Airport Trade Center at 3108 NW 72nd Avenue (Google Maps)
Blackstone’s $56 million purchase of an industrial property near Miami International Airport closed nearly two years ago, but the legal fight among the sellers is still brewing.
Samuel Friedman alleges that he was shortchanged more than $5.1 million by the other three sellers of Airport Trade Center – Haim Yehezkel, Roy Mussaffi and Joseph Cohen. The funds were tied to brokerage commissions, a promised property management fee and his cut of the deal proceeds, he alleges in the suit filed in Miami-Dade Circuit Court last month
Friedman sued Yehezkel, Mussaffi, Cohen and the four investors’ Airport Trade Center LLC, their entity that owned the 14-acre property at 3208 and 3108 Northwest 72nd Avenue.
EastGroup Properties Announces Fourth Quarter and Year 2020 Results
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Fourth Quarter 2020 Results
Net Income Attributable to Common Stockholders of $0.94 Per Diluted Share for Fourth Quarter 2020 Compared to $1.28 Per Diluted Share for Fourth Quarter 2019 (Gains on Sales of Real Estate Investments Were $13 Million, or $0.33 Per Diluted Share, for Fourth Quarter 2020, and $30 Million, or $0.77 Per Diluted Share, for Fourth Quarter 2019)
Funds from Operations of $1.38 Per Share for Fourth Quarter 2020 Compared to $1.27 Per Share for Fourth Quarter 2019, an Increase of 8.7%
Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations for Fourth Quarter 2020 Increased 2.2% on a Cash Basis and 2.0% on a Straight-Line Basis Compared to Fourth Quarter 2019
Jeffsetter Travel
To help balance the state budget and provide funds to combat the effects of climate change, the Hawaii Legislature proposes a new car rental fee. This fee, should it pass, would be in addition to the two existing fees.
Currently, Hawaii has among the highest rental car fees in the nation. Right now, anyone that rents a car here must pay a $4.50 per day vehicle customer facility charge plus a $5 per day rental motor vehicle surcharge. But, as Hawaii’s legislature eyes ways to “balance tourism” and raise funds to offset climate change, they’re looking at new fees and taxes to do so.