Monmouth Real Estate Announces New Acquisition In Charleston, SC

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FREEHOLD, N.J., Nov. 2, 2017 /PRNewswire/ — Monmouth Real Estate Investment Corporation (NYSE: MNR) today announced the acquisition of a brand new 121,683 square foot industrial building located at 1892 Anfield Road, N. Charleston, SC ?at a purchase price of $21,872,170. The property is net-leased for 15 years to Federal Express Corporation. The building is situated on approximately 16.2 acres.

Michael P. Landy, President and CEO, commented, “We are very pleased to announce this acquisition which is ideally located near the Charleston International Airport. Over the past several years we have strategically positioned our portfolio to benefit from the supply chain’s shift toward the eastern seaboard as the result of the recently completed Panama Canal expansion. The Port of Charleston has been one of the biggest beneficiaries of this change and we expect this region’s strong economic growth to continue for many years to come.”

Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the U.S.? The Company specializes in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment-grade tenants.? Monmouth Real Estate Investment Corporation is a fully integrated and self-managed real estate company, whose property portfolio consists of 109 properties containing a total of approximately 18.9 million rentable square feet, geographically diversified across 30 states. ?In addition, the Company owns a portfolio of REIT securities.

SOURCE Monmouth Real Estate Investment Corporation

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http://mreic.com

Hall Management Group Purchases No. 5 Faber Events Facility

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Hall Management Group Purchases No. 5 Faber Events Facility
CHARLESTON, SC— Hall Management Group (HMG) today announced the purchase of No. 5 Faber, a private events facility from 5 Faber LLC. Capital Bank provided financing.

The property, located directly behind HMG’s Slightly North of Broad (S.N.O.B.) restaurant at 192 East Bay Street, can accommodate groups for weddings, corporate or private events. No. 5 Faber has over 7,000 sq. ft. with a 1564 sq. ft. commercial kitchen, full bar with granite countertops, lobby with baby grand piano, and a mezzanine lounge area.

“We receive requests every day for weddings, rehearsal dinners and evening business outings that are difficult to provide for our customers with our current restaurants,” said Bill Hall, Sr., President and CEO of HMG. “This property will provide us with much needed event space.”

According to Hall, “only minor cosmetic changes are planned for S.N.O.B. with the relocation of the restrooms.” Hall added that the new property would enhance S.N.O.B.’s kitchen efficiency and storage with the addition of the walk-in cooler and freezer.

HMG also announced that Jennifer Kleckley (843-724-3808) will manage the new space and future event reservations.

In addition to S.N.O.B., Hall Management Group owns Halls Chophouse and High Cotton in downtown Charleston, Old Village Post House Inn in Mt. Pleasant, Rita’s Seaside Grille on Folly Beach, and Halls Chophouse in Greenville, South Carolina.
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Charleston, SC Based Atlantic Marina Holdings Buys Former Sinatra Getaway in Pinellas County, FL for 22.5 Million

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Charleston, S.C.-based Atlantic Marina Holdings has bought the Tierra Verde Marina Resort in south Pinellas County for $22.5 million.

The resort, once a ’60s-era getaway for Frank Sinatra, Liberace and other celebrities, fell into disrepair and sat vacant for years but has been redeveloped with a new pool, tiki bar, restaurant and marina with 400 dry slips and 115 wet slips. More boat slips and a boutique hotel are planned.

The buyer, Atlantic Marina Holdings, also owns marinas in Fort Lauderdale and Palm Beach Gardens.

About Atlantic Marina Holdings, LLC

Atlantic Marina Holdings, headquartered in Charleston, SC, is an industry leader in the acquisition, development, re-development, and operation of both dry and wet slip marinas. Since its inception, AMH has acquired, re-developed, and managed a portfolio of over $100 million in marina assets. AMH has expertise in all areas of the marina industry and is dedicated to providing unparalleled value and customer service on all of our projects.

Current Holdings

Monogram To Be Acquired For $12.00 Per Share In Cash By Charleston, SC Based Greystar Led Fund

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Monogram To Be Acquired For $12.00 Per Share In Cash By Greystar Led Fund

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SOURCE Monogram Residential Trust, Inc.

PLANO, Texas, July 4, 2017 /PRNewswire/ —?Monogram Residential Trust, Inc. (NYSE: MORE), an owner, operator and developer of luxury apartment communities with a significant presence in select coastal markets, today announced that it has entered into a definitive merger agreement to be acquired by a newly formed perpetual life fund, Greystar Growth and Income Fund, LP, led by Greystar Real Estate Partners and its initial founding capital partners, affiliates of APG Asset Management N.V., GIC, and Ivanhoé Cambridge, in a transaction valued at approximately $3.0?billion, including debt to be assumed or refinanced.

