News Article | February 24, 2017
WELLINGTON, Fla.--(BUSINESS WIRE)--B/E Aerospace, Inc. (the “Company”) (NASDAQ: BEAV), the world’s leading manufacturer of aircraft cabin interior products, today announced that its Board of Directors declared a quarterly dividend of $0.21 per outstanding share of the Company’s common stock. The dividend is payable on March 24, 2017 to shareholders of record at the close of business on March 6, 2017. About B/E Aerospace, Inc. B/E Aerospace is the world’s leading manufacturer of aircraft cabin interior products. B/E Aerospace designs, develops and manufactures a broad range of products for both commercial aircraft and business jets. B/E Aerospace manufactured products include aircraft cabin seating, lighting systems, oxygen systems, food and beverage preparation and storage equipment, galley systems, and modular lavatory systems. B/E Aerospace also provides cabin interior reconfiguration, program management and certification services. B/E Aerospace sells and supports its products through its own global direct sales and product support organization. For more information, visit the B/E Aerospace website at www.beaerospace.com. This communication is for informational purposes only and not intended to and does not constitute an offer to subscribe for, buy or sell, the solicitation of an offer to subscribe for, buy or sell or an invitation to subscribe for, buy or sell any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law. Additional Information and Where to Find It The proposed transaction involving Rockwell Collins and B/E Aerospace is being submitted to the respective stockholders of Rockwell Collins and B/E Aerospace for their consideration. In connection with the proposed transaction, Rockwell Collins filed a registration statement on Form S-4 that included a joint proxy statement/prospectus for the stockholders of Rockwell Collins and B/E Aerospace with the SEC. The registration statement was declared effective by the SEC on February 3, 2017, and a definitive joint proxy statement/prospectus has been filed with the SEC on February 3, 2017. Each of Rockwell Collins and B/E Aerospace are mailing the definitive joint proxy statement/prospectus to their respective stockholders and, may file other documents regarding the transaction with the SEC. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS, ANY AMENDMENTS OR SUPPLEMENTS TO THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS, AND OTHER DOCUMENTS FILED BY ROCKWELL COLLINS OR B/E AEROSPACE WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION, BECAUSE THESE DOCUMENTS CONTAIN IMPORTANT INFORMATION. Investors and security holders are able to obtain free copies of the definitive joint proxy statement/prospectus and other documents filed with the SEC by Rockwell Collins and/or B/E Aerospace through the website maintained by the SEC at www.sec.gov. Investors and security holders are also able to obtain free copies of the documents filed by Rockwell Collins with the SEC on Rockwell Collins’ internet website at http://www.rockwellcollins.com or by contacting Rockwell Collins’ Investor Relations at Rockwell Collins, 400 Collins Rd. NE, Cedar Rapids, IA 52498 or by calling (319) 295-7575. Investors and security holders are also able to obtain free copies of the documents filed by B/E Aerospace with the SEC on B/E Aerospace’s internet website at http://www.beaerospace.com or by contacting B/E Aerospace’s Investor Relations at B/E Aerospace, Inc., 1400 Corporate Center Way, Wellington, FL or by calling (561) 791-5000. Rockwell Collins, B/E Aerospace and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of proxies in connection with the proposed transaction, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in the definitive joint proxy statement/prospectus filed with the SEC.
