Sale and leaseback – Last Jeudi http://lastjeudi.org/ Mon, 26 Sep 2022 23:42:40 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://lastjeudi.org/wp-content/uploads/2021/03/cropped-icon-1-32x32.png Sale and leaseback – Last Jeudi http://lastjeudi.org/ 32 32 Churchill Downs Incorporated completes acquisition of Ellis Park in Henderson, Kentucky https://lastjeudi.org/churchill-downs-incorporated-completes-acquisition-of-ellis-park-in-henderson-kentucky/ Mon, 26 Sep 2022 20:06:11 +0000 https://lastjeudi.org/churchill-downs-incorporated-completes-acquisition-of-ellis-park-in-henderson-kentucky/ LOUISVILLE, Ky., September 26, 2022 (GLOBE NEWSWIRE) — Churchill Downs Inc. (“CDI” or “the Company”) (Nasdaq: CHDN) today announced that the Company has completed the previously announced purchase of Ellis Park Races and Games (“Ellis Park”) in Henderson, Ky.for a cash consideration of $79 million, subject to certain working capital and other purchase price adjustments. […]]]>

LOUISVILLE, Ky., September 26, 2022 (GLOBE NEWSWIRE) — Churchill Downs Inc. (“CDI” or “the Company”) (Nasdaq: CHDN) today announced that the Company has completed the previously announced purchase of Ellis Park Races and Games (“Ellis Park”) in Henderson, Ky.for a cash consideration of $79 million, subject to certain working capital and other purchase price adjustments. By acquiring Ellis Park, CDI also offers itself the possibility of building a track extension facility with historic racing machines in Owensboro, Kentucky.

“Our team is already hard at work in both Henderson and Owensboro,” said Bill Carstanjen, CEO of CDI. “In the coming days, we look forward to sharing more about our plans to invest in racing infrastructure at Ellis Park and to significantly improve the stock market through the Owensboro historic racing opportunity.

The purchase of Ellis Park by CDI follows the approval of the transaction by the Kentucky Horse Racing Commission. The transaction was financed with cash on hand and through the Corporation’s existing credit facility.

About Ellis Park

Ellis Park, located north of the Ohio River and just south of Evansville, Indiana, celebrated 100 years of racing this year. In addition to being recognized as the historic home of summer Thoroughbred racing in KentuckyEllis Park also has a game room with around 300 historic racing machines.

About Churchill Downs Inc.

Churchill Downs Inc. is a leading racing, online betting and gaming entertainment company rooted in our iconic flagship event, the kentucky derby. We own and operate five gaming entertainment venues with approximately 4,200 historic racing machines in Kentucky. We also own and operate TwinSpires, one of the largest and most profitable online betting platforms for horse racing in the WE and we have eight retail sportsbooks. We are also a leader in land-based casino games in eight states with approximately 11,800 slot machines and video lottery terminals and 250 table games. www.churchilldownsincorporated.com

This press release contains various “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified by the use of terms such as “anticipate”, ” believe”, “could”, “estimate”, “expect”, “intend”, “may”, “could”, “plan”, “predict”, “project”, “seek”, “must”, “will”, ” and similar words or similar expressions (or negative versions of these words or expressions).

Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot guarantee that these expectations will prove to be correct. Important factors, among others, that could materially affect actual results or results include the following: the receipt of regulatory approvals on desired or anticipated terms, unforeseen transaction difficulties or expenses proposed transaction, including, without limitation, difficulties that result in failure to realize the expected synergies, efficiencies and cost savings of the proposed transaction within the expected time frame (if any), our ability to obtain financing on the terms and schedule anticipated, disruptions to our or P2E’s current plans, operations and relationships with customers and suppliers caused by the announcement and expectation of the proposed transaction, our ability and that of P2E to complete a sale-leaseback transaction regarding the Hard Rock Sioux City on desired or anticipated terms, the impact of the novel coronavirus (COVID- 19), including the emergence of variant strains and related economic issues on our opera results financial conditions and outlook; the occurrence of extraordinary events, such as terrorist attacks, threats to public health, civil unrest and severe weather; the effect of economic conditions on our consumers’ confidence and discretionary spending or our access to credit; additional or increased taxes and fees; the impact of significant competition and the expectation of increased levels of competition; changes in consumer preferences, footfall, betting and referrals; loss of key or highly qualified personnel; lack of confidence in the integrity of our core businesses or any damage to our reputation; risks associated with equity investments, strategic alliances and other agreements with third parties; inability to respond to rapid technological changes in a timely manner; concentration and evolution of slot machine and HRM manufacturing and other technological conditions that could impose additional costs; inability to negotiate agreements with industry constituents, including riders and other racetracks; inability to successfully focus on market access and retail operations for our Sports TwinSpires and casino operations and compete effectively; failure to identify and/or complete acquisitions, divestitures, development of new sites or expansions of existing facilities on time, within budget or as planned; general risks relating to real estate ownership and significant expenditures, including fluctuations in market values ​​and environmental regulations; reliance on our technology services and catastrophic events and system failures disrupting our operations; online security risks, including cybersecurity breaches, or the loss or misuse of our stored information as a result of a breach, including customers’ personal information, could result in enforcement action. law by government or other litigation; personal injury litigation relating to injuries occurring at our racetracks; compliance with the Foreign Corrupt Practices Act or applicable money laundering regulations; payment risks, such as the risk associated with fraudulent use of credit and debit cards; work stoppages and labor issues; risks related to pending or future legal proceedings and other actions; highly regulated operations and changes in the regulatory environment could adversely affect our business; restrictions on our credit facilities limiting our flexibility to operate our business; non-compliance with financial ratios and other covenants of our credit facilities and other indebtedness; and the increase in our costs of insurance, or obtaining similar insurance coverage in the future, and the inability to recover under our insurance policies damage to our properties from inclement weather and of disasters.

We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Investor contacts: Nick Zangari Media Contact: Tonya Abeln
(502) 394-1157 (502) 386-1742
Nick.Zangari@KyDerby.com Tonya.Abeln@KyDerby.com

main logo

Source: Churchill Downs Inc.

2022 GlobeNewswire, Inc., source Press Releases

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The last passenger Boeing 767: where is it flying? https://lastjeudi.org/the-last-passenger-boeing-767-where-is-it-flying/ Sat, 24 Sep 2022 06:00:00 +0000 https://lastjeudi.org/the-last-passenger-boeing-767-where-is-it-flying/ At the time of this article’s publication, the newest Boeing 767 is a -300F variant that was delivered to Denmark’s Maersk Air on September 20. Indeed, Boeing has been producing and delivering the jumbo jet on a regular basis since 1982. However, for the past eight and a half years, the American manufacturer has produced […]]]>

At the time of this article’s publication, the newest Boeing 767 is a -300F variant that was delivered to Denmark’s Maersk Air on September 20. Indeed, Boeing has been producing and delivering the jumbo jet on a regular basis since 1982. However, for the past eight and a half years, the American manufacturer has produced only freighters and military tankers using the 767 platform. So which airline finally took the last passenger 767? And where is it flying in 2022? We’ll take a look!

SIMPLEFLYING VIDEO OF THE DAY

The last passenger 767

The latest passenger 767 is a 767-300ER registered EI-KEC and operated by Kazakh airline Air Astana. This cell has MSN 42223 and line number 1068 and is almost eight and a half years old.

In June 2014, this aircraft was delivered fresh from the Boeing factory to Air Astana under the registration P4-KEC and was configured with 30 business class seats and another 193 economy class seats. Indeed, the twinjet widebody has been flying for Air Astana ever since, and continues to do so to this day.

In its approximately eight years of service, there have only been two notable changes to this jet:

  • First, in 2020 it was reconfigured to be a “preighter” (passenger-cargo). With its passenger seats removed, the airline was used to carry cargo in the main cabin. This lasted until August 2021, when her original passenger layout was restored.
  • The second change, if you haven’t noticed it yet, is his change in registration (although he flies for the same airline). The aircraft had its Aruban “P4” prefix swapped for Ireland’s EI prefix. This change took place in May 2022 and could indicate either a sale-leaseback transaction or a change in ownership – or simply the owner’s decision to change aircraft registry. It’s hard to give specifics, but ch-aviation.com says the plane is owned by Zhetysu Aviation Ltd, which apparently is (or was) a Kazakh airline.

As of May 2022, the jet had accumulated 29,267 flight hours out of 8,095 flight hours. The busiest year for this 767 was 2019, when it racked up 4,550 flight hours over 1,156 cycles. Its activity for 2020 was less than half of the figures for 2019.

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Where does the airplane fly these days?

