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Regency Affiliates Announces Release Of Financial Statements For Second Quarter Of 2015
Regency Affiliates Announces Release Of Financial Statements For Second Quarter Of 2015.
About this update from Regency Affiliates, Inc.
[{"type":"text","content":"\n\n\n\nRegency Affiliates Announces Release Of Financial Statements For Second Quarter Of 2015\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nRegency Affiliates Announces Release Of Financial Statements For Second Quarter Of 2015\nPR Newswire\nNEW YORK, Sept. 9, 2015\n\n\n\nNEW YORK, Sept. 9, 2015 /PRNewswire/ -- Regency Affiliates, Inc. (OTC Pink: RAFI) (\"Regency\") today announced the release of its financial statements for the second quarter of 2015.\n\nManagement Comments \n\n\"We are pleased with the financial strength and consistency of our investments,\" commented Laurence Levy, Chairman of the Board of Directors and President of Regency. \"Further, we believe that the cash flow and asset growth that we have seen in the recent past should continue in the future.  Our financial position continues to strengthen and this trend has enabled us to increase our quarterly dividend beginning in October of 2015.\" \n\n\"Our Security West investment represents a 50% indirect interest in real estate occupied by the United States Social Security Administration under a lease expiring in 2018. This lease has paid the mortgage on the property down from $98.5 million at the lease commencement on June 24, 2003, to $34.2 million as of August 15, 2015. We anticipate that the mortgage will be amortized by more than $6.8 million in 2015. Additionally, Regency owns an indirect 50% interest in Mobile Energy which owns and operates an energy facility located in Mobile, Alabama. The facility supplies co-generated steam and electricity for use in Kimberly-Clark's mill operations under a 15 year agreement signed in 2004. This investment currently generates in excess of $2.7 million of cash distributions per annum for Regency.  Since our investment in Mobile Energy, the debt on that entity has been amortized from $28.5 million on the date of our investment on April 30, 2004 to the current balance of $10.6 million.\" \n\n\"We are continuing to review and evaluate further investment opportunities for Regency, and intend to grow the company by investing in other attractive...