Costa lending – Gran Logia Costa Rica Sat, 09 Oct 2021 04:25:47 +0000 en-US hourly 1 Costa lending – Gran Logia Costa Rica 32 32 NOW tapping into director duo Blinkink for the animation spot Fri, 08 Oct 2021 17:01:00 +0000

TopCashback, a cashback shopping site, has unveiled a new TV spot featuring a cute hummingbird character with the company logo on it. The campaign was the first created in partnership with NOW, a creative agency hired by TopCashback in May 2021.

With suggestive “hmmmmms” and sweet expressions, the hummingbird gives the viewer an unusual yet friendly reminder to shop through TopCashback to save money. The ad aims to show how the cashback site is on the side of its members, giving them a helping hand to reward them for their daily expenses.

The creative agency appealed Blinkduo of directors Adeena Grubb and Andy Biddle, who used stop-motion animation, combining their charm and craftsmanship, painstakingly hand-stitching the ensemble and characters for the memorable place. Take a moment to enjoy Hmmmingbird:

The TV advertising, which will initially air in the UK, is also supported by the radio business. The planning and media buying of the campaign is handled by Mediacom.

“In developing our first campaign for TopCashback, we were inspired by their philosophy and commitment to helping members save money, so we created our hummingbird character with that in mind,” explained the Creative Director. from NOW, Ben da Costa. “Using stop-motion animation was a real labor of love. We put a lot of care, effort and craftsmanship into the ad, and we’re delighted with the vivid visual style, unusual humor, and originality we’ve achieved. Hope it stands out during a normal commercial break.

“When we read this script, we had the impression that our names were everywhere! Noted directors Grubb and Biddle. “Creating a unique look to meet the brief was a challenge. We wanted to use a material or two that weren’t used so much in stop motion animation, and it was difficult to find references to demonstrate what we meant. The combination of matte fabric, carved wood embellishments and super shiny glass eyes did just that and we are very proud of the result.

The duo continued, “The hummingbird (affectionately called Alfie) was a crucial part of this place as it is the TopCashback logo in real life. We had a lot of fun designing it. It had to be the perfect balance between funny and cute and a bit of “frosty weird.” It slowly took shape, feather by feather, and became the TopCashback Hummingbird of all dreams! We love that it still flies like a real hummingbird despite being a bigger guys. It was a really brilliant project to be a part of, the guys at NOW were very confident and awesome to work with. The whole process felt like a big and beautiful collaboration! “

Source: NOW

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Contra Costa Transportation Authority receives $ 400,000 to develop program to fight climate change Wed, 06 Oct 2021 16:40:27 +0000

WALNUT CREEK, CA – The Contra Costa Transportation Authority (CCTA) has received $ 400,000 to develop a Vehicle Mileage Mitigation (VMT) framework that will ultimately help Contra Costa County fight climate change. The more kilometers vehicles travel, the more greenhouse gases and air pollution are emitted into the atmosphere. The VMT Mitigation Framework project aims to help the ACCT to better define, analyze and develop options to mitigate the environmental effects of projects through Contra Costa.

With funding made possible through a sustainable planning grant from the California Department of Transportation, one element of the study will explore the possibility for developers and transportation agencies – whose projects are helping increase VMT – to offset emissions through payment in a “VMT mitigation program”. VMT’s mitigation program funds could then support green projects that help reduce overall VMT in Contra Costa County, generating a positive impact on the climate, environment and public health.

“This groundbreaking study will establish a framework for a more holistic approach to analyzing future development and transportation projects that will not only help local agencies like ours plan for a more sustainable future, but could serve as a model for agencies to. across the state, ”said CCTA Executive Director Timothy Haile.

California Senate Bill 743 (SB 743) reformed the California Environmental Quality Act (CEQA) process to require local jurisdictions to assess the traffic impacts of new developments by measuring VMT, so that environmental impacts related to transportation are tracked to align with the state’s greenhouse gases. emission reduction targets. Undertaking this study is just one of the ways the CCTA is working to mitigate the impact of vehicle kilometers traveled in order to reduce harmful pollutants and greenhouse gas emissions across the country.

The ACTC also brings its expertise to the service of the SB 743 Implementation Working Group, a forward-thinking consortium of agencies providing thought leadership to the state on the subject of VMT mitigation.

