News Hub | News Direct

Real Estate

Commercial Home Building Property Management REIT Real Estate Residential
Article thumbnail News Release

Real Estate Financing Needs Innovation – Leading International Financiers Invest in New Challenger Fintech Platform To Benefit Investors and Borrowers

Nester

The Launch of the UK’s first Islamic finance compliant, peer-to-peer investment platform is set to provide fresh investment and real estate financing opportunities to communities, who have historically had a lack of financial products available. Nester aims to do this in a transparent, competitive, and timely manner. Nester has two core offerings, an investment product aiming to deliver favourable returns to investors and a real estate financing solution for property buyers seeking finance for development projects, commercial buy-to-lets and bridging at competitive rates. The traditional banking model of fractional reserve banking has not materially changed for some 150 years. Challenger banks have entered the market to start to introduce technology, improving the experience of customers with transparency and speed, but innovation is still needed and Nester aims to push this further in an inclusive manner for all communities. Investors and savers have historically resorted to depositing funds with a bank as the simple option of earning a return on their investment, albeit earning very little. Nester believes empowering its community of customers with knowledge of its investment products will allow investors to consider its fixed income investments secured on real estate in the UK, as a viable alternative to improve returns on customers savings. For some, this is the only option available where investment products don’t exist and these communities, that have been financially excluded, will benefit from the Nester solution. The Nester solution facilitates real estate financing and investment in a transparent, ethical and fair manner. Moreover, the shift towards a more technologically literate population and a broader offering from new tech startups has seen peer to peer and other break out sectors offer new opportunities to investors. Nester adds to this with a product that is available for all. Who is Nester? Nester introduces an innovative, ethical and digital alternative to legacy banking. The new technology empowered platform provides competitive and simple financing for borrowers, whilst providing an opportunity for investors that wish to support individual development or investment projects. Investors will have the opportunity to have significant reliable returns, secured by a first charge on the property asset itself. Nester has completed a significant pre-series A equity raise from multiple highly regarded investors to support an innovative invest/borrow approach via a bespoke software platform developed by the Nester team over the past three years. Founded on a culture of ethics, trust and transparency, Nester is the democratisation of real estate financing benefiting all property investors seeking finance, not just the ultra-wealthy. The Islamic finance compliant peer-to-peer platform allows borrowers direct access to bridging, refurbishment and property development financing options. How do they work? Investors provide capital investment to borrowers by investing in the financings directly, while their investment is secured on the underlying property asset(s). The transactions are sourced by Nester who in turn carefully screen and underwrite each deal themselves before offering the opportunity to investors. Nester is authorised and regulated by the Financial Conduct Authority (FCA) and ensures complete transparency and adherence to comprehensive risk mitigation to protect its customers. Nester has approved over £4million worth of borrowing which will be soon be available to Investors on the Nester platform. There are a number of additional transactions in the pipeline across the UK which are set to generate returns in excess of 6.0% per annum. Who is behind Nester? Heading up the Nester business day to day is Co-Founder and CEO: Youness Abidou – An accountant by qualification and formerly Senior Relationship Manager at Bank ABC, VP of Real Estate Structured Finance at Gatehouse Bank PLC and Islamic Finance specialist. ‘Nester takes a rather different approach and aims to provide favourable investor returns on a monthly basis whilst also facilitating access to financing for SME borrowers, all in relation to customers that were previously excluded from financial products. It’s a simple, efficient platform led process using our own credit risk scoring algorithm led technology, with rigorous due diligence carried out by experts and all secured on the property assets themselves’. ‘We have assembled a star-chamber of talent and investment to support the Nester business who all hail from the very top levels of global finance - indicative of the strength of our product and of our team. I’m humbled to be part of such a collective of like-minded, highly respected professionals as we strive to challenge and democratise real estate financing and the Islamic Finance industry.” And the notable individuals supporting the Nester business: Mohammed Paracha - Co-Founder Senior lawyer and Islamic Finance specialist at Norton Rose Fulbright where he is Head of the Middle East. Formerly a member of the Bank of England Committee on Islamic Finance, Lead at Dubai Islamic Economy Development Centre and CEO and Head of Europe at Al Salam Europe Ltd, European arm of Al Salam Bank in Bahrain. “One of the reasons I have co-founded Nester with Youness is to reset our ‘default’ thinking when it comes to our day-to-day investment needs. We are pre-programmed from a young age to use banks in a certain way, including for all our investments.’ ‘A core driver for me is to address financial inclusion which is also at the heart of Islamic finance, advocating for a fairer way to distribute wealth compared to the traditional fractional reserve banking model that is still used by banks. Nester gives a real alternative for both borrowers and investors and we hope that our journey together will be enlightening.” Iqbal Khan –Investor through his Family Office; Baraka Khan Family Office. Founding Chief Executive of HSBC Amanah & Fajr Capital; Board Member at Jadwa Investments Saudi Arabia; and the MENA Infrastructure Fund. “I have had the privilege to contribute to the success of the Islamic Finance industry in numerous countries and this, my investment in Nester, is exciting in that it is the first such Fintech platform that ensures an ethically compliant structure that offers innovative financing and investment solution to a sector that has long needed innovation,” says Iqbal Khan. Tariq Usmani MBE – Key Investor CEO and Co-Founder of Henley Homes, the residential developer. Chair of the West London Islamic Centre and Mosaic’s Ex-Offender Programme. “This is the beginning of the democratisation of real estate investment, whether one is acquiring real estate and needs financing or interested in earning a fixed return with real estate as security. Nester is innovative and focused on inclusion for all. With this ethos at the heart of its offering I am delighted to be a Director and Key Investor in this business” says Tariq Usmani MBE, a Key Investor Ends. Notes to Editors Launched in 2021,is an Islamic Finance compliant property-backed, adapted peer to peer framework platform for investors and borrowers. Nester’s CEO is Youness Abidou, a veteran of banking, accountancy and Islamic Finance Nester is backed by some of the best known and most respected senior financers and Islamic Finance specialists in the world Borrowers seeking property bridging, development and refurbishment finance can apply directly via the platform. Investors provide funds via the platform to Nester, secured against property assets. Nester invests in secure real estate assets, concentrated on high-quality commercial and residential sectors with a focus on the UK market. Nester’s vision embraces a new, highly competitive approach that aims to serve the entire community and led by ethics, transparency and compliant principles Nester is regulated by the Financial Conduct Authority in the UK. Contact Details ProperPR, Director Russell Quirk +44 7930 336544 russell@ProperPR.co.uk ProperPR, Director James Lockett +44 7584 248960 james@ProperPR.co.uk

