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Rogers & Co Ltd (ROGE.mu) Q12016 Interim Report

first_imgRogers & Co Ltd (ROGE.mu) listed on the Stock Exchange of Mauritius under the Industrial holding sector has released it’s 2016 interim results for the first quarter.For more information about Rogers & Co Ltd (ROGE.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Rogers & Co Ltd (ROGE.mu) company page on AfricanFinancials.Document: Rogers & Co Ltd (ROGE.mu)  2016 interim results for the first quarter.Company ProfileRogers & Co Limited is an international and investment services company  headquartered in Mauritius, that primarily focuses on operations in four markets which are, financial tech, hospitality, logistics and property where the company provides services such as fiduciary, outsourcing, and consulting services, such as tax advisory, captive insurance management, fund administration, and actuarial services, technology services, including integrated business solutions, cloud computing, unified communications and collaboration, and mobile and converged connectivity services and financial services. Rogers & Co Limited operates through the following segments, aviation, financial services, hospitality, logistics, property, real estate and agribusiness, technology, corporate office, and corporate treasury. Rogers & Co limited is listed on the Stock Exchange of Mauritius.last_img read more

Vivo Energy Mauritius Limited (SHEL.mu) 2018 Abridged Report

first_imgVivo Energy Mauritius Limited (SHEL.mu) listed on the Stock Exchange of Mauritius under the Energy sector has released it’s 2018 abridged results.For more information about Vivo Energy Mauritius Limited (SHEL.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Vivo Energy Mauritius Limited (SHEL.mu) company page on AfricanFinancials.Document: Vivo Energy Mauritius Limited (SHEL.mu)  2018 abridged results.Company ProfileVivo Energy Mauritius Limited is a subsidiary of Vivo Energy Mauritius Holdings B.V. and offers liquefied petroleum gas in various cylinder sizes and bulk for domestic, commercial and industrial applications, supplies transport and industrial fuels, lubricants and greases to business-to-business customers. In addition, the company provides a range of lubricants for the automotive, marine, and industrial applications as well as markets aviation jet fuel, provides marine fuel oil, marine gasoil, and shell lubricants. Vivo Energy Mauritius Limited is listed on the Stock Exchange of Mauritius.last_img read more

Lions 2013: Calls for comeback kings

first_img Bounding back: Paul O’Connell played a real captain’s knock against Harlequins in the Heineken Cup quartersBy Alan DymockLAZARUS HAD never seen the Rocky movies, but if he had it is impossible to imagine him losing the Bethany heavyweight title.Confusing myth with reality – badly? Well, you would be forgiven for doing so just weeks before the Lions squad is selected. The word “comeback” is firmly on everyone’s lips.Getting back on his feet: Johnny SextonThis weekend the ‘Man Who Would Be Ten’ Jonathan Sexton is pencilled in to make a comeback for Leinster. He has much to prove with the one-week bandwagon for Jonny Wilkinson and Ian Madigan currently getting a hot pink touch-up and fitted with turbo boosters, but this may be a return watched more closely than most.The interesting thing is that if he does return it comes against Munster’s own bounceback beau ideal, Paul O’Connell. The lock turned in a true captain’s performance in the quarter-final of the Heineken Cup against Harlequins, roaring his young and not-so-young charges into a stirring second-half performance that saw the province into the last four. He had previously hinted that it takes a mere handful of games to get back to form and onlookers scoffed. When the twilight starts to draw in on a player’s career there is a sense that their graying body will struggle to cope. However, he was true to his word, elevating his performance on a grand stage while Quins and Chris Robshaw were the ones looking like they had been up for three days straight.It poses an interesting question about the dependence on known quantities and the elixir of form. Some players – and this includes a very small band of success-conditioned professionals – only need a few weeks of build-up or even a short time in tour camp to prepare themselves to perform in Test rugby. O’Connell and Sexton seem to be more driven than the M25 and arguments could be made to include the pair come Lions time because of their ability to will themselves forward. With others, though, it becomes harder to justify leaving out form players.Bloodied, unbowed: a hard-working Nathan Hines Discussions of captain are by the by and with O’Connell there is no guarantee that he would start should he tour, but with discussions about the like of Nathan Hines’s performances for Clermont Auvergne and potential second-row experience for what will undoubtedly become an arduous tour at some point, the Irishman offers a soothing balm. He, and perhaps even Brian O’Driscoll were Warren Gatland and his team inclined to take the centre, would be a calming influence that could silently enforce and hold up the ideals of any younger captain. CLERMONT-FERRAND, FRANCE – APRIL 06: Nathan Hines of Clermont Auvergne looks on during the Heineken Cup quarter final match between Clermont Auvergne and Montpellier at Stade Marcel Michelin on April 6, 2013 in Clermont-Ferrand, France. (Photo by David Rogers/Getty Images) History teaches you much about what makes a successful tour. When you ignore the flapping panic and bumping gums that invariably create the din before a squad announcement, Gatland will be aware that he needs a sense of team togetherness that the 2001 and 2005 tours did not have. He needs a drive and a sheer bloody-mindedness within his squad that can push players to surpass even what they have done for club and country. He needs to pick with balance, complementing talent and squad harmony in equal measure. That means picking players that, to a man, could play Test rugby, but also players that, were they not, could still boost and influence those that do.So much talk is about exciting bolters, but when you are off for a month-plus, perhaps the comeback specialists are best placed to be in your corner with you. LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALSlast_img read more

