Commercial Building & Real Estate

CBRE To Acquire Majority Interest in and Form Strategic Partnership With Turner & Townsend

Tuesday, July 27, 2021 - 12:30pm

CBRE Group, Inc. (NYSE:CBRE) and Turner & Townsend Holdings Limited today announced a definitive agreement whereby CBRE will acquire a 60% ownership interest in, and enter into a strategic partnership with Turner & Townsend, a United Kingdom-based global leader in program, project and cost management.

Key Points: 
  • CBRE Group, Inc. (NYSE:CBRE) and Turner & Townsend Holdings Limited today announced a definitive agreement whereby CBRE will acquire a 60% ownership interest in, and enter into a strategic partnership with Turner & Townsend, a United Kingdom-based global leader in program, project and cost management.
  • The transaction preserves Turner & Townsends existing leadership team, heritage, operational independence and partnership structure, which will hold the remaining 40% ownership interest.
  • Turner & Townsend provides program management, cost consultancy, project management and advisory consulting services for clients in 46 countries.
  • Vincent Clancy, chairman and chief executive officer of Turner & Townsend, said: The combined partnership of CBRE and Turner & Townsend will create the premier global provider of program, project and cost management from day one.

Audax Private Equity to Sell Reedy Industries to Partners Group

Tuesday, July 27, 2021 - 12:30pm

Audax Private Equity (Audax) today announced that it has signed a definitive agreement to sell Reedy Industries (Reedy or the Company), a leading provider of commercial heating, ventilation and air conditioning (HVAC), to Partners Group, acting on behalf of its clients.

Key Points: 
  • Audax Private Equity (Audax) today announced that it has signed a definitive agreement to sell Reedy Industries (Reedy or the Company), a leading provider of commercial heating, ventilation and air conditioning (HVAC), to Partners Group, acting on behalf of its clients.
  • Audax Private Equity has invested over $7 billion in more than 140 platforms and over 975 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund.
  • About Partners Group Partners Group is a leading global private markets firm.
  • Since 1996, the firm has invested over USD 150 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally.

Affordability Declined for Third Month in a Row, According to First American Real House Price Index

Tuesday, July 27, 2021 - 12:00pm

First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today released the May 2021 First American Real House Price Index (RHPI) .

Key Points: 
  • First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today released the May 2021 First American Real House Price Index (RHPI) .
  • Housing affordability declined on a year-over-year basis for the third month in a row in May, following a two-year streak of rising affordability, said Mark Fleming, chief economist at First American.
  • The drop in affordability was broadly felt as affordability declined year over year in 49 of the 50 markets we track, said Fleming.
  • The next release of the First American Real House Price Index will take place the week of August 30, 2021 for June 2021 data.

Postal Realty Trust Declares Second Quarter 2021 Dividend

Tuesday, July 27, 2021 - 12:30pm

The increase represents an 8.5% increase from the second quarter 2020 dividend.

Key Points: 
  • The increase represents an 8.5% increase from the second quarter 2020 dividend.
  • The dividend will be payable on August 27, 2021 to stockholders of record as of the close of business on August 13, 2021.
  • Postal Realty Trust, Inc. is an internally managed real estate investment trust that owns and manages over 1,250 properties leased primarily to the USPS, ranging from last mile post offices to larger industrial facilities.
  • As a result, the Companys actual results may differ materially from those contemplated by the forward-looking statements.

2021 Report on the Building Future (Construction) Global Market - Featuring Autodesk, Multiplex and Clack Construction Among Others - ResearchAndMarkets.com

Tuesday, July 27, 2021 - 11:02am

The "Building Future (Construction) - Emerging Technologies have the Midas Touch for Stubbornly Analog Construction" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Building Future (Construction) - Emerging Technologies have the Midas Touch for Stubbornly Analog Construction" report has been added to ResearchAndMarkets.com's offering.
  • Emerging technologies like AR, VR, AI, and 3D printing are transforming the construction sector that has been stubbornly analog for years.
  • Technological advancements are helping construction companies to take control of end-to-end project delivery remotely using 3D models, IoT, and drone technologies.
  • The report focuses on how the construction sector is leveraging emerging technologies to drive innovation and marching towards massive transformation.