December 16, 2021 02:50 AM Eastern Standard Time

Image
Article thumbnail News Release

NODE EXPANDS INTO SPAIN WITH STARCITY SPAIN ACQUISITION

Node Living

Global build-to-rent and coliving asset manager Node has acquired Starcity Spain S.L. to expand its high density urban living platform into Iberia. The Spanish platform will start with the repositioning and restoration of nine city centre residences in Barcelona and the development of purpose-built communities near key transport hubs in major Spanish cities. All communities will be operated under the Node brand. Node is pioneering the concept of curated living, a next generation, high density urban rental community that offers furnished studios, one bedroom and shared living accommodation for an all inclusive price with utilities and wifi included. Amenities include a variety of residents' lounges, wellness centres and coworking spaces to cater for the increasing trend of working from home. Members can join a unique global community with Node locations across North America and Europe and participate in curated events. “We are excited about our expansion into Spain, our fifth country of operations in five years since we started. The Spanish market has huge demand for an affordable and flexible rental offer that meets the needs of young urban professionals. This Spanish venture is proof of the success and global scalability of our business model in a post-COVID environment” said Anil Khera, Founder & CEO of Node. “We are delighted to partner with Node In what we see as a global consolidation of the coliving and urban living sector. The Node platform uniquely positions us for the next phase of growth in Spain, combining our Barcelona based team and portfolio with Node's global expertise, which will make us the largest and most experienced coliving company in Spain and a European market leader,” said Esteve Almirall, Partner and Head of Iberia at Node and co-founder of Starcity Spain. Node is uniquely positioned in the market as a 100% founder owned company, which unlike venture backed platforms, has allowed it to focus on building a long term, sustainable business. Node partners with local developers and invests alongside them and institutional investors to develop a new generation of urban rental assets. Node is planning large-scale expansion in the UK, Ireland, Spain, Canada and the US off the back of its recent success in cities including New York, Los Angeles, London and Dublin and has a current pipeline of 8,000 beds totalling over $1.5 billion in asset value. Node’s coliving model has stood strong over COVID “Cities are thriving again, 20-30 somethings were the first to return back to city living. Urban environments foster social interaction, creativity, and personal and professional growth by bringing people together. In all of our cities we are back to pre-COVID rents and occupancies”, said Anil Khera. Many co-living concepts have failed during the pandemic, primarily due to their tiny rooms and dorm-like feeling. The Node model of curated living is different - an offering that combines inspiring interior design and a diverse community of global members similar to Soho House, but within the context of urban living. Node's branded approach to urban living and its business model has proven highly successful during COVID. Node offers larger sized units, with creatively interior designed spaces and amenities such as SMEG retro fridges, Nest eco-thermostats and an app that connects all residents. There are communal areas for residents to socialise in, but the units are also large enough to allow for self-isolation or simply privacy. Living in a Node building has been a blessing to some residents who have been able to reside in their own apartment spaces but not feel lonely due to the communal living spaces. Node provides residents with a vibrant daytime community in which to work from home; a central, walkable neighbourhood; a "plug and play" interior designed apartment with excellent Wi-Fi; and a safe, sanitary, and professionally managed environment. "Our concept of curated living, where we give people the benefits of community living but still with the ability to have the privacy of their own home, has been the perfect mix in a pandemic. Residents are still not isolated as they are part of a building where people know and look out for each other. Roommates who do share a unit have created their safe bubble. Those who have