Florida to Quest Diagnostics after latest ‘data dump’: You’re fired

first_img TAGSCOVID-19Data DumpsGovernor Ron DeSantisQuest DiagnosticsTestingThe Center Square Previous articleFlorida gas prices hold steady after Hurricane LauraNext articleFlorida’s Space Coast ranks high in bid for $1B U.S. Space Command headquarters Denise Connell RELATED ARTICLESMORE FROM AUTHOR Save my name, email, and website in this browser for the next time I comment. Share on Facebook Tweet on Twitter Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 Please enter your name here By John Haughey | The Center Square LEAVE A REPLY Cancel replycenter_img Support conservation and fish with NEW Florida specialty license plate The Anatomy of Fear Quest Diagnostics, one the nation’s largest diagnostic corporations with 20 industrial labs it said can process 200,000 coronavirus tests a day, has been fired by Florida.New Jersey-based Quest, which has processed nearly 1 million of the 6.3 million diagnostic coronavirus tests completed in Florida since March, no longer will be contracted by the state after it returned 75,000 test results dating to April to the Florida Department of Health (DOH) in a Tuesday “data dump,” Gov. Ron DeSantis said.Citing a new rule, DeSantis said with Tuesday’s data dump, Quest Diagnostics – already under fire in Florida and other states – effectively is precluded from conducting business with the state.DeSantis, who has been critical of the “testing industrial complex,” said private labs are making so much money from processing coronavirus tests they feel dismissive of clients’ needs, and, he said, Florida won’t stand for it.“There’s a lot of these companies making huge, huge amounts of money,” DeSantis said Tuesday. “Go back a year, they would have never thought they could have made this much money. The problem is, when you’re sloppy with it, it ends up impacting people’s lives.”Quest Diagnostics had run afoul of Florida officials over “data dumps” in July and in late March, when it sent 4,000 patient test results in one batch, causing an artificial 25 percent spike in daily coronavirus reporting.After an August data dump by Niznik Lab Corp, which DeSantis brushed off as a new lab trying to meet demand, he ordered DOH to post guidelines with consequences for labs that release results in data dumps that skewer data.Quest Diagnostics’ data dump met the “death penalty” benchmark, allowing the state to sever contracts with it.The governor’s office was told Monday evening that Quest’s 75,000 test results would be entered into DOH’s COVID-19 dashboard Tuesday morning.According to the governor’s office, the positivity rate for 3,773 new cases Tuesday was 5.9 percent. With Quest’s 75,000 test results added, the day’s count shows 7,643 new cases and a 6.8 percent positivity rate.“I’ve been preaching, be wary of some of these test results because it’s about when the lab puts it in, they don’t do all the negatives,” DeSantis said. “But this is the most egregious dump we’ve had.”Ignore Tuesday’s DOH COVID-19 report, he said, noting the state ideally will replace Quest with a smaller, more nimble Florida-based operation.“We’ve had more success with some of the more upstart labs in terms of their turnaround times, so I think that there’s a lot of options there,” DeSantis said.Montana also fired Quest, which had handled all its coronavirus testing, last month because of slow returns. Colorado Gov. Jared Polis told NBC’s “Meet the Press” Sunday his state also is considering alternatives to Quest, noting it can take up to nine days to get test results back.“Almost useless from an epidemiological or even diagnostic perspective,” Polis said.California Gov. Gavin Newsom said last week slow test turnaround times were unacceptable, but few private diagnostic lab operators offer the capacity Quest does.“It’s rather preposterous that you get a test and 13, 14 days later you get the results,” Newsom said, adding results in those cases are “utterly meaningless” but “we’re not going to abandon Quest. We need them as one of our partners.”DeSantis said Tuesday late returns are one of many issues in coronavirus diagnostic “snap-shot” testing.“This whole testing regime” is “problematic, to say the least,” he said. “I’m not saying you don’t consider it, but you have to consider it knowing the limitations.” Please enter your comment! You have entered an incorrect email address! Please enter your email address herelast_img read more

