long term – RGLB http://rglb.org/ Wed, 13 Apr 2022 10:07:02 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://rglb.org/wp-content/uploads/2021/06/icon-2021-06-25T174556.459-150x150.png long term – RGLB http://rglb.org/ 32 32 What Recent ELTIF Developments Mean for the Real Estate Market | Allen & Overy LLP https://rglb.org/what-recent-eltif-developments-mean-for-the-real-estate-market-allen-overy-llp/ Wed, 16 Mar 2022 17:36:00 +0000 https://rglb.org/what-recent-eltif-developments-mean-for-the-real-estate-market-allen-overy-llp/ What is an ELTIF? The ELTIF is a closed fund which can however be listed. It offers a unique opportunity for institutional and retail investors to invest in a wide range of different asset types, including real estate assets, infrastructure projects, private equity and listed companies whose market capitalization does not exceed not 500 million […]]]>

What is an ELTIF?

The ELTIF is a closed fund which can however be listed. It offers a unique opportunity for institutional and retail investors to invest in a wide range of different asset types, including real estate assets, infrastructure projects, private equity and listed companies whose market capitalization does not exceed not 500 million euros. In addition, the ELTIF benefits from a marketing passport enabling the distribution of fund units in all the countries of the European Economic Area.

It is not a new vehicle. Regulation (EU) 2015/760 of 29 April 2015 on European long-term investment funds (the ELTIF Regulation) already entered into force at the end of 2015, but has so far seen only limited adoption. Based on the register maintained by ESMA, only 67 ELTIFs have been registered, most of them having Luxembourg as their home Member State. For the moment, there is no Belgian ELTIF.

However, recent developments are likely to increase interest in these vehicles, especially in Belgium. The European Commission has just made a proposal to make the ELTIF more attractive for sponsors, managers and investors (proposal published on November 5, 2021). At the Belgian level, the recent adoption of a specific tax regime for ELTIFs should further increase interest in this type of fund for sustainable projects and real estate investments.

What is its use in a real estate context?

ELTIFs can invest in specific types of assets, including real estate. In the context of the EU, a real asset is any asset that has value because of its substance and properties and that can generate returns. Real assets include infrastructure assets and other assets that give rise to economic or social benefits (including education or research and development). Investments in commercial property or residential projects are also allowed, provided they are part of a long-term investment project that contributes to the EU objective of smart, sustainable and sustainable growth. inclusive. In this regard, the new regulation proposed by the EU is expected to broaden the scope of real asset investment strategies that ELTIF managers can pursue.

It should be noted in particular in the context of real estate investments (i) that real estate assets are only eligible for investment by an ELTIF (directly or indirectly through a holding company) only when the real estate asset individual has a value of at least EUR 10,000,000 (it being understood that the European Commission has now proposed to reduce this threshold to EUR 1,000,000) and (ii) the diversification requirement. In accordance with this diversification requirement, ELTIFs may in particular not invest more than 10% of their capital directly or indirectly in a single real asset. This limit may be increased to 20%, provided that the aggregate value of the assets held by the ELTIF in individual real estate assets in which it invests more than 10% of its capital does not exceed 40% of the value of the capital of the ELTIF. However, the proposed new regulation is expected to ease these restrictions for ELTIFs marketed only to professional investors.

ELTIFs are an interesting alternative to the vehicles of Belgian specialized real estate investment funds (FIIS/GVBF) commonly used on the Belgian real estate market, in particular for the following reasons:

  • ELTIFs are not subject to the 10-year investment ceiling set for Belgian specialized real estate investment funds;
  • ELTIFs benefit from a harmonized European label for financial products, which allows for EU-wide distribution to professional and retail investors; and
  • The distribution rules applicable to ELTIFs are more flexible than those of other Belgian real estate investment funds; in particular, ELTIFs are not subject to the obligation to distribute 80% of their income.

We note, however, that ELTIFs may only be managed by EU alternative investment fund managers authorized under the AIFM Directive and specifically authorized by the competent authority to manage the relevant ELTIF. The status of specialized real estate investment fund is also open to certain types of entities which are not as such qualified as alternative investment funds within the meaning of the Belgian AIFM regulations (for example joint ventures or single-shareholder investment fund). In this case, the specialized real estate investment fund does not necessarily have to be managed by an approved alternative investment fund manager.

What is the tax treatment of an ELTIF?

Legislation creating a new tax regime for ELTIFs was published in the Official Gazette on January 28, 2022. It contains the following key features.

The treatment of income from ELITF companies will be organized in accordance with article 185bis of the Belgian Income Tax Code. In other words, corporation tax will only be applicable on a very limited tax base made up of abnormal or benevolent advantages received and certain disallowed expenses. In most cases, this will effectively lead to corporate tax neutrality.

Dividend distributions are also treated favorably. In particular, while dividends received by a Belgian investment company are in principle taxable at the normal corporate tax rate of 25%, ELTIFs can offer their Belgian corporate investors the benefit of the DRD regime, effectively preventing taxation at the level of the investor for the corresponding income if several conditions are met. It should be noted that the benefit of the DRD regime is not subject to the requirement that the vehicle’s articles of association provide for an annual distribution of 80% (as is the case for FIIS/GVBF and SIR/GVV).

For non-Belgian corporate investors, the ELTIF tax regime provides for an exemption from Belgian withholding tax on distributions made by ELTIFs from dividends and capital gains on shares if certain conditions are met. It is important to note that ELTIFs could also be eligible for reductions or exemptions from withholding tax under the Belgian network of tax treaties, subject however to the opinion to be adopted by the other State concerned.

We further note that investment vehicles regulated by the Belgian Financial Services and Markets Authority, including ELTIFs, are subject to an annual subscription tax in Belgium at the rate of 0.0925% on net assets placed in Belgium, or at a reduced rate of 0.01% for shares dedicated to qualified non-retail investors.

More information ?

See our general eAlert on ELTIFs: link. We are further available to discuss the above and the opportunities it creates for your business and your business.

