Commercial property

MNC Capital Submits Proposal to Acquire Vista Outdoor for $35.00 Per Share in Cash

Retrieved on: 
Friday, March 1, 2024
Outdoors, Professional Services, Sports, Finance, Acquisition, FTI Consulting, Confidentiality, Vista, Sale, Transaction, Letter, Autumn, Element, Foreign investment, Proposal, Department of Defence, State, MNC, CFIUS, Kinetic Group, Commercial property

We are writing to express our strong interest in acquiring all the outstanding shares of Vista Outdoor Inc. (“Vista” or the “Company”) for a purchase price per share of $35.00 in cash (the “Transaction”).

Key Points: 
  • We are writing to express our strong interest in acquiring all the outstanding shares of Vista Outdoor Inc. (“Vista” or the “Company”) for a purchase price per share of $35.00 in cash (the “Transaction”).
  • The proposed price offers a substantial premium to Vista’s share price, which already reflects a takeover premium.
  • Given Vista’s share price is currently trading close to its 52-week high, our proposal also reflects a highly attractive value overall to Vista’s shareholders.
  • The Board is currently reviewing the proposal consistent with its fiduciary duties, in consultation with our legal and financial advisors.

Tower 16 Capital Partners Acquires The Deco at Victorian Square, Its First Multifamily Project in Reno, Nevada, for $43 Million

Retrieved on: 
Wednesday, February 28, 2024
Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, REIT, Acquisition, I-80, Tahoe Reno Industrial Center, Housing, Commercial property

San Diego-based Tower 16 Capital Partners has successfully acquired The Deco at Victorian Square, a 209-unit multifamily property located in the Reno, Nevada market.

Key Points: 
  • San Diego-based Tower 16 Capital Partners has successfully acquired The Deco at Victorian Square, a 209-unit multifamily property located in the Reno, Nevada market.
  • The project was built in 2021 and acquired for $43 million, well below today’s replacement cost.
  • “We’re pursuing opportunities in Western growth markets to acquire high-quality real estate at a steep discount to replacement cost and prior-peak pricing.
  • Tower 16 is aggressively targeting new construction assets in varying stages of completion/lease-up as well as value-add opportunities in the Southwest.

Stratus Properties Inc. Completes Sale of Approximately 47 Acres at Magnolia Place for $14.5 Million

Retrieved on: 
Tuesday, February 27, 2024
Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, REIT, Place, City, STRS, Sale, Drainage, Commercial property

Stratus Properties Inc. (NASDAQ: STRS) (“Stratus” or the “Company”) today announced that it completed the previously disclosed sale of approximately 47 acres at Magnolia Place for $14.5 million.

Key Points: 
  • Stratus Properties Inc. (NASDAQ: STRS) (“Stratus” or the “Company”) today announced that it completed the previously disclosed sale of approximately 47 acres at Magnolia Place for $14.5 million.
  • The sale generated pre-tax net cash proceeds to Stratus of approximately $5.3 million, after transaction expenses and payment of the remaining $8.8 million project loan.
  • Magnolia Place is a mixed-use project in Magnolia, Texas, shadow-anchored by a 95,000-square-foot H-E-B grocery store on an adjoining 18-acre site owned by H-E-B.
  • Previously at Magnolia Place, Stratus sold two pad sites and 28 acres planned for single-family residences for a total of $6.6 million, which together with the recent sale totals $21.1 million in sales at Magnolia Place.

AdaptHealth Corp. Announces Fourth Quarter and Full-Year 2023 Results and Provides Initial 2024 Outlook

Retrieved on: 
Tuesday, February 27, 2024
Medical Devices, Medical Supplies, Hospitals, Health Technology, Biotechnology, Other Health, Managed Care, Health, General Health, Interest, Interim, Adjustment, Sleep, Patient, Medicare, Commercial property

AdaptHealth Corp. (NASDAQ: AHCO) (“AdaptHealth” or the “Company”), a national leader in providing patient-centered, healthcare-at-home solutions including home medical equipment, medical supplies, and related services, announced today financial results for the fourth quarter and fiscal year ended December 31, 2023.

