REIT

SmartRent Launches Alloy SmartHome Leak Sensor+

Retrieved on: 
Monday, April 8, 2024
Commercial Building & Real Estate, Software, Construction & Property, Building Systems, Technology, REIT, Other Construction & Property, Residential Building & Real Estate, Water damage, Internet of things, Life, Humidity, Leak, Communication, SMRT, Instrumentation

SmartRent , Inc. (NYSE: SMRT) (“SmartRent” or the “Company”), the leading provider of smart communities and smart operations solutions for the rental housing industry, today announced the launch of its Alloy SmartHome Leak Sensor+.

Key Points: 
  • SmartRent , Inc. (NYSE: SMRT) (“SmartRent” or the “Company”), the leading provider of smart communities and smart operations solutions for the rental housing industry, today announced the launch of its Alloy SmartHome Leak Sensor+.
  • Even with increased performance features, Leak Sensor+ will be offered at the same price point as previous sensor models.
  • “To date, SmartRent has saved more than 134,000 floors from potential damage with our leak detection technology.
  • Leak Sensor+ is our latest device designed from the ground up to improve detection proficiency and accuracy while augmenting the greater smart home ecosystem,” said SmartRent CEO Lucas Haldeman.

Cushman & Wakefield Successfully Completes Term Loan Repricing; Prepays $50 million of Total Debt Outstanding

Retrieved on: 
Tuesday, April 9, 2024
Professional Services, Other Construction & Property, Commercial Building & Real Estate, Finance, Construction & Property, REIT, Cushman & Wakefield, Term loan, Term, CWK

Cushman & Wakefield (NYSE: CWK) today announced that it has successfully completed a repricing of $1.0 billion of its Term Loan (“Term Loan”) due 2030.

Key Points: 
  • Cushman & Wakefield (NYSE: CWK) today announced that it has successfully completed a repricing of $1.0 billion of its Term Loan (“Term Loan”) due 2030.
  • The repricing reduces the applicable interest rate on the $1.0 billion of Term Loan issued in August 2023 by 25bps from Term SOFR plus 4.00% to Term SOFR plus 3.75%.
  • There are no changes to the maturity of the Term Loan following this repricing and all other terms are substantially unchanged.
  • Additionally, the Company announced that during the first quarter it elected to prepay $50 million of its Term Loan due 2025.

Vesta Announces First Quarter 2024 Earnings Conference Call and Webcast

Retrieved on: 
Monday, April 8, 2024
Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, REIT, VESTA, Webcast, Vesta, BMV

Corporación Inmobiliaria Vesta, S.A.B.

Key Points: 
  • Corporación Inmobiliaria Vesta, S.A.B.
  • de C.V. (NYSE: VTMX, BMV: VESTA) ("Vesta") announced today that the Company's first quarter 2024 financial results will be released after market close on Thursday, April 25, 2024.
  • Vesta will host a conference call to discuss its results:
    Please connect via webcast or by dialing:

Blackstone Real Estate to Take AIR Communities Private for Approximately $10 Billion

Retrieved on: 
Monday, April 8, 2024
Professional Services, Finance, Construction & Property, Asset Management, REIT, Banking, Slate, BofA Securities, Culture, BX, Growth, Goldman Sachs, Aimco, Simpson Thacher & Bartlett, LLP, Community, Wells Fargo, AIRC, AIR, Commercial property

Blackstone (NYSE: BX) and Apartment Income REIT Corp. (NYSE: AIRC) (“AIR Communities” or the “Company”) today announced that they have entered into a definitive agreement under which Blackstone Real Estate Partners X (“Blackstone”) will acquire all outstanding common shares of AIR Communities for $39.12 per share in an all-cash transaction valued at approximately $10 billion, including the assumption of debt.

