SHANGHAI, Aug. 1, 2024 /PRNewswire/ -- Marriott International, Inc. recently announced that it has signed an agreement with Zhong An Commercial Group, part of China New City Group, to bring the W Hotels brand to Hangzhou. Anticipated to open in 2031, W Hangzhou will be located at the northwest intersection of Minhe Road and Liyi Road in Qianjiang Century City, Hangzhou's developing new CBD. With its bold, detail-driven design, elevated service, and engaging always-on programming, the hotel is poised to beco ...

Core Insights - City Office REIT, Inc. reported a GAAP net loss of approximately $5.6 million for Q2 2024, with a core FFO of about $11.5 million, indicating ongoing challenges in profitability despite some positive leasing activity [2][3][34]. Financial Performance - Total rental and other revenues for the quarter were $42.3 million, down from $44.6 million in the same quarter of the previous year [2][34]. - The company declared a cash dividend of $0.10 per share for common stock and $0.4140625 per share for Series A Preferred Stock, both paid on July 24, 2024 [13][14]. - The net loss attributable to common stockholders was $5.6 million, or $0.14 per diluted share, compared to a loss of $2.5 million, or $0.06 per diluted share, in Q2 2023 [35]. Leasing Activity - The company executed approximately 269,000 square feet of new and renewal leases during the quarter, with renewal cash rents increasing by 4.3% compared to expiring rents [2][5]. - New leases signed had a weighted average lease term of 6.3 years at an effective annual rent of $25.95 per square foot [8]. Portfolio Operations - As of June 30, 2024, the total portfolio consisted of 5.6 million net rentable square feet, with an occupancy rate of 83.0%, or 87.3% including signed leases not yet occupied [4][5]. - Same Store Cash NOI decreased by 2.0% year-over-year for the three months ended June 30, 2024 [4]. Capital Structure - The company had total principal outstanding debt of approximately $652.4 million, with about 90% of the debt being fixed rate or effectively fixed due to interest rate swaps [9]. - The weighted average interest rate on the debt was 5.0%, with a weighted average maturity of approximately 2.3 years [9]. Strategic Initiatives - The CEO highlighted the company's focus on strategic property upgrades and enhancing the balance sheet, with the highest quarterly new leasing activity since the pandemic [3]. - The company successfully renewed its last two 2024 property-level debt maturities, extending maturities by two and five years [3]. Disposition of Real Estate - The company transferred its Cascade Station property in Portland, Oregon, to the lender, reducing total debt outstanding by $20.6 million and recognizing a net loss of $1.5 million on the transaction [12].

DALLAS, July 30, 2024 (GLOBE NEWSWIRE) -- Applied Digital Corporation (Nasdaq: APLD) ("Applied Digital" or the "Company"), a designer, builder, and operator of next-generation digital infrastructure designed for High-Performance Computing (HPC) applications, announced today that it has met the conditional approval requirements related to the release of the escrowed funds from the sale of its Garden City, Texas facility. The Company has now received the remaining $25 million of the purchase price held in esc ...

RYE, N.Y., July 30, 2024 (GLOBE NEWSWIRE) -- Gabelli Funds, LLC, is hosting our annual Aerospace & Defense Symposium at The Harvard Club in New York City on September 5th. The conference will draw top executives from more than ten companies, with a focus on the themes of strong demand outlook, high barriers to entry, large aftermarket opportunity, growth in excess of GDP, defense spending, and M&A potential for the Aerospace and Defense industry. Attendees will also have the opportunity to meet with managem ...

VINELAND, N.J., July 30, 2024 (GLOBE NEWSWIRE) -- The City of Vineland, New Jersey has recently reached the milestone of over $1 million in surplus property auction sales conducted on GovDeals, the leading online auction marketplace for government agencies, educational institutions, and related agencies to sell surplus assets. According to Jeanine N. Meneghettie, the city's Qualified Purchasing Officer, "Reallocating surplus assets and transforming them into additional resources for serving our community is ...

As a 125-year-old community bank, this expansion highlights the Bank's commitment to providing personalized banking services, including mortgage, commercial and agricultural lending, insurance, and wealth management solutions to customers throughout the region. Bank of Botetourt has a rich history of serving the banking needs of individuals and businesses, and the new office will provide an opportunity for Bank of Botetourt to be a valuable member of Roanoke City. The new office will be staffed by experienc ...

Dividend Information - Quarterly dividend of $0.19 per share declared on outstanding Common Shares [3] - Dividend payable on Oct 28, 2024 to holders of record as of Sept 27, 2024 [1] - Dividend qualifies as "eligible" under Canadian Income Tax Act and provincial/territorial legislation [1] Company Overview - CPKC is the first and only single-line transnational railway connecting Canada, US, and México [2] - Global headquarters located in Calgary, Alberta, Canada [2] - Operates approximately 20,000 route miles with 20,000 employees [2] - Provides access to major ports from Vancouver to Atlantic Canada to Gulf of México [2] Business Operations - Offers freight transportation services, logistics solutions, and supply chain expertise [2] - Provides unparalleled rail service and network reach across North America [2] - Company is growing alongside its customers [2]

Introduction commitments and I'd like to take action before it's too late. VAL 6.02 City Office REIT Inc (CIO) Price 18.00 12.00 0.00 Jan '22 Jul '22 Jan '23 Jul '23 Jan '24 Jul '24 Seeking Alpha X Jul 25, 2024, 8:32 PM EDT Powesed by YC H A R T S Data by Y Charts As I only own the preferred shares, this article will be written from the perspective of a preferred shareholder. There are two elements I care about the most: 1) is the preferred dividend well-covered and 2) does the balance sheet pose a risk? CU ...

KANSAS CITY, Mo., July 26, 2024 /PRNewswire/ -- Kansas City Life Insurance Company recorded net income of $4.7 million or $0.49 per share in the second quarter of 2024 compared to net income of $4.5 million or $0.46 per share in the second quarter of 2023. Net income totaled $6.3 million or $0.65 per share in the first six months of 2024, up from $1.2 million or $0.13 per share in the first six months of 2023. Kansas City Life Insurance Company (OTCQX: KCLI) was established in 1895 and is based in Kansas Ci ...

KANSAS CITY, Mo., July 25, 2024 /PRNewswire/ -- Kansas City Life Insurance Company (the "Company") announced that the Board of Directors has appointed Eileen M. Hutchinson to the Board effective July 22, 2024, to fill an unexpired term. Ms. Hutchinson will also join the Audit Committee. Ms. Hutchinson will fill the vacancy on the Board created by the retirement of Cecil R. Miller. The term of the vacancy expires in April 2025. Since her retirement from GEHA, Ms. Hutchinson has served on the board of directo ...