing mortgages.

Kingfisher selects MRI Software's lease accounting solution for effective IFRS 16 reporting

Retrieved on: 
Jeudi, septembre 3, 2020
Leasing, Finance, Money, Economy, IFRS 16, International Financial Reporting Standards, IFRS 1, Accounting standard, Business law, Operating lease, Finance lease

With the digital transformation project under way, then came the requirement to transition to the new IFRS 16 accounting standards and recognise lease commitments on the company balance sheet.

Key Points: 
  • With the digital transformation project under way, then came the requirement to transition to the new IFRS 16 accounting standards and recognise lease commitments on the company balance sheet.
  • With IFRS 16 representing a long-term and significant shift in the way lease accounting happens, Kingfisher was committed to properly addressing and resourcing their new way of reporting.
  • Following a rigorous procurement process, they decided to implement MRI Horizon for its powerful IFRS 16 lease accounting functionality.
  • "The impact of IFRS 16 is massive, and the volume of leases we manage required a strategic and comprehensive approach.

Kingfisher selects MRI Software's lease accounting solution for effective IFRS 16 reporting

Retrieved on: 
Jeudi, septembre 3, 2020
Leasing, Finance, Money, Economy, IFRS 16, International Financial Reporting Standards, IFRS 1, Accounting standard, Business law, Operating lease, Finance lease

With the digital transformation project under way, then came the requirement to transition to the new IFRS 16 accounting standards and recognise lease commitments on the company balance sheet.

Key Points: 
  • With the digital transformation project under way, then came the requirement to transition to the new IFRS 16 accounting standards and recognise lease commitments on the company balance sheet.
  • With IFRS 16 representing a long-term and significant shift in the way lease accounting happens, Kingfisher was committed to properly addressing and resourcing their new way of reporting.
  • Following a rigorous procurement process, they decided to implement MRI Horizon for its powerful IFRS 16 lease accounting functionality.
  • "The impact of IFRS 16 is massive, and the volume of leases we manage required a strategic and comprehensive approach.

Fiserv Enables Financial Institutions to Take Lease Accounting from a Spreadsheet to the Balance Sheet

Retrieved on: 
Mercredi, août 19, 2020
Finance, Accounting, Professional services, Technology, Software, Accounting, Finance, Economy, Leasing, Business law, Operating lease, Financial Accounting Standards Board, Balance sheet, United States Generally Accepted Accounting Principles, Liability, Balance, Accounting for leases in the United States, LeaseQuery, Fiserv

This collaboration will provide users of Prologue Financials accounting software from Fiserv with access to purpose-built lease accounting software from LeaseQuery.

Key Points: 
  • This collaboration will provide users of Prologue Financials accounting software from Fiserv with access to purpose-built lease accounting software from LeaseQuery.
  • This changed when the Financial Accounting Standards Board (FASB) issued ASC 842, a new standard for lease accounting that requires financial institutions to recognize operating leases for retail branches and office space upon commencement of the lease.
  • As a result, financial institutions could see a 60% to 70% average increase in lease liabilities on their balance sheet, according to the recent Lease Liabilities Index Report from LeaseQuery.
  • Prologue Financials from Fiserv enables financial institutions to increase the efficiency of financial accounting processes with built-in automation and controls.

CAPREIT Completes Buyout of Eight Properties Under Operating Leases

Retrieved on: 
Mardi, juin 30, 2020
Business law, Economy, Finance, Money, Corporate finance, Leasing, Landlord–tenant law, Operating lease, Buyout, Lease

TORONTO, June 30, 2020 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) (TSX:CAR.UN) announced today that it has completed the previously-announced buyout of eight operating leases for properties in Toronto.

Key Points: 
  • TORONTO, June 30, 2020 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) (TSX:CAR.UN) announced today that it has completed the previously-announced buyout of eight operating leases for properties in Toronto.
  • The operating lease buyouts were financed, in part, by a draw on CAPREITs Acquisition and Operating Facility.
  • CAPREIT previously closed the early buyout of three other operating leases in Toronto for approximately $31 million, and has now successfully converted eleven of its fifteen operating lease properties to fee simple ownership.
  • CAPREIT will continue to evaluate prepaying the buyouts on its remaining four operating leases which have contractual buyout periods commencing between 2024 and 2028.

Visual Lease Introduces Enhanced Lease Accounting Reporting Capabilities for Global & National Businesses

Retrieved on: 
Jeudi, juin 25, 2020
Commercial Building & Real Estate, Technology, Construction & Property, Finance, Banking, Accounting, Professional services, Software, Data management, Residential Building & Real Estate, Leasing, Economy, Business law, Articles, Lease administration, Contract law, Lease, Accounting for leases in the United States, Operating lease

Visual Lease, the leader in lease accounting and management software, today announced its latest product release, 20.2, providing expanded lease accounting and reporting capabilities for global and national companies required to comply with GASB 87 and FASB 842.

