Latest news with #DST
Yahoo
an hour ago
- Business
- Yahoo
Bluerock Value Exchange Launches $37.8 Million 1031 Exchange BR Churchill Downs Multifamily DST in Pinehurst, NC
NEW YORK, June 20, 2025 /PRNewswire/ -- Bluerock Value Exchange (BVEX), a 20-year, national sponsor of 1031 exchange and Delaware Statutory Trust (DST) investment programs, announced the launch of its latest 1031 exchange/DST offering known as BR Churchill Downs, DST ("Churchill Downs" or "DST") which is seeking to raise approximately $37.8 million from accredited investors. Churchill Downs multifamily offering represents BVEX's 42nd individual DST program. BVEX believes Churchill Downs represents an attractive investment opportunity in a unique low-density, direct-entry townhome and garden-style apartment community located in the Pinehurst, North Carolina Metro, which ranks in the top 10 among all small market regions in the U.S. and is known as the home of American Golf.1,2 The DST seeks to provide investors with monthly cash flow, the potential for appreciation driven by strong economic and population growth in the region, as well as the opportunity to significantly grow rental income through a targeted unit value-add / upgrade program. "We believe this is a very timely and favorable entry point for investing in apartments. The sector is poised to greatly benefit with forecasted increasing rents driven by a significant decline in new construction, which is leading to undersupply of housing options, the high cost of home ownership compared to renting, and continued high household formation," said Josh Hoffman, President of BVEX. "We selected Churchill Downs due to its well-respected national metro recognition and high growth location and the value-add / upgrade investment opportunity, which we believe can generate a great return on investment for investors," added Hoffman. About Bluerock Value Exchange With a 20-year track record, Bluerock Value Exchange is a national sponsor of syndicated 1031-exchange offerings with a focus on Premier Exchange Properties™ that seek to deliver stable cash flows and potential for value creation. Bluerock has structured 1031 exchanges of more than $2.8 billion in total property value and more than 14 million square feet of property. Additional information can be found at About Bluerock Bluerock is a leading institutional alternative asset manager with more than $19 billion of acquired and managed assets headquartered in Manhattan with regional offices across the U.S. Bluerock principals have a collective 100+ years of investing experience with more than $120 billion real estate and capital markets experience and have helped launch leading private and public company platforms. Additional information can be found at 1 POLICOM 2024 Economic Strength Rankings, Pinehurst Metro ranked #10 (out of 543) micropolitan regions in the nation. 2 Moore County Economic Development Partnership. View original content to download multimedia: SOURCE Bluerock Value Exchange
Edmonton Journal
14 hours ago
- Business
- Edmonton Journal
Canada won't pause digital services tax despite pressure from U.S., finance minister says
Article content OTTAWA — Canada won't put a hold on the digital services tax on big tech companies set to take effect on June 30, the finance minister said Thursday. Pressure has mounted on Ottawa to pause the tax ahead of trade discussions with the U.S. Article content Finance Minister Francois-Philippe Champagne said Thursday the legislation was passed by Parliament and Canada is 'going ahead' with the tax. Article content 'The (digital services tax) is in force and it's going to be applied,' he told reporters before a cabinet meeting on Parliament Hill. The digital services tax will hit companies like Amazon, Google, Meta, Uber and Airbnb with a three per cent tax on revenue from Canadian users. It will apply retroactively, leaving U.S. companies with a $2 billion US bill due at the end of the month. A June 11 letter signed by 21 members of Congress said U.S. companies will pay 90 per cent of the revenue Canada will collect from the tax. Canadian and U.S. business groups, organizations representing U.S. tech giants and American members of Congress have all signed letters in recent weeks calling for the tax to be eliminated or paused. It's set to take effect just weeks before a deadline Canada and the U.S. have set for coming up with a new trade deal, following months of trade conflict between the two countries. Article content Rick Tachuk, president of the American Chamber of Commerce in Canada, said the plan to go ahead with the tax 'undercuts those talks and risks derailing the agreement.' 'A retroactive tax like the DST, weeks before a new deal is supposed to be done, isn't a bargaining chip. It would likely be viewed as a provocation,' he said in an emailed statement. The Canadian Chamber of Commerce and other organizations have warned retaliatory measures in a U.S. spending and tax bill could hit Canadians' pension funds and investments. Champagne said Canada isn't the only country that could be affected by those retaliatory measures. 'These are discussions at the global level,' he said in French. Champagne said there's a wider discussion going on among G7 nations about tax regimes. David Pierce, the Canadian Chamber of Commerce's vice-president of government relations, said in an earlier interview his organization fears Canada could 'aggravate an already very tricky trade discussion with the Americans' if it goes ahead with the tax and the retroactive payment requirement. Article content Latest National Stories
Vancouver Sun
14 hours ago
- Business
- Vancouver Sun
Canada won't pause digital services tax despite pressure from U.S., finance minister says
