Facebook leases 1.5 million square feet at New York's Hudson Yards

Facebook | November 15, 2019

The social media giant has leased more than 1.5 million square feet of office space in the massive West Side development, Hudson Yards officials announced Thursday. The deal which marks a major expansion of Facebook’s presence in the Big Apple encompasses 30 floors across three buildings, including the forthcoming office tower at 50 Hudson Yards and the existing complexes at 30 and 55 Hudson Yards.

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REAL ESTATE INVESTMENT

Realty Income and VEREIT® Stockholders Approve Merger

Realty Income Corporation; VEREIT | August 16, 2021

Realty Income Corporation (NYSE: O) ("Realty Income"), The Monthly Dividend Company®, and VEREIT, Inc. (NYSE: VER) ("VEREIT") today announced that Realty Income stockholders and VEREIT stockholders approved all of the proposals necessary for the closing of the previously announced merger pursuant to which Realty Income will acquire VEREIT. At the special meeting of Realty Income stockholders held, approximately 98.9% of the votes cast were voted in favor of the issuance of new shares of Realty Income common stock to VEREIT stockholders as consideration in the merger, which votes represented approximately 66.0% of the outstanding shares of Realty Income common stock. At the special meeting of VEREIT stockholders held today, approximately 99.7% of the votes cast were voted in favor of the merger, which represented approximately 80.9% of the outstanding shares of VEREIT common stock. The final voting results on the proposals voted on at the special meetings will be set forth in each company's separate Form 8-Ks filed with the U.S. Securities and Exchange Commission after certification by its inspector of election. The merger is subject to customary closing conditions and is expected to close during the fourth quarter of 2021. Under the terms of the merger agreement, VEREIT shareholders will receive 0.705 shares of Realty Income stock for every share of VEREIT stock they own immediately prior to the effective time of the merger. About Realty Income Realty Income, The Monthly Dividend Company®, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats® index. We invest in people and places to deliver dependable monthly dividends that increase over time. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 6,700 real estate properties owned under long-term lease agreements with our commercial clients. To date, the company has declared 613 consecutive common stock monthly dividends throughout its 52-year operating history and increased the dividend 111 times since Realty Income's public listing in 1994 (NYSE: O). About VEREIT VEREIT is a full-service real estate operating company which owns and manages one of the largest portfolios of single-tenant commercial properties in the U.S. The Company has total real estate investments of $14.5 billion including approximately 3,900 properties and 88.9 million square feet. VEREIT's business model provides equity capital to creditworthy corporations in return for long-term leases on their properties. VEREIT is a publicly traded Maryland corporation listed on the New York Stock Exchange. VEREIT uses, and intends to continue to use, its Investor Relations website, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD.

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REAL ESTATE TECHNOLOGY

Dibbs Opens Construction Bidding App to Massachusetts to Disrupt the Construction Industry

Dibbs | May 17, 2022

Dibbs Technology is excited to announce the expansion of the iOS app to the Massachusetts area. After a successful launch in Rhode Island, the company is ready to expand its marketplace to Massachusetts. The app is the first of its kind in the construction industry to serve as a marketplace for both construction supplies and services. Rated a Top 10 startup company of 2021 and a 2022 Stevie Awards winner, Dibbs is designed to take the friction out of bidding, buying, and selling products and services in the construction and real estate marketplace. Based out of Newport, Rhode Island, the app has been launched in Rhode Island and currently has over 200 bids on the app with a total value of almost 3 million dollars. CEO and Founder Luke Fleury is also a General Contractor and Real Estate Developer in Rhode Island and explains why he created Dibbs. "I was tired of spending countless hours trying to find the best quotes for my projects, this is what inspired me to create Dibbs." Dibbs is an app that will allow contractors, suppliers, homeowners, and more, to find the people and projects that they want to work with. "With our built-in bidding templates, we cut the time it takes to place and receive bids in half" he adds. Having a CEO who understands the field and operates on a day-to-day basis with other contractors and suppliers, helps us to ensure we are creating a tool that actually helps our users. The COO also expressed that, "Dibbs can help people increase productivity and profitability. The app enables users to save money on their next project with more options and lower costs as well as higher quality." Case Olszewski,Dibbs COO and Co-Founder With the success the Dibbs team has already seen in Rhode Island they are expecting tradesmen in Massachusetts to quickly see the benefit of Dibbs and change the way they are bidding on projects. Users can expect an increase in productivity as well as saving money knowing they are getting the best price and quality on materials. Searching and contacting various sellers often requires multiple searches. While other apps offer lead generation tools, Dibbs provides customization and ease with their all-in-one marketplace for construction bidding.

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REAL ESTATE TECHNOLOGY

For home-sellers in a hurry, William Raveis Real Estate opens new doors.

Raveis | April 12, 2021

Low home loan rates, joined with popularity and low stock, have brought about an exceptionally serious housing market, making numerous potential purchasers stress over missing out on their fantasy home while their present property is recorded. William Raveis Real Estate, Mortgage and Insurance (WRRE), the top family-claimed land organization traversing the Northeast and Florida, settles this sell-before-you-purchase issue with another program called Raveis Purchase. Under Raveis Purchase, dispatched recently, WRRE will buy a customer's home, empowering them to open their home value rapidly so they can make a certain, non-unexpected proposal on their next home, which WRRE will likewise help them purchase, fund and guarantee. The program is the most advantageous assistance for a home-vender who needs to sell and purchase in a rush. WRRE will procure the house vender's property for an underlying installment of up to 80 percent of the current estimation of the home, opening most of the value and empowering the home-merchant to settle any home loans. Utilizing another new apparatus, Raveis Refresh, WRRE will at that point set up the home available to be purchased with their organization of master originators and exclusive merchant stage, making any essential overhauls and remodels to expand the home's estimation to guarantee the home sells at the greatest expense and as fast as could really be expected. When the home sells, the property holder will get the returns, which may surpass market assumptions and extra worth. This help is accessible all through Raveis' nine-state impression (Florida, Connecticut, Massachusetts, Rhode Island, Vermont, New Hampshire, Maine, New York, New Jersey) and for homes at all value focuses. "Raveis Purchase is the ultimate in hassle-free home-selling," said Ryan Raveis, Co-President of WRRE and President of William Raveis Mortgage. "For homeowners who want to maximize the value of their home and take advantage of this hot real estate market, Raveis Purchase is a no-brainer and a guaranteed sale. They will have cash in hand and be ready for their next home."

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