Day: December 9, 2019

TORONTO, Dec. 09, 2019 (GLOBE NEWSWIRE) — Allied Properties Real Estate Investment Trust (TSX:AP.UN) announced today that it has entered into an agreement to acquire a large and important Class I complex in Montréal, 747 Square-Victoria Street (“747 Square-Victoria”), for $276 million. The agreement is subject to regulatory approval but not subject to due-diligence, which Allied has completed to its satisfaction.747 Square-Victoria Street, Montréal747 Square-Victoria is a Class I complex located in the heart of the International Quarter, a heritage- and amenity-rich area that connects the Downtown Core with Old Montréal. It will enhance Allied’s ability to serve knowledge-based organizations in urban Montréal as it transforms to a primary North American office market for TAMI (tech, advertising, media and information) users.Comprising...

TORONTO, 09 déc. 2019 (GLOBE NEWSWIRE) — Allied Properties Real Estate Investment Trust (TSX:AP.UN) (« Fonds de placements immobiliers Allied Properties », ci-après « Allied ») a annoncé aujourd’hui avoir conclu une convention d’achat (la « Convention ») en vue d’acquérir un complexe immobilier important de Classe I situé à Montréal au 747 rue Square-Victoria (« 747 Square-Victoria ») et ce, moyennant un prix de $276 millions. La Convention demeure assujettie à l’approbation des autorités règlementaires, mais n’est pas assujettie à la vérification diligente à l’égard de laquelle Allied s’est déclarée satisfaite.747 rue Square-Victoria, Montréal747 Square-Victoria est un complexe de Classe I situé au cœur du Quartier international, un site patrimonial important offrant de nombreuses commodités reliant le Centre-Ville et le Vieux-Montréal....

DALLAS, Dec. 09, 2019 (GLOBE NEWSWIRE) — Builders FirstSource, Inc. (Nasdaq: BLDR) today announced it has purchased the assets of Raney Components, LLC and Raney Construction, Inc. (“Raney”), located in Groveland, Florida.Founded in 1997, Raney is recognized in the industry for pioneering a vertically-integrated manufacturing and installation model which significantly improves labor productivity and reduces cycle times for customers.  Through this value-added approach, Raney supplies wall panels, roof trusses, roof decking, interior wall framing and other select building materials and then partners with sub-contractors to install these products in approximately three thousand homes per year to its production builder customers across Florida. Raney has annual revenue of approximately $140 million.  “I am thrilled to welcome Buddy...

NEW YORK, Dec. 09, 2019 (GLOBE NEWSWIRE) — StoneCastle Financial Corp. (NASDAQ: BANX) (“StoneCastle Financial” or the “Company”) today announced that ArrowMark Partners (“ArrowMark”) has entered into a definitive agreement to acquire the platform and assets of StoneCastle Asset Management LLC, the external investment adviser to the Company (“SAM”), through its subsidiary, StoneCastle-ArrowMark Asset Management LLC (“StoneCastle-ArrowMark”) and that the Company’s Board of Directors has appointed StoneCastle-ArrowMark as the new investment adviser to the Company, subject to stockholder approval and the closing of the transaction.  Through the transaction, ArrowMark intends to maximize the strengths of its approximately $8.3 billion credit investment management business and StoneCastle’s bank sector investment platform. ...

DAYTONA BEACH, Fla., Dec. 09, 2019 (GLOBE NEWSWIRE) — Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced the purchase of The Strand, an approximately 212,000 square foot shopping center in Jacksonville, Florida (the “Strand”), for $62.7 million.  The Strand is 95% occupied and has four anchor tenants: Hobby Lobby, Best Buy, 2nd & Charles and the PGA Superstore. The weighted average lease term for the leases of all 20 tenants at the Strand is approximately 9.5 years.  The Strand is adjacent to the 1.4 million square foot St. Johns Town Center, the upscale super-regional open-air mall co-owned and managed by the Simon Property Group that is home to over 150 tenants including Tiffany’s, Louis Vuitton, Tesla, Apple and Nordstrom.  The Company previously purchased five ground leases that are outparcels...