News Article | February 23, 2017
DALLAS--(BUSINESS WIRE)--The Howard Hughes Corporation ® (NYSE:HHC) (the “Company”) announced operating results for the fourth quarter ended December 31, 2016. The attached financial statements, exhibits and reconciliations of non-GAAP measures provide the details of these results. “In the fourth quarter, The Howard Hughes Corporation showed significant progress across our three business segments as we saw significant growth with increased Operating Asset NOI, increased MPC residential land sales and meaningful progress in our strategic developments with the delivery of our first residential building in Ward Village, Waiea,” said David R. Weinreb, Chief Executive Officer. “We are creating value across our portfolio every day, as we continue to transform our strategic developments into revenue generating assets, converting our assets into a predominantly revenue-generating portfolio. Additionally, I am pleased with our capital recycling activity, both during and subsequent to the quarter, with the sale of non-core assets and acquisitions that complement our holdings in Downtown Columbia. Further, we are pleased with our conservative financial position with a cash balance of over $665 million, which is well in excess of our unfunded development commitments.” As we complete and place our developments into service, non-cash depreciation and amortization expense associated with these cash-generative commercial real estate properties has become a material component of our net income. Adjusted net income is a non-GAAP measure that excludes depreciation and amortization expense, provision for impairment, non-cash warrant liability gains and losses, gain on acquisition of our joint venture partner’s interest and gains or losses on sales of operating properties. For additional information, please see the reconciliation of Adjusted net income to Net Income (loss) attributable to common stockholders in the Supplemental Information in this earnings release. Net operating income (“NOI”) from our income-producing Operating Assets is presented in our Supplemental Information to this earnings release. For a reconciliation of Operating Assets NOI to Operating Assets earnings before taxes (“EBT”), Operating Assets EBT to GAAP-basis net income (loss) and Adjusted net income to Net income, please refer to the Supplemental Information contained in this earnings release. We calculate Adjusted Operating Assets EBT, which excludes depreciation and amortization and development-related demolition, marketing costs and provision for impairment, as they do not represent operating costs for stabilized real estate properties. Operating assets EBT increased $8.4 million to $5.8 million, compared to ($2.6) million for the fourth quarter 2015. The increase in NOI from income-producing Operating Assets in the fourth quarter 2016 compared to the fourth quarter 2015 is primarily driven by the continued stabilization of our recently developed and placed in service office properties and our two recently opened hotels in The Woodlands. The increase in NOI from income-producing Operating Assets in the year ended December 31, 2016, compared to the same period in the prior year is primarily due to Downtown Summerlin and the openings of the ONE Summerlin office building and two multi-family properties in The Woodlands in 2015. Generally, MPC revenues fluctuate during the year; therefore, a better measurement of performance is the full year impact instead of quarterly results. A Summary of our MPC segment is shown below. For additional detail, please refer to the Supplemental Information section of this release. Residential land sales closed in our MPC segment for the three months ended December 31, 2016, increased $9.6 million or 24.4% to $49.0 million, compared to $39.4 million for the same period in 2015 primarily due to increased sales velocity at The Woodlands and Bridgeland MPCs, offset by fewer sales at our Summerlin MPC. Residential land sales closed in our MPC segment for the year ended December 31, 2016, increased $5.3 million or 3.4% to $163.1 million compared to $157.8 million for the same period in 2015. Land sales revenue of $215.3 million recognized for the year ended December 31, 2016, included $33.4 million in revenue from closings in prior periods which was previously deferred and that met criteria for recognition in the current year. Land development in the fourth quarter 2016 at The Summit, our joint venture with Discovery Land in our Summerlin MPC, continued on schedule based upon the initial plan. For the three months ended December 31, 2016, 22 custom residential lots had closed resulting in the recognition of $20.9 million Equity in earnings in Real Estate and Other Affiliates. As of December 31, 2016, contracted sales since inception are $226.4 million of which $184.9 million had closed. We have condominiums for sale in Ward Village across five condominium projects, four of which are under construction: Waiea, Anaha, Ae`o, and Ke Kilohana. These four projects have a total unit count of 1,381, of which 1,109 were under contract as of December 31, 2016, leaving the total number of unsold units under construction at 272. The increase in condominium rights and unit sales for the quarter and year ended December 31, 2016, as compared to the same periods in 2015 is primarily related to revenue recognition at our Anaha condominium project for which we began recognizing revenue in the second quarter 2015. As condominium projects advance towards completion, revenue is recognized on qualifying sales contracts under the percentage of completion method of accounting. All