CalSTRS venture will invest $1B in build-to-rent homes

first_img Share via Shortlink Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Tags CalSTRS CEO Jack Ehnes and PCCP partner Jim Galovan (Photos via iStock, CalSTRS, PCCP)The nation’s second largest public pension fund and an investment firm are placing a big bet on build-to-rent housing.California State Teachers’ Retirement System and Pacific Coast Capital Partners have formed a $1 billion joint venture to invest in the fast-growing single-family housing sector, according to the Los Angeles Business Journal.The venture will focus on build-to-rent communities in primary and secondary markets across the country. It will acquire existing properties and construct new single-family developments.CalSTRS and PCCP have so far paid $240 million for five build-to-rent properties in Atlanta; Jacksonville, Florida; Nashville, Tennessee; and Raleigh, North Carolina.“With a nationwide shortage of single-family housing supply, we see the strongest demand for the [build-for-rent] sector coming from millennials and baby boomers,” PCCP’s Jim Galovan said in a statement. The duo is targeting homes between 1,200 square feet and 2,000 square feet, which Galovan said are in particular demand among renters because of their price point.The pandemic has led to a surge in demand for housing outside urban areas, and has also pushed prices up. A growing number of individuals and families who have struggled with social distancing in large apartment buildings are opting for more indoor and outdoor space in the suburbs once their leases are up.Investors are seeing opportunity. Firms like NexMetro, Brookfield Asset Management, and American Homes 4 Rent are also betting big on the build-to-rent sector.More than 50,000 build-to-rent homes were constructed in the 12 months ending on Sept. 30, according to a recent report. That was 66 percent more than the average over the last 40 years.Last week, developer Quinn Residences said it was planning to construct 8,000 build-to-rent houses in the Southeast after a $500 million commitment from an investor. [LABJ] — Dennis Lynch  Housing MarketSingle Family Rentalslast_img read more

Pan-Arctic surface ozone: modelling vs. measurements

first_imgWithin the framework of the International Arctic Systems for Observing the Atmosphere (IASOA), we report a modelling-based study on surface ozone across the Arctic. We use surface ozone from six sites – Summit (Greenland), Pallas (Finland), Barrow (USA), Alert (Canada), Tiksi (Russia), and Villum Research Station (VRS) at Station Nord (North Greenland, Danish realm) – and ozone-sonde data from three Canadian sites: Resolute, Eureka, and Alert. Two global chemistry models – a global chemistry transport model (parallelised-Tropospheric Offline Model of Chemistry and Transport, p-TOMCAT) and a global chemistry climate model (United Kingdom Chemistry and Aerosol, UKCA) – are used for model data comparisons. Remotely sensed data of BrO from the GOME-2 satellite instrument and ground-based multi-axis differential optical absorption spectroscopy (MAX-DOAS) at Eureka, Canada, are used for model validation. The observed climatology data show that spring surface ozone at coastal sites is heavily depleted, making ozone seasonality at Arctic coastal sites distinctly different from that at inland sites. Model simulations show that surface ozone can be greatly reduced by bromine chemistry. In April, bromine chemistry can cause a net ozone loss (monthly mean) of 10–20 ppbv, with almost half attributable to open-ocean-sourced bromine and the rest to sea-ice-sourced bromine. However, the open-ocean-sourced bromine, via sea spray bromide depletion, cannot by itself produce ozone depletion events (ODEs; defined as ozone volume mixing ratios, VMRs, < 10 ppbv). In contrast, sea-ice-sourced bromine, via sea salt aerosol (SSA) production from blowing snow, can produce ODEs even without bromine from sea spray, highlighting the importance of sea ice surface in polar boundary layer chemistry. Modelled total inorganic bromine (BrY) over the Arctic sea ice is sensitive to model configuration; e.g. under the same bromine loading, BrY in the Arctic spring boundary layer in the p-TOMCAT control run (i.e. with all bromine emissions) can be 2 times that in the UKCA control run. Despite the model differences, both model control runs can successfully reproduce large bromine explosion events (BEEs) and ODEs in polar spring. Model-integrated tropospheric-column BrO generally matches GOME-2 tropospheric columns within ∼ 50 % in UKCA and a factor of 2 in p-TOMCAT. The success of the models in reproducing both ODEs and BEEs in the Arctic indicates that the relevant parameterizations implemented in the models work reasonably well, which supports the proposed mechanism of SSA production and bromide release on sea ice. Given that sea ice is a large source of SSA and halogens, changes in sea ice type and extent in a warming climate will influence Arctic boundary layer chemistry, including the oxidation of atmospheric elemental mercury. Note that this work dose not necessary rule out other possibilities that may act as a source of reactive bromine from the sea ice zone.last_img read more

