Latest news with #real estate
Yahoo
6 hours ago
- Business
- Yahoo
Alexandria Secures Lease at Its Megacampus in San Diego
Alexandria Real Estate Equities, Inc. ARE secured the largest life science lease in its 31 years of history by signing a 16-year lease agreement with a longtime multi-national pharmaceutical tenant. The lease for this build-to-suit research hub spans over 466,598 rentable square feet (RSF) of space located at Campus Point by Alexandria Megacampus in the University Town Center submarket of San Diego. This lease highlights the demand for Alexandria's premier location for life science innovation in San Diego. The construction of this development project, aimed at achieving 100% electrification along with LEED Gold Core & Shell and Fitwel certifications, is set to begin in 2026, with an expected completion in 2028. This high-performance laboratory facility emphasizes energy efficiency and minimizes water consumption, alongside focusing on the health and wellness of its occupants. Its distinctive design incorporates natural light, optimizes shared spaces to encourage connectivity and includes a spacious terrace that functions as a central gathering area, seamlessly integrating indoor and outdoor spaces. In 1994, Alexandria took the lead in life science real estate with its founding and first acquisition in San Diego. Since the acquisition of its first Campus Point property in 2010, the company has been carefully aggregating, designing, entitling, developing and transforming assets to create an irreplicable Megacampus ecosystem featuring a solid and diverse tenant base, which drives high-quality long-term cash flows. As of June 30, 2025, Campus Point comprises 1.3 million RSF in operation and is 98.8% occupied. With nearly 1.3 million RSF of additional future development and redevelopment opportunities, this Megacampus could potentially expand to about 2.6 million RSF, reflecting 420% growth in its scale from the initial acquisition. The campus is well-positioned to provide tenants with crucial expansion space and an enhanced amenity experience, which aids in recruiting and retaining mission-critical talent to foster next-generation innovations. Alexandria is the preeminent, longest-tenured and pioneering owner, operator and developer of collaborative Megacampus ecosystems in AAA life science innovation cluster locations, including Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle and New York City. Alexandria caters to a diversified tenant base comprising high-quality companies ranging from multinational pharmaceutical companies, public and private biotechnology companies, manufacturers of complex medicines and top-tier investment-grade companies and institutions as well as technology entities. However, with a substantial concentration of companies belonging to the life science and technology industries, Alexandria's performance remains susceptible to any changes within these industries. The company's substantial active development and redevelopment pipeline, although encouraging for long-term growth, exposes it to the risk of rising construction costs and lease-up concerns amid macroeconomic uncertainty. In the past three months, shares of this Zacks Rank #5 (Sell) company have gained 2% compared with the industry's rise of 5.3%. Image Source: Zacks Investment Research Some better-ranked stocks from the broader REIT sector include SBA Communications SBAC and American Tower AMT, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The Zacks Consensus Estimate for SBAC's 2025 FFO per share has moved 3 cents northward to $12.74 over the past two months. The Zacks Consensus Estimate for AMT's 2025 FFO per share has moved 2 cents northward to $10.55 over the past week. Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report American Tower Corporation (AMT) : Free Stock Analysis Report SBA Communications Corporation (SBAC) : Free Stock Analysis Report Alexandria Real Estate Equities, Inc. (ARE) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
17 hours ago
- Business
- Globe and Mail
Canadian home sales rise 2.8% in June
Canadian home sales rose 2.8 per cent June from May and were up 3.5 per cent on an annual basis, data from the Canadian Real Estate Association showed on Tuesday. The industry group's Home Price Index edged down 0.2 per cent on the month and was down 3.7 per cent annually, while the national average selling price was down 1.3 per cent on the year.
