SFR

KBRA Releases Monthly CMBS Trend Watch

Retrieved on: 
Thursday, October 5, 2023

KBRA releases the September 2023 issue of CMBS Trend Watch.

Key Points: 
  • KBRA releases the September 2023 issue of CMBS Trend Watch.
  • But on a quarter-over-quarter (QoQ) basis, issuance performance continues to show improvement with YoY percentage declines for Q1-Q3 2023 trending lower.
  • Q4 issuance could follow the trend, with up to 12 deals announcing through early November, including seven conduits, three single-borrower (SB), one single-family rental (SFR), and one Freddie Mac K-Series deal.
  • This month’s edition also highlights recent KBRA research publications, which cover various topical issues.

PTI Secures €1.2 Billion Multi-Jurisdiction Transaction

Retrieved on: 
Thursday, September 28, 2023

"The multi-jurisdiction loan provides PTI with the flexibility to continue to grow our business across Europe with incremental liquidity available at our disposal.

Key Points: 
  • "The multi-jurisdiction loan provides PTI with the flexibility to continue to grow our business across Europe with incremental liquidity available at our disposal.
  • We are excited to continue to expand our presence in Europe and deliver value-add infrastructure solutions to our customers", said Dagan Kasavana, Chief Executive Officer of PTI.
  • "By providing a flexible financing covering multiple jurisdictions, PTI was able to simplify its capital structure, reduce pricing, and access incremental funds to support future growth.
  • We are pleased to partner with such a strong lender group in this landmark transaction", said Michael Bremer, Chief Financial Officer of PTI.

PTI Secures €1.2 Billion Multi-Jurisdiction Transaction

Retrieved on: 
Thursday, September 28, 2023

"The multi-jurisdiction loan provides PTI with the flexibility to continue to grow our business across Europe with incremental liquidity available at our disposal.

Key Points: 
  • "The multi-jurisdiction loan provides PTI with the flexibility to continue to grow our business across Europe with incremental liquidity available at our disposal.
  • We are excited to continue to expand our presence in Europe and deliver value-add infrastructure solutions to our customers", said Dagan Kasavana, Chief Executive Officer of PTI.
  • "By providing a flexible financing covering multiple jurisdictions, PTI was able to simplify its capital structure, reduce pricing, and access incremental funds to support future growth.
  • We are pleased to partner with such a strong lender group in this landmark transaction", said Michael Bremer, Chief Financial Officer of PTI.

Lightspeed Re-appoints Manon Brouillette to its Board of Directors, Reinforcing its Customer-Centric Vision

Retrieved on: 
Tuesday, September 26, 2023

MONTREAL, Sept. 26, 2023 (GLOBE NEWSWIRE) -- Lightspeed Commerce Inc. (NYSE | TSX: LSPD) is pleased to announce that Manon Brouillette has been re-appointed to its Board of Directors (the “Board”), effective October 1, 2023.

Key Points: 
  • MONTREAL, Sept. 26, 2023 (GLOBE NEWSWIRE) -- Lightspeed Commerce Inc. (NYSE | TSX: LSPD) is pleased to announce that Manon Brouillette has been re-appointed to its Board of Directors (the “Board”), effective October 1, 2023.
  • This is Manon Brouillette’s second term as one of Lightspeed’s Board members.
  • Manon’s return reinforces our steadfast commitment to innovation and excellence.”
    “I’m so excited to welcome Manon back to Lightspeed’s Board of Directors,” said JP Chauvet, CEO of Lightspeed.
  • This is a crucial moment for retailers and restaurateurs,” said Manon Brouillette.

Lightspeed Re-appoints Manon Brouillette to its Board of Directors, Reinforcing its Customer-Centric Vision

Retrieved on: 
Tuesday, September 26, 2023

MONTREAL, Sept. 26, 2023 (GLOBE NEWSWIRE) -- Lightspeed Commerce Inc. (NYSE | TSX: LSPD) is pleased to announce that Manon Brouillette has been re-appointed to its Board of Directors (the “Board”), effective October 1, 2023.

Key Points: 
  • MONTREAL, Sept. 26, 2023 (GLOBE NEWSWIRE) -- Lightspeed Commerce Inc. (NYSE | TSX: LSPD) is pleased to announce that Manon Brouillette has been re-appointed to its Board of Directors (the “Board”), effective October 1, 2023.
  • This is Manon Brouillette’s second term as one of Lightspeed’s Board members.
  • Manon’s return reinforces our steadfast commitment to innovation and excellence.”
    “I’m so excited to welcome Manon back to Lightspeed’s Board of Directors,” said JP Chauvet, CEO of Lightspeed.
  • This is a crucial moment for retailers and restaurateurs,” said Manon Brouillette.

