AMP Says Ares Offer Values Wealth Manager at $4.5 Billion

(Bloomberg) — Australian wealth manager AMP Ltd. said a preliminary takeover approach from U.S. private equity firm Ares Management Corp. values the company at A$6.4 billion ($4.5 billion.)

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The proposal has an implied value of A$1.85 per AMP share, the Sydney-based company said in a statement Monday. The shares rose as much as 9% in early Sydney trading to A$1.66, adding to a 20% surge Friday when the talks were first disclosed.

AMP Gets Takeover Approach From Ares Management; Shares Jump

The 171-year-old firm effectively put itself up for sale after a sexual harassment scandal led to a boardroom shakeout, capping a torrid two years that saw the stock lose three-quarters of its value. For Los Angeles-based Ares, buying AMP, which manages about A$320 billion across pension savings, infrastructure and real estate, would be a quick way to scale up in Australian funds management, where it began offering

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BrainBox AI to Deploy Its Innovative Autonomous Building Technology Across AMP Capital’s Entire Real Estate Portfolio

New deal with AMP Capital in Australia sees BrainBox AI continue its global expansion across The Americas, EMEA and APAC

BrainBox AI, a pioneering leader in autonomous building technology, today announced a deal with AMP Capital to deploy its revolutionary artificial intelligence (AI) technology across the global investment management company’s entire managed real estate portfolio. AMP Capital, one of the largest investment managers in APAC, now becomes the first organization in the world to install an autonomous AI HVAC (heating, ventilation, and air conditioning) system across its managed real estate portfolio, which includes central business district office buildings, retail shopping centers and logistics facilities throughout Australia and New Zealand.

With this ground-breaking agreement, BrainBox AI is now further expanding its global presence in The Americas, EMEA and APAC. The rollout with AMP Capital comes only days after BrainBox AI’s recent announcement of its launch in Europe, with its technology now

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BrainBox AI concludes major partnership with AMP Capital to deploy its innovative autonomous building technology across entire real estate portfolio

Canadian artificial intelligence technology continuing its global expansion across the Americas, EMEA and APAC, enabling significant energy savings globally

TORONTO, Oct. 26, 2020 /CNW/ – BrainBox AI, a pioneering leader in autonomous building technology, today announced a deal with AMP Capital to deploy its revolutionary artificial intelligence (AI) technology across the global investment management company’s entire managed real estate portfolio. AMP Capital, one of the largest investment managers in APAC, now becomes the first organization in the world to install an autonomous AI HVAC (heating, ventilation, and air conditioning) system across its managed real estate portfolio, which includes central business district office buildings, retail shopping centers and logistics facilities throughout Australia and New Zealand.

Since its launch in May 2019, BrainBox AI has already teamed up with over 30 partners across the world and is now managing over 40 million square feet of commercial real estate across

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Mclean Virginia Real Estate – The Apartment & Condo Communities of Tysons Corner

Below are housing options every current and new resident to Tysons Corner should consider.

Tysons Corner VA Condo Communities The Fountains at Mclean – Built in 1988 this luxury condo community in Tysons Corner is located within walking distance to the Tysons Corner Mall, Freddie Mac and the Tysons Westpark Transit station. Busses from this station leave frequently for Weshington DC, the West Falls Church metro, Arlington and Reston Town Center. The Fountains (FAM) has a long standing reputation as one of the best investments in Tysons Corner. The community is know for it’s stepped, three level fountains located on the grounds and major common areas. Spacious one and two bedroom units with underground parking, on-site fitness facility, pool, tennis courts and clubhouse make FAM one of the most desirable communities in Tysons. The Fountains at Mclean offers condos for sale starting at approximately $260,000.

The Gates of Mclean – … Read More

Move Out & Move in Apartment Cleaning Ideas

You signed the papers, hired the movers, packed the dishes, and decluttered the garage. Now what?

You are still left with something that is very important to do before leaving. That is to perform a deep cleaning of your former and new apartment.

Doing a deep cleansing of the apartment before moving out is beneficial for both the parties – particularly if you have a security deposit on the line. Though, moving out cleaning is easy to ignore. After all, you have many things to worry about such as shifting into your new apartment.

Whether you are considering moving-in cleaning or moving-out cleaning, just read the following guidelines to make sure your apartment is sparkling.

1. Moving-Out

Now as the rooms are vacant or nearly vacant, it is the time to make your apartment look even better than it was before you first moved in.

Standard move out cleaning checklist:Read More

AMT & Disposition of Business Or Rental Property

In our last article we talked about the alternative minimum tax item, resulting from depreciation of business or rental property. A direct corollary of that issue is the AMT item that results from any subsequent sale or other disposition of such property. Critical to minimizing a taxpayer’s AMT is an understanding of the relationship between these two items.

When property is disposed of, a taxpayer calculates the gain or loss based on the difference between the selling price and his tax basis. For something like a stock or a bond, tax basis is the amount originally paid for the investment – that is all that is needed. This same concept also applies to the sale of business or rental property, but with one important difference – depreciation. In the case of depreciable property, tax basis is the amount originally paid, but then reduced for any depreciation taken.

The tax basis … Read More