Real Estate News

Harbor Custom Development, Inc. Contracts to Acquire 106 Lots for $16,900,000 Expanding Austin Metro Housing Footprint

Gig Harbor, Washington , April 21, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ:HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has contracted to acquire 106 developed single family lots for $16,900,000 in the Summit Rock Golf Course community in Horseshoe Bay, Texas, located approximately 53 miles west of Austin.

Alpine Income Property Trust Increases Quarterly Dividend by 4.2% and Declares Dividend for the Second Quarter 2021

DAYTONA BEACH, Fla., April 21, 2021 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”) announced today that its Board of Directors has authorized, and the Company has declared, an increase in the Company’s quarterly cash dividend to $0.25 per share of common stock for the second quarter of 2021 from its previous quarterly cash dividend of $0.24 per share of common stock.

Highwoods Agrees to Acquire Office Assets from Preferred Apartment Communities, Inc.

Total Investment of $769M (Including Assumed Debt)Closing Scheduled for Third Quarter 2021

AssetStrategyMarketSubmarket/BBDSF150 FayettevilleCoreRaleighCBD560,000CAPTRUST TowerCoreRaleighNorth Hills300,000Capitol TowersCoreCharlotteSouthPark479,000Morrocroft CentreCoreCharlotteSouthPark291,000Galleria 75 Redevelopment SiteCoreAtlantaCumberland/GalleriaOffice-Related Mezzanine LoanNon-CoreAtlantaWest MidtownArmour YardsNon-CoreAtlantaBuckhead/Midtown

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Acquisition to be Funded Primarily ThroughSales of Non-Core AssetsExpects to Return Balance Sheet Metrics to Current Levels by Mid-2022_________________________________________

Plan Expected to Strengthen Long-Term Growth Trajectory Immediately Accretive to Cash FlowsNeutral to Current FFO Run Rate; Accretive over Long-Term_________________________________________

Conference Call: Monday, April 19th at 11:00 A.M.

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