A Web Dezine http://awebdezine.com/ Wed, 20 Oct 2021 08:25:51 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://awebdezine.com/wp-content/uploads/2021/05/a-web-dezine-icon-150x150.png A Web Dezine http://awebdezine.com/ 32 32 Miami is the future ahead – Business Watcher https://awebdezine.com/miami-is-the-future-ahead-business-watcher/ https://awebdezine.com/miami-is-the-future-ahead-business-watcher/#respond Tue, 19 Oct 2021 23:45:28 +0000 https://awebdezine.com/miami-is-the-future-ahead-business-watcher/

Commercial Observer’s Future Forward conference was a love letter to Miami. The one-day event, which took place last week at South West Beach, featured a range of speakers, many of whom have recently moved from New York, who sang the praises of the Magic City.

Miami is booming, they said, offering a wonderful quality of life and where business and real estate transactions are abundant. New York City – or any major city for that matter – should be careful.

“I fell in love with Miami,” said Jacques Abraham, founder and managing partner of a venture capital firm Atomic, which was one of the first large Silicon Valley companies to relocate this year. “Miami at its heart has some of the best elements of New York and Los Angeles,” Abraham said. It offers a culinary scene and a diversity of people that rival New York City, while also providing a warm climate and ocean found in Los Angeles, Abraham added.

Unlike New York City, politicians aren’t a problem, the developers noted. “You are welcome here if you come to do business. It’s really healthy, ”the developer said. Steven witkoff. “New York is resting on its laurels and must go out of its own way.”

Florida’s “healthy” politics are in part due to its politically purple, developer Don Peebles underline. The Sunshine State “pulls to the left, but there is strong and even pull to the right. So you almost always find yourself at the center: a pro-business and socially progressive environment, ”he said.

While Miami has a time now, its rebirth has taken a long time, and in large part thanks to – wait – New Yorkers. It depends Ivan Kaufman, founder, chairman and chief executive officer of Arbor Realty. “New Yorkers came down to the ’90s. They built the infrastructure; they built the hotels; they built the restaurants; they built the culture, ”he said.

One of those New Yorkers who make the most of the Miami moment is Jeff Zalaznick, co-founder and managing partner of Large food group. The company has opened an outpost of its New York institution Carbon in Miami Beach with great fanfare earlier this year. He plans to open between seven and 10 restaurants in South Florida during the year, the restaurateur told the crowd.

What better place to grow than Florida? As the world has locked itself down due to COVD-19, the region has remained wide open for business, allowing restaurants and clubs to operate at full capacity. “It was like a Super Bowl all year round”, Barry sternlicht, co-founder, Chairman and CEO of Starwood Capital Group, said of the Miami hotel industry.

But obstacles remain for Miami. The city lacks the infrastructure required to become a full-fledged business center, said We work CEO Sandeep Mathrani. “It takes a decade of investment to really make it a hub. At present, there is an abundance of office space in the world. But there aren’t many in Miami. There’s a new building coming, 830 Brickell. ”

And as the rich move south, it deepens the gap between the haves and have-nots. “This is the story of two Miamis, for the moment”, warned Rebecca Fishman Lipsey, President and CEO of Miami Foundation. “Half of Miami aren’t sure what food they’re going to eat for dinner. The other half is booming. If you do and enjoy this place make sure it’s good for everyone.

Beyond Miami, an issue facing the commercial real estate industry is attracting diverse talent. Look no further than the crowd attending the conference, which was mostly white men, even in a city as diverse as Miami.

The industry is failing by being so homogeneous, said Bryan McDonnell, the general manager of PGIM Real Estate. “I want the best talent,” he said. “If I don’t have a wide enough opening to get the best talent, then I’m holding back.”

