Property law

AvalonBay Communities, Inc. Provides First Quarter 2021 Operating Update

Friday, March 5, 2021 - 9:15pm

Like-Term Effective Rent Change represents the percentage change in effective rent between two leases of the same lease term category for the same apartment.

Key Points: 
  • Like-Term Effective Rent Change represents the percentage change in effective rent between two leases of the same lease term category for the same apartment.
  • The Company defines effective rent as the contractual rent for an apartment less amortized concessions and discounts.
  • Suburban Communities are communities located in submarkets with less than 3,500 households per square mile.
  • Urban Communities are communities located in submarkets with 3,500 households or more per square mile.

AVROBIO Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Friday, March 5, 2021 - 12:00pm

The grants were made in accordance with Nasdaq Listing Rule 5635(c)(4).

Key Points: 
  • The grants were made in accordance with Nasdaq Listing Rule 5635(c)(4).
  • 1, 2021, with an exercise price of $11.45 per share, representing the closing price of AVROBIOs common stock as reported by Nasdaq on the grant date.
  • Vesting of the option awards is subject to continued service with AVROBIO by the employee through the applicable vesting dates.
  • AVROBIO explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.

The Georgetown Company Announces Development of 200,000 Square Foot Life Science Hub at 787 11th Avenue

Thursday, March 4, 2021 - 6:00pm

The Georgetown Company, a leading developer and owner of commercial, retail and mixed-use properties nationwide, announces the creation of a leading life science hub at 787 11th Avenue on Manhattans Far West Side.

Key Points: 
  • The Georgetown Company, a leading developer and owner of commercial, retail and mixed-use properties nationwide, announces the creation of a leading life science hub at 787 11th Avenue on Manhattans Far West Side.
  • Georgetown immediately identified life science users for potential tenancy at 787 11th Avenue beginning at its initial acquisition in 2015.
  • Its $100 million renovation of the property anticipated and incorporated many of the technological and infrastructure requirements to accommodate life science tenants.
  • In fact, the lease is larger than the total life science square footage leased across New York City in 2020.

SmartSearch U.S. Launches Business Checks in Response to New AML Legislation

Thursday, March 4, 2021 - 1:38pm

The solution will also help businesses comply with the latest AML guidance which requires regulated businesses to identify their ultimate beneficial owner.

Key Points: 
  • The solution will also help businesses comply with the latest AML guidance which requires regulated businesses to identify their ultimate beneficial owner.
  • "Under the latest updates to AML regulations as outlined in the Defense Act, businesses need to conduct more corporate customer checks than ever.
  • "At SmartSearch U.S. we are responding to that need by launching our new Instant Business Report solution.
  • The SmartSearch U.S. business verification feature will cross-check the details given with multiple data sources to ensure the most accurate pass rate.

Arconic Announces Closing of $300 Million of Additional Notes Offering

Wednesday, March 3, 2021 - 9:30pm

Arconic Corp. (NYSE: ARNC) (Arconic or the Company) announced today that it closed its offering of an additional $300 million aggregate principal amount of the Companys 6.125% Senior Secured Second-Lien Notes due 2028 (the Additional Notes).

Key Points: 
  • Arconic Corp. (NYSE: ARNC) (Arconic or the Company) announced today that it closed its offering of an additional $300 million aggregate principal amount of the Companys 6.125% Senior Secured Second-Lien Notes due 2028 (the Additional Notes).
  • The Additional Notes were sold at 106.25% of par and the Company expects net proceeds of approximately $314 million.
  • Each of the Additional Notes and the related guarantees are secured on a second-priority basis by liens on certain assets of the Company.
  • The Additional Notes were issued under the indenture governing the Company's existing 6.125% Senior Secured Second-Lien Notes due 2028 (the Existing Notes).

Acadia Realty Trust Appoints Kenneth A. McIntyre to the Board of Trustees

Wednesday, March 3, 2021 - 9:15pm

Acadia Realty Trust (NYSE: AKR) (Acadia or the Company) today announced the election by the board of trustees of the Company (the Board) of Kenneth A. McIntyre as an independent trustee, effective March 1, 2021.