About the Contra Costa Transport Authority
The Contra Costa Transportation Authority (CCTA) is a public body formed by the voters of Contra Costa in 1988 to manage the county’s transportation sales tax program and oversee county-wide transportation planning efforts. With a staff of twenty managing a series of multi-billion dollar projects and programs, CCTA is responsible for the planning, financing and delivery of transportation infrastructure projects and programs throughout the county. The ACTC also serves as the county-appointed congestion management agency responsible for implementing programs to manage traffic levels. More information on the CCTA is available at

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B2B Marketplace Tazah Announces Raised $ 2 Million In Pre-Seed Funding To Fix Farm-To-Retail Supply Chain Wed, 06 Oct 2021 09:52:49 +0000

LAHOR: Tazah, a B2B agrotech marketplace connecting farmers directly to retail fruit and vegetable vendors, announced the raising of $ 2 million in pre-seed funding to repair the broken and inefficient agricultural supply chain that is increasing fruit and vegetable prices and leads to post-harvest waste.

The pre-seed round was led by Global Founders Capital and co-led by Zayn Capital. Other participating investors included Ratio Ventures, Walled City Co, i2i Ventures, Suya Ventures, Globivest, Afropreneur Syndicate, +92 Ventures, Sunu Capital, Musha Investments and others.

According to a company statement, the round was oversubscribed and saw participation from local business groups, including Mezan Foods, and notable angel investors, including senior executives from Careem and Swvl, among others.

The problems Tazah seeks to solve

The article continues after this announcement

In a mostly offline agricultural supply chain from farmer to retailer, fresh produce such as fruits and vegetables from farms are sold by farmers to middlemen, who then sell them to wholesalers. Individual retailers buy from wholesalers at an inflated price due to the margins generated by the two players: middlemen and wholesalers.

Retailers then sell it to end consumers, deciding their margins based on where they sell.

According to our own research on the agricultural supply chain, staple vegetables are produced and sold by the farmer at a very low price, while for the end consumer, say in Lahore, the purchase price is inflated. of several multiples. Onions, for example, are sold by the farmer to middlemen at a price of 4-6 rupees per kilogram. The final retailer sells it to customers at around Rs 30-40 per kilogram, which is an 8-10 fold increase.

The massive rise in farm-to-retail prices occurs due to multiple players taking reductions in the form of margins at every stage these products are marketed. There are multiple handling and logistics points for goods of a perishable nature.

Handling and deliveries are done through an inefficient and archaic infrastructure which increases costs, further raising prices. It also results in post-harvest waste and affects the quality of products which are perishable in nature.

Intermediaries and wholesalers are the ultimate winners as they are able to exploit the farmers and enjoy better margins. As farmers lose on those margins while relying on predatory loan sharks to finance their working capital needs.

On the other hand, the retailer must pick fruits and vegetables from wholesalers at the start of the day at prices that fluctuate daily. Product quality is also not great due to inefficiencies in the supply chain.

The end customer naturally suffers from the prices he has to pay for basic vegetables and fruits, which have a very low price at the start of the supply chain. Also in terms of quality, the retailer and possibly the customer pay a high price for a product that has lost quality by the time it reaches these stakeholders.

Tazah, the B2B marketplace, aims to solve these problems by connecting farmers directly to fruit and vegetable retailers, thereby eliminating traditional middlemen and wholesalers. In turn, the prices at which retailers can buy from farmers are better.

Tazah also has a parallel storage and delivery service whereby it is able to deliver directly to retailers instead of forcing them to go out and buy at the start of the day, and the quality of the product is also better.

“Tazah buys from the farmer and sells directly to businesses, reducing farmers’ dependence on traditional middlemen. On the retail side, he can buy at a better price through Tazah, and we also deliver fruit and vegetables to these retailers, ”says Abrar Bajwa, co-founder of Tazah.

Abrar and Mohsin both have firsthand knowledge of how agriculture works in Pakistan and saw the need and opportunity to disrupt the agricultural supply chain by bringing a new perspective.

“The agricultural and food supply chain in Pakistan represents a $ 60 billion opportunity, but it is extremely inefficient and unrewarding for its main stakeholders – the farmers and the businesses that sell and consume fresh produce. The extreme fragmentation of supply and demand, the geographical dispersion and the perishability of the product create information and power asymmetries leading to poor outcomes for producers, businesses and consumers.

Pakistan’s post-harvest losses are 30 to 40 percent, according to an Asian Development Bank report. This means that 30 to 40 of the crop is lost at different stages after harvest. According to the report, about 10 to 12 percent of post-harvest losses occur during the transport of these products. The inefficiencies in the supply chain that lead to such food wastage lead to food price inflation, forcing consumers to spend a large portion of their income on food.