Under the terms of the merger agreement, which was unanimously approved by Monogram’s Board of Directors, Monogram’s stockholders will receive $12.00 per share in cash.? This represents a premium of approximately 22% to Monogram’s unaffected closing stock price on July 3, 2017, the last trading day prior to the public announcement of the transaction.

The $3.0 billion aggregate transaction value includes Monogram’s share of its two institutional co-investment joint ventures with PGGM and NPS.? The PGGM joint venture will be restructured, and the joint venture interests held by NPS will be purchased by Greystar pursuant to a separate assignable purchase and sale agreement for approximately $0.5 billion, subject to certain adjustments at closing, including payment of the NPS joint venture’s share of debt to be assumed or refinanced in connection with the transaction.

“We are pleased to have reached this agreement, which maximizes value at a substantial premium to our existing share price,” said Alan Patton, Monogram’s Chairman of the Board of Directors. “We are confident that today’s announcement represents the best path forward for all of Monogram’s stockholders.”

“This landmark is the result of Monogram’s success at executing and delivering on strong operations, innovative development programs and investment strategies in conjunction with skillful market timing,” said Mark Alfieri, Monogram’s Chief Executive Officer, President and Chief Operating Officer.? “The interest we received from this sophisticated group of investors demonstrates that our targeted focus on building our portfolio with high quality Class A assets in select core markets has been recognized and our stockholders and joint venture partners are rewarded with this successful outcome.”

“We are excited to add Monogram’s high quality assets in some of the best markets in the country as the seed portfolio for Greystar Growth and Income Fund, LP, our flagship core-plus perpetual life vehicle,” said Bob Faith, the Founder, Chairman and Chief Executive Officer of Greystar.? “The collective strength and experience of our high-quality investment partners are second to none, and we look forward to completing this transaction and further expanding Greystar’s U.S. multifamily platform.”

The transaction, which is expected to close in the second half of 2017, is subject to approval by Monogram’s stockholders and other customary closing conditions.? The transaction is not contingent on receipt of financing by Greystar.? JPMorgan Chase Bank, N.A. has provided a commitment letter to Greystar Growth and Income Fund for $2.0 billion in debt financing for the transaction upon the terms and conditions set forth in such letter.? Following payment of the previously announced second quarter dividend on July 7, Monogram will not pay any dividends through the close of the transaction except as required to maintain its REIT status and any such dividend will be deducted from the purchase price.

Morgan Stanley & Co. LLC is serving as exclusive financial advisor and Goodwin Procter LLP is serving as legal advisor to Monogram.? J.P. Morgan Securities LLC is serving as exclusive financial advisor and Jones Day is serving as legal advisor to Greystar.

Monogram will release financial results for its second quarter ended June 30, 2017 in early August.? As a result of today’s announcement, the Company does not expect to host a conference call and webcast to discuss its financial results for the quarter.

ABOUT MONOGRAM

Monogram is a fully integrated self-managed real estate investment trust that invests in, develops and operates high quality multifamily communities offering location and lifestyle amenities.? Monogram invests in stabilized operating properties and properties in various phases of development, with a focus on communities in select markets across the United States.? As of March 31, 2017, Monogram’s portfolio includes investments in 49 multifamily communities in 10 states comprising 13,674 apartment homes. More information is available at www.monogramres.com.

ABOUT GREYSTAR

Greystar is a leading, fully integrated multifamily real estate company offering expertise in investment management, development and property management of rental housing properties globally.? Headquartered in Charleston, South Carolina with offices throughout the United States, Europe, Latin America and Asia-Pacific, Greystar is the largest operator of apartments in the United States, managing over 415,000 units in over 140 markets globally, with an aggregate estimated value of approximately $80 billion.? Greystar also has a robust institutional investment management platform dedicated to managing capital on behalf of a global network of institutional investors with nearly $17 billion in gross assets under management including more than $8 billion of developments that have been completed or are underway.? Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world class service in the rental housing real estate business. To learn more about Greystar, visit www.greystar.com.

ABOUT APG ASSET MANAGEMENT N.V.

APG Asset Management N.V. is a Dutch pension capital investor and one of the largest pension fiduciary asset managers worldwide. APG manages €452 billion (April 2017) on behalf of its pension fund clients and their 4.5 million active and retired participants from the public and private sectors representing over 30% of all collective pension plans in the Netherlands. www.apg.nl.

ABOUT GIC

GIC is a leading global investment firm with well over USD 100 billion in assets under management.? Established in 1981 to secure the financial future of Singapore, the firm manages Singapore’s foreign reserves.? A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including real estate, private equity, equities and fixed income.? GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades.? Headquartered in Singapore, GIC employs over 1,300 people across 10 offices in key financial cities worldwide.? For more information about GIC, please visit www.gic.com.sg.

