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How Yieldstreet's real estate bets left customers with massive losses
CNBC Television· 2025-08-18 15:45
So, just to set the table a little bit, Yield Street is probably the best known of this wave of startups that promised the retail investor access to these esoteric assets like real estate, uh, you know, litigation proceeds, things like that, private equity, private credit. And what I found digging into their actual results, Frank, is that, you know, you mentioned these 30 deals, uh, and so 23 of them have already got the watch list, which is essentially saying they could default. Four have actually defaulte ...
When invest like the 1% fails: How Yieldstreet’s real estate bets left customers with massive losses
CNBC Television· 2025-08-18 12:34
Global Management. >> Welcome back to Worldwide Exchange. A startup claiming to help investors get into big time real estate, private credit and litigation deals is now raising some serious concerns from investors.CNBC's Hugh Son breaking the story about Yield Street. This story just published on CNBC. com just a few minutes ago.Of 30 deals being reviewed by CNBC. Four have been declared total losses by Yield Street. 23 are quote on the watch list.Yield Street says some of the real estate investments have b ...
Baltic Horizon Fund publishes its NAV for July 2025
Globenewswire· 2025-08-15 10:30
Key Points - The net asset value (NAV) per unit of the Baltic Horizon Fund increased to EUR 0.6772 at the end of July 2025, up from EUR 0.6766 as of June 30, 2025 [1] - The total net asset value of the Fund at month-end was EUR 97.2 million, compared to EUR 97.1 million as of June 30, 2025 [1] - The EPRA NRV as of July 31, 2025, was EUR 0.7222 per unit [1] - The consolidated net rental income for July 2025 remained stable at EUR 1.0 million, the same as in June 2025 [1] Financial Position - At the end of July 2025, the Fund's consolidated cash and cash equivalents increased to EUR 7.5 million from EUR 7.1 million as of June 30, 2025 [2] - The increase in cash was attributed to the opening of the Apollo Plaza first-floor area, which generated additional monthly inflows, and effective debt recovery measures [2] - The total consolidated assets of the Fund were EUR 239.3 million as of July 31, 2025, up from EUR 238.8 million as of June 30, 2025 [2]
NERA's Q2 Earnings Improve Y/Y on Portfolio Expansion, Stock Down 1%
ZACKS· 2025-08-14 18:46
Core Insights - New England Realty Associates Limited Partnership (NEN) reported a decline in share price of 0.7% following its earnings report for Q2 2025, contrasting with a 1.7% increase in the S&P 500 index during the same period [1] - The company achieved earnings per share of $35.59, an increase from $34.77 in the same quarter of the previous year [1] Financial Performance - Revenues for the quarter reached $21.2 million, reflecting a 5.9% increase from $20.1 million year-over-year [2] - Rental income rose by 6% to $21 million, while laundry and sundry income decreased by 3.3% to $0.2 million [2] - Net income was reported at $4.2 million, up 1.9% from $4.1 million a year earlier [2] - Income from unconsolidated joint ventures increased significantly by 51% to $0.5 million [2] Operational Metrics - Occupancy rates for residential properties improved to 2.4% as of August 1, 2025, compared to 1.5% a year earlier [3] - Commercial property vacancy increased to 4.6% from 1% in the prior-year period [3] - Average rent increases were recorded at 4.6% for renewals and 1.4% for new leases during the quarter [3] Management Commentary - Management emphasized steady rental growth and disciplined cost control, with income before other income and expense rising by 8% year-over-year [4] - Interest income saw a decline of 33.7% to $0.7 million due to the liquidation of U.S. Treasury bill investments for property acquisitions [4] - Interest expense increased by 6.1% to $4.1 million, partly due to new borrowings related to these acquisitions [4] Revenue Drivers - The revenue increase was primarily driven by higher rental rates across various properties, including Westgate Apartments and Hamilton Green Apartments [5] - Expense trends indicated increased taxes, insurance costs, and higher renting expenses, offset by lower depreciation and maintenance costs [5] - Contributions from joint ventures significantly boosted earnings [5] Future Outlook - The company anticipates a moderating rental market for the remainder of 2025, expecting slower rent growth [6] - The completion of the 72-unit Mill Street Development project in Woburn, MA, is expected in the fourth quarter, viewed as a key addition to the portfolio [6] Recent Developments - On June 18, 2025, the company acquired Hill Estates in Belmont, MA, for $172 million, along with two nearby commercial properties for $3 million [7] - These acquisitions were financed through the sale of U.S. Treasury bills, a $40 million draw on the Master Credit Facility, and a $67.5 million interim mortgage loan [7] - The company continued construction on the Mill Street Development, with total investment to date at $28.1 million [7] - A quarterly distribution of $12.00 per unit was approved, and refinancing of the 81 Essex Street loan maturing in October 2025 was initiated [7] - The company repurchased 533 Depositary Receipts between July 1 and August 8, 2025, under its active buyback program [7]
Madison Pacific Properties Inc. announces the results for the six months ended June 30, 2025, appointment of President and CEO, appointment of director and declares dividend
Globenewswire· 2025-08-14 00:05