At the macro level, this has a great impact, and if such losses can be avoided at different levels, the impact will be more pronounced on prices. And Tazah is helping to avoid these storage and logistics losses by creating a parallel supply chain that they believe is more efficient and streamlined. Currently, the startup has custom storage facilities and uses third-party logistics to make deliveries.

As the farmer sells his produce to middlemen, middlemen pay for the harvest on their own payback cycle, creating cash flow problems for farmers that hamper their ability to grow. Intermediaries make payments in advance to farmers but charge interest on these payments. On the other hand, predatory loan sharks that farmers can turn to for short-term financing needs also charge arbitrary interest rates, which are added to the farmers’ long-term debt.

Much of Pakistan’s agriculture is cash-based and undocumented, preventing formal financial institutions like banks from lending to farmers. With these issues in mind, Tazah plans to move towards lending for these farmers in a more organized manner.

Visibility into the transactions of farmers and retailers will provide Tazah with solid data points to assess the creditworthiness of these stakeholders and provide them with loan services.

“By adding financing solutions in the near future, Tazah aims to be at the center of the lives of farmers and businesses where they do most of their financial transactions on the Tazah platform. On a large scale, Tazah’s B2B marketplace will reduce food prices and waste, improve access to fresh produce for all and lead to the social upliftment of farmers, ”the company statement said.

Less than two months after starting operations in Lahore, Tazah says she has already amassed nearly 300 small and medium-sized fruit and vegetable vendors carrying several trucks of produce per day. Taazah’s plan with the funding is to consolidate its position in Pakistan’s second largest city, Lahore, while simultaneously expanding into two other cities.

The startup also said they are improving their technology for a better experience for stakeholders, and the plan is to add more products to the market; Tazah currently buys and sells six products on the platform and plans to include more after the recent funding.

As I’ve learned, startups in this space have only headed south in trying to digitize the agricultural supply chain using technology. Mandi Express, based in Karachi, which delivered fruit and vegetables to end consumers, has closed. This naturally postulates that while it looks good so far for Tazah, he’s going to face some serious challenges when scaling up. And if Tazah is able to scale, it could affect prices at the consumer level.

At present, even if Tazah is able to sell to retailers at a lower price, the overall market is largely offline and the drop in prices through Tazah would not be visible enough to cause an overall drop in fruit prices and vegetables. It will only come with the ladder, and Abrar said Profit that they are ready to grow in this direction.

Investors are confident

“We are delighted to partner with the Tazah team in their mission to transform the Pakistani agricultural supply chain,” said Tito Costa, partner at Global Founders Capital. “Tazah’s platform will unlock savings and create opportunities for farmers and small businesses by eliminating current inefficiencies and waste. “

“Abrar and Mohsin have the right combination of experience and scaling vigor to tackle the problem of asymmetric prices in the fresh produce value chain. Tazah will enable farmers, retailers and consumers to discover fairer prices, ”said Faisal Aftab, co-founder and managing partner of Zayn Capital.

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SUMMARY OF MICROFINANCE PAPER: “FinTech and Financial Inclusion in Latin America and the Caribbean”, by Dmitry Gershenson et al, published by the International Monetary Fund Tue, 05 Oct 2021 05:10:51 +0000

This The article examines financial technology (fintech) in Latin America and the Caribbean (LAC), in particular: (1) whether fintech can increase financial inclusion; and (2) best practices for governments looking to use fintech to do so. Among the challenges, there are low levels of financial inclusion are associated with “institutional weaknesses, low levels of banking competition resulting in high cost of financial services, inadequate infrastructure and an overly restrictive regulatory environment”.

Based on their own calculations and previous literature, the authors consider the following metrics: 1) Have an account; 2) Use of digital payments; 3) Have a debit card; 4) Use of a debit card; 5) Internet payment; 6) Receive wages into account; 7) Receive government payment on account; 8) savings account; 9) Have a credit card; 10) Loan from a bank; 11) Use of a credit card; and 12) Paid utilities with Mobile.

Overall, the effects of fintech on financial inclusion in LAC are mixed. Although many indicators suggest improvement since 2011, progress is less pronounced in CLA than in most other regions of the data sample. Within the LAC, there is great variation between countries. For example, the debit card holding rate in Trinidad and Tobago is about six times higher than in Haiti. In Central America, the rate of having bank accounts is about 2.5 times higher in Costa Rica than in Nicaragua. The differences between the countries of South America are not so marked.

