Landlord–tenant law

Slight Downturn in Lease Credit Approvals in October

Thursday, November 14, 2019 - 5:30pm

When compared to October of 2018, the number of lease approvals has decreased slightly from 70.9%.

Key Points: 
  • When compared to October of 2018, the number of lease approvals has decreased slightly from 70.9%.
  • Strengthening credit profiles and positive consumer credit behavior could be the reason for a higher than usual credit approval average.
  • Swapalease.com matches a person wanting out of their existing vehicle lease contract with a car shopper looking to take over a short-term vehicle lease.
  • More specifically Swapalease.com matches individuals who want to get out of their lease with people who are looking for short-term lease agreements.

Coalition of Tenant Advocates Stage Press Conference at Alhambra City Hall, Call for a Moratorium on Retaliatory Evictions

Monday, November 11, 2019 - 11:53pm

Tuesday, November 12, 2019, at 6:00 p.m., a broad coalition of tenant advocates will stage a press conference at Alhambra City Hall calling on City Council to pass a moratorium on all retaliatory evictions in the wake of the passage of Assembly Bill 1482, the anti-rent gouging measure recently signed by Governor Newsom.

Key Points: 
  • Tuesday, November 12, 2019, at 6:00 p.m., a broad coalition of tenant advocates will stage a press conference at Alhambra City Hall calling on City Council to pass a moratorium on all retaliatory evictions in the wake of the passage of Assembly Bill 1482, the anti-rent gouging measure recently signed by Governor Newsom.
  • Now a surge in mass evictions and rent gouging, if unchecked, could amount to the potential displacement of thousands of working class Californians by the holidays.
  • Los Angeles was the first local government to take action to protect renters against predatory landlords.
  • Tuesday, Alhambra City Council has a chance to prevent thousands of tenants from becoming homeless by the holidays.

Swivel's Agile Leasing Platform Delivers A One-Stop-Shop Experience For Business-Ready Office Space With Short Lease Terms

Monday, November 11, 2019 - 6:30pm

AUSTIN, Texas, Nov. 11, 2019 /PRNewswire-PRWeb/ -- Swivel , Inc., an agile leasing platform, announced today how it is transforming the office leasing process for growing teams of 10 to 200 employees that need to research, lease, and outfit their next office space.

Key Points: 
  • AUSTIN, Texas, Nov. 11, 2019 /PRNewswire-PRWeb/ -- Swivel , Inc., an agile leasing platform, announced today how it is transforming the office leasing process for growing teams of 10 to 200 employees that need to research, lease, and outfit their next office space.
  • Agile leasing is a cost-effective option for businesses that want to avoid getting locked into a long-term lease.
  • Swivel's agile leasing platform enables any landlord and their leasing teams to offer short leases for private, fully-furnished office space for up to 200 employees.
  • With its agile leasing platform, Swivel enables any landlord and their leasing teams to offer short and flexible leases for fully-furnished and private spaces for up to 200 employees.

ResMan Debuts New Commercial Solution, Extends Industry Leadership Position

Monday, November 11, 2019 - 1:00pm

ResMan Commercial is a lease-based solution designed by industry experts specifically to meet the needs of commercial and mixed-use property managers and investors.

Key Points: 
  • ResMan Commercial is a lease-based solution designed by industry experts specifically to meet the needs of commercial and mixed-use property managers and investors.
  • In today's property management industry, asset diversification is critical to growth, and mixed-use properties are becoming the unifying component to a successful business.
  • The ResMan Platform offers a commercial solution tailored to the needs of commercial managers to gain insights across their entire portfolio, make daily tasks simple, and satisfy tenant needs.
  • Greg Daniele, Principal Product Manager for ResMan Commercial, will be speaking at 3:55 pm with the topic "Completely Powerful, Completely Simple Introducing ResMan Commercial" in Room Cortez A.

Safehold Closes $275 Million Manhattan Ground Lease at 195 Broadway

Thursday, November 7, 2019 - 9:30pm

Safehold Inc. (NYSE: SAFE) has closed on the previously announced Safehold ground lease under 195 Broadway in New York City for $275 million.

Key Points: 
  • Safehold Inc. (NYSE: SAFE) has closed on the previously announced Safehold ground lease under 195 Broadway in New York City for $275 million.
  • The newly created ground lease helped a large institutional customer efficiently capitalize the purchase of this iconic building.
  • View the full release here: https://www.businesswire.com/news/home/20191107005720/en/
    The closing of 195 Broadway highlights the growing momentum of our modern ground lease solution, delivering superior capital to owners, operators and developers of high-quality assets, said Marcos Alvarado, President and Chief Investment Officer.
  • Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.

AM InvestCo Italy sends withdrawal and termination notice from the lease and purchase agreement for Ilva business

Monday, November 4, 2019 - 12:33pm

Today, AM InvestCo Italy (the Company) sent to Ilvas Commissioners a notice to withdraw from, or terminate, the agreement (the Agreement) for the lease and subsequent conditional purchase of the business of Ilva S.p.A. and certain of its subsidiaries (Ilva), closed on 31 October 2018.

