Commercial Building & Real Estate

The AZEK® Company Announces Pricing of Public Offering of Class A Common Stock

Friday, January 22, 2021 - 2:24am

The AZEK Company Inc. (NYSE: AZEK) ("AZEK") announced today the pricing of an underwritten public offering of 20,000,000 shares of its Class A common stock to be offered by certain of its selling stockholders, at a price to the public of $40.00 per share.

Key Points: 
  • The AZEK Company Inc. (NYSE: AZEK) ("AZEK") announced today the pricing of an underwritten public offering of 20,000,000 shares of its Class A common stock to be offered by certain of its selling stockholders, at a price to the public of $40.00 per share.
  • The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of Class A common stock at the public offering price, less underwriting discounts and commissions.
  • AZEK will not receive any proceeds from the sale of the shares of Class A common stock.
  • Barclays, BofA Securities, Goldman Sachs & Co. LLC and Jefferies are acting as joint lead book-running managers for the offering.

Air Around the Clock Partners With Lipof & McGee Advertising

Thursday, January 21, 2021 - 11:12pm

Air Around the Clock, South Floridas leading AC sales and service company, has officially retained Lipof & McGee Advertising as Agency of Record for the companys marketing needs.

Key Points: 
  • Air Around the Clock, South Floridas leading AC sales and service company, has officially retained Lipof & McGee Advertising as Agency of Record for the companys marketing needs.
  • Effective immediately, Lipof & McGee Advertising will handle all marketing strategy, media planning and placement, creative, digital and social media services for the AC sales and service company.
  • With the help of Lipof & McGee, we will continue to communicate this cohesive, consistent message across all platforms to continue our growth and success.
  • Lipof & McGee Advertising is the first advertising agency that Air Around the Clock will have worked with in the companys 30-year history.

Reflecting on 2020: Washington Prime Group Town Centers Demonstrate Commitment to Tenants and Community

Thursday, January 21, 2021 - 10:05pm

To date, Washington Prime Group provided $7 million in rent subsidies to small businesses through its Open for Small Business initiative.

Key Points: 
  • To date, Washington Prime Group provided $7 million in rent subsidies to small businesses through its Open for Small Business initiative.
  • To further support small businesses, Washington Prime Group teamed up with Coca-Cola for an exciting text-to-win sweepstakes over the holiday season.
  • Washington Prime Group continued to innovate during this challenging year, including with the introduction of Fulventory , the Companys last mile fulfilment initiative.
  • To emphasize community pride, Washington Prime Group enlisted the help of local artists to install approximately 50 murals at town centers across the country.

KBRA Releases Research – CRE Securitization: LIBOR to SOFR Path Paved but Curves Lie Ahead

Thursday, January 21, 2021 - 9:38pm

Kroll Bond Rating Agency (KBRA) releases research on the commercial real estate (CRE) securitization industry ahead of the switchover to the Secured Overnight Finance Rate (SOFR) benchmark from LIBOR.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases research on the commercial real estate (CRE) securitization industry ahead of the switchover to the Secured Overnight Finance Rate (SOFR) benchmark from LIBOR.
  • In 2020, while the COVID-19 pandemic dominated the headlines and captured the attention of the financial markets, the cessation of the London Interbank Offered Rate (LIBOR) loomed closer for the CRE securitization industry.
  • Against this backdrop, KBRA provides an update to its CRE Securitization: Transitioning Away From LIBOR report published in January 2020.
  • In this publication, we will cover what has transpired with LIBOR since last year provide an assessment on the state of CRE securitization market and recap the risks and exposures across the different CRE securitizations segments.

National Storage Affiliates Trust Announces Tax Treatment of 2020 Distributions

Thursday, January 21, 2021 - 9:19pm

NSA recommends its shareholders consult their individual tax advisors should there be any related questions regarding the above tables.