ABOUT IVANHOé CAMBRIDGE

Ivanhoé Cambridge, a global real estate industry leader, invests in high-quality properties and real estate companies in select cities around the world.? It does so prudently, with a long-term view to generate optimal, risk-adjusted returns.? Founded in Quebec in 1953, Ivanhoé Cambridgehas built a vertically integrated business across Canada.? Internationally, Ivanhoé Cambridgeinvests alongside key partners and major real estate funds that are leaders in their respective markets.? Through subsidiaries and partnerships, Ivanhoé Cambridge holds interests in nearly 800 buildings, primarily in the residential, office, retail and logistics real estate sectors.? Ivanhoé Cambridge held approximately C$56 billion in assets as at December 31, 2016.? Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dép?t et placement du Québec (cdpq.com), one of Canada’s leading institutional fund managers.? For more information: ivanhoecambridge.com.

ABOUT PGGM

PGGM is a cooperative Dutch pension fund service provider. Institutional clients are offered: asset management, pension fund management, policy advice and management support. On December 31, 2016 PGGM had EUR 205.8 billion in assets under management. The PGGM cooperative has approximately 720,000 members and is helping them to realize a valuable future. Either alone or together with strategic partners, PGGM develops future solutions by linking together pension, care, housing and work. www.pggm.nl.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of federal securities laws that are based on Monogram’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. These statements may be impacted by a number of known and unknown risks and uncertainties, including, without limitation, risks associated with Monogram’s business strategy; Monogram’s ability to obtain future financing arrangements; estimates relating to Monogram’s future distributions; Monogram’s understanding of its competition; market trends; and projected capital expenditures. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Factors that could cause such differences include, but are not limited to, (i) the risk that the proposed merger may not be completed in a timely manner, or at all, which may adversely affect Monogram’s business and the price of its common stock, (ii) the failure to satisfy all of the closing conditions of the proposed merger, including the adoption of the merger agreement by Monogram’s stockholders, (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, (iv) the effect of the announcement or pendency of the proposed merger on Monogram’s business, operating results, and relationships with joint venture partners, lenders, tenants, competitors and others, (v) risks that the proposed merger may disrupt Monogram’s current plans and business operations, (vi) potential difficulties retaining employees as a result of the proposed merger, (vii) risks related to the diverting of management’s attention from Monogram’s ongoing business operations, and (viii) the outcome of any legal proceedings that may be instituted against Monogram related to the merger agreement or the proposed merger.? In addition, a number of other important factors could cause actual results to differ materially from the forward-looking statements contained in this press release, including important risk factors described in the Risk Factors section of Monogram’s Annual Report on Form 10-K for the year ended December 31, 2016and in Monogram’s subsequent filings with the Securities and Exchange Commission. Forward-looking statements in this press release speak only as of the date on which such statements were made, and Monogram undertakes no obligation to update any such statements to conform to actual results or changes in its expectations.

Additional Information about the Proposed Transaction and Where to Find It

In connection with the proposed transaction, Monogram will file a proxy statement with the SEC.? Additionally, Monogram will file other relevant materials in connection with the proposed acquisition of Monogram by an affiliate of Greystar Real Estate Partners.? The materials to be filed by Monogram with the SEC may be obtained free of charge at the SEC’s web site at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by Monogram on Monogram’s website at www.monogramres.comor by contacting Monogram investor relations at ir@monogramres.com.??INVESTORS AND SECURITY HOLDERS OF MONOGRAM ARE URGED TO READ THE PROXY STATEMENT AND THE OTHER RELEVANT MATERIALS WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE PROPOSED TRANSACTION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.

Certain Information Regarding Participants

Monogram and its directors, executive officers and other persons, may be deemed to be participants in the solicitation of proxies of Monogram stockholders in connection with the proposed transaction. Information concerning the interests of Monogram’s participants in the solicitation, which may, in some cases, be different than those of Monogram’s stockholders generally, is set forth in the materials filed by Monogram with the SEC, including in Monogram’s definitive proxy statement filed with the SEC on May 1, 2017, and will be set forth in the proxy statement relating to the proposed transaction when it becomes available.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/monogram-to-be-acquired-for-1200-per-share-in-cash-by-greystar-led-fund-300483244.html

?2017 PR Newswire. All Rights Reserved.

Charleston based Blackbaud acquires U.K.-based fundraising platform JustGiving for $120 million

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Acquisition to extend Blackbaud’s offerings for peer-to-peer fundraising to drive more charitable giving

CHARLESTON, S.C., June 26, 2017 /PRNewswire/ —?Blackbaud, Inc. (NASDAQ: BLKB), the world’s largest cloud software company powering nonprofits and other social good organizations, today announced that it has entered into an agreement to acquire United Kingdom-based online fundraising services provider JustGiving?, whose online social giving platform has played a powerful role in the growth of peer-to-peer fundraising.