OTTAWA — Canada won't put a hold on the digital services tax on big tech companies set to take effect on June 30, the finance minister said Thursday. Pressure has mounted on Ottawa to pause the tax ahead of trade discussions with the U.S. Finance Minister Francois-Philippe Champagne said Thursday the legislation was passed by Parliament and Canada is 'going ahead' with the tax. 'The (digital services tax) is in force and it's going to be applied,' he told reporters before a cabinet meeting on Parliament Hill. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. The digital services tax will hit companies like Amazon, Google, Meta, Uber and Airbnb with a three per cent tax on revenue from Canadian users. It will apply retroactively, leaving U.S. companies with a $2 billion US bill due at the end of the month. A June 11 letter signed by 21 members of Congress said U.S. companies will pay 90 per cent of the revenue Canada will collect from the tax. Canadian and U.S. business groups, organizations representing U.S. tech giants and American members of Congress have all signed letters in recent weeks calling for the tax to be eliminated or paused. It's set to take effect just weeks before a deadline Canada and the U.S. have set for coming up with a new trade deal, following months of trade conflict between the two countries. Rick Tachuk, president of the American Chamber of Commerce in Canada, said the plan to go ahead with the tax 'undercuts those talks and risks derailing the agreement.' 'A retroactive tax like the DST, weeks before a new deal is supposed to be done, isn't a bargaining chip. It would likely be viewed as a provocation,' he said in an emailed statement. The Canadian Chamber of Commerce and other organizations have warned retaliatory measures in a U.S. spending and tax bill could hit Canadians' pension funds and investments. Champagne said Canada isn't the only country that could be affected by those retaliatory measures. 'These are discussions at the global level,' he said in French. Champagne said there's a wider discussion going on among G7 nations about tax regimes. David Pierce, the Canadian Chamber of Commerce's vice-president of government relations, said in an earlier interview his organization fears Canada could 'aggravate an already very tricky trade discussion with the Americans' if it goes ahead with the tax and the retroactive payment requirement. Matthew Holmes, the chamber's executive vice-president and chief of public policy, said in a statement that a Liberal government announcement on counter-tariffs to protect the steel and aluminum industries Thursday was 'geared toward the 30-day deadline, so we see no reason why DST's timeline shouldn't be as well.' He said a 'short-term pause would still be a prudent move to keep negotiations on track and respectful.' The Liberals first promised the tax in the 2019 election. It was delayed for years due to global efforts to establish a broader, multinational digital taxation plan. Following significant delays in that process at the Organization for Economic Co-operation and Development, Canada went ahead with its own tax. Other countries, including France and the United Kingdom, also have digital service taxes in place. Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our newsletters here .
Ottawa Citizen
14 hours ago
- Business
- Ottawa Citizen
Canada won't pause digital services tax despite pressure from U.S., finance minister says
OTTAWA — Canada won't put a hold on the digital services tax on big tech companies set to take effect on June 30, the finance minister said Thursday. Article content Article content Finance Minister Francois-Philippe Champagne said Thursday the legislation was passed by Parliament and Canada is 'going ahead' with the tax. Article content Article content 'The (digital services tax) is in force and it's going to be applied,' he told reporters before a cabinet meeting on Parliament Hill. Article content Article content The digital services tax will hit companies like Amazon, Google, Meta, Uber and Airbnb with a three per cent tax on revenue from Canadian users. Article content It will apply retroactively, leaving U.S. companies with a $2 billion US bill due at the end of the month. A June 11 letter signed by 21 members of Congress said U.S. companies will pay 90 per cent of the revenue Canada will collect from the tax. Article content Canadian and U.S. business groups, organizations representing U.S. tech giants and American members of Congress have all signed letters in recent weeks calling for the tax to be eliminated or paused. Article content It's set to take effect just weeks before a deadline Canada and the U.S. have set for coming up with a new trade deal, following months of trade conflict between the two countries. Article content Article content Rick Tachuk, president of the American Chamber of Commerce in Canada, said the plan to go ahead with the tax 'undercuts those talks and risks derailing the agreement.' Article content Article content 'A retroactive tax like the DST, weeks before a new deal is supposed to be done, isn't a bargaining chip. It would likely be viewed as a provocation,' he said in an emailed statement. Article content The Canadian Chamber of Commerce and other organizations have warned retaliatory measures in a U.S. spending and tax bill could hit Canadians' pension funds and investments. Article content David Pierce, the Canadian Chamber of Commerce's vice-president of government relations, said in an earlier interview his organization fears Canada could 'aggravate an already very tricky trade discussion with the Americans' if it goes ahead with the tax and the retroactive payment requirement.
