Australia's Home Prices Climb Further as Rental Growth Refuels
The Home Value Index advanced 0.6% in July, property consultancy Cotality said in a statement on Friday. Darwin was once again the top gainer, climbing 2.2%, while the bellwether Sydney market rose by 0.6%
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The transaction may also enhance the marketability and value of our adjacent industrial park at Flowerfield, and the proposed development will bring long-term value to the Smithtown community. As we evaluated potential uses for the property, it became clear that there is a meaningful need for assisted living facilities in the region, which also has a low traffic impact to the community. In our discussions with B2K Development, we agreed on the importance of aligning with community values, and we are pleased that their proposed development will preserve over 40% of the property as open space.' 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A JLL Capital Markets team led by Senior Managing Director Jose Cruz, Director Ryan Robertson and Vice Chairman David Leviton arranged the sale on behalf of Gyrodyne. The Agreement includes customary representations, warranties, and covenants. A copy of the full Agreement has been filed as Exhibit 10.1 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on August 4, 2025. About Gyrodyne, LLC Gyrodyne, LLC owns and manages a diversified portfolio of real estate properties comprising office, industrial and service-oriented properties in the New York metropolitan area. Gyrodyne owns a 63-acre site approximately 50 miles east of New York City on the north shore of Long Island, which includes industrial and office buildings and undeveloped property which is the subject of plans to seek value-enhancing entitlements. Gyrodyne also owns a medical office park in Cortlandt Manor, New York which is also the subject of a subdivision application. Gyrodyne's common shares are traded on the NASDAQ Stock Market under the symbol GYRO. Additional information about Gyrodyne may be found on its web site at Forward-Looking Statement Safe Harbor The statements made in this press release that are not historical facts constitute 'forward-looking information' within the meaning of the Private Securities Litigation Reform Act of 1995, and Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, which can be identified by the use of forward-looking terminology such as 'may,' 'will,' 'anticipates,' 'expects,' 'projects,' 'estimates,' 'believes,' 'seeks,' 'could,' 'should,' or 'continue,' the negative thereof, other variations or comparable terminology as well as statements regarding the evaluation of strategic alternatives. Important factors, including certain risks and uncertainties, with respect to such forward-looking statements that could cause actual results to differ materially from those reflected in such forward-looking statements include, but are not limited to, risks and uncertainties generally relating to our efforts to enhance the values of our remaining properties and seek the orderly, strategic sale of such properties as soon as reasonably practicable, risks associated with the Article 78 Proceeding against the Company and any other litigation that may develop in connection with our efforts to enhance the value of and sell our properties, risks relating to our national marketing campaign led by JLL for the sale of our Flowerfield and Cortlandt Manor properties, risks associated with our purchase and sale agreement with B2K (and future purchase and sale agreements for our remaining properties that may be contingent on years-long regulatory contingencies) in light of our financial condition, community activism risk, proxy contests and other actions of activist shareholders, regulatory enforcement risk, risks inherent in the real estate markets of Suffolk and Westchester Counties in New York, the potential residual effects of the COVID-19 pandemic, lingering risks relating to the 2023 banking crisis and closure of two major banks (including one with whom we indirectly had a mortgage loan which the FDIC transferred in December 2023 to a new holder following the banks closure), ongoing inflation risk, ongoing interest rate uncertainty, recession uncertainty and supply chain constraints or disruptions, and other risks detailed from time to time in Gyrodyne's SEC reports. Contact: Gary Fitlin Chief Executive Officer Gyrodyne, LLC Phone: (631) 584-5400 [email protected]