Fábio Coentrão House / António Fernandez Architects

first_imgCopyAbout this officeAntónio Fernandez ArchitectsOfficeFollowProductsSteelConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesPovoa de VarzimFábio Coentrão HouseHousesPortugalPublished on May 08, 2014Cite: “Fábio Coentrão House / António Fernandez Architects” 08 May 2014. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Read commentsBrowse the CatalogMetal PanelsAurubisCopper Alloy: Nordic BrassCompositesMitrexPhotovoltaic Solar Cladding – BIPV CladdingPanels / Prefabricated AssembliesTechnowoodPanel Façade SystemArmchairsUniForArmchair – ParigiLouvers / ShuttersBruagShading Screens – Perforated Facade PanelsAluminium CompositesSculptformAluminium Façade BladesCultural / PatrimonialIsland Exterior FabricatorsSeptember 11th Memorial Museum Envelope SystemWire MeshJakobWebnet in a Gymnasium in GurmelsDoorsLinvisibileLinvisibile Pocket Door | MareaPaintKEIMMineral Paint for Concrete – KEIM Concretal®-WLouversReynaers AluminiumSolar ShadingHandlesFormaniFitting Collection – ARCMore products »Read commentsSave世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream “COPY” Houses ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/503466/coentrao-house-antonio-fernandez-architects Clipboard Year:  2013 Save this picture!© Jose Campos+ 40 Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/503466/coentrao-house-antonio-fernandez-architects Clipboard photographs:  Jose CamposPhotographs:  Jose CamposClient:Fábio CoentrãoText:Ema RosmaninhoDesign Team:António Fernandez, Ema RosmaninhoCity:Povoa de VarzimCountry:PortugalMore SpecsLess SpecsSave this picture!© Jose CamposText description provided by the architects. As a project, the Fábio Coentrão House presented a unique challenge since its intention was to respond effectively to a demanding programme of a very personal nature for the building as a whole and individually for each space. The house is part of a subdivision still under development. The back of the lot faces a forested plot of land, and the house, integrated within an urban space with a strongly rural character, had every chance to serve as a different model. Different, individualized, unique, just as the owners wanted it to be.Save this picture!Floor PlanThe project initially sprang from the wish to obtain the lot in the least usual manner, albeit conforming to all legally stipulated requirements. The subdivision permitted the ground floor to have great depth. In this way, it was possible to design a house in which the spaces are interconnected and open onto interior courtyards at the centre of the polygon-shaped lot. Thus, open spaces were created within the enclosed space, expanding living areas, expanding spaces. The divisions make the most of the exterior space. And the exterior space as ‘the container’s interior’ possesses a dual ‘outside-inside’ living space’. Concepts intervene, hybrid spaces are created, capable of supporting an architecture that aims to be very personalized. The upper floor was much more constrained, limited by the regulations imposed on the lot to a rigidly drawn rectangular polygon. The project succeeded in subverting this constraint.Save this picture!© Jose CamposThe idea of a house gutted by courtyards that sculpt the volumes and open new facades recreating spaces within spaces set the tone for the development of the project. The programme demanded even more and the concept gained momentum.Save this picture!SectionTo ordinary passers-by on the street, the house invariably draws attention to itself through its strong presence: the black form vertically cut by mirrored polygons and the enclosing wall covered by black sheet metal polygons. For those who access the lot, the house reveals its glass frames, courtyards and transparencies; the black facade contrasts with the green grass and blue water of the pool onto which the living room opens.For anyone gaining access to the dwelling, the architectural interplay begins immediately by crossing the metal bridge with wooden slats and glass guards over the patio that illuminates the basement floor. The mirrored glass door lies hidden in the facade. The metal profiles thatrecreatetree branches on the side facade enliven the black coating. Vegetation proliferates at the back of the lot. For those entering the house, the interplay of spaces and different sensations begins.Save this picture!© Jose CamposA black staircase with floating steps and glass guard/wall stands out against the white walls and cabinets. The space is simple with a clear reading. The kitchen, containing custom furniture designed by the architectural firm, is extended by the courtyard that separates it from the living room. The living room, in turn, lives for the courtyard and extends to the wooden slats that mark the transition to the pooland the green grass of the back garden.On this floor, a second courtyard within the container, designed with graphics that provide privacy for the interior spaces, brings together the spaces that connect to the bedrooms, baths and office.Upstairs, the predominance of white in the private bath exudes light. The corridor leading to the suite is lined with closets and a set of mirrors that amplify it, creating yet another ecstasy of illusions.Save this picture!Floor PlanThe bedroom is versatile, permitting different vanishing points, opening up onto the lot’s front with polygonal beams and towards the bedrooms’ courtyard through a large glass plane. The basement contains a cinema and games room facing the courtyard below that communicates visually with the dwelling’s entrance.Save this picture!© Jose CamposIn the outdoor areas, namely the courtyards and gardens, design simplicity was chosen for the paving materials, decking, granite slabs and cobbles, conferring a very minimalist reading to the spaces.Save this picture!© Jose CamposIn this way, each space speaks for itself, is individuated. All are important, but one space does not attempt to superimpose itself on another. The house unfurls and thrives as a whole. All the spaces are different, all the spaces coexist and interact with one another. They are all necessary, but at the same time each one stands on its own, with a unique design. The dwelling thus possesses a distinctly strong character, where the enjoyment of the space, the visual play between compartments and pure delight of the house’s living areas dominate. For the exterior, the house is black, cut by mirrors, and seems closed. And it’s true! It encloses within itself a rather diversified set of small spaces, each one with a strong identity, all of them small containers of life.Save this picture!© Jose CamposProject gallerySee allShow lessStealth Cabin / Superkül incSelected Projects2014 RIBA London AwardsArchitecture News Share Architects: António Fernandez Architects Area Area of this architecture project Fábio Coentrão House / António Fernandez ArchitectsSave this projectSaveFábio Coentrão House / António Fernandez Architects Photographs ArchDaily Portugal Year:  CopyHouses•Povoa de Varzim, Portugal Fábio Coentrão House / António Fernandez Architects Projects 2013 Area:  490 m² Area:  490 m² Year Completion year of this architecture project “COPY”last_img read more

