Connect with us

News

Cubic and Moovit to Redefine Mobile Engagement for Travelers

gbafNews28

Cubic Corporation (NYSE:CUB) today announced its Cubic Transportation Systems (CTS) business division, the worlds leading fare collection solution provider, is expanding its partnership with Moovit “ an Intel company, a leading Mobility-as-a-Service (MaaS) solutions company and the maker of the number one urban mobility app “ to further co-develop mobile experiences that enable travelers to ˜look, book and pay for multi-modal journeys. This expansion follows the initial partnership announcement in January 2020 integrating Moovits MaaS APIs with Cubics Traveler app.

The two companies are now bringing their collaboration to Cubics advanced market-leading MaaS offerings for public transit agencies of any size. These solutions include Cubics account-based Urban Mobility Back Office; cloud-based ticketing solution, TouchPass; real-time passenger information system, NextBus; loyalty, incentive and advertising platform, Cubic Interactive; and Cubics MaaS Marketplace.

The extended partnership will leverage Cubics innovative mobile payment and fare collection technologies, and Moovits robust multi-modal journey planner to create a platform that offers travelers a seamless and frictionless mobile experience. This includes planning, ticketing and fare collection, step-by-step journey guidance and more. The platform is built to grow public transit ridership, reduce congestion and improve the travel experience, by also integrating real-time arrival information, digital engagement and incentives, and operator intelligence. The platform also includes robust customer communications tools, empowering agencies with the ability to communicate with their ridership via targeted in-app messages and push notifications.

The new solutions and platform will be made available to existing customers of Cubic and Moovit “ enriching the user experience for both “ and will also be promoted into new markets collaboratively.

We are excited to further collaborate with Moovit in offering digital solutions that will redefine the future of urban mobility for travelers around the world, said Jeff Lowinger, president of Cubic Transportation Systems. As digital, mobile and platform technology continues to change the transportation landscape, we will deliver seamless, user-centric solutions that will improve the way travelers move through their cities.

Enhancements will be made to Cubics mobile user experiences by leveraging Moovits urban mobility and transit data expertise combined with Cubics vehicle- and agency-generated real-time transportation data. Additionally, enhancements to Cubics TouchPass Fare Collection-as-a-Service digital platform will include an integrated look, book and pay functionality.

Currently, the trip planning and payment process of public transportation is largely disjointed, resulting in rider confusion and uncertainty, said Nir Erez, co-founder and CEO of Moovit. Enabling people to plan and pay for mobility services “ through one app “ makes getting around much easier, and will help shift them from using private cars to public and shared transportation. We look forward to growing our partnership with Cubic and co-creating solutions to make transit frictionless for riders everywhere.

Cubic and Moovits traveler-focused solutions will further support Cubics NextCity„¢ vision and be a substantial advancement in the world of MaaS. To learn more, click here.

About Cubic Corporation

Cubic is a technology-driven, market-leading provider of integrated solutions that increase situational understanding for transportation, defense C4ISR and training customers worldwide to decrease urban congestion and improve the militaries effectiveness and operational readiness. Our teams innovate to make a positive difference in peoples lives. We simplify their daily journeys. We promote mission success and safety for those who serve their nation. For more information about Cubic, please visit www.cubic.com or on Twitter @CubicCorp.

About Moovit

Moovit (www.moovit.com), an Intel company, is a leading Mobility as a Service (MaaS) solutions company and the maker of the #1 urban mobility app. Moovit was acquired by Intel in May 2020 to join forces with Mobileye and advance its MaaS strategy. Together, Moovit and Mobileye will accelerate the global adoption of autonomous transportation.

Moovits iOS, Android and Web app guides people in getting around town effectively and conveniently, using any mode of transport. Introduced in 2012, Moovit now serves over 800 million users in 3,200 cities across 104 countries.

Moovit amasses up to six billion anonymous data points a day to add to the worlds largest repository of transit and urban mobility data. For governments, cities, transit agencies, and private companies. Moovit offers AI-powered MaaS solutions covering planning, operations and optimization with proven value in reducing congestion, growing ridership, and increasing efficiency. Industry leaders such as Microsoft, Uber and Cubic have partnered with Moovit to power their mobility offerings.

Laura Chon

Corporate Communications

Cubic Corporation

PH: +1 858-505-2181

[email protected]

Sharon Kaslassi

PR Manager

Moovit

PH: +972-54-484-1405

[email protected]

News

Lument Provides $21.5 Million in Freddie Mac Financing for Affordable Housing in El Paso

gbafNews28

NEW YORK, Dec. 2, 2020 /PRNewswire/ — Lument, a national leader in commercial real estate finance,   announced today that it provided a $21.5 million Freddie Mac unfunded forward commitment loan to facilitate the substantial renovation of Jackie Robinson Memorial Apartments, an affordable multifamily property in El Paso, Texas.  Lument is the combined organization of legacy industry experts Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group.