Core Viewpoint - Madison Pacific Properties Inc. reported strong financial results for the first half of 2025, showing significant growth in net income and operational performance compared to the previous year [3]. Financial Performance - The company reported a net income of $22.4 million for the six months ended June 30, 2025, compared to $13.6 million for the same period in 2024, reflecting a year-over-year increase of 64.7% [3]. - Cash flows from operating activities before changes in non-cash operating balances were $6.0 million, slightly down from $6.3 million in the previous year [3]. - Earnings per share increased to $0.30 from $0.23 year-over-year [3]. - The net gain on fair value adjustments for investment properties was approximately $21.9 million, up from $9.7 million in the prior year [3]. Investment Properties - As of June 30, 2025, the company owns approximately $741 million in investment properties, an increase from $724 million as of December 31, 2024 [4]. - The investment portfolio consists of 54 properties with around 2.0 million rentable square feet of industrial and commercial space, and a 50% interest in eight multi-family rental properties totaling 239 units [5]. - The occupancy rates are high, with 97.95% of industrial and commercial space leased and 99.16% of multi-family residential properties leased [5]. Leadership Changes - Dino Di Marco will be appointed as President & CEO effective September 1, 2025, bringing extensive experience from his previous role as Chief Financial Officer [7]. - John DeLucchi will continue as Chairman of the Board, and Robert Pringle has been appointed as a new director, contributing his extensive background in banking and leadership [9]. Dividend Announcement - The company announced a dividend of $0.0525 per share on Class B voting common shares and Class C non-voting shares, payable on September 3, 2025, to shareholders of record on August 25, 2025 [10].
Caliber Reports Second Quarter 2025 Results
Globenewswire· 2025-08-13 20:15
Core Insights - The company is on track to achieve platform adjusted EBITDA profitability in the second half of 2025 [1][3] - The second quarter results reflect a positive step towards this goal, with a focus on hospitality, multifamily, and multi-tenant industrial real estate [3][6] - Recent legislative changes, specifically the passage of the BBB, have made the opportunity zone program permanent, benefiting the company's investment strategies [3] Financial Highlights - Platform revenue for Q2 2025 was $4.1 million, slightly down from $4.2 million in Q2 2024 [6] - The platform net loss was $4.9 million, or $3.87 per diluted share, compared to a net loss of $4.6 million, or $4.25 per diluted share in the prior year [6] - Platform adjusted EBITDA loss improved to $0.1 million from a loss of $2.5 million in the same quarter last year [6] Business Updates - Key milestones include the approval of the Canyon Village redevelopment project, which will convert a distressed office building into a 376-unit rental multifamily residential building [7] - The joint venture project, PURE Pickleball & Padel™, received design review approval, positioning it for a building permit [7] - A successful refinancing of $22.5 million for the Doubletree by Hilton Hotel in Tucson was completed [7] Consolidated Financial Results - Total consolidated revenue decreased to $5.1 million from $8.2 million, primarily due to the deconsolidation of several entities in 2024 [7] - Consolidated net loss attributable to Caliber was $5.3 million, or $4.15 per diluted share, compared to a net loss of $4.7 million, or $4.34 per diluted share in the previous year [7] - Consolidated adjusted EBITDA showed improvement, reaching $0.1 million compared to a loss of $1.0 million in Q2 2024 [7] Assets Under Management - As of June 30, 2025, the fair value of assets under management (AUM) was $803.2 million, up from $794.9 million at the end of 2024 [23][24] - The company reported a total managed capital of $498.6 million, reflecting an increase from $492.5 million at the end of 2024 [25][26]
Eik fasteignafélag hf.: Interim results for the first six months of 2025
Globenewswire· 2025-08-13 15:46
Core Viewpoint - The interim consolidated financial statements for Eik fasteignafélag hf. for the first half of 2025 show strong growth in revenue and EBITDA, aligning with the company's operational plans [4][5]. Operations of the Period - The company's operating revenue reached ISK 5,998 million, marking an 8.5% increase from the same period in 2024, with rental income contributing ISK 5,219 million, reflecting a real growth of 4.3% year-on-year [4]. - Operating profit before valuation changes, sales gain, depreciation, and amortization was ISK 3,693 million, up from ISK 3,519 million in the previous year, while adjusted EBITDA for the first half of 2025 was ISK 3,783 million, a 7.5% increase year-on-year [5]. - The total profit for the group in the first six months of 2025 was ISK 3,379 million [5]. Financial Position - Total assets amounted to ISK 162,348 million, with investment properties valued at ISK 151,523 million and total equity at ISK 52,647 million, resulting in an equity ratio of 32.4% [7]. - The company approved a dividend distribution of ISK 3,393.4 million for the financial year 2024, with payments scheduled in two installments [7]. - Interest-bearing debt stood at ISK 88,057 million, with a loan-to-value ratio of 56.1% [9]. Company Portfolio - The company signed a purchase agreement for all shares in Festing hf., with the transaction expected to complete in Q4 2025, subject to Competition Authority approval [10][15]. - The company sold the property at Rauðarárstígur 27 for a sales gain of approximately ISK 42 million [11]. Economic Occupancy Rate - The economic occupancy rate improved to 94.8%, an increase of 1.2 percentage points since the beginning of the year [12]. Updated Outlook - The company expects annual operating revenue for 2025 to be between ISK 12,270 million and ISK 12,650 million, with rental income estimated between ISK 10,590 million and ISK 10,910 million [14]. - EBITDA for 2025 is projected to be between ISK 7,735 million and ISK 7,975 million [14]. - The occupancy rate is anticipated to be between 94% and 95% by the end of 2025, with leasing of development square meters progressing slower than expected [17].