A meeting with Fidel

first_imgMuch has been said and written about Comandante Fidel’s contributions to liberation struggles in Latin America, the Caribbean and all over the world. His personal contributions and his attributes are rarely highlighted enough. It was Fidel’s revolutionary qualities that made his leadership take such a gigantic step forward on behalf of peoples’ liberation and revolutionary socialism, not only in Cuba but also internationally.Fidel left such a tremendous legacy, so many lessons, teaching through personal example how to be a true and consistent revolutionary socialist!I met Fidel in 1993 during a medical-aid delegation to the island. Former U.S. Attorney General Ramsey Clark, writer Alice Walker and American Indian Movement founder Dennis Banks led the 10-person delegation, which also included several medical doctors.It was a time of an optic neuropathy epidemic that affected thousands of Cubans and was exacerbated by the U.S. criminal blockade on Cuba, which imposed great difficulties in obtaining materials from abroad. The crisis, however, was resolved like so many difficulties in Cuba through the creative spirit of the Revolution inspired by Fidel — not to accept a defeat, but to transform it into victory.That is how the setback after the July 26, 1953, attack on the Moncada — when many revolutionaries were killed by Batista’s forces and Fidel was imprisoned — later became a victorious revolution.The delegation met Fidel late at night for three hours at the Palacio de la Revolución. His great ability to converse with people was impressive. He made us feel at ease and got us to talk about valuable and relevant issues, while deepening our own understanding and ability to reflect on them.This wasn’t just a nice personal feature. It illustrated vividly his thoroughly dialectical approach to life, what we as Marxist revolutionaries must constantly be vigilant about and pursue, particularly when we live in a society marked by metaphysical thought — the premise that basically things don’t change and that there is no interrelation with other developments.Casual conversation was not part of Fidel’s vocabulary. For him, every person he met was a source of new information, of new experiences. Talking with Fidel was like unraveling a mystery. He always had a question, wanted to learn more, learn about the reasons, the basis of an affirmation. I had never met anyone like him.Through his conversation with Dennis Banks we learned about the struggle to preserve the language and history of the Native peoples in the U.S. With Alice Walker the topic was Africa’s lack of adequate development due to colonialism and her research for her book on girls’ genital mutilation. With me, knowing that I am Boricua, the conversation was about the annihilation of our Taíno Indigenous people by Spanish colonialism and the current status of Puerto Rico under U.S. domination.Fidel is now more alive than ever. He has become the bond uniting people all over the world. It is no accident that the quality usually studied first about Fidel is the concept of unity.Viva Fidel! Long live the international socialist struggle!Joubert-Ceci is editor of Mundo Obrero.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

Tibetan journalists in Dharamsala (Portfolio)

first_img Follow the news on India IndiaAsia – Pacific Help by sharing this information News News January 14, 2010 – Updated on January 20, 2016 Tibetan journalists in Dharamsala (Portfolio) India: RSF denounces “systemic repression” of Manipur’s media News to go further Organisation RSF_en center_img Indian journalist wrongly accused of “wantonly” inaccurate reporting RSF demands release of detained Indian journalist Siddique Kappan, hospitalised with Covid-19 April 27, 2021 Find out more Receive email alerts News March 3, 2021 Find out more No independent news or information can be reported by the print media, broadcast media or new media in Chinese-controlled Tibet. But outside the country, especially in India, where hundreds of thousands of Tibetans have found refuge, independent news media produce and disseminate alternative news.For more informations : http://www.rsf.org/The-Voice-of-the-Voiceless-for.html IndiaAsia – Pacific February 23, 2021 Find out morelast_img read more

From the Cooking Camp to Bouchon Beverly Hills then to the French Laundry???

first_img Aric second from rightAric in 2012Imagine being 6 years old going to the World famous French Laundry in Napa Valley and writing on the guest book, “One day, I will work here”…. That 6 year old was South Pasadena resident Aric Attebery.Then in 2007, young Aric enrolled in The Summer Art Academy’s Cooking Camp to begin to make his 6 year old vision a reality.It was here at the Cooking Camp that Aric met Executive Chef and owner of the Cooking Camp Chris Allen. “I knew immediately that Aric had a special passion for Culinary Arts and joked with him to be sure to mention me when he was on the Oprah show when he became a world famous Chef,” commented Chef Allen.Attebery stated, “At Cooking Camp Chef Chris encouraged my interest and drive in the industry. I was young at the time, but I discovered that cooking was really fun. Learning the basics really encouraged me to get involved in the industry.”Aric Focused on Plating“To this day the one thing that always stuck in my mind about Aric’s Culinary talent was he carved a strawberry into a Dragons head” lamented Chef Allen.After his Cooking Camp experience, Attebery got his first restaurant job in 2007 at the Abbey in West Hollywood. “My first night of work, they put me right on the line. It was an amazing feeling to feel the rush of being a Chef doing a line service,’ recounted Attebery.After the Abbey, Attebery moved on to 750 ml in South Pasadena, where he was trained in the Art of Charcuterie (Sausage and Pates) and refining his meat fabrication and classic French knife skills until he could make his next jump.That next jump came on his 17th birthday when his family went to Thomas Keller’s Bouchon Beverly Hills.We went to dinner at Bouchon on my 17th birthday about 5 months after it opened. I got a kitchen tour and it was absolutely amazing…and of course my mom brought and gave my resume to the Chef. About a week later they called me to do a stage (tryout)…but, they did not realize that I was only 17,” recalled Attebery.His first job as a volunteer at Bouchon was “picking” Fine herbs (Chervil-Parsley-Chives and Tarragon) that means removing one leaf at a time and filling a half gallon tub of â€œpicked” leafs.Attebery recounted the first time meeting Chef Keller, ”I was very nervous, he came in the kitchen and he came by and tapped me on the shoulder and said good job.”Now, after starting at Bouchon as a volunteer on Saturdays, summer came and Aric got a paid position at the restaurant.In 2012 he was promoted to Chef de Partie of Garde Manger and Hot Appetizers at Bouchon all while attending Cal Poly Pomona studying Hotel Restaurant Management and a Junior in just his second year of College.Aric is now eyeing two opportunities in Napa Valley for summer 2013 either working at Ad Hoc or keeping the promise to his 6 year old self and going to work for Thomas Keller at the French Laundry, and a long way from this intuitive comment from his Mom after attending the Cookiing Camp, in 2007“My son , Aric, was in the afternoon Baking class and loved it! He is 13 years old and this is the most excited he has been about anything in a long time. He said the chefs were wonderful and were very helpful in answering his questions. He asked to attend this program because he thinks he may want to pursue culinary school in the future. He was concerned that this might be more “playtime” than actual instruction but was thrilled when he experienced the professionalism at the school. It’s great to see him passionate and focused. Thank you for a great start to his summer…and possibly a career!”PJ Attebery First Heatwave Expected Next Week Community News faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,PCC – EducationVirtual Schools PasadenaDarrell Done EducationHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Your email address will not be published. Required fields are marked * Make a comment Business News Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. More Cool Stuff Top of the News Subscribecenter_img Community News 4 recommended0 commentsShareShareTweetSharePin it Education From the Cooking Camp to Bouchon Beverly Hills then to the French Laundry??? By FEILDING MELISH Published on Tuesday, May 7, 2013 | 12:52 pm Name (required)  Mail (required) (not be published)  Website  Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Herbeauty9 Of The Best Family Friendly Dog BreedsHerbeautyHerbeautyHerbeauty10 Reasons Why Selena Gomez Has Billions Of FansHerbeautyHerbeautyHerbeautyStop Eating Read Meat (Before It’s Too Late)HerbeautyHerbeautyHerbeautyWeird Types Of Massage Not Everyone Dares To TryHerbeautyHerbeautyHerbeautyInstall These Measures To Keep Your Household Safe From Covid19HerbeautyHerbeautyHerbeautyThese Are 15 Great Style Tips From Asian WomenHerbeautyHerbeauty Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenalast_img read more