Hamilton Spectator
21 hours ago
- Business
- Hamilton Spectator
Canada will impose new counter-tariffs against U.S. if it can't make a trade deal in 30 days, Mark Carney says
OTTAWA — Canada will impose a new wave of counter-tariffs if it cannot reach a deal within 30 days to resolve the trade dispute with the Trump administration, says Prime Minister Mark Carney. Speaking in Ottawa on the eve of a key meeting tomorrow between the negotiating teams, Carney announced a suite of new countermeasures, including adjusting existing counter tariffs on U.S. steel and aluminum products on July 21, at the end of that 30-day period. 'In other words, we're going to adjust them to levels consistent with the progress that's made at that point on the broader trading arrangements with the United States,' he said. Carney also announced a Buy Canadian policy for steel and aluminum used in federal procurement. 'Only Canadian producers and producers from trading partners that provide Canada with tariff free reciprocal access through trade agreements, can compete for federal government procurement of steel and aluminum,' he said. Carney wants an immediate end to the so-called 'border emergency' tariffs and the sectoral tariffs on autos, steel and aluminum that U.S. President Donald Trump has hit Canada with. But he said, 'it's a negotiation,' acknowledging there may not be an immediate lift to all of them. 'There is still some room to travel, so to speak, before we get to that point. But we have a deadline in order to achieve that, and if it's in Canada's interest, we'll sign it,' Carney said. With the move, the Carney government is putting more pressure on Canadian and U.S. negotiators to outline the path to a more predictable trade relationship. Carney also announced new tariffs of 100 per cent on foreign imports of steel from 'non-free trade agreement partners to stabilize the domestic market and prevent harmful trade diversion as the result of the U.S. actions that are destabilizing markets.' He said Trump did not ask him to institute the anti-dumping measure, but it has been a call made by steel producers in Canada. Ottawa also signalled that its digital services tax, which Trump calls an unfair trade practice and wants to eliminate, will apply even as Carney's team is in pitched negotiations to reach a deal. Finance Minister Francois-Philippe Champagne told reporters, 'This was voted by Parliament so we're going ahead with the DST. 'But obviously, you know, all of that is something that we're considering as part of broader discussions that you may have, but the DST is in force and it's going to be applied.' Champagne said he and other G7 finance ministers have discussed different regimes of taxation that affect Big Tech at length with the Americans. 'This is not the big thing. The big thing is all the (value-added taxes) and other type of taxes you have around the world,' he said. 'And we had a discussion at the G7 about a few weeks ago, and even in Washington last time, to explain to our American colleagues that, a lot like the VAT they have in Europe and the GST we have in Canada, is neutral, so that it applies to goods … there's no distinction in terms of imports and exports. So we're going to continue to have these discussion and make our case.' Asked if retaining the digital services tax is a red line for Canada in the current trade dispute with the U.S., Champagne said, 'Listen, the tax is in Canada, the tax applies and will apply.' Carney's surprise scheduling of a news conference Thursday afternoon set back a planned news conference by the Canadian Steel Producers Association and the United Steel Workers, who were set to outline their urgent call for immediate action as the 50 per cent steel tariffs Trump imposed are squeezing domestic producers. They have previously called for the full imposition of tit-for-tat counter-tariffs against U.S. steel without any exemptions. During the election campaign, the Carney government authorized exemptions for Canadian imports of U.S. steel and aluminum products — called remissions — that amount to about $8 billion. But most of those exemptions favour importers of American steel, which Canadian steel producers say has given their competitors an advantage.
