Sun Belt

Redfin Reports Asking Rents Flattened in September Amid Growing Apartment Supply

Retrieved on: 
Thursday, October 5, 2023
Residential Building & Real Estate, Construction & Property, Urban Planning, News, Growth, City, Housing, Renting, Real estate, Lease, Redfin, Sun Belt

“There are still a lot of apartments under construction that will continue to hit the market, which should keep rents from increasing much in the near-to-medium term.

Key Points: 
  • “There are still a lot of apartments under construction that will continue to hit the market, which should keep rents from increasing much in the near-to-medium term.
  • Rents Rise in the Midwest, Fall in the West
    In the Midwest, the median asking rent rose 5% year over year to a record $1,436.
  • Asking rents fell 1.6% to $2,413 in the West and declined 0.3% to $1,653 in the South.
  • Apartment construction in the Sun Belt has also been especially robust, contributing to the cooldown in rents.

Värde Partners and Freehold Capital Management Form Partnership to Acquire Master-Planned Communities

Retrieved on: 
Tuesday, October 3, 2023
Growth, Partnership, Housing, Sun Belt, Senior, Acquisition, Ocean Club, Management

BOSTON and MINNEAPOLIS, Oct. 3, 2023 /PRNewswire/ -- Freehold Capital Management, a prominent developer of master-planned communities and build-to-rent neighborhoods, and Värde Partners, a leading global alternative investment firm, announced the formation of a partnership to acquire two expansive master-planned communities: Savannah Quarters in Pooler, Georgia, and Grande Dunes in Myrtle Beach, South Carolina.

Key Points: 
  • Under Värde and Freehold Capital Management's ownership, Savannah Quarters and Grande Dunes will continue to actively develop new neighborhoods, with additional lots expected to be available in the near term.
  • "We are excited about our partnership with Värde Partners and the acquisition of Savannah Quarters and Grande Dunes.
  • We look forward to continuing to seek opportunities together and drive success in the world of master-planned communities and real estate development," Casey Tischer, Principal at Freehold Capital Management.
  • Värde has 30 years of experience in U.S. residential land development and homebuilding, and we welcome the collaboration with Freehold Capital Management to expand on the vision and reputation of these desirable communities," said Brendan Bosman, Senior Managing Director at Värde Partners.

EastGroup Properties Announces Third Quarter 2023 Earnings Conference Call and Webcast

Retrieved on: 
Tuesday, October 3, 2023
EGP, Telephone, Multimedia, Russell 1000 Index, Sun Belt, Acquisition, Russell, CFO, Growth, Transport, Conference, NYSE, Video game, Webcast

JACKSON, Miss., Oct. 3, 2023 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company" or "EastGroup") announced today that it will hold its Third Quarter Earnings Conference Call and Webcast on Wednesday, October 25, 2023, at 11:00 a.m. Eastern Time.

Key Points: 
  • JACKSON, Miss., Oct. 3, 2023 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company" or "EastGroup") announced today that it will hold its Third Quarter Earnings Conference Call and Webcast on Wednesday, October 25, 2023, at 11:00 a.m. Eastern Time.
  • On the call, Marshall Loeb, CEO, and Brent Wood, CFO, will discuss the Company's third quarter results, current operations, and earnings outlook for 2023.
  • EastGroup plans to release financial results for the quarter after the market closes on October 24, 2023.
  • A live broadcast of the conference call is available by dialing 1-888-346-0688 (conference ID EastGroup) or by webcast through a link on the Company's website at www.eastgroup.net .

Regent Properties Launches $500 Million Credit Platform

Retrieved on: 
Monday, October 2, 2023
Commercial Building & Real Estate, Construction & Property, REIT, Growth, CIO, CRE, Acquisition, Investment, Commercial property, Sun Belt

Regent Properties, a vertically integrated real estate investment management and development firm, today announced the launch of a credit platform which aims to offer an innovative capital solution building upon the firm’s already deep expertise across the commercial real estate sector.

Key Points: 
  • Regent Properties, a vertically integrated real estate investment management and development firm, today announced the launch of a credit platform which aims to offer an innovative capital solution building upon the firm’s already deep expertise across the commercial real estate sector.
  • “This move into credit is a natural extension of Regent’s commercial real estate investment and development strategies,” said Eric Fleiss, CEO of Regent Properties.
  • We expect our first several credit transactions to close over the next several quarters.”
    Regent’s new credit platform will execute on senior secured debt, mezzanine debt, and preferred equity investments primarily secured by residential, office, and retail properties.
  • Regent intends to provide liquidity to CRE sectors that are significantly underserved,” said Sam Kraus, CIO at Regent Properties.