Arbor Lodging Partners Acquires 12-Hotel, 1,313-Room National Portfolio

first_imgCommercial Real Estate News Arbor Lodging Partners Acquires 12-Hotel, 1,313-Room National Portfolio STAFF REPORT Published on Monday, February 3, 2020 | 4:49 pm Make a comment Top Row: L-R Hilton Garden Inn Pasadena/Arcadia, Springhill Suites Pasadena/Arcadia, Hampton Inn Irvine/Lake Forest, Hilton Garden Inn Irvine/Lake Forest. Middle Row: L-R Hilton Garden Inn Bakersfield, Hilton Garden Inn Folsom, Hilton Garden Inn Roseville, Courtyard Inn Hartford/Farmington. Bottom Row: L-R Residence Inn Hartford/Rocky Hill, Homewood Suites Wallingford, Homewood Suites Somerset, Residence Inn Mount Olive.Arbor Lodging Partners, a Chicago-based hotel investment and management company, has acquired a 12-hotel portfolio, which includes the Hilton Garden Inn Pasadena/Arcadia and Springhill Suites Pasadena/Arcadia.Both hotels are located in Arcadia but largely serve the Pasadena area.The acquisition also includes Hampton Inn Irvine/Lake Forest, Hilton Garden Inn Irvine/Lake Forest, Hilton Garden Inn Bakersfield, Hilton Garden Inn Folsom, Hilton Garden Inn Roseville, Courtyard Inn Hartford/Farmington, Residence Inn Hartford/Rocky Hill, Homewood Suites Wallingford, Homewood Suites Somerset and Residence Inn Mount Olive hotels.The acquisitions are a joint venture with GFH Financial Group B.S.C.An Arbor Lodging Partners statement said with the acquisitions, its portfolio now expands to 37 full-service and select-service hotels consisting of nearly 5,000 rooms across 21 markets in 15 states, further establishing the company’s position as a leading national player in the hospitality industry.Going forward, the hotels will be managed by Arbor Lodging Partners’ affiliate, Arbor Lodging Management.“We are thrilled to have added 12 diverse and unique properties with industry-leading franchise affiliations to our portfolio in several key markets,” Vamsi Bonthala, CEO of Arbor Lodging Partners, said. “Consistent with our strategic investment plans, we are pleased to invest in high-performing hotel markets, while concurrently continuing our own growth as an influential hotel investment and management firm.”Arbor Lodging Partners will begin renovations at each property, to include modern updates to all guestrooms, guest bathrooms, lobbies and common areas, as well as meeting spaces and food and beverage outlets.“Each hotel is well-situated in its own community and has a long history of guest satisfaction,” Sheenal Patel, Arbor Lodging Management CEO, said. “We are excited to welcome many new associates to the Arbor Lodging family and will work closely with each property team to continue to drive success by improving operations where necessary and creating memorable and engaging experiences for guests.”Through affiliates, Arbor Lodging’s portfolio consists of a range of hotels under brands such as Curio Collection by Hilton, Marriott Hotels and Resorts, Courtyard by Marriott, Hilton Garden Inn, Residence Inn, Homewood Suites, and more.For more information, visit www.arborlodging.com. Subscribe Community News Your email address will not be published. Required fields are marked * First Heatwave Expected Next Week Top of the News More Cool Stuff Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy center_img Name (required)  Mail (required) (not be published)  Website  HerbeautyThese Are 15 Great Style Tips From Asian WomenHerbeautyHerbeautyHerbeauty5 Things To Avoid If You Want To Have Whiter TeethHerbeautyHerbeautyHerbeauty6 Strong Female TV Characters Who Deserve To Have A SpinoffHerbeautyHerbeautyHerbeautyZac Efron Is Dating A New Hottie?HerbeautyHerbeautyHerbeautyWant To Seriously Cut On Sugar? You Need To Know A Few TricksHerbeautyHerbeautyHerbeauty9 Of The Best Family Friendly Dog BreedsHerbeautyHerbeauty Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Business News Community News 2 recommendedShareShareTweetSharePin it faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenalast_img read more