individual units have private areas but feel secure yet not isolated. We have found a good balance of where dense urban living needs to be for the future." Live. Connect. Thrive. Why Node stands out. Node currently has communities in North America and Europe and has been home to hundreds of residents to date. Crafted for urban professionals, with world renowned design firm DesignAgency, Node’s move-in ready apartments offer sleek in-unit and shared amenities, from gorgeous, hi-spec kitchens to communal coworking spaces. Hassle-free Node living includes utilities and units are uniquely interior designed. Residents can look forward to amenities including: Locally curated artwork, cleaning services, kitchen, bed and bath packs are also available for residents who want to move in with a suitcase to an “Instagram ready” Node apartment Founder Bio. Anil Khera founded Node in 2016, and is the company’s founder and CEO. Anil has worked in real estate for nearly 20 years in the US, Europe and Asia, and was formerly a Managing Director at Blackstone, the world's largest real estate investment firm. Prior to that he worked at Credit Suisse / DLJ in Los Angeles. For more information, please visit: www.node-living.com Instagram: node.living Facebook: @nodelivingglobal LinkedIn: node. About Node Node is a global asset management company that invests, develops and manages high density urban rental communities in creative capital cities around the world. Our mission is to create the next generation of urban living with affordable, design-led and community focused residences that meet the growing needs of urban renters. Node residences are in cities throughout North America and Europe. Contact Details Node Living Nia Thomas +44 7723 019767 Nia@niapr.com Company Website https://node-living.com/

December 14, 2021 08:00 AM Eastern Standard Time

Image
Article thumbnail News Release

PCMA Private Client is Presenting 27th Annual ABS East Conference

PCMA

PCMA, the pioneer and leading voice in Non-Bank Private Client Lending, will be presenting at the 27 th Annual ABS East Conference; Tuesday Dec. 14 th at 9am PT/12:00pm ET. CEO and Founder of PCMA, John R. Lynch, will be speaking on the “Trends in NonQM MBS” panel addressing the growing Private Client lending market; the importance of differentiation in the NonQM space; and other key trends impacting the market.. “The NonQM marketplace is exploding but with this rapid growth has come confusion and questions; by both consumers as well as industry players,” said John Lynch, CEO and Founder of PCMA. “I look forward to talking with the other distinguished panelists about the trends happening in the NonQM space, as well as give expert insight into bespoke lending options for high and ultra-high net-worth clients; a category that is largely ignored by the industry.” John R. Lynch will contribute to the discussion on “ Trends in NonQM MBS ” panel alongside fellow industry expert panelists: Steven Schwalb, Partner at Angel Oak; Rudy Orman, Director of Correspondent Sales and Product Development at Reliant Bank; Robert Durden, Managing Director at Credit Suisse; Sharif Mahdavian, Managing Director, RMBS at KBRA; along with panel host Sadie Gurley, General Manager/Head of Capital Markets at Maxwell. “The experience of our management team and our commitment to Non-Agency Credit expansion has afforded PCMA to grow its credit facilities and expand lending guidelines, gaining market share month over month in the highly coveted Private Client community.” said Lynch. “PCMA will continue to lead the way in innovative credit strategies for high capacity estates; giving Private Clients optionality and flexibility they require, and deserve.” PCMA is the leading Non-Bank Private Client lending organization serving the needs of their mass affluent and high net worth clientele. PCMA offers qualified individuals and institutions bespoke lending solutions across all major residential asset classes. PCMA is a diversified financial enterprise offering private client solutions through a direct to consumer and distributed retail business model. PCMA strives to build trusting and enduring relationships by putting clients and professional partners at the center of all they do. PCMA is headquartered in Orange County, CA. Additional information is available at www.pcma.us.com Contact Details Jason Jepson +1 949-394-7033 jason.jepson@pcma.us.com Company Website https://pcma.mortgage/