Oracle Elevator Announces New Parent Company Name - Elevated Facilities Services Group

Tuesday, July 27, 2021 - 12:00pm

Oracle Elevator (Oracle) is announcing its parent company has rebranded to Elevated Facility Services Group (EFS or the Company).

Key Points: 
  • Oracle Elevator (Oracle) is announcing its parent company has rebranded to Elevated Facility Services Group (EFS or the Company).
  • As one company, EFS supports several leading regional brands in the elevator and escalator MRO sector including EMR Elevator, Oracle Elevator, Premier Elevator, and Premier Oracle Elevator, which together represent the largest independent, non-union provider of contractually based maintenance, repair, and modernization services for all major brands of elevator equipment.
  • We are proud to be able to join forces with such esteemed companies to form Elevated Facilities Services Group, said Paul Belliveau, CEO of Elevated Facility Services Group.
  • EFS supports the leading regional brands in the sector including EMR Elevator, Oracle Elevator, Premier Elevator, and Premier Oracle Elevator.

Kasada Secures Strategic Partnership With IFC to Support the Hospitality Sector in Sub-Saharan Africa

Tuesday, July 27, 2021 - 8:30am

Kasada Capital Management (Kasada), the investment platform within Kasada Group dedicated to hospitality investments in Sub-Saharan Africa, today announced that IFC will form a partnership with Kasada Hospitality Fund LP by providing senior loan financing to accelerate Kasadas strategy of building a strong and resilient hotel portfolio across sub-Saharan Africa.

Key Points: 
  • Kasada Capital Management (Kasada), the investment platform within Kasada Group dedicated to hospitality investments in Sub-Saharan Africa, today announced that IFC will form a partnership with Kasada Hospitality Fund LP by providing senior loan financing to accelerate Kasadas strategy of building a strong and resilient hotel portfolio across sub-Saharan Africa.
  • IFC will extend up to US$160 million of debt funding to Kasada, backing its plan to support the hospitality sector and instil globally recognised ESG practices in its hotels.
  • IFC has established this strategic partnership with Kasada to help build a large-scale tourism platform and support the hospitality sector as it navigates the short- and long-term economic impacts of the COVID-19 pandemic.
  • Kasada Capital Management is an independent investment platform within the Kasada group, dedicated to hospitality investments in Sub-Saharan Africa.

An Affiliate of Walton Street Capital, L.L.C. Acquires Pacifica, a 324-unit Apartment Complex Near West Palm Beach

Monday, July 26, 2021 - 9:26pm

(Walton Street) announced that it has acquired a newly built 324-unit apartment complex located at 1100 Audace Avenue in Boynton Beach, FL (Pacifica or the property).

Key Points: 
  • (Walton Street) announced that it has acquired a newly built 324-unit apartment complex located at 1100 Audace Avenue in Boynton Beach, FL (Pacifica or the property).
  • View the full release here: https://www.businesswire.com/news/home/20210726005785/en/
    Pacifica, a 324-unit apartment complex near West Palm Beach (Photo: Business Wire)
    Completed in 2020, the property consists of one-, two-, and three-bedroom apartments across six mid-rise elevator buildings that are currently 99% leased.
  • Unit finishes include 9.6 ft. ceilings, private balcony/patios, soft-close Italian cabinetry, open-concept kitchen with quartz islands and stainless-steel appliances.
  • Pacifica is situated in downtown Boynton Beach adjacent to the Town Square complex and features immediate access to I-95 making it a 40-minute drive from downtown Fort Lauderdale and a 15-minute drive to downtown West Palm Beach.