Brown, Queen combine for 34 points in New Mexico State’s win over UVU

first_img Associated Press Written by Tags: New Mexico State Aggies/Terrell Brown/Trevelin Queen/UVU Wolverines Basketball/WAC FacebookTwitterLinkedInEmailTerrell Brown and Trevelin Queen scored 17 points each to lead New Mexico State to a 70-56 win over Utah Valley on Thursday night, the Aggies’ seventh straight victory.Johnny McCants added 13 points and eight rebounds for the Aggies.New Mexico State led 40-38 five minutes into the second half before taking control with a 17-3 run for a 57-41 lead with 10:36 to play.Isaiah White had 16 points and 11 rebounds for the Wolverines. Casdon Jardine added 10 points. January 16, 2020 /Sports News – Local Brown, Queen combine for 34 points in New Mexico State’s win over UVUlast_img read more

Whitegates Dewsbury grows portfolio by 30%

first_imgHome » News » Agencies & People » Whitegates Dewsbury grows portfolio by 30% previous nextAgencies & PeopleWhitegates Dewsbury grows portfolio by 30%The Negotiator29th August 20190357 Views The owner of the Dewsbury office of Whitegates marked his first year by increasing its managed portfolio by 30 per cent. Camran Ishaq purchased Whitegates Dewsbury in a resale in February 2018, taking on 280 managed properties.Camran completed a goodwill purchase of independent agency Wilman & Son in June, transferring 87 properties into Whitegates Dewsbury’s managed portfolio.He said, “This acquisition provides us with a firm foothold in the lettings market within our area. “We are the only lettings agent managing everything in-house, from reporting repair issues to sending out contractors and this acquisition enables us to add further investors and landlords to our books.”Camran added, “Whitegates Dewsbury has a fantastic reputation built over 25 years and the Whitegates brand always stood out to me.”Kate Toland, Managing Director of Xperience and Whitegates at The Property Franchise Group, said: “Camran has only been with Whitegates for just over a year but has already made a huge impact on the branch.”Camran Ishaq Wilman & Son Kate Toland Whitegates August 29, 2019The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more

Industry reaction – evictions to restart after current ban ends on 23rd August

first_imgHome » News » COVID-19 news » Industry reaction – evictions to restart after current ban ends on 23rd August previous nextCOVID-19 newsIndustry reaction – evictions to restart after current ban ends on 23rd AugustAnnouncement to begin hearings to progress evictions is made in the House of Lords by housing Minister of State, Lord Greenhalgh.Nigel Lewis2nd July 202002,671 Views The government has confirmed that the ongoing evictions ban is not to be extended past August 23rd and that possession hearings are to re-start the day after.This will be a significant relief to thousands of landlords and letting agents, who had feared that campaigning groups such as Shelter and Generation Rent might persuade Ministers to extend the ban again to avoid a predicted ‘cliff-edge’ of evictions.Instead Lord Greenhalgh has confirmed that the government has no plans to extend the stay on possession hearings past August 23rd.Although welcomed by housing campaigners, the ban has placed nearly 6,000 landlords in limbo after pre-Covid possession hearings and court orders were frozen when the ban was announced in late March.“This is an important step towards ending the lockdown and will protect landlords’ important right to regain their property,” says Greenhalgh.“Work is underway with the judiciary, legal representatives and the advice sector on arrangements, including new rules, to ensure that judges have all the information necessary to make just decisions and that the most vulnerable tenants can get the help they need when possession cases resume.”Many landlords have been furious that, despite their tenants having been close to being evicted for non-payment of rent, they were instead given ‘carte blanche’ to stay in their properties gratis.On top of these pre-Covid evictions, it is estimated that thousands more evictions have been started via Section 21 or Section 8 notices during lockdown, but have not been able to proceed because the courts have been closed for possession hearings.Industry reactionDavid Cox, ARLA Propertymark“We’re very pleased to hear that from 24 August courts will be re-opening and can begin to process the backlog of possession cases.“We have previously expressed our concern to the Secretary of State for Justice that there could be as many as 62,000 ‘business as usual’ landlord possession claims to be processed across England and Wales so having clarity on when these can be handled is extremely encouraging for landlords and the sector.”Ben Beadle, National Residential Landlords Association“The Minister’s comments provide greater certainty for the rental market,” he says.“It is vital however that swift action can be taken against those tenants committing anti-social behaviour or domestic violence.“We are calling also for priority to be given to cases where possession orders were granted prior to lockdown or where rent arrears have nothing to do with the COVID pandemic.” July 2, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