The authors argue that fintech can increase financial inclusion by both improving access to financial information and lowering the cost of financial services. However, since many people do not have access to smartphones, the internet, or both, fintech can increase financial inclusion gaps primarily by making it easier for people with higher incomes to obtain financial services.

Case studies conducted by the authors indicate that obstacles such as high lending rates, overly strict documentation requirements, and over-regulation have slowed the development of fintech and, as a result, financial inclusion. However, the authors suggest that “the adoption by governments in most countries of financial inclusion strategies and discussions on new fintech strategies” could have a positive impact on financial inclusion in the near future. In addition, the increase in the use of digital payments due to the COVID-19 pandemic, especially encouraged by government money transfer programs, could pave the way for better use of financial technologies.

This is a summary of an article written by Dmitry Gershenson, Luis Herrera, Frederic Lambert, Gray Ramos, Marina Rousset and Jose Torres; published by the International Monetary Fund (IMF); August 2021; 77 pages; available at

By Bradley Shulman, Research Associate

Additional resources

IMF Home Page

More MicroCapital balance sheets

Did you know that MicroCapital publishes the MicroCapital Monitor journal every month? To learn more, visit

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Baseball-Yankees and Red Sox set to renew rivalry in wildcard clash Mon, 04 Oct 2021 09:04:50 +0000

Band Steve Keating

TORONTO, October 3 (Reuters)The New York Yankees and Boston Red Sox had spectacular late-inning wins to end Major League Baseball’s regular season on Sunday, setting up a wildcard showdown between longtime rivals.

The final day of a 162-game six-month marathon began with four teams – the Yankees, Red Sox, Toronto Blue Jays and Seattle Mariners – all vying for two American League wildcards and when the dust settled, there were two of the most legendary baseball clubs still standing.

The Yankees left him about as late as they could to clinch their spot as Aaron Judge crushed a single late in the ninth for a 1-0 win over the Tampa Bay Rays.

“It’s been a crazy and wild year,” New York manager Aaron Boone said after the Yankees reached the playoffs for the 23rd time in 27 years. “It was only fitting that it boils down to the last day to enter.

“We are ready to shoot.”

It was also a blow in the US capital, where the Red Sox trailed the Washington Nationals 5-1 after five innings and then rallied for six unanswered runs.

Rafael Devers broke a 5-5 tie early in the ninth with his second homer of the day, a one-out shot and two runs at deep center field.

The Red Sox will now host the Yankees in Tuesday’s wildcard game at Fenway Park, with the winner advancing to the divisional series against the AL East champions Rays.

Toronto and Seattle started the day needing a win combined with a loss to New York or Boston to force a tiebreaker and extend their seasons.

The Blue Jays did what they had to do, hammering the Baltimore Orioles 12-4 as the Mariners’ season ended in a disappointing 7-3 loss to the Los Angeles Angels.

American League MVP honors Angels Shohei Ohtani threw a home run, his 46th of the season, to put the Mariners in a hole they would never get out of.

After slamming five home runs in a 10-1 loss to the Orioles on Saturday, the Blue Jays’ sticks were in full swing again on Sunday hitting four home runs, including a third grand slam from George Springer and a two-point shot from Vladimir Guerrero. Jr. for his 48th of the season.

In the National League, the Los Angeles Dodgers and San Francisco Giants, the top two teams in Major League Baseball, started playing with the West Division’s first place finish.

Los Angeles and San Francisco would end the campaign with impressive wins – the Giants beating the San Diego Padres 11-4 while the Dodgers beating Milwaukee 10-3.

But first place in the West goes to the Giants with a 106-55 record while the 105-56 Dodgers were content with a National League wildcard and a Wednesday meeting with the St. Louis Cardinals.

(Reporting by Steve Keating in Toronto. Editing by Kim Coghill)

((; +1 647-624-4094; Reuters messaging:

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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As a father of 11, Alex Oliveira has a message for Niko Price entering UFC Vegas 38: “Get a vasectomy” Sat, 02 Oct 2021 14:00:00 +0000

Alex Oliveira has an unusual message for Niko Price ahead of their welterweight drop later tonight (Saturday, October 2, 2021) at UFC Vegas 38 Live ESPN + from inside the UFC Apex in Las Vegas, Nevada. This message is to get a vasectomy.

