Real estate investing

Service Properties Trust Completes the Sale of an Industrial Property for $51 Million

Retrieved on: 
Monday, June 1, 2020

Service Properties Trust (Nasdaq: SVC) today announced that it has completed the sale of a 674,143 square foot property located at 555 Turnpike Street, Canton, MA for $51 million, excluding closing costs.

Key Points: 
  • Service Properties Trust (Nasdaq: SVC) today announced that it has completed the sale of a 674,143 square foot property located at 555 Turnpike Street, Canton, MA for $51 million, excluding closing costs.
  • The proceeds from the sale will be used for the repayment of debt.
  • Service Properties Trust is a real estate investment trust, or REIT, which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto Rico and Canada with 148 distinct brands across 23 industries.
  • A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.

Armada Hoffler Properties Completes $90 Million Retail Portfolio Sale

Retrieved on: 
Monday, June 1, 2020

Armada Hoffler Properties, Inc. (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust ("REIT") with four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States.

Key Points: 
  • Armada Hoffler Properties, Inc. (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust ("REIT") with four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States.
  • In addition to developing and building properties for its own account, the Company also provides development and general contracting construction services to third-party clients.
  • Founded in 1979 by Daniel A. Hoffler, the Company has elected to be taxed as a REIT for U.S. federal income tax purposes.
  • For more information, visit ArmadaHoffler.com.

Essex Property Trust Publishes Updated Investor Presentation

Retrieved on: 
Friday, May 29, 2020

Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets.

Key Points: 
  • Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets.
  • Essex currently has ownership interests in 250 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.
  • Additional information about the Company can be found on the Companys website at www.essex.com .
  • View source version on businesswire.com: https://www.businesswire.com/news/home/20200529005601/en/

Slate Office REIT Provides May COVID-19 Update

Retrieved on: 
Thursday, May 28, 2020

Slate Office REIT (TSX: SOT.UN) (the "REIT") today provided an update regarding the impact of COVID-19 on its business.

Key Points: 
  • Slate Office REIT (TSX: SOT.UN) (the "REIT") today provided an update regarding the impact of COVID-19 on its business.
  • We continue to be pleased with the resilience of our portfolio as we navigate the impacts of COVID-19 and prepare for the responsible re-entry and gradual increase in economic activity, said Scott Antoniak, Chief Executive Officer of Slate Office REIT.
  • Slate Office REITs strong rent collections have continued, with the REIT substantially collecting May rents in cash, a testament to the quality of our assets, creditworthiness of our tenants and strength of our team.
  • About Slate Office REIT (TSX: SOT.UN)
    Slate Office REIT is an open-ended real estate investment trust.

Vacant Zombie Property Rate In U.S. Holds Steady Amid Foreclosure Moratorium

Retrieved on: 
Thursday, May 28, 2020

The percentage of zombie foreclosure properties is down slightly from 3.1 percent in the first quarter of 2020.

Key Points: 
  • The percentage of zombie foreclosure properties is down slightly from 3.1 percent in the first quarter of 2020.
  • The 7,652 zombie properties represent just one of every 13,000 homes in the nation's stock of 99.2 million residential properties.
  • The second-quarter 2020 foreclosure and zombie property numbers have dropped since the first quarter amid a federal prohibition against lenders foreclosing on government-backed mortgages until at least June 30, 2020.
  • Among zip codes with at least 100 properties in foreclosure, those where the zombie foreclosure rate exceeds 5 percent remain concentrated in New York, Florida, Ohio and Illinois.

Office Properties Income Trust Announces Annual Meeting Results and Officer Promotion

Retrieved on: 
Wednesday, May 27, 2020

Since joining RMR LLC in 2011, Mr. Bilotto also worked as Senior Area Director of RMR LLCs West Region.

