On Wednesday, Shares of Capstone Turbine Corporation (NASDAQ:CPST), lost -1.32% to $0.420.
Capstone Turbine Corporation declared that it received an order for two C600 dual mode microturbines to power a facility and on-site equipment at an oil field project in Alaska.
Horizon Power Systems and Chenega Energy, two of Capstone’s North American distributors, worked together to secure the order and develop an ideal power plant for the project. The plant is predictable to be commissioned in September 2015.
Two natural-gas-fired C600 dual mode microturbines, designed specifically for high humidity environments, will be installed at an onshore oil and gas production site in Alaska to provide primary power for operating the oil facility and on-site equipment. Capstone microturbines were chosen in lieu of traditional diesel engine generator sets for their high reliability, low emissions, low maintenance and low noise.
The joint effort between Horizon Power Systems and Chenega Energy underscores the strength and high level of partnership between Capstone distribution partners. The development of a new project can take several months or even years. Phases of the project, such as engineering, can take place in a different part of the world than the installation itself. Providing a seamless experience across Capstone’s distribution network is an integral part of this process and ensures the best possible experience and outcome for the end use customer.
Capstone Turbine Corporation develops, manufactures, markets, and services microturbine technology solutions for use in stationary distributed power generation applications worldwide.
Shares of Resource Capital Corp. (NYSE:RSO), inclined 1.33% to $3.05, during its last trading session.
Resource Capital Fund, declared secured convertible loan facility in the aggregate principal amount of US$25 million, and in satisfaction of interest and principal payment obligations under the Facility, RCF attained ownership of 10,147,748 additional common shares in the capital of Buffalo Coal Corp.
At a meeting of Buffalo’s shareholders held on June 19, 2015 , disinterested shareholders approved amendments to the Facility to, among other things, enhance the principal amount from US$25 million to US$29 million , enhance the interest rate from 12% to 15%, decrease the conversion price from C$0.1446 to C$0.0469 and issue the Facility Shares to RCF.
The Facility Shares collectively represent 9.4% of the issued and outstanding common shares in the capital of Buffalo. At a conversion price of C$0.0469, the Facility Shares were valued at a 25% discount to the 5-day volume-weighted average trading price of the common shares on the Toronto Stock Exchange on January 30, 2015 (the last trading day preceding to the declaration of the Facility amendments).
As of the close of business recently, RCF owns in the aggregate, a total of 76,072,228 common shares of Buffalo, representing about 70.6% of the issued and outstanding common shares in the capital of Buffalo. Preceding to acquiring the Facility Shares, RCF owned 65,924,480 Buffalo common shares, or about 71.6% of the issued and outstanding Buffalo common shares.
Resource Capital Corp., a diversified real estate investment trust, primarily focuses on originating, holding, and managing commercial mortgage loans and other commercial real estate-related debt and equity investments in the United States.
At the end of Wednesday’s trade, Shares of Chambers Street Properties (NYSE:CSG), gained 0.14% to $7.36.
Chambers Street Properties stated its financial results for the three-month period ended June 30, 2015.
Operational and Financial Highlights Second Quarter 2015
- Raised Core Funds from Operations (“Core FFO”) to $0.19 per diluted share, an enhance of $0.02 per share contrast to the second quarter of 2014
- Total portfolio percentage leased was 99.3% as of June 30, 2015, up 90 basis points from March 31, 2015
- Executed eight leases (four industrial and four office leases) totaling 224,239 square feet
- Sold two wholly-owned properties totaling 472,500 square feet for about $57.3 million
Financial Results for the Three Months Ended June 30, 2015
Core FFO for the second quarter of 2015 raised to $43.9 million, or $0.19 per diluted share, contrast to $40.5 million, or $0.17 per diluted share, for the second quarter of 2014. Core FFO for the second quarter of 2015 raised about $0.01 per share or $1.8 million as contrast to the first quarter of 2015. This enhance was primarily the result of the recognition of the full amount of rental income associated with the Company’s 70 Hudson Street office property located in Jersey City, New Jersey, which comprises an adjustment for such rental income not recognized during the first quarter of 2015.
Funds from Operations (“FFO”) as defined by NAREIT for the second quarter of 2015 was $37.4 million, or $0.16 per diluted share, as contrast to $40.4 million, or $0.17 per diluted share, for the second quarter of 2014. FFO for the second quarter of 2015 was influenced by $5.8 million of expenses related to the CEO search, review of planned alternatives and potential merger with Gramercy.
Net income for the second quarter of 2015 totaled $9.7 million, or $0.04 per diluted share, as contrast to net income of $5.2 million, or $0.02 per diluted share, for the second quarter of 2014. Results for the three months ended June 30, 2015 comprised of a gain of $5.8 million from the sale of two merged properties.
Chambers Street Properties is a equity real estate investment trust. The firm invests in the real estate markets of United States, United Kingdom, and Germany. It focuses on acquiring, owning and operating the properties.
Finally, Colony Capital Inc (NYSE:CLNY), ended its last trade with -0.36% loss, and closed at $22.11.
Colony Capital Inc., declared that Christophe G. de Taurines has joined the firm as Managing Director—European Investor Relations.
Based in Colony’s London office, Mr. de Taurines, 50, will principally be responsible for expanding Colony’s investor relationships in Europe, while also assisting with the firm’s European strategy and operations.
Mr. de Taurines was Founder and CEO of Capital & Marketing Group, a capital marketing advisory firm, which advised on and raised capital of over USD 20 billion for alternative investment managers, counting Colony Capital. Preceding to that he was a Senior Vice President at Donaldson Lufkin & Jenrette’s private funds group and also worked at LaSalle Partners and Citibank. Mr. de Taurines graduated with a Bachelor of Business Administration from the George Washington University and received an MBA from the London Business School.
“In an unsettled credit and a new regulatory environment for asset managers and investors, Colony stands out as an innovative leader in investment solutions. I am proud to have been associated with Colony for over a decade as an external adviser and am very excited by the prospects offered by my joining the firm and its truly outstanding team,” said Mr. de Taurines.
Colony Capital, Inc., a commercial real estate and investment administration company, acquires, originates, and manages a portfolio of real estate-related debt and equity investments in North America and Europe.
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