Core Insights - The City of Bentonville, AR is resuming virtual auctions for surplus assets in partnership with GovDeals, enhancing efficiency and global reach compared to traditional methods [1][2] - The partnership has generated over $429,000 in sales since its inception, with $142,000 earned in the previous year alone, highlighting the financial advantages of online auctions [2] Company Overview - GovDeals is a leading online marketplace for surplus government and educational assets, offering a range of items from heavy equipment to real estate [4] - The platform allows government agencies to sell surplus assets in a transparent manner, providing sellers with more control and lower fees compared to traditional auction methods [4] - GovDeals is operated by Liquidity Services, a trusted company in the surplus industry, which supports millions of customers globally [4]

Core Points - Jefferson County Public Schools is conducting its first online surplus auction for a daycare building in Louisville, utilizing GovDeals as the platform for this transaction [1][3] - The auction includes a building of 8,935 square feet and 3.286 acres of land, totaling 143,138 square feet, constructed in 1995 [2] - The initiative aims to efficiently manage surplus property and reduce operational costs by reaching a wider audience through online exposure [3] Company Overview - GovDeals is recognized as the leading marketplace for surplus government and educational assets, offering a range of items from real estate to heavy equipment [4] - The platform allows sellers to manage their listings with greater control and lower fees compared to traditional auction methods, enhancing transparency in the surplus asset disposition process [4] - GovDeals is operated by Liquidity Services, a company known for supporting customers in the circular economy globally [4]

VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) -- American Hotel Income Properties REIT LP (“AHIP”, or the “Company”) (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB. V), today announced its financial results for the three months ended March 31, 2025. All amounts presented in this news release are in United States dollars (“U.S. dollars”) unless otherwise indicated. 2025 FIRST QUARTER HIGHLIGHTS Completed the dispositions of three hotel properties for total gross proceeds of $41.2 million at a blended Cap ...

Financial Data and Key Metrics Changes - Total revenue for the quarter was approximately $57 million, with cash NOI around $46 million [12] - Net loss attributable to common shareholders was approximately $49.4 million, or $1.35 per share, including a noncash impairment of about $52 million related to potential asset sales in the office segment [12] - Same store cash NOI increased by 5.8% in the industrial segment and 3.1% in the office segment, resulting in an overall increase of 4% compared to the same quarter last year [12] - Core FFO and AFFO were both approximately $24.6 million, or $0.62 per share on a fully diluted basis [12] Business Line Data and Key Metrics Changes - The industrial segment's ABR increased by $2.4 million quarter over quarter, driven by a 10% rise in AVR from iOS properties [4] - Industrial segment ABR represented 41% of total ABR at quarter end and 43% on a pro forma basis after accounting for office dispositions [5] - Significant leasing activity included a fully leased iOS redevelopment property in Everett, Washington, contributing approximately $1.7 million in incremental ABR [5][6] Market Data and Key Metrics Changes - The company has closed approximately $144 million in office asset sales year to date, with strong investor demand for office assets [5][9] - Office properties with more than five years of remaining term are generally priced on a cap rate basis between 7.5% and 12.5% on in-place NOI [10] - The company has completed over $2 billion in office sales across more than 30 markets over the past three years [9] Company Strategy and Development Direction - The company is transitioning to an industrial REIT, focusing on growth in the industrial outdoor storage (iOS) subsector [4] - The strategy includes reshaping the portfolio through targeted iOS growth initiatives and strategic asset sales, primarily in the office segment [4] - The company aims to divest office assets to reallocate capital to higher growth opportunities within the iOS space and reduce leverage [18] Management's Comments on Operating Environment and Future Outlook - Management believes high-quality iOS properties in supply-constrained markets present significant long-term growth opportunities [18] - The company expects to continue paying dividends quarterly, with future decisions made by the board of trustees [17] - Management is optimistic about the future and is actively engaged in the marketplace during the transition [56][57] Other Important Information - The company introduced two new reporting metrics: core FFO and adjusted EBITDAre to enhance comparability in evaluating ongoing performance [11] - Total liquidity at quarter end was approximately $336 million, consisting of cash and available revolver capacity [13] - The weighted average interest rate for all debt remains at 4.4%, with 88% of the debt fixed [16] Q&A Session Summary Question: Can you help us think about the ABR at the remaining five iOS sites? - Management indicated that they are not providing specific guidance on ABR ranges due to the variety of locations but are comfortable with the ranges previously indicated [20][21] Question: What are you seeing in the market regarding additional acquisition opportunities? - Management noted a balanced approach to growth and leverage, with a good pipeline of individual deals and portfolios being evaluated [22][24][25] Question: What is your target leverage and timeline for bringing it down to a comfortable level? - Management's target leverage is in the six times range or below, and they are currently at 6.8 times after recent asset sales [32][33] Question: What will determine how much you push the gas on office dispositions? - Management stated that dispositions are evaluated on a case-by-case basis, focusing on maximizing shareholder value and achieving favorable pricing [36][38] Question: What characteristics differentiate office assets at the lower end of the cap rate range versus the higher end? - Management explained that the differentiation generally comes down to lease duration and specific property characteristics [42][43] Question: How would you characterize tenant demand in the IOS segment? - Management reported stable demand, with interest from tenants willing to take properties as is, and no significant changes in demand since acquiring the properties [49][51]

