REAL ESTATE INVESTMENT
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).
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.
REAL ESTATE INVESTMENT
Newmark | January 03, 2022
Newmark Group, Inc., today announced that it has fortified its presence in the Central and Eastern European ('CEE') market through an agreement with a leading commercial real estate group in Poland. The team will provide a full spectrum of client services in Poland and the surrounding area, operating as Newmark Polska.
The 45-person team of real estate professionals based in Warsaw, Wrocław, Tricity and Krakow will benefit from combined resources, technology and product offerings to support Newmark's growing roster of clients in CEE. Led by industry veteran Piotr Kaszyński, the group offers services including tenant representation, market research, valuation and project management. The team will also leverage Newmark's global capital markets expertise, which equips clients with enhanced access to investment opportunities in North America and around the world.
We are thrilled to welcome Kaszyński and his team to the Newmark platform. Aligning ourselves with one of Poland's leading CRE teams is part of our strategy to build greater capabilities in CEE, a dynamic and evolving market, Poland's robust and diversified economy, which is benefiting from healthy GDP growth and low unemployment, signals substantial opportunity for the team across numerous business lines."
Newmark Chief Executive Officer Barry Gosin.
The enhanced regional presence will enable Newmark to better serve its clients' needs in Poland, where Newmark operates an existing Warsaw office focused on consulting, lease administration and facilities management. The country currently boasts record-breaking levels of market activity, and companies increasingly identify Poland as a target destination for a variety of functions, including nearshore technology and back-office operations.
The agreement underscores Newmark's successes in bolstering its presence throughout Europe, the Middle East and Africa ('EMEA'). Earlier this year, the company commenced its International Referrals program covering EMEA, and recently announced new regional leaders within its International Capital Markets and Valuations practices, in addition to the expansion of Newmark's own flexible office platform through the acquisition of two agile workspace providers in 2021: Knotel and Deskeo. In December, Newmark named Stuart Logan as Executive Managing Director of its Valuation & Advisory service line in EMEA.
Newmark Polska will build on the local team's recent track record of completing complex transactions, including the representation of world-class brands. In total, the group facilitated over 470,000 square meters in industrial and office transactions in 2020 alone.
We look forward to this new chapter for our practice, Newmark continues to demonstrate the wherewithal to invest in the best-in-class resources and talent to comprehensively serve the needs of its clients. Having evaluated Newmark's extensive platform over the years, we are confident in our ability to offer first-rate advisory services at the local, national, regional and global levels. As Newmark's business partner, we can now collaborate with the entire Newmark network to meet client needs going to or from Poland."
Piotr Kaszyński, Newmark Polska Managing Partner.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.5 billion for the trailing twelve months ending September 30, 2021. Newmark's company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world.
prnewswire | September 14, 2020
FL Cash Home Buyers, LLC buys, renovates, and resells properties in Florida. It has closed over 800 transactions since 2011. "It's been our mission since day one," says Omer. "We want to make a genuine difference and positive impact in this world. Both Gabe and I love helping people and donating to charity. Buying houses allows us to do both." The two owners met through yoga and the spiritual philosophy of yoga is the backbone of the company's culture. FL Cash Home Buyers donates a portion of all profits to charity and its goal is to donate $500,000 by the year 2030.