A sales pitch for young graduates is for them to participate in change, said Cedric Bobo, CEO of Intended project, which partners with commercial real estate companies to offer an eight-week internship program. “A child may not understand real estate, but he sees his neighborhood change. They want to be part of it. We sell you: “You don’t want to have the skills to be a part of the progress, not to be a victim of it? “”

While developers are experts at reinventing neighborhoods – just ask Craig robin, who single-handedly created Miami’s Design District, one of the most popular places in the city today. They are slow to embrace new technology and recognize the future before it arrives. Brad Greiwe, co-founder and managing partner of the venture capital firm Fifth wall, has a message for those still on the sidelines. “Over $ 30 billion has been spent on proptech R&D,” he said. “The VC community will fund your innovation projects. It is increasingly important to have a culture that is not only open to change, but also able to manage it.

If this conference is any guide, the future is Miami, inclusion and technology.

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Bixby Ranch in Big Sur splashes the market for $ 20 million https://awebdezine.com/bixby-ranch-in-big-sur-splashes-the-market-for-20-million/ https://awebdezine.com/bixby-ranch-in-big-sur-splashes-the-market-for-20-million/#respond Tue, 19 Oct 2021 21:22:30 +0000 https://awebdezine.com/bixby-ranch-in-big-sur-splashes-the-market-for-20-million/ Located along California’s Pacific Coast Highway near Big Sur, the Bixby Bridge is one of the most photographed landmarks in the world.

The iconic bridge is just one of the sights visible from a 78-acre hilltop resort currently on the market. Known as the Bixby Ranch, this mountain hideaway is available for $ 20 million.

A luxury resort on the California coast, the expensive property has four structures, with an array of ocean and mountain views.

There you will find a main house, a guest house and a library. Additionally, a pre-Civil War Ohio barn has been meticulously dismantled and rebuilt on this prime land.

The owners seized the land in 1996 for $ 900,000. It adjoins 300 acres of a private reserve that they jointly purchased with their neighbors.

With the intention of creating a fabulous family retreat, the owners called on an architect from Carmel, Mary ann schicketanz, to design the compound.

As her company website states, her goal is “to fully integrate the dreams and needs of our customers … while respecting the principles of sustainability.”

The structures, designed to be respectful of the environment, incorporate natural materials such as wood, stone and reclaimed parts.

Completed in 2015, the resort offers a total of 8,491 square feet of indoor living space across four separate structures, which include six bedrooms, two full baths, and three half baths.

In the main house, the living room, complete with shelves and artwork, has a huge central skylight and exposed beams. A dining room flows into a large kitchen with a central island.

A master bedroom offers a view of the woods and the private bathroom has two sinks and a freestanding bathtub along a glass wall.

An impressive library building comes complete with floor-to-ceiling shelving and an attached ladder for accessing hard-to-reach volumes. Entered through glass doors, the space could serve as an office or a creative studio.

The antique barn has been converted into an entertainment area, complete with a kitchen, dining area and a loft with sofas. Light enters through a wall of windows and the upper level is connected by a spiral staircase.

You can accommodate guests in style in the independent guest house, which has its own kitchen, living room and bathroom. Two yurts on the property can also accommodate additional people.

With nearly 80 acres to work on, any buyer interested in expanding has many options.

Permits have already been approved to add another guest house, swimming pool and other outbuildings, notes the listing agent, Tim allen of Tim Allen Properties with Coldwell Banker Realty.

“What’s important is that you have active building permits. Getting them can take years, ”he says.

It’s not just a buyer Needs do any work to improve the compound.

As Allen says, “What you have, the first day you could stay.”

But for buyers looking to put their own stamp on prestige property, the wheels are in motion. For example, Allen notes that the barn could be turned into a living quarters because it is already plumbed.

Meanwhile, the area is ready to be explored on foot or in an all-terrain vehicle, with plenty of trails through the park-like setting. The property is a short drive from Carmel and Pebble Beach.

Noting the powerful combination of usable land, extraordinary views, the existing enclosure, and the ability to expand, Allen simply says, “I’ve never seen anything like it.