December 13, 2021 12:00 PM Eastern Standard Time

Article thumbnail News Release

Copper Property CTL Pass Through Trust Issues Monthly Reporting Package for November 2021

Copper Property CTL Pass Through Trust

Copper Property CTL Pass Through Trust (“the Trust”), has filed a Form 8-K containing its monthly report for the period ended November 30, 2021 and its 2022 total operating expense budget. An aggregate total distribution of $57.0 Million or $0.759555 per trust certificate will be paid on December 10, 2021 to certificateholders of record as of December 9, 2021. Additional information can be obtained on the Monthly Distribution Statement, which can be found on the Trust’s website at https://www.ctltrust.net/. About Copper Property CTL Pass Through Trust Copper Property CTL Pass Through Trust (the “Trust”) was established to acquire 160 retail properties and 6 warehouse distribution centers (the “Properties”) from J.C. Penney as part of its Chapter 11 plan of reorganization. The Trust’s operations consist solely of owning, leasing and selling the Properties. The Trust’s objective is to sell the Properties to third-party purchasers as promptly as practicable. The Trustee of the trust is GLAS Trust Company LLC. The Trust is externally managed by an affiliate of Hilco Real Estate LLC. The Trust is intended to be treated, for tax purposes, as a liquidating trust within the meaning of United States Treasury Regulation Section 301.7701-4(d). For more information, please visit https://www.ctltrust.net/. Forward Looking Statement This news release contains certain “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “our vision,” “plan,” “potential,” “preliminary,” “predict,” “should,” “will,” or “would” or the negative thereof or other variations thereof or comparable terminology and include, but are not limited to, the Trust’s expectations or beliefs concerning future events and stock price performance. The Trust has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Trust believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These factors, including those discussed in the Trust’s Registration Statement on Form 10 filed with the Securities and Exchange Commission (the “SEC”), may cause its actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Trust’s filings with the SEC that are available at www.sec.gov. The Trust cautions you that the list of important factors included in the Trust’s SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this news release may not in fact occur. The Trust undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Contact Details Copper Property CTL Pass Through Trust Larry Finger | Principal Financial Officer +1 310-526-1707 lfinger@ctltrust.net IRRealized LLC Mary Jensen | Investor Relations +1 310-526-1707 mary@irrealized.com Company Website https://ctltrust.net/about/default.aspx

December 09, 2021 03:20 PM Central Standard Time

Article thumbnail News Release

a360inc Chooses Provana to Bring Expanded e-Filing and Enhanced Data Analytics Solutions to Mortgage Default Servicing Industry

