REAL ESTATE TECHNOLOGY,REAL ESTATE ADVICE
Morreale Real Estate Services, Inc. | August 04, 2022
Morreale Real Estate Services, Inc. announces the launch of the new and improved MSite for clients, transferees, and partners.
Over the past few years, the real estate industry has changed drastically, leaving businesses to shrink their turnaround times and increase their productivity. Morreale Real Estate Services addresses these changes and works daily to find the "secret sauce" to make the client relocation process as smooth and easy as possible for their clients.
During this time, the Development team at Morreale Real Estate Services has remodeled the MSite portal for our partners, as well as enhanced our MSite for our clients and their transferees. With this new technology available to our clients, transferees and partners, the relocation process has been made easier through our secure online MSite portal.
The experience our clients have with the Morreale Real Estate team is very important. This new and improved MSite portal is a simple, easy-to-use platform that will make the process of signing documents and returning them more advanced. Our secure system is sure to blow your mind!
"Over the past couple of years, Morreale Real Estate Services has made it a point to focus on the transferee experience when working with our office. This MSite is another great tool in our toolbelt when working with the client's transferring employee. Having our transferees electronically sign documents through our portal and return them to us is a more efficient experience that will speed up the process. We are excited to introduce this new method of working with our office."
-Aaron Raffel, COO at Morreale Real Estate Services
Cory Wilhelmi, Vice President of Client Services, adds Whether you're a transferee, client or partner, the new Morreale Real Estate MSite portal provides you with the tools to make every relocation successful. From uploading expenses for reimbursement or finding the best M-Preferred partner to work with on your transaction, this new and improved portal puts everything at your fingertips. I can't wait for our clients, partners, and transferees to try it out!
About Morreale Real Estate Services, Inc.
Morreale Real Estate Services, Inc. is an independent, family-owned organization that provides national title and closing services, acquisition and inventory management services, and accounting services to the corporate relocation and mortgage industry. With over 50 years of industry experience, our home purchase and destination programs are customized to meet your needs and are administered with award winning service and state of the art technology.
REAL ESTATE TECHNOLOGY
PS Business Parks | May 31, 2022
PS Business Parks, Inc. announced the expiration of the “go-shop” period set forth in the previously announced definitive merger agreement with affiliates of Blackstone Real Estate, dated as of April 24, 2022 (merger agreement). Under the terms of the merger agreement, Blackstone has agreed to acquire all the outstanding shares of the Company’s common stock for $187.50 per share in an all-cash transaction valued at approximately $7.6 billion, including transaction expenses. The “go-shop” period expired at 11:59 p.m. (New York City time) on May 25, 2022.
During the “go-shop” period, at the direction of PSB’s board of directors, representatives of J.P. Morgan Securities LLC and Eastdil Secured, financial advisors to PSB, actively solicited company acquisition proposals from 43 potentially interested third parties. To date, none of the third parties contacted by PSB or its financial advisors, or any other third parties, have made competing proposals following the execution of the merger agreement.
Upon expiration of the go-shop period, PSB became subject to customary “no-shop” provisions that limit PSB and its representatives’ ability to negotiate competing proposals with, or provide non-public information to, third parties, subject to exceptions specified in the merger agreement.
The transaction is expected to close in the third quarter of 2022, subject to approval by PSB’s stockholders and other customary closing conditions.
J.P. Morgan Securities LLC is acting as lead financial advisor to PSB and provided a fairness opinion to the PSB board of directors in connection with the transaction. Eastdil Secured is acting as real estate advisor to PSB and is also acting as a co-financial advisor to PSB. Wachtell, Lipton, Rosen & Katz is serving as PSB’s legal advisor.
About PS Business Parks
PS Business Parks, Inc., an S&P MidCap 400 company, is a REIT that acquires, develops, owns, and operates commercial properties, predominantly multi-tenant industrial, industrial-flex, and low-rise suburban office space. Located primarily in major coastal markets, PS Business Parks’ 96 properties serve approximately 4,900 tenants in 27.0 million square feet of space as of March 31, 2022. The portfolio also includes 800 residential units (inclusive of units in-process).