Key Points: 
  • NSA recommends its shareholders consult their individual tax advisors should there be any related questions regarding the above tables.
  • National Storage Affiliates Trust is a real estate investment trust headquartered in Denver, Colorado, focused on the ownership, operation and acquisition of self storage properties located within the top 100 metropolitan statistical areas throughout the United States.
  • As of September 30, 2020, the Company held ownership interests in and operated 788 self storage properties located in 35 states and Puerto Rico with approximately 49.5 million rentable square feet.
  • NSA is one of the largest owners and operators of self storage properties among public and private companies in the United States.

Columbia Property Trust Invests in Air Purification Technology Across Portfolio

Thursday, January 21, 2021 - 9:15pm

Columbia Property Trust, Inc. (NYSE: CXP) announced today that it is installing new bipolar ionization (BPI) air purification technology in properties across its portfolio to enhance overall indoor environment quality for building occupants.

Key Points: 
  • Columbia Property Trust, Inc. (NYSE: CXP) announced today that it is installing new bipolar ionization (BPI) air purification technology in properties across its portfolio to enhance overall indoor environment quality for building occupants.
  • View the full release here: https://www.businesswire.com/news/home/20210121005822/en/
    Bipolar ionization (BPI) air purification technology is being installed in the air handling units and elevator system at 221 Main Street, a 381,000-square-foot office building in San Franciscos South Financial District.
  • Bipolar ionization technology safely provides continuous active disinfection in the air and on surfaces.
  • Columbia Property Trust (NYSE: CXP) creates value through owning, operating, and developing Class-A office buildings in New York, San Francisco, Washington D.C., and Boston.

Empire State Realty Trust Announces Dates for Fourth Quarter 2020 Earnings Release and Conference Call

Thursday, January 21, 2021 - 9:15pm

The playback can be accessed through February 25, 2021

Key Points: 
  • The playback can be accessed through February 25, 2021
    Empire State Realty Trust, Inc. (NYSE: ESRT) owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the World's Most Famous Building.
  • Empire State Realty Trust is a leader in energy efficiency in the built environment and sustainability, with 76 percent of the eligible portfolio ENERGY STAR certified.
  • To learn more about Empire State Realty Trust, visit empirestaterealtytrust.com and follow ESRT on Facebook , Instagram , Twitter and LinkedIn .
  • View source version on businesswire.com: https://www.businesswire.com/news/home/20210121005792/en/

Orion Group Holdings, Inc. Announces Contract Awards of Approximately $27 Million

Thursday, January 21, 2021 - 9:05pm

Orion Group Holdings, Inc. (NYSE: ORN) (the "Company") a leading specialty construction company, today announced contract awards totaling approximately $27 million.

Key Points: 
  • Orion Group Holdings, Inc. (NYSE: ORN) (the "Company") a leading specialty construction company, today announced contract awards totaling approximately $27 million.
  • In the Central Texas region, the Company has been awarded an $11.6 million contract to construct a large tilt-wall distribution center.
  • Work on all these projects will commence in the late first quarter to early second quarter of 2021 and be completed before year end.
  • Our Concrete team has started the year strong, with multiple awards across our markets, said Mark Stauffer, Orions President and Chief Executive Officer.

Kimco Realty Corporation Announces 2020 Dividend Tax Treatment

Thursday, January 21, 2021 - 9:10pm

As of September 30, 2020, the company owned interests in 400 U.S. shopping centers and mixed-use assets comprising 70 million square feet of leasable space primarily concentrated in the top major metropolitan markets.

Key Points: 
  • As of September 30, 2020, the company owned interests in 400 U.S. shopping centers and mixed-use assets comprising 70 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
  • For further information, please visit www.kimcorealty.com , the companys blog at blog.kimcorealty.com , or follow Kimco on Twitter at www.twitter.com/kimcorealty .
  • The company announces material information to its investors using the companys investor relations website ( investors.kimcorealty.com ), SEC filings, press releases, public conference calls, and webcasts.
  • It is important to note that the companys actual results could differ materially from those projected in such forward-looking statements.