OEGlobal envisions a world where everyone, everywhere has access to the high-quality education and training they desire; where education is seen as an essential, shared, and collaborative social good.

The Open Education Awards for Excellence 2024

OE Awards is facilitated by OE Global

Open Education Global (OEGlobal) is thrilled to celebrate the prestigious 2024 Open Education Awards for Excellence winners.

— Melody Chin, Singapore Management University, the OEAward24 Catalyst winner

This year, the OEAwards process received and reviewed nominations for more than 120 people and projects from 29 countries. The 30-member review committee (comprising previous award winners) and the OEGlobal Board of Directors reviewed the nominations to yield the shortlist of finalists and this collection of 25 Award Winners for 2024.

Alan Levine, OE Global Director of Community, says, "I am deeply impressed with how the OEAwards continue to spotlight the people and projects of open education. The process demonstrates the continuing innovation in and commitment to open education ideals globally. I hope it is as obvious to you that the Awards are less of a competition and more of an act of recognition in our field."

On September 18, 2024, in an exciting live show featuring previous OEAward recipients, Open Education Global (OEGlobal) announced the 2024 Open Education Awards for Excellence (OEAwards 2024) award winners.

Individuals and organizations have demonstrated exceptional commitment to advancing open education practices and resources.

Open Education is only possible due to the work and passion of extraordinary people. The 2024 Open Education Awards for Excellence recognizes these People of Open with Individual Awards:
* The Lifetime Achievement Award goes to Martin Weller at Open University, United Kingdom. * The President’s Award goes to Lisa Young at Maricopa Community Colleges, United States. * The Catalyst Award goes to Melody Chin at Singapore Management University, Singapore. * The Catalyst Award goes to Kimberlee Carter at Conestoga College, Canada. * The Leadership Award goes to Colin de la Higuera at Nantes Université, France. * The Leadership Award goes to Laura Czerniewicz at the University of Cape Town, South Africa. * The Open Educator Award goes to Maria Luisa Zorrilla at Universidad Autonoma del Estado de Morelos, Mexico. * The Student Award goes to Carleigh Charlton at Brock University, Canada.

Open assets are what open education initiatives produce and use: tangible goods (usually digital) with educational purpose and value. Open assets are created, curated, and distributed in ways that make them freely accessible, usable, and improvable by others. The 2024 Open Assets Awards Winners are: * The Open Curation / Repository Award goes to 101 Creative Ideas to Use AI in Education: A Crowdsourced Collection, which includes contributions from members of the University of Leeds, University of Calgary, University of Macedonia, University of Suffolk, and University of the Arts London in the United Kingdom, Canada, and Greece. * The Open Infrastructure award goes to the Open Music Academy, published and maintained by Hochschule für Musik und Theater München, Germany. * The Open Reuse / Remix / Adaption Award goes to The Remixer Machine, created by Visual Thinkery in the United Kingdom. * The Significant Impact OER Award goes to Frontiers for Young Minds, created by Frontiers for Young Minds in Switzerland. * An additional Significant Impact OER Award goes to Confident Supervisors: Creating Independent Researchers from multiple contributors based in Australia, New Zealand, the United States, Europe, and Papua New Guinea.

Open Practices are the collective behaviors and techniques that open up access to educational opportunities. The 2024 Open Practices Award Winners are: * The Open Collaboration Award goes to everyone involved in creating the book “Higher Education for Good,” produced by 118 people worldwide, including 79 authors and artists, 36 peer-reviewers, and three editors. * The Open Collaboration Award goes to the CAUL Open Educational Resources Collective facilitated by the Council of Australian University Librarians (CAUL), Australia. * The Open Pedagogy Award goes to the WikiChallenge Ecoles d’Afrique (WikiChallenge African Schools), an annual contest in primary schools across 10 francophone African countries created and managed by Wiki In Africa in collaboration with Fondation Orange. * The Open Research Award goes to the Call For Science: Revolutionizing Open Educational Research, facilitated by the Tecnológico de Monterrey, Mexico.

While the core categories of OE Awards (individual, resources & practices) remain the same each year, we always look for ways to reflect new trends and emerging innovations recognized through awards that change with the times. The Award winners in this year's Special Awards category are: * The Diversity, Equity & Inclusion Award goes to Doing the Work: Diversity, Equity, and Inclusion in Open Educational Resources and Equity-minded Open Course Design, facilitated by Open Oregon Educational Resources, United States. * The Diversity, Equity & Inclusion Award goes to Open for Antiracism (OFAR), a five-year project conducted within the California Community College System by CCCOER and the College of the Canyons, United States. * The Enacting SDGs Award goes to the Education in Emergencies (EiE) Package created by the Education Above All Foundation, Qatar. * A new category for 2024 is the Open With Artificial Intelligence Award goes to Open Audio – OER Audiobooks created and published by Brian Barrick at Los Angeles Harbor College, United States. * Another Open With Artificial Intelligence Award recipient is the AI and Open Education for All from the Tecnologico de Monterrey, Mexico. * The Wildcard Award goes to the Fabrication Laboratory – Fab Lab Kä Träre at UNED de Costa Rica, Costa Rica. * A second Wildcard Award goes to the podcast Gettin’ Air With Terry Greene, Trent University and published by VoiceEd Radio, Canada. * A third Wildcard Award goes to Editing Wikipedia as Academic Activism by Lucy Moore at the University of York, United Kingdom.

Congratulations to all the winners!

About the Open Education Awards for Excellence (awards.oeglobal.org) OE Global hosts the Open Education Awards for Excellence each year to recognize distinctive open education sites, technological innovations, notable open courses, and exemplary leaders in Open Education worldwide. The awards have been held annually since 2011, with the 2024 edition marking the 13th anniversary.

Isla Haddow-FloodOE Globalemail us hereVisit us on social media:FacebookXLinkedInInstagramYouTubeOther

OEGlobal Live: Front Row Seats for the Reveal of 2024 OE Award Winners

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Bitget's new Telegram Mini-App page offers a seamless user experience, allowing individuals to explore a wide array of applications while trading on the platform. This initiative offers faster access to innovative apps and streamlined participation in airdrops, providing users with unique opportunities to engage with emerging projects in the blockchain space shortening the search processes.

Telegram boasts nearly 1 billion global users, and the TON ecosystem is rapidly rising, supported by over $425 million in Total Value Locked (TVL) and hundreds of millions of daily active users. Bitget's latest feature integration positions the platform as a vital entry point for those looking to explore the expanding ecosystem, bringing them closer to decentralized applications, bots, and tools that have the potential to reshape how users interact with the Web3 world.

Bitget's Telegram Mini-App hub complements its broader support for the TON ecosystem, which includes priority listings of prominent tokens like DOGS, Hamster Kombat, and Notcoin, a $20 million TON Ecosystem Fund to promote early-stage blockchain projects and the $30 million investment into the TON blockchain. The integration of these apps provides users with seamless access to key developments and play-to-earn opportunities that drive mass adoption of blockchain technologies.

Gracy Chen, CEO of Bitget, expressed enthusiasm about the feature launch: "Our focus has always been on creating a seamless user experience by integrating the best blockchain innovations into our platform. The Telegram App Centre is a significant step towards providing users with access to the most promising apps and airdrop opportunities, facilitating them to fully capture first-hand information within the growing TON ecosystem."

For more information about Bitget's Telegram Mini-App page and to explore over 600 decentralized applications on TON, visit here.

About Bitget

Established in 2018, Bitget is the world's leadingcryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep,Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including being the Official Crypto Partner of the World's Top Professional Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

For more information, visit: Website  |Twitter  |Telegram  |LinkedIn  | Discord |Bitget Wallet

Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice. For more information, see ourTerms of Use.

SOURCE Bitget

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According to Dwight Kay, Managing Member and Founding Partner of Cove Capital Investments, this unique asset was an all-cash acquisition and is considered a high quality addition to the firm's growing portfolio of debt-free Delaware Statutory Trust real estate assets for 1031 exchange and direct cash investors.

"From an investment perspective, this property has some characteristics that we believe will bode well for us over the hold period. For example, the 102-unit building was constructed in 2014 and has a net rentable area of 96,184 square feet. The property also has a diverse mix of dwelling units, including studio, one-, two-, and three-bedroom floorplans, townhomes, and a penthouse. This diverse selection perfectly aligns with the dynamic demographics of the area. The property is located on 2.69 acres of land in the thriving San Antonio, TX MSA, considered one of the fastest growing cities in the U.S. with strong economic anchors in government, military, and healthcare. Finally, the building and 127 parking spaces are located inside a gated perimeter, providing secure grounds for our tenants," said Kay.

Kay explained that Cove Capital immediately inserted its property management team with over 40 years of experience to oversee the day-to-day management of the asset. This property management team physically lives in San Antonio, ensuring a thorough understanding of the market dynamics and providing true boots and eyes on the ground.

"When you acquire a multifamily property, you must recognize that it is a living, breathing asset that needs close attention to daily operations. We feel confident our property management team will waste little time making a significant impact on the property with multiple items for repair and refurbishment underway within less than 1 week of ownership of the asset since closing," said Kay.

In addition to the investment fundamentals of the San Antonio Multifamily 74 DST, several architectural aspects make this property a unique addition to the Cove Capital Investments portfolio.

"For example, this asset was originally constructed as a peanut processing plant and then converted into 'The Peanut Factory Lofts' - a Class-A apartment community in 2014. The unique history of the building, combined with its proximity to San Antonio's trendy Southtown, Historic King William District, Blue Star Arts Complex, and Historic Market Square, gives the building a distinct contemporary-urban aesthetic. The building incorporates some of the original silos, now transformed into modern apartments, along with a highly sought-after three-bedroom penthouse with a balcony and rooftop access, which commands peak rents for the property," explained Chay Lapin, Managing Member and Founding Partner.

Lapin pointed out that this latest Cove Capital acquisition also offers a host of premium amenities, including private garages, a coffee bar, a courtyard, door-to-door trash pick-up, a dog park, a fitness center, and a resort-style pool with cabana.

"Like many commercial and multifamily sellers today, this investor was coming up on a loan maturity date and potentially facing a foreclosure situation. As all-cash buyers, Cove Capital Investments was able to give the seller confidence that we would indeed close on the asset. Our debt-free platform was critical to successfully acquiring the Cove San Antonio Multifamily 74 DST. Our emphasis on debt-free investing continues to be an important differentiator in the 1031 exchange and Delaware Statutory Trust marketplace and an attractive ingredient for our growing number of accredited 1031 exchange investors, Broker-Dealers, Registered Representatives, and RIA's," said Lapin.

About Cove Capital Investments

Cove Capital Investments is a Delaware Statutory Trust sponsor company that operates a portfolio of over 2.4 million square feet of real estate in 33 states nationwide. Over 1,800 investors have trusted Cove Capital with their 1031 exchange and investment dollars, many of them being repeat investors in multiple DST offerings over the years. Our offerings are attractive to those investors seeking to lower risk potential as the majority of Cove Capital's DST offerings are debt free (no mortgage - no lender foreclosure risk).  To sign up for a list of the current Cove Capital offerings available for 1031 exchange and direct investments please visit www.covecapitalinvestments.com.

