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

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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]

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SOURCE Lument

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BBVA Research publishes its first quarter U.S. Economic Outlook

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HOUSTON, Jan. 25, 2021 /PRNewswire/ — The BBVA Research team has published its Economic Outlook for first quarter 2021, noting that a post-holiday surge in COVID-19 cases and a vaccine rollout that is falling short of expectations have confirmed the need for further stimulus. 

The report, published by the BBVA Research team headed by BBVA Chief Economist Nathaniel Karp, continues to highlight the ongoing economic impact of the pandemic, as well as the recent election. According to its authors, the mining and leisure & hospitality industries continue to struggle harder to recover compared to other industries. While the transportation industry remains acutely impacted, higher oil prices are supporting the oil and gas industry.

Residential real estate has been supported by low interest rates and low supply according to the report, but commercial real estate trends continue to be exacerbated by the pandemic. Consumer consumption is also losing steam due to COVID-19.

The greatest source of potential economic shocks over the next 12-18 months remains political uncertainty and corporate defaults, generating both short- and long-term uncertainties. The political turmoil also adds to upward pressures on long-term rates, according to the report.

The report further notes that labor force participation and unemployment rates continue to be negatively impacted, with Black and Hispanic Americans disproportionately impacted. Women in the workforce also remain hard-hit by the impact of the pandemic, according to the economic outlook.

The BBVA Research publication further delves into the new fiscal stimulus package proposed by the Biden Administration, the economic impact of additional components of its agenda, and inflation. 

BBVA USA's research team analyzes the U.S. economy and Federal Reserve monetary policy. For its analyses, the economists create models and forecasts for growth, inflation, monetary policy and industries. The Economic Research team also follows a variety of issues that affect the Sunbelt states where BBVA USA operates. Follow their work on Twitter @BBVAResearch and @BBVANews_USA.

Read the full report here.

See the complete library of BBVA Research publications here.

For more BBVA news visit, www.bbva.com and the U.S. Newsroom.

Additional news updates can be found via Twitter and Instagram.

For more financial information about BBVA in the U.S., visit bbvausa.investorroom.com.

BBVA Group
BBVA (NYSE: BBVA) is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market, is the largest financial institution in Mexico, it has leading franchises in South America and the Sunbelt Region of the United States. It is also the leading shareholder in Turkey's Garanti BBVA. Its purpose is to bring the age of opportunities to everyone, based on our customers' real needs: provide the best solutions, helping them make the best financial decisions, through an easy and convenient experience. The institution rests in solid values: Customer comes first, we think big and we are one team. Its responsible banking model aspires to achieve a more inclusive and sustainable society.

BBVA USA
In the U.S., BBVA is a Sunbelt-based financial institution that operates 641 branches, including 330 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 44 in Florida, 37 in Colorado and 17 in New Mexico. The bank ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). In the U.S., BBVA has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranked 8th nationally in terms of dollar volume of SBA loans originated in fiscal year 2018.

 

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SOURCE BBVA USA

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Huntkey Presents at the All-Digital CES 2021

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SHENZHEN, CHINA – Media OutReach – 14 January 2021 – Huntkey, a leading provider of power solutions, announces that today it presents at the All-digital CES 2021, the most influential tech event in the world.

 

Due to the covid-19 pandemic, the world’s largest electronics sourcing fair CES 2021 will be held all digitally from Jan. 11-14, 2021. During this period, all the exhibitors can access to the digital platform developed by CES to showcase their new products and technologies as well as schedule meetings with the attendees.

 

Huntkey is a frequenter of CES. To take this once-a-year opportunity, Huntkey will introduce its PD Chargers, Surge Protectors, Power Strips, LED Desk Lamps as well as other product categories to the attendees.

 

PD Chargers

 

PD charger is a main product category of Huntkey, and many mainstream cell phone brands are using Huntkey chargers. Huntkey has developed a wide variety of cell phone chargers output power of which is designed from 20 to 90W. To meet different charging needs, several models are equipped with USB-A and USB-C charging ports, for example, the 65W USB-C charger comes with one USB-C port to deliver a fast charging speed, and two USB-A ports for the charging for traditional phones.

 

Huntkey has also released 65W GaN charger to the markets. The charger features two charging ports – one USB-C port and one USB-A port. The USB-C port is designed for fast charging speed, independently, it can output 5V3A, 9V3A, 12V3A, 15V3A or 20V3.25A, 65W at the maximum. The USB-A port can output 5V3A or 9V3A, 27W at the maximum.