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Fears of nuclear war lead to a rush to buy potassium iodide tablets https://rglb.org/fears-of-nuclear-war-lead-to-a-rush-to-buy-potassium-iodide-tablets/ Thu, 10 Mar 2022 11:05:02 +0000 https://rglb.org/fears-of-nuclear-war-lead-to-a-rush-to-buy-potassium-iodide-tablets/ Covering COVID-19 is a daily Poynter Briefing of story ideas on coronavirus and other hot topics for journalists, written by Senior Professor Al Tompkins. Sign up here to get it delivered to your inbox every weekday morning. Global concern over whether humanity might be out of whack enough to start nuclear war is leading to […]]]>

Covering COVID-19 is a daily Poynter Briefing of story ideas on coronavirus and other hot topics for journalists, written by Senior Professor Al Tompkins. Sign up here to get it delivered to your inbox every weekday morning.

Global concern over whether humanity might be out of whack enough to start nuclear war is leading to a rush to buy potassium iodide pills.

This is the 2022 version of the duck and blanket drills school children learned during the Cold War. And it can be just about as useful. The Centers for Disease Control and Prevention explains:

KI (potassium iodide) is a stable (non-radioactive) iodine salt that can help prevent radioactive iodine from being taken up by the thyroid gland, thereby protecting this gland from radiation damage.

The thyroid gland is the part of the body most sensitive to radioactive iodine.

Wealth reports:

In Belgium, nearly 30,000 residents went to pharmacies for free pills following Russian President Vladimir Putin’s announcement to put his nuclear deterrent forces on high alert and recent fighting in the nuclear power plants in Ukraine, according to the Brussels Times.

Meanwhile, Bloomberg reported that there had been a 100x increase in demand for tablets in Finland since Russia invaded Ukraine, with pharmacies running out of stock across the country.

OK, let’s slow down here. The CDC says, “People should only take KI (potassium iodide) on the advice of public health or emergency management officials. There are health risks associated with taking KI. …Taking (potassium iodide) more often than recommended does not provide more protection and may result in serious illness or death.

Survival gear websites report that they are out of stock, although I have queried many other supplement and survival gear sites that seem to have a lot.

(doomsdayprep.com)

If you’re over 40, the pills won’t do much for you, according to the CDC.

These pills do not protect against other effects of a nuclear explosion, including fires and caesium-137 or strontium-90 carcinogens. You can add to this list water contamination, structural devastation, starvation, nuclear winter and a long list of other horrors that a nuclear war would bring. Your thyroid may be the least of your worries.

The New Republic adds to this madness:

Predictably, the Readiness Cycle returned with the threat of World War III, though the talking points are particularly ridiculous when presented alongside the potential threat.

The manager of a survival shelter company in Texas says he has already sold five bunkers since late February, each costing between $70,000 and $240,000. A company selling freeze-dried meals has released a color-coded map of caves across the United States that could reduce the risk of radiation poisoning if a person manages to “go deep” and have enough supplies. It also sells kits that claim to remove radiation from the food it supplies at a discount of $74.99.

Let’s put the rush for these pills in some context. Here’s how many nuclear-armed countries in the world have on hand:

(swissinfo.ch)

A Swiss science website cites Stephen Herzog, a researcher at the Center for Security Studies at the Federal Institute of Technology ETH Zurich. What he says is sobering enough to prevent any sane person from considering nuclear weapons as a means of resolving conflict:

But even deploying only a small part of this arsenal would have devastating long-term consequences.

“The atmospheric overpressure caused by the shock wave of the nuclear explosion would be capable of destroying entire buildings up to tens of kilometers away, except those made of hardened reinforced concrete,” he explains.

Hundreds of thousands of people could be instantly killed or injured by debris or collapsing buildings. In addition, the explosion would create visible, infrared and ultraviolet light waves which would combine to produce a kind of large, very hot ball of fire capable of burning everything and creating third degree burns in an even greater radius than the damage. caused by the explosion.

Contaminated populations would face subsequent radioactive fallout, which can cause tumors and birth defects.

Today’s atomic weapons technology makes it possible to wipe out entire metropolises even over great distances. “Every major city in the United States is potentially half an hour away from destruction, and every major NATO city in Europe is about 20 minutes away from destruction by one of these ballistic missiles,” Herzog says.

So what are these iodine pills good for? Maybe the pandemic has taught us some things. When things get out of our control, we seem to have to do Somethingalthough there is not much evidence that Something Is usefull. How many gallons of bleach have been sold to people who wiped down every inch of their homes and offices to fight COVID-19, only to find the virus doesn’t travel that way?

Experts say they could be useful for dosing children after a nuclear power plant accident. But even then, the pills would be coupled with mass evacuations and the surrounding area would be uninhabitable for decades. In short, experts say don’t think a bottle of iodine pills will protect you from a nuclear war any more than hiding under a desk did when I was a kid.

Today’s national story will likely focus on the Consumer Price Index numbers which, while ugly, will not capture the most recent increases in the price of gasoline over the past two weeks. . The figures will represent the inflation rate in February.

The CPI is based on a Department of Labor survey of thousands of retail stores, service establishments, rental units, and medical offices across the United States. The Bureau of Labor Statistics studies the prices of 80,000 goods and services throughout the month.

But Russia invaded Ukraine on Feb. 24, when the average gasoline price was $3.53 a gallon, 70 cents lower than today.

Forbes argues that the inflation picture of the CPI is exaggerated, even though the government’s model for estimating inflation at the consumer level is biased. Here’s why:

The index is topped by a small handful of components. It compromises its value as a guide for fiscal or monetary policy decisions.

The IPC includes dozens of categories and hundreds of individual items. Here is a graphical representation (from the Pew Foundation) of the weightings of the main categories.

(Pew Research Center)

Some of the largest categories on this chart are also among the most volatile, including, of course, gasoline. But some of the main drivers of inflation in recent months have been new and used car prices, hotel and motel costs, and housing. Watch the ups and downs of these hotel and used car costs during the pandemic:

(Forbes)

(Forbes)

They raise the valid question of whether such volatility makes the CPI a reliable picture of the national economy. Now watch this from Forbes:

With airfare inflation (+8 standard deviations), these categories account for almost 10% of the weight of the CPI. They jumped above their long-term averages by an average of 12 standard deviations.

This skewed and distorted the entire CPI. In some months last year, the used car component alone was responsible for a third of the total annualized increase in “inflation”.

A new survey of travelers has revealed that many are worried about the war in Ukraine, especially international travellers. Half of those planning to travel to Europe this year say they have growing concerns.

