Tenant

Turnbridge Equities Acquires 2.5-acre Industrial Outdoor Storage (IOS) Site in Brooklyn, New York

Retrieved on: 
Wednesday, March 6, 2024
Commercial Building & Real Estate, Construction & Property, REIT, Acquisition, IOS, Stock, Belt Parkway, Growth, Tennis, Tenant, Match

Turnbridge Equities (Turnbridge), a vertically integrated real estate investment and development firm, announced the acquisition of 2300 East 69th Street Avenue in Brooklyn, NY, for $16.6 million.

Key Points: 
  • Turnbridge Equities (Turnbridge), a vertically integrated real estate investment and development firm, announced the acquisition of 2300 East 69th Street Avenue in Brooklyn, NY, for $16.6 million.
  • The 2.52-acre property, which includes an 11,000 square foot building, is slated for industrial outdoor storage (IOS) use and will be the third New York City IOS property that Turnbridge has acquired in the last year for its urban-infill IOS portfolio.
  • The property is adjacent to 2350 East 69th Street, a 1.4-acre property that Turnbridge acquired in January 2024 for $8.85 million, bringing the assemblage to nearly four acres.
  • In addition, both markets enjoy multiple demand drivers outside of ecommerce, such as media studios, municipal services, laydown yards, container storage, and renewable energy production and energy storage.

AHF Protests USPS Refusal to Deliver SRO Tenants’ Mail

Retrieved on: 
Tuesday, March 5, 2024
Legal, Advocacy Group Opinion, Public Policy, Government, Professional Services, AIDS, White House, Federal Government, Health, State, Local, HHR, AIDS Healthcare Foundation, USPS, HHF, Skid row, AHF, Housing, The Postal Service, Tenant, Homelessness, Human, Louis DeJoy, SRO

AHF complied with the law and installed USPS-approved mailboxes for all the tenants at the SRO buildings that AHF owns and operates.

Key Points: 
  • AHF complied with the law and installed USPS-approved mailboxes for all the tenants at the SRO buildings that AHF owns and operates.
  • For several years and on many occasions, AHF informally asked the USPS to deliver mail properly to its Skid Row properties and even filed a formal administrative claim with the USPS to get a change in delivery to no avail.
  • In 2017, under its Healthy Housing Foundation division, AHF began purchasing and repurposing SRO hotels to address the escalating homelessness and affordable housing crises.
  • Today, AHF provides more that 1,400 SRO housing units as primary and permanent residences to low-income tenants in 13 multi-unit SRO buildings across Greater Los Angeles.

Global Daylight Market Outlook & Forecasts 2023-2028: Rising Installation of Roof Lights for Commercial Spaces and Growing Sustainable and Green Buildings Presents Burgeoning Opportunities - ResearchAndMarkets.com

Retrieved on: 
Tuesday, March 5, 2024
Utilities, Environment, Residential Building & Real Estate, Sustainability, Commercial Building & Real Estate, Energy, Construction & Property, Hospital, Investment, Marketing, Growth, B2B, Direct, Tenant, Carbon, VELUX, Supermarket, MEA, Electricity, Hospitality, Housing, DTC, Renewable energy

Some of the major vendors dominating the global daylight market include Velux, Brett Martin, and Lamilux Heinrich Strunz Holding.

Key Points: 
  • Some of the major vendors dominating the global daylight market include Velux, Brett Martin, and Lamilux Heinrich Strunz Holding.
  • The global daylight market is primarily stimulated by installing new daylight systems in new construction projects and replacing existing ones.
  • The growing focus on sustainable and green building practices is a significant driver of the global daylight market.
  • Replacement Installation Segment: The replacement installation segment held the largest share of the global daylight market in 2022.

Millennial Specialty Insurance, LLC Announces Launch of its Multifamily Insurance Solutions into Canadian Market with Distribution Through Summit Commercial Solutions

Retrieved on: 
Tuesday, March 5, 2024
Insurance, Professional Services, MSI, Tenant, Entrepreneurship, BRP, Partner (business rank)

Leveraging a best-in-class technology platform, MSI provides simplified and streamlined rental insurance solutions, insuring more than one million residential rental units in the United States.