 

Surge Protectors & Power Strips

 

Huntkey is a key player in surge protector and power strip market, it provides multiple types of sockets and plugs, including US, EU, AU, SA and Universal types, as well as different cable length to meet its worldwide customers’ needs.

 

Huntkey’s surge protectors and power strips are made of flame-retardant material, and are warranted with multiple protections to ensure safety, like over-load protection, over-heat protection and over-voltage protection. They are all flame-retardant and equipped with an inside integral copper bar that can be able to withstand high temperatures and save energy. The less energy is consumed, the lower electricity bills will be. All of them come with a 3- year warranty.


LED Desk Lamps

 

Tow models of Huntkey LED desk lamps are available to the markets. Huntkey desk lamps are energy-efficient and eye-protective for home and office use. These desk lamps are integrated with multiple touch-controllable sensors, like step-less dimming bars, wireless chargers, USB charging ports, and alarm clocks. They are well-suited for reading, working or studying.

 

To learn more about Huntkey, please visit: https://en.huntkey.com/

About CES

CES(Consumer Electronics Show) is a world renowned trade show annually held in January at the Las Vegas Convention Center (LVCC) in Las Vegas, Nevada, United States. It is organized by the Consumer Technology Association (CTA) to host presentations of new products and technologies in the consumer electronics industry.

About Huntkey

Founded in 1995, Huntkey is a leading global provider of PC power supplies, power strips, surge protectors, laptop adapters, phone chargers, monitors and air purifiers. Huntkey is an Asia renowned brand, a member of The International Power Supply Manufacturer’s Association (PSMA) and China Power Supply Society (CPSS). Including three total nearly 1,000,000 square meters industrial parks, Huntkey is one of the most famous brands and largest companies in mainland China. It is headquartered in Shenzhen, with branch companies in the US, Japan and Hong Kong, and with cooperating factories in Vietnam, Brazil, Argentina and India.

In 2020, Huntkey introduces its latest photocatalyst air purifier – the desktop air purifier globally. The desktop air purifier is designed portable and it can efficiently remove chemical vapors, odors, haze particles, and many more air pollutants.

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New Inject/Eject Mechanism from Southco Simplifies Installation and Operation with Tool Free Operation

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HONG KONG SAR – Media OutReach – 14 January 2021 – Southco Asia Ltd., a subsidiary of Southco Inc., a leading global provider of engineered access solutions such as locks, latches, captive fasteners, electronic access solutions and hinges/ positioning technology, has introduced a new addition to its successful P7 Inject/Eject series, designed for the popular solid-state drive (SSD) data storage format used in the Telecom and Data Center industries. Southco’s P7-M2 Solid-State Drive Inject/Eject Mechanism features intuitive, tool-free operation, and simple installation and removal of PC boards.

[View Image]

P7-M2 Solid-State Drive Inject/Eject Mechanism

Southco’s P7-M2 Solid-State Drive Inject/Eject Mechanism can be easily installed by inserting it into the PC board and rotating 90 degrees into place. The PC board can then be pressed into place and pushed closed. Easily removed with the push of a button, the P7-M2 Solid-State Drive Inject/Eject Mechanism features a special tab design that absorbs PC board tolerance and eliminates vibration. The P7-M2 Solid-State Drive Inject/Eject Mechanism also complements industrial design, with a button that customized to match application color preferences.

“Tool-free operation is a priority in PC board accessory installation, and our new SSD inject/eject mechanism meets this need with a simple, intuitive installation process,” said Global Product Manager Ike Teng. “The P7-M2 Solid-State Drive Inject/Eject Mechanism is easy to use at every step, from installation to removal.”

About Southco

Southco, Inc. is the leading global designer and manufacturer of engineered access solutions. From quality and performance to aesthetics and ergonomics, we understand that first impressions are lasting impressions in product design. For over 70 years, Southco has helped the world’s most recognized brands create value for their customers with innovative access solutions designed to enhance the touch points of their products in transportation and industrial applications, medical equipment, data centers and more. With unrivalled engineering resources, innovative products and a dedicated global team, Southco delivers the broadest portfolio of premium access solutions available to equipment designers throughout the world.

Southco Asia Limited

2401-2406, Tower 2, Ever Gain Plaza

88 Container Port Road, Kwai Chung

Hong Kong

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