For further information, please visit www.covecapitalinvestments.com or contact Cove Capital at (877) 899-1315 and via email at [email protected].

*Past performance is no guarantee of future results.

*Diversification does not guarantee profits or protect against losses.

*This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the "Memorandum"). Please read the entire Memorandum paying special attention to the risk section prior to investing. This material contains information that has been obtained from sources believed to be reliable. However, Cove Capital Investments, LLC does not guarantee the accuracy and validity of the information herein. Investors should perform their own investigations before considering any investment. IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax codes therefore you should consult your tax or legal professional for details regarding your situation. This material is not intended as tax or legal advice. There are material risks associated with investing in real estate, Delaware Statutory Trust (DST) properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multi-family properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed. For an investor to qualify for any type of investment, there are both financial requirements and suitability requirements that must match specific objectives, goals and risk tolerances. Securities offered through FNEX Capital, member FINRA, SIPC.

SOURCE Cove Capital Investments

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NYC's Times Square Billboard

UMA: Champion of the Seven Dojo: A Modern Story of Tradition and Victory

Lawrence A. Kane

Kris Wilder

NYC Big Book Award

Authors Kris Wilder and Lawrence Kane Kick "UMA: Champion of the Seven Dojo: A Modern Story of Tradition & Victory" to New Heights with the NYC Big Book Award.

— William C. Dietz, NY Times Bestselling Author

Kane and Wilder are among an exclusive list of worldwide authors awarded by the NYC Big Book Award set to illuminate NYC's Times Square with "UMA: Champion of the Seven Dojo:" this Saturday.

The program, curated by publisher Ted Olczak of the "INDEPENDENT PRESS AWARD and NYC BIG BOOK AWARD" magazine, is a celebration of book excellence that promotes a select group of key book titles.

"UMA: Champion of the Seven Dojo: A Modern Story of Tradition and Victory"
In a world where honor and strength collide, an unlikely hero embarks on a journey of a lifetime... to find the heart of martial arts. A down-on-his-luck young man joins forces with a Japanese journalist. They travel the West of America to see for themselves what martial arts have become, what they have been, and hopefully what they can be. Discover the strength that lies within, joining David, Seiji, and the beautiful Yo. The world and the not-so-hidden enemies from David’s own karate club block the path.

“This book will entertain you, inform you, and even challenge you, all through a martial artist’s eyes.” — Phil Elmore, Bestselling Author, Editor, Journalist, and Voice Actor

“An absolutely captivating and exhilarating read that hooked me from the first page! Don’t miss the chance to immerse yourself in this incredible journey.” — Melissa G. Wilson, 5-Time Bestselling Author

“This is martial arts fiction that’s as good as fact—real, well observed, rewarding and ultimately very satisfying.” — Goran Powell, Eric Hoffer Award-winning author of Chojun: A Novel

“The authors seamlessly fuse genuine martial arts expertise with a spellbinding narrative, leaving me eagerly anticipating each page.” — Jeremy Lesniak, Whistlekick Martial Arts

“A powerful and enthralling story of honor and resilience. It serves as a great reminder that even in the darkest of times, the echoes of valor continue to resonate.” — Nona, Amazon Bestselling Author of the TORC the CAT children’s book series

“A magnificent coming of age story with our protagonist faced with the most realistic and genuinely unlikeable bad guys I’ve ever seen in a fictional work.” — C.R. Jahn, author of FTW Self Defense

NYC Big Book Award received book submissions worldwide. Journalists, well established authors, small and large press, and first time indie authors participated in record numbers. Entries this year were received from the United States as well as countries such as Australia, Canada, China, Cyprus, France, Germany, India, Ireland, Israel, Italy, Mexico, New Zealand, Scotland, Singapore, Sweden, Switzerland, Taiwan, and the United Kingdom. Cities represented among the entries were Asheville, Beijing, Colorado Springs, Dublin, Hong Kong, Los Angeles, Melbourne, New York, Portland, San Francisco, Singapore, Tel Aviv, and Vancouver.

Publishers included Berrett-Koehler Publishers, Beaufort Books, Beyond Words Publishing, BiggerPockets, Blackstone Publishing, Flatiron Books, Forefront Books, Hachette Go, HarperCollins Leadership, McGraw Hill, Old Stone Press, Rowman & Littlefield, Simon & Schuster, Thomas Nelson, Ulysses Press, Watkins Publishing, and Westminster John Knox Press. “We were delighted to see so many quality publishers and authors from around the world participate this year. I can't wait to share these books with a global readership,” said awards sponsor Gabrielle Olczak.

About the best-selling authors

Kris Wilder was inducted into the United States Martial Arts Hall of Fame in 2018. He holds black belt rankings in karate, judo, and taekwondo. The bestselling author of 32 books, he has been interviewed by CNN, FOX, Nickelodeon, The Howard Stern Show, and more.

Lawrence Kane was inducted into SIG Sourcing Supernova Hall of Fame in 2018. He has been studying and teaching martial arts since 1970. The bestselling author of 30 books, he has been interviewed by FOX, Forbes, Fighting Arts, Police Magazine, CPO Strategy, and more.

Ted OlczakNYC Big Book Award+1 973-969-1899email us hereVisit us on social media:FacebookXLinkedInInstagramYouTubeOther

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"This acquisition aligns perfectly with our strategy of targeting undervalued small-bay industrial assets in core locations with strong fundamentals within the Chicago Metro Market," said Principal and Co-Founder Tina Ramos. With this acquisition, Matterhorn Venture Partners continues to expand its presence in key Midwest markets, focusing on unlocking value and increasing long-term returns for its investors. The firm remains committed to growing its portfolio in critical industrial and logistics corridors throughout the United States. 

More InformationWebsite: www.matterhornvp.comLinkedIn: www.linkedin.com/company/matterhorn-venture-partners

Contact InformationTina RamosPrincipal, Co-FounderEmail: [email protected]Phone: 708-204-5247

Scott McKibbenChief Executive Officer, Co-FounderEmail: [email protected]Phone: 312-865-2000

Matt KayPrincipal, Co-FounderEmail: [email protected]Phone: 313-820-3998

SOURCE Matterhorn Venture Partners LLC

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2024 NYC Big Book Award Distinguished Favorite

A 2024 NYC Big Book Award Distinguished Favorite

Author Jennifer Cramer-Miller

2024 NYC Big Book Award Distinguished Favorite

Jennifer Cramer-Miller awarded a distinguished favorite in the Audiobook-Nonfiction category by the NYC BIG BOOK AWARD®!

— DELIA EPHRON, author of Left on Tenth: A Second Chance at Life

The competition is judged by experts from different aspects of the book industry, including publishers, writers, editors, designers, booksellers, librarians and professional copywriters. Winners and distinguished favorites are based on overall excellence.

"Incurable Optimist: Living with Illness and Chronic Hope"
". . .a knockout memoir. . ." —Publishers Weekly, starred review

“. . . energetic, well-observed prose . . . Her account of her journey through illness and healing is unfailingly entertaining . . .A touchingly personal memoir of a young woman facing a grave illness.” —Kirkus Reviews

“Incurable Optimist reminds us of the incredible power of positivity, hope and never giving up. No matter what challenges one faces in life, readers of 'Incurable Optimist' will be moved to find a path forward, no matter the odds, and embrace each and every day.” —Jessie Diggins, Olympic gold medalist and author of Brave Enough

Cramer-Miller calls it "my heart and soul bound into a book. Thanks to an autoimmune kidney disease and four kidney transplants, I've learned that life is an uncertain mix of beauty and bummers.

Here's the main question—how do we let go of the life we've planned and accept the one we have? I hope Incurable Optimist inspires readers to deepen their compassion for themselves and others and marvel at the power of people helping people. We're ALL in this together. And sometimes, it's the sorrows that threaten to pull us apart that ultimately unite us in hope and love."

Book Summary At twenty-two, Jennifer Cramer-Miller was thrilled with her new job, charming boyfriend, and Seattle apartment. Then she received a devastating autoimmune diagnosis—and suddenly, rather than planning for a bright future, she found herself soaking a hospital pillow with tears and grappling with words like “progressive” and “incurable.”

That day, Cramer-Miller unwillingly crossed over from wellness to chronic illness—from thriving to kidney failure. Her chances of survival hinged upon the expertise of doctors, the generosity of strangers, and the benevolence of loved ones. But what kind of life would that be?

Spanning two-plus decades, this family love story explores loss and acceptance, moving forward with uncertainty, and forging a path to joy. Four kidney transplants later, Cramer-Miller is here to shine a bright light on people helping people in difficult times with a story that will make you want to hug the humans you love. Because sometimes it’s the sorrows that threaten to pull us apart that ultimately unite us in hope.

NYC Big Book Award received book submissions worldwide. Journalists, well established authors, small and large press, and first time indie authors participated in record numbers. Entries this year were received from the United States as well as countries such as Australia, Canada, China, Cyprus, France, Germany, India, Ireland, Israel, Italy, Mexico, New Zealand, Scotland, Singapore, Sweden, Switzerland, Taiwan, and the United Kingdom. Cities represented among the entries were Asheville, Beijing, Colorado Springs, Dublin, Hong Kong, Los Angeles, Melbourne, New York, Portland, San Francisco, Singapore, Tel Aviv, and Vancouver.

Publishers included Atmosphere Press, Berrett-Koehler Publishers, Beaufort Books, Beyond Words Publishing, Blackstone Publishing, Familius Publishing, Flatiron Books, Hachette Go, HarperCollins Leadership, Oceanview Publishing, Old Stone Press, Rowman & Littlefield, Simon & Schuster, Ulysses Press, Watkins Publishing, Westminster John Knox Press to name a few. "We were delighted to see so many quality publishers and authors from around the world participate this year. I can't wait to share these books with a global readership," said awards sponsor Gabrielle Olczak.

About the author Jennifer Cramer-Miller is a writer, speaker, wellness mentor, and gratitude advocate. Her work is featured in Brevity Blog, The Sunlight Press, Grown & Flown, Mamalode, The Erma Bombeck Blog, The Kindness Blog, The Star Tribune, and Minnesota Physician. She is the 2023-2026 Board Chair for the National Kidney Foundation (NKF) Serving Minnesota, and a contributing writer for the NKF Kidney Stories newsletter. She works as a wellness facilitator (named Joy Scouter) to help others manage uncertainty, move forward with hope, and find some joy. She lives in a suburb of Minneapolis, Minnesota, with her witty, lover-of-golf husband and her waggy, lover-of-treats pup.

