logo
City of Savannah opts out of state homestead exemption

City of Savannah opts out of state homestead exemption

Yahoo28-02-2025

SAVANNAH, Ga. (WSAV) — The City of Savannah unanimously voted to opt out of the state's new homestead exemption tax Thursday.
The City of Savannah and Chatham County currently tax homeowners through the 25-year-old Stephens Day model, which freezes home values to what they were upon original purchase, and locks in the county tax rate, something city leaders said does not need changing.
The decision was made during their final meeting at 6 p.m. Feb. 27.
WSAV has been following House Bill 581 decisions in our area. Stick with us on air and online for more.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

SmartStop Prices Canadian Maple Bond Offering
SmartStop Prices Canadian Maple Bond Offering

Yahoo

time23 minutes ago

  • Yahoo

SmartStop Prices Canadian Maple Bond Offering

LADERA RANCH, Calif., June 11, 2025--(BUSINESS WIRE)--SmartStop Self Storage REIT, Inc. ("SmartStop") (NYSE: SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced the pricing of a Canadian Maple Bond offering. SmartStop's affiliated operating partnership, SmartStop OP, L.P., will issue CAD $500 million of series A senior unsecured notes due June 16, 2028 (the "Notes"). The Notes bear interest at a rate of approximately 3.91% per annum, payable in cash in equal semi-annual installments, commencing on December 16, 2025. The effective interest rate on the indentures after accounting for an interest rate hedge is approximately 3.85%. The Notes are rated BBB (Stable) by Morningstar DBRS. SmartStop intends to use the net proceeds from the offering to repay outstanding higher interest rate indebtedness, fund acquisitions and for general corporate purposes. The closing of the offering is expected to occur on June 16, 2025, subject to the satisfaction of customary closing conditions. The Notes will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws in the United States and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws. The Notes were offered exclusively to persons resident in a Canadian province through a syndicate of agents on a private placement basis. The Notes will not be sold to investors outside of Canada. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. About SmartStop Self Storage REIT, Inc. (SmartStop): SmartStop Self Storage REIT, Inc. ("SmartStop") (NYSE: SMA) is a self-managed REIT with a fully integrated operations team of approximately 590 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of June 11, 2025, SmartStop has an owned or managed portfolio of 222 operating properties in 23 states, the District of Columbia, and Canada, comprising approximately 158,900 units and 17.9 million rentable square feet. SmartStop and its affiliates own or manage 42 operating self-storage properties in Canada, which total approximately 35,700 units and 3.6 million rentable square feet. View source version on Contacts David Corak Senior VP of Corporate Finance and StrategySmartStop Self Storage REIT,

SmartStop Prices Canadian Maple Bond Offering
SmartStop Prices Canadian Maple Bond Offering

Business Wire

time28 minutes ago

  • Business Wire

SmartStop Prices Canadian Maple Bond Offering

LADERA RANCH, Calif.--(BUSINESS WIRE)--SmartStop Self Storage REIT, Inc. ('SmartStop') (NYSE: SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced the pricing of a Canadian Maple Bond offering. SmartStop's affiliated operating partnership, SmartStop OP, L.P., will issue CAD $500 million of series A senior unsecured notes due June 16, 2028 (the 'Notes'). The Notes bear interest at a rate of approximately 3.91% per annum, payable in cash in equal semi-annual installments, commencing on December 16, 2025. The effective interest rate on the indentures after accounting for an interest rate hedge is approximately 3.85%. The Notes are rated BBB (Stable) by Morningstar DBRS. SmartStop intends to use the net proceeds from the offering to repay outstanding higher interest rate indebtedness, fund acquisitions and for general corporate purposes. The closing of the offering is expected to occur on June 16, 2025, subject to the satisfaction of customary closing conditions. The Notes will not be registered under the Securities Act of 1933, as amended (the 'Securities Act'), or any state securities laws in the United States and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws. The Notes were offered exclusively to persons resident in a Canadian province through a syndicate of agents on a private placement basis. The Notes will not be sold to investors outside of Canada. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. About SmartStop Self Storage REIT, Inc. (SmartStop): SmartStop Self Storage REIT, Inc. ('SmartStop') (NYSE: SMA) is a self-managed REIT with a fully integrated operations team of approximately 590 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of June 11, 2025, SmartStop has an owned or managed portfolio of 222 operating properties in 23 states, the District of Columbia, and Canada, comprising approximately 158,900 units and 17.9 million rentable square feet. SmartStop and its affiliates own or manage 42 operating self-storage properties in Canada, which total approximately 35,700 units and 3.6 million rentable square feet.

MacKenzie Realty Capital Completes The Refinancing of Loan for the Main Street West Property
MacKenzie Realty Capital Completes The Refinancing of Loan for the Main Street West Property

Yahoo

timean hour ago

  • Yahoo

MacKenzie Realty Capital Completes The Refinancing of Loan for the Main Street West Property

ORINDA, Calif., June 11, 2025 (GLOBE NEWSWIRE) -- MacKenzie Realty Capital, Inc. (Nasdaq: MKZR) ('MacKenzie' or the 'Company') is pleased to announce the successful refinancing of the Main Street West property in Napa, CA. The refinancing was completed with EverTrust Bank for approximately $9.5 million, a term for 3 years with a current interest rate of 7.5% (Prime). The Main Street West property is 40,000 square feet with retail and professional suites located at 1250 Main Street in downtown Napa. Robert Dixon, CEO and President of MacKenzie Realty Capital, said, "Despite many challenges in the current commercial real estate financing market, we continue to see lender appetite for well-located properties in solid markets. These complex transactions highlight the importance of long-term trusted lending relationships. EverTrust's deep in-house knowledge in structuring commercial real estate financing facilities has enabled us to close on a term sheet and underscores our proactive approach to managing our balance sheet and our dedication to driving long-term growth.' About MacKenzie Realty Capital, founded in 2013, is a West Coast-focused REIT that intends to invest at least 80% of its total assets in real property, and up to a maximum of 20% of its total assets in illiquid real estate securities. We intend for the real property portfolio to be approximately 50% multifamily and 50% boutique class A office. The Company has paid a dividend every year since inception. The current portfolio includes interests in 4 multifamily properties and 8 office properties plus 2 multifamily developments. For more information, please contact MacKenzie at (800) 854-8357. Please visit our website at: IR CONTACTAndrew Barwicki516-662-9461andrew@ Forward-Looking StatementsThis press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, among others, our ability to remain financially healthy, and our expected future growth prospects. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as 'anticipate,' 'estimate,' 'believe,' 'continue,' 'could,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'should,' 'will,' 'expect,' 'objective,' 'projection,' 'forecast,' 'goal,' 'guidance,' 'outlook,' 'effort,' 'target,' 'trajectory,' 'focus,' 'work to,' 'attempt,' 'pursue,' or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. For a further discussion of factors that could cause our future results, performance, or transactions to differ significantly from those expressed in any forward-looking statement, please see the section titled 'Risk Factors' in annual reports on Form 10-K and quarterly reports on Form 10-Q that we file with the Securities and Exchange Commission from time to time. 89 Davis Road, Suite 100 • Orinda, California 94563 • Toll-Free (800) 854-8357 • Local (925) 631-9100 • in to access your portfolio

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store