Real Estate News

Elme Communities Announces Second Quarter 2024 Results

BETHESDA, Md., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Elme Communities (the “Company”) (NYSE: ELME), a multifamily REIT with communities in the Washington, DC metro area and the Atlanta metro area, reported financial and operating results today for the quarter ended June 30, 2024:

Financial Results

Net loss was $3.5 million, or $0.04 per diluted shareNAREIT FFO was $20.4 million, or $0.23 per diluted shareCore FFO was $20.5 million, or $0.23 per diluted shareNet Operating Income (NOI) was $38.1 million

Operational Highlights

Same-store multifamily NOI increased by 1.3% compared to the prior year periodEffective blended Lease Rate Growth increased to 3.2% for our Same-Store Portfolio during the quarter, comprised of effective new Lease Rate Growth of 0.2% and effective renewal Lease Rate Growth of 5.4%Average Effective Monthly Rent Per Home increased 2.5% compared to the prior year period for our Same-Store PortfolioSame-store Retention was 65% while achieving strong renewal Lease Rate GrowthSame-store multifamily Average Occupancy was 94.6% during the quarter, down 0.8% compared to the prior year period and up 0.2% compared to the prior quarter.

Regency Centers Reports Second Quarter 2024 Results

JACKSONVILLE, Fla., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency Centers”, “Regency” or the “Company”) (Nasdaq: REG) today reported financial and operating results for the period ended June30, 2024 and provided updated 2024 earnings guidance.

Alpine Income Property Trust Announces Updated Year-To-Date 2024 Transaction Activity

WINTER PARK, Fla., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”) today announced updated year-to-date 2024 investment and disposition activities.

Opendoor Announces Second Quarter of 2024 Financial Results

SAN FRANCISCO, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today reported financial results for its second quarter ended June30, 2024.

Mainstay, a Comprehensive Market Intelligence Platform for the Single-Family Rental Industry, Launches as an Independent Company from Opendoor

Company Secures Funding Round Led by Khosla Ventures

SAN FRANCISCO, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Mainstay (“Company”), formerly Open Exchange, a comprehensive market intelligence and transaction platform for the single-family rental industry, today announced its launch as an independent, privately-held company, marking its separation from Opendoor Technologies Inc.

Retransmission — MacKenzie Realty Capital, Inc. Announces initiation of tender offer for Starwood REIT

ORINDA, Calif., Aug. 01, 2024 (GLOBE NEWSWIRE) -- MacKenzie Realty Capital, Inc. (OTCQX: MKZR) (“MacKenzie” or the “Company”) is announcing that it has today, together with its affiliates, launched a tender offer to purchase up to 700,000 Class S Shares of Starwood Real Estate Income Trust (“Starwood”) for $17.50 per Share, an approximate 24% discount to Starwood’s estimated net asset value of $22.94 as of May 31, 2024.

Local Developer Takes Critical First Step To Add Housing to Eastern Waterfront in South Portland, Maine

Yard South Submits Zone Change Application to the City

South Portland, ME, Aug. 01, 2024 (GLOBE NEWSWIRE) -- After six years of community outreach, planning and studies, and feedback following a 2022 pre-app meeting, the Yard South development team announced that a formal zoning application to create a dynamic mixed-use neighborhood was submitted to the City of South Portland.

Greystone Provides $74.6 Million in Fannie Mae DUS® Financing for Multifamily Property in Fort Worth, Texas

NEW YORK, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a $74,576,000 Fannie Mae Delegated Underwriting & Servicing (DUS®) loan to refinance a 672-unit multifamily property in Burleson, Texas.

Southern Realty Trust Originates $42.0 Million Senior Loan for the Thompson Hotel in San Antonio

WEST PALM BEACH, Fla., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Southern Realty Trust Inc. (“SRT” or the “Company”) today announced that it originated and an affiliate of SRT agented a senior loan in the aggregate amount of $42.0 million for the refinancing of the Thompson San Antonio Hotel (the “Project”).

Sunrise Realty Trust Commits $27.3 Million in a Senior Loan for the Thompson Hotel in San Antonio

WEST PALM BEACH, Fla., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) today announced that it has committed $27.3 million of which the Company funded $25.0 million in a $42.0 million senior loan for the refinancing of the Thompson San Antonio Hotel (the “Project”).