Key Points: 
  • Acadia Realty Trust (NYSE: AKR) (Acadia or the Company) today announced the election by the board of trustees of the Company (the Board) of Kenneth A. McIntyre as an independent trustee, effective March 1, 2021.
  • Mr. McIntyre was also appointed to the Nominating and Corporate Governance Committee of the Board.
  • Mr. McIntyre is also a Member of the Board of Governors for the Real Estate Board of New York.
  • Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Core Portfolio and Fund operating platforms and its disciplined, location-driven investment strategy.

Iveric Bio Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Tuesday, March 2, 2021 - 1:00pm

The stock options have an exercise price of $6.49 per share, equal to the closing price of Iveric Bios common stock on March 1, 2021.

Key Points: 
  • The stock options have an exercise price of $6.49 per share, equal to the closing price of Iveric Bios common stock on March 1, 2021.
  • The vesting of each grant is subject to the employees continued service with the Company through the applicable vesting date.
  • The inducement grants are subject to the terms and conditions of award agreements covering the grants and the Companys 2019 Inducement Stock Incentive Plan.
  • Iveric Bio is a science-driven biopharmaceutical company focused on the discovery and development of novel treatment options for retinal diseases with significant unmet medical needs.

enCore Energy Corp. Announces Option Grants to Officers

Friday, February 26, 2021 - 8:45pm

Vesting will occur over a period of eighteen months, with an initial 25% of the Options vesting immediately upon grant, followed by an additional 25% of the Options every six months thereafter until fully vested.

Key Points: 
  • Vesting will occur over a period of eighteen months, with an initial 25% of the Options vesting immediately upon grant, followed by an additional 25% of the Options every six months thereafter until fully vested.
  • enCore Energy Corp. is a U.S. domestic uranium developer focused on becoming a leading in-situ recovery (ISR) uranium producer.
  • The Company is led by a team of industry experts with extensive knowledge and experience in the development and operations of in situ recovery uranium operations.
  • enCore Energys opportunities are created from the Companys transformational acquisition of its two South Texas production facilities, the changing global uranium supply/demand outlook and opportunities for industry consolidation.

Dorchester Minerals, L.P. Announces 2020 Results

Thursday, February 25, 2021 - 5:25pm

Approximately 15% of these reserves are attributable to the Partnerships Net Profits Interests and 85% are attributable to its Royalty Properties.

Key Points: 
  • Approximately 15% of these reserves are attributable to the Partnerships Net Profits Interests and 85% are attributable to its Royalty Properties.
  • Natural gas accounted for 38% of proved reserves as of December31, 2020, all of which were classified as proved developed producing.
  • The Partnership distributed a total of $44.1 million to its common unitholders from May 2020 through February2021 attributable to 2020 activity.
  • Dorchester Minerals, L.P. is a Dallas based owner of producing and non-producing crude oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests in 27 states.

DDI Technology Announces Entry into Michigan Electronic Lien and Title Market

Thursday, February 25, 2021 - 1:30pm

DDI Technology (DDI), a leading electronic vehicle title and registration technology firm and a subsidiary of IAA, Inc. (NYSE: IAA), a leading global digital marketplace connecting vehicle buyers and sellers, announces the expansion of its electronic lien and title (ELT) services and Premier eTitleLien product into the state of Michigan.

Key Points: 
  • DDI Technology (DDI), a leading electronic vehicle title and registration technology firm and a subsidiary of IAA, Inc. (NYSE: IAA), a leading global digital marketplace connecting vehicle buyers and sellers, announces the expansion of its electronic lien and title (ELT) services and Premier eTitleLien product into the state of Michigan.
  • DDI has 22 years of experience bringing its industry-leading ELT solutions to lenders across the U.S., said Troy Moore, DDI Technology Senior Director and Head of Business Development.
  • DDIs Premier eTitleLien solution streamlines lenders title and lien release management, simplifying the title process by reducing fraud and errors while allowing lenders to eliminate paper title storage, such as lien cards, and receive quicker confirmation of lien placement.
  • The platform provides electronic lien processing, including electronic filing of liens for certain refinance transactions available through the Michigan ELT program.