Apartment Choice

Miramar Hotel and Investment Company, Limited (HKSE: 71) announced last week the unaudited interim results for the six months ended 30 June 2017 .           For the six months ended 30 June HK$ Million   2017   2016   Change Revenue   1,559   1,485   5% Underlying profit attributable to shareholders*   333   263   27% Underlying earnings per share (Basic)*   57 cents   cents   27% Interim dividend per share   23 cents   20 cents   15%               * Underlying profit attributable to shareholders and underlying earnings per share are calculated by excluding the post-tax effects of the property revaluation movements and other non-operating and non-recurring items such as net gain on disposal of a subsidiary For the six months ended 30 June 2017 (the "Reporting Period"), the Group's unaudited revenue was HK$1,559 million, representing a growth of 5% compared to the six months ended 30 June 2016 (the "Last Corresponding Period"). Excluding the increa...

Miramar Hotel and Investment Company, Limited announced today the unaudited interim results for the six months ended 30 June 2017 . * Underlying profit attributable to shareholders and underlying earnings per share are calculated by excluding the post-tax effects of the property revaluation movements and other non-operating and non-recurring items such as net gain on disposal of a subsidiary For the six months ended 30 June 2017 (the "Reporting Period"), the Group`s unaudited revenue was HK$1,559 million, representing a growth of 5% compared to the six months ended 30 June 2016 (the "Last Corresponding Period"). Excluding the increase in fair value of our investment properties of HK$416 million and the one-off net gain on disposal of a subsidiary with a property in Central of HK$32 million, unaudited basic underlying profit attributable to shareholders surged significantly by 27% to approximately HK$333 million. The basic underlying earnings per share we...

New York- based Somerset Partners LLC has purchased Dogwood Creek , a 278- unit apartment community on Houston Levee Road in Collierville. G & I V Dogwood Creek LLC , a joint venture between Fogelman Venture Partners of Memphis and a fund managed by New-York- based DRA Advisors LLC , sold the community at a rate of $93,525 per unit—translating to a grand total of $26 million, reports the Memphis Business Journal . Built in 1997, the Class A garden style apartment complex had a 97 percent occupancy at the time of purchase and consists of one-, two- and three-bedroom units with an average surface area of 985 square feet. The property will undergo a value- add interior renovation led by Somerset Partners . Somerset Partners is a private investment firm with a portfolio of both commercial and multifamily properties and investments of over $1.6 billion since 2000. Seller G & I V Dogwood Creek was represented by the Memphis division of CBRE. In other multifamily news, Hunter...

POWAY -- The city's newest affordable-housing development received its first residents over the weekend, after being cleared by the city for occupancy late last week. Escondido- based nonprofit Community HousingWorks teamed up with the city to build Solara Apartments on the southwest corner of Community Road and Hilleary Place, just south of Hilleary Park. The $16.5 million, 3- acre project added 55 apartments to the city's supply of housing for low- and very- low income people . Contractors are still putting finishing touches on the complex's landscaping. Community HousingWorks asset manager Rosemary Stabrawa said Monday, however, that Solara's first residents moved in over the weekend, and more are expected to follow by the end of this week. All the development's tenants should be in their new homes by the end of the month, she said. "Approximately jubilant," Stabrawa said, describing her mood while handing out Solara apartment keys . "It...