Real Estate News

WashREIT Announces Second Quarter 2021 Results and Updates Progress on Transformation

WASHINGTON, July 29, 2021 (GLOBE NEWSWIRE) -- Washington Real Estate Investment Trust (“WashREIT” or the “Company”) (NYSE: WRE), a leading owner and operator of multifamily properties in the Washington, DC area, reported financial and operating results today for the quarter ended June 30, 2021:

Second Quarter Results

Net loss was $7.0 million, or $0.08 per diluted shareNAREIT FFO(1) was $20.6 million, or $0.24 per diluted shareCore FFO was $30.1 million, or $0.35 per diluted shareNet Operating Income (NOI)(2) was $25.1 millionSame-store(3) multifamily NOI declined 2.0% compared to the second quarter of 2020, due to the impact of COVID-19 on lease rates

Multifamily Highlights

New lease rates improved significantly during June and thus far in July, with weekly rate growth on new lease executions improving by over 10% over the last seven weeks on a gross basis.

CTO Realty Growth Reports Second Quarter 2021 Operating Results

DAYTONA BEACH, Fla., July 29, 2021 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced its operating results and earnings for the quarter ended June 30, 2021.

International Land Alliance Announces Closing of $2.0 Million Private Placement

SAN DIEGO, CALIFORNIA, July 29, 2021 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB: ILAL), (“ILA” or the “Company”), an international land investment and development firm, today announced the closing of its previously announced private placement with a single institutional investor for the purchase of 3,000,000 shares of its common stock at a purchase price per share of $0.68.

Highwoods Closes Acquisition of Office Assets from Preferred Apartment Communities, Inc.

$683M Total Investment

AssetStrategyMarketSubmarket/BBDSF150 FayettevilleCoreRaleighCBD560,000CAPTRUST TowerCoreRaleighNorth Hills300,000Capitol TowersCoreCharlotteSouthPark479,000Morrocroft CentreCoreCharlotteSouthPark291,000Galleria 75 Redevelopment SiteCoreAtlantaCumberland/Galleria

RALEIGH, N.C., July 29, 2021 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has closed the acquisition of a portfolio of office assets from Preferred Apartment Communities, Inc.

Arbor Realty Trust Reports Second Quarter 2021 Results and Increases Quarterly Dividend to $0.35 per Share

Company Highlights:

Diversified operating platform with a multifamily focus that continues to produce strong distributable earnings and dividends in all cycles GAAP net income of $0.51 and distributable earnings of $0.45 per diluted common share1Raised cash dividend on common stock to $0.35 per share, our fifth consecutive quarterly increaseRaised $440 million of accretive growth capital: $223 million from offering of 6.375% Series D preferred stock, using $93 million to redeem our Series A, B and C preferred stock (8.14% on a weighted-average basis)$172 million from issuance of 5.00% senior unsecured notes due in 2026$138 million through issuance of common shares Continued focus on improving funding sources, increasing warehouse capacity$1.27 billionGAAP book value of$10.97, or $11.35 per common share adjusted for $61.0 million of CECL general reserves

Agency Business:

Segment income of $34.7 millionLoan originations of $1.31 billion and a servicing portfolio of over $26 billionClosed our second private label securitization totaling $450 million

Structured Business:

Segment income of $43.1 millionPortfolio growth of 18% on record loan originations of $1.84 billionClosed a $815 million collateralized securitization vehicle, our largest to date

UNIONDALE, N.Y.

United Real Estate Group Reports Second Quarter 2021 Results with Industry-Leading Growth in Revenues, Gross Margin and Earnings; Company Raising 2021 FY Guidance

Record-Setting Results Driven by Strong Organic Growth of Existing Operations and Expansion of United’s Network That Leverages United’s Proprietary Bullseye™ Technology Productivity Platform

DALLAS, July 30, 2021 (GLOBE NEWSWIRE) -- United Real Estate Group announced today better-than-guidance performance for all key financial and operational performance indicators across each of its business units through June 30th, 2021.

FRP Holdings, Inc. Announces Release Date for Its 2021 Second Quarter Earnings and Details for the Earnings Conference Call

JACKSONVILLE, Fla., July 30, 2021 (GLOBE NEWSWIRE) -- FRP Holdings, Inc. (NASDAQ: FRPH) anticipates issuing its second-quarter earnings results on Monday, August 2, 2021.

Lincoln Property Company and Cadillac Fairview Kickstart Multifamily Fund Acquisitions with Alexan Earl in Arlington, VA

The Earl Apartments in Arlington, VA

Lincoln Property Company and Cadillac Fairview Close on Acquisition of Alexan Earl in Arlington, VA

CORRECTION — Retail Opportunity Investments Corp. Reports Second Quarter 2021 Results

SAN DIEGO, July 28, 2021 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today, please note that the time of the conference call on Thursday, July 29 has been corrected to 12:00 p.m.

CorePoint Lodging Announces Timing of Second Quarter 2021 Earnings Release and Conference Call

IRVING, Texas, July 28, 2021 (GLOBE NEWSWIRE) -- CorePoint Lodging Inc. (NYSE: CPLG) (“CorePoint” or the “Company”) today announced that the Company plans to report financial results for the second quarter of 2021 after the market closes on Thursday, August 5, 2021.