Residential Building & Real Estate

Armstrong Flooring to Address Attendees at the Jefferies Virtual Industrials Conference

Monday, August 3, 2020 - 12:00pm

Armstrong Flooring (NYSE: AFI) (the Company), a leader in the design and manufacture of innovative flooring solutions, today announced that Michel Vermette, President & CEO, and Gregory D. Waina, Interim CFO, will address attendees at the Jefferies Virtual Industrials Conference on Wednesday, August 5, 2020 at 1:50 p.m. Eastern Time.

Key Points: 
  • Armstrong Flooring (NYSE: AFI) (the Company), a leader in the design and manufacture of innovative flooring solutions, today announced that Michel Vermette, President & CEO, and Gregory D. Waina, Interim CFO, will address attendees at the Jefferies Virtual Industrials Conference on Wednesday, August 5, 2020 at 1:50 p.m. Eastern Time.
  • A live audio webcast will be available at the time of the event and may be accessed through the Investors section of Armstrong Floorings website at www.armstrongflooring.com .
  • Armstrong Flooring, Inc. (NYSE: AFI) is a global leader in the design and manufacture of innovative flooring solutions that inspire beauty wherever your life happens.
  • Headquartered in Lancaster, Pennsylvania, Armstrong Flooring is a leading manufacturer of resilient products across North America.

Housing Justice Movement Takes on the Barons of Real Estate

Saturday, August 1, 2020 - 1:48am

The billionaire-funded committees include Californians for Responsible Housing, Californians for Affordable Housing, Californians to Protect Affordable Housing, and Californians for Responsible Housing - General Purpose Committee.

Key Points: 
  • The billionaire-funded committees include Californians for Responsible Housing, Californians for Affordable Housing, Californians to Protect Affordable Housing, and Californians for Responsible Housing - General Purpose Committee.
  • The average campaign contribution for Californians for Responsible Housing sponsored by the California Apartment Association is $76,098.
  • Prop 21 has the endorsement of an ever-expanding list of federal and state elected officials, local city councils, and social, housing, and racial justice organizations to support the fight for housing justice in California.
  • "The fight for housing justice will take an army of supporters who believe that all Californians deserve access to stable and affordable housing," said Ren Christian Moya, campaign director for the YesOn21 Campaign.

ESM Management, LLC/Newton Opportunity Fund Announces Extension of Expiration Time for Tender Offer for Certain Notes of MASTR Adjustable Rate Mortgages Trust 2007-3

Friday, July 31, 2020 - 10:00pm

The terms and conditions of the Offers are described in an offer to purchase, dated June 23, 2020 (the Offer to Purchase).

Key Points: 
  • The terms and conditions of the Offers are described in an offer to purchase, dated June 23, 2020 (the Offer to Purchase).
  • Holders of Notes who previously tendered their Notes do not need to retender such Notes or take any other action in response to this announcement in order to receive the applicable tender offer consideration.
  • Except as described in this press release, all terms and conditions of the Offers as described in the Offer to Purchase remain unchanged.
  • Newton Opportunity Fund may, in its sole discretion, terminate, extend or amend the Offers at any time as described in the Offer to Purchase.

United Rentals Announces Full Redemption of 6.500% Senior Notes due 2026

Friday, July 31, 2020 - 9:24pm

United Rentals, Inc. (NYSE: URI) today announced that its subsidiary, United Rentals (North America), Inc. (URNA), has given notice of its intention to redeem all of the outstanding $1.1 billion principal amount of its 6.500% Senior Notes due 2026 (CUSIP Number 911365 BK9) (the Notes) on August 10, 2020 (the Redemption Date).

Key Points: 
  • United Rentals, Inc. (NYSE: URI) today announced that its subsidiary, United Rentals (North America), Inc. (URNA), has given notice of its intention to redeem all of the outstanding $1.1 billion principal amount of its 6.500% Senior Notes due 2026 (CUSIP Number 911365 BK9) (the Notes) on August 10, 2020 (the Redemption Date).
  • The Notes will be redeemed at a redemption price (the Redemption Price) currently estimated to be 111.101% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the Redemption Date.
  • URNA has instructed Wells Fargo Bank, National Association, as the trustee for the Notes (the Trustee), to distribute a notice of redemption to all registered holders of the Notes on July 31, 2020.
  • Copies of such Notice of Redemption and additional information relating to the procedure for redemption of the Notes may be obtained from Wells Fargo Bank, National Association by calling 1-800-344-5128.

United Rentals Announces Pricing of Offering of $1.1 Billion of 3.875% Senior Notes due 2031

Friday, July 31, 2020 - 9:12pm

United Rentals, Inc. (NYSE: URI) (URI) today announced that its subsidiary, United Rentals (North America), Inc. (URNA), has priced an offering of $1.1 billion principal amount of 3.875% Senior Notes due 2031 (the Notes) in a registered public offering.

Key Points: 
  • United Rentals, Inc. (NYSE: URI) (URI) today announced that its subsidiary, United Rentals (North America), Inc. (URNA), has priced an offering of $1.1 billion principal amount of 3.875% Senior Notes due 2031 (the Notes) in a registered public offering.
  • URNAs obligations under the Notes will be guaranteed on a senior unsecured basis by URI and certain of URNAs domestic subsidiaries.
  • Aggregate net proceeds from the sale of the Notes are expected to be approximately $1.087 billion after underwriting discounts and commissions and payments of estimated fees and expenses.
  • United Rentals is a member of the Standard & Poors 500 Index, the Barrons 400 Index and the Russell 3000 Index and is headquartered in Stamford, Conn. Additional information about United Rentals is available at unitedrentals.com.

