Construction & Property

Albion in the Gulch Kicks Off Leasing for Nashville’s Premier Luxury Tower; First Move-ins to Begin in March

Retrieved on: 
Tuesday, January 10, 2023

“Albion in the Gulch’s design breaks the current mold and stands out amongst other new apartment communities in the region, inside and out,” said Andrew Yule, Vice President of Development at Albion Residential.

Key Points: 
  • “Albion in the Gulch’s design breaks the current mold and stands out amongst other new apartment communities in the region, inside and out,” said Andrew Yule, Vice President of Development at Albion Residential.
  • “We wanted to deliver to the market a building that could set a new standard, and we believe we’ve achieved that.
  • The finishes are of a quality beyond expectation, and the amenities are dynamic and diverse to foster community by delivering something for everyone.
  • For more information and to see its full mix of available units, visit: https://www.albioninthegulch.com/
    Follow Albion in the Gulch’s on social media at:

Enterprise and Wells Fargo Foundation Announce $20M Housing Affordability Breakthrough Challenge

Retrieved on: 
Tuesday, January 10, 2023

The Wells Fargo Foundation is expanding its commitment to housing affordability through another $20 million competition with Enterprise Community Partners (Enterprise) to find housing solutions.

Key Points: 
  • The Wells Fargo Foundation is expanding its commitment to housing affordability through another $20 million competition with Enterprise Community Partners (Enterprise) to find housing solutions.
  • The second Housing Affordability Breakthrough Challenge will once again focus on three categories: Financing, Construction, and Access and Resident Support.
  • View the full release here: https://www.businesswire.com/news/home/20230109005918/en/
    Construction workers build a MiCASiTA home, one of six winners in the 2020 Housing Affordability Breakthrough Challenge.
  • “The Housing Affordability Breakthrough Challenge gave us the time and resources to get to work,” said cdcb Executive Director Nick Mitchell-Bennett.

Alcoa announces restructuring of Executive Leadership Team

Retrieved on: 
Tuesday, January 10, 2023

Alcoa Corporation (NYSE: AA) today announced a restructuring of its Executive Leadership Team to further improve the Company’s rigorous focus on operational excellence, cost, and innovation.

Key Points: 
  • Alcoa Corporation (NYSE: AA) today announced a restructuring of its Executive Leadership Team to further improve the Company’s rigorous focus on operational excellence, cost, and innovation.
  • The changes, effective February 1, 2023, will include the reassignment of responsibilities for two existing members of the Executive Leadership Team and the appointment of a new Chief Financial Officer.
  • She will also be the executive member to oversee Alcoa’s Information Technology and Automation Solutions team.
  • Prior to the Separation of Alcoa Inc. into two separate companies in 2016, Mr. Bacchi was Assistant Treasurer of Alcoa.

AHF Welcomes L.A.’s Leland Hotel to Roster of Affordable Housing

Retrieved on: 
Monday, January 9, 2023

Since 2017, when AHF first kicked off its housing program to address L.A.’s homeless and affordable housing crises, the Healthy Housing Foundation has spent over $183 million purchasing a variety of existing older residential properties throughout Greater Los Angeles—old single-room-occupancy (SRO) hotels, former roadside or chain motels, older apartment buildings—and refurbished and repurposed them as affordable housing and extremely-low-income housing.

Key Points: 
  • Since 2017, when AHF first kicked off its housing program to address L.A.’s homeless and affordable housing crises, the Healthy Housing Foundation has spent over $183 million purchasing a variety of existing older residential properties throughout Greater Los Angeles—old single-room-occupancy (SRO) hotels, former roadside or chain motels, older apartment buildings—and refurbished and repurposed them as affordable housing and extremely-low-income housing.
  • The purchase price for the Leland was $6,750,000—or approximately $108,870 per room or housing unit—a fraction of the half-million-dollar and up per housing unit the City of Los Angeles routinely spends on newly constructed affordable housing.
  • AHF’s Healthy Housing Foundation was created to help address the rampant affordable housing crisis sweeping the nation.
  • We are delighted to add the 62-rooms of the Leland Hotel—which was completely uninhabitable prior to AHF’s purchase—to our roster of affordable housing here in Los Angeles,” said Michael Weinstein, president of AHF.

Omega Issues Business Update in Conjunction With Capital One Securities 2nd Annual REIT Conference

Retrieved on: 
Monday, January 9, 2023

Omega Healthcare Investors, Inc. (NYSE: OHI) announced today that it has revised the COVID-19 Operator Update slides of its investor presentation in conjunction with the Capital One Securities 2nd Annual REIT Conference.

Key Points: 
  • Omega Healthcare Investors, Inc. (NYSE: OHI) announced today that it has revised the COVID-19 Operator Update slides of its investor presentation in conjunction with the Capital One Securities 2nd Annual REIT Conference.
  • The revised COVID-19 Operator Update slides are on pages 11 through 14 of the presentation.
  • Omega is a real estate investment trust that invests in the long-term healthcare industry, primarily in skilled nursing and assisted living facilities.
  • Its portfolio of assets is operated by a diverse group of healthcare companies, predominantly in a triple-net lease structure.