INHABIT! Stream UFC Vegas 38 on ESPN +

The Ultimate Fighting Championship (UFC) returns to UFC APEX in Las Vegas, Nevada on Saturday, October 2, 2021, with a thrilling light heavyweight fight against No.5 Thiago santos battle n ° 10 seed Johnny walker. In UFC Vegas 38 co-main event, No. 3 bantamweight contender Aspen Ladd face n ° 11 Macy chiasson.

Don’t miss a single second of face-hitting action!

Oliveira, a father of 11, learned earlier this week that Price was expecting his sixth child. Having six children is certainly a daunting task, but fathering 11 little rascals is almost impossible. That’s why Oliveira gives Price advice before it’s too late.

“I would say to him, ‘If you can already have a vasectomy, do it, brother,'” said Oliveira. MMA Fight. “I was sexist. “Will it continue the same after surgery?” »And I had 11. If I had had surgery before, I would have only had four or five. [kids].

“That’s my advice to him, man. Know the truth. Do the surgery already, because it seems like condoms can’t stop us.

Kids aside, Oliveira is in desperate need of a victory on Saturday to gain momentum before 2021. The Brazilian “Cowboy” has lost five of his last seven trips to the Octagon, including back-to-back losses to Shavkat Rakhmonov and Randy Costa. Oliveira has had to make adjustments at the camp to ensure he’s ready for a wild fighter like Price and capable of securing his first victory in over 14 months.

“He’s very versatile, a tough guy who can take a beating,” Oliveira said when asked about Price. “He’s the kind of guy you need to stay alert and fit all the time, and put the pressure on all the time. My camp was very medieval. You can expect everything from him, so I had to train everything for him. I am ready for a war.

The welterweight drop between Oliveira and Price is already considered the favorite to win Fight of the Night at UFC Vegas 38. Both guys seem to bring it every time they step into the cage and Saturday shouldn’t be. different.

“I’ve been on this trip for a long time,” Oliveira said. “I know we can’t disappoint. I go there to give them what they want and my hands are up. This is what I need right now. I always put pressure on myself, but there are ups and downs.

“I studied him thoroughly, I know he won by knockout in the back, with unexpected kicks and strikes. I am well trained, I am focused. He’s the kind of fighter who’ll try to finish me off, knock me down and keep me there and win round after round, but the only way to win round after round is to stand still. I’m hungry, man. I am here to fight. will provide live, blow-by-blow coverage of the entire UFC Vegas 38 fight map HERE, starting with the ESPN + “Preliminary” fights at 4 p.m. ET, followed by ESPN + Main card start time at 7 p.m. ET.

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China’s Belt and Road Initiative loses momentum Fri, 01 Oct 2021 11:22:42 +0000

Announced in 2013, the One Belt and One Road initiative is an ambitious infrastructure project aimed at connecting more than 100 countries via a sea route and a route to China. After taking giant strides, the project, popularly known as the Belt and Road Initiative (BRI), is now losing momentum, a study affirmed. Spanning a four-year period, the AidData study analyzed 13,427 Chinese projects that even included those from the pre-BIS era to come to this conclusion.

Aiming to revive the Silk Road, the project is funded by the Asian Infrastructure Investment Bank (AIIB), of which China is the main player. The AIIB intended to allocate more than 1000 billion yuan (160 billion dollars) build ports, rail tunnels, dams, skyscrapers, coal-fired power plants and other infrastructure projects in low and middle income countries (LMICs) while $ 40 billion Silk Road Fund was created to finance businesses.

The report also states that through the BRI initiative, China planned to secure resources that were not present within its borders. The loans are guaranteed against future exports of raw materials that the recipient countries will make. However, the lending activity has been “shrouded in secrecy”. In a BIS Report 2020, the Council on Foreign Relations (CFR) said the BIS investments required recourse to “Chinese companies” which often inflated costs; Following such complaints, Malaysia canceled $ 22 billion worth of BRI projects in 2018, which included a rail link and gas pipelines.

AidData reports also indicate that Chinese state-owned commercial banks have made “larger” investments in the BRI and that the number of projects funded by them tripled in the first five years of the project. On the receiving side, debt is channeled to SOEs, banks and even private sector institutions in LMICs that enjoy some government protection. While this does not reflect the sovereign debt of these countries, 42 LMICs now have debt that exceeds 10% of their GDP, according to the report.