Find out more about the by visiting: https://jennifercramermiller.com/ 

Connect with Jennifer Cramer-Miller Facebook: https://www.facebook.com/Jennifercramermiller X.com (Twitter): https://x.com/JenCramerMiller LinkedIn: https://www.linkedin.com/in/jennifercramermiller Instagram: https://www.instagram.com/jennifercramermiller/

"Incurable Optimist: Living with Illness and Chronic Hope," is available now, wherever books are sold.

To view the list of NYC Big Book winners and distinguished favorites, please visit: https://www.nycbigbookaward.com/ 

---

The fall book competition, NYC Big Book Award, https://www.nycbigbookaward.com/ allows all authors, publishers, and includes submissions from the big five publishers.

The Independent Press Award announces every spring and is open to independent authors and publishers.  Visit us at https://independentpressaward.com/ 

YouTube Channel http://youtube.com/c/IndependentPressAwardSpringNYCBigBookAwardFall

Join us at the BookCAMP event, a three day trade show for authors and publishers, https://www.independentpressaward.com/ipabookcamp 

Gabby OlczakIndependent Press Award+1 973-969-1899gabby@independentpressaward.comVisit us on social media:FacebookXLinkedInInstagramYouTubeOther

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Items Impacting Our Results include:

• During the three months ended September 30, 2024, the Company acquired one physician clinic for a purchase price of approximately $6.2 million. Upon acquisition, the 20,400 square foot property was 100.0% leased to a tenant with a lease expiration in 2027. This acquisition was funded with proceeds from the Company's Revolving Credit Facility.
• During the third quarter of 2024, the Company disposed of an 11,200 square foot surgical center in Texas, received net proceeds of approximately $1.0 million, and recognized an immaterial gain on sale.
• The Company has four properties under definitive purchase agreements for an aggregate expected purchase price of approximately $8.8 million. The Company's expected returns on these investments range from 9.29% to 9.50%. The Company expects to close on these properties in the fourth quarter of 2024; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.
• The Company also has seven properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $169.5 million. The Company's expected returns on these investments are approximately 9.1% to 9.75%. The Company anticipates closing on these properties throughout 2025, 2026 and 2027; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.
• On October 16, 2024, the Company entered into a second Amendment to the third amended and restated credit agreement (the "Amended Credit Facility") with a syndicate of lenders, under which Truist Bank serves as administrative agent. The Amended Credit Facility, among other things, (i) increased the Company's Revolving Credit Facility from $150.0 million to $400.0 million, (ii) extended the maturity date of the Revolving Credit Facility from March 19, 2026 to October 16, 2029, and (iii) lowered pricing on the Revolving Credit Facility by 10 to 30 basis points, depending on the Company's leverage ratio. Proceeds from the increased Revolving Credit Facility were used to repay the existing A-3 Term Loan which was scheduled to mature on March 29, 2026. In addition, amounts outstanding under the Revolving Credit Facility prior to the second Amendment will remain outstanding. Interest rate swaps previously entered into to fix the interest rates on the A-3 Term Loan will remain in place on the Revolving Credit Facility through their maturity on March 29, 2026.
• During the third quarter of 2024, the Company did not issue any shares under its at-the-market offering program.
• On October 24, 2024, the Company's Board of Directors declared a quarterly common stock dividend in the amount of $0.465 per share. The dividend is payable on November 22, 2024 to stockholders of record on November 8, 2024.

About Community Healthcare Trust IncorporatedCommunity Healthcare Trust Incorporated is a real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in our target sub-markets throughout the United States. As of September 30, 2024, the Company had investments of approximately $1.1 billion in 198 real estate properties (including a portion of one property accounted for as a sales-type lease and one property classified as held for sale). The properties are located in 35 states, totaling approximately 4.4 million square feet in the aggregate.

Additional information regarding the Company, including this quarter's operations, can be found at www.chct.reit.  Please contact the Company at 615-771-3052 to request a printed copy of this information.

Cautionary Note Regarding Forward-Looking StatementsIn addition to the historical information contained within, the matters discussed in this press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "believes", "expects", "may", "will," "should", "seeks", "approximately", "intends", "plans", "estimates", "anticipates" or other similar words or expressions, including the negative thereof. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Because forward-looking statements relate to future events, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the control of Community Healthcare Trust Incorporated (the "Company"). Thus, the Company's actual results and financial condition may differ materially from those indicated in such forward-looking statements. Some factors that might cause such a difference include the following: general volatility of the capital markets and the market price of the Company's common stock, changes in the Company's business strategy, availability, terms and deployment of capital, the Company's ability to refinance existing indebtedness at or prior to maturity on favorable terms, or at all, changes in the real estate industry in general, interest rates or the general economy, adverse developments related to the healthcare industry, changes in governmental regulations, the degree and nature of the Company's competition, the ability to consummate acquisitions under contract, catastrophic or extreme weather and other natural events and the physical effects of climate change, the occurrence of cyber incidents, effects on global and national markets as well as businesses resulting from increased inflation, changes in interest rates, supply chain disruptions, labor conditions, the conflicts in Ukraine and the Middle East, and/or uncertainties related to the 2024 U.S. presidential election, and the other factors described in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and the Company's other filings with the Securities and Exchange Commission from time to time. Readers are therefore cautioned not to place undue reliance on the forward-looking statements contained herein which speak only as of the date hereof. The Company intends these forward-looking statements to speak only as of the time of this press release and undertakes no obligation to update forward-looking statements, whether as a result of new information, future developments, or otherwise, except as may be required by law.

CONTACT:  Bill Monroe, 615-771-3052

SOURCE Community Healthcare Trust Incorporated

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This groundbreaking move marks a new era for stablecoins, breaking down barriers to entry and empowering individuals and businesses worldwide. Now, with a more inclusive and cost-effective way to utilize stablecoin solutions, WSPN and dtcpay are making WUSD a truly borderless and accessible digital currency. By eliminating fees, the partnership will save users significant amounts annually in transaction fees. WUSD will be gradually rolled out to the many merchants supported by dtcpay, including high-end establishments such as 35A Scotts Whisky Club and Capella Hotel Group's flagship properties, Capella Singapore and Patina Maldives, Fari Islands. This practical implementation demonstrates the immediate impact and versatility of WUSD in everyday transactions, from luxury experiences to hospitality services.

"This zero-fee WUSD on-ramp with dtcpay is a game-changer for Stablecoin 2.0," said Raymond Yuan, Founder & CEO of WSPN. "This partnership embodies our vision of making digital assets truly accessible to all, accelerating the adoption of stablecoins in the world. WSPN is proud to lead this financial revolution, reshaping the future of borderless transactions."

"Partnering with WSPN to offer a zero-fee on-ramp for WUSD is a monumental step in making digital assets more accessible and affordable for dtcpay's users. At dtcpay, we are excited to lead this charge toward a more i­nclusive financial future, breaking down barriers and creating new opportunities",  said Anson Zeall, Chief Strategy Officer & Head of Compliance, dtcpay.

By eliminating fees for on-ramping WUSD, WSPN and dtcpay are democratizing access to stablecoins, fostering greater adoption and paving the way for a more efficient, transparent, and equitable financial system globally.

About WSPN

WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure and licensed digital payments for Web3 users. WSPN 's Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.

Learn more: www.wspn.io | X | LinkedIn

About dtcpay

dtcpay is a regulated Major Payment Institution (MPI) licensed by the Monetary Authority of Singapore (MAS) to conduct Digital Payment Token (DPT) services and other payment services under the Payment Services Act (PSA).

As a leading provider of digital payment solutions, we pioneer the integration of cryptocurrency acceptance into traditional financial systems. With a vision to make global transactions seamless and sustainable, dtcpay empowers individuals and businesses to embrace the future of payments. 

Learn more at dtcpay.com.

SOURCE WSPN

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"These two assets are very well positioned in a highly sought-after submarket near abundant retail and dining options, and their proximate locations allow for meaningful operating efficiencies," said Milestone Vice President of Acquisitions, Jason Wise. "Our plans for the assets include enhancement of all common areas and amenities that will immediately boost the resident experience. Furthermore, Milestone assumed the existing loans on both, allowing for a quick and seamless transaction."

About the PropertiesThe properties, located in rapidly growing Stafford County, are conveniently located on US-17 near the I-95 interchange. Immediate retail options include Target, Walmart, Giant Food, Lowe's, Starbucks, and Chick-fil-A. A myriad of options located at nearby Central Park, Spotsylvania Town Centre, and Downtown Fredericksburg are all within 15 minutes.

Kensington Crossing has 476 fully-renovated one-, two- and three-bedroom units that feature stainless steel appliances, granite countertops, and faux-wood flooring throughout the units. Residents enjoy amenities including two swimming pools, tennis and sports courts, two fitness centers, a cabana lounge, and covered parking.

Magnolia Falls features 200 fully-renovated one- and two-bedroom units also including stainless appliances, granite countertops, and faux-wood flooring throughout. Residents have access to a swimming pool with sundeck, playground, dog park, sport court, and fitness center.

About MilestoneThe Milestone Group is a leading, privately held real estate investment management firm with strong expertise and focus on value-add multifamily assets in major metropolitan markets of the United States. Founded in 2003, Milestone has created trust and confidence with its investors through successfully navigating multiple economic cycles across over $9 billion of multifamily investments totaling more than 90,000 units. Milestone invests through a series of discretionary equity funds and has corporate offices in Dallas, TX, Boca Raton, FL, and Atlanta, GA. For more information, please visit www.milestonegp.com or contact [email protected].

SOURCE The Milestone Group

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LAGUNA NIGUEL, Calif., Oct. 29, 2024 /PRNewswire/ -- Realty ONE Group International, a modern, purpose-driven lifestyle brand and ONE of the fastest-growing franchisors in the world, is opening in Uruguay, the 22nd country to join the black and gold movement around the globe.

Eugenia Aiello, with 26 years of experience as an independent broker specializing in construction and development, became the International Regional Owner of Realty ONE Group Argentina just last year. She is now partnering with Hernan Bach, also with two and a half decades of commercial experience, to drive innovation in Uruguay's active real estate market.

"There's no stopping this high-powered duo as they seize the opportunity for growth in Uruguay," said Kuba Jewgieniew, CEO and Founder of Realty ONE Group International. "We've proven the success of the Realty ONE Group model and COOLTURE in markets around the world, especially when championed by impassioned entrepreneurs like Eugenia and Hernan."

Both Aiello and Bach were attracted to Realty ONE Group's forward-thinking business model and rapid international growth and are eager to invest their sales, business development and leadership experience into helping real estate professionals achieve greater success faster.

"These two dynamic entrepreneurs are poised to leave a lasting mark on the vibrant Uruguay market," said Danny Hernandez, Vice President of International for Realty ONE Group. "With their infectious energy and shared vision, they are ready to introduce Realty ONE Group's unique "COOLture" and its empowering "Be Golden Be You" philosophy to our International real estate professionals and reshape the real estate landscape in Uruguay!"

The UNBrokerage, as it's known in real estate, just surpassed 20,000 real estate professionals worldwide as the brand's popularity continues to soar because of its 100% commission model and comprehensive offering of business coaching, support, tools and marketing.