Key Points: 
  • Blackstone (NYSE: BX) and Apartment Income REIT Corp. (NYSE: AIRC) (“AIR Communities” or the “Company”) today announced that they have entered into a definitive agreement under which Blackstone Real Estate Partners X (“Blackstone”) will acquire all outstanding common shares of AIR Communities for $39.12 per share in an all-cash transaction valued at approximately $10 billion, including the assumption of debt.
  • The transaction will strengthen the AIR mission to provide homes for others, be a great place to work, act as responsible stewards of AIR communities, and be a trusted partner to AIR investors.
  • The AIR team is grateful to Blackstone for the opportunity and for its faith in what can be accomplished working together,” said Terry Considine, President & CEO of AIR Communities.
  • Citigroup Global Markets Inc. is acting as AIR Communities’ financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as AIR Communities’ legal counsel.

Trinity Investments and Partners Group Acquire The Scottsdale Plaza Resort & Villas

Retrieved on: 
Monday, April 8, 2024
Other Construction & Property, Commercial Building & Real Estate, Lodging, Construction & Property, Destinations, Travel, REIT, Friends, Partner, Growth, The Ritz-Carlton Hotel Company, Partnership, Resort, Acquisition, Partners Group, Family, Hotel

A joint venture between Partners Group, a leading global private markets firm, acting on behalf of its clients, and funds managed by Trinity Investments (“Trinity”), announced today the acquisition of The Scottsdale Plaza Resort & Villas (the “Resort”), located in Paradise Valley, Arizona.

Key Points: 
  • A joint venture between Partners Group, a leading global private markets firm, acting on behalf of its clients, and funds managed by Trinity Investments (“Trinity”), announced today the acquisition of The Scottsdale Plaza Resort & Villas (the “Resort”), located in Paradise Valley, Arizona.
  • The Scottsdale Plaza Resort & Villas features 404 rooms spread across the central hotel and surrounding villa suites, as well as 50,000 square feet of meeting space.
  • “The Scottsdale Plaza Resort & Villas is a prime example of an excellent property coming to market in need of a significant capital investment from a partnership like Trinity and Partners Group that can deliver a development plan for future growth,” said Sean Hehir, Managing Partner, President, and CEO of Trinity.
  • “Trinity has been an excellent partner in creating, managing and delivering additional value on our joint investments,” said Jason Longo, Senior Investment Leader, Partners Group.

Primestor Development Expands Retail Portfolio With The Acquisition of Esplanade Shopping Center in Oxnard, CA

Retrieved on: 
Monday, April 8, 2024
Commercial Building & Real Estate, Construction & Property, Restaurant, Bar, Other Retail, REIT, Other Construction & Property, Retail, Department Stores, Walmart, Esplanade, The Home Depot, NAP, Acquisition, BJ's, Investment, Multimedia, TJ Maxx, World Market (store), Nordstrom Rack, Commercial property

Primestor Development (Primestor), a leading minority-owned and led real estate development and investment firm based in Los Angeles, has announced the $90 million acquisition of the Esplanade Shopping Center, a 357,000-square-foot grocery-anchored retail community center in the coastal city of Oxnard, CA.

Key Points: 
  • Primestor Development (Primestor), a leading minority-owned and led real estate development and investment firm based in Los Angeles, has announced the $90 million acquisition of the Esplanade Shopping Center, a 357,000-square-foot grocery-anchored retail community center in the coastal city of Oxnard, CA.
  • View the full release here: https://www.businesswire.com/news/home/20240408316258/en/
    “The Esplanade Shopping Center provides the opportunity to acquire a 94% leased, institutional-quality, necessity retail asset located in a high-traffic area with a favorable mix of cash flow stability and embedded value-add potential,” noted Lonnie Vidaurri, Chief Investment Officer of Primestor.
  • Other tenants include Cost Plus World Market, Tillys, Boot Barn, In-N-Out Burger, BJ's Brewery and Restaurant, and more.
  • The company’s long-standing community engagement process is further underscored by its partnerships with local governments, community organizations, national credit tenants, and local stakeholders.