So, if you want to find out what the Boeing 767, the youngest passenger, looks like, where to book a flight? Well, according to FlightRadar24.com, the plane appears to be based in Almaty, Kazakhstan (ALA). From there, the jet operates a service to the following destinations:

  • Antalya (AYT)
  • Nur-Sultan (NQZ)
  • Seoul Incheon (ICN)

From around mid-August to September 2, the aircraft flew exclusively between Nur-Sultan (NQZ) and Frankfurt (FRA) – returning almost once a day.

EI-KEC is joined by two other 767 passengers in the Air Astana fleet. These were built slightly before EI-KEC and have identical seating configurations. The order for all these aircraft was placed in March 2012 and was initially to consist of four 767-300ERs and three 787-8s. At the time, it was the largest commercial aircraft order in Kazakhstan’s history.

Have you flown a Boeing 767 lately? Share your experiences by leaving a comment!

Sources: Planespotters.net, FlightRadar24.com, BOE Family Flights, ch-aviation.com, Boeing

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Montecito Acquires Orthopedic Property in Mississippi | Company https://lastjeudi.org/montecito-acquires-orthopedic-property-in-mississippi-company/ Thu, 22 Sep 2022 17:32:32 +0000 https://lastjeudi.org/montecito-acquires-orthopedic-property-in-mississippi-company/ NASHVILLE, TN–(BUSINESS WIRE)–Sept. 22, 2022– Montecito Medical, a leading medical office owner in the United States, has completed the acquisition of a 49,500 square foot medical office building in Flowood, Mississippi. This press release is multimedia. View the full press release here: https://www.businesswire.com/news/home/20220921005800/en/ Montecito Medical Real Estate acquires Capital Ortho in Flowood, Mississippi (Photo: Business […]]]>

NASHVILLE, TN–(BUSINESS WIRE)–Sept. 22, 2022–

Montecito Medical, a leading medical office owner in the United States, has completed the acquisition of a 49,500 square foot medical office building in Flowood, Mississippi.

This press release is multimedia. View the full press release here: https://www.businesswire.com/news/home/20220921005800/en/

Montecito Medical Real Estate acquires Capital Ortho in Flowood, Mississippi (Photo: Business Wire)

The building, which opened in 2018, is 100% leased to Capital Ortho, a practice group with locations in the Jackson area. The property includes an outpatient surgery center with four operating rooms as well as clinical services for orthopedics and physiotherapy.

“It was a pleasure to work directly with management and the physician-owners on this sale-leaseback acquisition,” said Tyler Rhoades, Director of Acquisitions at Montecito. “We are excited to add another strong orthopedic asset to our growing portfolio in the South and excited to further expand our presence in Mississippi.”

Capital Ortho, which has been serving the area since 1990, is a well-established group with 11 surgeons, 11 physician assistants and nurse practitioners, and 12 physical therapists. The group uses the Flowood property as its hub and has other offices in Madison and Clinton, Mississippi, as well as several satellite locations in the area.

“We were drawn to the fundamentals of this innovative orthopedic group and are excited to partner with the physicians at Capital Ortho as they continue to grow as a practice,” said Chip Conk, CEO of Montecito Medical.

“I want to thank Tyler, Chip and everyone at Montecito for their hard work and cooperation in bringing this deal to fruition,” said Jeff Bedford, CEO of Capital Ortho. “It was a pleasure to work with Montecito on this transaction.”

About Montecito Medical

Montecito Medical is one of the nation’s largest privately held companies specializing in healthcare-related real estate acquisitions and medical real estate development financing. Montecito is a premier resource for medical real estate owners and healthcare providers looking to monetize or expand their holdings. Since 2006, she has completed transactions across the United States involving more than $5 billion in medical real estate. Based in Nashville, TN, Montecito has been named a “Key Influencer in Healthcare Real Estate” for four consecutive years byGlobeSt.comand the editors of Real Estate Forum. Company CEO Chip Conk has been named Healthcare Real Estate Director of the Year 2021 by Healthcare Real Estate Insights. For more information about Montecito Medical, please visitwww.montecitomac.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220921005800/en/

CONTACT: Brandi Meeks

Vice President of Marketing

bmeeks@montecitomac.com

KEYWORD: MISSISSIPPI TENNESSEE UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: HEALTH OTHER CONSTRUCTION & REAL ESTATE PRACTICE MANAGEMENT COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & REAL ESTATE GENERAL HEALTH REIT

SOURCE: Montecito Medical

Copyright BusinessWire 2022.