In addition, megaprojects under the BRI have encountered more opposition than those in which China participated before the BRI. AidData suggests that 35 percent of projects faced issues related to corruption, labor violations, environmental violations, and even public protests.

Business intern reported that Kazakhstan and Bolivia have canceled BRI projects worth at least $ 1 billion each, while $ 3.3 billion of projects remain on hold or are canceled in Costa Rica, Sudan, Ethiopia, Ecuador, Zambia and Cameroon combined.

The BRI project is losing momentum even after China has spent around $ 85 billion a year on these projects. AidData says it’s at least twice as much as the United States or other countries spend on overseas projects. Major world powers are expected to increase spending after announcing the “Build a Better World” campaign in June this year, Business Insider reported.

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The increase in transaction volume favors sellers in the net rental investment market, according to the InterFace panel Fri, 01 Oct 2021 11:18:00 +0000

Kidder Mathews recently arranged the sale of this net leased commercial property occupied by Valvoline in Costa Mesa, California. Assets like this that house critical retailers continue to perform particularly well in a market that nationally continues to see growing investment demand.

NEW YORK CITY – As more players enter the market, the growing demand for net leased commercial properties in the United States is driving higher prices and lower cap rates, making it a good time to sell such assets.

According to a new report from national brokerage firm The Boulder Group, average capitalization rates for net leased commercial, office and industrial properties fell 22, 15 and 19 basis points, respectively, between the second and third quarters of This year. The number of net leased retail and office buildings in the market both increased between the second and third quarters of this year, but the report notes that the sector is still defined by “significant investor demand combined with supply. limited quality assets “.

Like any other asset class, some net leased product sub-categories outperform others. Due to the combined forces of e-commerce and a global pandemic, the industry remains a leader while the office is surrounded by uncertainty. Likewise, in the net rental commercial space, properties leased to essential service retailers and patio quick-service restaurants are among the preferred investment vehicles.

But at a broader level, institutional investors are increasing their presence in the net lease space, attracted by its penchant for long-term stability. Sources of private capital also continue to target net leases, which often involve smaller, single-tenant properties with prices that allow private buyers to compete on an equal footing with institutional players.

The supply-demand balance in the US net rental market and the long-term sustainability of the current momentum were among the main topics of discussion of the State of the Industry panel at the 13th annual InterFace Net Lease conference. held on September 29.

Hosted by Atlanta-based France Media in the New York Bar Association building, the event took place both in person and in a virtual format. Gordon Sinclair, director of business development and strategy at Egan-Jones Ratings Co., moderated the opening panel.

Panelist Coler Yoakam, senior general manager of JLL’s Dallas office and co-head of the company’s net leasing group, kicked off the discussion by providing some basic numbers illustrating the growth in transaction volume in the space. According to his data, over the past 12 months, net rental agreements have accounted for about 15% of all business transactions in the country. Historically, that proportion has been closer to 10 percent, he said.

“The net rental space is getting a lot more attention because of the migration of capital into it,” Yoakam said, noting that about three-quarters of those deals were in single-tenant assets. “The buyer profile is as diverse as it was before the pandemic – a mix of institutional and high net worth participants – but in greater numbers.”

Yoakam added that compared to 2019, the number of net rental transactions that JLL has entered into is slightly down, but the volume of transactions based on dollar amount is up significantly. “Our numbers speak both to asset appreciation and the market’s preference for larger deals for stabilized properties,” he explained, adding that the good availability of debt and equity for Net rental transactions also boosts the transaction volume and pricing of these properties.

Panelist Jon Hipp, head of Avison Young’s U.S. net leasing group, gave another reason why demand and prices for net leased properties are on the rise: More companies are launching funds specifically adapted to this asset class.

“It seems like every week a new group comes in with a new fund with allocations for net rental transactions, which is great for brokers and sellers,” he said. “Some of these new funds that try to raise capital tend to be more aggressive than established funds. This causes established funds to be more aggressive in order to compete and potentially buy at lower cap rates. “

Advantages and disadvantages

Other panelists representing investment firms and brokerage houses weighed in on the positives and negatives of the current high demand market.

“Competition is healthy for the industry, and it’s great that there is a lot of visibility in the net rental market right now,” said Gino Sabatini, Managing Director and Head of Investments at REIT WP Carey , based in New York. “There are some big names out there who are interested in supporting net rental platforms, and that gives the industry credit as a legitimately self-sustaining asset class.”