Key Points: 
  • Today, AM InvestCo Italy (the Company) sent to Ilvas Commissioners a notice to withdraw from, or terminate, the agreement (the Agreement) for the lease and subsequent conditional purchase of the business of Ilva S.p.A. and certain of its subsidiaries (Ilva), closed on 31 October 2018.
  • Such prescriptions should also reasonably and prudentially be applied to the other two blast furnaces at the Taranto plant.
  • The shutdown would make it impossible for the Company to implement its industrial plan, operate the Taranto plant and, generally, perform the Agreement.
  • All the mentioned circumstances also entitle the Company to terminate the Agreement under the applicable provisions and principles of the Italian Civil Code.

AeroCentury Corp. Announces Update Regarding Revolving Credit Facility

Friday, November 1, 2019 - 8:30pm

BURLINGAME, Calif., Nov. 01, 2019 (GLOBE NEWSWIRE) -- AeroCentury Corp. (NYSE American: ACY) (the Company), an independent aircraft leasing company released information regarding the impact of recent events on the Companys revolving credit facility and the path forward for the Company.

Key Points: 
  • BURLINGAME, Calif., Nov. 01, 2019 (GLOBE NEWSWIRE) -- AeroCentury Corp. (NYSE American: ACY) (the Company), an independent aircraft leasing company released information regarding the impact of recent events on the Companys revolving credit facility and the path forward for the Company.
  • On October 28, 2019, the Company entered into a Forbearance Agreement (the Forbearance Agreement) with the Lenderswith respect to the Borrowing Base Noncompliance.
  • The Company remains fully able to make its required payments of interest under the credit facility and meet all its other financial obligations to its other creditors.
  • About AeroCentury: AeroCentury is an independent global aircraft operating lessor and finance company specializing in leasing regional jet and turboprop aircraft and related engines.

KBRA Credit Profile (KCP) Releases Special Report: Forever 21 Revised Lease Rejection Schedule – CMBS Exposure

Friday, November 1, 2019 - 7:30pm

Kroll Bond Rating Agency (KBRA) releases a special report, Forever 21 Revised Lease Rejection Schedule CMBS Exposure, which examines CMBS exposure to potential Forever 21 bankruptcy closures.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a special report, Forever 21 Revised Lease Rejection Schedule CMBS Exposure, which examines CMBS exposure to potential Forever 21 bankruptcy closures.
  • As part of its ongoing restructuring, Forever 21 filed a revised lease rejection schedule earlier this week.
  • Sixteen new leases were identified for potential rejection, while 83 of the 178 leases outlined in prior filings will reportedly be spared from rejection following successful lease negotiations with landlords.
  • KBRA Credit Profile (KCP) examined its coverage universe and identified 43 stores across 62 transactions with exposure to Forever 21s revised list of 111 potential store closures.

WIth Growth of 500%, Leasebreak Proves Transparency and "Free" Still Win the Day

Friday, November 1, 2019 - 12:35pm

While Leasebreak attributes some of this growth to its laser focus on the NYC short term rental, furnished sublet, and leasebreak markets, a large part of this growth is due to its steadfast commitment to its core principles of transparency and free offerings.

Key Points: 
  • While Leasebreak attributes some of this growth to its laser focus on the NYC short term rental, furnished sublet, and leasebreak markets, a large part of this growth is due to its steadfast commitment to its core principles of transparency and free offerings.
  • To be clear, it is completely free to list or search on Leasebreak for any furnished short term rental, sublet, leasebreak, lease assignment, or room for rent.
  • It was free the first day Leasebreak launched in beta in 2013, and it is still free today.
  • "You don't have to sacrifice your core values in order to drive traffic and profits", says Phil Horigan, founder and owner of Leasebreak.

Plymouth Industrial REIT Completes Acquisition of Multi-Tenant Industrial Building in Atlanta for $19.4 Million

Thursday, October 31, 2019 - 11:00am

Plymouth Industrial REIT, Inc. (NYSE American: PLYM) announced that it acquired a multi-tenant industrial building in the Atlanta suburb of Peachtree City, Georgia for $19.4 million.

Key Points: 
  • Plymouth Industrial REIT, Inc. (NYSE American: PLYM) announced that it acquired a multi-tenant industrial building in the Atlanta suburb of Peachtree City, Georgia for $19.4 million.
  • Located on Highway 74 in the Fayette/Coweta Industrial submarket south of the Atlanta International Airport, the 295,693-square-foot industrial building is 100% leased to 15 tenants, with a weighted average lease term of approximately five years.
  • The property has ready access to the major highways in Atlanta, including I-85 and Highway 54.
  • Plymouth Industrial REIT, Inc. is a vertically integrated and self-managed real estate investment trust focused on the acquisition and operation of single and multi-tenant industrial properties located in secondary and select primary markets across the United States.