Gross Lease – BCN Stay http://bcn-stay.com/ Tue, 28 Jun 2022 10:11:28 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://bcn-stay.com/wp-content/uploads/2021/06/icon-2-150x150.png Gross Lease – BCN Stay http://bcn-stay.com/ 32 32 R&D in real estate market including major key players CoStar, Nakisa, MRI Software, LeaseAccelerator, Visual Lease – Designer Women https://bcn-stay.com/rd-in-real-estate-market-including-major-key-players-costar-nakisa-mri-software-leaseaccelerator-visual-lease-designer-women/ Tue, 28 Jun 2022 10:04:34 +0000 https://bcn-stay.com/rd-in-real-estate-market-including-major-key-players-costar-nakisa-mri-software-leaseaccelerator-visual-lease-designer-women/ JCMR recently announced Immovable study with 250+ market data tables and figures spread across the pages and easy to understand detailed TOC on “Real Estate. Immovable Industry Report allows you to get different methods to maximize your profits. The research study provides estimates for real estate forecasts until 2030*. Some of the top key companies […]]]>

JCMR recently announced Immovable study with 250+ market data tables and figures spread across the pages and easy to understand detailed TOC on “Real Estate. Immovable Industry Report allows you to get different methods to maximize your profits. The research study provides estimates for real estate forecasts until 2030*. Some of the top key companies covered in this research are CoStar, Nakisa, MRI Software, LeaseAccelerator, Visual Lease, LeaseQuery, Deloitte, IBM, Accruent, ProLease, Tango, PowerPlan, KPMG, Nomos One, Soft4Lessee

Our report will be revised to take into account the pre/post COVID-19 effects on the real estate sector.

Click for a sample PDF copy of the property search here @: jcmarketresearch.com/report-details/1443837/sample

The real estate industry for a leading company is an intelligent process of collecting and analyzing digital data related to services and products. This real estate research idea is aimed at understanding, needs and desires of your target customer. Also reveals how effectively a company can meet its requirements. Real estate market research collects data on customers, real estate marketing strategy, and real estate competitors. The real estate manufacturing industry is becoming increasingly dynamic and innovative, with more private players entering the real estate industry.

Important features offered and highlights of the real estate report:

1) Who are the top key companies in the Global Real Estate Data Surway report?

– Here is the list of players currently featured in the report CoStar, Nakisa, MRI Software, LeaseAccelerator, Visual Lease, LeaseQuery, Deloitte, IBM, Accruent, ProLease, Tango, PowerPlan, KPMG, Nomos One, Soft4Lessee

** The list of companies mentioned may vary in the final real estate report subject to name change / merger etc.

2) What will be the market size of the real estate industry in 2030 and what will be the growth rate?

In 2022, the global real estate market size was xx million USD and is expected to reach xx million USD by the end of 2030, growing at a CAGR of xx% during the period 2021-2030.

3) What are the applications and types of market:

The study of real estate is segmented by the following product types and the industry of major applications/end users are:

Segment by type
– Cloud-based
– Web-based

Segment by application
– Large companies
– SME

** Market real estate is valued on a Weighted Average Selling Price (WASP) basis and includes all applicable manufacturer taxes. All currency conversions used in the creation of this report have been calculated using constant 2022 annual average exchange rates.

To mainly understand the dynamics of the global real estate market in the world, the global real estate market is analyzed in major regions. The JCMR also provides specific regional and country reports customized for the following areas.

• North America real estate sector: United States, Canada and Mexico.

• Real Estate Industry South and Central America: Argentina, Chile and Brazil.

• Middle East and Africa real estate sector: Saudi Arabia, United Arab Emirates, Turkey, Egypt and South Africa.

• Europe of the real estate industry: United Kingdom, France, Italy, Germany, Spain and Russia.

• Asia-Pacific real estate sector: India, China, Japan, South Korea, Indonesia, Singapore and Australia.

Inquire for Buying Real Estate Industry Segment @ jcmarketresearch.com/report-details/1443837/enquiry

Find more research reports on Real estate sector. By JC Market Research.

Competitive analysis:

Key real estate players are betting heavily on innovation in production technologies to improve efficiency and shelf life. The best long-term growth opportunities for this sector can be captured by ensuring continuous process improvements and financial flexibility to invest in the optimal real estate industry strategies. Company profile section of players such as CoStar, Nakisa, IRM Software, LeaseAccelerator, Visual Lease, LeaseQuery, Deloitte, IBM, Accruent, ProLease, Tango, PowerPlan, KPMG, Nomos One, Soft4Lessee includes its basic information such as legal name, website, registered office, market position, history and top 10 closest competitors by real estate market capitalization / real estate revenue, and contact details . Real Estate Each player/manufacturer revenue, real estate growth rate and gross profit margin are provided in easy to understand tabular form for the last 5 years and a separate section on recent developments such as mergers , real estate acquisition or any new product/service launch, including SWOT analysis of each key real estate player, etc.

Real Estate Sector Research Parameter/ Research Methodology

Real Estate Industry Main Search:

The primary sources involve real estate industry experts, including management organizations, real estate-related processing organizations, industry value chain real estate analysis service providers. All primary sources were interviewed to collect and authenticate qualitative and quantitative information and determine the future outlook for real estate.

In the extensive primary real estate research process undertaken for this study, key sources – real estate industry experts such as CEOs, VPs of Real Estate, Director of Real Estate Marketing, Directors of technology and real estate related innovation, real estate related founders and related keys Executives from various key companies and organizations in the global real estate industry were interviewed to obtain and verify qualitative and quantitative aspects of this real estate research study.

Real estate sector Secondary search:

In the secondary research, crucial information about the value chain of real estate industries, total pool of real estate key players and scopes of real estate industry. He has also contributed to the segmentation of the real estate market based on industry trends down to the lowest level, geographic real estate markets and key real estate market developments and technology driven outlook.

Buy a full copy with an exclusive discount on Surway @ Global Real Estate Market jcmarketresearch.com/report-details/1443837/discount

In this study of Real Estate, the years considered to estimate the market size of Real Estate are as follows:

History of the real estate industry Year: 2015-2021

Real estate sector Base year: 2021

Real estate sector Estimated year: 2022

Real Estate Industry Forecast Year 2022 to 2030

Main players in the global real estate market:

Real estate builders

Real Estate Distributors/Traders/Wholesalers

Real Estate Subcomponent Manufacturers

Real Estate Industry Association

Downstream property sellers

**Actual numbers and in-depth analysis, business opportunities, estimated real estate market size available in the full report.

Buy Latest Real Estate Research Report Directly & Instantly @ jcmarketresearch.com/checkout/1443837

Thank you for reading this article; you can also get an individual section by chapter or a version of the real estate report by region like North America, Europe or Asia.

About the Author:

JCMR’s global research and market intelligence consulting organization is uniquely positioned to not only identify growth opportunities, but also to empower and inspire you to create visionary growth strategies for the future, through our extraordinary depth and breadth of thought leadership, research, tools, events and experience. that help you make goals a reality. Our understanding of the interplay between industry convergence, megatrends, technologies and market trends provides our clients with new business models and opportunities for expansion. We are focused on identifying the “Accurate Forecast” in each industry we cover so that our clients can reap the benefits of being early market entrants and can achieve their “Goals and Objectives”.