Key Points: 
  • Leveraging a best-in-class technology platform, MSI provides simplified and streamlined rental insurance solutions, insuring more than one million residential rental units in the United States.
  • “This is a significant milestone for MSI as we expand our operations internationally,” said Adam Falkauff, President, Multifamily Group at MSI.
  • “The demand for a more comprehensive, technology-focused, renters insurance solutions has become increasingly necessary in the Canadian residential rental market.
  • We look forward to being at the forefront of this venture.”
    Summit is a full-service Canadian commercial property & casualty insurance brokerage, serving more than 90% of Canada’s English-speaking population.

Modiv Industrial Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Monday, March 4, 2024
REIT, Manufacturing, Other Manufacturing, Commercial Building & Real Estate, Construction & Property, CHIPS, Ethos, Air force, YTD, Sale, Tenant, Webcast, Organization, Concussion, Kodak, NFL, Social media, LINK, NBA, CHIPS and Science Act, Pain, Electronics, Pharmacy, Emergency service, Infinite, Motivation, MDV, Nose, Calf, Balance sheet, UFC, Partnership, Life, Fed, Creativity, MLB, Human, Internet, AI, Poultry, Quality of life, Greed, PPV, Thought, Mechanics, Government, Federal Reserve, Risk, Industrial, Real estate investment trust, Painting, Knee, Crutch, Travel, Real estate

Modiv Industrial, Inc. (“Modiv Industrial”, “Modiv”, the “Company”, “we” or “our”) (NYSE:MDV), the only public REIT exclusively focused on acquiring industrial manufacturing real estate, today announced operating results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • Modiv Industrial, Inc. (“Modiv Industrial”, “Modiv”, the “Company”, “we” or “our”) (NYSE:MDV), the only public REIT exclusively focused on acquiring industrial manufacturing real estate, today announced operating results for the fourth quarter and full year ended December 31, 2023.
  • Fourth quarter revenue of $12.3 million increased $2.3 million year-over-year, or 23%, excluding the 2022 lease termination fee.
  • Fourth quarter AFFO of $4.5 million, or $0.40 per diluted share, exceeding street expectations by $0.05 per share.
  • January 31, 2024, completed the stock distribution of Generation Income Properties, Inc. (NASDAQ: GIPR), common stock to the stockholders of Modiv Industrial.

INDUS Realty Trust Announces 1.5 Million Square Feet of New Industrial Development Projects in Atlanta and Savannah

Retrieved on: 
Thursday, February 29, 2024
Commercial Building & Real Estate, Construction & Property, Finance, Banking, REIT, Professional Services, Building Systems, Architecture, Other Construction & Property, Acquisition, GIC, Veterans Highway, Crossings, I-16, Tenant, Centerbridge Partners, Scannell, Farm, Development

The Atlanta development (“Chastain Crossings”), located in Kennesaw, Georgia, broke ground in December 2023 and will include two buildings totaling approximately 440,000 square feet.

Key Points: 
  • The Atlanta development (“Chastain Crossings”), located in Kennesaw, Georgia, broke ground in December 2023 and will include two buildings totaling approximately 440,000 square feet.
  • The Savannah, GA development (“Rockingham Farms Commerce Center”), is expected to break ground in the first quarter of 2024 and will include two phases totaling four buildings and 1.0 million square feet.
  • “Chastain Crossings and Rockingham Farms Commerce Center present exciting opportunities for INDUS to enter two of the best performing and most dynamic industrial markets in the Southeast.
  • Rockingham Farms Commerce Center will total 1.0 million square feet across four buildings to be built in two phases.

Orion Office REIT Inc. Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Tuesday, February 27, 2024
Commercial Building & Real Estate, Construction & Property, REIT, Exercise, Tenant, Government, Orion, Investment, Self storage

During the fourth quarter of 2023, the Company closed on four dispositions, representing a total of approximately 575,000 square feet, for an aggregate sales price of approximately $11.4 million.

