The team at Nashville-based franchisor Chem-Dry plans to open 122 locations this year, a number that is up from 109 in 2014 and will allow the company to grow its store base by about 3 percent. The addition of locations will focus both on U.S. and overseas markets.
This year, Chem-Dry will continue to catapult its growth, targeting healthy markets east of the Mississippi River such as Miami, Fla; Cincinnati, Ohio; Milwaukee, Wis.; Columbia, S.C.; Boston, Mass.; and New York City. Internationally, the company is targeting expansion for Bahrain, Oman, Lebanon, Philippines, Turkey, Germany, Poland, Hungary and Pakistan.
Local real estate investment firm Carter-Haston has paid more than $40 million for a recently built apartment complex in Port Orange, Florida, just south of Daytona Beach. The White Palm Apartment Houses have about 300 units and were constructed by Birmingham-based LIV Development, which is planning a $40 million project in East Nashville.
3RD Home, the Nashville-based reciprocal travel club for owners of luxury second residences, has announced the addition of three affiliates.
The trio includes Tucker’s Point Club, a resort located on 200 acres in Tucker's Town, Bermuda; The Deer Valley Club, a private residence club located in Deer Valley Resort in Park City, Utah; and CostaBaja, located on the Sea of Cortez in Mexico's Baja California Peninsula and featuring a Gary Player Signature Golf Course.
Through the affiliation, terms of which were not disclosed in a release, 3RD Home (stylized as 3RD HOME) members will have access to the facilities, which are all considered five-star residence clubs and resorts.
“We are committed to increasing the variety of luxury travel opportunities for our members, and providing a valued service to the most prestigious residence clubs,” Wade Shealy, 3RD Home founder and CEO, said in the release. “Our partnerships with these top properties will allow us to offer 3RD HOME members an experience like no other, and increase the utility of owning at these great communities.”
The announcement follows a similar announcement in March (read here).
The already-struggling shares of Noranda Aluminum Holding were being crushed Monday after a Citi analyst cut his rating and price target on the stock and investors took down most things related to commodities on fears that global growth is again slowing. Citi analyst Brian Yu lowered his opinion of Noranda to 'neutral' from 'buy' and now has a price target of $4.50, down from $7. At about 2:20 p.m., Noranda shares (Ticker: NOR) were off more than 8 percent to about $3.60.
On a related note, Delek US Holdings (Ticker: DK) were down 7 percent as investors also sold off oil refiners, many of which have run up big time so far this year.
Louisiana-Pacific shares also were giving up a significant ground Monday after a National Association of Home Builders/Wells Fargo index showed that home builders' optimism fell this month to its lowest level since October. In addition to complaints about material costs and getting the loans they need to build, builders are now showing some concern about consumer demand, the report said. That stung LP (Ticker: LPX) to the tune of almost 9 percent on volume that will more than triple the stock's daily average.
3RD Home, the Nashville-based reciprocal travel club for owners of luxury second homes, has added three members to its roster of partners.
The trio are The Residence Club at PGA West in Palm Springs, Calif. The Residences at The Chateaux in Park City, Utah, and One Ski Hill Place in Breckenridge, Colo.
“Our newfound partnerships with these three award-winning properties reinforce the continued expansion and development of 3RD HOME, offering members an experience like no other,” Wade Shealy, 3RD Home CEO and founder, said in a release. “We are certain that PGA West, The Chateaux Residences and One Ski Hill Place exceed the expectations of our discerning members. We are excited to collaborate with these extraordinary properties as well as welcome their current owners to join 3RD HOME.”
Through 3RD Home’s affiliate program, members are granted exclusive access to five-star residence clubs and resort experiences.
BMO Capital Markets analyst Stephen Atkinson kicked off his week by lifting his price target for shares of Louisiana-Pacific to $25 from $24. While it's not a huge move, it has helped the stock (Ticker: LPX) stay ahead of a lackluster market today. As of 1:35 p.m., the shares were up 1 percent to $22.52, putting them within 3 percent of their highest levels since the first few weeks of 2007. They've climbed 170 percent in the past year as housing market optimism has risen.
Louisiana-Pacific executives says European regulators have approved them to sell a new series of engineered wood products across the continent. Six wholesalers now distribute the company's goods in the United Kingdom and the Benelux countries. LP International Sales Manager Al Huber says he's hunting for partners in France and Germany.
POSTDATA: WARRANTY DEEDS