PUBLISHED: 09/22/2022 1:31 PM / DISK: 09/22/2022 1:32 PM

http://www.businesswire.com/news/home/20220921005800/en

Copyright BusinessWire 2022.

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City of Muncie buys downtown YMCA building for $500,000 https://lastjeudi.org/city-of-muncie-buys-downtown-ymca-building-for-500000/ Wed, 21 Sep 2022 03:22:00 +0000 https://lastjeudi.org/city-of-muncie-buys-downtown-ymca-building-for-500000/ MUNCIE, Ind. – The YMCA of Muncie has sold its downtown facility to the City of Muncie for $500,000. Working on the construction of a new state-of-the-art community recreation center, the Downtown Y sold its building to the city with a leaseback clause. The sale was finalized at the Muncie Redevelopment Commission meeting on September […]]]>

MUNCIE, Ind. – The YMCA of Muncie has sold its downtown facility to the City of Muncie for $500,000.

Working on the construction of a new state-of-the-art community recreation center, the Downtown Y sold its building to the city with a leaseback clause. The sale was finalized at the Muncie Redevelopment Commission meeting on September 15.

Plans include consolidating downtown and northwest facilities into a single location across from Muncie Central High School.

In a press release, Muncie Y President and CEO Chad Zaucha said he hopes the new facility will help drive economic momentum within the community, including the potential to grow the value of neighboring properties.

“Partnering with the city in this sale made sense,” Zaucha said in a press release. “The YMCA and the City of Muncie share common goals in unity: as a multi-faceted organization, the Y serves all segments of the community, providing everyone with a place to belong.

“[The purchase was] an important investment for the community,” said Mayor Dan Ridenour.

“Yeah, we might have to tear down if that’s what ends up happening, but I think we’d probably put out a full RFP (RFP) and get RFPs and see what people want,” Ridenour said during the redevelopment meeting. “Some may want to put up apartments…I would love for another IT or software company to move in. You know, there’s all kinds of stuff.”

The sale paves the way for the YMCA’s next step in its new facility project, plans that were announced last year.

“The existing downtown facility was built over 40 years ago, and the needs of the community are very different now than they were then,” Zaucha said in the press release. “The new facility will be easily accessible to the community and will provide more space for our growing youth programs, intergenerational gathering places and more.

The sale was approved by a 4 to 1 vote, with Commissioner Isaac Miller voting against. It’s likely the new facility won’t be complete for a few years, but the Downtown Y will continue to operate from the current building through the sale-leaseback agreement with the city.

Contact Alex Almanza with comments at aalmanza@bsu.edu

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Clenera closes financing for the 105 MWdp Apex Solar project in Montana https://lastjeudi.org/clenera-closes-financing-for-the-105-mwdp-apex-solar-project-in-montana/ Sun, 18 Sep 2022 19:22:28 +0000 https://lastjeudi.org/clenera-closes-financing-for-the-105-mwdp-apex-solar-project-in-montana/ Clenera announced the closing of construction and tax equity financing for the 105 MWdc Apex Solar project located in Beaverhead County, Montana. Power generated from the solar facility will provide NorthWestern Energy’s Montana customers with additional carbon-free energy through a long-term power purchase agreement. Renewable energy credits generated by the project […]]]>



Clenera announced the closing of construction and tax equity financing for the 105 MWdc Apex Solar project located in Beaverhead County, Montana.

Power generated from the solar facility will provide NorthWestern Energy’s Montana customers with additional carbon-free energy through a long-term power purchase agreement. Renewable energy credits generated by the project will be sold separately, providing additional revenue to the project.

Bank of America, one of the largest global banks in the United States and leader in the financing of renewable energy projects in the United States, and NORD/LB, a German bank active in the financing of renewable energies in Europe and in the United States, will finance the project through a construction loan.

“This transaction marks another significant milestone in the development of solar and clean energy and is an integral part of Bank of America’s broader $1.5 trillion commitment to sustainable finance by 2030,” said said Omer Farooq, managing director of the Global Sustainable Finance Group at Bank of America.

“Clenera has a strong pipeline of future renewable energy projects, and we look forward to growing our relationship with them,” said Nicolai Dillow, head of structured finance for NORD/LB’s New York branch.

