Empire State Realty Trust Becomes Nation’s Largest 100{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} User of Green Power in Real Estate

The MarketWatch News Department was not involved in the creation of this content.

NEW YORK, Feb. 3, 2021 /PRNewswire via COMTEX/ —
NEW YORK, Feb. 3, 2021 /PRNewswire/ — Empire State Realty Trust, Inc. (NYSE: ESRT) today added to its industry leadership in sustainability with the purchase of renewable wind electricity for its entire commercial portfolio. A new three-year contract with Green Mountain Energy makes ESRT the nation’s largest 100{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} user of green power in real estate (source).

“ESRT is the leader in sustainable operations with a viable example of how to scale carbon neutral technologies, strategies and policies to balance with an effective economic business case,” said Dana Robbins Schneider, SVP, director of energy, sustainability & ESG at Empire State Realty Trust. “We have purchased renewable power from Green Mountain Energy for the World’s Most Famous Building, the Empire State Building, for a decade. We now expand that to all properties in New York State with an additional Direct Energy contract for our Connecticut properties. We continue to advance our commitment to solutions that reduce our environmental impact. Our tenants now work in carbon neutral offices and the investment community can recognize our leadership.”

100{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} of ESRT’s

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KKR Real Estate Finance Trust Inc. Updated Tax Treatment of 2020 Dividends

Press release content from Business Wire. The AP news staff was not involved in its creation.

NEW YORK–(BUSINESS WIRE)–Feb 3, 2021–

KKR Real Estate Finance Trust Inc. (NYSE: KREF) (the “Company” or “KREF”) today announced an update to the tax treatment of its 2020 common stock and special voting preferred stock dividends. The following table summarizes KKR Real Estate Finance Trust Inc.’s common stock and special voting preferred stock dividend payments for the tax year ended December 31, 2020:











Tax Treatment of 2020 Dividends
 

Record Date

 

Payment Date

 

Cash Disbursement

 

Adjustment

 

Dividend (1)

 

Ordinary Dividends (2)

 

Qualified Dividends

 

Capital Gain Dividends

 
December 31, 2019 January 15, 2020

$0.43

($0.32)

$0.11

$0.1125

$0.0009

$0.0000

March 31, 2020 April 15, 2020

$0.43

$0.00

$0.43

$0.4300

$0.0033

$0.0000

June 30, 2020 July 15, 2020

$0.43

$0.00

$0.43

$0.4300

$0.0033

$0.0000

September 30, 2020 October 15, 2020

$0.43

$0.00

$0.43

$0.4300

$0.0033

$0.0000

December 31, 2020 January 15, 2021

$0.43

$0.00

$0.43

$0.4300

$0.0033

$0.0000

$2.15

($0.32)

$1.83

$1.8325

$0.0141

$0.0000

(1)

Pursuant to IRC Section 857(b)(9), cash distributions made on January 15, 2021 with a record date of December 31, 2020 are treated as received by shareholders on December

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Passive Real Estate Investing with a Delaware Statutory Trust (DST)

Real estate investors today have options that haven’t always been available. In 1988 the state of Delaware passed the Delaware Statutory Trust Act, which was groundbreaking. Revenue Ruling 2004-86 soon followed and allowed for DSTs to qualify as “replacement property” for the tried-and-true 1031 exchange (part of our tax code since the 1920s).



a man standing in front of a building


© Provided by Kiplinger


One of the primary strategies for creating wealth in real estate has always been to buy properties, build equity and then sell and move on to larger properties — in many cases using leverage to expand the size and scope of one’s real estate holdings. 1031 tax-deferred exchanges have been investors’ saving grace, and they have allowed for all capital gains to be deferred as investors move on to bigger properties. Thus, allowing for real estate to be one of the greatest wealth-creation tools in existence.

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It’s estimated that over 70{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} of all millionaires in the United States credit real estate as their No. 1 wealth-creation source.