development cost estimates presented herein are exclusive of land costs. For a more complete description of the status of our developments, please refer to “Item 7. - Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-K for the year ended December 31, 2016. Balance Sheet and Other Quarterly Activity As of December 31, 2016, our debt equaled approximately 42.3% of our total assets and 36.8% of our total market capitalization. We finished the year with approximately $665.5 million of cash on hand. This balance is higher than in previous periods as a result of end of year cash inflows relating to proceeds from our sale of our non-core Park West asset; a distribution of cash from our joint venture in Summerlin, The Summit; and to proceeds from closings of condominium units at Waiea in our Ward Village urban master planned community. We have focused almost exclusively on obtaining non-recourse* debt for both our construction financing and long-term fixed rate mortgage financing and have limited cross-collateralization across the portfolio. Our low-leverage, with a focus on project specific financing, insulates us against potential downturns and provides us with the ability to evaluate new opportunities. During the quarter, we completed a $142.7 million partial recourse construction loan for Ke Kilohana and a $230.0 million non-recourse construction loan for Ae`o, both initially maturing in December 2019. We also amended and restated our financing for The Woodlands Resort & Conference Center with a $70.0 million mortgage and modified our construction financing for Hughes Landing Retail to $35.0 million with an extended initial maturity date of December 2036 (previously December 2018). Subsequent to quarter end in January 2017, we closed on a non-recourse financing totaling $25.0 million at 4.48% interest, replacing the $23.0 million construction loan on the Columbia Regional Building. We also amended and restated our $80.0 million non-recourse mortgage financing for the 10-60 Columbia Corporate Center office buildings with a $94.5 million loan at LIBOR plus 1.75% with an initial maturity May 2020 maturity date. This amendment also provided $14.5 million to purchase One Mall North, a 97,500 square foot office building in Columbia, Maryland. *Non-recourse debt means that the debt is non-recourse to The Howard Hughes Corporation but is collateralized by a real estate asset and/or is recourse to the subsidiary entity owning such asset. The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Our properties include master planned communities, operating properties, development opportunities and other unique assets spanning 14 states from New York to Hawai‘i. The Howard Hughes Corporation is traded on the New York Stock Exchange under HHC with major offices in New York, Columbia, MD, Dallas, Houston, Las Vegas and Honolulu. For additional information about HHC, visit www.howardhughes.com or find us on Facebook, Twitter, Instagram, and LinkedIn. Statements made in this press release that are not historical facts, including statements accompanied by words such as “will,” “believe,” “expect,” “enables,” “realize”, “plan,” “intend,” “assume,” “transform” and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, estimates, assumptions, and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in The Howard Hughes Corporation’s filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. The Howard Hughes Corporation cautions you not to place undue reliance on the forward-looking statements contained in this release. The Howard Hughes Corporation does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Because our three segments, Master Planned Communities, Operating Assets and Strategic Developments, are managed separately, we use different operating measures to assess operating results and allocate resources among these three segments. The one common operating measure used to assess operating results for our business segments is earnings before taxes (“EBT”). EBT, as it relates to each business segment, represents the revenues less expenses of each segment, including interest income, interest expense and equity in earnings of real estate and other affiliates. EBT excludes corporate expenses and other items that are not allocable to the segments. We present EBT because we use this measure, among others, internally to assess the core operating performance of our assets. However, EBT should not be considered as an alternative to GAAP net income. We also adjust GAAP net income (loss) for non-cash warrant liability gains and losses, and depreciation and amortization. The presentation of Adjusted net income is consistent with other companies in the real estate business who also typically report an earnings measure that excludes depreciation and amortization and other non-operating related items. When a development property is placed in service, depreciation is calculated for the property ratably over the estimated useful lives of each of its components; however, most of our recently developed properties do not reach stabilization until 12 to 36 months after being placed in service due to the timing of tenants taking occupancy and subsequent leasing of remaining unoccupied space during that period. As a result, operating income, earnings before taxes (EBT) and net income will not reflect the ongoing earnings potential of newly placed in service operating assets during this transition period to stabilization. Accordingly, we calculate Adjusted Operating Assets EBT, which excludes depreciation and amortization and development-related demolition and marketing costs and provision for impairment, as