Key Points: 
  • AdaptHealth Corp. (NASDAQ: AHCO) (“AdaptHealth” or the “Company”), a national leader in providing patient-centered, healthcare-at-home solutions including home medical equipment, medical supplies, and related services, announced today financial results for the fourth quarter and fiscal year ended December 31, 2023.
  • Net revenue was $3,200.2 million compared to $2,970.6 million, an increase of 7.7% driven by non-acquired growth of 7.3%.
  • Net loss attributable to AdaptHealth Corp. was $678.9 million compared to net income of $69.3 million, largely resulting from a $830.8 million pre-tax write down of goodwill.
  • Richard Barasch, Chairman and Interim CEO of AdaptHealth, commented, “We closed out 2023 with strong performance across the board in the fourth quarter.

X-Caliber Funding and CastleGreen Finance Complete $122MM Refinance for Iconic Fairmont Breakers Long Beach Hotel in Long Beach, CA

Retrieved on: 
Monday, February 26, 2024
Professional Services, Other Construction & Property, Commercial Building & Real Estate, Finance, Construction & Property, REIT, The Breakers (hotel), Commercial property, Entertainment center, Restaurant, Multimedia, HTC, Ageing, Southern California Gas Company, Aquarium, Water, Walking, Partner (business rank), Ocean Center, Convention

X-Caliber Funding (X-Caliber), a national, direct commercial real estate lender, and CastleGreen Finance (CastleGreen), an affiliate of X-Caliber that provides capital through Commercial Property Assessed Clean Energy (C-PACE) financing, today announced the refinance of Long Beach, California’s Fairmont Breakers Hotel & Spa.

Key Points: 
  • X-Caliber Funding (X-Caliber), a national, direct commercial real estate lender, and CastleGreen Finance (CastleGreen), an affiliate of X-Caliber that provides capital through Commercial Property Assessed Clean Energy (C-PACE) financing, today announced the refinance of Long Beach, California’s Fairmont Breakers Hotel & Spa.
  • These financings demonstrate the wide scope of X-Caliber’s product offerings and their ability to provide effective, flexible, and specialized financing solutions for borrowers.
  • “The tax credits are designed to restore, reuse, and preserve iconic landmarks like the Fairmont Breakers Hotel, and they provide the borrower with greater flexibility to support their capital needs.
  • The Fairmont Breakers Long Beach is projected to open this spring.

Marcus & Millichap Brokers $79 Million Orange County Multifamily Asset Sale

Retrieved on: 
Thursday, February 22, 2024
REIT, Finance, Professional Services, Commercial Building & Real Estate, Construction & Property, MMI, County, Honda Center, Hope International University, Leeson, Growth, Sale, Anaheim Regional Medical Center, Marcus & Millichap, California State University, Kaiser Permanente, Cypress College, Research, Partnership, Commercial property

Marcus & Millichap (NYSE:MMI) , a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Chateau de Ville, a 254-unit multifamily property in Anaheim, California.

Key Points: 
  • Marcus & Millichap (NYSE:MMI) , a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Chateau de Ville, a 254-unit multifamily property in Anaheim, California.
  • The asset was brought to market for the first time in over 50 years and traded for $79,076,710 or $311,326 per unit.
  • “Orange County has been the tightest major rental market in California for the past three years, and this trend is projected to continue with a fourth straight year of rent growth,” said Tyler Leeson, executive managing director investments in Marcus & Millichap’s Orange County office.
  • Leeson and Matt Kipp, Marcus & Millichap first vice president investments, represented the seller, a long-term partnership, and procured the buyer, a private investor.

Broadstone Net Lease Announces 2023 Results and its Healthcare Portfolio Simplification Strategy

Retrieved on: 
Wednesday, February 21, 2024
Professional Services, Other Construction & Property, Commercial Building & Real Estate, Finance, Construction & Property, REIT, OP, Investment, Dialysis, Sale, Tenant, BNL, MOB, Risk, ABR, Line of credit, Public expenditure, Plasma, Environment, Commercial property

Broadstone Net Lease, Inc. (NYSE: BNL) (“BNL”, the “Company”, “we”, “our”, or “us”), today announced its operating results for the year and quarter ended December 31, 2023, and its healthcare portfolio simplification strategy.

