Sun Belt

U.S. Housing Market Recovers the Nearly $3 Trillion It Lost, Hitting Record $47 Trillion in Total Value

Retrieved on: 
Friday, August 11, 2023
Residential Building & Real Estate, Construction & Property, Data Management, Technology, Public Relations, Investor Relations, Generation X, Communications, Women, Men, Millennials, Urban Planning, Family, Software, Consumer, Internet, Mobile, Wireless, San Francisco Bay Area, Housing, Silent Generation, Baby boomers, Generation, Sale, Generator, Retirement, Metro, City, AR, Cryptocurrency, Real estate, Tunnel, Video game, Life insurance, Tourism, Sun Belt

The value of U.S. homes rose 0.4% ($166.2 billion) from a year earlier in June and 19.1% ($7.5 trillion) from two years earlier.

Key Points: 
  • The value of U.S. homes rose 0.4% ($166.2 billion) from a year earlier in June and 19.1% ($7.5 trillion) from two years earlier.
  • The housing market has now offset the $2.9 trillion decline in value—set off by rising mortgage rates—that occurred from June 2022 through February 2023.
  • There are 32 U.S. metropolitan areas where aggregate home value declined from a year earlier in June, bucking the national trend.
  • Meanwhile, the value of homes in the suburbs rose 0.2% to $29.1 trillion and the value of homes in rural areas increased 2.6% to $7.4 trillion.

Redfin Reports Asking Rents Are Inching Closer to Their Record High

Retrieved on: 
Thursday, August 10, 2023
Construction & Property, Residential Building & Real Estate, City, Growth, Housing, Property management, Lease, Sun Belt, Redfin

(NASDAQ: RDFN) — The median U.S. asking rent in July was $2,038, just $16 below the record high set in August 2022.

Key Points: 
  • (NASDAQ: RDFN) — The median U.S. asking rent in July was $2,038, just $16 below the record high set in August 2022.
  • The median asking rent was up just 0.3% from a year earlier in July, compared with a 13.6% annual gain in July 2022.
  • “While rents are flattening out, it’s too early to say whether rent growth has bottomed,” said Redfin Deputy Chief Economist Taylor Marr.
  • By comparison, asking rents rose 4.6% to a record $2,533 in the Northeast and climbed 4.3% to a record $1,416 in the Midwest.

Black Rock Coffee Bar Continues Texas Expansion with Exciting New Opening in the Austin Metro Area

Retrieved on: 
Tuesday, August 8, 2023
Inc., 837th Air Division, Lonestar, Sun Belt, Fastest, Privately held company, Coffee, Entrepreneurship, Ethanol fuel energy balance, Nightclub, Pacific Northwest

“Cedar Park is a perfect area for us to open a new Black Rock Coffee Bar.

Key Points: 
  • “Cedar Park is a perfect area for us to open a new Black Rock Coffee Bar.
  • Black Rock Coffee Bar, which is celebrating its 15-year anniversary with more than 115 stores in the U.S., is guided by three principles - coffee, community and connection.
  • Founded in 2008 in Portland, Oregon, an area of the Pacific Northwest known for its coffee excellence, Black Rock Coffee Bar continues its rapid expansion in the West and into the Sunbelt with locations in Arizona, California, Colorado, Idaho, Oregon, Texas and Washington.
  • Last year, Black Rock Coffee Bar ranked 837th among America’s Fastest-Growing Private Companies by Inc. Magazine’s 5000 Annual List.

Black Rock Coffee Bar to Open a New Store in Laveen, Arizona

Retrieved on: 
Monday, August 7, 2023
Heart, Inc., 837th Bombardment Squadron, Black, Sun Belt, Fastest, Privately held company, Coffee, Environment, Nightclub, Pacific Northwest

Portland, Oregon, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Black Rock Coffee Bar continues to expand its presence in Arizona with the opening of a new store in Laveen.