Contact us:

JCMARKETRESEARCH

Mark Baxter (Business Development Manager)

Phone: +1 (925) 478-7203

Email: sales@jcmarketresearch.com

Connect with us at – LinkedIn

www.jcmarketresearch.com

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Digihost Announces First Quarter – GuruFocus.com https://bcn-stay.com/digihost-announces-first-quarter-gurufocus-com/ Sun, 26 Jun 2022 12:12:39 +0000 https://bcn-stay.com/digihost-announces-first-quarter-gurufocus-com/ TORONTO, May 17, 2022 (GLOBE NEWSWIRE) — Digihost Technology Inc. (“Digihost“or the”Company”) (DGHI; TSXV: DGHI), an innovative Bitcoin based in the United States (“BTC”) mining company, announces unaudited financial results for the first quarter ended March 31, 2022 (all amounts are in U.S. dollars unless otherwise noted). “The company is pleased to present its first […]]]>

TORONTO, May 17, 2022 (GLOBE NEWSWIRE) — Digihost Technology Inc. (“Digihost“or the”Company”) (DGHI; TSXV: DGHI), an innovative Bitcoin based in the United States (“BTC”) mining company, announces unaudited financial results for the first quarter ended March 31, 2022 (all amounts are in U.S. dollars unless otherwise noted).

“The company is pleased to present its first quarter financial results, highlighted by a 77% increase in the number of Bitcoins mined year over year,” said Michel Amar, President and CEO of Digihost. “The company’s previous investments in infrastructure as well as securing access to clean and renewable energy sources generated mining revenues of $7.3 million, a 53% increase over the previous year. ‘last year. Despite challenging market conditions, Digihost is committed to achieving its goal of being a leading company in blockchain technology. With approximately $31 million in cash and cash equivalents currently available, valued at today’s BTC price, and mining with breakeven costs of approximately $12,000 per BTC, based on current hashing difficulties and energy cost, the company is more than capable of sustaining its existing operations, Digihost is clearly here to stay. Based on the number of BTC mined so far this quarter, the company predicts that it will mine more BTC in the second quarter than it mined in the first quarter of this year.

First Quarter 2022 Financial Highlights

  • Digital currency mining revenue of $7.3 million reported for the three-month period ended March 31, 2022, compared to $4.8 million for the three-month period ended March 31, 2021, a 53% increase;
  • For the three-month period ended March 31, 2022, the Company mined a total of 186.53 BTC compared to 105.26 BTC for the three-month period ended March 31, 2021;
  • Operating profit for the three-month period ended March 31, 2022 of $513,000, an increase of 125% compared to the same period of the previous year;
  • Realized net profit of $59,000 for the three-month period ended March 31, 2022, compared to realized net profit of $73,000 for the same period of the previous year;
  • EBITDA* of $2.0 million for the three-month period ended March 31, 2022, compared to $1.3 million during the same period last year, an increase of 53%;
  • Total assets of $97.4 million, an increase of 22% from December 31, 2021;
  • Cash and cash equivalents of $47.72 million as of March 31, 2022, an increase of 39% from December 31, 2021;
  • Working capital of $35.47 million as of March 31, 2022, an increase of 34% compared to December 31, 2021;
  • Property, plant and equipment consisting primarily of the Company’s BTC miners (64%) and mining infrastructure (36%) of $41.47 million;
  • Raised C$13,300,000 of institutional equity financing through a private placement at a premium to market price; and
  • Closing of a $10,000,000 secured revolving credit facility.

* EBITDA is a non-IFRS financial measure and should be read in conjunction with, and should not be considered an alternative or replacement for, operating results and liquidity measures presented in accordance with IFRS and refers readers reconciliations of non-IFRS measures. included in the Company’s management report.

(USD except per share data) Three months completed
March, 31st
2022
March, 31st
2021
Revenue from digital currency mining 7,312,342 4,767,075
Energy cost and production costs (2,143,327 ) (1,549,144 )
Minor lease agreement (3,056,125 )
Depreciation and amortization (1,531,598 ) (1,109,796 )
Gross profit 581 292 2,108,135
General and administrative expenses and others (1,337,992 ) (439,442 )
Gain on sale of property, plant and equipment 2,340,658
Loss on debt settlement (274,882 )
Exchange (770 196 )
Other income 84 207
Change in fair value – Mining lease agreement 379,065
Stock-based compensation (764,390 ) (1,165,542 )
Operating result 512,644 228 269
Net financial charges (84,375 ) (155,312 )
Net profit before tax 428 269 72,957
Deferred tax expense (368,771 )
Net income for the period 59,498 72,957
Foreign currency translation adjustment 947 199 1,456
Revaluation of digital currency, net of tax (620,761 ) 5,836,561
Total comprehensive income for the period 385,936 5,910,974
Basic and diluted earnings per share
Weighted average number of subordinate voting shares outstanding – diluted
0.00

27,685,913

0.00

14,771,251

Market Funding Update

On March 4, 2022, the Company entered into an offering agreement with HC Wainwright & Co., LLC as agent, pursuant to which the Company established a market share program (the “ATM Program”) . From the start of the ATM Program up to the date hereof, the Company has not issued any securities under the ATM Program.

About Digihost

Digihost is a growth-oriented blockchain technology company primarily focused on BTC mining. Through its self-mining operations and joint venture agreements, the Company currently chops at a rate of approximately 450 PH/s.

For more information, please contact:

Digihost Technology Inc.
www.digihost.ca
Michel Amar, Managing Director
T: 1-818-280-9758
E-mail: [email protected]

Caution

Trading in the Company’s securities should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