Provana

Provana, provider of the industry's first unified platform for compliance and performance management, today announced a new partnership with a360inc, to enhance and expand technology-enabled solutions to default servicing law firms. Building on both companies' extensive expertise in the legal and financial services industries, a360inc clients will benefit from expanded e-filing capabilities and advanced data analytics tools. Scott Brinkley, Chief Executive Officer of a360inc, noted, “We’re excited to partner with Provana to offer our technology clients enhanced e-filing and BI reporting capabilities. With Provana’s nationwide e-filing solutions now accessible through all a360inc applications, our clients will have seamless access to services that better position their businesses to navigate the unpredictability of the current mortgage servicing market.” “The partnership comes at a critical time for foreclosure firms, when scale and flexibility are primary concerns, given the rapidly changing economic and regulatory landscape,” said Provana Chief Executive Officer Sandeep Bhargava. “Formalizing this relationship between a360inc and Provana builds on our promise to work with SMBs to help them overcome process-intensive challenges for higher productivity and profit.” “After working with both Provana and a360inc for many years, I’m excited to see the two companies join forces,” said Jim Ward, Chief Executive Officer of ProVest. “Together, Provana and a360inc deliver a powerful combination of technology and services that can help mortgage default servicing law firms focus on their core competencies and maximize productivity and profitability.” For up-to-date information about specific implementations, contact us. Clients can also learn more about the benefits of these unique technology solutions, schedule custom demos and meet representatives from both companies during the MBA Servicing Conference in February. About Provana Provana’s SaaS-based digital operating platform is the first of its kind, giving leaders control over process-intensive operations. We serve law firms, insurance companies, accounts receivable agencies and networked enterprises in the US market that are tightly regulated by the CFPB and other authorities. Built on decades of experience in machine learning, natural language processing and business process management, Provana helps customers manage sensitive interactions, analyze unstructured data, process personal information and ensure compliance. Provana is backed by a NYC-based Fintech PE, most recently raising funds in November 2020. Learn more at www.provana.com. About a360inc a360inc is a leading technology and outsourcing services provider to the financial services, real estate, and legal industries. Based in Addison, TX, a360inc provides case management system technology and outsourcing services to law firms, title agencies, underwriters, mortgage companies and investors. Learn more about a360inc and its suite of products and services online at www.a360inc.com. About Provana Provana is a SaaS platform that gives leaders control over process-intensive operations. We serve law firms, insurance companies, accounts receivable agencies and networked enterprises in the US market that are tightly regulated by the CFPB and other authorities. Provana is built on decades of experience in machine learning and natural language processing and helps customers manage sensitive interactions, analyze unstructured data, process personal information and ensure compliance. Provana is backed by a NYC-based Fintech PE, most recently raising funds in November 2020. Learn more at www.provana.com. Contact Details Provana Britney Schaeffer +1 469-774-2409 britney.schaeffer@provana.com a360inc Amber Benson +1 469-640-0432 amber.benson@sqft.management Company Website https://www.provana.com/

December 08, 2021 11:54 AM Central Standard Time

Article thumbnail News Release

The Spring District’s Block 13 Pre-Leased by Meta

Wright Runstad

Wright Runstad & Company (“Wright Runstad”) and Shorenstein Properties (“Shorenstein") today announced they have pre-leased their planned 213,000 square foot Block 13 project in the Spring District to Meta. It is the fifth building in the Spring District to be leased by Meta, bringing its total leased area in the neighborhood to over 1.4 million square feet. The Block 13 project will be located between Block 20, the former REI headquarters which was purchased by Meta in 2020, and the University of Washington’s Global Innovation Exchange. The Block 13 project was designed by NBBJ and will be constructed by BN Builders as the general contractor. Construction will commence in 2022 and completion is expected in 2024. “The successful pre-lease of the Block 13 project further exemplifies the considerable demand for commercial space in the thriving Spring District,” said Greg Johnson, CEO of Wright Runstad. “We look forward to providing our tenants with the unique and industry-leading amenities they have come to expect from us.” The transit-oriented and sustainable Spring District is Bellevue’s most exciting new neighborhood. In addition to Meta’s significant presence, it is also home to the Global Innovation Exchange, which opened in 2017. It also features over 800 residential units and Bellevue Brewing Company’s new location which is scheduled to open in 2022. More information about The Spring District can be found at www.thespringdistrict.com. About Wright Runstad & Company: Seattle-based Wright Runstad & Company develops, acquires, manages and leases high-quality commercial office and mixed-use buildings located primarily in the Pacific Northwest. The company is in its fifth decade as one of the region's premier real estate development and operating companies, delivering outstanding property performance and superior investment returns. Wright Runstad & Company maintains an exceptional reputation among tenants and institutional investors for its demonstrated commitment to integrity and high levels of quality and service. For additional information visit: www.wrightrunstad.com About Shorenstein Properties: Founded in 1960, Shorenstein Properties LLC is a privately-owned, real estate firm that owns and operates high-quality office, residential and mixed-use properties across the U.S., with offices in San Francisco and New York. Since 1992, Shorenstein has sponsored twelve closed-end investment funds with total equity commitments of $8.8 billion, of which Shorenstein committed $723.5 million. The firm uses its integrated investment and operating capabilities to take advantage of opportunities that, at the particular time in the investment cycle, offer the most attractive returns. Investments have included ground-up developments, asset repositioning and stabilized assets; investment structures have included asset acquisitions, mezzanine loans, preferred equity investments and structured joint ventures. More information is available at www.shorenstein.com. Contact Details Forrest Carman +1 206-859-3118 forrestc@owenmedia.com Company Website https://thespringdistrict.com/