Key Points: 
  • Portland, Oregon, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Black Rock Coffee Bar continues to expand its presence in Arizona with the opening of a new store in Laveen.
  • Known for its premium roasted coffees, teas, smoothies, and Fuel® Energy drinks, the new Black Rock Coffee Bar location is set to open on Friday, August 11th.
  • Black Rock Coffee Bar is guided by three principles - coffee, community and connection.
  • Last year, Black Rock Coffee Bar ranked 837th among America’s Fastest-Growing Private Companies by Inc. Magazine’s 5000 Annual List.

Apollo Impact to Acquire Accent Family of Companies, a Leading Value-Added Distributor and Manufacturer of Baling Wires and Equipment Servicing the Recycling and Waste Management Industries

Retrieved on: 
Monday, August 7, 2023
PwC, APO, The Bridgespan Group, Latham & Watkins, Recycling, Acquisition, Sun Belt, Sims, Growth, Paul, Weiss, Rifkind, Wharton & Garrison, Transport, NYSE, Renewable energy, Accent

Accent is a leader in the distribution and manufacturing of baling wires and wire-tier machines, which are core products used in the recycling and waste industries in the U.S., Canada, and the U.K.

Key Points: 
  • Accent is a leader in the distribution and manufacturing of baling wires and wire-tier machines, which are core products used in the recycling and waste industries in the U.S., Canada, and the U.K.
  • In addition, complementing its core recycling solutions business, Accent Building Materials is a regional wholesale distributor of building materials serving customers across the Sun Belt in the U.S.
  • Existing investor Crossplane Capital (“Crossplane”) partnered with Accent’s founders, the Sims family, in 2019 to acquire a controlling interest in Accent.
  • Apollo was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP, Latham & Watkins LLP, PwC, and the Bridgespan Group.

CubeSmart Reports Second Quarter 2023 Results

Retrieved on: 
Thursday, August 3, 2023
Advertising, FFO, Sun Belt, NOI, Growth, EPS, CubeSmart, Environment, NYSE, Rare-earth element, Video game, Cryptocurrency, Self storage

Net income attributable to the Company’s common shareholders was $97.9 million for the second quarter of 2023, compared with $58.4 million for the second quarter of 2022.

Key Points: 
  • Net income attributable to the Company’s common shareholders was $97.9 million for the second quarter of 2023, compared with $58.4 million for the second quarter of 2022.
  • FFO, as adjusted, was $149.5 million for the second quarter of 2023, compared with $140.2 million for the second quarter of 2022.
  • Same-store revenues for the second quarter of 2023 increased 4.6% and same-store operating expenses increased 3.6% from the same quarter in 2022.
  • Same-store NOI increased 5.0% from the second quarter of 2022 to the second quarter of 2023.

Black Rock Coffee Bar Marks a Milestone Celebrating 15 Years of Coffee Excellence and Customer Appreciation

Retrieved on: 
Wednesday, August 2, 2023
Inc., 837th Air Division, National Dog Show, Sun Belt, Fastest, Privately held company, Coffee, Entrepreneurship, Nightclub, Pacific Northwest

“It’s truly humbling to look back on the remarkable journey we have embarked upon since our beginning 15 years ago,” said Jeff Hernandez, Co-Founder and Executive Chairman, Black Rock Coffee Bar.

Key Points: 
  • “It’s truly humbling to look back on the remarkable journey we have embarked upon since our beginning 15 years ago,” said Jeff Hernandez, Co-Founder and Executive Chairman, Black Rock Coffee Bar.
  • Customer Appreciation Day: On August 15th, Black Rock Coffee Bar is celebrating its customers with an offer – indulge in a scrumptious medium Caramel Blondie for just $2.00.
  • National Dog Day: On August 26th, Black Rock Coffee Bar is celebrating customer’s furry friends with a giveaway.
  • Last year, Black Rock Coffee Bar ranked 837th among America’s Fastest-Growing Private Companies by Inc. Magazine’s 5000 Annual List.