But 56% of Americans surveyed say they are planning some sort of spring break trip this year. Three-quarters say they will stay in the US and 23% said they are not only staying in the US, but staying home while taking a break from work or school .

First, know that the Joro spider is about three inches long, but it is not venomous or aggressive. I’m not posting a picture because I didn’t want to scare some of you off, but if you want to see it, click here. It is bright yellow and really impressive. Go ahead, take a look. We will wait.

The Joros are not only big, they are spreading. USA Today spoke with experts who say you should leave critters alone because they eat a lot of bugs:

If you haven’t encountered Joro’s colorful and massive spider yet, you may soon discover the invasive species if you live on the East Coast, scientists predict.

The predominantly yellow spider, which can grow as big as the palm of your hand, was first spotted in Georgia in 2013. Native to Asia, there’s no clear answer as to how it arrived in the United States, except it probably came in a delivery package. But in nearly 10 years, the species quickly spread across Georgia and other parts of the southeast.

Now, University of Georgia scientists say in a study published in the journal Physiological Entomology that the Joro spider could take over much of the East Coast in the coming years.

NPR reports that the Joro spider originated in Japan and its name has a colorful history:

It takes its name from Jorōgumo, who in Japanese folklore can transform into a beautiful woman to prey on unsuspecting men.

NPR said that spider hatchlings emerge from their egg sacs and do something called ballooning, which is when they use web-like setae to carry them on the wind to new places. It reminds me of that scene in Charlotte’s Web where all the baby spiders are leaving.

One more thing: spider experts say that Joros not only eats a lot of mosquitoes, but birds apparently like to gobble up spiders, which are apparently as tasty as they are filling.

We’ll be back tomorrow with a new edition of Covering COVID-19. Are you a subscriber? Sign up here to receive it straight to your inbox.

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Iba – Acquisition of own shares https://rglb.org/iba-acquisition-of-own-shares/ Mon, 07 Mar 2022 17:32:00 +0000 https://rglb.org/iba-acquisition-of-own-shares/ Immediate release – March 7and2022 Louvain-la-Neuve, Belgium, March 7and2022 – Pursuant to Article 8:4 of the Royal Decree of 29 April 2019 implementing the Belgian Companies and Associations Code, Ion Beam Applications SA (“IBA”) hereby discloses information relating to its share buyback program. actions announced on December 3rd2021. Under this program, IBA has asked a […]]]>

Immediate release – March 7and2022

Louvain-la-Neuve, Belgium, March 7and2022 – Pursuant to Article 8:4 of the Royal Decree of 29 April 2019 implementing the Belgian Companies and Associations Code, Ion Beam Applications SA (“IBA”) hereby discloses information relating to its share buyback program. actions announced on December 3rd2021.

Under this program, IBA has asked a financial intermediary to buy back up to 400,000 IBA ordinary shares on its behalf under the terms of a discretionary mandate agreement valid until June 30and2022, starting December 6and2021, to cover the remaining part of the company’s obligations under a long-term incentive plan granted to certain members of its staff in 2021.

Under this share buyback program, IBA bought back 54,774 IBA shares on Euronext Brussels during the period from February 28and,2022 until March 4 includedand2022, as follows:

The total number of shares purchased under this program therefore amounts to 384,405. Consequently, the current situation of treasury shares (held directly by IBA SA and indirectly via its subsidiary IBA Investments SCRL) is as follows.

About IBA

IBA (Ion Beam Applications SA) is a global medical technology company focused on providing integrated and innovative solutions for the diagnosis and treatment of cancer. The company is the world technology leader in the field of proton therapy, considered the most advanced form of radiotherapy available today. IBA’s proton therapy solutions are flexible and adaptable, allowing customers to choose between large-scale universal proton therapy centers as well as compact single-room solutions. In addition, IBA has a radiation dosimetry activity and develops particle accelerators for the medical world and industry. Based in Belgium and employing approximately 1,500 people worldwide, IBA has installed systems worldwide.

IBA is listed on the pan-European stock exchange NYSE EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB). More information can be found at www.iba-worldwide.com

Contact

IBA
Christian Maton,
Legal council
shareholderrelations@iba-group.com

  • Press release EN 20220307

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US Army Corps of Engineers Real Estate Services Plays Key Role in US Missions in Europe | Item https://rglb.org/us-army-corps-of-engineers-real-estate-services-plays-key-role-in-us-missions-in-europe-item/ Fri, 04 Mar 2022 14:40:30 +0000 https://rglb.org/us-army-corps-of-engineers-real-estate-services-plays-key-role-in-us-missions-in-europe-item/ 1 / 3 Show legend + Hide legend – Mark Harkison, U.S. Army Corps Real Estate Field Office Manager, Europe District Italy, discusses Europe District’s real estate mission in Italy with Europe District Commander Col. Pat Dagon during the road project Recently completed Via dei Martinelli leading to a US facility in Longare, Italy October […]]]>








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Mark Harkison, U.S. Army Corps Real Estate Field Office Manager, Europe District Italy, discusses Europe District’s real estate mission in Italy with Europe District Commander Col. Pat Dagon during the road project Recently completed Via dei Martinelli leading to a US facility in Longare, Italy October 4, 2021. Recently completed road improvements were completed close to the base, requiring a great deal of real estate support and coordination. (U.S. Army photo by Chris Gardner)
(Photo credit: Christopher Gardner)

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U.S. Army Corps of Engineers Real Estate Services Plays a Key Role in U.S. Missions in Europe








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US Army Corps of Engineers, Europe District Chief of Real Estate Anne Kosel chats with Chief of Contracts Chris Tew during a guided tour of the new administration building under construction on the North Clay portion of the US Army’s Clay Kaserne in Wiesbaden, Germany May 11, 2021 The Europe District Real Estate Division manages Consignment Agreements for U.S. Army Garrisons in Europe, which are the agreements that enable the operation of enduring U.S. bases in foreign countries. (U.S. Army photo by Alfredo Barraza)
(Photo credit: Alfredo Barraza)

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U.S. Army Corps of Engineers Real Estate Services Plays a Key Role in U.S. Missions in Europe








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One of the ways the U.S. Army Corps of Engineers real estate team, Europe District helps ensure the availability of housing for soldiers and their families in Europe, is through innovative build-to-lease programs like the one where the Construction, seen here Jan. 22, 2022, is underway on more than 100 homes for soldiers and their families out of post at U.S. Army Garrison Italy. Through programs like this, private builders construct off-post housing designed specifically for soldiers and their families through agreements with the military. By doing so, builders are offered certain tenant guarantees for a period of time after construction as long as the properties are properly maintained and continue to meet agreed standards. (U.S. Army photo by Mark Harkison)
(Photo credit: Christopher Gardner)

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LONGARE, Italy – Last fall, the U.S. Army Corps of Engineers, U.S. Army Garrison Italy, and other partners and local community members here celebrated the completion of a new, widened Via dei Martinelli roadway in benefit of soldiers using the nearby Longare facility as well as members of the surrounding commune.