December 06, 2021 12:00 PM Pacific Standard Time

Article thumbnail News Release

Kitchen Magic Announces 2022 Kitchen Design Forecast

Kitchen Magic

Kitchen Magic, a family-owned and operated kitchen remodeling company with over 41 years of experience under its toolbelt, announced today its forecast for what the top trends in kitchen design will be in 2022, keeping homeowners informed on how to stay on the cutting edge of remodeling in the new year. According to the Joint Center for Housing Studies at Harvard University, elevated spending on residential remodeling projects will continue well into 2022. After a time of unprecedented change that spurred an exponential increase in the time homeowners spent at their homes and in their kitchens, kitchen design as we knew it, changed forever. Homeowners are still looking to further improve their kitchens, inspired by a renewed appreciation for the most used room in the home. With the new year presenting a much-needed fresh start for many, Kitchen Magic is committed to keeping clients on the forefront, uncovering ways to refresh the kitchen by way of remodeling, thus, helping them achieve their renovation resolutions. “In 2022, homeowners will be looking to optimize space and service areas in the kitchen,” said JT Norman, Product & Design Innovation Lead for Kitchen Magic. "Building up these functional areas sets the stage for a sleek and clean kitchen aesthetic.” The company’s design and innovation experts have pulled together a forecast that truly coincides with the clutter-free and practicality often associated with a new beginning. A small sampling of the 2022 Kitchen Magic design trends forecast includes: Knobs & Pulls: The Jewelry of the Kitchen Brass, gold, and champagne tone fixtures are the latest in kitchen hardware. A gold finish is one of the best ways to a add a touch of glamour to the kitchen. Forest Bathing This trend brings the outside inside using materials such as wood, stone, and greenery. When deciding on a palette, think deep, rustic hues and use of color in unexpected places such as appliances and hoods. Scandinavian Influence This trend can be described in 3 words: Clean. Minimalist. Simple. This motif features smooth, straight lines; open floor plans; large glass windows; low profile cabinetry; and geometric shapes. Vinyl is in Vogue Product manufacturing technology has come a long way with homeowners impressed by the fact that they are unable to distinguish vinyl flooring from real wood or stone. It’s one of the more cost-effective flooring options on the market. This product trend will continue past 2022 because of vinyl flooring’s durability and designs. While many homeowners are waiting for January 1 st to commence any remodeling projects, Kitchen Magic hopes that this kitchen design forecast will inspire clients to be “out with the old, in with the new” ahead of the new year. Kitchen Magic’s full 2022 kitchen design trends forecast can be downloaded here. Kitchen Magic has teams of consultants across the Northeast to help homeowners in these regions envision their upcoming projects. To learn more and schedule your free consultation, visit www.kitchenmagic.com. About Kitchen Magic Kitchen Magic is a kitchen remodeling company with headquarters and manufacturing facilities located in Nazareth, PA. Kitchen Magic has been family-owned and operated since 1979. Using an exclusive cabinet refacing process, Kitchen Magic has transformed nearly 60,000 kitchens. Today, Kitchen Magic serves CT, DE, MA, NJ, NY, PA, and RI. Kitchen Magic is recognized by Qualified Remodeler as #1 in kitchen remodeling nationwide, an 11-time Angie's List Super Service Award winner, a Best of Houzz winner for design & service 10 times, and an honored 8-time winner of The Morning Call's Top Workplace Award. Contact Details Kitchen Magic LInda Fennessy +1 800-237-0799 linda.fennessy@kitchenmagic.com Direct Linda Fennessy +1 610-217-0964 Company Website https://www.kitchenmagic.com