they do not represent operating costs for stabilized real estate properties. The following table summarizes our net debt on a segment basis as of December 31, 2016. Net debt is defined as mortgages, notes and loans payable, including our ownership share of debt of our Real Estate and Other Affiliates, reduced by short-term liquidity sources to satisfy such obligations such as our ownership share of cash and cash equivalents and SID and MUD receivables. Although net debt is not a recognized GAAP financial measure, it is readily computable from existing GAAP information and we believe, as with our other non-GAAP measures, that such information is useful to our investors and other users of our financial statements. (a) Excludes revenues closed and deferred for recognition in a previous period that met criteria for recognition in the current period. The following table reconciles Total residential and commercial land sales closed for the quarters ended December 31, 2016 and 2015, respectively, to Total land sales revenue – GAAP basis for the MPC segment for the quarters ended December 31, 2016 and 2015, respectively. Total net recognized (deferred) revenue represents revenues on sales closed in prior periods where revenue was previously deferred and met criteria for recognition in the current periods, offset by revenues deferred on sales closed in the current period. (a) Excludes revenues closed and deferred for recognition in a previous period that met criteria for recognition in the current period. The following table reconciles Total residential and commercial land sales closed for the years ended December 31, 2016 and 2015, respectively, to Total land sales revenue – GAAP basis for the MPC segment for the years ended December 31, 2016 and 2015, respectively. Total net recognized (deferred) revenue represents revenues on sales closed in prior periods where revenue was previously deferred and met criteria for recognition in the current periods, offset by revenues deferred on sales closed in the current period. We believe that NOI is a useful supplemental measure of the performance of our Operating Assets because it provides a performance measure that, when compared year-over-year, reflects the revenues and expenses directly associated with owning and operating real estate properties and the impact on operations from trends in occupancy rates, rental rates, and operating costs. We define NOI as revenues (rental income, tenant recoveries and other income) less expenses (real estate taxes, repairs and maintenance, marketing and other property expenses). NOI also excludes straight-line rents and tenant incentives amortization, net interest expense, ground rent amortization, demolition costs, amortization, depreciation, development-related marketing costs and equity in earnings from Real Estate and Other Affiliates. We use NOI to evaluate our operating performance on a property-by-property basis because NOI allows us to evaluate the impact that factors such as lease structure, lease rates and tenant base, which vary by property, have on our operating results, gross margins and investment returns. Although we believe that NOI provides useful information to the investors about the performance of our Operating Assets, due to the exclusions noted above, NOI should only be used as an alternative measure of the financial performance of such assets and not as an alternative to GAAP net income.
News Article | February 27, 2017
More than 35,000 square feet in new lease commitments and an expansion by an existing tenant signify notable progress for Highpoint Corporate Center in Fairfield, announced Colliers International Group Inc.
News Article | November 10, 2016
Adding to its growing Arizona portfolio, San Diego-based Parallel Capital Partners announced today it has acquired Kierland Corporate Center – a Class A office complex at 7033 E.
News Article | February 20, 2017
UBS Group AG (SIX:UBSG) (NYSE:UBS) (SWX:UBSN) / ISIN: CH0024899483 and Northern Trust Corporation (Nasdaq:NTRS) announce that UBS AG has entered into an agreement for Northern Trust to acquire UBS Asset Management's fund administration servicing units in Luxembourg and Switzerland. The acquisition will enable Northern Trust to expand its presence in Luxembourg and gain local fund administration capabilities in Switzerland, becoming a leading administrator by assets in the market. The transaction is expected to close in the second half of 2017, subject to applicable regulatory and fund board approvals and other customary closing conditions. Upon completion of the transaction, Northern Trust will become the fund administration services provider for funds with approximately CHF420 billion (US$413bn) in assets1, including UBS Asset Management's traditional funds currently serviced by UBS Fund Management (Switzerland) AG or UBS Fund Services (Luxembourg) S.A. UBS clients will continue to be supported by their current relationship management teams following the transaction and UBS Asset Management will continue to offer Management Company, White Labelling and Representative Services to its clients. “This agreement represents a significant opportunity for Northern Trust and our clients as we broaden our scale, products and market reach across Europe,” Northern Trust Corporation Chairman and Chief Executive Officer Frederick H. Waddell said. “We look forward to expanding our service offering in Switzerland and further deepening our presence in Luxembourg.” Ulrich Koerner, President UBS Asset Management, said: “We continue to drive the transformation of our platform to further increase efficiency and effectiveness. This