“By combining the Freddie Mac unfunded forward loan with tax credit equity and other soft funding sources, we were able to put in place an attractive debt structure to help improve these much-needed affordable apartments,” said Josh Reiss, director at Lument.

Originally built in 1975, Jackie Robinson is a 186-unit, 4% low-income housing tax credit (LIHTC) community in the Housing Authority of the City of El Paso (HACEP) portfolio. As part of the transaction, the property will receive Section 8 assistance that will facilitate the conversion to long-term, project-based voucher (PBV) rental assistance. Subsequently, all 186 units will be restricted to tenants earning income at or below 60% area median income (AMI).

The $21.5 million Freddie Mac loan features a low, fixed interest rate, 18-year term with three years of interest only, and a 35-year amortization schedule. The forward commitment term will be 30 months with one six-month extension.

Jackie Robinson will undergo substantial interior and exterior construction, including a gut renovation of all residential units, from new drywall to new kitchen appliances. In addition, exteriors will be improved with new windows and doors, repaired or replaced roofs, and new stair towers.

Construction began in October 2020 and is expected to be complete within 24 months.

Mr. Reiss and the Lument team have financed over 960 units in partnership with HACEP, totaling $41 million. Since 2015, the team has financed over $565 million in RAD transactions for a total of approximately 6,500 units.

About Lument
ORIX Real Estate Capital Holdings, LLC, d/b/a Lument, is a subsidiary of ORIX Corporation USA. Lument is a national leader in commercial real estate finance. As the combined organization of legacy industry experts Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group, Lument delivers a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA, and USDA lender. In addition, Lument offers a suite of proprietary commercial lending, investment banking, and investment management solutions. Lument has approximately 600 employees in over 25 offices across the United States. Securities, investment banking, and advisory services are provided through OREC Securities, LLC, d/b/a Lument Securities. Member FINRA/SIPC. For more information, visit www.lument.com.

MEDIA CONTACT                                                                                                           
Michael Ratliff | Marketing Director
212-588-2163 | [email protected]

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/lument-provides-21-5-million-in-freddie-mac-financing-for-affordable-housing-in-el-paso-301183891.html

SOURCE Lument

Continue Reading

News

Most Americans Ill-Equipped in Financial Retirement Planning: MoneyRates Survey

gbafNews28

FOSTER CITY, Calif., Dec. 2, 2020 /PRNewswire/ — Many Americans may be steering the Titanic without a map when it comes to retirement finances. A new MoneyRates.com survey finds a significant portion of the population understands very little about retirement planning and lacks essential information to make the right moves.  

The personal finance website polled 1,000 Americans who are either within 20 years of retirement age or have already reached that age. The results reveal roughly two-thirds of respondents haven't made any kind of projection of how their savings will hold up in retirement.

“A person's savings is a basic building block of retirement planning,” remarks Richard Barrington, MoneyRates' senior financial analyst and author of the survey. “One needn't be a financial expert to take control of retirement planning. People should take the initiative to get the help they need to feel comfortable with their retirement plan.”

Find the full study here: Investor Aptitude: Are You Ready to Manage Your Retirement Finances?

Key survey findings:

  • Most respondents (54.90%) haven't formulated a monthly budget for what they could afford to spend in retirement.
  • About one in four (25.80%) expect their retirement savings would last less than five years.
  • Nearly a quarter (23.10%) say if their retirement savings fall short, they'd simply go back to work again.
  • While just 20.95% of people who haven't started collecting Social Security intend to begin taking those benefits at age 62, well over twice as many – 49.28% – of those who had begun collecting Social Security did so at age 62.
  • A third of survey respondents (33.30%) admit they do not know much about retirement planning concepts.
  • Of the respondents who own stocks, more than a quarter (26.86%) don't know what percentage of their retirement savings those stocks represent.

“Stocks are the riskiest of all investments people own,” adds Barrington, “so it's rather shocking that roughly a quarter of those responding to our survey don't know how much they own in stocks.”

Since these survey results make it clear that many Americans need help with retirement planning decisions, MoneyRates suggests consumers use its resources, such as a retirement savings calculator and a guide on understanding robo advisors for assistance.