The Sky’s the Limit With SFR

first_img Share Save Subscribe Bill Tessar Brian Flaherty Civic Financial Services COVID-19 Damon Riehl Danny Kattan Global Strategic Jay Tenenbaum Jeff Pintar Jeff Tennyson Jeffrey Tesch Kori Covrigaru Lima One Capital Mike Tamulevich Pintar Investment Company PlanOmatic Property Loan Exchange LLC RCN Capital Scottsdale Real Estate Investments Sell2Rent 2021-05-05 Eric C. Peck Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Phil Britt started covering mortgages and other financial services matters for a suburban Chicago newspaper in the mid-1980s before joining Savings Institutions magazine in 1992. When the publication moved its offices to Washington, D.C., in 1993, he started his own editorial services room and continued to cover mortgages, other financial services subjects, and technology for a variety of websites and publications. The Sky’s the Limit With SFR Servicers Navigate the Post-Pandemic World 2 days ago Previous: What is Motivating Distressed-Property Investors? Next: Despite Pandemic, Fewer Homeowners Missing Payments Demand Propels Home Prices Upward 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / The Sky’s the Limit With SFRcenter_img 24 days ago 842 Views Single-family home rentals remained a strong market for investors during the last year with good prospects ahead, despite the challenges for owners of other rental properties as a result of the COVID-19 pandemic moratoria.“The single-family home rental market is absolutely on fire,” said Jeff Pintar, CEO, Pintar Investment Company, echoing the sentiments of other market experts. “In all aspects of it, it’s continued to get stronger and stronger and has continued to evolve. The operational efficiencies of this business are actually far better than multifamily or other asset classes.”“Most of our customers are adding to their portfolios right now,” added Bill Tessar, President, Civic Financial Services.The current trend continues the recent strength of the single-family home rental market, experts agree.“Leading into the pandemic, the single-family rental market was booming based on volume, the appetite for it on Wall Street, and the price the secondary market was willing to pay,” Tessar noted.That’s not to say that the pandemic didn’t cause some challenges—at least briefly.“In March of 2020, we were growing quickly, hiring, and growing our platform significantly,” said Damon Riehl, CEO, Property Loan Exchange LLC. “In late March, essentially all our sources of product, the lenders that we partner with, halted their lending activities for a period of 60-90 days, with some even longer than that. It created an environment where we had clients with the demand, but we didn’t have product for them available. Then things started to improve in the fall.”Now, not only has the lending market returned to full speed ahead, in many ways the products’ pricing is superior to where it was pre-COVID-19.“I would say loan sizes and LTVs are almost exactly where they were,” Riehl added. “Rates are better than where they were pre-COVID-19, and more and more correspondent lenders have emerged as well.”Though Lima One Capital was hit hard at the start of the pandemic as loan volume came to a halt, what’s bounced back the strongest are the loans for rental properties, according to Jeff Tennyson, the company’s President and CEO.“Since the late ‘60s, 35% of the $25 trillion housing stock in America was consistently rental. The rental market has always had a very strong base,” Tennyson said. “COVID-19 has sent a message to real estate investors that a rental product is going to continue in good times and bad, in COVID-19 or with no COVID-19. People want to rent properties and participate those transactions.“The other thing that’s really driven the surge is that people are really starting to recognize they can work remotely,” Tennyson added.“If I’m working remotely, why do I need to be cooped up in a one-bedroom or studio apartment in an urban center? There are so many other places I could live and rent for better pricing and have much more room and a much better quality of life. That’s driving the demand for rental product all over the United States.”Moratoria ConcernsThough government-mandated moratoria have given struggling renters and homeowners the legal right not to make payments, there’s been very little impact on the single-family home rental market, stakeholders suggest.As long as landlords took care of properties and had a good relationship with tenants, most continued to pay their rents, according to Tessar. “When COVID-19 hit most of our competition, as much as 75% stopped lending and some of those never came back to the market. Many of those who did limped back.”“We’ve experienced less than a 2% delinquency rate for 2020 on our portfolio,” Pintar said. “People do whatever they can to protect their housing. By and large, people do the right thing. If they can pay their bills, they’re going to pay them.”Others that DS News spoke with agreed that delinquencies have been extremely low during the pandemic, anecdotally noting that few of their renters had taken advantage of the moratoria if they didn’t need to.Several single-family rental stakeholders interviewed agreed that government stimulus checks likely helped many renters avoid sliding into delinquency.Inventory shortages have remained one of the primary inhibiting factors impacting both the broader housing market and SFR in particular.Jeffrey Tesch, CEO, RCN Capital, told DS News, “There was already a shortage of single-family homes pre-pandemic, and then home listings declined substantially last year because of COVID-19 adding to the problem.Couple that with low mortgage rates, and competition for properties is at an all-time high throughout most of the country.” As a result, investors are caught up in the same bidding wars challenging other homebuyers.It’s more important than ever for investors to conduct their due diligence and remain “savvy,” Tesch suggests, “not getting caught up in the frenzy of the market, and [making sure that] the deal makes sense, so they can get a return on their investment.”Brian Flaherty, COO, Global Strategic, ticked off some of the ways that COVID-19’s impact continues to be a factor within the SFR industry, “With decreased rental revenues due to the moratorium, coupled with decreased inventory and high demand, the need to service clients and tenants while managing vendors and costs is more demanding than ever.” Flaherty said that he expects those pain points to shift over the coming months, with a lack of inventory possible being buoyed by an influx once foreclosure moratoria lift. “Then there will be the issues of how to manage an influx of inventory, and placing underemployed, unemployed, or foreclosed-upon tenants into rental units.”Pintar added that the economy is stronger than many people realize. As such, there are usually people ready to rent a single-family property even if the current tenant is forced to leave.Despite the challenges of COVID-19, none of Lima One’s rental loans went into delinquency, Tennyson said.Low Rates Continue to Help Drive Market StrengthThe interest rates for single-family investors as of April