Sila Realty Trust, Inc. to Pursue a Listing on the New York Stock Exchange

Retrieved on: 
Monday, April 8, 2024
Commercial Building & Real Estate, Construction & Property, Finance, Health, Hospitals, Professional Services, REIT, Other Health, Wells Fargo, DRIP, SRP, Share repurchase, Holding company

The Company intends to list its common stock on the NYSE under the ticker symbol “SILA”.

Key Points: 
  • The Company intends to list its common stock on the NYSE under the ticker symbol “SILA”.
  • The listing is subject to, among other things, the Company meeting the NYSE listing requirements and receiving NYSE listing authorization, as well as market conditions.
  • There can be no assurance as to whether, or when, the listing may be completed.
  • Prior to listing the Company on the NYSE, on May 1, 2024, the Company will effectuate a 1-for-4 reverse stock split of all classes of common stock.

CMCT Declares Preferred Stock Dividends

Retrieved on: 
Monday, April 8, 2024
Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, REIT, Federal funds

*The quarterly cash dividend of $0.489375 per share represents an annualized dividend rate of 7.83% (2.5% plus the federal funds rate of 5.33% on the applicable determination date).

Key Points: 
  • *The quarterly cash dividend of $0.489375 per share represents an annualized dividend rate of 7.83% (2.5% plus the federal funds rate of 5.33% on the applicable determination date).
  • The terms of the Series A1 Preferred Stock provide for cumulative cash dividends (if, as and when authorized by the Board of Directors) on each share of Series A1 Preferred Stock at a quarterly rate of the greater of (i) 6.00% of the Series A1 Stated Value, divided by four (4) and (ii) the Federal Funds (Effective) Rate on the applicable determination date, plus 2.50%, of the Series A1 Stated Value, divided by four (4), up to a maximum of 2.50% of the Series A1 Stated Value per quarter.
  • For shares of Series A1 Preferred Stock issued in the second quarter of 2024, the dividend will be prorated from the date of issuance, and the monthly dividend payments will reflect such proration.

CBRE Global Real Estate Income Fund (NYSE: IGR) Declares Monthly Distribution for April, May and June and Announces a Webinar with Portfolio Management

Retrieved on: 
Monday, April 8, 2024
Other Professional Services, Construction & Property, Finance, Asset Management, Banking, Professional Services, REIT, Other Construction & Property, Character, Policy, Sale, Real estate investment trust, Fund, Life insurance

SHAREHOLDERS WILL BE SENT A FORM 1099-DIV FOR THE CALENDAR YEAR INDICATING HOW TO REPORT FUND DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.

Key Points: 
  • SHAREHOLDERS WILL BE SENT A FORM 1099-DIV FOR THE CALENDAR YEAR INDICATING HOW TO REPORT FUND DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.
  • The estimated allocations presented above are based on the Fund’s monthly calculation of its year-to-date net investment income, capital gains and returns of capital.
  • The Fund’s investment income is mainly comprised of distributions received from the real estate investment trusts (REITs) and other companies in which it invests.
  • The Fund’s net investment income is reduced by the amounts characterized by the REITs as capital gains and returns of capital.

Docutech’s Solex® Named a 2024 Innovations Award Winner by the PROGRESS in Lending Association™

Retrieved on: 
Monday, April 8, 2024
Professional Services, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, REIT, Banking, PROGRESS, E-sign, EVault, Sale, Solex

Winners are chosen by PROGRESS in Lending’s executive team.

Key Points: 
  • Winners are chosen by PROGRESS in Lending’s executive team.
  • According to PROGRESS in Lending, Solex represents a significant leap forward in the mortgage industry by encompassing every stage of the mortgage process, from point-of-sale through post-closing.
  • Solex was also highlighted for its ability to operate without the need for extensive infrastructure on the lenders’ end.
  • Intentionally designed to be as configurable as possible, Solex allows lenders to build and display a unique solution for their borrowers.