Page 13 - Development Segment News Today : Breaking News, Live Updates & Top Stories | Vimarsana

First Quarter Operational Highlights Phase II (The Maren) of the development known as RiverFront on the Anacostia in Washington, D.C., reached stabilization meaning 90% of the individual apartments had been leased and occupied by third party tenants. The attainment of stabilization resulted in a change of control for accounting purposes as the veto rights of the minority shareholder lapsed and the Company became the primary beneficiary. As such, beginning March 31, 2021, the Company consolidated the assets (at current fair value), liabilities and operating results of the joint venture. First ...

/EIN News/ -- JACKSONVILLE, Fla., May 03, 2021 (GLOBE NEWSWIRE) -- FRP Holdings, Inc. (NASDAQ-FRPH) First Quarter Operational Highlights Phase II (The Maren) of the development known as RiverFront on the Anacostia in Washington, D.C., reached stabilization meaning 90% of the individual apartments had been leased and occupied by third party tenants. The attainment of stabilization resulted in a change of control for accounting purposes as the veto rights of the minority shareholder lapsed and the Company became the primary beneficiary. As such, beginning March 31, 2021, the Company consolida...