FREEHOLD, NJ, Oct. 07, 2025 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH; TASE: UMH) closed on the acquisition of a manufactured home community, located in Albany, Georgia for a total purchase price of $2.6 million. This community contains 130 developed homesites, of which 32% are occupied. The community is situated on 43 acres. Samuel A. Landy, President and Chief Executive Officer, commented, “We are pleased to complete the acquisition of Albany Dunes, further expanding our footprint in the Georgia ...

Accretive Transaction Marks Expansion of Strategic Gaming Management RelationshipWYOMISSING, Pa., Oct. 01, 2025 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (“GLPI”) today announced that it intends to acquire the real estate assets of Sunland Park Racetrack & Casino (“Sunland Park”). GLPI will acquire the real estate assets of Sunland Park for $183.75 million, at an initial 8.2% cap rate. With the inclusion into the Strategic Gaming Leases, annual rent on the lease will escalate at ...

Core Viewpoint - Kadestone Capital Corp. has entered into a purchase agreement to acquire a subsidiary of Attollo Management Inc. for a total consideration of C$12 million, which will be satisfied by issuing 12 million common shares at a price of C$1.00 per share [1][2][4]. Acquisition Details - The acquisition is expected to close by December 31, 2025, and no later than June 30, 2026, subject to customary closing conditions and regulatory approvals [2]. - The acquisition is conditional on entering into a binding definitive agreement for one or both of two residential and mixed-use real estate development projects in the Greater Vancouver area [2]. Strategic Importance - This acquisition represents a significant milestone for Kadestone, enhancing its pipeline of opportunities in the British Columbia real estate market with high-potential development assets [4]. - The acquisition aligns with Kadestone's vision to develop innovative, community-focused real estate projects [4]. Leadership and Experience - David Negrin, a renowned real estate executive, will ensure the transfer of assets and projects from Attollo, bringing over three decades of leadership experience in the Canadian real estate and construction industry [5][6]. - Negrin has previously overseen significant developments, including over 1 million square feet in partnership with First Nations [6]. Related Party Transaction - The acquisition constitutes a "related party" transaction as David Negrin is a current director of Kadestone and will be the sole beneficial shareholder of Attollo on the closing date [8]. - Kadestone intends to rely on exemptions from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101 [8]. Shareholder Impact - Following the closing, David Negrin is expected to beneficially own over 20% of Kadestone's common shares, thus becoming a Control Person as defined by TSX-V policies [9][10]. - The company plans to obtain written consent from disinterested shareholders holding more than 50% of the current issued shares prior to closing [10]. Company Overview - Kadestone focuses on the investment, acquisition, development, and management of residential and commercial properties, operating five complementary business lines [12]. - The company aims to become a market-leading vertically integrated property company [12].

Acquisition Details - Cousins Properties has acquired The Link, a 292,000 square foot lifestyle office property in Dallas, for $218 million [1] - The property is located in the Uptown submarket of Dallas, built in 2021, and is currently 93.6% leased with a weighted average lease term of over nine years [1] Funding Strategy - The acquisition will be funded through excess proceeds from Cousins' unsecured senior note offering during the second quarter, along with the settlement of common shares previously issued under the Company's ATM program and/or potential future asset dispositions [2] Company Growth and Strategy - The CEO of Cousins Properties expressed excitement about expanding in Dallas, particularly in the Uptown submarket, highlighting the acquisition as a growth opportunity that is immediately accretive to earnings [3] - Over the past nine months, the company has acquired over $1 billion of lifestyle office properties, indicating a strong balance sheet and financial flexibility [3] Company Overview - Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT) based in Atlanta, GA, primarily investing in Class A office buildings in high growth Sun Belt markets [4] - Founded in 1958, the company focuses on creating shareholder value through expertise in development, acquisition, leasing, and management of high-quality real estate assets [4]

Acquisition Details - UMH Properties, Inc. has acquired two manufactured home communities in Conowingo, Maryland for a total purchase price of $14.625 million, consisting of 191 developed homesites with 79% occupancy [1][2] - The acquisition includes Maybelle Manor, a fully occupied community with 49 sites, and Conowingo Court, a value-add community with 142 sites, of which 101 are homeowner occupied [3] Operational Efficiency - The acquisition expands UMH's footprint in the Maryland market and is expected to create operational efficiencies, leading to higher returns [2] - The company plans to implement its typical business plan to increase occupancy rates and property-level value over time [3] Year-to-Date Performance - Year to date, UMH has completed the acquisition of four communities, totaling 457 sites for a total purchase price of $39.2 million, indicating a strong acquisition pipeline moving forward [4] - UMH Properties, Inc. operates 143 manufactured home communities with approximately 26,700 developed homesites across multiple states [4]

Financial Data and Key Metrics Changes - The company reported funds from operations (FFO) of $0.28 and adjusted funds from operations (AFFO) of $0.32 per diluted share for Q1 2025 [12] - The annual AFFO guidance remains on track to achieve between $1.20 and $1.22 per share [6] - The weighted average interest rate on outstanding debt is 4.4% with a weighted average maturity of three years [13] Business Line Data and Key Metrics Changes - Occupancy rate is at 99.8%, with significant visibility into future leasing [4] - 32% of the portfolio will have ten-year lease durations, and 56% will contain annual rent escalations once all leases for 2025 and 2026 are executed [10] - In Q1 2025, the company acquired 36 properties for approximately $16 million at a 7.6% weighted average cap rate [11] Market Data and Key Metrics Changes - The company anticipates acquisition volume for the year to be between $80 million and $90 million, maintaining a targeted cap rate of 7.5% or above [6] - Cap rates have remained stable, with Q1 closing at 7.6% [28] Company Strategy and Development Direction - The company is focused on a multi-tiered programmatic approach with the Postal Service to enhance leasing efficiency and drive internal growth [5] - The strategy includes acquiring properties using operating partnership units, which has resulted in 11% of acquisitions since IPO being completed with these units [8] - The company aims to strengthen its position as a market leader in postal real estate by acquiring new assets and improving cash flow [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the value of their properties to the Postal Service's mission and the visibility of cash flows [9] - There is ongoing dialogue with Congress regarding the Postal Service, but no material updates have been shared [18][20] - The company remains optimistic about future opportunities arising from potential changes in the Postal Service's budget and efficiency [20] Other Important Information - The company raised approximately $3 million in equity through an ATM offering program [14] - The Board of Directors approved a quarterly dividend of $0.02 per share, representing a 1% increase from the previous year [15] Q&A Session Summary Question: Can you provide the gap in cash leasing spreads on the '25 lease renewals? - Management stated they historically do not provide leasing spreads but have been sharing same-store numbers [17] Question: Can you elaborate on the productive conversations in Washington DC regarding DOGE and USPS? - Management indicated that they are monitoring developments but noted that there have been no significant updates [18][19] Question: What is the potential figure for the overall portfolio to have annual increases by year-end? - Management clarified that 56% of the portfolio will contain rent escalations once all leases are executed [24] Question: What cap rates are being observed in the marketplace currently? - Management noted that cap rates have remained stable, with expectations to close the year at or above 7.5% [28] Question: How is the company underwriting properties in light of potential government reductions in real estate footprint? - Management emphasized the importance of acquiring properties that are critical to the Postal Service's operations [32] Question: What percentage of acquisitions were funded with OP units in 2024? - Management indicated that on average, 10-15% of deal flow involves OP units, depending on various factors [40]