Key Points: 
  • Broadstone Net Lease, Inc. (NYSE: BNL) (“BNL”, the “Company”, “we”, “our”, or “us”), today announced its operating results for the year and quarter ended December 31, 2023, and its healthcare portfolio simplification strategy.
  • See Healthcare Portfolio Simplification Strategy section below for additional information.
  • Refer to our fourth quarter 2023 investor presentation for more detailed information regarding our healthcare portfolio simplification strategy.
  • Our healthcare portfolio simplification strategy is an extension of our focus on portfolio quality and evolution, which we believe will result in meaningful value creation for investors.”

TPG RE Finance Trust, Inc. Reports Operating Results for the Quarter and Full Year Ended December 31, 2023

Retrieved on: 
Tuesday, February 20, 2024
Professional Services, Commercial Building & Real Estate, Finance, Construction & Property, Asset Management, Banking, Acquisition, CECL, GAAP, TPG, Sale, Webcast, UCC, Risk, Commercial property

TPG RE Finance Trust, Inc. (NYSE: TRTX) (“TRTX” or the “Company”) reported its operating results for the quarter and full year ended December 31, 2023.

Key Points: 
  • TPG RE Finance Trust, Inc. (NYSE: TRTX) (“TRTX” or the “Company”) reported its operating results for the quarter and full year ended December 31, 2023.
  • The quarter-end allowance equals 190 basis points of total loan commitments as of December 31, 2023 compared to 560 basis points as of September 30, 2023.
  • Held no non-accrual loans at December 31, 2023, compared to four loans at September 30, 2023 with a total amortized cost of $318.1 million.
  • The Company issued a supplemental presentation detailing its fourth quarter and full year 2023 operating results, which can be viewed at http://investors.tpgrefinance.com/ .

Medical Properties Trust, Inc. Reports Fourth Quarter and Full-Year Results

Retrieved on: 
Wednesday, February 21, 2024
Health, Hospitals, Commercial Building & Real Estate, Construction & Property, General Health, REIT, MPT, Hospital, Running, Circle Health, Investment, MPW, Steward Health Care System, International joint venture, Table, Growth, Bed, Sale, Exercise, Disclosure, Tenant, Medi-Cal, Patient, St. Francis, Priory Group, NFFO, Medical Properties Trust, Commercial property

Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW) today announced financial and operating results for the fourth quarter and full-year ended December 31, 2023, as well as certain events occurring subsequent to quarter end.

Key Points: 
  • Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW) today announced financial and operating results for the fourth quarter and full-year ended December 31, 2023, as well as certain events occurring subsequent to quarter end.
  • Medical Properties Trust has total assets of approximately $18.3 billion, including $12.0 billion of general acute facilities, $2.6 billion of behavioral health facilities and $1.7 billion of post-acute facilities.
  • Net loss for the quarter ended December 31, 2023 included several non-recurring write-offs and impairments detailed in the tables below.
  • These adjustments as they relate to fourth quarter and full-year 2023, as well as prior-year reporting, are included in this release and in the earnings supplemental.

Sunwest Bank Adds Greg Melidonian as EVP, Managing Director of Commercial Deposits & Payments

Retrieved on: 
Thursday, March 7, 2024
Commercial property, EVP, Marketing, Growth, Defense, Transaction, Wells Fargo, University, Business, Foster School of Business, Ecosystem, MUFG Union Bank, Cryptocurrency

SANDY, Utah, March 7, 2024 /PRNewswire/ -- Sunwest Bank is pleased to welcome Greg Melidonian as its new EVP, Managing Director of Commercial Deposits & Payments. In this role, Melidonian will provide leadership and strategic oversight for the bank's comprehensive payments and liquidity platforms, including online banking and treasury operations. Additionally, he will formulate and execute strategies for new business in the bank's strategic markets, playing a pivotal role in driving growth and success. 

Key Points: 
  • SANDY, Utah, March 7, 2024 /PRNewswire/ -- Sunwest Bank is pleased to welcome Greg Melidonian as its new EVP, Managing Director of Commercial Deposits & Payments.
  • "We are thrilled to welcome Greg to the Sunwest Bank team," said Don Satiroff, Sunwest Bank EVP & Chief Banking Officer.
  • Prior to joining Sunwest Bank, Melidonian was Head of Business for Transaction Banking Sales at MUFG Union Bank, overseeing four strategic markets – Commercial Real Estate, Business Banking, Wealth Markets, and Reorganization.
  • "I am excited to join Sunwest Bank and lead their business growth in strategic markets serving commercial clients," said Melidonian.