California Investor Spends $590 Million to Expand Footprint in Research Triangle Park

first_img Your email address will not be published. Required fields are marked * Subscribe Alexandria Real Estate Equities Inc., a Pasadena-based real estate investment trust that invests in office buildings and laboratories in the life science and technology industries, has acquired a large portion of the Research Triangle Park in Durham, North Carolina, said a report in the Raleigh, North Carolina-based Triangle Business Journal.The report, citing Durham County deed records, said Alexandria Real Estate closed on 253.11 acres at Parmer RTP for $590.4 million on Monday.The purchase includes seven parcels across three deed transfers with properties at 14 TW Alexander Drive, 5 Moore Drive, 41 Moore Drive, two at 1818 Ellis Road, and two at 2400 Ellis Road in Durham, the report said.The seller is Los Angeles-based Karlin Real Estate, which has been assembling land and developing the 500-acre campus for years, according to the Journal.Alexandria Real Estate already has extensive holdings in Research Triangle Park, which features an R-and-D campus with 20 buildings with tenants that include LabCorp and Credit Suisse.In April 2019, the company opened the Alexandria Center for AgTech-Research Triangle. The first phase, a 175,000 RSF (rentable-square-foot) redevelopment, opened fully-leased, with a second phase planned to open this year to offer 160,000 RSF.The Center sits on the former site of Syngenta on the 5 Laboratory Drive campus, which Alexandria acquired in 2017 for $8.75 million. Community News Community News faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Darrel Done BusinessVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Herbeauty9 Of The Best Metabolism-Boosting Foods For Weight LossHerbeautyHerbeautyHerbeautyIs It Bad To Give Your Boyfriend An Ultimatum?HerbeautyHerbeautyHerbeautyHe Is Totally In Love With You If He Does These 7 ThingsHerbeautyHerbeautyHerbeauty11 Yummy Spices For A Flat TummyHerbeautyHerbeautyHerbeauty18 Ways To Get Rid Of HiccupsHerbeautyHerbeautyHerbeauty12 Female Fashion Trends That Guys Can’t StandHerbeautyHerbeauty Name (required)  Mail (required) (not be published)  Website  CITY NEWS SERVICE/STAFF REPORT Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Top of the News center_img Make a comment Business News STAFF REPORT First Heatwave Expected Next Week More Cool Stuff STAFF REPORT Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Business News California Investor Spends $590 Million to Expand Footprint in Research Triangle Park By ANDY VITALICIO Published on Wednesday, August 26, 2020 | 3:34 pm 40 recommended0 commentsShareShareTweetSharePin it EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDSlast_img read more

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Report: Justice Department Nears Settlement With Bank of America

first_img Bank of America and the Justice Department are close to completing a long-rumored and record-setting deal to resolve allegations of misconduct in the sales of mortgage-backed securities that went bad, according to a report from the Wall Street Journal.Citing “people familiar with the matter,” the Journal reported Wednesday afternoon that BofA has agreed to pay between $16 billion and $17 billion to clear itself of charges that it knowingly sold toxic securities in the run-up to the financial crisis. The allegations mostly revolve around Bank of America’s Merrill Lynch unit, which the bank acquired in 2008.According to the report, BofA will pay approximately $9 billion to the government, with the rest going toward consumer relief.Noting that the deal could still fall through, the Journal report says no announcement is likely to come this week as representatives on both sides meet to finalize the terms.If the latest rumored agreement is true, the deal would mark the largest-ever penalty in a civil settlement between the government and an institution, a record previously held by JPMorgan Chase after it agreed to a $13 billion settlement in a similar case last year.BofA and the Justice Department reportedly came to an agreement last week, only a day after a federal judge ruled the bank must pay nearly $1.3 billion over a fraud case brought on by alleged misconduct at Countrywide, another acquisition made in 2008. At the time that decision was publicized, a spokesperson for BofA said the bank plans to review the ruling and assess its options to appeal.In addition, the firm reported a legal expense of $4 billion in the second quarter, “substantially all” of which was related to mortgage matters. The case with the Justice Department stands as one of the bank’s last major legal hurdles. Previous: Survey: Agent/Client Relationship Key for First-Time Buyers Next: Alliant Hires Brasier as SVP Report: Justice Department Nears Settlement With Bank of America The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Bank of America Justice Department Settlement Sign up for DS News Daily About Author: Tory Barringer Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington’s student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News’ sister publication, MReport, which focuses on mortgage banking news. in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Share Save Home / Daily Dose / Report: Justice Department Nears Settlement With Bank of America  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago August 6, 2014 1,252 Views Bank of America Justice Department Settlement 2014-08-06 Tory Barringer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Subscribelast_img read more

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News story: Government launches low carbon fuels consultation

first_imgThe Department for Transport has launched a consultation today (20 July 2018) on whether and how it should introduce E10 fuel – which contains more bioethanol than traditional petrol – to the UK market.This would help reduce carbon emissions from petrol vehicles, helping the UK meet its climate change targets.Transport Minister Jesse Norman said: Decarbonising petrol is increasingly important as the government moves towards the zero emissions future set out in the Road to Zero strategy earlier this month.The 8 week consultation closes on Sunday 16 September 2018. This government is ambitiously seeking to reduce the UK’s reliance on imported fossil fuels and cut carbon emissions from transport. But drivers of older vehicles should not be hit hard in the pocket as a result. We have launched this consultation in order to understand the impact of E10 on the UK market better, and to ensure that drivers are protected if any changes come into effect. Out of hours media enquiries 020 7944 4292 Roads media enquiries Media enquiries 020 7944 3021 The changes to the Renewable Transport Fuels Obligation (RTFO) announced earlier this year require transport fuel suppliers to increase the amount of renewable fuel supplied across the UK up to 2032.To meet these new targets, fuel suppliers could choose to increase the percentage of bioethanol in petrol beyond the current 5% (E5) up to a limit of 10% (E10).Filling up with E10 fuel reduces the greenhouse gas emissions of a petrol vehicle by around 2%. However, according to industry figures, there could be around one million cars within the UK that are unsuitable for use with E10.The consultation also includes proposals on introducing new fuel labels at filling stations and on new vehicles to help motorists select the right the fuel.The government consultation will seek views on: whether and how to introduce E10 petrol in the UK the reintroduction of an E5 protection grade to ensure standard petrol remains available at an affordable price the introduction of new fuel labelling at petrol pumps and on new cars Switchboard 0300 330 3000last_img read more

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