South China Morning Post
20 hours ago
- Business
- South China Morning Post
China's dated urban-development model must change, Beijing says at rare meeting
At a surprising meeting of China's political elite, it was declared that a sea change is needed in the nation's urban development – shifting from a phase of large-scale, incremental expansion to one focused on optimising and enhancing existing resources. Advertisement The message, coming amid a persistent real estate slump and slowing urbanisation , was delivered at the two-day Central Urban Work Conference that ended on Tuesday. In 2015, Beijing held its first such conference in decades, and it kicked off a campaign to boost homebuying and shore up investment. This time around, Beijing has been pursuing a new growth framework for the beleaguered property sector. Leadership has also vowed that migrant workers will receive more urban citizenship benefits. With 67 per cent of its 1.4 billion people now living in urban areas, China needs to 'proactively adapt to changing circumstances' and transform its approach to city planning, officials said at the conference. After decades of rapid urbanisation, China's city growth has now entered 'a phase of stable development' where more focus should be put on human well-being, efficiency and governance, according to an official readout of the meeting. It was attended by President Xi Jinping and the other six members of the Politburo Standing Committee – the central leadership's highest decision-making body. 01:58 China GDP figures beat market forecasts despite looming US tariff risks China GDP figures beat market forecasts despite looming US tariff risks Officials vowed to intensify efforts to create a 'new model' for China's property development, and renovations of urban villages and repairs to dilapidated housing are among the focal points.
Yahoo
a day ago
- Business
- Yahoo
MinLaw acts against firms over billion-dollar money laundering case; Singapore cracks down on drug-laced vapes: Singapore live news
The Ministry of Law (MinLaw) has announced enforcement action against four law firms and a lawyer following an investigation into the "law practices that were involved in the conveyancing of the real estate properties" in the $3 billion money laundering scandal which rocked Singapore. Singapore is cracking down on criminal operations selling drug-laced vapes known as Kpods which is becoming an increasing problem across Asia. This includes weekly enforcement operations by the Health Sciences Authority (HSA) as well as public healthcare institutions doing their part to record all suspected and confirmed etomidate-linked vaping cases. Read more in our live blog below, including the latest local and international news and updates: The Ministry of Law (MinLaw) has taken enforcement action against four law firms and a lawyer for providing legal services for the purchase of properties in a $3-billion money laundering scandal which made headlines in 2023. MinLaw, in a press release on 15 July, said it is supporting the Director of Legal Services (DLS) in "conducting inquiries into the law practices that were involved in the conveyancing of the real estate properties seized in an anti-money laundering operation in August 2023." DLS has conducted investigations into 24 law practices – with 11 of these investigations concluded. Here's a summary of the enforcement actions revealed: Two law practices have been ordered to pay financial penalties of $30,000 and $100,000 respectively. The DLS has issued a third law practice with a statutory notice of the intention to order that law practice to pay a financial penalty of $70,000. A final decision will be made upon receiving and considering the law practice's written representations, if any. The DLS has privately reprimanded a fourth law practice. A lawyer has been referred to the Law Society of Singapore for disciplinary action. The DLS will not take further regulatory action against 7 other lwpractices. The press note did not state the names of the law practices involved. Singapore has stepped up efforts to cripple criminal operations selling drug-laced vapes known as Kpods, which typically contain etomidate or ketamine. In one dramatic bust in Bishan Street 13, an officer from the Health Sciences Authority (HSA) dived into a car to stop an alleged dealer from speeding away. Once the man was detained, officers searched his car and found several white envelopes containing Kpods. The envelopes with the Kpods were marked for delivery. In total, 28 vape devices and 814 vape pods were seized from the man's car. It is just one example of multiple HSA operations that happen in a week targeting the booming illegal trade in e-vaporisers. The United Nations Office on Drugs and Crime warned in a recent report that organised crime groups were pushing drug-laced vapes in Asia – including Singapore. The Straits Times also reported that public healthcare institutions have been told to record all suspected and confirmed etomidate-linked vaping cases. Files containing Beyoncé's unreleased music was stolen from a car rented by the singer's choreographer and one of her dancers in Atlanta last week, according to police. Two laptops and hard drives that contained watermarked music, unreleased music, footage plans and past and future set lists, were among the items listed in the police incident report. The choreographer told officers that "he was also carrying some personal sensitive information for the musician Beyonce." The Atlanta Police Department, in an online statement, said that a warrant had been issued for an unnamed suspect's arrest. The next Toto draw on 17 July will feature an estimated jackpot size of $10 million, according to Singapore Pools. On Monday (14 July), the Toto draw ended without a Group 1 winner which means the $5,792,345 prize snowball into Thursday's draw. The winning numbers for Monday's draw were 2, 8, 19, 29, 38, 41, with 20 as the additional number. More on Toto, here. Both Singapore Airlines (SIA) and Scoot have checked the fuel switches of their Boeing 787 aircrafts, reports CNA. 