Huntington National Bank, one of the largest regional banks in the United States and a highly experienced lender in sale-leaseback financing, will provide long-term financing via fiscal sale-leaseback financing for Apex Solar after the operations commercial.







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Blue Owl Capital Inc. (NYSE:OWL) Receives Consensus “Moderate Buy” Recommendation from Analysts https://lastjeudi.org/blue-owl-capital-inc-nyseowl-receives-consensus-moderate-buy-recommendation-from-analysts/ Sat, 17 Sep 2022 08:11:38 +0000 https://lastjeudi.org/blue-owl-capital-inc-nyseowl-receives-consensus-moderate-buy-recommendation-from-analysts/ Blue Owl Capital Inc. (NYSE:OWL – Get Rating) has been assigned an average rating of “moderate buy” by the nine rating agencies that cover the company, reports MarketBeat.com. Two investment analysts rated the stock with a hold recommendation and seven gave the company a buy recommendation. The 12-month average target price among brokers who have […]]]>

Blue Owl Capital Inc. (NYSE:OWL – Get Rating) has been assigned an average rating of “moderate buy” by the nine rating agencies that cover the company, reports MarketBeat.com. Two investment analysts rated the stock with a hold recommendation and seven gave the company a buy recommendation. The 12-month average target price among brokers who have issued ratings on the stock over the past year is $16.63.

A number of stock analysts have commented on OWL shares. Deutsche Bank Aktiengesellschaft began covering shares of Blue Owl Capital in a research note on Monday, September 12. They set a “buy” rating and a target price of $19.00 on the stock. JPMorgan Chase & Co. assumed coverage for Blue Owl Capital stocks in a Thursday, July 7, research report. They have set a “neutral” rating and a price target of $13.00 for the company. Goldman Sachs Group raised its price target on Blue Owl Capital shares from $13.75 to $15.50 and gave the company a “buy” rating in a Monday, August 8 research report. Finally, JMP Securities assumed coverage for Blue Owl Capital stocks in a Wednesday, June 8 research report. They set an “outperform” rating and a price target of $18.00 for the company.

Insider Activity at Blue Owl Capital

In related news, major shareholder Blue Pool Capital Ltd sold 223,800 shares of Blue Owl Capital in a transaction that took place on Thursday July 28th. The shares were sold at an average price of $11.22, for a total value of $2,511,036.00. Following the completion of the transaction, the insider now owns 48,402,243 shares of the company, valued at $543,073,166.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. During the last quarter, insiders sold 2,561,716 shares of the company worth $31,406,162. Company insiders hold 31.19% of the company’s shares.

Institutional entries and exits

A number of institutional investors have recently changed their positions in OWL. Quantbot Technologies LP acquired a new position in Blue Owl Capital in the first quarter for a value of approximately $33,000. Steph & Co. bought a new position in Blue Owl Capital in the first quarter worth about $61,000. American International Group Inc. bought a new position in Blue Owl Capital in the second quarter for a value of approximately $63,000. ACG Wealth bought a new position in Blue Owl Capital in the second quarter worth approximately $74,000. Finally, Advisor Group Holdings Inc. increased its stake in Blue Owl Capital by 57.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 8,428 shares of the company worth $125,000 after acquiring 3,086 additional shares in the last quarter. Institutional investors and hedge funds hold 27.92% of the company’s shares.

Blue Owl Capital Price Performance

OWL shares opened at $10.90 on Friday. The company’s 50-day moving average is $11.42 and its two-hundred-day moving average is $11.78. Blue Owl Capital has a 12 month minimum of $9.52 and a 12 month maximum of $17.89. The company has a market cap of $15.23 billion, a PE ratio of -54.50, a price-to-earnings growth ratio of 0.54, and a beta of 1.08.

Blue Owl Capital increases its dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 29. Investors of record on Monday August 22 received a dividend of $0.11. The ex-dividend date was Friday, August 19. This represents a dividend of $0.44 on an annualized basis and a dividend yield of 4.04%. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.10. Blue Owl Capital’s payout rate is -220.00%.

About Blue Owl Capital

(Get a rating)

Blue Owl Capital Inc operates as an asset manager. It offers permanent capital solutions that enable it to offer a holistic platform to middle market companies, large alternative asset managers and corporate real estate owners and tenants. The Company provides direct lending products that offer private credit products including diversified, technology, senior and opportunistic loans to middle market companies; GP Capital Solutions products, which provide capital solutions, including GP minority equity investments, GP debt financing and professional sports minority investments to large private equity managers; and real estate products focused on structuring sale-leaseback transactions, which include triple net leases.