Except for statements of historical fact, this press release contains “forward-looking information” and “forward-looking statements” (collectively, “Forward-Looking Information”) that are based on expectations, estimates and projections as of the date of this press release and are covered by safe harbors under the securities laws of Canada and the United States. The forward-looking information contained in this press release includes information on possible further improvements in the profitability and efficiency of mining operations. including, due to the Company’s expansion efforts, equipment and infrastructure acquisitions, the Company’s long-term growth potential and the Company’s business goals and objectives. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: the ability to obtain regulatory approval and complete equipment and infrastructure acquisitions on the conditions announced or not at all; the ability to successfully integrate equipment and infrastructure acquisitions on an economic basis or not at all; future capital requirements and the uncertainty of additional financing, including the Company’s ability to utilize the Company’s market offering program (the “ATM Program”) and the prices at which the Company may sell securities in the ATM program, as well as capital market conditions in general; stock dilution resulting from the ATM program and other stock issuances; risks related to the strategy of maintaining and increasing Bitcoin holdings and the impact of Bitcoin price depreciation on working capital; regulatory and other unforeseen issues that prohibit us from declaring or paying our shareholders dividends payable in Bitcoin; the continuing effects of the COVID19 pandemic could have a material adverse effect on the Company’s performance, as supply chains are disrupted and prevent the Company from operating its assets; Public Service Commission or other regulatory or board approvals received on a timely basis, or not at all; the acquisition of the facilities in North Tonawanda, New York, closing on time or not at all; ability to access additional power from the local power grid; a decline in cryptocurrency prices, trading volume or, more generally, the profitability of cryptocurrency mining; further improvements in profitability and efficiency may not be realized; the digital currency market; the Company’s ability to successfully mine digital currency on the cloud; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices could have a material adverse impact on the Company’s operations; digital currency price volatility; and other related risks as more fully described in the Company’s Annual Information Form and other documents disclosed in the Company’s filings on www.sedar.com. The forward-looking information contained in this press release reflects the Company’s current expectations, assumptions and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this press release, the Company has made assumptions about: the current profitability of cryptocurrency mining (including prices and volume of current trading activity); the profitable use of the Company’s assets in the future; the Company’s ability to profitably liquidate its digital currency inventory as needed; historical prices of digital currencies and the Company’s ability to mine digital currencies on the cloud will be consistent with historical prices; the ability to maintain reliable and economical power sources to operate its cryptocurrency mining assets; the negative impact of regulatory changes to energy regimes in the jurisdictions in which the Company operates; the ability to adhere to Digihost’s dividend policy and the timing and amount of dividends based on, among other things, the Company’s results of operations, cash flow and financial condition, capital requirements current and anticipated Digihost Terms and Conditions of Business; and there will be no regulations or laws that prevent the Company from carrying on business. The Company has also assumed that no material event occurs outside of the normal course of business for the Company. Although the Company believes that the assumptions inherent in forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and, accordingly, undue reliance should not be placed on such information due to the inherent uncertainties therein. .

Digihost-Technology-Inc-.png

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Harbor Freight sets opening date for Bethlehem store, one of many new tenants coming to redeveloped Westgate Shopping Center – The Morning Call https://bcn-stay.com/harbor-freight-sets-opening-date-for-bethlehem-store-one-of-many-new-tenants-coming-to-redeveloped-westgate-shopping-center-the-morning-call/ Fri, 24 Jun 2022 17:12:15 +0000 https://bcn-stay.com/harbor-freight-sets-opening-date-for-bethlehem-store-one-of-many-new-tenants-coming-to-redeveloped-westgate-shopping-center-the-morning-call/ A popular retail chain is set to open its brand new Lehigh Valley location in part of the former Weis Markets space at Westgate Mall, formerly known as Westgate Mall, in Bethlehem. Harbor Freight Tools, a California-based chain offering a wide range of tools, hardware and other home, garden and auto items, will hold a […]]]>

A popular retail chain is set to open its brand new Lehigh Valley location in part of the former Weis Markets space at Westgate Mall, formerly known as Westgate Mall, in Bethlehem.

Harbor Freight Tools, a California-based chain offering a wide range of tools, hardware and other home, garden and auto items, will hold a soft opening of its new Bethlehem store on Wednesday, according to Craig Hoffman. , director of Harbor Freight communications and corporate content. The official store opening will take place on July 16 at 8 a.m.

“We always have what we call a soft opening before [the grand opening] — in this case, Wednesday, June 29 — when the store is open, to give our associates time to familiarize themselves with the store so they can more effectively assist our customers,” Hoffman said.

Harbor Freight, founded by Eric Schmidt and his father in 1977, has more than 1,300 stores nationwide, including four regional locations in South Whitehall Township, Richland Township, Wilson and Stroudsburg.

The company has been looking to open a location in Bethlehem for some time, Hoffman said, because Bethlehem-area residents currently have to travel about eight miles to the Easton-area store, 10 miles to the Easton-area store. the Allentown area and 12 miles to the Quakertown area. shop.

Harbor Freight waited to find a location that met its needs and the needs of customers: “good visibility, easy access, ample parking and the right square footage,” Hoffman added.

“We are excited about this new location as it will be much more convenient for our client in the Bethlehem community,” Hoffman said.

Customers will find a comprehensive selection of “quality tools and accessories…at the lowest prices” in categories such as automotive, air and power tools, storage, outdoor power equipment, generators, welding supplies, shop equipment and hand tools, Hoffman said.

“This particular location in the Westgate Mall (2305 Schoenersville Road) will be 15,580 square feet, which is smaller than so-called ‘big box’ stores in our category, and we believe it is ‘a competitive advantage,’ Hoffman said. “Many of our customers are professional tradespeople who want to stop in, find what they need, and then get to their jobsite or shop quickly. For other customers, this size makes it easier to browse and find our great deals. »

The new Harbor Freight store, bringing 25 to 30 new jobs to the community, will occupy approximately 16,000 square feet of space that is being redeveloped with a new facade.

According to Matt Flath, vice president of asset management for Onyx Equities, a New Jersey-based real estate investment and services firm that owns and manages Westgate, an additional 16,000 square feet of the former Weis space remains. available.

The arrival of Harbor Freight in Westgate is good news for the Schoenersville Road shopping centre, which opened in 1973 with dozens of retailers but has been besieged by several vacancies in recent years.

A positive development came in May 2021, when Weis moved from a longtime 32,000 square foot space in the center of the complex to a newly renovated 63,000 square foot store – in a 108,000 square foot building that housed previously the Bon-Ton department store – at the northern end of the complex.

Westgate’s revitalization is set to continue with the recent announcement that three fast food chains, a bank and a retailer will occupy newly constructed buildings following the razing of much of the interior of the Bethlehem Mall.

The third phase of Onyx Equities’ redevelopment plans, which were approved by the Bethlehem Planning Commission on March 10, includes the demolition of approximately 50,000 square feet of the interior of the current mall to allow construction of new approximately 8,000 square feet of new premises.

Two new structures will include a stand-alone bank with drive-thru, next to the relocated Weis Markets grocery store, and an adjacent strip mall that will house Jersey Mike’s Subs, QDOBA Mexican Eats and Starbucks restaurants, the latter including a drive-through through. The mall will also include a retailer that has yet to be announced.

Redevelopment of part of the mall’s infill section will open up the site and provide a connection between the front and back of the center, something it “never had,” said engineer Ryan Whitmore. professional at Landcore Engineering Consultants, during the conference on March 10. Meet.

It will also allow the creation of 55 parking spaces.

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“With the reduction in GLA, gross leasable area and the construction of the new parking lot, it really shifts that parking ratio into a surplus,” Whitmore added.

Tiffany Wells, traffic superintendent for the city, expressed concern about possible traffic jams resulting from Starbucks drive-thru, and commission members, including Chairman Robert Melosky, suggested the possibility of removing at least a dozen parking spaces and changing traffic patterns. to help prevent congestion.

However, Flath noted that quick-service restaurants have a much higher turnover of customers, who like to grab their food and leave, and parking is “sensitive in that area.”

“If you cut 12 places, you might be talking about a catastrophic cut right in front of all these restaurants,” Flath said.