move will enable us to further focus our efforts on helping clients address their global investment challenges, while ensuring their fund administration needs continue to be well served. "We believe the transaction and ongoing collaboration with Northern Trust is a compelling proposition for our clients, who will benefit from the combined resources and capabilities of UBS Asset Management and Northern Trust, along with our mutual commitment to innovation and an industry-leading platform," he added. Northern Trust has operated in Luxembourg since 2004, and the transaction will make Northern Trust a top 10 asset servicing provider in terms of assets under administration. UBS Fund Management (Switzerland) AG, based in Basel, is the Swiss market leader in Management Company and White Labelling Services. Northern Trust will integrate the Swiss fund administration unit into its Global Fund Services business. The transaction will complement Northern Trust’s significant existing Swiss client base, which reflects more than 30 years of experience providing a range of investment management and asset servicing solutions to Swiss clients. “The strong client franchise, together with the geographic footprint of the business in Luxembourg and Switzerland, make this an excellent strategic fit for our growing business in the region,” Toby Glaysher, head of Northern Trust Global Fund Services, International, said. “Like Northern Trust, UBS Asset Management is committed to excellence, innovation and superior client service. These shared values will enable us to continue to differentiate ourselves with our clients, strengthen our position as a leader in these markets and position us for long-term global growth.” Goldman Sachs International served as financial advisor to Northern Trust on the transaction. Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 22 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2016, Northern Trust had assets under custody of US$6.7 trillion, and assets under management of US$942 billion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit www.northerntrust.com or follow us on Twitter @NorthernTrust. ©2017 Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/disclosures UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. The operational structure of the Group is comprised of our Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. UBS's strategy builds on the strengths of all of its businesses and focuses its efforts on areas in which it excels, while seeking to capitalize on the compelling growth prospects in the businesses and regions in which it operates, in order to generate attractive and sustainable returns for its shareholders. All of its businesses are capital-efficient and benefit from a strong competitive position in their targeted markets. Asset Management is a large-scale asset manager with a presence in 22 countries. It offers investment capabilities and investment styles across all major traditional and alternative asset classes to institutions, wholesale intermediaries and wealth management clients around the world. It is a leading fund house in Europe, the largest mutual fund manager in Switzerland, the third-largest international asset manager in Asia, the second largest fund of hedge funds manager and one of the largest real estate investment managers in the world. UBS Fund Management Services is the competence center for all Management Companies and White Labelling Solutions within UBS Asset Management focusing on Fiduciary and Governance and Substance Services via its market leading Management Companies in Luxembourg and Switzerland. This release includes forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) concerning an agreement entered into by Northern Trust to acquire UBS Asset Management’s fund administration servicing business in Luxembourg and Switzerland, including certain statements related to future results and intentions, and expectations regarding the impact of such acquisition on Northern Trust and UBS. The statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: the ability of Northern Trust and UBS to obtain required regulatory and fund board approvals and satisfy closing conditions; applicable market and industry conditions; Northern Trust’s ability to integrate the acquired business successfully and realize the benefits of the acquisition; actions of regulatory bodies and other governmental authorities; changes in laws and regulations; and other risks identified in Northern Trust’s most recent filing on Form 10-K and other SEC filings, or UBS's most recent filings on Form 6-K or Form 20-F, all of which are available on Northern Trust's and UBS's websites. Northern Trust and UBS do not undertake to update their forward-looking statements.
News Article | February 27, 2017
RYE, N.Y.--(BUSINESS WIRE)--Gabelli & Company will host its 11th Annual Omaha Research Trip in conjunction with the Berkshire Hathaway Annual Meeting on May 5-6, 2017. We will host group management meetings on Friday afternoon, May 5, led by members of our research team including Jose Garza & Mac Sykes. We also plan to attend the Berkshire Hathaway (NYSE: BRK.A, NYSE: BRK.B) Annual Meeting on Saturday, May 6 at the CenturyLink Center Omaha. Institutional investors should contact their sales representative for additional information or to register. G.research, LLC, an institutional research and brokerage firm, is a subsidiary of Associated Capital Group, Inc. (NYSE:AC). Gabelli & Company is the marketing name for the registered broker dealer G.research, LLC. G.research, LLC, One Corporate Center Rye, NY 10580. Member of FINRA and SIPC.