Realty ONE Group International claimed the No. 1 spot for real estate franchisors for the third year in a row on Entrepreneur's highly competitive 2024 Franchise 500® list. The only modern, lifestyle brand in the industry now has more than 20,000 real estate professionals in more than 450 locations in 49 U.S. states, Washington D.C. and 22 more countries and territories.

Learn more at www.OwnAOne.com.

About Realty ONE Group InternationalRealty ONE Group International is one of the fastest growing, modern, purpose-driven lifestyle brands in real estate whose ONE Purpose is to open doors across the globe – ONE home, ONE dream, ONE life at a time. The organization has rapidly grown to more than 20,000 real estate professionals in over 450 locations across 22 countries and territories because of its proven business model, full-service brokerages, dynamic COOLTURE, superior business coaching through ONE University, outstanding support and its proprietary technology, zONE. Realty ONE Group International has been named the number ONE real estate brand by Entrepreneur Magazine for three consecutive years and continues to surge ahead, opening doors, not only for its clients but for real estate professionals and franchise owners. To learn more, visit www.RealtyONEGroup.com.

SOURCE Realty ONE Group

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Highlights for the three months ended September 30, 2024:

• Achieved net income attributable to common stockholders of $0.91 per diluted share, representing a 5.2% decrease compared to the same period in the prior year primarily due to a $51.8 million loss related to the impairment of the Life Storage Inc. ("Life Storage" or "LSI") trade name based on the Company's decision to operate under a single brand.
• Achieved funds from operations attributable to common stockholders and unit holders ("FFO") of $1.75 per diluted share. FFO, excluding adjustments ("Core FFO"), was $2.07 per diluted share, representing a 2.5% increase compared to the same period in the prior year.
• Same-store revenue decreased by (0.3)% and same-store net operating income ("NOI") decreased by (1.0)% compared to the same period in the prior year.
• Reported ending same-store occupancy of 94.3% as of September 30, 2024, compared to 93.7% as of September 30, 2023.
• The Company acquired 10 operating stores and one store at completion of construction ("Certificate of Occupancy stores" or "C of O stores") for a total cost of approximately $163.9 million.
• In conjunction with joint venture partners, acquired five properties and completed two developments for a total cost of approximately $114.6 million, of which the Company invested $30.7 million.
• The Company recognized a gain of $13.7 million upon the dissolution of two joint ventures which owned 17 properties.
• Originated $158.4 million in mortgage and mezzanine bridge loans and sold $179.0 million mortgage bridge loans.
• Added 63 stores (38 stores net) to the Company's third-party management platform. As of September 30, 2024, the Company managed 1,461 stores for third parties and 460 stores in unconsolidated joint ventures, for a total of 1,921 managed stores.
• Moody's Ratings revised the Company's credit outlook to positive from stable.
• Paid a quarterly dividend of $1.62 per share.

Highlights for the nine months ended September 30, 2024:

• Achieved net income attributable to common stockholders of $2.79 per diluted share, representing a 26.2% decrease compared to the same period in the prior year, due to a $51.8 million loss related to the impairment of the Life Storage trade name and a $63.6 million loss on assets held for sale, offset by a $13.7 million gain related to the dissolution of two joint ventures.
• Achieved FFO of $5.61 per diluted share, and Core FFO of $6.09 per diluted share, representing a 0.2% increase compared to the same period in the prior year.
• Increased same-store revenue by 0.4% and same-store NOI decreased by (0.9)% compared to the same period in the prior year.
• Acquired 17 operating store and three C of O stores for a total cost of approximately $226.6 million.
• In conjunction with joint venture partners, acquired five operating stores and completed five developments for a total cost of approximately $163.7 million, of which the Company invested $77.7 million.
• Originated $755.9 million in mortgage and mezzanine bridge loans and sold $190.1 million in mortgage bridge loans.
• Added 237 stores (124 stores net) to the Company's third-party management platform.

Joe Margolis, CEO of Extra Space Storage Inc., commented: "We continue to maintain strong occupancy during a time of year which is typically marked by occupancy declines.  This occupancy both optimizes performance in the current market and positions the portfolio for future revenue growth.  Our third-party management, bridge loan and insurance businesses continue to outperform projections, and together with incremental G&A savings, produced core FFO per share growth modestly ahead of our projections."

FFO Per Share:

The following table (unaudited) outlines the Company's FFO and Core FFO for the three and nine months ended September 30, 2024 and 2023.  The table also provides a reconciliation to GAAP net income attributable to common stockholders and earnings per diluted share for each period presented (amounts shown in thousands, except share and per share data):

Operating Results and Same-Store Performance:

The following table (unaudited) outlines the Company's same-store performance for the three and nine months ended September 30, 2024, and 2023 (amounts shown in thousands, except store count data)¹:

Details related to the same-store performance of stores by metropolitan statistical area ("MSA") for the three and nine months ended September 30, 2024, and 2023 are provided in the supplemental financial information published on the Company's Investor Relations website at https://ir.extraspace.com/.

Investment and Property Management Activity:

The following table (unaudited) outlines the Company's acquisitions and developments that are closed, completed or under agreement (dollars in thousands). 

The projected developments and acquisitions under agreement described above are subject to customary closing conditions and no assurance can be provided that these developments and acquisitions will be completed on the terms described, or at all.

Property Sales:

During the three months ended September 30, 2024, the Company added an additional 11 properties for sale. Of the 11 properties listed, three were adjusted to fair value less selling costs resulting in a loss of $8.9 million.

The Company sold its interest in one joint venture, which had nine properties, to its partner.  Separately, the Company purchased its partner's interest in three properties, which are now wholly owned, from another joint venture which previously held eight properties. That joint venture sold the remaining five properties to a new joint venture. These two transactions resulted in a net gain of $13.7 million.

Bridge Loans:

During the three months ended September 30, 2024, the Company originated $158.4 million in bridge loans and sold 11 bridge loans totaling $179.0 million.   Outstanding balances of the Company's bridge loans were approximately $1.0 billion at quarter end. The Company has an additional $234.6 million in bridge loans that have closed subsequent to quarter end or are under agreement to close in 2024 and 2025.  Additional details related to the Company's loan activity and balances held are included in the supplemental financial information published on the Company's Investor Relations website at https://ir.extraspace.com/.

Property Management:

As of September 30, 2024, the Company managed 1,461 stores for third-party owners and 460 stores owned in unconsolidated joint ventures, for a total of 1,921 stores under management.  The Company is the largest self-storage management company in the United States.

Balance Sheet:

During the three months ended September 30, 2024, the Company did not issue any shares on its ATM program, and as of September 30, 2024, the Company had $800.0 million available for issuance. Likewise, the Company did not repurchase any shares of common stock using its stock repurchase program during the quarter, and as of September 30, 2024, the Company had authorization to purchase up to $500.0 million under the program. 

During the three months ended September 30, 2024, the Company completed a public bond offering issuing $400.0 million of 5.35% senior unsecured notes due January 2035.  Also, the Company exercised an accordion feature within its credit facility and increased the outstanding balance of one unsecured term loan by $300.0 million.

During the three months ended September 30, 2024, the Company paid off a $335.0 million unsecured loan due to mature in January 2025 and paid off two secured loans totaling $248.3 million both due to mature in November 2024.

As of September 30, 2024, the Company's percentage of fixed-rate debt to total debt was 78.3%. Net of the impact of variable rate receivables, the effective fixed-rate debt to total debt was 87.0%.  The weighted average interest rates of the Company's fixed and variable-rate debt were 4.0% and 6.0%, respectively. The combined weighted average interest rate was 4.5% with a weighted average maturity of approximately 4.7 years.

Dividends:

On September 30, 2024, the Company paid a third quarter common stock dividend of $1.62 per share to stockholders of record at the close of business on September 16, 2024.

Outlook:

The following table outlines the Company's current and prior quarter Core FFO estimates and assumptions for the year ending December 31, 2024¹.

FFO estimates for the year are fully diluted for an estimated average number of shares and OP units outstanding during the year. The Company's estimates are forward-looking and based on management's view of current and future market conditions. The Company's actual results may differ materially from these estimates.

Supplemental Financial Information:

Supplemental unaudited financial information regarding the Company's performance can be found on the Company's website at www.extraspace.com. Under the "Company Info" navigation menu on the home page, click on "Investor Relations," then under the "Financials & Stock Information" navigation menu click on "Quarterly Earnings." This supplemental information provides additional detail on items that include store occupancy and financial performance by portfolio and market, debt maturity schedules and performance of lease-up assets.

Conference Call:

The Company will host a conference call at 1:00 p.m. Eastern Time on Wednesday, October 30, 2024, to discuss its financial results. Telephone participants may avoid any delays in joining the conference call by pre-registering for the call using the following link to receive a special dial-in number and PIN:https://register.vevent.com/register/BIfda1b8eed48a41fc806d31b70fc6c2bf.

A live webcast of the call will also be available on the Company's investor relations website at https://ir.extraspace.com. To listen to the live webcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software.

A replay of the call will be available for 30 days on the investor relations section of the Company's website beginning at 5:00 p.m. Eastern Time on October 30, 2024. 

Forward-Looking Statements:

Certain information set forth in this release contains "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements include statements concerning the benefits of store acquisitions, developments, market conditions, our outlook and estimates for the year, statements concerning the impact of the Life Storage Merger and other statements concerning our plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, the competitive landscape, plans or intentions relating to acquisitions and developments, estimated hurricane-related insurance claims and other information that is not historical information. In some cases, forward-looking statements can be identified by terminology such as "believes," "estimates," "expects," "may," "will," "should," "anticipates," or "intends," or the negative of such terms or other comparable terminology, or by discussions of strategy. We may also make additional forward-looking statements from time to time. All such subsequent forward-looking statements, whether written or oral, by us or on our behalf, are also expressly qualified by these cautionary statements. There are a number of risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements contained in or contemplated by this release. Any forward-looking statements should be considered in light of the risks referenced in the "Risk Factors" section included in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Such factors include, but are not limited to:

• adverse changes in general economic conditions, the real estate industry and the markets in which we operate;
• failure to realize the expected benefits of the Life Storage Merger;
• the risk that Life Storage's business will not be fully integrated successfully or that such integration may be more difficult, time-consuming or costly than expected;
• the uncertainty of expected future financial performance and results of the combined company following completion of the Life Storage Merger;
• failure to close pending acquisitions and developments on expected terms, or at all;
• the effect of competition from new and existing stores or other storage alternatives, including increased or unanticipated competition for our properties, which could cause rents and occupancy rates to decline;
• potential liability for uninsured losses and environmental contamination;
• the impact of the regulatory environment as well as national, state and local laws and regulations, including, without limitation, those governing real estate investment trusts ("REITs"), tenant reinsurance and other aspects of our business, which could adversely affect our results;
• our ability to recover losses under our insurance policies;
• disruptions in credit and financial markets and resulting difficulties in raising capital or obtaining credit at reasonable rates or at all, which could impede our ability to grow;
• our reliance on information technologies, which are vulnerable to, among other things, attack from computer viruses and malware, hacking, cyberattacks and other unauthorized access or misuse, any of which could adversely affect our business and results;
• changes in global financial markets and increases in interest rates;
• availability of financing and capital, the levels of debt that we maintain and our credit ratings;
• risks associated with acquisitions, dispositions and development of properties, including increased development costs due to additional regulatory requirements related to climate change and other factors;
• reductions in asset valuations and related impairment charges;
• our lack of sole decision-making authority with respect to our joint venture investments;
• the effect of recent or future changes to U.S. tax laws;
• the failure to maintain our REIT status for U.S. federal income tax purposes;
• impacts from any outbreak of highly infectious or contagious diseases, including reduced demand for self-storage space and ancillary products and services such as tenant reinsurance, and potential decreases in occupancy and rental rates and staffing levels, which could adversely affect our results; and
• economic uncertainty due to the impact of natural disasters, war or terrorism, which could adversely affect our business plan.