Other changes coming to Westgate include 10,000 square feet of space at the south end of the mall – which previously housed Rite Aid – being leased to the Oak Street Health primary care medical facility (no date provisional opening has been announced); an international quick-service burger chain, which signed a lease to build a 4,500-square-foot freestanding retail space on the north corner of Center across from Weis; and a financial institution, which signed a lease to develop a free-standing 3,500 square foot building on the former Dempsey restaurant pad.

The final two projects are pending site plan approval by the city, and Onyx hopes to begin development toward the end of the year, Flath said.

Built in 1973 on Schoenersville and Catasauqua roads, Westgate continues to house more than a dozen tenants, including Westgate Jewelers, Holiday Hair, Subway, Hawk Music, Amateur Athlete, Westgate Pizza, Grand China Buffet & Grill, Johnny’s Bagels & Deli, GNC, Sky Zone Trampoline Park, Fine Wine & Good Spirits, Tantastic, Outlooks for Hair, Country Rose Flowerist, The Barber Shop, Panda Cleaners and New Sound Hearing Center.

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PowerBand Solutions Inc. announces: https://bcn-stay.com/powerband-solutions-inc-announces/ Wed, 22 Jun 2022 23:55:00 +0000 https://bcn-stay.com/powerband-solutions-inc-announces/ Closing of a first tranche of its previously announced private placement with Investors Group led by J. Bryan Hunt Jr., Joe Poulin and Pierre Lassonde; Loan agreement; Actions for debt transaction; Management and Board Changes; and Potential new control person TORONTO, ON/ACCESSWIRE/June 22, 2022/ PowerBand Solutions Inc. (TSXV: PBX) (OTCQB: PWWBF) (“power band” “PABX“or the”Company“), […]]]>
  • Closing of a first tranche of its previously announced private placement with Investors Group led by J. Bryan Hunt Jr., Joe Poulin and Pierre Lassonde;

  • Loan agreement;

  • Actions for debt transaction;

  • Management and Board Changes; and

  • Potential new control person

TORONTO, ON/ACCESSWIRE/June 22, 2022/ PowerBand Solutions Inc. (TSXV: PBX) (OTCQB: PWWBF) (“power band” “PABX“or the”Company“), a complete e-commerce solution transforming the online experience for selling, trading, leasing and financing vehicles, announces the closing of a first tranche (the “First installment“) of its previously announced private placement financing (the “Funding“), announced on May 10, 2022. PowerBand today issued 62,037,560 units (the “Units“) at a subscription price of CA$0.30 per Unit for gross proceeds of CA$18,611,268 (approximately US$14,330,676). Each Unit consists of one common share of the Company and one warrant, each warrant exercisable for one additional common share at an exercise price of CAD$0.40 for a period of 60 months.

PowerBand is pleased to announce that it has attracted a third strategic shareholder, Pierre Lassonde, to the previously disclosed strategic investor group of J. Bryan Hunt Jr. and Joe Poulin, further enhancing shareholder value. Mr. Lassonde has extensive experience investing in early-stage companies and will bring significant value to the Company throughout its growth plan.

The Company intends the aggregate size of the financing to be gross proceeds of C$23,806,308 (approximately US$18,330,852). The Company expects a second closing tranche for the balance of the subscription proceeds to be completed in approximately 10 calendar days, subject to regulatory approval.

Proceeds from the financing will be used for general working capital purposes, product development, marketing and advertising and other strategic growth initiatives, the repayment of certain previously disclosed debts owed to Kelly Jennings as set forth below. below, and transaction fees. The securities issued under the Financing will be subject to a hold period of four months from their date of issue.

Loan and shares for debt
On May 4, 2022, D2D Auto Auction LLC, the joint venture 50% owned by the Company and 50% owned by J Bryan Hunt Jr. advanced US$3,519,711 to the Company in the form of a bridge loan (the “Ready“). The loan was secured by the assets of the Company, bears interest at the prime rate and is repayable at the closing of an equity transaction for the debt (the “Debt settlement“), to occur concurrently with the closing of the first tranche. The loan proceeds were used to make the final installment of the purchase price for the Drivrz Financial acquisition and for general working capital purposes. Mr. Hunt financed the loan and is due to repay at the closing of the financing The loan is settled today through debt settlement The obligations under the loan amounting to C$4,534,092 , are settled by issuing 15,113,640 units at a deemed price of $0.30 per unit, these Units having the same terms and conditions as the Units issued in the First Tranche.

Management and Board Changes
The Company also announces the appointment of Darrin Swenson as President and Chief Executive Officer, thereby removing “interim” from his title, and the appointment of J. Bryan Hunt Jr. as Chairman of the Board of Directors. Darrin Swenson, CEO and Director of PowerBand Solutions, said, “With this recapitalization, PowerBand can focus on completing its expense restructuring plan by the end of June 2022. We are working diligently on a new strategic plan which we expect to unveil to stakeholders by the end of June 2022. end of Q3 2022 and will provide further updates as appropriate.”

Powerband also announces that Jon Lamb, who served as President and CEO of Drivrz Financial LLC, has left the company for personal reasons. The Company would like to thank Mr. Lamb for his dedication and stewardship and wishes him well in his future endeavours.

Kelly Jennings, the company’s former chairman, president and chief executive, resigned and signed a separation agreement providing for the company to repay Mr. Jennings C$2 million of his loans, the balance of 2 C$.6 million being repayable within 18 months, subject to Mr. Jennings’ compliance with certain non-competition and confidentiality covenants of the separation agreement. These loans are non-interest bearing and have been previously disclosed by the Company.

Potential new control person
The subscription of Units by Mr. Hunt in the First Tranche and the issuance of the Units to Mr. Hunt pursuant to the Debt Settlement, assuming the exercise of all Warrants, will make him a new “person of control” of the Company, as that term is defined by the policies of the TSX Venture Exchange. Following the closing of the First Tranche and the Debt Settlement, Mr. Hunt controls 52,646,800 shares of the Company, representing 18.88% on a non-diluted basis and 29.49% on a partially diluted basis. The Company intends to seek shareholder approval for Mr. Hunt to become a controlling person of the Company. In the meantime, Mr. Hunt has covenanted with the Exchange not to exercise or convert any convertible securities that would give him beneficial ownership or control, direct or indirect, of more than 19.99% or more of the Common Shares. issued and in circulation. the company.

About PowerBand Solutions, Inc.
PowerBand Solutions Inc., listed on the TSX Venture Exchange and OTCQB markets, is a financial technology provider that is disrupting the automotive industry. PowerBand’s integrated cloud-based transaction platform facilitates transactions between consumers, resellers, backers and manufacturers (OEMs). It allows them to buy, sell, trade, finance and lease new and used vehicles, electric and non-electric, on any internet-connected phone, tablet or PC. PowerBand’s trading platform – being a registered trademark under DRIVERZ™ – is available in the North American and global markets.