The project was overseen by the US Army Corps of Engineers, Europe District and, as a project entirely out of the nearby Longare facility, required considerable support from the European District’s real estate division and from their local real estate office in Italy.

“The Italian real estate office team secured the real estate agreement with the city and the underlying real estate agreement gave us the authority to spend money on the project and emphasized that the city was responsible for the acquiring the footprint of the project which widened the existing road,” said Mark Harkison, head of the real estate office in Italy.

District Europe’s real estate division provides direct support for projects such as the Via dei Martinelli widening effort, but their mission goes well beyond individual U.S. Army Corps of Engineers construction projects. Their team actually provides key real estate support to all US Army forces stationed and operating in the European theater.

“The Europe District Real Estate Division acquires, manages, releases and disposes of real estate interests – such as leases, licenses and international agreements – for U.S. Army Forces Europe,” said Anne Kosel, Chief of real estate division of the Europe district. “We have six real estate offices in three countries responsible for approximately 1,700 contractual requirements to support our partners in Europe.”

This includes managing real estate agreements called consignments, which are the actual agreements between host country partners and the United States that allow for long-term bases in foreign countries like Italy and Germany.

“The land we’re sitting on, the underlying landowner is the Italian Ministry of Defense and the dispatch is the document that gives control of the MoD to the US government so we can do what we need with this base,” Harkison said while on Caserma Ederle, part of the U.S. Army’s Italian garrison in the Vicenza area.

In addition to managing these consignment agreements for US Army garrisons, the European District real estate team also manages residential and commercial leases for US forces, such as housing communities for soldiers and their families or warehouses. or offices needed to support various missions.

This can range from managing the rental of property and off-post accommodations for general officers’ quarters associated with the US Army Garrison in the Benelux to acquiring space at ports and airports in Belgium, Netherlands, Germany and Italy to support the movement of American personnel. , official and personal mail, household goods and personal vehicle shipments.

Europe District’s real estate team also helps ensure the availability of housing for soldiers and their families through innovative build-to-lease schemes like the one where construction is underway on over 100 homes for soldiers and their families. out of post at the US Army Garrison. Italy. Through programs like this, private builders construct off-post housing designed specifically for soldiers and their families through agreements with the military. By doing so, builders are offered certain tenant guarantees for a period of time after construction as long as the properties are properly maintained and continue to meet agreed standards.

Popular housing for soldiers and their families in the Netzaberg community associated with the US Army Garrison in Bavaria, Germany is an example of this type of program.

“We are proud to be able to work closely with our partners at U.S. Army Garrisons and Installations Management Command to find and secure housing opportunities for our Soldiers and their families when the need arises. “, said Anne Kosel, head of real estate for the European district.

In addition to bolstering the availability of housing for soldiers and families, the Europe District Real Estate Division supports any additional land or building space the U.S. military may require throughout Europe. Most of this work is done in Germany, Belgium, the Netherlands and Italy, but can be done in other countries depending on the dynamic needs of the military and in recent years has included the acquisition and management of real estate leases for offices, other commercial spaces and housing in Romania, Bulgaria and Poland for example.

Projects like these and working across multiple international borders to meet the wide range of military real estate needs in Europe can bring unique challenges.

“It’s really quite different when you come from states where American law governs everything,” Kosel said. “Each country we operate in has different laws, customs and procedures. It is important to recognize, understand and appreciate these unique aspects in order to facilitate negotiations and reach agreement on the terms and conditions of the contract. Sometimes what works in Italy in their style, doesn’t work in Germany or Belgium and so that’s the challenge – really is to understand the uniqueness of each place, action and negotiating partner.

Kosel noted that a big key to the real estate team’s success is their local national staff cadre who bring invaluable experience to the mission while working closely with the district’s Department of Army Civilians, or DAC. . About half of Europe District’s real estate team is made up of local nationals, in contrast to about a quarter of the overall Europe District workforce which is made up of local nationals.

“We are very lucky to have our national workforce here,” Kosel said. “While DECs come and go from time to time, our local national team members stay and provide continuity, which is a key contributor to the success of our mission. They have the language skills, knowledge of international agreements , technical arrangements and procedures and relations with our counterparts in the host country.”

Kosel encouraged anyone interested in being part of the U.S. Army Corps of Engineers real estate mission to think about it, saying she finds the variety and challenges that come with the mission rewarding.

“I like the variety and challenges that geography presents, as we work in so many different countries,” Kosel said. “No two transactions are the same, no owner is the same, no country is the same. I love the challenge that variety brings.

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DVIDS – News – U.S. Army Corps of Engineers Real Estate Services Plays Key Role in U.S. Missions in Europe https://rglb.org/dvids-news-u-s-army-corps-of-engineers-real-estate-services-plays-key-role-in-u-s-missions-in-europe/ Fri, 04 Mar 2022 13:11:00 +0000 https://rglb.org/dvids-news-u-s-army-corps-of-engineers-real-estate-services-plays-key-role-in-u-s-missions-in-europe/ LONGARE, Italy – Last fall, the U.S. Army Corps of Engineers, U.S. Army Garrison Italy, and other partners and local community members here celebrated the completion of a new, widened Via dei Martinelli roadway in benefit of soldiers using the nearby Longare facility as well as members of the surrounding commune. The project was overseen […]]]>

LONGARE, Italy – Last fall, the U.S. Army Corps of Engineers, U.S. Army Garrison Italy, and other partners and local community members here celebrated the completion of a new, widened Via dei Martinelli roadway in benefit of soldiers using the nearby Longare facility as well as members of the surrounding commune.