Key Points: 
  • Visual Lease, the leader in lease accounting and management software, today announced its latest product release, 20.2, providing expanded lease accounting and reporting capabilities for global and national companies required to comply with GASB 87 and FASB 842.
  • The new product release focuses on expanding Visual Leases lease accounting, reporting and currency conversion functionality.
  • Visual Lease remains committed to continually developing new features that simplify the lease accounting process, said Clark Convery, COO of Visual Lease.
  • To learn more about Visual Leases lease accounting capabilities, please visit https://visuallease.com/solutions/
    Visual Lease provides lease accounting and lease administration software solutions to help companies manage, analyze and report on their leased asset portfolios, including real estate, equipment and more.

UPDATE – CAPREIT Advances Toronto Operating Lease Buyout Strategy

Retrieved on: 
Vendredi, juin 5, 2020
Economy, Business law, Finance, Money, Leasing, Corporate finance, Landlord–tenant law, Buyout, Stock market, Davisville, Operating lease, Lease

The address 33 Davisville Avenue has been added to the first paragraph, along with additional information regarding the purchase price of the operating lease buyout.

Key Points: 
  • The address 33 Davisville Avenue has been added to the first paragraph, along with additional information regarding the purchase price of the operating lease buyout.
  • CAPREIT previously closed the early buyout of three of its operating leases in Toronto located at 20 Shallmar Avenue, 124 Broadway Avenue and 111 Davisville Avenue for approximately $31 million.
  • When completed, CAPREIT will have successfully converted eleven of its fifteen operating lease properties to traditional fee simple ownership interests.
  • The operating lease buyouts are expected to be financed by a draw on CAPREITs Acquisition and Operating Facility.

CAPREIT Advances Toronto Operating Lease Buyout Strategy

Retrieved on: 
Mercredi, juin 3, 2020
Economy, Business law, Finance, Money, Corporate finance, Leasing, Buyout, Stock market, Operating lease, Lease

TORONTO, June 03, 2020 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) (TSX:CAR.UN) announced today that it has agreed to prepay the buyout of eight operating leases (8 Lease Buyouts) for eight properties in Toronto, which are expected to close by June 30, 2020.

Key Points: 
  • TORONTO, June 03, 2020 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) (TSX:CAR.UN) announced today that it has agreed to prepay the buyout of eight operating leases (8 Lease Buyouts) for eight properties in Toronto, which are expected to close by June 30, 2020.
  • CAPREIT previously closed the early buyout of three of its operating leases in Toronto located at 20 Shallmar Avenue, 124 Broadway Avenue and 111 Davisville Avenue (together with the 8 Lease Buyouts, the Operating Lease Buyouts).
  • When completed, CAPREIT will have successfully converted eleven of its fifteen operating lease properties to traditional fee simple ownership interests.
  • The Operating Lease Buyouts are expected to be financed by a draw on CAPREITs Acquisition and Operating Facility.

3-Day Operating Lease & Aviation Finance Seminar, 2020 (Fort Lauderdale, United States - March 24-26, 2020)

Retrieved on: 
Mardi, janvier 28, 2020
Business law, Economy, Leasing, Law, Articles, Contract law, Landlord–tenant law, Property law, Operating lease, Lease, Lessor, Finance lease

DUBLIN, Jan. 28, 2020 /PRNewswire/ -- The "Operating Lease & Aviation Finance Seminar 2020" conference has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • DUBLIN, Jan. 28, 2020 /PRNewswire/ -- The "Operating Lease & Aviation Finance Seminar 2020" conference has been added to ResearchAndMarkets.com's offering.
  • This well-established seminar covers all aspects of operating leasing from the perspective of the lessor and the lessee and covers How to Structure, Administer & Finance an Operating Lease.
  • It will cover the fundamentals and explore issues associated with aviation leasing with ample opportunity to share experiences and to network.
  • It is ideal for new starters to the industry or anyone that has moved to a different aviation sector.

H2O Innovation’s 2020 First Quarter Results: Growth Fueled by Acquisition and Specialty Products

Retrieved on: 
Mercredi, novembre 13, 2019
Leasing, Economy, International Financial Reporting Standards, Articles, Financial regulation, Business law, IFRS 16, Operating lease

The net loss amounted to ($1.0 M) or ($0.019) per share for the first quarter of fiscal year 2020 compared to a net loss of ($0.3 M) or ($0.008) per share for the comparable quarter of fiscal year 2019.

Key Points: 
  • The net loss amounted to ($1.0 M) or ($0.019) per share for the first quarter of fiscal year 2020 compared to a net loss of ($0.3 M) or ($0.008) per share for the comparable quarter of fiscal year 2019.
  • The adoption of IFRS 16 Leases resulted in a decrease of the COGS expenses of $0.1 M for the first quarter of fiscal year 2020.
  • The adoption of IFRS 16 Leases resulted in a decrease of the SG&A expenses of $0.2M for the first quarter of fiscal year 2020.
  • Furthermore, the adoption on July 1, 2019 of IFRS16-Leases contributed to reduce by $0.3M the operating lease expenses for the quarter.