Real Estate News

NewLake Capital Partners Reports Fourth Quarter and Full-Year 2022 Financial Results; Declares First Quarter 2023 Common Stock Dividend of $0.39 per Share

Fourth Quarter 2022 Revenue Totaled $12.2 Million, an increase of 35.7% Year-Over-Year

Full Year 2022 Revenue Totaled $44.8 Million, an increase of 59.6% Year-Over-Year

Fourth Quarter 2022 Net Income Attributable to Common Stockholders totaled $6.7 Million, Funds From Operations totaled $10.5 Million, and Adjusted Funds From Operations totaled $10.9 MillionFull Year 2022 Net Income Attributable to Common Stockholders totaled $22.0 Million, Funds From Operations totaled $35.2 Million, and Adjusted Funds From Operations totaled $38.7 Million

Conference Call and Webcast Scheduled for March9, 2023 at 10 a.m.

New York Mortgage Trust Completes One-for-four Reverse Stock Split

NEW YORK, March 09, 2023 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq: NYMT) (“NYMT” or the “Company”) today announced that it has completed the previously announced one-for-four reverse stock split (the “Reverse Stock Split”) of its issued, outstanding and authorized shares of common stock, par value $0.01 per share (the “Common Stock”), effective at 12:01 a.m.

Harbor Custom Development, Inc. Provides Update on Grandis Pond a 992 Unit Master Planned Community in Blaine, WA

TACOMA, Wash, March 09, 2023 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (Nasdaq: HCDI, HCDIP, HCDIW, HCDIZ) (“Harbor,” “Harbor Custom Homes®,” or the “Company”), an innovative real estate company involved in all aspects of the land development cycle, today announced that it anticipates receiving engineering approval in the fourth quarter of 2023 for the first phase of Grandis Pond, a 438-acre master-planned community in Blaine, Washington.

Chicago Atlantic Real Estate Finance Announces Fourth Quarter 2022 Financial Results

CHICAGO, March 09, 2023 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) (“Chicago Atlantic” or the “Company”), a commercial real estate finance company, today announced its results for the fourth quarter and year ended December 31, 2022.

Alexander’s to Sell Rego Park III

PARAMUS, N.J., March 08, 2023 (GLOBE NEWSWIRE) -- Alexander’s, Inc. (NYSE: ALX) announced today that it has entered into an agreement to sell the Rego Park III land parcel adjacent to its Rego Park II shopping center, located in Queens, New York, for $71million inclusive of consideration for Brownfield tax benefits and reimbursement of costs for plans, specifications and improvements to date.

Landsea Homes Reports Fourth Quarter and Full Year 2022 Results

Fourth Quarter 2022 Highlights

Home sales revenue increased 25% year-over-year to $417.5 millionTotal homes delivered increased 32% to 703 homesNet income of $25.6 million, or $0.62 per diluted share

Full Year 2022 Highlights

Home sales revenue increased 49% to $1.4 billionTotal homes delivered increased 45% to 2,370 homesNet income of $73.6 million, or $1.70 per diluted shareYear-end book value per share of $16.04

NEWPORT BEACH, Calif.

LGI Homes Opens New Community near Tucson

Red Rock Village features a stunning lineup of single-family homes priced from the low-$300s

The Snowflake plan by LGI Homes

LGI Homes at Red Rock Village offers new, move-in ready homes and world-class amenities in Red Rock, Arizona.

CTO Realty Growth Provides First Quarter 2023 Operating Update and Publishes Updated Investor Presentation

WINTER PARK, Fla., March 07, 2023 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today provided an update on its recent operating and transaction activities:

Year-to-date, signed 17 leases totaling 131,793 square feet at an average cash base rent of $20.69 per square foot.

Becknell Industrial Reports 2022 Results

INDIANAPOLIS, March 07, 2023 (GLOBE NEWSWIRE) -- Becknell Industrial announced today financial results for the year ending December 31, 2022.

Mark Shapland, Chief Executive Officer and President, said, “This past year presented a myriad of challenges to navigate - from continued inflationary pressure to uncertainty in capital markets.

FRP Holdings, Inc. (NASDAQ: FRPH) Announces Results for the Fourth Quarter and Fiscal Year Ended December 31, 2022

JACKSONVILLE, Fla., March 07, 2023 (GLOBE NEWSWIRE) -- FRP Holdings, Inc. (NASDAQ-FRPH) –

Fourth Quarter Operational Highlights

58.2% increase in pro-rata NOI ($6.26 million vs $3.96 million) over fourth quarter 20218.89% increase in rent on renewals at Dock 79 and 11.14% increase in rent on renewals at The Maren28.1% increase in mining royalty revenue over fourth quarter 202151.7% increase in Asset Management revenue versus same period last yearSale of Hickory Creek for $8.83 million on an investment of $6 millionDeal signed with Steuart Investment Company (SIC) and MidAtlantic Realty Partners (MRP) for development of ten mixed-use projects in Capitol Riverfront and Buzzard Point submarkets of Washington, DC including sale of 20% ownership interest in tenancy-in-common (TIC) of Dock 79 and The Maren for $65.3 million, $44.5 million attributable to the Company

Fourth Quarter Consolidated Results of Operations

Net income for the fourth quarter of 2022 was $2,756,000 or $.29 per share versus a net loss of $(592,000) or $(.06) per share in the same period last year.