Enters Into Cooperation Agreement with Land & Buildings
Southfield, MI, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (the “Company” and “Sun”) announced today that Jerry Ehlinger and Craig A.
Real Estate News
NASHVILLE, Tenn., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc.(NYSE: RHP) (“RHP”), a leading lodging and hospitality real estate investment trust that specializes in group-oriented, upscale convention center resorts and country music entertainment experiences, announced today it will present virtually to investors attending theWolfe Research 4th Annual Real Estate Conference onThursday, February 29, at4 p.m.
TACOMA, Wash, Feb. 16, 2024 (GLOBE NEWSWIRE) -- As previously announced, on December 11, 2023, Harbor Custom Development, Inc. (OTC PK: HCDIQ, HCDPQ, HCDWQ, HCDZQ) (collectively with certain of its wholly owned subsidiaries described below, “the Company”) voluntarily filed for protection under Chapter 11 of the United States Bankruptcy Code in the Western District of Washington at Tacoma.
BETHESDA, Md., Feb. 15, 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 and year ended December 31, 2023:
Full-Year 2023 Financial and Operational Results
Net loss was $53.0 million, or $0.61 per diluted shareNAREIT FFO was $77.8 million, or $0.88 per diluted share, up 27.9% compared to the prior yearCore FFO was $85.2 million, or $0.97 per diluted share, up 10.2% compared to the prior yearNet Operating Income (NOI) was $148.1 million, up 9.4% compared to the prior yearSame-store multifamily NOI increased by 8.3% compared to the prior year periodAverage Effective Monthly Rent per Home increased 6.5% compared to the prior year for our Same-Store PortfolioSame-store multifamily Average Occupancy was 95.6% during the year, up 0.2% compared to the prior yearFourth Quarter Financial Results
Net loss was $3.1 million, or $0.04 per diluted shareNAREIT FFO was $21.0 million, or $0.24 per diluted share, up 14.3% compared to the prior year periodCore FFO was $20.9 million, or $0.24 per diluted share, unchanged compared to the prior year periodNet Operating Income (NOI) was $38.6 million, up 4.6% compared to the prior year periodFourth Quarter Operational Highlights
Same-store multifamily NOI increased by 4.5% compared to the prior year periodEffective blended Lease Rate Growth was 2.5% during the quarter for our Same-Store Portfolio, comprised of effective new Lease Rate Growth of (2.4)% and effective renewal Lease Rate Growth of 6.2%Average Effective Monthly Rent Per Home increased 3.8% 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 95.5% during the quarter, up 0.5% compared to the prior year periodSame-store multifamily Ending Occupancy was 95.9%, up 0.7% compared to the prior year periodLiquidity Position
Available liquidity was approximately $550 million as of December 31, 2023, consisting of availability under the Company's revolving credit facility and cash on handAnnualized fourth quarter Net Debt to Adjusted EBITDA ratio was 5.5xThe Company has no debt maturities until 2025 and no secured debt"We delivered solid fourth quarter performance, closing out a year of exceptional growth," said Paul T.
SAN FRANCISCO, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today reported financial results for its fourth quarter and year ended December31, 2023.
Company announces executive leadership transitions as part of overall succession plan to strategically position the Company for future growth.
VIRGINIA BEACH, Va., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Armada Hoffler’s (NYSE: AHH) Board of Directors announces that Shawn Tibbetts, the Company’s Chief Operating Officer, has been named President.
NEW YORK, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided $15,400,000 in Bridge-to-Agency financing for a five-property multifamily portfolio in Texas.
180 Brigham Road
PHILADELPHIA, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE:BDN) announced today that its Board of Trustees has declared a quarterly cash dividend of $0.15 per common share and OP Unit payable on April 18, 2024 to holders of record on April 4, 2024.
VERO BEACH, Florida, Feb. 14, 2024 (GLOBE NEWSWIRE) -- ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR PRC) (“ARMOUR” or the “Company”) today announced the Company's preliminary unaudited fourth quarter 2023 ("Q4") results and December 31, 2023 financial position.