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Allianz Acquires $384 Million Stake in New York’s Iconic 30 Hudson Yards Office Building

Business Wire



Reading Time: 4 minutes

MUNICH & NEW YORK–(BUSINESS WIRE)–Allianz has invested $384 million for a 49 percent interest in an office
condominium in New York’s iconic 30 Hudson Yards office building.
Allianz has entered into a sale-leaseback agreement as part of a
consortium alongside Related Companies and a third-party investor, who
have acquired the remainder of the office condominium.

The acquisition, which has been completed by Allianz Real Estate on
behalf of several Allianz group insurance companies, follows the
purchase of a 44 percent stake in 10 Hudson Yards, the first tower
completed in the Hudson Yards development on Manhattan’s West Side, in
mid-2016 for $420 million. The 30 Hudson Yards transaction will make New
York the fifth most significant city for Allianz Real Estate, globally,
in terms of total exposure.

The condominium in 30 Hudson Yards consists of 1,463,234 gross square
feet across 26 floors. The 2.6 million square foot tower is the
second-tallest office building in New York and home to the highest
outdoor observation deck in the city. The 90-story, LEED CS
Gold-certified building stands 1,296 feet tall and features
river-to-river panoramic views, outdoor terraces, a triple-height lobby
with a dramatic art installation by Jaume Plensa, direct access to
restaurants and retailers and a concourse connection to the new Number 7
Subway Station.

The acquisition of the condominium interest in 30 Hudson Yards is the
latest high-quality purchase by Allianz in the U.S. in cooperation with
best-in-class partners. In 2018, Allianz Real Estate deployed $728
million in new equity transactions in the U.S., including the historic
Ferry Building in San Francisco, 53 State Street in Boston and the
Terminal Stores in New York City. At year-end, U.S. assets under
management totaled a record $18 billion, including both equity and debt.

“We are delighted to announce this latest transaction in our key New
York market, a deal that highlights our focus on prime assets and our
commitment to working with exceptional partners such as Related, a
market leader in environmentally conscious real estate development and
operations. 30 Hudson Yards is a highly attractive investment
opportunity on a long-term view, underpinned by a prime tenant and the
very highest environmental and technical standards,”
said Christoph
Donner, CEO, Allianz Real Estate of America.

“The U.S. continues to play an active, central role in our global
diversification strategy, with our focus firmly on tier 1 cities such as
New York, Boston and San Francisco. 30 Hudson Yards is a landmark asset
in a city of iconic buildings, and we are truly delighted to seize this
chance to further grow our U.S. equity portfolio on behalf of Allianz
group insurances companies,”
said François Trausch, CEO, Allianz
Real Estate. “We will continue to seek out additional opportunities.”

About Allianz
The Allianz Group is one of the world’s
leading insurers and asset managers with more than 92 million retail and
corporate customers. Allianz customers benefit from a broad range of
personal and corporate insurance services, ranging from property, life
and health insurance to assistance services to credit insurance and
global business insurance. Allianz is one of the world’s largest
investors, managing around $755 billion on behalf of its insurance
customers. Furthermore, our asset managers PIMCO and Allianz Global
Investors manage more than $1.5 trillion of third-party assets. Thanks
to our systematic integration of ecological and social criteria in our
business processes and investment decisions, we hold the leading
position for insurers in the Dow Jones Sustainability Index. In 2018,
over 142,000 employees in more than 80 countries achieved total revenues
of $147 billion and an operating profit of $12.9 billion for the group.

About Allianz Real Estate
Allianz Real Estate is the
strategic real estate organization within the Allianz Group and a
leading international real estate investment and asset manager. Allianz
Real Estate develops and executes worldwide tailored portfolio and
investment strategies on behalf of the Allianz companies, considering
direct as well as indirect investments and real estate loans. The
operational management of investments and assets is currently performed
in 5 regions, West Europe (Belgium, France, Italy, Luxembourg, Portugal,
Spain), North & Central Europe (Austria, CEE, Germany, Ireland,
Nordics), Switzerland, USA and Asia Pacific. The headquarters of Allianz
Real Estate are located in Munich and Paris. Allianz Real Estate has
approximately $71.2 billion assets under management.