December 02, 2021 09:13 AM Eastern Standard Time

Image
Article thumbnail News Release

New Legal & General Study on Millennials and Housing Takes on Intergenerational Conflict Over Home Ownership

Legal & General

About half (48%) of non-home owning millennials are saving for a down payment 55% of those who are saving can’t afford to buy yet 12% of millennials abandoned their plans to buy a home 13% of millennials considering a Covid-driven move want to be nearer to family; 8% wanted to move away from family “Thanks Boomers.” There’s a quasi-war over housing going on between U.S. millennials and the generations comprising their parents and grandparents, with many 25- to 40-year-olds caught between blaming older generations for their difficulties in becoming homeowners and feeling dependent on them for necessary financial help if they are ever to succeed. Today, the fourth part of a broad new study conducted by Legal & General Group, U.S. Millennials and Home Ownership – A Distant Dream for Most, is released, diving into the deeply-held grudge millennials hold against Baby Boomers in particular for thwarting their home buying plans. This fourth segment of the data-rich study, Mind the Gap: The Intergenerational Home Ownership Blues, looks at the skyrocketing cost of housing and how changing intergenerational housing needs and other unseen factors are contributing to the reality of housing unattainability for many millennials. With longer healthy life expectancies than ever before, Baby Boomers are deciding to downsize but remain in privately owned housing, putting a strain on affordable housing stock just as the younger generation of home buyers want to buy starter houses. While the long-term consequences of these demographic shifts are still unfolding, the study found other factors exerting added pressure on the housing market, including institutional investment. Legal & General Group Chief Executive Nigel Wilson commented: “The severe shortage of affordable housing in the U.S., as well as the disproportionate amount of wealth held by older generations, significantly mirrors what we’re seeing in the U.K. Beyond older generations staying put in their own homes or being in a more competitive position to purchase starter-size smaller homes as they downsize, we see other market forces at work which are worsening the supply-demand imbalance. In the U.K. at Legal & General, as part of the solution to this imbalance, we are building a larger stock of affordable homes for first time buyers to purchase, as well as creating more opportunities for ownership through rent-to-buy programs.” Study Co-Author and Legal & General Corporate Affairs Director John Godfrey notes: “The proportion of 30-year-old U.S. home buyers has gone down steadily with each passing generation—over half of Baby Boomers owned a home at 30, 48 percent of Gen Xers, and so far millennials are at the bottom with just 42 percent. Considering that home ownership is a fundamental way to build wealth, it bodes poorly for millennials that affordable housing is becoming increasingly inaccessible to them. We should be meeting the demand by creating more opportunity, not less, for home ownership.” Legal & General’s study looks not only at the intergenerational housing gap, but also at demographic choices based on age and life stage, and at various drivers shaping these choices, including corporate investment and the rising cost of housing. The next segment of the study will look at the role of student loans and medical debt in hindering millennials in their home ownership quest. # # # Media Contact: For more information on the 2021 U.S. Millennials and Home Ownership study, or to see a copy of Part 4 of the report, please contact: Meir Kahtan: mkahtan@rcn.com +1 917-864-0800 Meir Kahtan Public Relations, LLC Notes To Editors The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions. About the Study Legal & General undertook proprietary research into the attitudes and changes, as well as geographic shifts, U.S. Millennials are experiencing in relation to home purchases and affordable housing. The U.S. Millennials and Home Ownership research was compiled using original survey data 875 U.S. based Millennials who don’t own a property, then segmented into three distinct age groups and other demographic markers. The survey work was carried out by Legal & General. Fieldwork was undertaken during March and April 2021. All surveys were carried out online. About Legal & General Group Established in 1836, Legal & General is one of the UK’s leading financial services groups and a major global investor, with international businesses in the U.S., Europe, Middle East and Asia. With over $1.4 trillion in total assets under management, Legal & General is the UK’s largest investment manager for corporate pension schemes and a UK market leader in pension risk transfer, life insurance, workplace pensions and retirement income. Contact Details Meir Kahtan +1 917-864-0800 mkahtan@rcn.com Company Website https://www.legalandgeneralgroup.com/

December 01, 2021 09:00 AM Eastern Standard Time

Article thumbnail News Release

UK SMEs forge ahead with cautious optimism as post-pandemic business confidence grows