France Power Rental Market Assessment & Forecasts Report 2023-2029 Featuring Prominent Vendors - United Rentals, Sunbelt Rentals, Aggreko, Loxam, Caterpillar, Atlas Copco, & KOHLER - ResearchAndMarkets.com

Retrieved on: 
Thursday, September 28, 2023
Other Energy, Energy, Construction, Semiconductor, Importance, GL, Electricity, Grand Paris Express, Paris Organising Committee for the 2024 Olympic and Paralympic Games, Temperature, USD, OVHcloud, Sale, Government, Wind, Sun Belt, Nuclear energy, Paralympic Games, Biofuel, Atlas Copco, Transport, Robotics, Ministry of National Investment Plan (Serbia), Void coefficient, SME, Farm, Renewable energy, Arnold Loxam, Caterpillar

The France power rental market is expected to at a CAGR of 4.76% from 2022 to 2029.

Key Points: 
  • The France power rental market is expected to at a CAGR of 4.76% from 2022 to 2029.
  • Uncertainty in the electric power supply in 2022 had driven the sale and rentals of generators in the France power rental market.
  • Ongoing Energy Transition and the Importance of Temporary Power at Construction Sites to Provide Lucrative Opportunities to France Power Rental Market.
  • The key players in the France power rental market are Loxam, Sunbelt, United Rentals, Aggreko, Atlas Copco, Caterpillar, and Kohler Power.

Black Rock Coffee Bar Expands Presence in Arizona with Grand Opening of New Gilbert Location

Retrieved on: 
Wednesday, September 27, 2023
Heart, Inc., Black, Sun Belt, Fastest, Work, Coffee, Privately held company, Environment, Nightclub, Pacific Northwest

Portland, Oregon, Sept. 27, 2023 (GLOBE NEWSWIRE) -- Black Rock Coffee Bar is excited to introduce its latest boutique coffee bar in Gilbert, Arizona, adding to the growing list of 35 locations across the state and marking the 31st store in the greater Phoenix metro area.

Key Points: 
  • Portland, Oregon, Sept. 27, 2023 (GLOBE NEWSWIRE) -- Black Rock Coffee Bar is excited to introduce its latest boutique coffee bar in Gilbert, Arizona, adding to the growing list of 35 locations across the state and marking the 31st store in the greater Phoenix metro area.
  • “This expansion perfectly resonates with the heart of our brand’s three principles – coffee, community and connection,” said Mark Davis, CEO Black Rock Coffee Bar.
  • The new 2000-square-foot Black Rock Coffee Bar store showcases the boutique coffee chains’ signature industrial modern design.
  • In 2023, Black Rock Coffee Bar ranked 1179th among America’s Fastest-Growing Private Companies by Inc. Magazine’s 5000 Annual List.

SOVEREIGN PROPERTIES AND INVEST CAPITAL GROUP ANNOUNCE THE GRAND OPENING OF THE CLASS A 360-UNIT ATLANTICA AT TOWN CENTER

Retrieved on: 
Wednesday, September 27, 2023
Television, Investment, Orlando International Airport, Daytona, Battle of the Alamo, Patio, Universal Pictures, Town Center, Coffee, Walt Disney World, Balcony, Interstate 4, Transport, Interstate Highway System, Capital Group Companies, Rare-earth element, Hotel, Amusement park, Security (finance), Davenport, Atlantica, Sun Belt

DAVENPORT, Fla., Sept. 27, 2023 /PRNewswire/ -- Sovereign Properties and Invest Capital Group have announced the grand opening of Atlantica at Town Center, the first phase of its two-phased development. They are hosting a ribbon cutting event on September 28th at the property to celebrate the completion of its first phase.

Key Points: 
  • Sovereign Properties and Invest Capital Group carefully designed and selected all of the amenities and finishes so that the families living there feel like they can call Atlantica at Town Center home," David Amiel, Investment Manager of Invest Capital Group.
  • Atlantica at Town Center contracted the Davenport land in 2018 when there was little development in the area.
  • "Sovereign and Invest Capital Group, have been able to deploy capital and start new construction deals in a very challenging time," Clarke said.
  • She noted that even as multifamily construction has slowed, Sovereign and Invest Capital continue focusing on developments and unit delivery.