Property business duo face FCA prosecution over mortgage fraud

first_imgHome » Crime » Property business duo face FCA prosecution over mortgage fraud previous nextRegulation & LawProperty business duo face FCA prosecution over mortgage fraudAn investigation by the FCA found that Larry Barreto and Tassib Hussein had helped clients apply for a mortgage via bogus paperwork.Nigel Lewis23rd April 20210353 Views Two Nottingham businessmen with links to the property industry are to be prosecuted by the Financial Conduct Authority (FCA) over a multi-million pound mortgage fraud scheme the pair operated for three years.The duo are 65-year-old Larry Barreto, who ran an eponymous financial services firm based in the city, and accountant Tassib Hussein, 41, who ran Keystone Chartered Accountants.The criminal prosecution relates to an offence of conspiracy to commit fraud by false representation involving both defendants and two further offences by Larry Barreto of carrying on regulated activities without authorisation.An investigation by the FCA found that the pair completed the frauds between 2015 and 2018 involving mortgages to the value of £3.8 million. Barreto is being prosecuted for running an unauthorised financial services business.Home loansMortgage clients of Barreto’s who failed lenders’ affordability tests were offered a paid-for service that allowed them to overcome these problems and secure home loans.This mortgage miracle was achieved by Hussein, who was paid by Barreto to forge financial documents including false self-employment and PAYE slips and other employment documentation for Barreto’s clients.Barreto and Hussain appeared at Westminster Magistrates’ Court and the case was sent to Southwark Crown Court for a Plea and Trial Preparation Hearing on 19 May 2021.Fraud is punishable by a fine and/or up to 10 years’ imprisonment. Unauthorised business is punishable by a fine and/or up to 2 years’ imprisonment, the FCA says.Read more about mortgage fraud.Larry Barreto Tassib Hussein Keystone Chartered Accountants mortgage fraud FCA April 23, 2021Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more


first_imgA funeral service was offered Oct. 10 for Sean Levi Emmanuel Lemus, 16, of Union City. He passed away Oct. 4. Born in North Bergen to Gloria Lemus, Sean was a model student at Union City High School. He was an officer of the D.E.C.A business club as well as serving as a teacher of young children at the Elim Pentecostal Church in Union City. Survivors include his mother Gloria and his brother Bryan and his wife Tiffany.Services arranged by the Leber Funeral Home, 2000 Kennedy Blvd., Union City.last_img read more

Ocean City Police Activity Report for Oct. 18 to 24

first_imgOCEAN CITY POLICE SUMMARIZED WEEK’S ACTIVITIES October 21, 2015: WednesdayCalls for service: 80Motor Vehicle Stops: 28Motor Vehicle Accidents: 0Property Checks: 25Alarms: 1The Police Department assisted with 4 fire and 3 EMS callsWarrant, 1300 block Boardwalk, one in custody, at 10:52amWarrant, 800 block West Ave., one in custody, at 12:06pmCDS, 600 block West Ave., one in custody, at 11:26pm October 22, 2015: ThursdayCalls for service: 46Motor Vehicle Stops: 8Motor Vehicle Accidents: 0Property Checks: 17Alarms: 3The Police Department assisted with 2 fire and 5 EMS callsWarrant, 100 block Simpson Ave., one in custody, at 4:48pmFraud, Edinburgh Rd., at 5:25pmTheft, 1200 block West Ave., at 6:45pm October 18, 2015: Sunday                                                Calls for service: 77Motor Vehicle Stops: 22Motor Vehicle Accidents: 2Property Checks: 28Alarms: 1The Police Department assisted with 4 Fire and 5 EMS callsTheft, 1200 block West Ave., at 2:25amMotor vehicle accident, 9th St. & Ocean Ave., at 2:25amMotor vehicle accident, 7th St. & Ocean Ave., at 12:36pm October 20, 2015: TuesdayCalls for service: 67Motor Vehicle Stops: 25Motor Vehicle Accidents: 0Property Checks: 15Alarms: 4The Police Department assisted with 4 fire and 4 EMS callsTheft, 1300 Boardwalk, at 12:39pmDomestic violence, 100 block E. Atlantic Blvd., at 1:44pm October 18 – 24, 2015Calls for Service: 496Daily Average: 71center_img October 24, 2015: Saturday Calls for service: 77Motor Vehicle Stops: 30Motor Vehicle Accidents: 1Property Checks: 17Alarms: 1The Police Department assisted with 4 fire and 4 EMS callsMotor vehicle accident, 20th St. & Bay Ave., at 11:54amTheft, 800 block Asbury Ave., at 4:33pmTheft, 2200 block Bay Ave., at 11:33pm PUBLIC SERVICE ANNOUNCEMENTS:Just a reminder that it is a violation of a City Ordinance to have dogs on the boardwalk anytime during the year.City Ordinance 87-17sec.4-32 prohibits any Boat/Trailer over 22 feet in overall length from being parked on a city street.       Any boat/trailer less than 22 feet in overall length can only remain on a city street for three consecutive days. Officers will be issuing summons and towing boats/trailers for any observed violations. Ocean City Police Department October 23, 2015: FridayCalls for service: 80Motor Vehicle Stops: 27Motor Vehicle Accidents: 1Property Checks: 22Alarms: 2The Police Department assisted with 4 fire and 4 EMS callsMotor vehicle accident, 600 block Haven Ave., at 10:01amWarrant, 2200 block Bay Ave., one in custody, at 6:11pm October 19, 2015: Monday Calls for service: 68Motor Vehicle Stops: 9Motor Vehicle Accidents: 0Property Checks: 23Alarms: 3The Police Department assisted with 5 Fire and 6 EMS callsTheft, 700 block 8th St., at 8:30amFraud, 1000 block Bayfront, at 9:18amWarrant, 800 block Central Ave., at 1:45pmlast_img read more