Methodology

MoneyRates commissioned a survey of 1,000 people, half aged 65 or above and half between the ages of 45 and 64. Thus, half of respondents had reached the traditional retirement age and half were within 20 years of reaching that age. Questions were designed to explore key retirement-planning decisions people face before and after they retire.

Barrington is available for interviews and can discuss this survey and many other issues related to personal finance.

About MoneyRates

MoneyRates is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a leader in providing performance marketplace technologies and services to the financial services and home services industries. QuinStreet is a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. The company is committed to providing consumers with the information and tools they need to research, find and select the products and brands that meet their needs. MoneyRates is a member of QuinStreet's expert Research and Publishing Division.

Since 1998, MoneyRates has served as a personal finance resource designed to help readers make the most of their money. In addition to a variety of financial calculators, MoneyRates.com researches and tracks CD, savings, and money market rates offered from over 400 financial institutions across the country to offer expert advice on banking, investing and retirement planning.

Twitter: @MoneyRates
Facebook: www.facebook.com/MoneyRatesdotcom

Media contact

Charlene Arsenault
Media Outreach Specialist
[email protected]
Direct +1-508-832-8918
LinkedIn

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/most-americans-ill-equipped-in-financial-retirement-planning-moneyrates-survey-301183086.html

SOURCE MoneyRates.com

Continue Reading

News

IPC Partners with Greenprint Capital to expand the Solar PPA offer throughout the United States

gbafNews28

ROCKY HILL, Conn., Dec. 2, 2020 /PRNewswire-PRWeb/ — Inclusive Prosperity Capital, Inc. (IPC), a mission-driven specialty finance organization working at the intersection of community development, clean energy finance, and climate impact is pleased to announce the closing of a tax equity partnership with San Diego-based Greenprint Capital, as well as a debt facility with the Connecticut Green Bank. Having launched these two partnerships, IPC is now able to acquire, develop, construct, and operate distributed solar projects throughout the United States. IPC's solar Power Purchase Agreement (PPA) provides direct financial savings to customers in underserved markets – small-scale commercial properties, houses of worship, affordable multifamily housing, and non-profits. IPC can be flexible to accommodate most commercial or community-scale customers.

“Launching a solar PPA platform has been a major component of IPC's strategy since our formation in 2018. Building on the many years in which our staff supported the Connecticut Green Bank's solar PPA program in Connecticut, IPC is well-positioned to deliver energy-saving solar PPAs to customers who might otherwise be overlooked by traditional financiers. We are thrilled to be partnering with Greenprint Capital and Connecticut Green Bank to achieve this major milestone in IPC's growth,” said Kerry O'Neill, IPC's Chief Executive Officer.

IPC's first four solar projects are in Connecticut, acquired from the Connecticut Green Bank, and include two schools, an Islamic center and a Boys and Girls Club. The projects total 495 kW and are anticipated to save the customers approximately $20,000 in their first year of operation. IPC's first four solar customers include:

  • Boys and Girls Club of the Lower Naugatuck Valley – 127 kW Rooftop Project
  • Bridgeport Islamic Community Center – 75 kW Rooftop Project
  • The Country School – 107 kW Rooftop Project
  • Washington Montessori School – 186 kW Rooftop Project

Bert Hunter, Connecticut Green Bank's Chief Investment Officer noted, “IPC will be one of our key partners in continuing to serve the Connecticut solar market. With this latest round of financing, we are confident IPC has the tools needed to manage the solar PPA partnership throughout the state of Connecticut and beyond. We are eager to see IPC replicate and expand upon the success the Connecticut Green Bank has had in creatively de-risking projects to provide access to previously credit-challenged potential solar customers.”

Antoine Bishara, Principal at Greenprint Capital, said, “IPC's focus on de-risking solar projects in underserved markets is a great fit for Greenprint's approach to tax equity investment. We see Greenprint's role in the market as leveraging our efficiency to lower financing costs and unlock the small and medium scale distributed solar market for tax investors. That efficiency is even more important when it results in lower PPA prices for important community organizations like IPC's customers.”

John D'Agostino, Director of Financing Programs at IPC said, “we are very excited about our first four projects in Connecticut and are grateful for the opportunity to serve four organizations whose missions align with our own. The Solar PPA projects will help these customers continue to provide a wide array of services to their communities. Greenprint's nimble and efficient approach to tax equity financing is a major reason we're able to make this possible. This partnership will allow IPC to provide financing solutions to commercial and community solar developers as well as energy savings to their customers. We hope to remain long-term partners and bring the success we've achieved with Greenprint in Connecticut to IPC's pipeline of solar projects throughout the country.”