For more information, please contact:
Darrin Swenson
Chief executive officer
Email: Darrin.swenson@powerbandsolutions.com
T.: 1-866-768-7653

Early warning report
Hunt Investment Trust No. 2 (the “Acquirer“), a family trust controlled by J. Bryan Hunt Jr., acquired a total of 41,930,000 units of the Company pursuant to the financing and debt settlement. Mr. Hunt previously owned 10,716,800 common shares of the Company, representing 5.31% of the issued and outstanding common shares of the Company After the closing of the first tranche and the settlement of the debt, the two parties jointly control 52,646,800 shares of the Company representing 18.88% on a on an undiluted basis and 29.49% on a partially diluted basis (this partially diluted calculation includes the exercise of all warrants held by the Purchaser).

The Purchaser acquired the Units pursuant to (i) a subscription agreement dated the same day and for total proceeds of C$8,044,908 and (ii) debt settlement (settlement obligations of C$4,534,092 CAD).

The shares were acquired by the acquirer for investment purposes. The acquirer and Mr. Hunt each have a long-term view of the company and may acquire additional securities of the company either on the open market or through private acquisitions, or sell securities on the open market or by through private divestments in the future depending on market conditions, reformulation of plans and/or other relevant factors.

A copy of the Investor Alert will be filed on the issuer’s SEDAR profile at www.sedar.com.

For more information, please contact:
Johnnie B. Hunt Jr.
E: Bryan.Hunt@powerbandsolutions.com
T.: 1-866-768-7653

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements relating to the Company and other statements that are not historical facts. Forward-looking statements are often identified by words such as “will”, “may”, “should”, “anticipate”, “expect” and similar expressions. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding the Company’s future plans and objectives, the closing of the second tranche of financing, the use of proceeds of the financing, matters relating to shareholder approval and the Company’s strategic plan, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Readers are cautioned that the assumptions used in preparing any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. Accordingly, we cannot guarantee the achievement of any forward-looking statement, and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time it was prepared, may prove to be incorrect and actual results may differ materially from those anticipated.

The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to publicly update or revise any of the forward-looking statements included, whether as a result new information, future events or otherwise, except as expressly required by Canadian securities law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”) or any state securities law and may not be offered or sold in the United States unless registered under United States law. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

THE SOURCE: PowerBand Solutions Inc.

See the source version on accesswire.com:
https://www.accesswire.com/706248/PowerBand-Solutions-Inc-Announces

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This logistics stock is trading at a 40% discount to the high, buys for 118% upside https://bcn-stay.com/this-logistics-stock-is-trading-at-a-40-discount-to-the-high-buys-for-118-upside/ Tue, 21 Jun 2022 04:59:26 +0000 https://bcn-stay.com/this-logistics-stock-is-trading-at-a-40-discount-to-the-high-buys-for-118-upside/ Gati Ltd is a logistics-focused small cap with a market capitalization of ₹1,631 crores. On the NSE, shares of Gati Ltd hit a 52-week high of ₹221.90 on Jan 18, 2022 and a 52 week low of ₹120.00 on August 23, 2021, implying the stock is now trading at a 40% discount to its 52-week […]]]>

Gati Ltd is a logistics-focused small cap with a market capitalization of 1,631 crores. On the NSE, shares of Gati Ltd hit a 52-week high of 221.90 on Jan 18, 2022 and a 52 week low of 120.00 on August 23, 2021, implying the stock is now trading at a 40% discount to its 52-week high of 132 per share. ICICI Securities issued a call to buy on Gati with a target price of 288. This represents a potential increase of 118% from the current level.

ICICI Securities said in a note that “We visited the Farukh Nagar sorting center in Gati, Haryana. Its 113,000 square foot facility is located inside the Allcargo Logistics Park. Farukh Nagar helped Gati consolidate three different former NCR hubs into 84,000 square feet enabling the benefits of consolidation, cross-docking (with 89 bays), dock leverage, better IT integration planning and better connectivity. According to management, the current infrastructure is adequate to meet the infrastructure needs of the NCR of Gati for the next 10 years. Gati CEO Pirojshaw Sarkari reiterated three-year exit revenue run rate of Rs30bn and FY23E exit gross margin/EBITDA run rate of 29/9% and run rate FY24E exit gross margin / EBITDA of 32 / 12-15%, respectively. There will be no significant increase in rental charges despite the arrival of seven new sorting centers, Gati abandoning the old sorting centers.”

The brokerage said: “We are maintaining BUY on Gati with a target price of Rs288/share, at 30x FY24E earnings. We see the potential for strong improvement in yield ratios for Gati as revenue and margin reach their potential. Currently, Gati’s (past) goodwill is approximately Rs 4.3 billion and assets held for sale are approximately Rs 1.8 billion.”

Gati shares gained 1.29% today after 5 days of consecutive falls of 3.86%. In one year, the stock has fallen 12.45%, and year-to-date (YTD), the stock has fallen 29.32% so far in 2022. The stock has fallen 19.48 % over the past six months and 4.27%. over the past month. Gati is now trading below the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. The stock has a P/E of 190.07 and a book value per share of 49.77, implying that it is now trading at 2.67 times its book value.

The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.

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Prices rise in supermarkets this week with a new ‘more expensive’ https://bcn-stay.com/prices-rise-in-supermarkets-this-week-with-a-new-more-expensive/ Sun, 19 Jun 2022 13:05:19 +0000 https://bcn-stay.com/prices-rise-in-supermarkets-this-week-with-a-new-more-expensive/ A shopper who compared the prices of identical basic items in supermarkets week after week says Morrison’s won an unfortunate crown in the latest bill battle – more expensive than Sainsbury’s. Emma Gill from the MEN bought the same items from different stores to give a weekly analysis of price trends. She bought the same […]]]>

A shopper who compared the prices of identical basic items in supermarkets week after week says Morrison’s won an unfortunate crown in the latest bill battle – more expensive than Sainsbury’s. Emma Gill from the MEN bought the same items from different stores to give a weekly analysis of price trends.

She bought the same eight items from Tesco, Asda, Aldi, Lidl, Sainsbury’s and Morrisons – a two-quart bottle of milk, a loaf of bread, coffee, tea bags, butter, beans, breasts of chicken and minced meat. Last week, MEN found Lidl to be the cheapest of all eight products, at £9.82.

Emma said: “Despite the increase in the price of milk and butter this week, it has still kept its bill lower than any other store, at £9.91. The biggest shock though is Morrisons, who it just three weeks ago wore the cheapest crown herself, with a £9.78 bill for the basket.

“Now it comes in at £10.91 and turns out to be the most expensive of them all – taking the unfortunate place of Sainsbury’s for the first time. Three separate increases have put it there this week – its cheapest loaf of bread dropping from 39p to 54p, chicken up to £2.49 for a 300g pack of two breasts and mince dropping from £1.89 to £2.19.

“These meat prices are higher than any other supermarket and the mince is 50p more expensive than the cheapest, which is Asda’s new Just Essentials pack for £1.69. It’s not just Morrisons which drives up prices.

“Lidl, Tesco and Sainsbury’s have joined the others in raising the cost of 2 pints of milk to £1.05 from 99p, with the latter two also increasing the cost of their chicken. And Lidl has increased the cost of its butter from £1.69 to £1.72, although he still sells it cheaper than elsewhere.”