Walker & Dunlop Leverages Advisory Experience to Help Capital Providers Manage Loan Portfolios

Retrieved on: 
Monday, January 9, 2023

“It is more important than ever for credit providers to actively manage their portfolios.

Key Points: 
  • “It is more important than ever for credit providers to actively manage their portfolios.
  • The Walker & Dunlop New York Capital Markets team, led by Co-Heads Aaron Appel , Keith Kurland , Jonathan Schwartz , and Adam Schwartz , will oversee the credit portfolio advisory business.
  • “Our team began working with capital providers in the second quarter of 2022 on effectively managing their credit portfolios through an evolving capital markets landscape.
  • Through the third quarter of 2022, the Walker & Dunlop Capital Markets segment sourced capital for transactions totaling over $21 billion from non-Agency capital providers.

INDUS Announces 2022 Fourth Quarter Leasing, Pipeline and Corporate Updates

Retrieved on: 
Monday, January 9, 2023

During the 2022 fourth quarter, the Company completed the sale of its office/flex portfolio, including a small storage building used in the operations of the portfolio (the “Office/Flex Portfolio”), for a sale price of $11.0 million.

Key Points: 
  • During the 2022 fourth quarter, the Company completed the sale of its office/flex portfolio, including a small storage building used in the operations of the portfolio (the “Office/Flex Portfolio”), for a sale price of $11.0 million.
  • With the disposition of the Office/Flex Portfolio, INDUS is now a pure-play industrial/logistics real estate business with a modern portfolio located in select high-growth markets.
  • Additionally, INDUS entered into an agreement to sell approximately 11.5 acres in Windsor, Connecticut (“825 Prospect Hill”) for $1.8 million.
  • During the 2022 fourth quarter, INDUS announced that its Board of Directors declared a cash dividend of $0.18 per share of common stock, which will be payable on January 17, 2023 to stockholders of record on December 30, 2022.

Tredegar Announces Retirement of John D. Gottwald

Retrieved on: 
Monday, January 9, 2023

Tredegar Corporation (NYSE:TG) today announced that John D. Gottwald retired as Tredegar’s chairman of the board of directors on January 6, 2023, and the board has selected Gregory A. Pratt to succeed Mr. Gottwald as chairman.

Key Points: 
  • Tredegar Corporation (NYSE:TG) today announced that John D. Gottwald retired as Tredegar’s chairman of the board of directors on January 6, 2023, and the board has selected Gregory A. Pratt to succeed Mr. Gottwald as chairman.
  • Mr. Gottwald has served as a director since 1989 and as chairman of the board since May of 2019.
  • For more than 30 years, he has served in key roles with great distinction, and he embodies the principles and values that define Tredegar.
  • He has been a purpose-driven leader who has leveraged his business acumen and knowledge of the industries in which Tredegar operates to help guide Tredegar for decades.

JBG SMITH Announces Major Milestone for the Washington Housing Initiative Impact Pool

Retrieved on: 
Monday, January 9, 2023

Part of the Washington Housing Initiative (WHI) that was launched by JBG SMITH and Federal City Council, the Impact Pool leverages private capital to help combat the scarcity of housing for middle-income families throughout the DC region’s most up-and-coming neighborhoods.

Key Points: 
  • Part of the Washington Housing Initiative (WHI) that was launched by JBG SMITH and Federal City Council, the Impact Pool leverages private capital to help combat the scarcity of housing for middle-income families throughout the DC region’s most up-and-coming neighborhoods.
  • The Impact Pool is managed by a subsidiary of JBG SMITH.
  • “We created the Impact Pool to steer private investment into housing for teachers, nurses, EMTs and other workers who are essential to their communities,” said AJ Jackson, EVP of Social Impact Investing at JBG SMITH.
  • In March, the WHI Impact Pool provided financing for the Washington Housing Conservancy and Montgomery Housing Partnership’s acquisition of Earle Manor, a 140-unit multifamily asset.

Pentair Names Shelly Hubbard as Vice President, Investor Relations

Retrieved on: 
Monday, January 9, 2023

Pentair plc (NYSE: PNR), a leading provider of water treatment and sustainable solutions, announced today that it has named Shelly Hubbard as Vice President, Investor Relations.

Key Points: 
  • Pentair plc (NYSE: PNR), a leading provider of water treatment and sustainable solutions, announced today that it has named Shelly Hubbard as Vice President, Investor Relations.
  • “I am excited to announce that Shelly has joined Pentair to lead our Investor Relations function.
  • We look forward to Shelly making valuable contributions to Pentair as we communicate our strategy and priorities,” said Robert P. Fishman, Executive Vice President and Chief Financial Officer of Pentair.
  • Before joining Pentair, Hubbard served as Vice President of Investor Relations at Vista Outdoor.