KUALA LUMPUR, Oct 17 (Bernama) -- Madison Realty Capital, a vertically integrated real estate private equity firm, has provided a US$32 million loan to Vibrant Cities for a recently completed, eight-storey mixed-use residential and retail property located in the Capitol Hill neighbourhood of Seattle, Washington. (US$1=RM4.710)
“We are pleased to further expand our presence in the Pacific Northwest by delivering a customised financing solution to Vibrant Cities, an experienced developer in Seattle with an extensive history of delivering high-quality multifamily properties,” said Madison Realty Capital managing principal and co-founder, Josh Zegen.
The 95-unit property, known as Pivot Apartments, is 69 per cent leased to date, containing 4,900 square feet of ground floor retail space that is fully leased to Wasabi Sushi, La Cocina Oaxaqueña, and Social Tea.
Thirty of the property’s residential units are fully leased for short-term rentals to Sonder USA Inc, a boutique hospitality company and short-term rental manager.
According to a statement, the Property participates in Seattle’s Multifamily Tax Exemption Programme by designating 20 per cent of the residential units as affordable.
Pivot contains a unit mix of studio, one-, and two-bedroom residences with modern interiors and built-in closets, with some units offering private balconies.
Community amenities include an outdoor deck, parking garage, bike storage, on-site office, and fitness centre for both long-term and short-term tenants.
Madison Realty Capital is headquartered in New York City with an office in Los Angeles.
-- BERNAMA
Monday, October 17, 2022
Friday, October 14, 2022
MARY KAY COMMITTED TO ADVANCING DIVERSITY TO FOSTER INNOVATION, GROWTH
KUALA LUMPUR, Oct 13 (Bernama) -- As a global company, Mary Kay Inc believes its diversity is a strength which fosters innovation and growth.
In a statement on diversity, equity and inclusion (DEI), the company said it strives to lead by its founding values and purpose, celebrating diversity, and cultivating an inclusive workplace and society for nearly 60 years.
Through concrete steps and partnerships, Mary Kay said, it is continuously working toward realising a more inclusive, diverse and equitable culture in its company and communities.
Mary Kay, a long-standing champion and global advocate for women’s empowerment and gender equality, released the DEI statement celebrating Global Diversity Awareness Month and hosted a DEI summit in conjunction with World Inclusion Day.
“Through these efforts, Mary Kay is holding itself accountable to its DEI commitments which are centered around three fundamental concepts namely, understanding through knowledge, demanding action, and ensuring sustainable transformative change within its company, across its business partners and in the communities it serves,” it said.
Chief legal and chief diversity & inclusion officer Julia A. Simon said that through its corporate actions, Mary Kay is committed to advancing diversity and ensuring inclusivity in the company.
“We recognise the fight for equality stretches beyond our walls which is why we champion efforts in communities we touch around the globe,” she said.
Mary Kay is committed to supporting DEI efforts and reaching its goal of understanding through knowledge, demanding action, and ensuring sustainable long-lasting change via internal focus areas such as advancing DEI at Mary Kay; women’s representation and leadership; and employee retention.
-- BERNAMA
NATRON ENERGY UNVEILS BLUE RACK BATTERY CABINET FOR MISSION CRITICAL APPLICATIONS
KUALA LUMPUR, Oct 13 (Bernama) -- Natron Energy Inc has announced the launch of the Blue Rack battery cabinet, the world’s first sodium-ion battery cabinet designed for mission-critical applications such as data centres, peak power-shaving and other industrial power environments.
In a statement today, it said powered by Natron’s new Blue Pack battery, the battery cabinet is available in 250 kilowatt (kW) and 500kW configurations.
“This is the longest-lasting, highest-power and above all, safest battery available for these applications,” chief business officer Robert Rogan said.
He said the sodium-ion technology in the Blue Rack outperformed lithium-ion and lead acid in every critical metric, especially safety.
Natron Energy said the Blue Pack and Blue Rack battery cabinet was designed with features including a wide operating temperature range, twice as powerful as lithium-ion batteries and full recharge in 15 minutes or less.
It said Natron’s sodium-ion batteries are the safest industrial battery technology available and are non-flammable, even when penetrated by a nail or exposed to flame.
“They suffer no damage or performance loss from short circuits or up to 35 per cent overvoltage overcharge,” it said.
Natron Energy manufactures sodium-ion battery products based on a unique Prussian blue electrode chemistry for a wide variety of industrial power applications.
-- BERNAMA
ADAGENE ANNOUNCES POSTER PRESENTATIONS AT UPCOMING SITC ANNUAL MEETING
KUALA LUMPUR, Oct 13 (Bernama) -- Adagene Inc (Adagene) announced that it will present clinical data from phase 1b/2 studies of its anti-CTLA-4 antibody candidate, ADG116, at the upcoming Society for Immunotherapy of Cancer’s (SITC) Annual Meeting on Nov 8-12 in Boston.
The posters will summarise the comprehensive safety data for ADG116 with repeat dosing as monotherapy, as well as new data supporting its optimal dose selection in combination with two different anti-PD-1 therapies.