Franklin Street Properties Corp. Announces Second Quarter 2023 Results

Retrieved on: 
Tuesday, August 1, 2023
REIT, Finance, Professional Services, Commercial Building & Real Estate, Construction & Property, Note 2, Samsung Galaxy Note (2011 smartphone), Note, Investment, Bank statement, Innsbrook, Foot, VIE, Soldiers' and Sailors' Monument (Indianapolis), GAAP, Tenant, I, Variable interest entity, Sale, FSP, Internet, FFO, Financial instrument, Sun Belt, General Services Administration, Current research information system, European Globalisation Adjustment Fund for Displaced Workers, Funds from operations, Forest Park, Sponsor, Net income, Franklin Street, Alert messaging, Webcast, Monument, Commonwealth, Consolidated, NYSE, News, Real estate, Commercial property, Cryptocurrency, Self storage, Property management, Online shopping

Franklin Street Properties Corp. (the “Company”, “FSP”, “we” or “our”) (NYSE American: FSP), a real estate investment trust (REIT), announced its results for the second quarter ended June 30, 2023.

Key Points: 
  • Franklin Street Properties Corp. (the “Company”, “FSP”, “we” or “our”) (NYSE American: FSP), a real estate investment trust (REIT), announced its results for the second quarter ended June 30, 2023.
  • During the six months ended June 30, 2023, we leased approximately 445,000 square feet, including 176,000 square feet of new leases.
  • Today’s news release, along with other news about Franklin Street Properties Corp., is available on the Internet at www.fspreit.com .
  • A conference call is scheduled for August 2, 2023 at 11:00 a.m. (ET) to discuss the second quarter 2023 results.

Elme Communities Announces Second Quarter 2023 Results

Retrieved on: 
Monday, July 31, 2023
REIT, Core, Tiffany Butcher, Watergate scandal, Sun Belt, Acquisition, Rock Elm (community), Wisconsin, Growth, NAREIT, CFO, NOI, Elmė, NYSE, Lease, Commercial property, Renewable energy

Subsequent to quarter end, Tiffany Butcher joined the Company as Executive Vice President and Chief Operating Officer.

Key Points: 
  • Subsequent to quarter end, Tiffany Butcher joined the Company as Executive Vice President and Chief Operating Officer.
  • "We are pleased to announce that we completed the full transition of community-level operations at our multifamily communities.
  • Our strong occupancy trend and very strong renewal rates drove 9.6% revenue growth in the second quarter," said Steven Freishtat, Executive Vice President and CFO.
  • We have seen a rebound in the ability to drive performance as communities have restabilized under Elme management.

Prelude Capital announces real estate joint venture

Retrieved on: 
Monday, July 31, 2023
New York Stock Exchange, Sun Belt, Financial services, Prelude

ST. LOUIS, July 31, 2023 (GLOBE NEWSWIRE) -- Prelude Capital Management, LLC (“Prelude”), a multi-billion dollar global asset manager with offices in the US, Europe and Asia, has announced the formation of a real estate joint venture with a New York Stock Exchange-listed financial services conglomerate.

Key Points: 
  • ST. LOUIS, July 31, 2023 (GLOBE NEWSWIRE) -- Prelude Capital Management, LLC (“Prelude”), a multi-billion dollar global asset manager with offices in the US, Europe and Asia, has announced the formation of a real estate joint venture with a New York Stock Exchange-listed financial services conglomerate.
  • The joint venture acquired a 40-unit multifamily property, De Tonty Street Apartments, in the historic Shaw neighborhood of St. Louis, Missouri, where Prelude owns and operates over 100 other units.
  • Gavin Saitowitz, CEO of Prelude, said: “After spending years developing our track record of investing in multifamily housing, we are committed to building new partnerships with quality assets sourced through our proprietary networks in Midwest tertiary markets.
  • These areas benefit from the same positive tailwinds as the Sun Belt, but without the comparable compression of capitalization rates.”