Muriya | July 18, 2022
Muriya, Oman's most diversified real estate developer, has announced the launch of Fanar Views, a new first-of-its-kind residential project primely located in Hawana Salalah. Just a five-minute walk to the Fanar Hotel & Residences beach, the marina and the destination's world-class amenities, Fanar Views offers luxurious waterfront living and a unique investment opportunity with high potential returns within a lucrative year-round rental market.
The project boasts a limited selection of townhouses, twin- and standalone villas, fully serviced and furnished, with private pools overlooking the lagoons. Properties in Fanar Views are available with one-, two- and three bedrooms, offering resort-style living in a developed community. Buyers of all nationalities can also enjoy lifetime family residency, complimentary use of the Fanar Hotel & Residences' swimming pool, beaches, sports facilities, gym, business center and exclusive discounts at the hotel's restaurants.
"With the Governorate of Dhofar continuing to gain standing as a sought-after tourist destination and growing real estate market, Fanar Views is a great choice for living as well as a robust investment opportunity. As the first such development in the area, Fanar Views offers an ideal base from which to experience the beauty of the Governorate, complete with access to all of what Hawana Salalah as well as the key offerings that Fanar Hotel & Residences have to offer, As our latest prestigious neighbourhood, Fanar Views is designed with luxury living in mind, and whether for couples, families, or as a lucrative rental with high return on investment potential in Oman's rapidly-expanding subtropical city, the new neighbourhood unlocks the exceptional."
Seif Elkhouly, Chief Development Officer, Muriya
At the heart of the Governorate of Dhofar sits Hawana Salalah, where resort living becomes a lifestyle. The destination offers plenty of opportunities to live and invest throughout a growing range of freehold properties. Meanwhile, across its 13.6 million sqm Land Area, it offers 1,100 hotel rooms, 7km white sandy beaches, a 170 berth Marina, an Aqua Park, and a variety of bustling restaurants and cafes. Drawing residents and tourists from near and far, Muriya's flagship destination is brimming with life, offering open space, natural surroundings, and a place to be enjoyed for generations to come.
Muriya, the developer of Hawana Salalah, is a partnership between the leading government arm for tourism development in Oman, Oman Tourism Development Company (OMRAN), and the internationally acclaimed developer of fully-integrated towns, Orascom Development Holding (ODH).
Combining global and local expertise, Muriya is a partnership between the internationally acclaimed developer of fully-integrated towns, Orascom Development Holding (ODH) (70%) and the leading government arm for tourism development in Oman, Oman Tourism Development Company (OMRAN) (30%). Established in 2006, Muriya has been leading a solid business performance boasting investments worth over $750 million in developing Oman's most iconic Integrated Tourism Complexes (ITCs), while highlighting the Sultanate's history, heritage and natural beauty in the process. "Building Communities, Enriching Lives" is Muriya's priority across its portfolio of projects that includes, Hawana Salalah, Jebel Sifah and As Sodah Island, located in the Indian Ocean across the southern coast of Dhofar.
Muriya's flagship destination Hawana Salalah is located in the tropical city of Salalah in the Governorate of Dhofar southeast of Oman, with an area of 13.6 million sqm and will house a total of seven hotels, of which the 577-room Fanar Hotel & Residences, the 422-room Salalah Rotana Resort, the 82-room Juweira Boutique Hotel and the 19-beachfront hut, Souly Lodge are operational; totalling the available luxury hotel rooms to 1,100. The destination is home to Oman's first aqua park, the Hawana Aqua Park, a 170-berth marina, freehold residences, which are available to own or rent, and retail venues, restaurants and cafes.
Jebel Sifah, located 40 minutes from the capital city of Muscat, is spread over 6.2 million sqm and is designed to include five world-class hotels, of which the 68-room Sifawy Boutique Hotel is operational. It also houses freehold residences, which are available to own or rent, an 84-berth marina, and a wide range of dining and leisure facilities, and the 9-hole PGA Harradine signature golf course, Muscat's first course offering spectacular sea and mountain views to golfers.