All forward-looking statements are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them, but there can be no assurance that management's expectations, beliefs and projections will result or be achieved. All forward-looking statements apply only as of the date made. We undertake no obligation to publicly update or revise forward-looking statements which may be made to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.

Definition of FFO:

FFO provides relevant and meaningful information about the Company's operating performance that is necessary, along with net income and cash flows, for an understanding of the Company's operating results. The Company believes FFO is a meaningful disclosure as a supplement to net income. Net income assumes that the values of real estate assets diminish predictably over time as reflected through depreciation and amortization expenses. The values of real estate assets fluctuate due to market conditions and the Company believes FFO more accurately reflects the value of the Company's real estate assets. FFO is defined by the National Association of Real Estate Investment Trusts, Inc. ("NAREIT") as net income computed in accordance with U.S. generally accepted accounting principles ("GAAP"), excluding gains or losses on sales of operating stores and impairment write downs of depreciable real estate assets, plus depreciation and amortization related to real estate and after adjustments to record unconsolidated partnerships and joint ventures on the same basis. The Company believes that to further understand the Company's performance, FFO should be considered along with the reported net income and cash flows in accordance with GAAP, as presented in the Company's consolidated financial statements. FFO should not be considered a replacement of net income computed in accordance with GAAP.

For informational purposes, the Company also presents Core FFO.  Core FFO excludes revenues and expenses not core to our operations and transaction costs.  It also includes certain costs associated with the Life Storage Merger including transition costs, non-cash interest related to the amortization of discount on unsecured senior notes, amortization of other intangibles, net of tax benefit, and impairment of Life Storage trade name.  Although the Company's calculation of Core FFO differs from NAREIT's definition of FFO and may not be comparable to that of other REITs and real estate companies, the Company believes it provides a meaningful supplemental measure of operating performance. The Company believes that by excluding revenues and expenses not core to our operations and non-cash interest charges, stockholders and potential investors are presented with an indicator of our operating performance that more closely achieves the objectives of the real estate industry in presenting FFO. Core FFO by the Company should not be considered a replacement of the NAREIT definition of FFO. The computation of FFO may not be comparable to FFO reported by other REITs or real estate companies that do not define the term in accordance with the current NAREIT definition or that interpret the current NAREIT definition differently. FFO does not represent cash generated from operating activities determined in accordance with GAAP, and should not be considered as an alternative to net income as an indication of the Company's performance, as an alternative to net cash flow from operating activities as a measure of liquidity, or as an indicator of the Company's ability to make cash distributions.

Definition of Same-Store:

The Company's same-store pool for the periods presented consists of 1,075 stores that are wholly-owned and operated and that were stabilized by the first day of the earliest calendar year presented.  The Company considers a store to be stabilized once it has been open for three years or has sustained average square foot occupancy of 80.0% or more for one calendar year. The Company believes that by providing same-store results from a stabilized pool of stores, with accompanying operating metrics including, but not limited to occupancy, rental revenue (growth), operating expenses (growth), net operating income (growth), etc., stockholders and potential investors are able to evaluate operating performance without the effects of non-stabilized occupancy levels, rent levels, expense levels, acquisitions or completed developments.  Same-store results should not be used as a basis for future same-store performance or for the performance of the Company's stores as a whole. No modification has been made to the same-store pool to include any assets acquired from Life Storage.

About Extra Space Storage Inc.:

Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of September 30, 2024, the Company owned and/or operated 3,862 self-storage stores in 42 states and Washington, D.C. The Company's stores comprise approximately 2.7 million units and approximately 296.7 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. It is the largest operator of self-storage properties in the United States.

SOURCE Extra Space Storage Inc.

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DENVER, Oct. 29, 2024 /PRNewswire/ -- RE/MAX, LLC, the #1 name in real estate¹, is ranked #1 among real estate brands on the 2024 Franchise Times Top 400, an exclusive annual list of the largest U.S.-based franchise systems by global systemwide sales. Overall, RE/MAX proudly holds the #14 spot.

This achievement marks the 16th consecutive year RE/MAX has earned the #1 position for real estate franchises in the Franchise Times Top 400. The real estate leader also moved up one spot on the overall rankings, from #15 in 2023 to #14, further solidifying its place as a trusted and longstanding brand.

"For over 50 years, we've dedicated ourselves to equipping franchisees with the resources, tools and support they need to thrive," said RE/MAX, LLC President Amy Lessinger. "This ranking not only highlights the strength of RE/MAX but also reflects the unwavering commitment of our franchise owners and the value we provide to real estate professionals seeking a strong business foundation."

"Being recognized in the Franchise Times Top 400 is a powerful affirmation of our vision for the real estate industry and the remarkable efforts of RE/MAX franchisees," added Peter Luft, RE/MAX Vice President of Franchise Sales. "While RE/MAX owners leverage the brand and proven business model, it's their entrepreneurial spirit and local market expertise that truly fuel their growth and strengthen the brand."

Earlier this year, RE/MAX was also recognized as a top franchisor in the Entrepreneur Franchise 500 ranking, an honor RE/MAX has received for 40 consecutive years, and was included in Entrepreneur's Franchise 500 Hall of Fame.

RE/MAX has a presence in more countries and territories than any other real estate brand. From a single office that opened in 1973 in Denver, Colorado, RE/MAX has grown into a global real estate network with more than 140,000 sales associates in nearly 9,000 offices and a presence in more than 110 countries and territories.

About the RE/MAX Network

As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than 140,000 agents in nearly 9,000 offices and a presence in more than 110 countries and territories. Nobody in the world sells more real estate than RE/MAX, as measured by residential transaction sides. RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. RE/MAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children's Miracle Network Hospitals® and other charities. To learn more about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about RE/MAX, please visit news.remax.com.

¹ Source: MMR Strategy Group study of unaided awareness

SOURCE RE/MAX, LLC

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RIDGEFIELD, WA, UNITED STATES, October 24, 2024 /EINPresswire.com/ -- Darlene Netzer, a distinguished educator and passionate advocate for the Montessori method, is thrilled to announce her continued dedication and commitment to shaping young minds through innovative teaching strategies. With a background in both public and Montessori education, Darlene Netzer brings a unique and rich perspective to the learning environment, particularly at the secondary level.

Educational Journey and Philosophy

Darlene Netzer’s educational journey is rooted deeply in her early life experiences. Growing up on a small farm, her fascination with learning and teaching was evident as she often gathered her siblings to play ‘classroom,’ albeit their preference for outdoor adventures. Her passion for books, spurred by her self-educated English father, cemented her foundation for a lifelong love of learning—an ethos she seamlessly integrates into her teaching practices.

“My father’s belief in lifelong learning significantly influenced my educational philosophy,” says Netzer. “In alignment with Montessori principles, I strive to instill in students a love for learning by nurturing their innate curiosity.”

Montessori Education and Beyond

Darlene holds a master’s degree in Montessori education, which she complemented with valuable insights from her time teaching in public schools. At St. Francis Academy in Portland, Darlene taught grades 7 through 12, dividing her students into junior and senior divisions. Her innovative approach often involved setting up a writing workshop, acting as the core from which various subjects seamlessly integrated. She focused on ‘following the child’—an essential Montessori tenet—allowing students to explore their interests and build upon them.

Her experience highlights the success of personalized learning, as illustrated through one student’s remarkable transformation. “Discovering a child’s interest, such as woodworking, can significantly alter their educational trajectory,” she notes. “A frustrated 13-year-old found his passion in designing and building materials, which in turn transformed his approach to learning and life.”

An Environment for Lifelong Learners

Darlene Netzer emphasizes the Montessori philosophy of nurturing lifelong learners. She utilizes students’ strengths to address their weaknesses, integrating interest-based learning into her curriculum. Through personal anecdotes and successful student transformations, Darlene illustrates the power of the Montessori method in fostering confident, capable learners equipped for future challenges.

“By observing students and giving them the space to explore their interests, they naturally thrive,” says Netzer. “Education extends beyond the classroom, incorporating real-life skills, critical thinking, and personal responsibility.”

A Call for Montessori Awareness

As a firm advocate for Montessori education, Darlene encourages parents and educational stakeholders to understand its benefits and commit to holistic educational experiences. She highlights the importance of integrating core subjects with their lives, as demonstrated through various projects and ‘earth children’ experiences at St. Francis Academy.

“Montessori education goes beyond academics, preparing students for life,” Darlene states. “Through real-world applications, such as planning educational trips and practical projects, students develop essential skills that prepare them for the future.”

Committed to Educational Excellence

Although retired, Darlene Netzer’s impact endures through her legacy and ongoing advocacy for the Montessori method. Her educational practice stands as a testament to the success of fostering independent, lifelong learners by understanding and nurturing each child’s unique potential.

Future Endeavors and Contact Information

Darlene Netzer remains an active voice for Montessori education, guiding new educators and collaborating with institutions to implement creative learning initiatives. She encourages families to explore Montessori-oriented activities and create enriching learning environments at home.

Darlene Netzer is a seasoned educator with comprehensive experience in public and Montessori education. Specializing in secondary school education, she is devoted to fostering environments that anchor on students’ strengths and individual interests. Through innovative teaching and personalized learning strategies, Darlene empowers students to become self-directed, confident learners, equipped for lifelong learning.

Close Up Radio will feature Darlene Netzer in an interview with Doug Llewelyn on Monday, October 28th at 5pm EST and with Jim Masters on Monday, November 4th at 5pm EST

Listen to the show on BlogTalkRadio

If you have any questions for our guest, please call (347) 996-3389

For more information about Darlene Netzer, please visit https://www.linkedin.com/in/darlene-lambert-netzer-4a730113

Lou Ceparano
Close Up Television & Radio+1 631-850-3314email us hereVisit us on social media:Facebook

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The portfolio consists of 44 prime sites: 23 single-family homes, nine multifamily complexes and eight land parcels, three mixed-use properties and one residential condominium. These are strategically located in highly desirable neighborhoods and towns such as Seabreeze Historic District, Surfside Historic District, Daytona Beach Shores and Port Orange. About 40% of the properties are tenant-occupied and can continue to generate rental income. With Daytona Beach being a popular tourist destination, several of these properties also present excellent opportunities for short-term rentals, appealing to vacationers and those looking for temporary stays.