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Shareholders of Kite Realty Group and commercial properties of https://awebdezine.com/shareholders-of-kite-realty-group-and-commercial-properties-of/ https://awebdezine.com/shareholders-of-kite-realty-group-and-commercial-properties-of/#respond Tue, 19 Oct 2021 20:15:00 +0000 https://awebdezine.com/shareholders-of-kite-realty-group-and-commercial-properties-of/

INDIANAPOLIS and OAK BROOK, Ill., Oct. 19, 2021 (GLOBE NEWSWIRE) – Kite Realty Group Trust (NYSE: KRG), a leading owner and operator of outdoor shopping malls, grocery store anchored, and Retail Properties of America, Inc. (NYSE: RPAI), a leading owner and operator of high-quality, open-pit and mixed-use shopping centers, today announced that KRG shareholders and RPAI shareholders have approved all proposals necessary to complete the previously announced merger of RPAI into a subsidiary of KRG, with KRG remaining the surviving public company.

At the extraordinary meeting of KRG shareholders, approximately 99.7% of the votes were cast in favor of approving the issuance of ordinary shares to RPAI shareholders as part of the merger, which represented approximately 88.0% of the outstanding common shares of KRG.

At the special meeting of RPAI shareholders, approximately 98.1% of the votes were cast in favor of approving the merger agreement and the merger, which represented approximately 79.7% of the ordinary shares in circulation of RPAI.

The final results of the vote will be communicated on a Form 8-K filed with the Securities and Exchange Commission by the KRG and the RPAI with respect to their applicable special meetings.

The merger is expected to be finalized on October 22, 2021, subject to the satisfaction or waiver of customary closing conditions. Upon completion of the merger, pursuant to the terms of the definitive merger agreement entered into by and between KRG and RPAI on July 18, 2021, the shareholders of RPAI will be entitled to receive 0.623 newly issued KRG ordinary shares for each ordinary share of RPAI which they owned just prior to the effective date of the merger. Upon completion of the merger, the common shares of the combined company will trade under the ticker symbol “KRG” on the NYSE, and the common shares of RPAI will be delisted from the NYSE.

About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. KRG connects consumers with retailers in desirable markets through our portfolio of neighborhood, community and lifestyle centers. With its expertise in operations, development and redevelopment, KRG continually optimizes its portfolio to maximize value and return to its shareholders. For more information, please visit kiterealty.com.

Connect with the KRG: LinkedIn | Twitter | Instagram | Facebook

About Retail Properties of America, Inc.

Retail Properties of America, Inc. is a REIT that owns and operates high quality, strategically located outdoor shopping centers, including mixed-use properties. As of June 30, 2021, RPAI owned 100 commercial properties in the United States representing 19.7 million square feet. RPAI is listed on the New York Stock Exchange under the symbol RPAI. Additional information on RPAI is available at www.rpai.com.

Safe harbor

This press release, along with other statements and information publicly released by KRG or RPAI, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions and expectations which may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with precision and some of which could not be anticipated. Future events and actual results, performances, transactions or achievements, financial or otherwise, may differ materially from the results, performances, transactions or achievements, financial or otherwise, expressed or implied by forward-looking statements.

One of the most important factors that could cause actual results to differ materially from these forward-looking statements is the potential negative effect of the COVID-19 pandemic, including possible resurgences and mutations, on the financial condition. , operating results, cash flow and performance of the KRG or RPAI and their respective tenants, the real estate market and the global economy and financial markets. The effects of COVID-19 have caused, and may continue to cause, many respective tenants of the ARK and RPAI to close stores, reduce hours or significantly limit service, preventing them from meeting their expectations. rent obligations, and therefore continued and will continue to significantly affect the KRG and RPAI for the foreseeable future. The extent to which COVID-19 will continue to impact the KRG and RPAI and their respective tenants will depend on future developments, which are very uncertain and cannot be predicted with confidence, including the extent, severity and extent. duration of the pandemic, the continued speed of vaccine distribution, the effectiveness of vaccines, including against COVID-19 variants, vaccine acceptance and availability, measures taken to contain the pandemic or mitigate its impact , and the direct and indirect economic effects of the pandemic and containment measures, among others. In addition, investors are urged to interpret many of the risks identified in the section entitled “Risk Factors” in the respective annual report of the KRG and RPAI on Form 10-K for the fiscal year ended December 31, 2020 as being increased due to the and many adverse effects of the COVID-19 pandemic.