InterFace Net Lease State of the Union panel, left to right: Gordon Whiting of Angelo Gordon; Jon Hipp of Avison Young; Moderator Gordon Sinclair of Egan-Jones Ratings Co .; Daniel Taub of Marcus & Millichap; Coler Yoakam from JLL; and Gino Sabatini of WP Carey.

Qualifying the statement, Sabatini added that net rental space has not historically been seen as one of the major food groups in business investment – a perception that he says changes as more capital flock to the market.

Yet the constant and increasing flow of capital seeking an investment in leased net assets – both on the debt and equity side – can be a double-edged sword, according to panelist Gordon Whiting, chief executive of New York-based alternative investment firm Angelo. Gordon & Co.

“A rising tide lifts all boats, but there is concern that as more capital enters the market investors will seek deals based on structure as well as price,” he said. “Inflation is starting to rise, and there is going to be a change in the market. When this happens, many of these transactions in the net lease market could collapse because they were not properly structured and buyers are paying too much.

Whiting’s analysis argued that homeowners who overpaid for these properties could default on their loans in an inflationary environment, hurting debt markets. In addition, he said that such a scenario could hamper the ability of investors to raise equity contributions for future net rental transactions.

“People are so anxious to make deals that sometimes they start to put irrational terms in those deals, which hurts the entire industry in the long run,” he said. “In this market, it’s important to remember that once you’ve entered into a lease, it’s usually there for 20 years. So any bad structure that has been created is going to come out when the owner tries to sell. “

Sabatini agreed with the logic behind Whiting’s analysis, but cited an age-old industry maxim as to why the potentially overvalued market does not pose an immediate danger to investors. “In net leasing, you can make stupid deals today, and no one will know for 10 years,” he said. “But if you’re a long-term holder and the investment isn’t that big, it can catch up with you.”

On the brokerage side of the panel, Yoakam agreed that the inability of new sources of capital to “stay disciplined” could potentially be a big problem for the industry. “At this point in the cycle we’ve certainly seen investors make deals and get lower returns. But the extent to which this becomes a problem remains to be determined. “

Panelist Daniel Taub, national director of the retail and net leasing division of Marcus & Millichap, also assessed market dynamics through the eyes of a broker. Taub did not dispute the strong growth other panels attributed to the demand side of the equation, but instead referred to the supply side and the relative scarcity of products within it.

“Right now, buyers and sellers need to be very careful with how they view transactions because there is a huge imbalance between capital for deployment and product available for placement,” Taub said.

“This gap continues to widen in the wrong direction and as a result we see buyers accepting more aggressive terms and more direct deals made preemptively in order to access the offer,” he continued. . “So there are some levels of foam, and the lack of product really does have an impact, even as more capital is added to the market.”

-Taylor Williams

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MeridianLink Congratulates Clients on Ranking in Prestigious Forbes 2021 List of Best U.S. Financial Institutions Thu, 30 Sep 2021 13:05:00 +0000

COSTA MESA, Calif .– (COMMERCIAL THREAD) –MeridianLink, Inc. (NYSE: MLNK), a cloud-based technology company that enables banks, credit unions, mortgage lenders, specialist loan providers, and consumer information agencies (CRAs) to streamline taking decision and loan origination, as well as credit reporting and background check workflows, congratulate its banking and credit union clients on being named to the prestigious Forbes2021 Best U.S. Banks in Every State” and Forbes2021 America’s Best Credit Unions in Every State » lists. This marks another year in which MeridianLink customers represent the majority of recognized financial institutions.

Forbes’ Lists of the best banks and credit unions in the United States highlight a small group, comprising less than three percent of the 4,978 FDIC-insured banks and less than four percent of the 5,068 credit unions in the United States . MeridianLink customers have a significant presence on every list, representing over 40% of banks and over two-thirds of credit union winners.

“It is encouraging to see the efforts and achievements of our customers recognized, and we are very proud of their success,” said Nicolaas Vlok, CEO of MeridianLink. “To be ranked among such a prestigious group is a laudable achievement, and we all congratulate them on their well-deserved success. ”

Financial institutions were rated on Overall Recommendations and Satisfaction, as well as on five sub-dimensions including Trust, Terms and Conditions, Branch Services, Digital Services, and Financial Advice. The financial institutions of each state are represented on both lists.