The portfolio also includes two redevelopment assemblages. The first comprises of 10 properties that span an entire block, providing opportunity for a high-density multifamily development. The other assemblage features three adjacent land parcels that can accommodate single family homes or a larger fourplex structure. All the sites offer the potential to build custom beachside homes or enhance existing structures. With proximity to the Atlantic Ocean, recreational areas and Daytona's lively entertainment scene, these residences and land parcels stand out as attractive prospects for investors and developers alike.

Long known as a tourist destination through its spring break and motorsports culture as well as hard-packed white sand beaches, Daytona Beach is rapidly transforming into a popular residential area. The city offers affordable coastal living, a year-round mild climate as well as a robust local economy driven by tourism, healthcare and education. Attracting retirees, young professionals and families, Daytona Beach has ranked fourth among the Fastest-Growing Places in the U.S. for 2024-2025 by U.S. News, with a population migration growth rate of 4.92%. This influx of new residents is driving increased demand for housing and development, making this portfolio particularly timely.

Jonathan Cuticelli, vice president at Hilco Real Estate Sales, said, "These residential sites offer a truly unique opportunity to invest in one of Florida's most iconic and rapidly growing coastal cities. With Daytona Beach experiencing substantial growth, particularly in sought-after historic districts and waterfront neighborhoods, investors and developers alike can take advantage of these locations for either rental income, high-end residential development or someone looking for a new home."

Individual bids are not required before the auction date for those interested in single properties. However, for those wishing to submit a bulk bid for multiple properties, these bids must be submitted to Hilco Real Estate Sales by November 13, 2024, at 5:00 p.m. (ET) ahead of the virtual auction beginning on November 19, 2024.   

The sale is being conducted in cooperation with Jiovanny Restrepo PLLC, Florida Broker License #3105916. Bidders must agree to the Terms of Sale and the Florida Form Purchase Agreement, which includes an addendum for an "as-is, where-is" basis. A $5,000 deposit per property is required, with a maximum of five properties per bidder. A buyer's seminar will be held on November 13, 2024, at 3:00 p.m. (ET) for those seeking more information about the bidding process and the online auction site.

Interested bidders should review the requirements to participate in the auction sale process available on Hilco Real Estate Sale's website. For further information, please contact Jonthan Cuticelli at (203) 561-8737 | [email protected] or Jiovanny Restrepo at (847) 386-2282 | [email protected].

For further information on the property, sale process and terms or to obtain access to due diligence documents, please visit HilcoRealEstateSales.com or call (855) 755-2300.

About Hilco Real Estate Sales 
Successfully positioning the real estate holdings within a company's portfolio is a material component of establishing and maintaining a strong financial foundation for long-term success. At Hilco Real Estate Sales (HRE), a Hilco Global company (HilcoGlobal.com), we advise and execute strategies to assist clients seeking to optimize their real estate assets, improve cash flow, maximize asset value and minimize liabilities and portfolio risk. We help clients traverse complex transactions and transitions, coordinating with internal and external networks and constituents to navigate ever-challenging market environments.

The trusted, full-service HRE team has secured billions in value for hundreds of clients over 20+ years. We are deeply experienced in complex transactions including artful lease renegotiation, multi-faceted sales structures, strategic asset management and capital optimization. We understand the legal, financial and real estate components of the process, all of which are vital to a successful outcome. HRE can help identify the most viable options and direction for a company and its real estate portfolio, delivering impressive results in every situation.

SOURCE Hilco Real Estate

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STAMFORD, Conn., Oct. 10, 2024 /PRNewswire/ -- As the election season enters the homestretch, there is a renewed focus across all demographics and age groups on financial privacy and security. The latest survey from Grayscale Investments® and The Harris Poll has aimed to find Americans' feelings toward the issues surrounding the election, their individual portfolios, privacy, security, and crypto investing. The survey examines Americans' appetite for government regulations in financial protection and their willingness to share personal information with various agencies and banking institutions. In this interview, Craig Salm, Chief Legal Officer at Grayscale Investments,  breaks down the survey results and shares what viewers need to know about the biggest issues voters are raising as we get closer to the Presidential election.

Experience the full interactive Multichannel News Release here: https://www.multivu.com/grayscale-investments/9288551-en-grayscale-investments-the-harris-poll-financial-privacy-security-survey

The survey reveals:

• Respondents' interests when it comes to investing, crypto, and perceptions of the financial system
• Who respondents trust most to protect their financial privacy.
• What actions respondents have taken in regards to crypto - are they interested in investing? 
• The general attitudes respondents have about the U.S. government and government agencies accessing their financial information for security or regulation purposes.
• How respondents believe U.S. regulators and policymakers should manage new and emerging technologies like AI and crypto.

MORE ABOUT CRAIG SALM:
Craig Salm is the Chief Legal Officer at Grayscale Investments. In this role, Craig oversees the daily legal and regulatory operations of the business and its products. Prior to joining Grayscale, Craig was a corporate associate at Paul Weiss and a member of its Capital Markets & Securities Group – primarily focused on representing issuers, private equity sponsors, investment banks, hedge funds, and other stakeholders in corporate finance transactions, as well as advising on securities law and corporate governance matters. Craig earned his Bachelor of Science from the University of Michigan and his Juris Doctor from the Benjamin N. Cardozo School of Law. Craig serves as a board member of the Ethereum Classic Cooperative, as the co-chair of the Securities Law Working Group for the Blockchain Association and is an active member of the Crypto Ratings Council (CRC).

Produced for: Grayscale Investments

Media contact - Jennifer Rosenthal, [email protected]

SOURCE Grayscale Investments

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CONCORD, Calif., Oct. 2, 2024 /PRNewswire/ -- For the second quarter of 2024, The North Star Capital Fund LLC ("Fund") reported an outstanding 13.5% average APR net return since inception for its Fund Members who have reinvested or "rolled over" all their distributions. The Fund had another strong quarter, reporting a 9.1% APR net return to the Fund's Members, well within its guidelines of 8.0-10.0%. Since inception, the average APR net return for Fund Members that take quarterly distributions has been 11.0%. "The Fund continues to outperform similar funds by close to 50%," states John W. Simonse, President of LHJS Investments LLC ("LHJS") and a Managing Member of the Fund. "For investors who prefer an investment secured by California real estate, one that does not rely on the unpredictability of the stock market, The North Star Capital Fund is a proven choice. The Fund managers have the combined wisdom of over one hundred years of experience in real estate. They have been through many real estate market cycles and are well-equipped to handle any problems that may arise.

"The 2025 outlook for the Fund and the economy is very positive due to the decrease in interest rates," states Mr. Simonse. "The real estate market is highly dependent on loan interest rates. After the Fed cut interest rates half a percent at the September meeting, mortgage rates responded by dropping to 6% for 30-year fixed and 5.5% for 15-year loans. Most analysts expect the Fed to cut rates another half point by the end of the year and a full point in 2025. As rates drop, housing prices are expected to increase. For buyers who have been on the fence, the best time to buy will be around the end of the year, when there is less competition with other buyers and before home prices jump up."

Mr. Simonse continues, "In California, single-family median home prices this year were up statewide about 5% over last year. They are predicted to be up an additional 6% next year. However, much of this growth is occurring in outlying areas, not in the big cities. For example, the housing market in San Francisco, once the bellwether of rising real estate prices, is expected to continue to decline next year, with prices dropping an additional 3-5% due to affordability problems, poor governance, and the lack of office workers.  While on the other hand, prices in Los Angeles and the Greater Los Angeles area should continue to rise moderately."

About The North Star Capital Fund LLC

The Fund provides construction, remodeling, and other business-purpose loans in the Bay Area and the greater Los Angeles area, where the demand for construction lending is extremely high.

The North Star Capital Fund is open to accredited investors only. Call now if you would like to invest in trust deeds alongside Mr. Simonse and his partners.

Contact: John W. Simonse Phone: 925-603-0433 Email: [email protected]

SOURCE The North Star Capital Fund LLC

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Crusoe will design, build and operate the new 206 megawatt ("MW"), 998,000-square-foot data center. The property will be a build-to-suit, two-building development constructed to industry-leading efficiency and reliability standards, and capable of supporting high energy density IT applications. The project is 100% long-term leased to a Fortune 100 hyperscale tenant with occupancy expected to begin in 1H 2025. Supported by Blue Owl's investment and developed by Crusoe, the project will incorporate an innovative DC design, sharpened to support cutting-edge artificial intelligence ("AI") workloads at an industry-leading scale. The design will be optimized for direct-to-chip liquid cooling and will also accommodate air cooling. At completion, the data center will be able to operate up to 100,000 GPUs on a single integrated network fabric, advancing the frontier of data center design and scale for AI training and inference workloads.

"Crusoe's leadership team has positioned the Lancium Clean Campus to capitalize on unprecedented growth from high energy density IT applications, and the JV with Blue Owl and Primary Infrastructure only further supports those efforts," said Mayo. "We look forward to continuing to support the JV and are excited to have served as the exclusive advisor in this transaction."

The 200+ MW capacity will be delivered in 2025 on a substantially accelerated construction timeline. This speed is achieved through Crusoe's innovative design strategies and intimate familiarity with the GPUs and other integral AI hardware that will outfit the site.

The project is expected to contribute nearly $1 billion to the local economy over the next 20 years, as estimated by the Development Corporation of Abilene¹, and will focus on local hiring, creating almost a hundred local jobs. Combined with its limited environmental impact due to the proposed use of renewable energy, this project reflects Crusoe's commitment to lead the industry in sustainability and community stewardship.

Newmark Research reported in January that the data center industry is growing rapidly, fueled by expanding needs of hyperscalers, AI and other high-performance computing users, as well as large enterprises. The increased demand has spurred a surge in new development and land banking for future development, with data center construction pipelines hitting new all-time highs in 2024.

About Crusoe Energy Systems LLCCrusoe is on a mission to align the future of computing with the future of the climate. As builders and operators of clean computing infrastructure, Crusoe reduces both the costs and the environmental impact of the world's expanding digital economy. By utilizing clean sources of energy to power artificial intelligence, crypto, and other high-performance computing applications, Crusoe is creating a future of sustainable innovation.

To learn more, visit https://crusoe.ai/ and follow Crusoe on Linkedin and X.

About Blue Owl Capital IncBlue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives. With over $192 billion in assets under management as of June 30, 2024, we invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Estate. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.

Together with over 820 experienced professionals, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com.