News Article | December 6, 2016
NEW YORK--(BUSINESS WIRE)--Zamir Equities has successfully finalized a 44,000-square-foot, 10.5-year lease, for leading civil defense litigation law firm, Marshall Dennehey Warner Coleman & Goggin, at 15000 Midlantic Drive, Mount Laurel, New Jersey. The firm will occupy the new space as of April 1, 2017. “Signing Marshall Dennehey ranks as one of the largest and most significant lease transactions of 2016 in the southern New Jersey commercial office market, the second largest market in the United States, with 46.1 million people living within 200 miles, ” said Asher Zamir, Founder and Chairman, Zamir Equities. “Marshall Dennehey's south Jersey office is its second largest of 20, with 52 lawyers and 120 total employees. The firm anticipates continued expansion and needed to make a move to accommodate that growth. Our resilient Zamir Equities team worked closely with Marshall Dennehey to successfully complete this substantial and complex arrangement.” Located at the intersection of I-295 and Route 38 in Mount Laurel, Burlington County, New Jersey, 15000 Midlantic Drive is a two-story, 84,908-square-foot office building; part of the Laurel Corporate Center. Situated in a corporate campus setting with lush landscaping and tree-lined walking paths, Laurel Corporate Center is a ten-building complex totaling one million-square-feet of Class A office space. Both Center City Philadelphia and Princeton, NJ, are a 30-minute commute. New York City is a 90-minute drive from the New Jersey Turnpike. Additionally, NJ Transit offers service throughout the complex. At the Laurel Corporate Center, Zamir Equities owns and operates five buildings: 2000 Midlantic, 4000 Midlantic, 9000 Midlantic, 10000 Midlantic, along with 15000 Midlantic Drive. According to the Zamir Equities executive leading the transaction, Todd Techananalart, Vice President, Acquisitions and Asset Management, “This deal required a tremendous amount of base building improvements and tenant allowances only a handful of well-capitalized landlords in the market could achieve. Zamir Equities anticipated this opportunity during our acquisition of the building, and subsequently structured our initial investment capital to achieve it.” Asher Zamir added, “This Marshall Dennehey Warner Coleman & Goggin deal is just another example of how Zamir Equities works tirelessly to analyze countless market opportunities, swiftly identifies tremendous upside potentials, and with both experience and capital, implements aggressive leasing strategies, which, ultimately enhance the long-term value and return of our underlying asset.” Marshall Dennehey Warner Coleman & Goggin, founded in 1962 and headquartered in Philadelphia, PA, is a leading civil defense litigation law firm that represents and advises insurers, self-insured businesses and professionals in a wide range of professional liability, casualty, health care, employment and workers' compensation matters. With 500 attorneys in 20 offices throughout PA, NJ, DE, OH, NY & FL, Marshall Dennehey is uniquely positioned to assist clients in both avoiding litigation, as well as providing them with a vigorous defense in the event of claims and suits made against them. For more information, please visit www.marshalldennehey.com. Founded by Asher Zamir in 2003, Zamir Equities is a privately held New York City-based, integrated real estate private equity firm. Currently, Zamir Equities owns and manages cumulative properties in excess of a quarter billion dollars, and 1.4 million square feet. Recognized for their astute acquisition proficiency, along with unparalleled real estate management, leasing and marketing experience, Zamir Equities specializes in risk-adjusted market returns in both undervalued and stabilized real estate assets. Zamir Equities is headquartered in the heart of midtown Manhattan in the Fred F. French Building, a magnificent 38-story art deco building erected in 1927, and listed on the U.S. National Register of Historic Places.
News Article | February 16, 2017
RYE, N.Y.--(BUSINESS WIRE)--Gabelli & Company will host its Specialty Chemicals Conference on March 22, 2017 in New York City. This research meeting will feature presentations and one-on-one meetings with senior management of several leading specialty chemicals companies. Institutional investors should contact their salesperson for more information or to register. G.research, LLC, an institutional research and brokerage firm, is a subsidiary of Associated Capital Group, Inc. (NYSE:AC). Gabelli & Company is the marketing name for the registered broker dealer G.research, LLC. G.research, LLC, One Corporate Center Rye, NY 10580. Member of FINRA and SIPC.
News Article | February 15, 2017
RYE, N.Y.--(BUSINESS WIRE)--Gabelli & Company will host its 3rd Annual Waste & Environmental Services Symposium on March 16th, 2017 in New York City. This research meeting will feature presentations and fireside chats with senior management of several publicly traded solid waste companies. Institutional investors should contact their Gabelli & Company sales representative to register. G.research, LLC, an institutional research and brokerage firm, is a subsidiary of Associated Capital Group, Inc. (NYSE:AC). Gabelli & Company is the marketing name for the registered broker dealer G.research, LLC. G.research, LLC, One Corporate Center Rye, NY 10580. Member of FINRA and SIPC.