The project was overseen by the US Army Corps of Engineers, Europe District and, as a project entirely out of the nearby Longare facility, required considerable support from the European District’s real estate division and from their local real estate office in Italy.

“The Italian real estate office team secured the real estate agreement with the city and the underlying real estate agreement gave us the authority to spend money on the project and emphasized that the city was responsible for the acquiring the footprint of the project which widened the existing road,” said Mark Harkison, head of the real estate office in Italy.

District Europe’s real estate division provides direct support for projects such as the Via dei Martinelli widening effort, but their mission goes well beyond individual U.S. Army Corps of Engineers construction projects. Their team actually provides key real estate support to all US Army forces stationed and operating in the European theater.

“The Europe District Real Estate Division acquires, manages, releases and disposes of real estate interests – such as leases, licenses and international agreements – for U.S. Army Forces Europe,” said Anne Kosel, Chief of real estate division of the Europe district. “We have six real estate offices in three countries responsible for approximately 1,700 contractual requirements to support our partners in Europe.”

This includes managing real estate agreements called consignments, which are the actual agreements between host country partners and the United States that allow for long-term bases in foreign countries like Italy and Germany.

“The land we’re sitting on, the underlying landowner is the Italian Ministry of Defense and the dispatch is the document that gives control of the MoD to the US government so we can do what we need with this base,” Harkison said while on Caserma Ederle, part of the U.S. Army’s Italian garrison in the Vicenza area.

In addition to managing these consignment agreements for US Army garrisons, the European District real estate team also manages residential and commercial leases for US forces, such as housing communities for soldiers and their families or warehouses. or offices needed to support various missions.

This can range from managing the rental of property and off-post accommodations for general officers’ quarters associated with the US Army Garrison in the Benelux to acquiring space at ports and airports in Belgium, Netherlands, Germany and Italy to support the movement of American personnel. , official and personal mail, household goods and personal vehicle shipments.

Europe District’s real estate team also helps ensure the availability of housing for soldiers and their families through innovative build-to-lease schemes like the one where construction is underway on over 100 homes for soldiers and their families. out of post at the US Army Garrison. Italy. Through programs like this, private builders construct off-post housing designed specifically for soldiers and their families through agreements with the military. By doing so, builders are offered certain tenant guarantees for a period of time after construction as long as the properties are properly maintained and continue to meet agreed standards.

Popular housing for soldiers and their families in the Netzaberg community associated with the US Army Garrison in Bavaria, Germany is an example of this type of program.

“We are proud to be able to work closely with our partners at U.S. Army Garrisons and Installations Management Command to find and secure housing opportunities for our Soldiers and their families when the need arises. “, said Anne Kosel, head of real estate for the European district.

In addition to bolstering the availability of housing for soldiers and families, the Europe District Real Estate Division supports any additional land or building space the U.S. military may require throughout Europe. Most of this work is done in Germany, Belgium, the Netherlands and Italy, but can be done in other countries depending on the dynamic needs of the military and in recent years has included the acquisition and management of real estate leases for offices, other commercial spaces and housing in Romania, Bulgaria and Poland for example.

Projects like these and working across multiple international borders to meet the wide range of military real estate needs in Europe can bring unique challenges.

“It’s really quite different when you come from states where American law governs everything,” Kosel said. “Each country we operate in has different laws, customs and procedures. It is important to recognize, understand and appreciate these unique aspects in order to facilitate negotiations and reach agreement on the terms and conditions of the contract. Sometimes what works in Italy in their style, doesn’t work in Germany or Belgium and so that’s the challenge – really is to understand the uniqueness of each place, action and negotiating partner.

Kosel noted that a big key to the real estate team’s success is their local national staff cadre who bring invaluable experience to the mission while working closely with the district’s Department of Army Civilians, or DAC. . About half of Europe District’s real estate team is made up of local nationals, in contrast to about a quarter of the overall Europe District workforce which is made up of local nationals.

“We are very lucky to have our national workforce here,” Kosel said. “While DECs come and go from time to time, our local national team members stay and provide continuity, which is a key contributor to the success of our mission. They have the language skills, knowledge of international agreements , technical arrangements and procedures and relations with our counterparts in the host country.”

Kosel encouraged anyone interested in being part of the U.S. Army Corps of Engineers real estate mission to think about it, saying she finds the variety and challenges that come with the mission rewarding.

“I like the variety and challenges that geography presents, as we work in so many different countries,” Kosel said. “No two transactions are the same, no owner is the same, no country is the same. I love the challenge that variety brings.







Date taken: 03.02.2022
Date posted: 03.04.2022 08:11
Story ID: 415579
Location: LONGARE, IL





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10 Common Reasons People Use Payday Loans | Ask the Experts https://rglb.org/10-common-reasons-people-use-payday-loans-ask-the-experts/ Fri, 25 Feb 2022 01:52:00 +0000 https://rglb.org/10-common-reasons-people-use-payday-loans-ask-the-experts/ Struggling to fund an emergency? What should you do if you need money right now? First of all, assess the situation and do not make hasty decisions. Payday loans play a good role here to help you pay off your debt and spend the necessary amount of money for emergency expenses. We recommend the option […]]]>

Struggling to fund an emergency? What should you do if you need money right now? First of all, assess the situation and do not make hasty decisions. Payday loans play a good role here to help you pay off your debt and spend the necessary amount of money for emergency expenses.

We recommend the option of taking out a payday loan DirectLoanTransfer if you have a short-term disruption to your finances. Thus, you can repay your debt in just one to two months and calmly continue to pay your loans on time.

More often than not, we find ourselves in a financial bind. Suppose you spread yourself too thin and exhaust your borrowing options. Now what? Let’s take a look at 10 good reasons why people take payday loans.

Reasons to get a payday loan

1. When you can’t afford major purchases

A client took out payday loans to buy new appliances, a cell phone, a fur coat for his wife, a car and winter tires. He was able to finance all of these purchases with payday loans while saving money to pay for his personal needs and necessities, such as food, gas, and clothing.

2. To avoid empty pockets

Over the past 15 years, a customer has taken out about 10 loans to buy a camera, two tablets, two phones, and new furniture. Taking out payday loans allowed her to buy what she needed and still have money in her pocket. These were well-calculated decisions that helped the client get the necessities without spending all her money.