were lower than they were prior to the COVID-19 outbreak, according to Tessar, who credits Wall Street firms continuing to chase yield. Civic has business-purpose loans for the single-family rental with a sub-6% interest rate.Tessar expects interest rates to be up next year, so single-family rental investors will likely receive their best returns on investment before that happens.If rates were to go up 2%, it would create a “market event,” Riehl said, but market experts don’t expect that type of a jolt. Instead, most seem to expect moderate rate increases. When that happens, Riehl says that rent prices will increase to follow suit.The Federal Reserve is focused on keeping rates low for at least the next several months, which will accelerate market demand, said Jay Tenenbaum, Co-Founder and President of Capital Development at Scottsdale Real Estate Investments. “The only thing that changes this is if interest rates decided to go up, because the Fed says [interest rate easing] is over,” Tenenbaum said. In and of themselves, rising interest rates won’t signal a softness in the single-family rental market.However, if rates rise and there’s a large jump in defaults and foreclosures, the single-family home rental market will suffer.The low interest rates represent only one factor contributing to the continued strength of the SFR market. People and their jobs are more mobile than ever before, so a growing number of consumers don’t want to be tied down to a multiyear mortgage and the hassle of selling a property if they choose to move. Consumers are looking for more space for not only their families, but for home offices, remote schooling, etc. Multifamily properties can’t always meet these needs. So, returns for the single-family home rental market remain strong.Pintar and Tennyson also observed that homeownership isn’t the sign of success and stability that it once was. Many younger people are preferring to rent rather than tying up their money in a down payment in order to own a home.Kori Covrigaru, CEO, PlanOmatic, observed that “Most tech-savvy millennials and Gen Z audiences start their property searches online, and this has changed the way in which single-family rental properties are marketed today.” Covrigaru noted that digital tools such as 3D virtual tours and interactive floorplans hold strong appeal for younger buyers and renters, since they allow a consumer to visualize a home without having to step foot inside of it. “In many cases, the use of digital tools result in more property interest and faster leasing activity.”“Millennials in particular are having a significant impact on the market,” Tesch said. “You have younger millennials that are at or approaching the time when they are looking to be first-time homebuyers, and you have older millennials that seem to be in the market to buy-up or upgrade from their current home to accommodate growing families or move to a location to better suit their needs.”Danny Kattan, Founder and CEO of Sell2Rent, added that some seniors are also looking to sell and then rent back their single-family homes rather than using reverse mortgages because the latter option often involves fees and restrictions that the former option doesn’t.The sell-and-rent option can also work for people who want to have more available cash but can’t qualify for conventional cash-out refinancing, Kattan added.Another advantage of these properties over 1-4 family and multifamily units is that renters tend to stay longer, a trend that is increasing.“One of the largest things that that we’ve noticed is that the propensity for a tenant to renew their lease has significantly gone up,” said Mike Tamulevich, President, National Brokerage, Marketplace Homes. “Typically, we would average in the 60% range for the tenants that are going to renew. Now, we’re in the mid-to-high 70s, with another 10% going month to month.”In addition to the increase in renewals, rents are appreciating a little more than 4% annually, and the value of the properties themselves continues to grow. The gains are due to a combination of low interest rates and limited housing availability.“It’s an extremely strong market with plenty of applicants for a property once it comes back on comes back on the market,” Tamulevich said.In some areas, the values of home rental properties have been increasing by 10% annually, according to Riehl. However, he expects the appreciation in those markets to start to level off.“Rents are increasing at a higher a higher pace than we’ve ever seen,” Pintar added. “On average, we’re getting about a percent per year. The demand for quality rental housing is continuing to get stronger and stronger.”Migratory ImpactsPeople are continuing to move out of California and New York for areas where they can have lower taxes and lower cost of living, Tessar said. Those moves have been made easier by many companies opting to limit how many people need to be “in the office,” even as companies reopen. Additionally, some major firms have also moved out of those states—with employees often following—in search of lower tax costs.Homes in states with lower costs are often selling above list price, according to Tessar.“As soon as people move out, other people are moving in.”However, not all of the movement is to the South. Many investors are finding good value in areas of Pennsylvania, Tessar said.“There’s still a tremendous amount of dinged-up real estate that was taken back by the banks in the financial crisis.” Some of those single-family properties are in disrepair to the point that they don’t qualify for traditional financing, but companies like Civic, which specializes in the business loan purpose (BPL) arena, can provide interim financing for an investor to purchase the property, bring it up to code, and then resell it or then be able to qualify for conventional financing to live in it or rent it out.Regardless of the region, quality schools have been the top determining factor as to the community where younger families will rent, Tessar said. However, this could be changing somewhat as more private school options emerge, meaning a family isn’t as tied to a certain public school district.“A lot of people are starting to rent within the area that they want to live, but then picking up an investment property more on the outskirts where, where they might be able to get a decent yield,” Tamulevich said.