A number of organizations perform price comparisons week after week. The Grocer, for example, has been comparing prices in supermarkets for 20 years. In his latest chart, a basket of food at Morrisons was £51.74 while the same basket at Sainsbury’s was £52.82.

Grocer figures saw Tesco billed at £52.21, Asda at £51.69, Waitrose at £66.05, Aldi at £45.88 and Lidl the cheapest at £45.64.

Who? uses a basket of 18 items to compare – and puts Sainsbury’s at £27.32 while Morrisons came in at £27.06. Lidl was the cheapest at £23.55.

Here is the shopping list and total for each supermarket in the MEN test (as of Friday, June 17)

lidl

Loaf of white bread 800g – 36p

Milk 2 pints – £1.05 (from 99p)

Coffee 200g – 1,69€

160 tea bags – £99

Salted butter 250g – 1,72€ (from £1.69)

Beans Box 420g – 22p

Chicken 300g – £1.99

Chopped 500g 20% ​​MG – €1.89

Total £9.91 (was £9.82)

Asda

Loaf of white bread 800g (Malin Price) – 39p

Milk 2 pints – £1.05

Coffee 200g (2 x 100g Just Essentials) – £1.50

160 tea bags (4 x smart price 40 pack) – £1.12

Salted butter 250g – €1.75

Beans 410g tin (Smart Price) – 25p

Chicken (largest 350g pack for £2.65) – equals £2.27

Chopped 500g 20% ​​MG – €1.69

Total£10.02

Aldi

Loaf of white bread 800g – 36p

Milk 2 pints – £1.05

Coffee 200g – 1,69€

Bags 160 – €1.09

Salted butter 250g – €1.75

Beans Box 420g – 22p

Chicken 300g – £1.99

Chopped 500g 20% ​​MG – €1.89

Total £10.04

Tesco

Loaf of white bread 800g – 36p

Milk 2 pints – £1.05 (from 99p)

Coffee 200g (2 x 100g) – £1.70

160 tea bags (2 x 80 pack) – €1.10

Salted butter 250g – €1.75

Beans Box 420g – 22p

Chicken 300g – £2.25 (from £2.20)

Chopped 500g 20% ​​MG – €1.89

Total £10.32 (was £10.21)

Sainsbury’s

Loaf of white bread 800g – 36p

Milk 2 pints – £1.05 (from 99p)

Coffee 200g 2€ (from £1.69)

Bags 160 – €1.09

Salted butter 250g – €1.75 (was £1.90)

Beans Box 400g – 21p

Chicken 300g – £2.40 (from £2.30)

Chopped 500g 20% ​​MG – €1.89 (was £2.10)

Total £10.75 (was £10.64)

Morrison

Loaf of white bread 800g – 54p (from 39p)

Milk 2 pints – £1.05

Coffee (2 x 100g) – £1.50

160 Tea Bags (2 x 80-pack Savers) – £1.18

Salted butter 250g – €1.75

Beans Box 410g – 21p

Chicken 300g – 2,49€ (was £2.05)

Chopped 500g 20% ​​MG – €2.19 (was £1.89)

Total £10.91 (was £10.02)

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Providence Resources raises $1.8 million for working capital needs https://bcn-stay.com/providence-resources-raises-1-8-million-for-working-capital-needs/ Fri, 17 Jun 2022 13:23:52 +0000 https://bcn-stay.com/providence-resources-raises-1-8-million-for-working-capital-needs/ Energy company based in Ireland Providence Resources announced its intention to conditionally raise up to $1.8 million before expenses on Friday, to meet its short-term working capital needs. The AIM-listed company said the funds would be raised through the issue of placement and subscription securities, each consisting of one new share and a 1.5 pence […]]]>

Energy company based in Ireland Providence Resources announced its intention to conditionally raise up to $1.8 million before expenses on Friday, to meet its short-term working capital needs.

The AIM-listed company said the funds would be raised through the issue of placement and subscription securities, each consisting of one new share and a 1.5 pence warrant, at a price of 1 .5 pence each.

He said the fundraising would include placement with institutional and other investors, and subscription by certain investors.

The price represented a 35% discount to the company’s closing price on June 16.

“The fundraising is necessary to meet the company’s short-term working capital needs as well as to pursue its lease commitment application for Barryroe,” the board said in its statement.

“Providence continues to press the Irish Department for Environment, Climate and Communities (DECC) to consent to its Barryroe lease commitment application.

“In addition, a portion of the proceeds will be used to advance the preparation of an appraisal well in 2023, subject to the award of the lease commitment.”

At 12:58 BST, shares of Providence Resources were down 26.09% to 1.7p.

Reporting by Josh White on Sharecast.com.

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Start of construction of Romania’s first industrial park with air cargo terminal https://bcn-stay.com/start-of-construction-of-romanias-first-industrial-park-with-air-cargo-terminal/ Mon, 13 Jun 2022 12:55:23 +0000 https://bcn-stay.com/start-of-construction-of-romanias-first-industrial-park-with-air-cargo-terminal/ The industrial and logistics developer CTP has started the construction works of the first industrial park with an air cargo terminal in Romania. CTP, headquartered in Amsterdam, said the CTPark Oradea cargo terminal is being developed on a 14.4 ha site directly connected to Oradea Airport and close to the Eurobusiness II industrial park. Construction […]]]>

The industrial and logistics developer CTP has started the construction works of the first industrial park with an air cargo terminal in Romania.

CTP, headquartered in Amsterdam, said the CTPark Oradea cargo terminal is being developed on a 14.4 ha site directly connected to Oradea Airport and close to the Eurobusiness II industrial park.

Construction work on the taxiway connecting the aircraft parking area to the airport runway has been completed. Work is currently underway on the aircraft parking area, with a surface area of ​​more than 20,000 m², and on the first industrial and logistics spaces, including air freight. Two buildings with a total area of ​​approximately 25,000 m² will be operational by the end of the year.

Once the construction works are completed, the CTPark Oradea freight terminal will have a total area of ​​more than 60,000 m². The value of the investment is approximately 36 million euros.

Ana Dumitrache, Country Manager of CTP Romania, said: “CTPark Oradea Cargo Terminal represents a first national project. This is the first industrial park with an air cargo terminal, involving special infrastructure works coordinated by our construction team. We firmly believe that infrastructures are the key to industrial and logistical development and this is far from being Romania’s strong point, which is why we get involved whenever we find authorities open to sustainable developments.

“Although the project has only just started, the interest of potential tenants, users of logistics spaces, but also air freight operators, is quite strong and has resulted in a first lease contract; in parallel, we have advanced discussions for about 50% of the places available. The value of the investment in CTPark Oradea Cargo Terminal will be approximately €36 million when completed and follows our existing investments in Oradea.

CTP is the largest owner, developer and manager of logistics and industrial property in continental Europe by gross leasable area, holding over 9.3 million m2 of space in ten countries as of March 31, 2022.