“Most of the named financial institutions have worked with us for years and we appreciate that they chose to partner with us to better serve their members and clients,” said Tim Nguyen, Chief Strategy Officer and Co-Founder by MeridianLink. “Our customers inspire us to create industry-leading and trusted products and services, and we will continue to innovate and leverage technology to help our customers delight theirs. ”

Almost all of the credit union and bank clients nominated by Forbes use one or more of MeridianLink’s unified platform products, including MeridianLink Consumer, MeridianLink Mortgage, MeridianLink Portal and MeridianLink Opening.

About MeridianLink

MeridianLink® (NYSE: MLNK) is a leading provider of cloud-based software solutions for financial institutions, including banks, credit unions, mortgage lenders, specialist loan providers, and credit reporting agencies. consumers. Based in Costa Mesa, California, MeridianLink provides services to more than 1,900 clients, including the majority of financial institutions on the Forbes 2021 lists of America’s best credit unions and banks. Further information can be found at

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]]> 0 Manufacturing in China unexpectedly decreases, services offer support Thu, 30 Sep 2021 01:14:19 +0000

BEIJING: Chinese factories’ activity unexpectedly contracted in September due to greater restrictions on electricity consumption and high input prices, while services resumed their expansion as epidemics of COVID-19 was receding, offering some relief to the world’s second-largest economy.

The official manufacturing purchasing managers index (PMI) was 49.6 in September from 50.1 in August, data from the National Bureau of Statistics (NBS) showed on Thursday, sliding into contraction for the first time since February. 2020.

Analysts in a Reuters poll expected the index to remain stable at 50.1, unchanged from the previous month. The 50 point mark separates growth from contraction.

China’s economy quickly recovered from a pandemic-induced slump last year, but momentum has weakened in recent months as its sprawling manufacturing sector hit by rising costs, bottlenecks restriction of production and rationing of electricity.

The increase in COVID-19 cases in dozens of cities over the summer has also disrupted the manufacturing and service sectors, although the latter is starting to rebound as epidemics recede.

A sub-index of manufacturing output contracted in September for the first time since February last year, dragged down by a decline in energy-intensive industries, such as metal processing plants and petroleum products. The gauge stood at 49.6 against 50.1 a month earlier.

“In September, due to factors such as low volumes of activity in energy-intensive industries, the manufacturing PMI fell below the critical point,” Zhao Qinghe, senior statistician of NBS, said in a statement. communicated.

“The two indices of energy-intensive industries … are both below 45.0, indicating a significant drop in supply and demand.”


The sudden contraction in factory activity will put more pressure on an economy already hit by the brakes in its real estate and technology sectors and facing numerous downgrades to growth by private sector economists.

Other Asian economies are also struggling with production issues due to supply chain disruptions, with data on Thursday showing Japan’s industrial production plummeting for a second straight month in August.

“(Chinese) economic growth in the fourth quarter is likely to slow further without any change in government policies, and the pace of the slowdown may accelerate,” Zhiwei Zhang, chief economist at Shenzhen-based Pinpoint Asset Management, said after the publication. PMI data.

“The big question is whether the government’s monetary and fiscal policies will become more favorable now or whether the government will wait until the end of the year to change policies.”

The central bank last eased its requirements on the amount of liquidity banks should hold in mid-July, just ahead of an increase in domestic cases of COVID-19.

The People’s Bank of China (PBOC) left its key rate for loans to businesses and households unchanged for the 17th month of September.


A coal shortage, stricter emissions standards, and strong demand from manufacturers and industry have pushed coal prices to record highs and triggered widespread restrictions on electricity use in at least 20 provinces and regions.

Rising commodity prices, especially metals and semiconductors, also weighed on manufacturers’ profits. Chinese industrial company profits in August slowed for the sixth consecutive month.

A commodity costs sub-index fell to 63.5 in September from 61.3 a month earlier, while a new orders indicator stood at 49.3 from 49.6 in August, declining for the second consecutive month.

An employment sub-index continued to contract, to 47.8 from 47.0 a month earlier.

A separate private survey also released on Thursday, which focuses on small businesses and export-oriented firms, showed factory activity in September neither increased nor decreased.

On a more optimistic note, the official non-manufacturing PMI in September was 53.2, rebounding from 47.5 in August, according to NBS data, as COVID-19 outbreaks receded after rising for months summer.

COVID-19-related restrictions last month caused a sharp contraction in service sector activity for the first time since the pandemic peaked last year.

September’s official composite PMI index, which includes both manufacturing and services activity, stood at 51.7 from 48.9 in August.

(Reporting by Ryan Woo and Gabriel Crossley; Editing by Tom Hogue and Ana Nicolaci da Costa)

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