Stockwood Strategy

Despite lingering anxieties about the pandemic and a variety of economic and commercial issues, the majority of SMEs believe it is now imperative to begin building back from the crisis. They are ready to step up their business investment, with ambitious plans for recruitment, renewal of equipment and machinery, and both domestic and international expansion. Fintech business lender MarketFinance asked 2,000 SME owners across the UK about their outlook for 2022 and beyond, gauging their short and long-term plans for business investment and growth. MarketFinance has today released a comprehensive research report of its findings. Confidence Analysis of the survey results has shown that business confidence amongst SMEs is improving, with many firms now focused on recovery and growth. With pandemic disruptions now largely settled, half of SMEs (48%) expect their turnover to stabilise or to increase over the next 12 months. Similarly, 50% of SMEs expect demand for their products or services to stabilise or to increase over the next six months. MarketFinance’s research has found that the majority of SMEs (63%) expect their business to grow over the next three years Investment With survival mode no longer a necessity and cash flow pressures beginning to ease, the vast majority of SMEs (70%) now feel confident enough to increase business investment over the next 12 months. A quarter of SMEs plan to hire new staff, while 24% expect to purchase new equipment and machinery. When asked how they were factoring borrowing into their investment plans, 23% of SMEs said access to a broader range of borrowing options could enable them to increase investment even further. Borrowing The research findings demonstrate that borrowing will play a key role in recovery and growth with 62% of SMEs saying that prudent borrowing could help them fund growth. However, three quarters (71%) of SMEs do not believe traditional banking products are the most obvious and convenient way to borrow for investment. Despite this lack of alignment between current finance needs and the options available through traditional routes, more than a third of SMEs (37%) are looking to take on new borrowing facilities. Growth With confidence high and a sense of having moved beyond recovery and into a new stage of growth, many businesses are looking forward to seizing a host of opportunities in 2022. Almost all SMEs surveyed (81%) plan to invest in sustainability, while 30% say they are considering merger and acquisition (M&A) activity in the year ahead – more than twice as many as those primarily focusing on organic growth (14%). Over a third of businesses (34%) say they already sell overseas, or have plans to begin doing so. That figure is highest amongst the largest businesses surveyed (turnover between £5m and £6.5m) but even amongst smaller enterprises significant numbers are focused on export. Anil Stocker, CEO at MarketFinance, commented: “ It’s clear that the business environment has shifted and SMEs are looking ahead with a quietly confident and cautiously optimistic view. UK businesses intend to ramp up growth through domestic and international expansion, digital transformation and even M&A activity. But as they reset their post-pandemic goals for a post-pandemic, they’ll need to be confident of their funding base. Given that so many SMEs are looking outside of traditional routes in their search for finance, we’re particularly proud to have been accredited by the British Business Bank as one of the few alternative providers under The Recovery Loan Scheme. Schemes like the RLS are a golden opportunity for SMEs looking to gear up for growth, providing easily accessible funding at a lower cost across a wide range of products. We expect to see a large number of SMEs taking advantage of the scheme over the next 6 months as their growth and expansion efforts gain momentum and they invest in ambitious plans for 2022 and beyond.” About MarketFinance MarketFinance is a fintech business lender which believes that SMEs are building the world. By making finance frictionless, they’re solving the cash flow issues getting in the way of progress. MarketFinance uses smart technology to deliver better access to faster, more affordable finance; with one-to-one help whenever businesses need it. Since 2011, MarketFinance has advanced over £2.6 billion worth of invoices and loans, enabling thousands of UK businesses to bridge today’s funding gaps and fuel tomorrow’s big ambitions. MarketFinance is an accredited Recover Loan Scheme lender and has a wide-reaching network of strategic partners including Barclays Bank UK PLC, Tide, Equals Group and Ebury. MarketFinance is backed by Barclays Bank UK PLC, Mouro Capital, Paul Forster (co-founder of Indeed.com) European venture capital fund Northzone (invested in Klarna, iZettle and Trustpilot), Viola Capital and private equity group MCI Capital (also invested in iZettle, Azimo and Gett). Further information visit: www.marketfinance.com Contact Details MarketFinance Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://marketfinance.com/

December 01, 2021 08:00 AM Eastern Standard Time

Image
1 ... 7374757677 ... 93