News Article | February 17, 2017
NEW YORK--(BUSINESS WIRE)--UBS Investment Bank today announced coupon payments for the ETRACS Alerian MLP Index ETN (NYSE Arca: “AMU”) and ETRACS Alerian MLP Index ETN Series B (NYSE Arca: “AMUB”), both traded on the NYSE Arca. * The table above provides a hyperlink to the relevant prospectus and supplements thereto for each of our ETRACS ETNs, which are identified by their names. For more information on each ETRACS ETN, see "List of ETNs". **"Current Yield (annualized)" equals the current Coupon Amount, multiplied by four (to annualize such coupon), divided by the Closing Indicative Value of the ETN on its current Coupon Valuation Date rounded to two decimal places for ease of analysis. The Current Yield is not indicative of future coupon payments, if any, on the ETN. You are not guaranteed any coupon or distribution amount under the ETN. ETRACS ETNs are senior unsecured notes issued by UBS AG, are traded on NYSE Arca, and can be bought and sold through a broker or financial advisor. An investment in ETRACS ETNs is subject to a number of risks, including the risk of loss of some or all of the investor’s principal, and is subject to the creditworthiness of UBS AG. Investors are not guaranteed any coupon or distribution amount under the ETNs. We urge you to read the more detailed explanation of risks described under “Risk Factors” in the applicable prospectus supplement, or product supplement and pricing supplement, as applicable, for the ETRACS ETN. UBS AG has filed a registration statement (including a prospectus and supplements thereto) with the Securities and Exchange Commission, or SEC, for the offerings of securities to which this communication relates. Before you invest, you should read the applicable prospectus, pricing or product supplement, dated as of various dates, and the prospectus dated April 29, 2016 to understand fully the terms of the securities and other considerations that are important in making a decision about investing in the ETRACS. The applicable offering document for each ETRACS may be obtained by clicking on the ticker symbol of each ETRACS identified above. You may also get these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. The securities related to the offerings are not deposit liabilities and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency of the United States, Switzerland or any other jurisdiction. UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. The operational structure of the Group is comprised of our Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. UBS's strategy builds on the strengths of all of its businesses and focuses its efforts on areas in which it excels, while seeking to capitalize on the compelling growth prospects in the businesses and regions in which it operates, in order to generate attractive and sustainable returns for its shareholders. All of its businesses are capital-efficient and benefit from a strong competitive position in their targeted markets. UBS is present in all major financial centers worldwide. It has offices in 54 countries, with about 34% of its employees working in the Americas, 35% in Switzerland, 18% in the rest of Europe, the Middle East and Africa and 13% in Asia Pacific. UBS Group AG employs approximately 60,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE). This material is issued by UBS AG and/or any of its subsidiaries and/or any of its affiliates ("UBS"). Products and services mentioned in this material may not be available for residents of certain jurisdictions. Past performance is not necessarily indicative of future results. Please consult the restrictions relating to the product or service in question for further information. Activities with respect to US securities are conducted through UBS Securities LLC, a US broker/dealer. Member of SIPC (http://www.sipc.org/). ETRACS ETNs are sold only in conjunction with the relevant offering materials. UBS has filed a registration statement (including a prospectus, as supplemented by the applicable prospectus supplement, or product supplement and pricing supplement, for the offering of the ETRACS ETNs) with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read these documents and any other documents that UBS has filed with the SEC for more complete information about UBS and the offering to which this communication relates. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, you can request the applicable prospectus supplement, or product supplement and pricing supplement, by calling toll-free (+1-877-387 2275). In the US, securities underwriting, trading and brokerage activities and M&A advisor activities are provided by UBS Securities LLC, a registered broker/dealer that is a wholly owned subsidiary of UBS AG, a member of the New York Stock Exchange and other principal exchanges, and a member of SIPC. UBS Financial Services Inc. is a registered broker/dealer and affiliate of UBS Securities LLC. 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