About Greenprint Capital:
Greenprint is a professional advisory and consulting firm focused on structured tax credit and preferred equity investments in renewable energy projects. Greenprint and its financial partners invest in and support infrastructure development activities and seeks to serve all stakeholders involved

About the Connecticut Green Bank:
The Connecticut Green Bank was established by the Connecticut General Assembly on July 1, 2011 as a part of Public Act 11-80. As the nation's first full-scale green bank, its mission is to confront climate change and provide all of society a healthier, more prosperous future by increasing and accelerating the flow of private capital into markets that energize the green economy. This is accomplished by leveraging limited public resources to scale-up and mobilize private capital investment into Connecticut. In 2017, the Connecticut Green Bank received the Innovations in American Government Award from the Harvard Kennedy School Ash Center for Democratic Governance and innovation for their “Sparking the Green Bank Movement” entry. For more information about the Connecticut Green Bank, please visit http://www.ctgreenbank.com.

About Inclusive Prosperity Capital:
Inclusive Prosperity Capital, Inc. (“IPC”) is a not-for-profit investment fund scaling clean energy financing solutions that channels investment capital to program partners in communities that need it most. As a spin-out and strategic partner of the Connecticut Green Bank, IPC is focused on scaling its work in Connecticut and expanding its successful model nationwide by accessing mission-driven capital and partnerships. IPC operates at the intersection of community development, clean energy finance, and climate impact. We believe everyone should have access to the benefits of clean energy, helping to deliver Inclusive Prosperity.

Media Contact

Madeline Priest, Inclusive Prosperity Capital, +1 860-257-2891, [email protected]

 

SOURCE Inclusive Prosperity Capital

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
gbafNews28 gbafNews28
News34 mins ago

Lument Provides $21.5 Million in Freddie Mac Financing for Affordable Housing in El Paso

NEW YORK, Dec. 2, 2020 /PRNewswire/ — Lument, a national leader in commercial real estate finance,   announced today that it...

gbafNews28 gbafNews28
News34 mins ago

Most Americans Ill-Equipped in Financial Retirement Planning: MoneyRates Survey

FOSTER CITY, Calif., Dec. 2, 2020 /PRNewswire/ — Many Americans may be steering the Titanic without a map when it comes to...

gbafNews28 gbafNews28
News34 mins ago

Former SEC Senior Counsel Strengthens McDermott's Investigation & Litigation Bench

BOSTON, Dec. 2, 2020 /PRNewswire/ — International law firm McDermott Will & Emery continues to grow its litigation footprint with the addition...

gbafNews28 gbafNews28
News34 mins ago

Edward Jones Named One of the 2020 Best Workplaces for Parents™ by Great Place to Work® and FORTUNE Magazine

ST. LOUIS, Dec. 2, 2020 /PRNewswire/ — Financial-services firm Edward Jones has been named one of the 2020 Best Workplaces for...

gbafNews28 gbafNews28
News34 mins ago

IPC Partners with Greenprint Capital to expand the Solar PPA offer throughout the United States

ROCKY HILL, Conn., Dec. 2, 2020 /PRNewswire-PRWeb/ — Inclusive Prosperity Capital, Inc. (IPC), a mission-driven specialty finance organization working at the...

gbafNews28 gbafNews28
News35 mins ago

Synergetics' OpenFLIS Prioritized To Go Through The JAB Authorization Process

FORT COLLINS, Colo., Dec. 2, 2020 /PRNewswire/ — The Joint Authorization Board (JAB), consisting of the Chief Information Officers from...

gbafNews28 gbafNews28
News35 mins ago

Sole Source Capital-Backed Supply Chain Services Acquires Coridian Technologies, Inc.

SANTA MONICA, Calif., Dec. 2, 2020 /PRNewswire/ — Sole Source Capital LLC (“Sole Source” or the “Firm”), an industrial-focused private...

gbafNews28 gbafNews28
News35 mins ago

Private equity remains resilient in the face of pandemic-induced volatility

NEW YORK, Dec. 2, 2020 /PRNewswire/ — Published today, 2021 Global Private Equity Outlook, a report produced by global law...

gbafNews28 gbafNews28
News35 mins ago

Deep Water Point Identified as one of the National Capital Region's “Best Places To Work”

ANNAPOLIS, Md., Dec. 2, 2020 /PRNewswire/ — Deep Water Point, a management consulting firm in the Washington DC National Capital Region (NCR) has been...

gbafNews28 gbafNews28
News35 mins ago

Port Logistics Group Announces New Northeast Regional Office Opening

LOS ANGELES, Dec. 2, 2020 /PRNewswire/ — Port Logistics Group, one of the nation's leading providers of omnichannel logistics services, announced...