About Primary Digital InfrastructurePrimary Digital Infrastructure provides flexible, repeatable financing solutions that allow data center operators to unlock precious liquidity from existing assets and achieve their development objectives. Primary Digital Infrastructure's mission is to 'risk match' this incremental capital by purchasing the best stabilized assets from developers and operators to allow them to recycle capital and finance their pipelines. Primary Digital Infrastructure is dedicated to an operator-centric model that allows the best data center developers and owners to recycle capital with as little friction as possible. Established by industry leaders Bill Stein, David Ferdman, Peter Hopper, and John Sheputis, Primary Digital Infrastructure provides capital to premier data center owners and operators through a range of financial solutions including recapitalizations, outright purchases, and forward takeouts. To learn more, visit https://primaryinfra.com/.

About NewmarkNewmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of June 30, 2024, Newmark's company-owned offices, together with its business partners, operate from approximately 170 offices with 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about NewmarkStatements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

¹ https://developabilene.com/wp-content/uploads/2021_12_Project_Artemis_Press_Release_Final.pdf

SOURCE Newmark Group, Inc.

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Raises Full Year 2024 Guidance

LAS VEGAS, Oct. 29, 2024 /PRNewswire/ -- AMH (NYSE: AMH) (the "Company"), a leading large-scale integrated owner, operator and developer of single-family rental homes, today announced its financial and operating results for the quarter ended September 30, 2024.

Additionally, AMH today announced that in October 2024, the Company acquired a portfolio of nearly 1,700 single-family rental homes for approximately $480 million. The acquisition of the well-located, detached, high-quality homes across 13 markets reflects the Company's disciplined and responsible approach to growth as well as the Company's ability to create value by integrating homes onto the AMH platform. The Company funded the transaction through a combination of cash on hand and its previously undrawn revolving credit facility.

Highlights

• Rents and other single-family property revenues increased 5.5% year-over-year to $445.1 million for the third quarter of 2024.
• Net income attributable to common shareholders totaled $73.8 million, or $0.20 per diluted share, for the third quarter of 2024, compared to $74.1 million, or $0.20 per diluted share, for the third quarter of 2023.
• Core Funds from Operations ("Core FFO") attributable to common share and unit holders increased 6.3% year-over-year to $0.44 per FFO share and unit for the third quarter of 2024 and Adjusted Funds from Operations ("Adjusted FFO") attributable to common share and unit holders increased 8.0% year-over-year to $0.38 per FFO share and unit for the third quarter of 2024.
• Core Net Operating Income ("Core NOI") from Same-Home properties increased by 5.4% year-over-year for the third quarter of 2024.
• Achieved Same-Home Average Occupied Days Percentage of 95.9% in the third quarter of 2024, while generating 5.3% rate growth on new leases and 5.2% rate growth on renewals, resulting in 5.2% blended rate growth.
• Delivered a total of 753 high-quality and energy-efficient newly constructed homes from our AMH Development Program to our wholly-owned portfolio and unconsolidated joint ventures in the third quarter of 2024.
• Raised Full Year 2024 Core FFO attributable to common share and unit holders guidance midpoint by $0.01 per share and unit to $1.77, representing anticipated full year growth of 6.6% over prior year.

"We founded this Company to provide high-quality housing for Americans. Reflecting on the last 12 years at AMH, we accomplished more than I ever imagined and I am grateful to pass the baton to our long-term Chief Operating Officer Bryan Smith at the end of the year," stated David Singelyn, Chief Executive Officer of AMH.

"AMH is at the forefront of the increasingly important single-family rental industry because of the quality of our rental homes, our diversified footprint, strength of our operating platform, and seamless execution from our teams. Long-term business fundamentals remain strong and AMH's history of delivering consistent and predictable operating results and growing responsibly will continue to drive shareholder returns for years to come."

Third Quarter 2024 Financial Results

Net income attributable to common shareholders totaled $73.8 million, or $0.20 per diluted share, for the third quarter of 2024, compared to $74.1 million, or $0.20 per diluted share, for the third quarter of 2023. The decrease was primarily due to a $5.3 million loss on early extinguishment of debt and $3.9 million of hurricane-related charges, net in the third quarter of 2024, partially offset by an increase in other income and expense, net as a result of higher interest income as well as increases in rents and other single-family property revenues exceeding increases in total expenses excluding hurricane-related charges, net.

Rents and other single-family property revenues increased 5.5% to $445.1 million for the third quarter of 2024, compared to $421.7 million for the third quarter of 2023. Revenue growth was primarily driven by higher rental rates.

Core NOI from our total portfolio increased 7.7% to $242.1 million for the third quarter of 2024, compared to $224.8 million for the third quarter of 2023. This growth was driven by a 6.1% increase in core revenues resulting primarily from higher rental rates, partially offset by a 3.3% increase in core property operating expenses.

For the Company's Same-Home portfolio, core revenues increased 4.4% to $335.6 million for the third quarter of 2024, compared to $321.6 million for the third quarter of 2023, which was driven by a 5.1% increase in Average Monthly Realized Rent per property, partially offset by a 60 basis point decrease in Average Occupied Days Percentage. Core property operating expenses from Same-Home properties increased 2.6% to $118.5 million for the third quarter of 2024, compared to $115.5 million for the third quarter of 2023, primarily driven by annual increases in property tax expense and partially offset by lower repairs and maintenance and turnover costs, net. As a result, Core NOI from Same-Home properties increased 5.4% to $217.1 million for the third quarter of 2024, compared to $206.1 million for the third quarter of 2023.

Core FFO attributable to common share and unit holders was $183.8 million, or $0.44 per FFO share and unit, for the third quarter of 2024, compared to $171.0 million, or $0.41 per FFO share and unit, for the third quarter of 2023. Adjusted FFO attributable to common share and unit holders was $159.7 million, or $0.38 per FFO share and unit, for the third quarter of 2024, compared to $146.2 million, or $0.35 per FFO share and unit, for the third quarter of 2023. These improvements were primarily attributable to increases in rents and other single-family property revenues as a result of higher rental rates exceeding increases in expenses.

Year-to-Date 2024 Financial Results

Net income attributable to common shareholders totaled $275.3 million, or $0.75 per diluted share, for the nine-month period ended September 30, 2024, compared to $289.6 million, or $0.80 per diluted share, for the nine-month period ended September 30, 2023. The decrease was primarily due to lower net gains on property sales as well as a $6.3 million loss on early extinguishment of debt and $3.9 million of hurricane-related charges, net in the nine-month period ended September 30, 2024, partially offset by increases in rents and other single-family property revenues exceeding increases in total expenses excluding hurricane-related charges, net.

Rents and other single-family property revenues increased 6.4% to $1.3 billion for the nine-month period ended September 30, 2024, compared to $1.2 billion for the nine-month period ended September 30, 2023. Revenue growth was primarily driven by higher rental rates.

Core NOI from our total portfolio increased 8.0% to $722.7 million for the nine-month period ended September 30, 2024, compared to $669.2 million for the nine-month period ended September 30, 2023. This growth was driven by a 6.9% increase in core revenues resulting primarily from higher rental rates, partially offset by a 4.8% increase in core property operating expenses.

For the Company's Same-Home portfolio, core revenues increased 5.2% to $1.0 billion for the nine-month period ended September 30, 2024, compared to $950.8 million for the nine-month period ended September 30, 2023, which was driven by a 5.6% increase in Average Monthly Realized Rent per property as well as higher fees and lower uncollectible rents, partially offset by a 60 basis point decrease in Average Occupied Days Percentage. Core property operating expenses from Same-Home properties increased 4.3% to $347.7 million for the nine-month period ended September 30, 2024, compared to $333.4 million for the nine-month period ended September 30, 2023, primarily driven by annual increases in property tax expense. As a result, Core NOI from Same-Home properties increased 5.7% to $652.5 million for the nine-month period ended September 30, 2024, compared to $617.4 million for the nine-month period ended September 30, 2023.

Core FFO attributable to common share and unit holders was $551.8 million, or $1.32 per FFO share and unit, for the nine-month period ended September 30, 2024, compared to $509.9 million, or $1.23 per FFO share and unit, for the nine-month period ended September 30, 2023. Adjusted FFO attributable to common share and unit holders was $490.4 million, or $1.17 per FFO share and unit, for the nine-month period ended September 30, 2024, compared to $448.5 million, or $1.08 per FFO share and unit, for the nine-month period ended September 30, 2023. These improvements were primarily attributable to increases in rents and other single-family property revenues as a result of higher rental rates exceeding increases in expenses.

Portfolio

Average Occupied Days Percentage was 95.1% for the third quarter of 2024, compared to 95.8% for the second quarter of 2024.

Investments

As of September 30, 2024, the Company's total single-family properties, excluding properties held for sale, consisted of 58,899 homes, compared to 58,860 homes as of June 30, 2024, an increase of 39 homes during the third quarter of 2024, which included 640 newly constructed homes delivered to our operating portfolio through our AMH Development Program and 16 homes acquired through our traditional acquisition channel, partially offset by 617 homes identified for sale. During the third quarter of 2024, we also developed an additional 113 newly constructed homes which were delivered to our unconsolidated joint ventures, aggregating to 753 total home deliveries through our AMH Development Program. As of September 30, 2024, the Company had 1,003 properties held for sale and 3,271 properties held in unconsolidated joint ventures.

Capital Activities, Balance Sheet and Liquidity

During the third quarter of 2024, the Company paid off the outstanding principal on the AMH 2014-SFR3 asset-backed securitization of approximately $471.8 million.

During the third quarter of 2024, the Company entered into a new credit agreement with a $1.25 billion sustainability-linked revolving credit facility, replacing its previous $1.25 billion revolving credit facility. The interest rate on the new revolving credit facility is at either a daily or Term Secured Overnight Financing Rate ("SOFR") plus a 0.10% spread adjustment and a margin ranging from 0.725% to 1.40% or a base rate (determined according to the greater of a prime rate, federal funds rate plus 0.5% or the daily SOFR plus 1.10%) plus a margin ranging from 0.00% to 0.40%. In each case, the actual margin is determined based on the Company's credit ratings in effect from time to time. The new revolving credit facility matures on July 16, 2028, with two six-month extension options at the Company's election if certain conditions are met.

As of September 30, 2024, the Company had cash and cash equivalents of $162.5 million and had total outstanding debt of $4.6 billion, excluding unamortized discounts and unamortized deferred financing costs, with a weighted-average interest rate of 4.3% and a weighted-average term to maturity of 12.5 years. The Company had no outstanding borrowings on its $1.25 billion revolving credit facility and had estimated net proceeds of $109.5 million available from future settlement under its At-the-Market Program forward sale agreements at the end of the quarter. During the third quarter of 2024, the Company generated $50.6 million of Retained Cash Flow (defined below) and sold 256 properties generating $81.0 million of net proceeds.

In October 2024, the Company issued and physically settled 2,987,024 Class A common shares under its At-the-Market Program forward sale agreements, receiving net proceeds of $109.8 million. The Company intends to use these net proceeds to repay indebtedness under its revolving credit facility it may incur and for general corporate purposes.