Key Points: 
  • Since joining RMR LLC in 2011, Mr. Bilotto also worked as Senior Area Director of RMR LLCs West Region.
  • Office Properties Income Trust is a REIT focused on owning, operating and leasing properties primarily leased to single tenants and those with high credit quality characteristics such as government entities.
  • A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
  • No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

LTC Senior Management to Participate in the NAREIT REITWeek 2020 Conference

Retrieved on: 
Wednesday, May 27, 2020

LTC Properties Inc. (NYSE: LTC), a real estate investment trust that invests in seniors housing and health care properties, today announced that senior management will participate in the NAREIT REITWeek 2020 Investor Conference on Tuesday, June 2 and Wednesday June 3, 2020.

Key Points: 
  • LTC Properties Inc. (NYSE: LTC), a real estate investment trust that invests in seniors housing and health care properties, today announced that senior management will participate in the NAREIT REITWeek 2020 Investor Conference on Tuesday, June 2 and Wednesday June 3, 2020.
  • LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending.
  • All statements other than historical facts contained in this press release are forward looking statements.
  • The actual results achieved by the Company may differ materially from any forward looking statements due to the risks and uncertainties of such statements.

MONMOUTH REAL ESTATE TO PARTICIPATE IN NAREIT’S REITWEEK: 2020 VIRTUAL INVESTOR CONFERENCE

Retrieved on: 
Wednesday, May 27, 2020

Holmdel, NJ, May 27, 2020 (GLOBE NEWSWIRE) -- Monmouth Real Estate Investment Corporation (NYSE:MNR) today announced that Michael P. Landy, President and Chief Executive Officer, Kevin Miller, Chief Financial Officer, and Becky Coleridge, Vice President of Investor Relations, are scheduled to participate in Nareits REITweek: 2020 Virtual Investor Conference.

Key Points: 
  • Holmdel, NJ, May 27, 2020 (GLOBE NEWSWIRE) -- Monmouth Real Estate Investment Corporation (NYSE:MNR) today announced that Michael P. Landy, President and Chief Executive Officer, Kevin Miller, Chief Financial Officer, and Becky Coleridge, Vice President of Investor Relations, are scheduled to participate in Nareits REITweek: 2020 Virtual Investor Conference.
  • Monmouth is scheduled to present on Wednesday, June 3, 2020, at 11:20 a.m. Eastern Time.
  • Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world.
  • Monmouth Real Estate is a fully integrated and self-managed real estate company, whose property portfolio consists of 118 properties containing a total of approximately 23.4 million rentable square feet, geographically diversified across 31 states.

Speedwagon Properties Changes Name to Speedwagon Capital Partners

Retrieved on: 
Wednesday, May 27, 2020

Speedwagon Properties, a Chicago-based private real estate investment firm, announced today that it has changed its name to Speedwagon Capital Partners.

Key Points: 
  • Speedwagon Properties, a Chicago-based private real estate investment firm, announced today that it has changed its name to Speedwagon Capital Partners.
  • Speedwagon Capital Partners focuses on capitalizing on the rapidly evolving nature of real estate by providing bespoke, asset-based capital solutions in unique, inefficient, and dislocated opportunities in real estate and real estate-related assets.
  • For more information on Speedwagon Capital Partners, visit www.speedwagoncapital.com .
  • Since 2007, Speedwagon Capital Partners (and its predecessor, Speedwagon Properties) has raised and managed real estate investments across six funds.

InterRent REIT Announces $200 Million Equity Offering

Retrieved on: 
Tuesday, May 26, 2020

After giving effect to the Offering, and prior to any future acquisitions, InterRents debt to GBV ratio will be approximately 26.8%.

Key Points: 
  • After giving effect to the Offering, and prior to any future acquisitions, InterRents debt to GBV ratio will be approximately 26.8%.
  • This equity offering further strengthens our balance sheet and increases liquidity.
  • Through that difficult period and in the ensuing years, we grew the REIT, improved the portfolio and created significant value for unitholders.
  • InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.