The Toro Company and The Hoffman Family Foundation Announce Gift to the University of St. Thomas in Honor of Kendrick B. Melrose

Friday, July 31, 2020 - 3:00pm

Melrose, who preceded Hoffman as TTCs chairman and CEO, successfully led the company for nearly 25 years until retiring in 2006.

Key Points: 
  • Melrose, who preceded Hoffman as TTCs chairman and CEO, successfully led the company for nearly 25 years until retiring in 2006.
  • This gift will establish the Melrose & The Toro Company Center for Principled Leadership at the Opus College of Business and includes a $2 million donation by The Toro Foundation, along with a $1 million donation from the Hoffmans.
  • This cause was important to Melrose, who championed the concept through Leading by Serving, LLC, an organization he founded in 2006.
  • Ken Melrose was an extraordinary person and a very important figure in our companys history, said Richard Olson, current chairman and CEO of The Toro Company.

Gateway Opens New Mortgage Center in Utah

Friday, July 31, 2020 - 2:01pm

Gateway Mortgage Group, a division of Gateway First Bank, announced it has opened a new mortgage center in Utah to meet increased demand from local communities for home financing.

Key Points: 
  • Gateway Mortgage Group, a division of Gateway First Bank, announced it has opened a new mortgage center in Utah to meet increased demand from local communities for home financing.
  • Gateway also has mortgage centers in Farmington, Orem and West Jordan.
  • Gateway is excited to expand our mark in Utah, and we look forward to having a physical location to help service the growth of Utah County and its surrounding areas, said Gregg Driggs, Mortgage Sales Manager.
  • Gateway continues to grow and expand its footprint to meet the increasing demand for mortgage services, said Scott Gesell, CEO of Gateway.

Wells Fargo Foundation Grants $1.5 Million to Funders for Housing and Opportunity

Friday, July 31, 2020 - 2:05pm

Wells Fargo & Company (NYSE: WFC) today announced a $1.5 million contribution by the Wells Fargo Foundation in support of the Funders for Housing and Opportunity (FHO) collaborative focused on advancing housing affordability solutions and relief for renter households and homeless people disproportionately affected by the economic downturn as a result of COVID-19.

Key Points: 
  • Wells Fargo & Company (NYSE: WFC) today announced a $1.5 million contribution by the Wells Fargo Foundation in support of the Funders for Housing and Opportunity (FHO) collaborative focused on advancing housing affordability solutions and relief for renter households and homeless people disproportionately affected by the economic downturn as a result of COVID-19.
  • Having a safe and affordable place to call home is essential to help lay the foundation for wellness, dignity, and economic opportunity, said Eileen Fitzgerald, head of housing affordability philanthropy with the Wells Fargo Foundation.
  • Funders for Housing and Opportunity welcomes the Wells Fargo Foundation as its first financial services-related member and applauds its generous philanthropic support and commitments to address the critical need for more housing affordability solutions for our nations most vulnerable people, said Jeanne Fekade-Sellassie, project director for Funders for Housing and Opportunity.
  • In 2019, Wells Fargo donated more than $455 million in grants to nonprofits organizations across the U.S. to increase access to housing, jobs, and financial health.

Spirit Realty Capital, Inc. Announces Second Quarter of 2020 Financial and Operating Results

Friday, July 31, 2020 - 1:42pm

Spirit Realty Capital, Inc. (NYSE: SRC) ("Spirit" or the "Company"), a net-lease real estate investment trust ("REIT") that invests in single-tenant, operationally essential real estate, today reported its financial and operating results for the second quarter ended June 30, 2020.

Key Points: 
  • Spirit Realty Capital, Inc. (NYSE: SRC) ("Spirit" or the "Company"), a net-lease real estate investment trust ("REIT") that invests in single-tenant, operationally essential real estate, today reported its financial and operating results for the second quarter ended June 30, 2020.
  • Collected 75.0% of second quarter 2020 Base Rent of $117.4 million and 84.8% of July 2020 Base Rent of $39.3 million as of July 27, 2020.
  • The Company's second quarter 2020 earnings conference call is scheduled for Friday, July 31, 2020 at 9:30am Eastern Time.
  • These non-GAAP financial measures should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures.

United Rentals Announces Proposed Offering of $1.1 Billion of Senior Notes Due 2031

Friday, July 31, 2020 - 1:27pm

United Rentals, Inc. (NYSE: URI) (URI) today announced that its subsidiary, United Rentals (North America), Inc. (URNA), is offering $1.1 billion principal amount of Senior Notes due 2031 (the Notes) in a registered public offering.

Key Points: 
  • United Rentals, Inc. (NYSE: URI) (URI) today announced that its subsidiary, United Rentals (North America), Inc. (URNA), is offering $1.1 billion principal amount of Senior Notes due 2031 (the Notes) in a registered public offering.
  • URNAs obligations under the Notes will be guaranteed on a senior unsecured basis by URI and certain of URNAs domestic subsidiaries.
  • Aggregate net proceeds from the sale of the Notes are expected to be approximately $1,087 million after underwriting discounts and commissions and payments of estimated fees and expenses.
  • United Rentals is a member of the Standard & Poors 500 Index, the Barrons 400 Index and the Russell 3000 Index and is headquartered in Stamford, Conn. Additional information about United Rentals is available at unitedrentals.com.