IMN’s 2nd Annual SFR Industry Awards to be Hosted at the Fairmont Scottsdale Princess, Arizona on Dec 3, 2023

Retrieved on: 
Tuesday, September 19, 2023

Offering six distinct categories, a panel of 18 respected judges, and 40 awards up for grabs, this evening's ceremony promises to be a special celebration of SFR professionals.

Key Points: 
  • Offering six distinct categories, a panel of 18 respected judges, and 40 awards up for grabs, this evening's ceremony promises to be a special celebration of SFR professionals.
  • Whether you're early in your industry journey or have been in the space for a while, this event ensures a memorable experience for all.
  • This is the final chance to be honored on the SFR mainstage with awards to win including:
    “I am honored to serve as a judge at IMN’s Annual SFR Industry Awards.
  • The forum provides an ideal environment to learn from and establish connections with the people who are setting the pace in SFR.

Appreciate Holdings, Inc. Investors Should Contact Robbins LLP for Information About Our Investigation of SFR

Retrieved on: 
Wednesday, September 13, 2023

Shareholder rights law firm Robbins LLP is investigating Appreciate Holdings, Inc. (NASDAQ: SFR) to determine whether certain Appreciate Holdings officers and directors violated securities laws and breached fiduciary duties to shareholders by engaging in a conflicted SPAC process.

Key Points: 
  • Shareholder rights law firm Robbins LLP is investigating Appreciate Holdings, Inc. (NASDAQ: SFR) to determine whether certain Appreciate Holdings officers and directors violated securities laws and breached fiduciary duties to shareholders by engaging in a conflicted SPAC process.
  • In November 2022, special purpose acquisition company PropTech Investment Corporation II completed a business combination with Appreciate, after which the company proceeded to operate as Appreciate Holdings, Inc.
  • What Now: Appreciate Holdings, Inc. shareholders have legal options.
  • If you owned shares of PropTech Investment Corporation II at the time of the business combination and have incurred significant loss in the stock, contact us for more information about your rights.

Appreciate Holdings, Inc. Investor Alert: Robbins LLP is Investigating the Officers and Directors of SFR on Behalf of Shareholders

Retrieved on: 
Thursday, September 7, 2023

SAN DIEGO, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Shareholder rights law firm Robbins LLP is investigating Appreciate Holdings, Inc. (NASDAQ: SFR) to determine whether certain Appreciate Holdings officers and directors violated securities laws and breached fiduciary duties to shareholders by engaging in a conflicted SPAC process.

Key Points: 
  • SAN DIEGO, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Shareholder rights law firm Robbins LLP is investigating Appreciate Holdings, Inc. (NASDAQ: SFR) to determine whether certain Appreciate Holdings officers and directors violated securities laws and breached fiduciary duties to shareholders by engaging in a conflicted SPAC process.
  • In November 2022, special purpose acquisition company PropTech Investment Corporation II completed a business combination with Appreciate, after which the company proceeded to operate as Appreciate Holdings, Inc.
  • While the stock briefly traded over $10.00, it now trades around $0.28.
  • What Now: Appreciate Holdings, Inc. shareholders have legal options.

Dwight Capital and Dwight Mortgage Trust Finance $246MM in August 2023

Retrieved on: 
Thursday, September 14, 2023

Dwight Capital and its affiliate REIT, Dwight Mortgage Trust (“DMT”), closed over $246MM in real estate financings during August.

Key Points: 
  • Dwight Capital and its affiliate REIT, Dwight Mortgage Trust (“DMT”), closed over $246MM in real estate financings during August.
  • Dwight Mortgage Trust provided a $62MM construction loan for The Village at Compass Pointe, a 268-unit proposed SFR townhome and apartment rental community in Leland, NC.
  • The property will consist of 128 rental units across two four-story apartment buildings and 140 single-family townhomes on approximately 25 acres.
  • McBride Capital brokered this transaction for a repeat Dwight client, Pahlisch Commercial.

KBRA Assigns Preliminary Ratings to Progress Residential 2023-SFR2

Retrieved on: 
Wednesday, September 13, 2023

KBRA assigns preliminary ratings to five classes of Progress Residential 2023-SFR2 (Progress 2023-SFR2) single-family rental pass-through certificates.

Key Points: 
  • KBRA assigns preliminary ratings to five classes of Progress Residential 2023-SFR2 (Progress 2023-SFR2) single-family rental pass-through certificates.
  • The subject transaction will be the 28th KBRA-rated securitization issued by Progress Residential.
  • KBRA adjusted the BPOs, which yielded an aggregate value of $397.9 million, which represents a 7.5% haircut to the nominal BPO value.
  • To determine loss given default (LGD), KBRA assumes the underlying properties would be liquidated in the residential property market.