Other risks, uncertainties and other factors that could cause such differences, some of which could be material, include, but are not limited to: the ability of KRG and RPAI to complete the proposed merger transaction, including the satisfaction of conditions necessary for the closing of the transaction on the terms or schedule currently envisaged, or not at all; the occurrence of any event, change or other circumstance that may result in the termination of the merger agreement relating to the proposed transaction; risks associated with acquisitions in general, including the integration of the businesses of KRG and RPAI and the ability to achieve expected synergies or cost savings; the risk that disruptions caused by or related to the proposed transaction will adversely affect the activities of the KRG or RPAI, including current plans and operations; national and local economy, business, real estate and other market conditions, particularly in relation to weak or negative growth of the US economy as well as economic uncertainty; funding risks, including the availability and costs associated with sources of liquidity; the ability of KRG or RPAI to refinance or extend the maturity dates of its debt; the level and volatility of interest rates; the financial stability of tenants, including their ability to pay rent or apply for rent concessions, and the risk of tenant insolvency and bankruptcy; the competitive environment in which KRG and RPAI operate, including the potential oversupply and reduced demand for rental space; acquisition, disposal, development and joint venture risks; risks associated with the ownership and management of assets, including the relative illiquidity of real estate investments, periodic costs of repairing, renovating and re-letting spaces, operating costs and expenses, vacations or inability to rent spaces on favorable terms or not at all; the ability of KRG or RPAI to maintain its REIT status for US federal income tax purposes; environmental liabilities and other potentials; depreciation of the value of real estate owned by the KRG or RPAI; the attractiveness of their respective properties for tenants, the real and perceived impact of e-commerce on the value of shopping center assets and the changing demographics and customer traffic patterns; risks associated with the current geographic concentration of KRG’s properties in Florida, Indiana, Texas, North Carolina and Nevada; civil unrest, acts of terrorism or war, natural disasters, climate change, epidemics, pandemics (including COVID-19), natural disasters and extreme weather conditions such as hurricanes, tropical storms, tornadoes, earthquakes, droughts, floods and fires, including such events or conditions which may result in underinsured or uninsured losses or other increased costs and expenses; changes in government laws and regulations, including government orders affecting the use of ARK or RPAI properties or the ability of its tenants to operate, and the costs of compliance with such amended government laws and regulations; possible short- or long-term changes in consumer behavior due to COVID-19 and the fear of future pandemics; insurance costs and coverage; risks associated with cybersecurity attacks and the loss of confidential information and other business disruption; other factors affecting the real estate industry in general; and other risks identified in reports filed by the KRG or the RPAI with the Securities and Exchange Commission or in other documents it publicly discloses, including, in particular, the section entitled “Risk Factors” in the respective annual report of the KRG or RPAI on Form 10-K for the fiscal year ended December 31, 2020, and in the respective quarterly reports of the KRG or RPAI on Form 10-Q. The KRG and the RPAI do not undertake to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Contact details: Kite Realty Group Trust
Jason colton
Senior Vice President, Capital Markets and Investor Relations
317.713.2762
jcolton@kiterealty.com

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The Austin bungalow had charm. But he “needed everything”. https://awebdezine.com/the-austin-bungalow-had-charm-but-he-needed-everything/ https://awebdezine.com/the-austin-bungalow-had-charm-but-he-needed-everything/#respond Tue, 19 Oct 2021 13:45:26 +0000 https://awebdezine.com/the-austin-bungalow-had-charm-but-he-needed-everything/

Ricardo and Daphny Ainslie stumbled upon the house that would become their home while walking around the North University neighborhood of Austin, Texas in 2009 and noticing a dejected-looking man outside a compact bungalow from the 1920s.

“There was a real estate agent sitting literally head in hand on the front steps,” said Ainslie, 72, a professor of psychology at the University of Texas at Austin, who is also a writer, filmmaker and musician. .

After striking up a conversation, the agent told them that a potential buyer had just canceled a contract to purchase the home. “The reason is that they found so many issues,” Mr. Ainslie said, including issues with the foundation, plumbing and wiring.