See also

Analyst Recommendations for Blue Owl Capital (NYSE: OWL)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

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Bluebird Nordic Holding to Create Indonesian Cargo Carrier | New https://lastjeudi.org/bluebird-nordic-holding-to-create-indonesian-cargo-carrier-new/ Tue, 13 Sep 2022 10:44:58 +0000 https://lastjeudi.org/bluebird-nordic-holding-to-create-indonesian-cargo-carrier-new/ The holding company of Icelandic cargo carrier Bludbird Nordic has established a new operation in Indonesia, which will perform services under a separate Air Operator’s Certificate. The new carrier, BBN Airlines Indonesia, was established by BBN Cargo Airlines Holdings in late August. It will manage cargo services at Soekarno-Hatta Airport in Jakarta. BBN Cargo Airlines […]]]>

The holding company of Icelandic cargo carrier Bludbird Nordic has established a new operation in Indonesia, which will perform services under a separate Air Operator’s Certificate.

The new carrier, BBN Airlines Indonesia, was established by BBN Cargo Airlines Holdings in late August.

It will manage cargo services at Soekarno-Hatta Airport in Jakarta.

BBN Cargo Airlines Holdings says the expansion decision follows growing demand for air cargo transportation over the past decade. Air transport is also particularly important for the Indonesian island territories.

“With the growth of exports and imports and the rapidly expanding trend of e-commerce, Indonesia has a bright future for its air cargo and logistics industry,” said Commissioner of BBN Cargo Airlines Holdings, Martynas Grigas.

Grigas – formerly of Air Baltic and MRO company FL Technics Indonesia – says the development of the new carrier is a “great opportunity”.

“Indonesia is the largest and fastest growing internet economy and is expected to account for half of all e-commerce transactions in Southeast Asia by 2025,” he said. declared.

BBN Airlines Indonesia aims to obtain its carrier license by the end of this year and hopes to obtain its air operator certificate in the second quarter of next year.

It has yet to disclose operational details, but Bluebird Nordic uses a fleet of Boeing 737 freighters, including different variants, including the -800.

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GHG Partner David Sudeck Recognized as a Pioneer in Real Estate and Construction Law — Hospitality Law Blog — September 9, 2022 https://lastjeudi.org/ghg-partner-david-sudeck-recognized-as-a-pioneer-in-real-estate-and-construction-law-hospitality-law-blog-september-9-2022/ Fri, 09 Sep 2022 18:26:52 +0000 https://lastjeudi.org/ghg-partner-david-sudeck-recognized-as-a-pioneer-in-real-estate-and-construction-law-hospitality-law-blog-september-9-2022/ September 09, 2022 Find out how JMBM’s Global Hospitality Group® can help you. GHG partner David Sudeck recognized as a pioneer in real estate and construction law Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce that real estate partner David Sudeck has been recognized in the National Law Review 2022 List of […]]]>

September 09, 2022

Find out how JMBM’s Global Hospitality Group® can help you.

GHG partner David Sudeck recognized as a pioneer in real estate and construction law

Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce that real estate partner David Sudeck has been recognized in the National Law Review 2022 List of Real Estate/Construction Law Pioneers.

This list honors legal professionals who have made a significant impact on practice, policy and technological advancement in their sector.

“David’s legal expertise and excellent client service have been essential to the success of Global Hospitality Group and the firm as a whole,” said Jim Butler. “We are thrilled that he has received this recognition as a Trailblazer.”

Sudeck is a seasoned trader with an international reputation as an expert in hospitality projects. He provides essential business and legal advice to owners and lenders in connection with the purchase, sale, development, construction, financing, leasing and sale-leaseback of hotels, resorts resort and mixed-use properties, including structuring complex hotel management and branding deals.

In 2021, David and his team at JMBM’s Global Hospitality Group® closed over $210 million in Commercial Property Assessed Clean Energy (C-PACE) loans and in 2022 helped structure the largest C-PACE transaction ever in the USA. His pioneering work in this area has led him to represent the best lenders in the industry. As David said at National Law Review“[C-PACE financing] has been a critical part of the capital stack… Borrowers have accepted that this is low cost, non-recourse financing.

To read David’s profile, click here.