3. Out of madness

A customer broke his phone. Unfortunately, he had no savings, so he took out a loan. Therefore, the customer filled out a request directly in the store, but only one bank responded. The fees and interest rates on this bank loan were thousands of dollars more than the original amount he had borrowed. After this realization, he decided to look into payday loans instead. The client received money instantly and didn’t have to worry about trailing payments that accrue interest. With payday loans, he got his phone and paid off the debt in just one month – easy and hassle-free!

4. If there is not enough will to accumulate

Let’s say you took out two payday loans, the first for remote programming lessons and the second for a digital piano. One has already been paid, the other is being paid. There is not enough will to save on such acquisitions. Each time, think carefully about the need to apply for a payday loan. Consult specialists from different banks and don’t forget to consider different payday loan offers. Due to this, thanks to the training, you will receive attractive offers of personal loans from the management, and the piano will become a source of additional income.

5. To raise the standard of living

A payday loan is a great opportunity to get an item at a discount. You can close the debt on the first payment, saving a little. Credit cards help you get certain things without overpaying but a little earlier. Payday loans will help you raise the bar on quality of life. It is not because there are things that are borrowed. Indeed, you will start thinking in slightly different numbers with a payday loan.

6. Live until the next paycheck

Payday loans can help solve urgent and unexpected financial difficulties, but sometimes high rates and overpayments can create long-term problems in a family’s budget. Now we have to work for the loans. All the money is divided into two categories: repayment of the loan and somehow stretching the salary.

7. In order not to constrain oneself in desires

Payday loans can be taken on a whim. For example, if you suddenly wanted to renew your fleet of vehicles and it was uncomfortable to withdraw the full amount of traffic and savings, even if formally there was such an opportunity. You took about a few thousand dollars for six months for an iPhone. You can afford to take out a payday loan. You could take it for a wedding so as not to be afraid of desires, which is about 700,000 for three years.

A personal loan is a practical tool if it is not coerced. If credit money helps accelerate the rate of capital growth or get the feeling now and pay it back later, then that’s a good reason to agree to take out a payday loan.

8. In order not to choose what to buy

When repairing an apartment, money is needed for plastic windows or TV. Suppose you need to borrow several thousand dollars for a television. Let’s say it would be a shame if you gave more than five thousand a month, but the way of life will not change. It is likely that you will not regret having taken out a personal loan. Nevertheless, in the future, think about how you could save in advance.

9. To spend money on the most important

Suppose you have taken out many small loans that could amount to hundreds of dollars. You close one and immediately organize the next, for example for studies, treatment, travel, expensive furniture or equipment. In general, for whatever is most important. Additionally, you can use a credit card with a limit of a few thousand. Loans are always closed ahead of schedule in two or three months while spending money on useful and necessary things that you could not save for in any way and not on momentary pleasures like a bottle of expensive alcohol or unnecessary clothes.

10. When there are no other options

Let’s say the roof of your house was in a terrible state. Suppose an urgent repair is needed, but it would be impossible to save such an amount even if the whole family saved the entire salary. Then a payday loan is a very good option.

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Guest Comment: To keep housing affordable in Ohio, look beyond Airbnb | Reviews | Cincinnati https://rglb.org/guest-comment-to-keep-housing-affordable-in-ohio-look-beyond-airbnb-reviews-cincinnati/ Wed, 23 Feb 2022 15:23:37 +0000 https://rglb.org/guest-comment-to-keep-housing-affordable-in-ohio-look-beyond-airbnb-reviews-cincinnati/ Photo: Hailey Bollinger Airbnb regulars love the Cincinnati skyline. Last week, Representatives Sarah Fowler Arthur and Ron Ferguson along with 27 co-sponsors introduced HB 563 – a bill to limit the ability of local governments to regulate the operation of short-term rental services like Airbnb. Airbnb has become a convenient scapegoat for local decision-makers concerned […]]]>

Photo: Hailey Bollinger

Airbnb regulars love the Cincinnati skyline.

Last week, Representatives Sarah Fowler Arthur and Ron Ferguson along with 27 co-sponsors introduced HB 563 – a bill to limit the ability of local governments to regulate the operation of short-term rental services like Airbnb.

Airbnb has become a convenient scapegoat for local decision-makers concerned about housing prices in their neighborhoods. Airbnb opponents say people who rent out their homes or properties using the app are taking up space that could be taken up by long-term accommodations, restricting housing supply and driving up prices .

These arguments are not completely wrong. A study of Airbnb’s impact on house prices found that a 1% increase in Airbnb listings leads to a 0.018% increase in rents and a 0.026% increase in house prices. This means that if you pay $1,000 per month for your apartment, you will pay 18 cents more per month on your rent if the Airbnb listing rate increases by 1%. If the number of Airbnbs in the area doubled, you would have to pay an extra $18.

There are impacts, but they are minimal. But what are the costs of making it harder to use Airbnb in Ohio?

I have personally felt the impact of efforts to restrict Airbnb use here in Columbus. When I started my policy analysis practice in 2018, I was starting from scratch, having never run my own business before. Part of my strategy to make ends meet was to rent my apartment through Airbnb and stay with my parents or friends a few weekends a month. This ended up being a key part of what got my business off the ground.

In 2019, the city of Columbus began passing legislation to control Airbnb use, in part at the behest of local hotel companies who were being undermined by the affordability and convenience of short-term rentals relative to their old model. A policy put in place by Columbus was to prohibit tenants from using Airbnb without written permission from their landlords, presumably to protect the interests of landlords who wanted more control over tenants and their spaces.

It put me out of work as an Airbnb host in my home. I ended up buying a house, seeing that being able to rent out my own space with Airbnb would offset the higher cost of owning versus renting. But shortly after my purchase, the pandemic hit. I have yet to host through Airbnb at my new home.

Some things lined up to keep my head above water. The Paycheck Protection Program helped my small business survive the first scary months of COVID-19. Eventually business picked up for me and the need for Airbnb subsided. I was lucky.

There are certainly reasons to want to regulate Airbnb and other short-term rentals. HB 563 provides exceptions for local governments to continue to regulate short-term rentals for public health, safety and nuisance purposes. It makes sense for local governments to protect neighbors from Airbnb’s impact, especially in the presence of malicious actors, if they present direct harm.