Diversified Healthcare Trust (DHC) Q1 2025 Earnings Call May 06, 2025 10:00 AM ET Speaker0 Good morning and welcome to Healthcare Trust First Quarter twenty twenty five Earnings Conference Call. All participants will be in listen only mode. After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded. I would now like to turn the call over to Matt Murphy, Manager of Investor Relations. Please go ahead. Speaker1 Good morning. Joining me on today's call a ...

Rayonier (RYN) Q1 2025 Earnings Call May 01, 2025 10:00 AM ET Company Participants Collin Mings - VP, Capital Markets and Strategic PlanningMark Mchugh - President & CEOApril Tice - Senior VP & CFODouglas Long - Executive VP & Chief Resource OfficerMatt McKellar - Vice PresidentKetan Mamtora - Director - Building Products Equity Research Conference Call Participants Anthony Pettinari - Analyst Operator Courtney. Did you guys have the Welcome, and thank you for joining Rayonier's First Quarter twenty twenty ...

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $27 million for the first quarter, a 39% decline compared to the prior year quarter, primarily due to lower results in the Southern Timber and Real Estate segments [8][9][14] - The net loss attributable to Rayonier was $3 million, or $0.02 per share, reflecting a challenging start to the year [13][14] - Cash available for distribution (CAD) decreased to $20 million from $31 million in the prior year period, driven by lower adjusted EBITDA [14][17] Business Line Data and Key Metrics Changes - In the Southern Timber segment, adjusted EBITDA was $27 million, down 21% in harvest volumes and 19% in weighted average net stumpage realizations [9][18] - The Pacific Northwest Timber segment saw adjusted EBITDA increase to $6 million, despite an 18% decrease in harvest volumes, due to lower costs and higher net stumpage realizations [10][22] - The Real Estate segment generated adjusted EBITDA of $2 million, down from $5 million in the prior year, attributed to fewer acres sold [11][26] Market Data and Key Metrics Changes - The Southern Timber segment faced challenging market conditions, with a 21% decline in harvest volumes and a 19% decrease in weighted average stumpage prices due to softer demand and increased salvage volume [9][19] - In the Pacific Northwest, average delivered domestic sawlog pricing increased by 7% to $91 per ton, driven by stronger demand from sawmills [22] - The overall market for timber remains impacted by economic uncertainty, with expectations for improved pricing in the second half of the year as salvage volume declines [20][34] Company Strategy and Development Direction - The company is focused on enhancing shareholder value through the sale of its New Zealand business for $710 million, which will allow for capital concentration in core U.S. markets [4][5] - Rayonier plans to use at least 50% of the sale proceeds to reduce leverage and return capital to shareholders through share repurchases and a special dividend [6][7] - The company aims to streamline its portfolio and capitalize on growth opportunities in the U.S. timber market while reducing exposure to log export markets [5][6] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for improved market conditions in the second half of the year as salvage efforts moderate and operating conditions normalize [10][34] - The company anticipates full-year adjusted EBITDA guidance of $215 million to $235 million, excluding New Zealand operations, reflecting a generally stable outlook despite a slow start [12][29] - Management highlighted the long-term potential for growth in housing starts and lumber demand, despite current economic uncertainties [70][71] Other Important Information - The company has completed or announced asset dispositions totaling $1.45 billion, exceeding its original target of $1 billion [8] - The weighted average cost of debt was approximately 2.4%, with no debt maturities until 2026, positioning the company well for future capital allocation [17] Q&A Session Summary Question: How significant are labor constraints in logging and hauling today? - Management acknowledged that labor is a constant concern but noted improvements in productivity and sufficient labor availability to meet current demand [40][42] Question: Can you provide more color around the attractiveness of options for the New Zealand proceeds? - Management indicated that share repurchases remain a compelling use of capital, with $280 million remaining on the current repurchase authorization [43][44] Question: What is the outlook for lumber prices in response to higher Canadian import duties? - Management reported positive sentiment among sawmill customers, with some mills looking to secure more volume and potential price increases observed in recent negotiations [50][54] Question: Can you provide an update on natural climate solutions? - Management confirmed ongoing efforts in carbon capture and solar initiatives, with optimism about future developments in these areas [76][80]