About JMBM

Jeffer Mangels Butler & Mitchell LLP is a full-service law firm committed to providing our clients with exceptional results. From our offices in Los Angeles, San Francisco and Orange County, we serve the needs of our customers around the world. For more information about our lawyers and our services, visit JMBM.com.

About the National Law Review

The National Law Review is a monthly magazine that publishes daily online and is owned by American Lawyer Media, ALM. The magazine reports nationally significant legal information for attorneys, including federal circuit court decisions, verdicts, practitioners’ columns, coverage of legislative issues, and legal news for the private and commercial sectors.


David Sudeck is a senior member of JMBM’s Global Hospitality Group® and JMBM’s Real Estate Department. His practice focuses on the complex issues associated with large commercial real estate projects, particularly those involving hotels, resorts and mixed-use projects.

David is a seasoned real estate lawyer and negotiator with an international reputation for his expertise on projects with a hotel component, and he focuses in particular on providing practical advice on critical brand management and deal issues. He is also widely recognized for providing top-notch business and legal advice to hotel owners and lenders on the purchase, sale, development, construction, financing, leasing and sale-leaseback of properties.

When not working on traditional senior or mezzanine debt financings for owners or lenders, David is likely working on creative joint ventures or “alternative” financings of commercial properties rated as Clean Energy (C-PACE) or EB- 5, as head of the firm’s C-PACE and EB-5 Finance Groups. Over the past 12 months, David and his team have closed over $350 million in C-PACE financings, and David has been involved in nearly all of the $1.5 billion in EB-5 financings the company has has managed. David also serves on the Public Policy Committee of IIUSA, the EB-5 industry trade group for regional centers.

Contact David at +1-310-201-3518 or DSudeck@jmbm.com


Photo by Jim ButlerJim Butler is one of the founders of the JMBM law firm and president of its real estate department. He founded and chairs the firm’s Global Hospitality Group®, which provides business and legal advice to owners, developers and investors of commercial real estate, particularly hotels, resorts, restaurants, spas, residences for the elderly and complex mixed-use projects. This advice includes buying, selling, development, financing, franchising, management, labor and employment, litigation, ADA, intellectual property, and specialty financing such as commercial properties valued as clean energy (C-PACE) and EB-5 questions for these properties.

Jim is recognized as one of the top hotel lawyers in the world and has led the Global Hospitality Group® in over $112 billion in hotel transactions and over 4,500 hotel properties located worldwide. They have assisted clients with over 2,500 hotel management and hotel franchise agreements and over 100 mixed-use hotel projects.

The JMBM team has closed over $350 million in C-PACE funding and advised over 100 EB-5 projects, closed over $1.5 billion in EB-5 funding and provided over half to our customers. EB-5 Investors magazine named Jim one of the top 25 EB-5 attorneys in the United States, and Jim serves on the Public Policy Committee of IIUSA, the EB-5 industry trade group for centers. regional.

Contact Jim at +1-310-201-3526 or jbutler@jmbm.com to discuss how we can help you.


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Flexential to Build 54MW Data Center in Portland – Commercial Property Executive https://lastjeudi.org/flexential-to-build-54mw-data-center-in-portland-commercial-property-executive/ Wed, 07 Sep 2022 21:11:52 +0000 https://lastjeudi.org/flexential-to-build-54mw-data-center-in-portland-commercial-property-executive/ Installing Hillsboro 3. Image courtesy of Flexential. A new data center will soon open in Portland, in the growing Oregon market. Flexibleone of the region’s largest providers, announced the construction of a fourth facility at its Hillsboro campus, bringing an additional 54 megawatts of computing capacity to market. Citing growing customer demand, Flexible acquired a […]]]>
Installing Hillsboro 3. Image courtesy of Flexential.

A new data center will soon open in Portland, in the growing Oregon market. Flexibleone of the region’s largest providers, announced the construction of a fourth facility at its Hillsboro campus, bringing an additional 54 megawatts of computing capacity to market.

Citing growing customer demand, Flexible acquired a newly constructed building in which it will develop its data center. When construction is complete, the data room will measure 138,000 square feet. A fifth facility is also planned on the same plot and is currently being designed.

Data center operator-developer aims to meet sustainability metrics such as Power Use Efficiency (PUE) of 1.4 and Water Use Efficiency (WUE) ) from zero, in line with the company’s green financing framework. The new development will benefit from a Portland General Electric substation that was built on campus.