Hurricane Beryl, Debby, Helene and Milton Update

During the third quarter of 2024, Hurricanes Beryl, Debby and Helene impacted certain properties in our Texas, Florida, Georgia and Carolinas markets for minor repair and remediation costs that were not subject to the Company's property and casualty insurance policies. The Company recorded a $3.9 million hurricane-related charge which has been excluded from Core FFO attributable to common share and unit holders, Adjusted FFO attributable to common share and unit holders and our total and Same-Home Core NOI results.

In October 2024, Hurricane Milton impacted certain properties in our Florida market for minor repair and remediation costs that were not subject to the Company's property and casualty insurance policies. The Company is still assessing damages but preliminarily we expect to record a hurricane-related charge in the range of $3 million to $4 million in the fourth quarter of 2024.

2024 Guidance

Set forth below are the Company's current expectations with respect to full year 2024 Core FFO attributable to common share and unit holders and our underlying assumptions. In reliance on the exception provided by applicable SEC rules, the Company does not provide guidance for GAAP net income, the most comparable GAAP financial measure, or a reconciliation of 2024 Core FFO guidance to GAAP net income because we are unable to reasonably predict the following items which are included in GAAP net income: (i) gain on sale and impairment of single-family properties and other, net for consolidated properties and unconsolidated joint ventures, (ii) acquisition and other transaction costs and (iii) hurricane-related charges, net. The actual amounts for any and all of these items could significantly impact our 2024 GAAP net income and, as disclosed in our historical financial results, have significantly impacted GAAP net income in prior periods.

Guidance Summary

Changes to Full Year 2024 guidance:

• Raised Core FFO guidance midpoint by $0.01 per share primarily related to increased Core NOI growth from the Same-Home portfolio driven by both better than expected property tax expense outlook and cost controls on controllable expenses.
• Revised Wholly owned acquisitions guidance includes bulk portfolio acquired during the fourth quarter as well as a small volume of individual property acquisitions.

Additional Information

A copy of the Company's Third Quarter 2024 Earnings Release and Supplemental Information Package and this press release are available on our website at www.amh.com, under "Investor relations." This information has also been furnished to the SEC in a current report on Form 8-K.

Conference Call

A conference call is scheduled on Wednesday, October 30, 2024 at 12:00 p.m. Eastern Time to discuss the Company's financial results for the quarter ended September 30, 2024 and to provide an update on its business. The domestic dial-in number is (877) 451-6152 (U.S. and Canada) and the international dial-in number is (201) 389-0879 (passcode not required). A simultaneous audio webcast may be accessed by using the link at www.amh.com, under "Investor relations." A replay of the conference call may be accessed through Wednesday, November 13, 2024 by calling (844) 512-2921 (U.S. and Canada) or (412) 317-6671 (international), replay passcode number 13748660#, or by using the link at www.amh.com, under "Investor relations."

About AMH

AMH (NYSE: AMH) is a leading large-scale integrated owner, operator and developer of single-family rental homes. We're an internally managed Maryland real estate investment trust (REIT) focused on acquiring, developing, renovating, leasing and managing homes as rental properties. Our goal is to simplify the experience of leasing a home and deliver peace of mind to households across the country.

In recent years, we've been named one of Fortune's 2023 Best Workplaces in Real Estate, a 2024 Great Place to Work®, a 2024 Most Loved Workplace®, a 2024 Top U.S. Homebuilder by Builder100, and one of America's Most Responsible Companies 2024 and Most Trustworthy Companies in America 2024 by Newsweek and Statista Inc. As of September 30, 2024, we owned nearly 60,000 single-family properties in the Southeast, Midwest, Southwest and Mountain West regions of the United States. Additional information about AMH is available on our website at www.amh.com.

AMH refers to one or more of American Homes 4 Rent, American Homes 4 Rent, L.P. and their subsidiaries and joint ventures. In certain states, we operate under AMH Living or American Homes 4 Rent. Please see www.amh.com/dba to learn more.

Cautionary Note Regarding Forward-Looking Statements

This press release and the accompanying Supplemental Information Package contain "forward-looking statements." These forward-looking statements relate to beliefs, expectations or intentions and similar statements concerning matters that are not of historical fact and are generally accompanied by words such as "estimate," "project," "predict," "believe," "expect," "anticipate," "intend," "potential," "plan," "goal," "outlook," "guidance" or other words that convey the uncertainty of future events or outcomes. Examples of forward-looking statements contained in this press release and the Supplemental Information Package include, among others, our 2024 Guidance, our belief that our acquisition and homebuilding programs will result in continued growth and the estimated timing of our development deliveries set forth in the Supplemental Information Package. The Company has based these forward-looking statements on its current expectations and assumptions about future events. While the Company's management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company's control and could cause actual results to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update any forward-looking statements to conform to actual results or changes in its expectations, unless required by applicable law. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company in general, see the "Risk Factors" disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and in the Company's subsequent filings with the SEC.

Defined Terms

Average Monthly Realized RentFor the related period, Average Monthly Realized Rent is calculated as the lease component of rents and other single-family property revenues (i.e., rents from single-family properties) divided by the product of (a) number of properties and (b) Average Occupied Days Percentage, divided by the number of months. For properties partially owned during the period, this calculation is adjusted to reflect the number of days of ownership.

Average Occupied Days PercentageThe number of days a property is occupied in the period divided by the total number of days the property is owned during the same period after initially being placed in-service. This calculation excludes properties classified as held for sale.

Occupied PropertyA property is classified as occupied upon commencement (i.e., start date) of a lease agreement, which can occur contemporaneously with or subsequent to execution (i.e., signature).

Recurring Capital ExpendituresFor our Same-Home portfolio, Recurring Capital Expenditures includes replacement costs and other capital expenditures recorded during the period that are necessary to help preserve the value and maintain functionality of our properties. For our total portfolio, we calculate Recurring Capital Expenditures by multiplying (a) current period actual Recurring Capital Expenditures per Same-Home property by (b) our total number of properties, excluding newly acquired non-stabilized properties and properties classified as held for sale.

Same-Home PropertyA property is classified as Same-Home if it has been stabilized longer than 90 days prior to the beginning of the earliest period presented under comparison. A property is removed from Same-Home if it has been classified as held for sale or has experienced a casualty loss.

Stabilized PropertyA property acquired individually (i.e., not through a bulk purchase) is classified as stabilized once it has been renovated by the Company or newly constructed and then initially leased or available for rent for a period greater than 90 days. Properties acquired through a bulk purchase are first considered non-stabilized, as an entire group, until (1) we have owned them for an adequate period of time to allow for complete on-boarding to our operating platform, and (2) a substantial portion of the properties have experienced tenant turnover at least once under our ownership, providing the opportunity for renovations and improvements to meet our property standards. After such time has passed, properties acquired through a bulk purchase are then evaluated on an individual property basis under our standard stabilization criteria.

Non-GAAP Financial Measures

This press release and the Third Quarter 2024 Earnings Release and Supplemental Information Package include Funds from Operations attributable to common share and unit holders ("FFO attributable to common share and unit holders"), Core FFO attributable to common share and unit holders, Adjusted FFO attributable to common share and unit holders, Retained Cash Flow, Core NOI and Same-Home Core NOI, which are non-GAAP financial measures. We believe these measures are helpful in understanding our financial performance and are widely used in the REIT industry. Because other REITs may not compute these financial measures in the same manner, they may not be comparable among REITs. In addition, these metrics are not substitutes for net income or loss or net cash flows from operating activities, as defined by GAAP, as measures of our operating performance, liquidity or ability to pay dividends. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are included in this press release and in the Third Quarter 2024 Earnings Release and Supplemental Information Package.

Funds from Operations attributable to common share and unit holders and Retained Cash Flow

FFO attributable to common share and unit holders is a non-GAAP financial measure that we calculate in accordance with the definition approved by the National Association of Real Estate Investment Trusts, which defines FFO as net income or loss calculated in accordance with GAAP, excluding gains and losses from sales or impairment of real estate, plus real estate-related depreciation and amortization (excluding amortization of deferred financing costs and depreciation of non-real estate assets), and after adjustments for unconsolidated partnerships and joint ventures to reflect FFO on the same basis.

Core FFO attributable to common share and unit holders is a non-GAAP financial measure that we use as a supplemental measure of our performance. We compute this metric by adjusting FFO attributable to common share and unit holders for (1) acquisition and other transaction costs incurred with business combinations and the acquisition or disposition of properties as well as nonrecurring items unrelated to ongoing operations, (2) noncash share-based compensation expense, (3) hurricane-related charges, net, which result in material charges to our single-family property portfolio, (4) gain or loss on early extinguishment of debt and (5) the allocation of income to our perpetual preferred shares in connection with their redemption. 

Adjusted FFO attributable to common share and unit holders is a non-GAAP financial measure that we use as a supplemental measure of our performance. We compute this metric by adjusting Core FFO attributable to common share and unit holders for (1) Recurring Capital Expenditures that are necessary to help preserve the value and maintain functionality of our properties and (2) capitalized leasing costs incurred during the period. As a portion of our homes are recently developed, acquired and/or renovated, we estimate Recurring Capital Expenditures for our entire portfolio by multiplying (a) current period actual Recurring Capital Expenditures per Same-Home Property by (b) our total number of properties, excluding newly acquired non-stabilized properties and properties classified as held for sale.

We present FFO attributable to common share and unit holders, as well as on a per FFO share and unit basis, because we consider this metric to be an important measure of the performance of real estate companies, as do many investors and analysts in evaluating the Company. We believe that FFO attributable to common share and unit holders provides useful information to investors because this metric excludes depreciation, which is included in computing net income and assumes the value of real estate diminishes predictably over time. We believe that real estate values fluctuate due to market conditions and in response to inflation. We also believe that Core FFO and Adjusted FFO attributable to common share and unit holders, as well as on a per FFO share and unit basis, provide useful information to investors because they allow investors to compare our operating performance to prior reporting periods without the effect of certain items that, by nature, are not comparable from period to period.

FFO shares and units include weighted-average common shares and operating partnership units outstanding, as well as potentially dilutive securities.

Retained Cash Flow is a non-GAAP financial measure that we believe is helpful as a supplemental measure in assessing the Company's liquidity. This metric is computed by reducing Adjusted FFO attributable to common share and unit holders by common distributions.

FFO, Core FFO and Adjusted FFO attributable to common share and unit holders and Retained Cash Flow are not substitutes for net income or net cash provided by operating activities, each as determined in accordance with GAAP, as a measure of our operating performance, liquidity or ability to pay dividends. These metrics also are not necessarily indicative of cash available to fund future cash needs. Because other REITs may not compute these measures in the same manner, they may not be comparable among REITs.

The following is a reconciliation of net income or loss attributable to common shareholders to FFO attributable to common share and unit holders, Core FFO attributable to common share and unit holders, Adjusted FFO attributable to common share and unit holders and Retained Cash Flow for the three and nine months ended September 30, 2024 and 2023 (amounts in thousands, except share and per share data):