Under the purchase agreement for the transaction, Blackbaud has agreed to acquire all of the outstanding equity interests of JustGiving for an aggregate purchase price of £95 million, subject to certain adjustments. The closing of the transaction is anticipated to occur at the conclusion of a customary regulatory review in the U.K. Blackbaud expects to finance the acquisition with cash on hand and borrowings under its existing credit facility.

The acquisition comes as social and mobile giving continue to grow and fundraising driven by individual supporters rallying others in their networks (referred to as “peer-to-peer fundraising” in the sector) plays a significant and growing role in charitable giving. JustGiving has been a leader in peer-to-peer fundraising for both nonprofit organizations as well as individuals (also known as personal crowdfunding), with people in 164 countries raising over $4.5 billion for good causes through its online platform since 2001.

“Today, people are willing to do more than ever before to support causes they care about, but they want to do it on their own terms,” said Jerry Needel, president and general manager of Blackbaud Consumer Solutions. “To put their passion into action, they need technology that gives them the power to connect with other change agents and organizations. Bringing JustGiving into the Blackbaud family reinforces our strong commitment to catalyzing the impact of individual change agents. It’s also part of our commitment to helping social good organizations navigate and respond to key shifts in giving behavior.”

The acquisition will enhance Blackbaud’s capabilities to serve both individual donors and nonprofits, expanding the peer-to-peer fundraising capabilities Blackbaud offers today through TeamRaiser? and everydayhero?, which are used by leading nonprofit organizations to connect their causes to the individuals who support them. The acquisition will also add a new personal crowdfunding capability that can be rolled out in the U.S. and elsewhere, as well as position Blackbaud to better serve the U.K. market, where it has operated for more than two decades, and where JustGiving is a fundraising leader.

“As a software leader exclusively focused on innovation that drives social good, it’s in our DNA to respond to and anticipate changes in the way people give and connect with causes,” said Mike Gianoni, president and CEO of Blackbaud. “This is an exciting next step in our commitment to delivering modern, mobile-first, integrated cloud technology that powers social good. Together, JustGiving’s proven crowdfunding expertise and Blackbaud’s cloud solutions, customer base and leadership in the social economy are a powerful, unmatched combination that will ultimately forge deeper and more effective connections between people and the causes they support. This is the kind of innovation it takes to build a better world.”

Anne-Marie Huby, co-founder and managing director of JustGiving, said: “Social, mobile and the rise of crowdfunding combined are transforming the way people give, and the pace of change is unprecedented. By bringing together JustGiving’s community and social platform with Blackbaud’s unrivalled expertise and capabilities, we will be better able to help great causes reach more people and raise more money, more effectively and intelligently than ever before.”

The two companies have entered into a definitive acquisition agreement as of Friday, June 23, which will undergo a customary regulatory review in the U.K. The transaction is anticipated to close later this year, and the two companies will determine their full integration strategy at that time.

JustGiving is headquartered in London, U.K. Blackbaud is headquartered in Charleston, South Carolina with operations around the globe, including in London. JustGiving staff are expected to transition to Blackbaud following the completion of the customary regulatory review and become part of Blackbaud’s London-based International Markets Group, led by Jerome Moisan, senior vice president and president of Blackbaud’s International Markets Group.

About Blackbaud

Blackbaud (NASDAQ: BLKB) is the world’s leading cloud software company powering social good. Serving the entire social good community—nonprofits, foundations, corporations, education institutions and individual change agents—Blackbaud connects and empowers organizations to increase their impact through software, services, expertise and data intelligence. The Blackbaud portfolio is tailored to the unique needs of vertical markets, with solutions for fundraising and relationship management, digital marketing, advocacy, accounting, payments, analytics, school management, grant management, corporate social responsibility, and volunteerism. Serving the industry for more than three decades, Blackbaud is headquartered in Charleston, South Carolina, and has operations in the United States, Australia, Canada and the United Kingdom. For more information, visit?www.blackbaud.com.

About JustGiving

JustGiving is the world’s most trusted social platform for giving, enabling over 22 million people to raise over $4.5 billion for over 26,000 charities since launching in 2001. As a tech-for-good company, JustGiving develops world-class technology and innovative tools to fulfil its mission to connect people with the causes they care about. By making giving more simple, social and rewarding, JustGiving helps all causes, charities and people in need to reach more people and raise more money. For more information, visit www.justgiving.com.

Media Contact

For inquiries inside of the UK:
0207 554 1784
blackbaud@portland-communications.com

For all other inquiries:
Sylvia Baker
Porter Novelli for Blackbaud
404-995-4528
Sylvia.Baker@porternovelli.com