“We saw the mass exodus of people from cities to the suburbs during the height of the pandemic, which caused a greater need for rentals,” Tesch noted. “We are seeing many young families looking to move out to the suburbs, but they are struggling because of lack of inventory and higher home prices, so affordability has become a concern. We’re also seeing other demographics starting to join the mix of folks that are driving rental demand. It’s pretty common now to see younger baby boomers, people in their late 50s, early 60s, looking to downsize and sell their homes at the height of the market, so renting is very attractive for that group as well.”Tesch listed Texas markets such as Dallas-Fort Worth and San Antonio as strong SFR areas, as well as parts of the Midwest such as Milwaukee, Cleveland, Indianapolis, Indiana, and Columbus, Ohio. Pittsburgh, Pennsylvania, and Evansville, Indiana, are two other good markets, according to Tenenbaum, who added that the middle-market, B- and C-class properties tend to offer the best value for single-family home investors.Pintar pointed to Austin (as did many others); Charlotte, North Carolina; Salt Lake City; several communities throughout Florida; Las Vegas; Phoenix; and, surprisingly, Bozeman, Montana, as dynamic communities that are also popular markets for SFR. Indianapolis, Indiana, has also proven to be a strong single-family home rental market.Regardless of the municipality, the Class A properties tend to be too expensive to earn a decent return, Tenenbaum explained. While some investors will look at price first and purchase Class D properties, that can be a mistake, as these properties tend to have unreliable tenants, are often vacant and, can require costly repairs.Property DifferencesRenters are typically looking for single-family rentals offering at least three bedrooms and 1.5 bathrooms, according to Pintar. However, some on the lower end of the market will consider two-bedroom, one-bathroom homes.Tamulevich said the appetite for two-bedroom homes for investors and renters alike has largely evaporated. As a result of the pandemic and people working from home and having to manage remote schooling, renters are increasingly looking for moderately priced, 2,000-square-foot homes offering four bedrooms and two or more bathrooms.One type of property that investors are largely steering clear of are condominiums. The initial investment, homeowner’s association fees, and other costs make it difficult to maintain positive cash flow on this type of rental property.Some investors are looking for properties they will rent out for only a short time, selling the property when the value appreciates sufficiently. Others look to build large portfolios of rental properties for ongoing cashflow. To do that, an investor needs large sums of capital, Riehl said.“If they have a significant capital base to do the number of projects they want, then they can decide on a property-by-property basis to hold it, to lock in cash flows with the low, fixed-rate mortgage, and not only re-capture the capital that they put into it, to use on the next deal, but also put $300 to $500 a month plus all the interest benefits and all the depreciation benefits of a rental.”Property Management ConcernsGood property managers are one of the major keys to success in the single-family home rental market, Tenenbaum said.His top advice for those looking to get started or expand in the single-family rental market: “Make sure your property management team is the cornerstone of your investing career. People who are local can do both (invest in the properties and manage them), but I invest all over the country. The local property management team can be the key to your success or the key to your downfall.”Property managers are the pulse of the investor’s portfolio, Tenenbaum explained.“They’re a wealth of information. They know the contractors, they know the values, they have better referrals to real estate agents than you can find yourself, unless they’re local to the area.”Good property managers will find responsible tenants. Poor ones will have more unrented properties, will have collection issues, etc., according to Tenenbaum.One way an investor can distinguish good property managers from poor ones is via their level of responsiveness, Tenenbaum said.“The sense of dedication and commitment to managing our assets goes hand-in-hand with communication. When I ask a question, I get a timely response. The response is complete. I know that they’re dedicated and efficient what they’re doing. “We’ve had the good, the bad, and the ugly with our properties’ managers.”With a responsive property manager, the investor stays informed about why properties are unoccupied, Tenenbaum added. He gives much of the credit for the excellent performance of his single-family rental portfolio in Evansville, Indiana, to his property manager there.Looking AheadThe single-family home rental market will remain strong for the foreseeable future, according to Tessar. “Next year, we’ll have a better idea of what’s going to be in this new tax bill. Everyone on the real estate side wants to understand what impact it’s going to have on capital gains and 1031 exchanges.”The next 12 months will also provide more clarity on how much of the work-from-home trend will remain, Tessar added.“The asset class is going to continue to evolve,” Pintar predicted. “You’re going to see a lot more communities being developed specifically for rent. There’s, there’s a lot of core capital that’s looking for safe, predictable returns. Outside of food and water, housing is people’s greatest essential need. Being able to deliver and provide a nice-quality product for people is always going to be in demand.”“What COVID-19 taught us all is that our work can be done remotely,” Flaherty observed. “Taking that reality and constructing an office plan and overhead reduction plan needs to be paramount for 2021 and beyond. Controlling costs with flexible work environments is bringing home office monitoring software and outsource solutions to the forefront. Also, having now been burned by an unforeseen pandemic, a focus on disaster planning, technology, and redundancy contingency planning needs to be factored into the bandwidth and budget of every company in any vertical, but particularly the SFR space, which will definitely feel the crunch of another tide shift soon.”Tennyson said that nonagency rental lending is a $40 billion market, providing a large opportunity for lenders like Lima One to provide loans “to improve the family neighborhoods so that others can live the American Dream.”Pintar added: “We can’t get these things built fast enough. Institutional investors that initially shied away from this product type are learning that the efficiencies of this asset class are better than any others. On a risk-adjusted basis, you’d be hard pressed to find a better opportunity than SFR.”On Wednesday, May 12, the Five Star Institute will present its Single-Family Rental Summit 2021, an in-person event at the Four Seasons Resort and Club Dallas at Las Colinas. The event will feature top subject matter experts and skilled SFR practitioners, leading discussion panels and training sessions answering questions and offering viable solutions related to property acquisition and management, financing, strategies for small, midcap, and large investors, and new developments related to technology and professional services.Click here for more information and to register for SFRS 2021. in Daily Dose, Featured, Journal, Magazine, News Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Phil Britt Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Tagged with: Bill Tessar Brian Flaherty Civic Financial Services COVID-19 Damon Riehl Danny Kattan Global Strategic Jay Tenenbaum Jeff Pintar Jeff Tennyson Jeffrey Tesch Kori Covrigaru Lima One Capital Mike Tamulevich Pintar Investment Company PlanOmatic Property Loan Exchange LLC RCN Capital Scottsdale Real Estate Investments Sell2Rentlast_img read more