Please note: Allianz Real Estate, 31/12/18 up to 30/06/18, data
published included all commercial equity and debt real estate
investments of the Allianz Group. With effect from 31/12/18, AUM aligned
to Allianz Real Estate includes the portfolio overseen by Allianz Real
Estate GMBH and its affiliates and excludes those managed by other parts
of the Allianz Group.

These assessments are, as always, subject to the disclaimer provided

Cautionary note regarding forward-looking statements
document includes forward-looking statements, such as prospects or
expectations, that are based on management’s current views and
assumptions and subject to known and unknown risks and uncertainties.
Actual results, performance figures or events may differ significantly
from those expressed or implied in such forward-looking statements.
Deviations may arise due to changes in factors including, but not
limited to, the following: (i) the general economic and competitive
situation in the Allianz Group’s core business and core markets, (ii)
the performance of financial markets (in particular market volatility,
liquidity and credit events), (iii) the frequency and severity of
insured loss events, including those resulting from natural
catastrophes, and the development of loss expenses, (iv) mortality and
morbidity levels and trends, (v) persistency levels, (vi) particularly
in the banking business, the extent of credit defaults, (vii) interest
rate levels, (viii) currency exchange rates, most notably the EUR/USD
exchange rate, (ix) changes in laws and regulations, including tax
regulations, (x) the impact of acquisitions including and related
integration issues and reorganization measures and (xi) the general
competitive conditions that, in each individual case, apply at a local,
regional, national and/or global level. Many of these changes can be
exacerbated by terrorist activities.

No duty to update
The Allianz Group assumes no obligation to
update any information or forward-looking statement contained herein,
save for any information we are required to disclose by law.

The figures regarding the net assets, financial
position and results of operations have been prepared in conformity with
International Financial Reporting Standards. Information is based on
preliminary figures. Final results for fiscal year 2018 was released on
March 8, 2019 (publication of the Annual Report).

This is a translation of the German Quarterly and Full Year Earnings
Release of the Allianz Group. In case of any divergences, the German
original is binding.

Privacy note
Allianz SE is committed to protecting your
personal data. Find out more in our Privacy


Allianz enquiries:

Allianz Real Estate
Roland Deger
+49 89 3800 8234
172 73 300 23

Phillip Lee
+49 89 3800 18503

Citigate Dewe Rogerson (UK)
Oliver Parry / Hugh Fasken
(0) 20 7025 6477

Padilla (U.S.)
David Heinsch
O: 612 455 1768 / M: 612
802 9024

James Walker
O: 612 455 1749 / M: 651 230 7401

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Business Wire

Motorola Solutions to Showcase the Latest in Mission-Critical Innovation at CCW 2019

Business Wire



Reading Time: 2 minutes

Enabling public safety and enterprise organisations to rise to the
challenge with a complete, integrated mission-critical ecosystem

will demonstrate how its advanced, mission-critical
solutions enable public safety and enterprise organisations to overcome
their most complex challenges at Critical
Communications World 2019
(June 18-20, MITEC, Kuala Lumpur,
Malaysia, booth G30).

At CCW 2019, Motorola Solutions will showcase a comprehensive set of
innovations spanning mission-critical communications, command centre
software, video security solutions and managed and support services.

Mission-critical communications are essential to maintaining safety and
security for our communities, from daily operations to extreme events
including disaster recovery. These solutions are essential for the Asia
Pacific region, as evidenced by a United Nations report estimating that
economic losses from natural disasters could reach USD$160
billion annually by 2030
. Organisations also demand new solutions to
augment voice communication with the unprecedented volumes of data and
video available today.