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3 best jar stocks to buy right now https://bcn-stay.com/3-best-jar-stocks-to-buy-right-now/ Sat, 11 Jun 2022 10:42:00 +0000 https://bcn-stay.com/3-best-jar-stocks-to-buy-right-now/ MMost cannabis companies have seen their stocks fall so far this year as falling profits, a slowing pace of legalization and expectations have spooked investors. The AdvisorShares Pure Cannabis ETF is down more than 49% this year, while ETFMG Alternative Harvest ETF fell more than 39%. NewLake Capital Partners (OTC: NLCP), Cannacord Genuity Group (OTC: […]]]>

MMost cannabis companies have seen their stocks fall so far this year as falling profits, a slowing pace of legalization and expectations have spooked investors. The AdvisorShares Pure Cannabis ETF is down more than 49% this year, while ETFMG Alternative Harvest ETF fell more than 39%.

NewLake Capital Partners (OTC: NLCP), Cannacord Genuity Group (OTC: CCORF) and Trulieve Cannabis (OTC: TCNNF) have not been immune to investor concerns, and their stocks have also fallen, although all three are financially strong enough to last until the cannabis investment cycle swings back in their favor.

NewLake is small but growing fast

NewLake Capital Partners is the newcomer to cannabis real estate investment confidence (REIT). It just had its IPO last August, and its $455 million market cap is dwarfed by the $3.82 billion market cap of Innovative industrial properties, its main competitor. Both REITs specialize in sale-leasebacks to cannabis companies, where they provide capital to cannabis operators by buying cultivation and retail properties and then leasing them to cannabis companies with triple leases that place most of the maintenance costs on tenants.

In the first quarter, NewLake reported revenue of $10.2 million, up 13% sequentially. Net income was $5 million, compared to $4.3 million in the prior quarter. More importantly, the company continues to grow funds from operations (FFO) and said in the first quarter it had $7.7 million in FFO, up 16.2% sequentially. Adjusted FFO (AFFO) was $8.1 million, up 15.7% from the fourth quarter of 2021.

NewLake said it expects annual revenue of between $42 million and $44 million, up from $28.2 million reported in 2021. The company has 29 properties that are 100% leased and whose average lease term is 14.3 years.

NewLake’s stock is down more than 28% so far this year, but its fundamentals are strong enough that it makes sense to buy the stock while it’s discounted, especially because the company has just increased its dividend by 29% to $0.33 per share quarterly. , offering a yield of approximately 6.44%. The dividend looks safe as the company has a target of 80% to 90% of the AFFO payout ratio, considered safe for a REIT.

Cannacord Genuity is Crucial for Cannabis Businesses

Cannacord Genuity is a global investment bank that provides wealth management, brokerage and investment services to individuals, institutions and businesses. It is not a pure cannabis stock, but it frequently represents mergers and acquisitions (M&A) in cannabis.

Cannacord has had five consecutive years of increased revenue and three consecutive years of increased net profit. However, it fell in the first quarter, with $491 million in revenue, down 29.1% year over year, and $0.52 in earnings per share, down 56.7% compared to the same period last year. The drop has caused the stock to drop more than 28% this year.

It may seem counter-intuitive, but I think now is the right time to buy stocks for several reasons. It has a price-to-earnings ratio of around 4.95, well below what it should be given the stability of the business.

Mergers and acquisitions in the cannabis industry are also not expected to slow down. More profitable and better-funded companies are consolidating their licenses by buying up struggling cannabis companies. According to a study by Cannabiz Media, of the 137 cannabis M&A deals it found over the past two years, Cannacord was in the lead with 22 deals and was in the lead in representing sellers and buyers.

Even though cannabis company mergers have slowed, that’s only a small part of Cannacord’s business. It is one of the most profitable wealth management companies in Canada, with an operating margin (over 12 months) of 20.39% and a low leverage ratio of 0.095.

Cannacord also offers something most cannabis companies don’t: a quarterly dividend. It has increased its dividend by 22% this year to $0.085 per share, representing a yield of 3.2%, with a very safe cash payout ratio of 12.88%.

Trulieve will be a cannabis survivor

Trulieve, based primarily in Florida but with dispensaries in 11 states in Q1, leads all other cannabis retailers in revenue. The company reported first-quarter revenue of $318.3 million, more than $5 million higher than curafeuillethe second largest company in the revenue ranking.

Despite its size, Trulieve continues to show steady growth. Its quarterly revenue increased 64% year over year and 4% sequentially. It also improved gross margin to 56%, from 43.4% in the fourth quarter of 2021.

The only concern about Trulieve is that as it has grown through acquisitions and the opening of new retail dispensaries at 165 stores, it has gone from a profitable business to a business. who loses money. In the first quarter, it posted a net loss of $32 million, up 55% from the previous quarter, but down from the $30 million in net profit it reported in the first quarter of 2021. Much of that can be attributed to the $17.2 million in charges associated with its purchase of Harvest Health & Recreation last year.

This decline in net income is a major reason the stock has fallen more than 46% so far this year. This does, however, provide a better entry point for investors, as Trulieve is as prepared as any cannabis company to remain a major player in the industry. Last month, company insiders bought 31,650 shares of Trulieve, taking advantage of the bargain price, for now.

Looking at its adjusted EBITDA of $105.5 million, an improvement from $100.9 million in the fourth quarter, the company appears to be making progress in returning to profitability.

Trulieve also reiterated its guidance for 2022 with expected revenue in the range of $1.3 billion to $1.4 billion and Adjusted EBITDA between 450 and 500 million dollars. This compares to revenues of $938.4 million and adjusted EBITDA of $384.6 million last year.

Don’t wait too long

These three cannabis companies are too healthy to see their shares wallowing for long. Trulieve, once it absorbs its acquisition of Harvest, will likely see its margins increase, bringing it back to profitability. NewLake Capital Partners is just beginning its trail, so I see a lot of opportunities there. Cannacord has enough geographic and revenue diversity to rebound quickly. These last two stocks also offer a dividend to reward long-term investors.

This is the marijuana stock you’ve been waiting for
A little-known Canadian company has just unlocked what some experts believe is the key to profiting from the coming marijuana boom.

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Cannabis legalization is sweeping North America – 19 states plus Washington, DC, have all legalized recreational marijuana in the past few years, and full legalization came to Canada in October 2018.

And an under-the-radar Canadian company is about to explode because of this upcoming marijuana revolution.

Because a game-changing deal has just been struck between the Ontario government and this mighty company…and you need to hear this story today if you’ve even considered investing in pot stocks. .