'As a precautionary measure, SIA and Scoot have carried out and completed checks on the fuel switches of the Boeing 787 aircraft in our fleet," read an SIA statement published by CNA on 15 July. A preliminary report on last month's Air India tragedy – which killed 260 people – concluded fuel to the engines of the Boeing 787 Dreamliner in the deadly crash was cut off moments after take-off. US aviation regulator, the Federal Aviation Administration (FAA) has said fuel control switches in Boeing aeroplanes are safe. Two major commercial pilots' associations have rejected claims that human error caused the Air India crash. The High Court has published its grounds of decision for dismissing Jeremiah Ng's appeal against his seven-year jail sentence for killing one person and injuring six others in a violent crash along Tampines Avenue 1 in December 2021. The 36-year-old had gone out with this brother and two friends that night (23 December) and consumed four cans of beer before driving back from dinner. Ng reportedly hit speeds as high as 169kmh in his brother's red Mercedes-Benz during the journey. He lost control of the vehicle as he approached the junction of Tampines Avenue 1 and Tampines Avenue 10, smashing into a centre divider and crashing into traffic. "It is plainly foolish and hazardous to drive in this manner on any occasion. Our public roads are not a racetrack," said the High Court in its dismissal of Ng's appeal. A private-hire car driver was killed in the crash. Six others were injured – including a motorcyclist who was left with long-term disabilities. Ng was sentenced in October 2023 after pleading guilty to one count of drink driving and another for causing death by driving in a dangerous manner. One person was taken to hospital after a fire at Block 194 Kim Keat Avenue in Toa Payoh on 14 July. The Singapore Civil Defence Force (SCDF) said, in a Facebook post, that it responded to the fire at about 11.50am. "Upon arrival, one of the bedrooms in a 12th-floor unit was on fire. Firefighters entered the smoke-filled unit and extinguished the fire with a water jet," read a statement. SCDF assessed two people for smoke inhalation with one being taken to the KK Women's and Children's Hospital. The other person declined to be taken to hospital. Pictures from the incident showed the unit as well as the corridor area outside sustained heat and smoke damage. Preliminary findings indicate the cause of the fire is likely from an electrical origin in a bedroom. You can read tips from the SCDF on how to prevent such fires, here. South Korean actress Kang Seo-ha has tragically died at the age of 31 following a battle with cancer. The sad news was shared by a close acquaintance of Kang who wrote on social media: "I hope you're happy and pain-free up there. I miss you so much.' Kang, in the tribute post, was also described as someone who remained kind despite enduring immense pain. "Even while relying on painkillers, she kept saying she was grateful things weren't worse. I felt ashamed hearing that," the post said. "She suffered so much. I hope she finds only happiness now." Kang starred in a number of TV dramas during her career including 'Through the Waves' and 'Flowers of the Prison.' Her final project – 'In the Net' – is expected to be released posthumously. A race at the World Aquatics Championships was postponed just hours before it was due to start after water quality levels in Sentosa failed to meet "acceptable thresholds", it was announced by organisers. The women's open water 10km race at Sentosa was scheduled for 8am this morning (15 July) but has been pushed until tomorrow (16 July) "in the utmost interest of athlete safety." "While testing in recent days has consistently shown water quality at the venue to meet World Aquatics' acceptable thresholds, analysis of samples taken on 13 July surpassed these thresholds," read a statement from World Aquatics. "The decision to postpone racing was made in the best interests of athlete health and safety, which remains World Aquatics and the Singapore 2025 Organising Committee's top priority." It is unclear why tests on the water samples on 13 July exceeded quality thresholds
Bloomberg
a day ago
- Business
- Bloomberg
Singapore Private Home Sales Fall to Six-Month Low Before Curbs
Singapore's new private home sales declined to the lowest level in six months in June, just before authorities introduced new measures to tame prices. Developers sold 272 units last month, data from the Urban Redevelopment Authority showed on Tuesday. That's lower than the 312 homes sold in May, but higher than the sales reported in June 2024.