Blaze Capital Partners Acquires 99 Unit Townhome Rental Community in Charleston, S.C.

Retrieved on: 
Monday, September 18, 2023
Travel + Leisure, Partnership, Housing, Volvo, JV, Dislocation, Recreation, Acquisition, Sun Belt, Growth, Travel, Relaxation, Retreat, Commercial property, Amusement park, Tourism, Boeing, Blaze, South Carolina Lowcountry, I-26

CHARLESTON, S.C., Sept. 18, 2023 /PRNewswire/ -- Blaze Capital Partners ("Blaze") and joint venture partner Cross Lake Partners today announce the acquisition of The Retreat at Carlile, a 99-unit, Class-A townhome rental community in Summerville, South Carolina, a fast growing submarket just outside of Charleston.

Key Points: 
  • CHARLESTON, S.C., Sept. 18, 2023 /PRNewswire/ -- Blaze Capital Partners ("Blaze") and joint venture partner Cross Lake Partners today announce the acquisition of The Retreat at Carlile, a 99-unit, Class-A townhome rental community in Summerville, South Carolina, a fast growing submarket just outside of Charleston.
  • The Retreat at Carlile provides an underrepresented rental townhome option to the Charleston market and as demand for this type of product intensifies, we're pleased to add this community to our expanding portfolio."
  • Last October, Blaze and Cross Lake Partners sold Chamberlain Pines, a 132-unit townhome rental community in Summerville developed and sold by the JV partnership.
  • Blaze expects to deploy capital opportunistically throughout the remainder of the year as the firm seeks to find attractive long-term plays amidst significant capital market volatility and dislocation.

Public Storage Announces Closing of Simply Self Storage Acquisition

Retrieved on: 
Wednesday, September 13, 2023
Commercial Building & Real Estate, Construction & Property, REIT, BMO Capital Markets, LLP, Partnership, PS, SMBC, Wachtell, Lipton, Rosen & Katz, PSA, Simply Self Storage, Newmark Group, Storage, Public Storage, Sale, Blackstone, Simpson Thacher & Bartlett, FFO, Sun Belt, Acquisition, Growth, Sumitomo Mitsui Banking Corporation, Wells Fargo, NYSE, Population growth, Sales, Financial adviser, Simply

Public Storage (NYSE:PSA) (the “Company”) announced today that it has completed the previously announced acquisition of Simply Self Storage (“Simply”) from Blackstone Real Estate Income Trust, Inc. (“BREIT”) for $2.2 billion.

Key Points: 
  • Public Storage (NYSE:PSA) (the “Company”) announced today that it has completed the previously announced acquisition of Simply Self Storage (“Simply”) from Blackstone Real Estate Income Trust, Inc. (“BREIT”) for $2.2 billion.
  • Public Storage is deploying its industry-leading brand and operating platform to drive customer recognition and enhance performance.
  • Public Storage funded the acquisition by utilizing its growth-oriented balance sheet to issue $2.2 billion of senior unsecured notes and quickly closed the transaction in a well-coordinated effort with the Simply and Blackstone teams.
  • Public Storage is a leader in its space and will be an excellent steward of this portfolio.”
    Eastdil Secured served as financial advisor to Public Storage, and Wachtell, Lipton, Rosen & Katz and Hogan Lovells US LLP acted as legal advisors.

Redfin Reports Landlords Are Charging Near-Record Rents—But Offering Concessions

Retrieved on: 
Tuesday, September 12, 2023
Commercial Building & Real Estate, Technology, Construction & Property, Software, Internet, Retail, Other Construction & Property, Residential Building & Real Estate, Online Retail, Pressure, Growth, City, Property management, Lease, Sun Belt

With vacancies on the rise, some landlords are doling out one-time discounts to attract renters while maintaining high asking rents on paper.

Key Points: 
  • With vacancies on the rise, some landlords are doling out one-time discounts to attract renters while maintaining high asking rents on paper.
  • This means rents are effectively coming down in some areas even though the declines don’t show up in asking-rent data.
  • “A year ago, you really didn't see concessions in the market.
  • Fast forward to today, and they are far more common, with landlords offering from one to three months free in an effort to attract new tenants without lowering their asking rents,” said Rent.