Additionally, data will show anti-tumour activity in warm and cold tumours, including details of a partial response with monotherapy and a complete response in combination therapy, which were both observed in tumour types where no anti-CTLA-4 therapy is approved.
According to a statement, both posters will be published on the company’s website in accordance with the SITC embargo policy on Nov 10, 2022.
Adagene Inc is a platform-driven, clinical-stage biotechnology company committed to transforming the discovery and development of novel antibody-based cancer immunotherapies.
-- BERNAMA
OKUMA TO OFFER FULL LINEUP OF "GREEN-SMART MACHINE" PRODUCTS
KUALA LUMPUR, Oct 13 (Bernama) -- Okuma Corporation is offering a full lineup of “Green-Smart Machine” products defined as intelligent machine tools that contribute to resolving environmental issues by autonomously achieving both stable dimensional accuracy and reduced energy usage.
According to a statement, the machine is clearly identified as a smart machine suited for a decarbonised society (machine with emblem). The emblem will be attached to machines in future orders for domestic shipments from April 2023.
The “Green-Smart Machine” eliminates operator intervention required to maintain high accuracy and reduce energy usage, and achieves Level 4 of the maturity models, "autonomous energy reduction with accuracy stability," where the machine autonomously controls the equipment.
In addition, carbon neutrality has already been achieved for the machines at the company's three domestic factories, which are the main production factories, ahead of schedule from October 2022.
These automated and smart factories have been proven to reduce energy usage and produce products with high accuracy and high efficiency.
Unique technologies to realise “Green-Smart Machine” include autonomously maintaining a stable, high level of accuracy; energy-saving system "ECO suite plus" for decarbonised society; and, new operation control technology for spindle-cooling systems.
-- BERNAMA
PAPUA NEW GUINEA TEAMS UP WITH GLOBAL FISHING WATCH, TO SHARE VESSEL TRACKING DATA
KUALA LUMPUR, Oct 13 (Bernama) -- In a newly established partnership with Global Fishing Watch, Papua New Guinea (PNG) has committed to sharing vessel tracking data from its Fishing Industry Association on the organisation’s public map.
Through this agreement, the Pacific island country is taking action to enhance the monitoring of fishing vessels operating in its waters and increase the transparency of its seafood supply chain.
“We welcome this new partnership with PNG and commend their leadership in fisheries transparency,” said Global Fishing Watch chief executive officer Tony Long in a statement.
“We see incredible value in the relationship that the National Fisheries Authority has with the Fishing Industry Association, demonstrating the importance of effective government and industry partnerships in advancing good governance and promoting a positive compliance environment.”
A memorandum of understanding outlining the partnership was signed between Global Fishing Watch and the National Fisheries Authority on Oct 11, 2022, at the 17th Infofish World Tuna Trade Conference and Exhibition in Bangkok.
The agreement was reviewed and endorsed by all members of the Fishing Industry Association and is a testament to PNG’s commitment to increasing accountability across the fishing sector and its desire to effectively manage fisheries and marine resources for sustainable and equitable benefits.
The newly available vessel monitoring system data will complement the already-existing automatic identification system, or AIS, data that appears on Global Fishing Watch’s map.
This additional layer of information will help strengthen vessel compliance and aid in the sustainable use of marine resources, and highlights industry’s appreciation for the role transparency plays in building trust with their customers.
Global Fishing Watch is an international nonprofit organisation dedicated to advancing ocean governance through increased transparency of human activity at sea.
-- BERNAMA
SWITCH AUTOMATION LAUNCHES FREEMIUM PORTFOLIO BENCHMARKING TO EQUIP PORTFOLIO OWNERS TO MEET ESG AND NET-ZERO GOALS
· Switch Automation, a global technology company for digitizing and decarbonizing buildings, has announced the launch of a freemium energy benchmarking solution for global building portfolios.
· Using real-time data analytics and automating energy feeds, Switch Automation’s Portfolio Benchmarking Basics compares buildings across a portfolio to streamline reporting and identify outliers to easily meet ESG and net-zero goals.· By giving insight into energy performance across the portfolio, Switch Automation helps building owners and operators identify where energy reduction might be most effective first to build actionable next steps for their decarbonization strategy.
NEW YORK, Oct 13 (Bernama-BUSINESS WIRE) -- Switch Automation, a global technology company for digitizing and decarbonizing buildings, has announced the launch of a freemium energy benchmarking solution for global building portfolios. This move in the industry aims to democratize access to building performance data and accelerate decarbonization of the built environment during a time when building owners and operators are under increased regulatory and shareholder pressure to meet ESG and net-zero goals within tight time frames.
Switch Automation’s Portfolio Benchmarking Basics is an interactive portfolio management tool that lets users view energy data to identify underperforming buildings to target energy efficiency improvements. Users can bring in up to 20 utility bills to build a reserve of historical energy data and quickly identify opportunities and threats to target energy reductions and meet ESG and corporate net-zero goals.
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