Winter Skate Jam II for “Waves of Caring” Attracts 50 Competitors and Many Toys

first_imgOn December 2rd the Ocean City Skatepark hosted the 2nd Annual Winter Skate Jam to benefit the “Waves of Caring” program. The early morning chill did not deter the spectators and skateboarders as about 50 competitors showed up bearing gifts in a true holiday spirit.“Waves of Caring” is an Ocean City charity that collects gifts to help make the holidays special for struggling local families who need assistance. Ocean City’s Fire Chief and Waves of Caring chairman, Jim Smith stopped by the event and spoke to the skateboarders about the charity. Smith thanked the competitors and expressed the good that the skateboarders were doing for their community.The contest went down in sunny, 50 degree temperatures with music blasting and skateboarders of all ages showing off their skills. The contest had multiple divisions with the competitors going for prizes donated by 7th Street Surf Shops, Heritages Surf Shops, Surfer’s Supplies, Havoc Skate, Downbeach Skate, Peace of Wood, Jetty Clothing, Bowfish Kids, Ocean City NJ Surf School, Reds Jersey Mex, and Ocean City Paddle Company.  Big thanks to the City of Ocean City and the Ocean City Recreation Department for allowing the event to take place. Entry fee for the competition was a children’s Christmas present with all the gifts being donated to the “Waves of Caring “charity.Results:Girls (12+ Under):Zoe HerishenSophie WhelanCove ChewMicro-Groms (10+ Under): Nate BaronsTy CollinsCullen WhelanGroms (11-12):Chaz MorenoPaul WoodringDominic MorrillBoys (13-15):Jake DinanMark GravesAnthony MabryMen (16+ up): Adam CorboChristian CottoRyan Walshlast_img read more

News story: Government launches new policy to deal with radioactive waste

first_img RWM recognises that this nationally important project needs to contribute positively to the community within which it is located. Working with communities will be at the very centre of its approach to the delivery of the GDF. Site Evaluation consultation – Details about how sites will be assessed Bruce McKirdy, Managing Director of RWM, said: Our highly experienced team has been preparing for this vital project to provide a long-term solution for the management of higher activity radioactive waste. We will now embark upon an engagement programme to help individuals, businesses and communities understand how they can get involved. Although the UK has made significant progress in dealing with the radioactive waste left over from decades of nuclear activities, today’s announcement is a vital step towards finally cleaning-up our nuclear legacy. David Peattie, Chief Executive of the Nuclear Decommissioning Authority, said: Community Guidance – How we will work with communities Following today’s written ministerial statement by Richard Harrington and the publication of Implementing Geological Disposal – Working with Communities by the Department for Business, Energy and Industrial Strategy, Radioactive Waste Management (RWM), a subsidiary of the Nuclear Decommissioning Authority, will now begin the search for a willing host community and a suitable site to construct a Geological Disposal Facility (GDF). Geological disposal is one of the UK’s largest ever environmental protection projects, which will provide a safe and secure long-term solution for the disposal of higher activity radioactive waste.Malcolm Morley, Chairman of RWM’s Board of Directors, stated: In support of the Government’s policy announcement, RWM simultaneously published information for communities including: In addition, we have also launched a consultation on how we will evaluate sites in England: National Geological Screening for a GDF – This provides a high level summary of the geological information which is relevant to the safety of a GDF A community meetingAnyone interested in learning more about geological disposal and what it could mean for their community should visit our website or contact RWM via [email protected] Introduction to Geological Disposallast_img read more