Flexential will build its new data center adjacent to its existing Hillsboro2 facility, which is a critical interconnect point for North America as it is the US point of presence for the New Cross transpacific submarine cables Pacific and Hawaii, providing low latency direct connectivity. between the United States and the Asia-Pacific region. Besides these two direct connections, Hillsboro is also the landing point for four other undersea cables.

The new development will also extend the company’s FlexAnywhere services platform, offering hybrid IT solutions, such as hosted private cloud, multi-tenant private cloud, managed private cloud and disaster recovery as a service ( DRAAS). Flexential’s fourth data center will offer densities of up to 1,500 watts per square foot, on par with its existing Hillsboro facility. Flexential will offer connections to leading hyperscale cloud providers, such as Amazon Web Services, Microsoft Azure and Google.

“Data gravity is a key driver of expansion,” said Ryan Mallory, COO of Flexential. CPE. “The shift from on-premises enterprise data centers to platform providers that enable their customers to find, act on, and buy the largest Tier 1 entities is a key driver. This enables hybrid cloud consumption, a full suite of “as-a-service” products, as well as network services, a trend expected to continue for the foreseeable future. »

National growth

Flexential is on track to exceed its 2022 goal of delivering 33 megawatts of new sustainable data center capacity to its markets. The company is currently targeting regions where it is a market leader, such as Denver and Atlanta, in addition to Hillsboro.

Last year, the company teamed up for the second time with Legacy investment and Invesco Real Estate with a sale-leaseback of its 18 megawatt facility in Plano, Texas. Flexential used the proceeds from this transaction to build a 130,000 square foot expansion in the market. By the end of this year, Flexential aims to operate more than 220 megawatts across 3 million square feet of data center space in its 19 markets.

According JLL research, Hillsboro is quickly becoming one of the largest data center markets in the United States. In June, the region’s supply (563.7 megawatts) was up 32% year-on-year. Demand is outstripping supply, with vacancy at a historic low of 3%, with pre-letting the norm and new development opportunities rare.

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Coles Toowoomba hits the market https://lastjeudi.org/coles-toowoomba-hits-the-market/ Sun, 04 Sep 2022 23:28:14 +0000 https://lastjeudi.org/coles-toowoomba-hits-the-market/ 9.74 year old WALE Fully leased net operating income of $1,433,918 per year Opened in July 2020 Private investors are expected to punt a regional shopping center in Queensland as Coles Toowoomba hits the market about two years after it opened. The full-range stand-alone Coles Supermarket and Liquorland opened in July 2020 and is supported […]]]>
  • 9.74 year old WALE
  • Fully leased net operating income of $1,433,918 per year
  • Opened in July 2020

Private investors are expected to punt a regional shopping center in Queensland as Coles Toowoomba hits the market about two years after it opened.

The full-range stand-alone Coles Supermarket and Liquorland opened in July 2020 and is supported by a specialist food and drink retailer.

The property

The Coles Shopping Center has an initial 10-year net lease with eight five-year options. It has a WALE of 9.74 in revenue and a fully leased net operating income of $1,433,918 per year.

GLA’s 3,756 m² are located on 1,536 hectares of land and include 187 parking spaces. The property is expected to see significant interest due to the Coles lease:

“Investors continue to target investment in high-performing supermarkets and neighborhood shopping malls, as the supermarket lease structure provides investors with a natural inflationary hedge due to the potential for supermarket turnover to lease. Coles’ investments are viewed by investors as top-notch as they feature a popular net-lease structure that pays turnover rental for online sales,” said James Wilson of Colliers.

“We anticipate exceptional levels of interest from primarily private capital for Coles Toowoomba, as pent-up demand for the brand new investments in QLD’s stand-alone supermarkets has built up since the last ‘sale and divestment’ transaction. -lease’ registered in 2019.”

The area

Expected to grow by 55,000 people by 2051, Toowoomba is about 1.5 hours from Brisbane and is Australia’s second most populous inland city.

“Toowoomba plays an important role as a major economic and service delivery hub for the Darling Downs. Currently experiencing an influx of major infrastructure developments totaling over $14 billion and conveniently located 90 minutes from Brisbane, Toowoomba stands to benefit from continued growth and increased competitive advantage in the commercial and residential markets,” said said Collier’s Dan Dwan.

A 100% interest in the property is offered for sale via Expressions of Interest closing September 28, 2022.

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