But ultimately, Airbnb is a borderline case when it comes to housing affordability. Reforming old zoning codes, property taxation and grant structures will do much more for affordability than restricting short-term rentals. But it’s always easier to mobilize against a scapegoat.

Rob Moore is the director of Scioto Analysis, a public policy analysis firm based in Columbus.

This commentary was originally published by The Ohio Capital Journal and is republished here with permission.

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Cofinimmo: will build a new nursing and care home in Elche (Spain) https://rglb.org/cofinimmo-will-build-a-new-nursing-and-care-home-in-elche-spain/ Thu, 17 Feb 2022 16:48:23 +0000 https://rglb.org/cofinimmo-will-build-a-new-nursing-and-care-home-in-elche-spain/ PRESS RELEASE Brussels, embargo until 17.02.2022, 5.40 p.m. CET Cofinimmo will build a new nursing and care home in Elche (Spain) Cofinimmo (Euronext Brussels: COFB) has acquired land in the autonomous community of Valencia. The site will see the construction of a new rest and care home. The investment budget (including land and works) amounts […]]]>

PRESS RELEASE

Brussels, embargo until 17.02.2022, 5.40 p.m. CET

Cofinimmo will build a new nursing and care home in Elche (Spain)

Cofinimmo (Euronext Brussels: COFB) has acquired land in the autonomous community of Valencia. The site will see the construction of a new rest and care home. The investment budget (including land and works) amounts to approximately 8 million euros. The site is pre-let to Grupo Casaverde, one of the main operators of neurological rehabilitation as well as care and well-being for dependent elderly people in Spain.

Jean PierreHanin, CEO of Cofinimmo: “With this new development project, Cofinimmo continues to participate actively in the expansion and renewal of the healthcare real estate portfolio in Europe. It also allows us to enter into a partnership with Grupo Casaverde, a major player in the management of dependent elderly people in Spain.”

1

PRESS RELEASE

Brussels, embargo until 17.02.2022, 5.40 p.m. CET

1. The site

The new rest and care home will be located in Elche, in the province of Alicante and the autonomous community of Valencia. With a population of over 230,000, Elche is the second largest city in the province and the third largest city in the autonomous community.

The complex will be located close to downtown Elche and the El Palmeral municipal park. It will be easily accessible by public transport. The new nursing and care home will also play an important role in the region as it will help meet the growing need for care facilities for dependent elderly people in the province of Alicante.

After the works, the site will offer an area of ​​around 6,000 m² and around 150 beds spread over a ground floor and 4 upper floors. The rest and care home will have more than 80% single rooms which will be divided into co-living units. The entire building is designed for the well-being of residents. With this building, Cofinimmo is aiming for level A energy performance.

2. The transaction

Cofinimmo has acquired, through a subsidiary, land in the province of Alicante. The site will see the construction of the aforementioned rest and care home. The investment budget (including land and works) amounts to approximately 8 million euros.

Construction work will start soon as part of a turnkey project, and the delivery of the new nursing and care home is currently scheduled for the fourth quarter of 2023.

The amounts corresponding to the construction work will be paid according to the progress of the work.

A triple fillet1 lease was concluded with the operator Grupo Casaverde for a period of 25 years. The rent will be indexed annually according to the Spanish consumer price index. The gross rental yield is in line with current market conditions.

3. The operator-tenant

Grupo Casaverde is one of the main players in neurological rehabilitation as well as in the care and well-being of dependent elderly people in Spain. Grupo Casaverde works under 4 clearly differentiated lines: (i) neurological rehabilitation hospitals; (ii) rest and care homes; (ii) housing for functional diversity; (iv) home care.

The establishments of Casaverde have nursing care, daily specialized medical assistance and multidisciplinary treatments provided by a team of psychologists, physiotherapists, social workers, nursing assistants, speech therapists and occupational therapists.

In Spain, the group operates 16 establishments where more than 800 professionals take care of more than 1,900 people, whether they are residents or patients in physical and neurological rehabilitation.

1 Insurance, taxes and maintenance are the responsibility of the tenant.

2

PRESS RELEASE

Brussels, embargo until 17.02.2022, 5.40 p.m. CET

For more information:

Philippe Etienne

Lynn Nachtergaele

Yeliz Bicici

External Communication Manager

Head of Investor Relations

CEO

Phone. : +32 2 373 60 32

Phone. : +32 2 777 14 08

Offices & Property Development

petienne@cofinimmo.be

lnachtergaele@cofinimmo.be

Phone. : +32 2 373 00 00

About Cofinimmo:

Cofinimmo has been acquiring, developing and managing rental properties for almost 40 years. The company has a portfolio split between Belgium, France, the Netherlands, Germany, Spain, Finland, Ireland, Italy and the United Kingdom, worth around 5 .6 billion euros. Attentive to social developments, Cofinimmo’s mission is to provide its partner-tenants with quality healthcare, living and working environments, from which the users benefit directly. “Care, live and work – together in real estate” is the expression of this mission. Thanks to its expertise, Cofinimmo has built up a healthcare real estate portfolio of around EUR 3.6 billion in Europe.

As an independent company applying the highest standards of corporate governance and sustainable development, Cofinimmo offers its tenants services and manages its portfolio thanks to a team of approximately 145 employees in Brussels, Paris, Breda, Frankfurt and Madrid.

Cofinimmo is listed on Euronext Brussels (BEL20) and benefits from the REIT regime in Belgium (SIR), France (SIIC) and the Netherlands (FBI). Its activities are supervised by the Financial Services and Markets Authority (FSMA), the Belgian regulator.

As at 31.01.2022, the total market capitalization of Cofinimmo amounted to approximately 4.1 billion EUR. The company applies an investment policy aimed at offering socially responsible, long-term, low-risk investment that generates a regular, predictable and growing dividend.

www.cofinimmo.com

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US is approaching a phase where ‘covid is not a crisis,’ White House official says https://rglb.org/us-is-approaching-a-phase-where-covid-is-not-a-crisis-white-house-official-says/ Wed, 16 Feb 2022 18:54:36 +0000 https://rglb.org/us-is-approaching-a-phase-where-covid-is-not-a-crisis-white-house-official-says/ Fifty million free home coronavirus test kits have been shipped to American households, White House officials said Wednesday, and more efforts are underway to bolster the country’s testing supply. The kits available include 200 million tests, as each kit contains four, and represent about 85% of initial orders, White House coronavirus response coordinator Jeff Zients […]]]>

Fifty million free home coronavirus test kits have been shipped to American households, White House officials said Wednesday, and more efforts are underway to bolster the country’s testing supply.