No matter how great an investment real estate is, however, sometimes we reach a place in life where we no longer want to be landlords. This is where DSTs can get really interesting.

The

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Wheeler Real Estate Investment Trust, Inc. Announces Extension of Modified Dutch Auction Tender Offer

Press release content from News Direct Corporation. The AP news staff was not involved in its creation.

–News Direct–

Wheeler Real Estate Investment Trust, Inc. (the “Company” or “Wheeler”) (NASDAQ: WHLR) announced today it is extending its previously announced “Modified Dutch Auction” tender offer for its outstanding Series D Cumulative Convertible Preferred Stock (“Series D Shares”) to 11:59 P.M., Eastern Standard Time, on Tuesday, February 16, 2021 and is increasing the value of Series D Shares purchased from $19 million to $20 million.

Except as set forth herein, the complete terms and conditions of the tender offer remain the same as set forth in the Offer to Purchase dated December 23, 2020, and the related Letter of Transmittal.

As of 11:59 pm on January 25, 2021, the original expiration date for the tender offer, 1,522,755 Series D Shares had been validly tendered.

The Information Agent for the tender offer is Equiniti (US) Services LLC, and the Depositary is Computershare Trust Company, N.A.

Copies of the Offer to Purchase and the related Letter of Transmittal have previously been mailed to holders of the Company’s Series D Shares. Additional copies of the Offer to Purchase, the related Letter

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KKR Real Estate Finance Trust Inc. Announces Adoption of Distributable Earnings Performance Metric

Press release content from Business Wire. The AP news staff was not involved in its creation.

NEW YORK–(BUSINESS WIRE)–Jan 25, 2021–

KKR Real Estate Finance Trust Inc. (the “Company” or “KREF”) (NYSE:KREF) today announced that, based on recent guidance from the Securities and Exchange Commission, commencing with its fourth quarter 2020 earnings release and Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and for subsequent reporting periods, the Company has elected to present Distributable Earnings, a measure that is not prepared in accordance with GAAP, as a supplement to KREF’s GAAP net income reporting. The Company believes this metric will be a useful indicator for investors in evaluating the Company’s operating performance and its ability to pay dividends. Distributable Earnings will replace the Company’s prior presentation of Core Earnings, and Core Earnings presentations from prior reporting periods will be recast as Distributable Earnings and will be accompanied by relevant disclosures, including the Company’s policy of realizing loan losses through Distributable Earnings.

The Company defines Distributable Earnings as net income (loss) attributable to its stockholders or, without duplication, owners of its subsidiaries, computed in accordance with GAAP, including realized losses not otherwise

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Blackstone Real Estate Income Trust and LBA Logistics Announce $1.6B Industrial Recapitalization

The MarketWatch News Department was not involved in the creation of this content.

Blackstone Real Estate Income Trust, Inc. (“BREIT”) and LBA Logistics (“LBA”) today announced the recapitalization of two industrial portfolios owned by LBA comprising $1.6 billion of gross value. BREIT acquired an approximately 60{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} combined interest across both portfolios, and LBA’s investment fund and its investors retained the balance.

The portfolios comprise 71 high quality assets totaling 9.5 million square feet and are approximately 95{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} occupied. The assets are located predominantly in last mile locations in West Coast markets with the vast majority in California and Seattle, which are two of the best performing industrial markets in the country.

Brian Kim, Head of Acquisitions & Capital Markets for BREIT, said, “This transaction represents a compelling opportunity to acquire high-quality last mile industrial assets on behalf of our BREIT investors. Logistics is one of our highest conviction investment themes globally, and this acquisition illustrates BREIT’s continued momentum executing on exciting opportunities with significant growth potential. LBA Logistics is a best-in-class operator in the logistics sector, and we look forward to expanding our partnership with them.”

Phil Belling, LBA’s Managing Partner, added, “These assets are benefitting from the strong fundamentals

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