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Jim Halley holds positions in Innovative Industrial Properties. The Motley Fool holds positions and recommends Innovative Industrial Properties and Trulieve Cannabis Corp. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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CapitaLand Investment acquires 22-storey office tower in Melbourne’s CBD https://bcn-stay.com/capitaland-investment-acquires-22-storey-office-tower-in-melbournes-cbd/ Tue, 07 Jun 2022 02:29:00 +0000 https://bcn-stay.com/capitaland-investment-acquires-22-storey-office-tower-in-melbournes-cbd/ The acquisition marks CLI’s fifth investment in Australia within six months SINGAPORE, June 7, 2022 /PRNewswire/ — CapitaLand Investment Limited (CLI) has acquired a freehold office tower in the western heart of Melbourne’s central business district for its flagship regional core-plus fund, CapitaLand Open End Real Estate Fund (COREF). This acquisition marks CLI’s fifth investment […]]]>

The acquisition marks CLI’s fifth investment in Australia within six months

SINGAPORE, June 7, 2022 /PRNewswire/ — CapitaLand Investment Limited (CLI) has acquired a freehold office tower in the western heart of Melbourne’s central business district for its flagship regional core-plus fund, CapitaLand Open End Real Estate Fund (COREF). This acquisition marks CLI’s fifth investment in Australia within six months. This is COREF’s first acquisition in Australiaand his fourth in Asia Pacific with a total investment of approximately $900 million since the creation of the fund in August 2021.

The 22-story office building, 120 Spencer Street, has a net leasable area of ​​32,000 square meters (m²). The property is strategically located opposite Southern Cross Station, a major public transport hub that connects to the greater Melbourne area, with intra-city tram lines on its doorstep. It also benefits from the recent revitalization of Western Core, led by the development of the Docklands district, the addition of new premium office towers, the refurbishment of existing assets and the migration of tenants, including many significant occupants, to the neighborhood.

M Paul Toussaintgeneral manager of AustraliaCLI, said: “Australia is one of CLI’s target markets where we see significant growth potential. CLI has invested approx. 1.5 billion Australian dollars in five of the country’s quality assets held through its private and listed funds over the past six months. 120 Spencer Street is CLI’s latest offering in Australia, sourced and executed by our experienced local team. Given the post-COVID recovery and businesses steadily returning to work, we believe the Australian office market is showing signs of growth that will overcome the short-term challenges of vacancy levels and tenant incentive. . 120 Spencer Street is well positioned to take advantage of this given its strong WALE, vibrant location benefiting from the rejuvenation of the area and potential for improvements. »

M Simon TracyCEO of Private Equity Real Estate, Real Assets, CLI, said, “Leveraging CLI’s deep expertise and extensive network in the Asia Pacificwe continue to grow COREF’s portfolio with high-quality assets in the hub cities of Japan, Singapore and now Australia. The Australian office sector presents relative value, and our highly experienced local team was able to capitalize on the window before the post-COVID recovery to seize this opportunity. CLI takes a disciplined approach to finding assets that offer value to investors. With ESG principles at the core of our investment process, we will continue to actively enhance our asset portfolio to generate quality returns for our stakeholders.”

Build a diversified portfolio of quality assets for COREF

M Kevin CheeManaging Director, Private Funds, CLI, said: “COREF’s acquisitions align with its focus on the key investment themes of regionalization/decentralization, emerging locations, evolving workspace solutions, the digital economy and sustainability. COREF’s entry into Australia is consistent with its strategy of building geographic exposure to institutional-grade income-producing assets in developed markets by Asia Pacific very early on before diversifying into other sectors.”

120 Spencer Street has a strong office occupancy rate of 97.5% and a weighted average lease term (WALE) of 6.7 years. Its tenant base includes WeWork and major local educational institutions such as Central Queensland University and Redhill Education. Longer term, the property has strong intrinsic value given its prime island location with three street frontages and a potential 22,000m² of unused gross floor area. Over the past five years, the property has suffered 30 million Australian dollars upgrades, including the recent installation of energy-efficient mechanical and engineering equipment. Since November 1, 2021, 120 Spencer Street runs entirely on green electricity and is committed to doing so for the next 10 years. It has also received the NABERS (National Australian Built Environment Rating System)[1] Energy 4-Star and NABERS Water 5.5-Star certifications.

CLI’s strong presence in several asset classes in Australia

CLI has a diversified portfolio of approximately 6.9 billion Singapore dollars of assets under management in Australia[2], comprising office, business space, logistics and accommodation assets in eight cities. CLI Australia currently manages 36 logistics properties and business parks, and two Class A office buildings. Following the completion of the acquisitions of the 120 Spencer Street office tower and the integrated development at 101-103 Miller Street, North Sydney, which includes an office tower and the Greenwood Plaza retail component[3]CLI Australia will add two more offices and a shopping center to its assets under management.

CLI’s wholly owned accommodation business unit, The Ascott Limited (Ascott) and its hotel trust, Ascott Residence Trust, has approximately 150 serviced residences, co-living properties and hotels with approximately 13,000 units in Australia. On June 2, 2022Ascott announced the acquisition of its first lyf-branded coliving property in sydneylyf Bondi Junction Sydney, via Ascott Serviced Residence Global Fund[4]. At the same time, Ascott opened its first lyf property in Australialyf CollingwoodMelbourne.

[1] NABERS is a national rating system that measures the environmental performance of Australian buildings and tenancies, initiated by the New South Wales Department of Planning, Industry and the Environment on behalf of the Federal Governments, States and territories of Australia.

[2] As of March 31, 2022. Excludes CapitaLand Integrated Commercial Trust’s (CICT) 50% interest in an integrated development, which is pending legal completion.

[3] Acquisition announced by CICT on December 23, 2021.

[4] Ascott established the US$600 million Ascott Serviced Residence Global Fund in July 2015 through a 50/50 joint venture with the Qatar Investment Authority.

About CapitaLand Investment Limited (www.capitalandinvest.com)

Based and listed at SingaporeCapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia anchoring. Like a March 31, 2022CLI had about 124 billion Singapore dollars real estate assets under management, and approximately 86 billion Singapore dollars of real estate funds under management (FUM) held via 6 sicafi and listed real estate investment funds, and 29 private funds through Asia Pacific, Europe and UNITED STATES. Its diversified real estate asset classes span integrated developments, retail, office, hospitality, business parks, industrial, logistics and data centers.

CLI aims to scale its FUM and fee-based revenue with its full suite of investment management and operations capabilities. As the publicly traded investment management business arm of CapitaLand Group, CLI has access to the development capabilities and pipeline investment opportunities of CapitaLand’s development arm. Being part of the well-established CapitaLand ecosystem sets CLI apart from other REIMs.

As part of the CapitaLand group, CLI places sustainability at the heart of what it does. As a responsible real estate company, CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

Follow @CapitaLand on social media

Facebook: @capitaland / facebook.com/capitaland
Instagram: @capitaland / instagram.com/capitaland
Twitter: @capitaLand / twitter.com/capitaland
LinkedIn: linkedin.com/company/capitaland-limited
Youtube: youtube.com/capitaland

Issued by: CapitaLand Investment Limited (Co. Regn.: 200308451M)

Important Notice

Admission and listing of CapitaLand Investment Limited on the Singapore Stock Exchange Securities Trading Limited was sponsored by JP Morgan (SEA) Limited. JP Morgan (SEA) Limited assumes no responsibility for the content of this announcement.

31630-AFM-Paul Toussaint
31630-AFM-Paul Toussaint

Copyright © acrofan All rights reserved

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