Key Points: 
  • During the fourth quarter of 2023, the Company closed on four dispositions, representing a total of approximately 575,000 square feet, for an aggregate sales price of approximately $11.4 million.
  • For the full year 2023, the Company closed on six dispositions, representing a total of approximately 849,000 square feet for an aggregate sales price of approximately $25.4 million.
  • At year end, the Unconsolidated Joint Venture owned six real estate assets for total Gross Real Estate Investments of approximately $227.7 million.
  • Based on current economic conditions and the Company’s financial condition, Orion is providing the following guidance estimates for fiscal year 2024:

CoreView Helps Marcegaglia Seamlessly Manage Post-M&A Technology

Retrieved on: 
Tuesday, February 27, 2024
Software, Networks, Steel, Data Management, Technology, Manufacturing, Other Technology, Security, Acquisition, Partnership, Tenant, Microsoft, Corporation, Organization, Confusion, Communication

Marcegaglia and CoreView successfully migrated the users, saving three days and enabling Marcegaglia’s IT team to work more efficiently, eliminating delays and routing issues.

Key Points: 
  • Marcegaglia and CoreView successfully migrated the users, saving three days and enabling Marcegaglia’s IT team to work more efficiently, eliminating delays and routing issues.
  • Marcegaglia + CoreView Case Study: Marcegaglia streamlines migration of users after M&A with the help of CoreView
    Marcegaglia is an Italian corporation founded in 1959 by Steno Marcegaglia.
  • Careful migration and consolidation of user accounts were required to seamlessly transition all employees to Marcegaglia systems.
  • With CoreView, Marcegaglia could migrate and consolidate user accounts to transition all employees to the Marcegaglia IT systems.

Easterly Government Properties Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Tuesday, February 27, 2024
Other Construction & Property, Commercial Building & Real Estate, Construction & Property, REIT, CBP, JUD, Radiology, Sale, Tenant, Unitary state, LEED, Transport, GSA, Jules Kroll, Employment Development Department, District court, Veteran, Water, Partnership, BBB, DHS, Retirement, ESG, City, Trust, GHG, Acquisition, Government agency, Quarter, Pathology, FDA, Food, DEA, District Courthouse, Government, Lead, Greenhouse gas, TSA, Executive, Security (finance)

Easterly Government Properties, Inc. (NYSE: DEA) (the “Company” or “Easterly”), a fully integrated real estate investment trust (“REIT”) focused primarily on the acquisition, development and management of Class A commercial properties leased to the U.S. Government, today announced its results of operations for the quarter and full year ended December 31, 2023.

Key Points: 
  • Easterly Government Properties, Inc. (NYSE: DEA) (the “Company” or “Easterly”), a fully integrated real estate investment trust (“REIT”) focused primarily on the acquisition, development and management of Class A commercial properties leased to the U.S. Government, today announced its results of operations for the quarter and full year ended December 31, 2023.
  • In addition, the Company wholly owned one property under re-development that the Company expects will encompass approximately 0.2 million rentable square feet upon completion.
  • As of December 31, 2023, the portfolio had a weighted average age of 14.6 years, based upon the date properties were built or renovated-to-suit, and had a weighted average remaining lease term of 10.5 years.
  • On February 21, 2024, the Board of Directors of Easterly approved a cash dividend for the fourth quarter of 2023 in the amount of $0.265 per common share.

Global Medical REIT Announces Fourth Quarter and Year-End 2023 Financial Results

Retrieved on: 
Tuesday, February 27, 2024
Commercial Building & Real Estate, Construction & Property, Finance, General Health, Health, Professional Services, REIT, Other Health, Acquisition, FFO, CMBS, Medicine, Meeting, ATM, Tenant, Webcast, Music

Global Medical REIT Inc. (NYSE: GMRE) (the “Company” or “GMRE”), a net-lease medical office real estate investment trust (REIT) that acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems, today announced financial results for the three and twelve months ended December 31, 2023 and other data.

Key Points: 
  • Global Medical REIT Inc. (NYSE: GMRE) (the “Company” or “GMRE”), a net-lease medical office real estate investment trust (REIT) that acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems, today announced financial results for the three and twelve months ended December 31, 2023 and other data.
  • I am appreciative of the team’s hard work and contributions that led to our success in 2023.
  • Interest expense for the fourth quarter was $7.0 million, compared to $8.1 million for the comparable prior year period.
  • Dial in at least five minutes prior to start time and reference Global Medical REIT Inc.