To address this need, Motorola Solutions has brought together a
comprehensive, integrated mission-critical ecosystem of technologies

  • Mission-Critical Communications: including the TLK100
    and LEX
    L11 LTE
    devices that show what is possible over LTE networks and
    the ultra-portable LXN505
    public safety LTE infrastructure system.
  • Command Centre Software: to streamline and simplify daily
    workflows including CommandCentral
    , the world’s only unified, proven, end-to-end public safety
    applications suite.
  • Video Security Solutions: including the latest from Avigilon’s
    video security and analytics portfolio including the H4
    Thermal camera
    with self-learning video analytics.
  • Managed & Support Services: to enable customers to focus on
    their mission while staying ahead of cybersecurity threats.

Having access to the right data enables organisations to make fast and
accurate decisions about where to place their valuable resources, which
work to prioritise and how to prepare for their most challenging
events,” Motorola Solutions corporate vice president, Mike deVente, said.

The mission-critical ecosystem we are demonstrating at CCW draws on our
90 year heritage of innovation and our strong understanding of
customers’ daily operational needs,” he said.

At CCW, commercial customers in the transportation, energy and utilities
segments will also learn how Motorola Solutions’ mission-critical
ecosystem and the innovations in critical communications can be
customised to meet their needs. One recent example of this is Motorola
Solutions’ successful integration work with Siemens to achieve railway
signalling over TETRA networks to European Train Control System (ETCS)
Level 2 standards.

About Motorola Solutions

Motorola Solutions is a global leader in mission-critical
communications. Our technology platforms in communications, command
center software, video security solutions and managed and support
services make cities safer and help communities and businesses thrive.
At Motorola Solutions, we are ushering in a new era in public safety and
security. Learn more at

MOTOROLA, MOTOROLA SOLUTIONS and the Stylized M Logo are trademarks
or registered trademarks of Motorola Trademark Holdings, LLC and are
used under license. All other trademarks are the property of their
respective owners. ©2019 Motorola Solutions, Inc. All rights reserved.


Media Contacts
Damien Batey
Motorola Solutions
Mobile: +61
(0) 428 036 806

Motorola Solutions
Mobile: +65 9755 7025

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Business Wire

Motorola Solutions celebrates 45 years of global innovation in Malaysia

Business Wire



Reading Time: 2 minutes

Mission-critical ecosystem of technologies developed in Penang, taken
to the world

PENANG, Malaysia–(BUSINESS WIRE)–Motorola
 is celebrating 45 years of innovation in Malaysia,
recognising the country’s highly skilled engineering talent and
capability to deliver advanced technologies for customers all over the

Motorola Solutions first established supply chain operations in Penang,
Malaysia in 1974. Today, it develops technologies across its
mission-critical technology ecosystem at the facility.

In 2014 the company opened its ‘Innoplex’ research and development (R&D)
centre in Penang, its largest R&D centre outside of North America.
Equipped with state-of-the-art laboratories and product design and
development capabilities, the centre develops next generation Land
Mobile Radio (LMR), broadband-LTE devices and system solutions for
Motorola Solutions’ customers worldwide.

Leading-edge solutions and services designed and developed in Penang
have been deployed by public safety agencies across the world. This
includes the trusted APX
8000HXE HazLoc radio
 used by fire and rescue teams working in the
presence of chemicals and gases and the WAVE
TLK100 Two-Way Radio
 that enables coverage on nationwide cellular
networks with the ease of two-way radio communication and functionality.

The Innoplex continues to deliver a variety of innovative services
including 24/7 network monitoring, management and guaranteed reliability
for Motorola Solutions’ mission-critical customers.

Malaysia prominent within expanding Asia Pacific talent base

Motorola Solutions’ thriving operations in Malaysia have enabled it to
expand its Penang workforce from 10 software engineers to a team of more
than 1,700 today. These highly-skilled roles include industrial design,
software, electrical, electronics and mechanical engineering.

Penang’s expert teams conduct rigorous compliance testing to meet and
exceed product standards all over the world while continuing the
development of new solutions in partnership with customers.

Motorola Solutions’ rapidly growing software engineering workforce in
Asia Pacific is now approaching 2,000. This includes 160 video analytics
and AI specialists in Vietnam added through the recent acquisition of VaaS and
60 mobile applications developers with Gridstone in

Motorola Solutions continues to evolve its mission-critical ecosystem
of technologies across voice, video security, software and managed
services. Our highly skilled teams in Malaysia play a significant role
in developing these technologies and accelerating their adoption all
over the world,” said John Andersen, deputy managing director of the
Motorola Solutions Penang Operations and Design Centre.