The kits available include 200 million tests, as each kit contains four, and represent about 85% of initial orders, White House coronavirus response coordinator Jeff Zients said during a press briefing. The remaining orders will be shipped in the coming days, he added.

“It’s an unprecedented effort,” Zients said. “There’s been incredibly strong demand and incredibly strong execution, shipping 200 million tests straight to Americans’ doorsteps.”

Also on Wednesday, federal officials said they issued a formal request for information from the testing industry in an effort to boost manufacturing and capacity in the United States for the coming year.

Tom Inglesby, national coronavirus testing coordinator, said the request was intended to offer solutions to market volatility and supply chain issues. It also asks what is needed to scale up manufacturing and develop new technologies.

White House officials will use this information to develop a long-term testing strategy, knowing that demand will decline as the omicron push recedes. Testing will remain essential to the US response to the pandemic, Inglesby said, and the steps being taken now will help bolster the country’s testing infrastructure.

“We are taking steps now to maintain and expand national testing capacity in this country,” he said. “And we will be ready if we face a new variant or a new push in the future.”

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Coronavirus briefing: Omicron’s death toll https://rglb.org/coronavirus-briefing-omicrons-death-toll/ Wed, 02 Feb 2022 22:19:29 +0000 https://rglb.org/coronavirus-briefing-omicrons-death-toll/ A higher death rate In the early stages of Omicron’s push, US health officials looked at how other countries were weathering the new variant’s worst effects and were reassured. But as the Omicron wave begins to subside, we’re getting a fuller picture of how the United States fared in the last wave — and the […]]]>

In the early stages of Omicron’s push, US health officials looked at how other countries were weathering the new variant’s worst effects and were reassured. But as the Omicron wave begins to subside, we’re getting a fuller picture of how the United States fared in the last wave — and the data is sobering.

Compared to other rich countries, the coronavirus in the United States is killing people at much higher rates. Since December 1, when the first case of Omicron was detected in the United States, the share of Americans who have been killed by the coronavirus has been at least 63% higher than in any other major wealthy country. , according to a Times analysis of mortality. The figures.

In recent months, the United States has overtaken Britain and Belgium to have, among rich countries, the largest share of its population to have died from Covid during the entire pandemic.

Hospital admissions in the United States have also reached much higher rates than in Western Europe, leaving some states struggling to provide care. Americans are now dying from Covid at nearly double the daily rate of Britons and four times the rate of Germans.

The only major European countries to top US Covid death rates this winter were Russia, Ukraine, Poland, Greece and the Czech Republic, poorer nations where the best Covid treatments are relatively scarce.

One of the main reasons for this discrepancy is the vaccination rate in the United States. Despite having one of the most potent vaccine arsenals in the world, the country has failed to vaccinate as many people as other major wealthy nations.

The United States has fallen further behind in administering booster shots.

Importantly, vaccination rates among the elderly also lag behind some European countries. Twelve percent of Americans age 65 and older haven’t been fully vaccinated, according to CDC statistics. And 43% of people aged 65 and over did not receive a reminder.

In England, on the other hand, only 4% of people aged 65 and over have not been fully vaccinated and only 9% have not received a booster. Many Americans also have health conditions like obesity and diabetes that increase the risk of severe Covid.

Vaccination and booster campaigns in Western Europe resulted in much more manageable waves. Deaths in Britain, for example, are a fifth of last winter’s peak and hospital admissions are about half as high.

Scientists said some deaths could still be prevented by taking precautions, like testing and wearing masks, around older, more vulnerable Americans.

Some lawmakers, health officials and experts are desperate to turn the page on the pandemic – calling for a return to normalcy, especially as we look beyond Omicron. But the toll of future waves will depend on what other variants emerge, the scientists said, as well as what level of mortality Americans find tolerable.

“We have normalized a very high death toll in the United States,” said Anne Sosin, who studies health equity at Dartmouth. “If we want to declare the end of the pandemic right now, what we’re doing is normalizing a very high death rate.”


Vaccines given by injection produce strong and long-lasting immunity against serious diseases. But a potential downside is that their protection against infection is temporary, especially as the virus evolves. That’s why some experts talk about the need for regular reminders.

So is there a better way?

Yes, my colleague Apoorva Mandavilli reported from India, where she looked into Bharat Biotech’s experimental nasal vaccine.

Nasal vaccines may be the best way to prevent long-term infections because they provide protection exactly where it’s needed to ward off the virus: the mucous membranes of the respiratory tract, where the coronavirus first takes hold.

But that’s not all. Nasal or oral vaccines can immunize entire populations faster than injections, which require skill and time to administer. They are also more palatable to many, including children, than painful pricks, and would prevent shortages of needles and other materials.

As we learned with Omicron, even three doses of a vaccine may not prevent infection. Indeed, injected vaccines produce antibodies in the blood, relatively few of which reach the nose, the entry point for the virus. This is not the case with mucosal vaccines, which instead coat the mucous surfaces of the nose, mouth, and throat with long-lasting antibodies.

“It’s essentially the difference between planting sentries at the gates to keep intruders out and trying to drive them out after they’ve already stormed the castle,” Apoorva wrote.



We are fully vaccinated and have the booster. We have done our patriotic duty to protect ourselves, our loved ones and our community. After two years of the pandemic, we have now decided not to live our lives focusing on the impact the unvaccinated will have on us and instead we live our lives without fear of catching Covid. We used to have sympathy for the unvaccinated death of Covid, but now we just see it as the consequence of poor judgment. With the vaccine and the booster, we know we can safely get back to “normal”.

— Tina Mills, Murrieta, California.

Let us know how you are coping with the pandemic. Send us an answer here, and maybe we’ll feature it in a future newsletter.

Sign up here to receive the briefing by email.


Email your thoughts to briefing@nytimes.com.

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