Jeffs’ Brands: Fort Technology Announces a CAD 5 Million Private Placement of Convertible Debenture Representing a Valuation of Approximately CAD 27 million
Globenewswire· 2025-08-13 12:23
Core Viewpoint - Jeffs' Brands Ltd announced that its subsidiary Fort Technology Inc. has entered into a private placement of convertible debentures for gross proceeds of up to CAD 5 million, with a valuation of approximately CAD 27 million for Fort [1][2]. Group 1: Private Placement Details - The private placement involves convertible debentures that will mature in 2 years and bear an interest rate of 10% per annum, payable quarterly [1]. - The principal amount of the convertible debentures can be converted into units of Fort at a price of CAD 0.185 per unit, with each unit consisting of one common share and one warrant [1]. - The company participated in the private placement by purchasing CAD 2.2 million worth of convertible debentures, constituting a related-party transaction [3]. Group 2: Use of Proceeds and Loan Agreement - The net proceeds from the private placement will be used for general working capital requirements and to extend a loan under a separate loan agreement [2]. - Fort has entered into a loan agreement with EEH Ventures Limited, advancing an initial loan of £2 million, with an additional £1 million available after 12 months [5]. - The loan amounts bear an interest rate of 7.5% per annum and are repayable within three years, with an option for Fort to convert the loan into up to 25% of EEH's share capital [5]. Group 3: Company Background - Jeffs' Brands aims to transform e-commerce by creating and acquiring products to become market leaders, leveraging advanced technology and insights into the Amazon FBA business model [6]. - Fort Technology Inc. specializes in manufacturing and selling products for the pest control and remedial repair industry [7].
Jeffs' Brands: Fort Technology Announces a CAD 5 Million Private Placement of Convertible Debenture Representing a Valuation of Approximately CAD 27 million
GlobeNewswire News Room· 2025-08-13 12:23
Core Viewpoint - Jeffs' Brands Ltd announced that its subsidiary Fort Technology Inc. has entered into a private placement of convertible debentures for gross proceeds of up to CAD 5 million, with a valuation of approximately CAD 27 million for Fort [1][2]. Group 1: Private Placement Details - The private placement involves convertible debentures that will mature in 2 years and bear an interest rate of 10% per annum, payable quarterly [1]. - The principal amount of the convertible debentures can be converted into units of Fort at a price of CAD 0.185 per unit, with each unit consisting of one common share and one warrant [1]. - The company participated in the private placement by purchasing CAD 2.2 million worth of convertible debentures, constituting a related-party transaction [3]. Group 2: Use of Proceeds and Loan Agreement - The net proceeds from the private placement will be used for general working capital requirements and to extend a loan under a separate loan agreement [2]. - Fort has entered into a loan agreement with EEH Ventures Limited, advancing an initial loan of £2 million, with an additional £1 million available at EEH's request [5]. - The loan amounts bear interest at a rate of 7.5% per annum and are repayable within three years, with an option for Fort to convert the loan into up to 25% of EEH's share capital [5]. Group 3: Company Background - Jeffs' Brands aims to transform e-commerce by creating and acquiring products to become market leaders, leveraging advanced technology and insights into the Amazon FBA business model [6]. - Fort Technology Inc. specializes in manufacturing and selling products for the pest control and remedial repair industry [7].
FAVO Capital Acquires 1818 Park in $190 Million Transaction, Expands Platform into Income-Producing Real Estate
Globenewswire· 2025-08-13 12:00
FORT LAUDERDALE, Fla., Aug. 13, 2025 (GLOBE NEWSWIRE) -- via IBN – Aug. 13, 2025 – FAVO Capital, Inc. (OTC: FAVO), a diversified finance company providing alternative revenue-based funding solutions to small and medium-sized businesses (SMBs), today announced that it completed a $190 million all- stock and assumption-of-liabilities acquisition of 1818 Park, a premier Class-A mixed-use property in downtown Hollywood, Florida. This acquisition marks a significant milestone in FAVO's diversification strategy, ...