We are proud to have extended our journey to 45 years and look forward
to continuing to take Malaysian innovation to the world,” he said.

Through its charitable arm, the Motorola Solutions Foundation, the
company has provided more than USD $700,000 to support Malaysian
initiatives to advance education and research within STEM-related
fields. This includes the Penang Science Cluster which educates more
than 3,000 students and 300 teachers from 75 schools on design thinking
process, coding and electronics.

About Motorola Solutions

Motorola Solutions is a global leader in mission-critical
communications. Our technology platforms in communications, command
centre software, video security solutions and managed and support
services make cities safer and help communities and businesses thrive.
At Motorola Solutions, we are ushering in a new era in public safety and
security. Learn more at

MOTOROLA, MOTOROLA SOLUTIONS and the Stylized M Logo are trademarks
or registered trademarks of Motorola Trademark Holdings, LLC and are
used under license. All other trademarks are the property of their
respective owners. ©2019 Motorola Solutions, Inc. All rights reserved.


Damien Batey
Motorola Solutions
Mobile: +61 (0) 428 036 806

Michael Lee
Motorola Solutions
Mobile: +65 9755 7025

Continue Reading

Business Wire

Deadline Reminder: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Ra Medical Systems, Inc.

Business Wire



Reading Time: 2 minutes

BENSALEM, Pa.–(BUSINESS WIRE)–$RMED #classaction–Law Offices of Howard G. Smith reminds investors of the upcoming August
9, 2019 
deadline to file a lead plaintiff motion in the class
action filed on behalf of investors who purchased Ra Medical Systems,
Inc. (“Ra Medical” or the “Company”) (NYSE: RMED)
securities pursuant and/or traceable to the registration statement and
prospectus (collectively, the “Registration Statement”) issued in
connection with the Company’s September 2018 initial public offering
(“IPO” or the “Offering”).

Investors suffering losses on their Ra Medical investments are
encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights in this class action at 888-638-4847 or by email to

In September 2018, Ra Medical completed its initial public offering
(“IPO”), issuing approximately 4.5 million shares of common stock priced
at $17 per share. On March 14, 2019, the Company revealed that its
fourth quarter 2018 financial results had been negatively impacted by
issues related to the hiring and training of qualified sales personnel
and certain production limitations.

On this news, the Company’s share price fell $2.14 per share, nearly
33%, to close at $4.43 per share on March 15, 2019, thereby injuring
investors. Since the IPO, Ra Medical’s stock has traded as low as $3.40
per share, significantly below the $17 offering price.

The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about
the Company’s business, operations, and prospects. Specifically,
Defendants failed to disclose to investors: (1) that the Company’s
evaluation of sales personnel candidates was inadequate; (2) that the
Company’s training program for sales personnel was inadequate; (3) that,
as a result, the Company could not reasonably assure that its newly
hired sales personnel were adequately experienced; (4) that, as a
result, the Company would suffer a shortage of qualified sales
personnel; (5) that the Company’s manufacturing process could not
reasonably support increased catheter production; (6) that, as a result,
the Company would suffer production delays; and (7) that, as a result of
the foregoing, Defendants’ positive statements about the Company’s
business, operations, and prospects were materially misleading and/or
lacked a reasonable basis.

If you purchased shares of Ra Medical during the Class Period you may
move the Court no later than August 9, 2019 to ask the
Court to appoint you as lead plaintiff if you meet certain legal
requirements. To be a member of the class action you need not take any
action at this time; you may retain counsel of your choice or take no
action and remain an absent member of the class action. If you wish
to learn more about this class action, or if you have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Howard G. Smith, Esquire, of Law Offices
of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania
19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by
email to,
or visit our website at

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.


Law Offices of Howard G. Smith
Howard G. Smith, Esquire

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