Bathrooms can be an important aspect of a home buyer’s decision, and thus bathroom remodels are popular options for homeowners who want to increase their property’s value. Particularly in spaces such as lofts where expanding the floor plan may not be an option, a bathroom remodel can greatly increase the value of the space. Below, we’ll chat about our favorite bathroom remodeling trends that’ll increase your loft’s value!
Freestanding Bathtubs and Sinks
Freestanding bathtubs make a statement, and are becoming more in trend. The freestanding tub with practical home handrails will suit both modern and traditional styles, and while it may come at a larger cost upfront, it’ll pay off as the value of the space increases.
His and Hers Sinks
This is a great option to consider for both practical and aesthetic purposes. Especially in your master bath, you’ll find that buyers see great value in having two separate prep areas where two can get ready at the same time. These sinks will be framed by a beautiful mirror that makes the vanity the focus of the bathroom.
An Accent Wall
Just as many owners like to use the backsplash of the kitchen to make a statement, an accent wall can be perfectly integrated into the bathroom to provide contrast and add personality to the space. Many owners opt for marble, brick, or wood, that easily compliment the bathroom’s white countertops, but you can truly let your imagination run wild with this one.
Heated Bathroom Floors
This is a remodeling option that’ll undoubtedly add value to your space. The trend is becoming more and more popular as technology advances and people are starting to feel the luxury of stepping into the bathroom at night onto a warm heated floor. In addition to making sure you’re sealing doors and windows to keep the room free from a draft or cool air sneaking in during the night, heated floors add a spa-like element to your home.
Update your Lighting
Lighting is an important part of any bathroom, but the personality you can add to a space through the fixtures you choose is often overlooked. In addition to adding dimmers to the lighting, you can find chandeliers or hanging fixtures that’ll add a luxurious feel to your space.
Waterfall Showers
Waterfall showers used to be a luxurious touch reserved just for the spa, yet many homeowners are now bringing the waterfall effect into their home showers. A waterfall instantly ups your shower game and makes anyone feel as if they’ve just stepped into the spa.
Hidden Toilets
To add to the aesthetic value and spa-like design many homeowners desire, many owners are opting for hidden toilets, installing small enclosures. This adds a sense of privacy and makes the space feel more like an oasis.
Add Greenery
Without color, the bathroom can feel very drab. As an inexpensive fix, you can add plants to brighten and liven up the space and make it feel more inviting.
Whether you’re looking to do a major renovation or a smaller scale one, the bathroom is a great space to target. By adding modern elements and livening up the space, you’ll add a ton of value to your loft! Matt Lee is the owner of the Innovative Building Materials blog and a content writer for the building materials industry. He is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that save money, improve energy efficiency, and increase property value.
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The L.A. Loft Blog has received many requests for more information about the massive incomplete construction project that lies directly between Staples Center and Flower Street Lofts in Downtown Los Angeles. Here’s an update with details just in about the stalled megaproject: | Blog Video
We would like to point your attention to the information we found in China as it relates to the stepdown of Chairman, Lu Zhiqiang. The only information we could find in the US news is reported on Bloomberg that there is a new Chairman in place, as well as two new Vice Chairmans. Why did Mr. Lu Zhiqiang step down quietly without any news being released about the new leadership team put in place? Furthermore, news sources in China believe that Chairman Lu is hiding in San Francisco currently and possibly has been in the United States for a while.
City of Los Angeles: Ocean of Corruption
Knowing that the Chairman, Lu Zhiqiang, has stepped down and a new Chairman, Song Hongmou, has been put in place, and auditor PWC has resigned, one can draw their own conclusions as to possibilities of issues within Oceanwide Holdings and the potential for findings in connection with the ongoing FBI investigation with Los Angeles City Councilman, Jose Huizar. Please note, we have not done the research of possible connections to corruption in their other locations in the US but perhaps this is worth digging into?
Finally, to note, many of the articles we found surrounding Oceanwide Los Angeles, the Mechanics Liens mentioned are approximately $100 million. It is our understanding through public records and filings, the mechanic liens have climbed to $180 million. The EB-5 loans will be coming due in 2021 (no further extensions) and it is highly unlikely a project of this nature, with no ability to fund will be completed in time to pay such notes.
February 27, 2019
PWC RESIGNS AS AUDITOR FOR CHINA OCEANWIDE FOLLOWING PROFIT WARNING
“LA Councilman Jose Huizar Arrested By FBI, Accused Of Leading ‘Criminal Enterprise’ From City Hall. Huizar was named in another search warrant the FBI issued to Google in July 2018, which suggested the feds were digging into “development projects in and around Los Angeles that relate to foreign investors.” Chinese development firms like Oceanwide Holdings were included in the warrant, which requested information from the Gmail account of Raymond Chan, former head of the city’s Department of Building and Safety. Chan later worked as a deputy mayor and then at the private firm CCC Investment Group”
As of the end of the first quarter 2020, Oceanwide Holdings is rushing into deep crisis. The company as the guarantor of the group’s multiple projects in the US covering San Francisco, Los Angeles and New York, etc., its critical financial condition will seriously delay the subsequent progress of these projects.
Debt: a tremendous amount of debt will be due before the end of 2020
In 2020, the company’s rigid payment debt will mainly consist of credit bonds due in 2020, non-standard financing and interest payable of the interest-bearing debt.
As of the issue date of this report, the principal amount of the credit bonds due / sold-back within 2020 is about US $1.04 billion, the overseas senior bonds is bout US $420 million, the scale of non-standard product debt is about US $910 million, and the comprehensive financing cost of all interest bearing debt is about 8.64%.
According to the calculation, the interest expenditure in 2020 is about US $970 million. Therefore, it is estimated that the amount of newly paid debts of the company will be about US $3.34 billion in 2020.
Profitability: revenue is sharply falling and first quarter result turns out to be loss
From January to March 2020, the company’s total operating revenue is about US $333 million with 18.71% decrease comparing with that of same period last year. The total profit was USD -29 million, which turned into a loss. The profitability declined significantly, mainly due to the impact of the epidemic on the real estate development and financial business of the company.
Credit Rating: rating has been substantially downgraded by top credit rating firms
In March this year, the rating of Oceanwide Holdings was twice downgraded by international rating agencies. On March 3, S & P downgraded the long-term issuer credit rating of Oceanwide Holdings to “CCC” and the long-term issuance rating of senior unsecured notes to “CCC -“. On March 19, Fitch lowered the Long-Term Foreign-Currency Issuer Default Rating and senior unsecured rating of Oceanwide Holdings from “B -” to “CCC +”. At the same time, both institutions believe that the short-term maturity debt of Oceanwide Holdings is quite large and the risk is increasing.
Financing: company faces great difficulties in large fund raising
Looking back on the bond financing of Oceanwide Holdings in the past six months, it has not made smooth progress. Since the end of last year, the company has repeatedly issued bonds and failed to obtain full market subscription.
As of December 25, 2019, the planned public issuance of corporate bonds did not exceed US $315 million and the final actual issuance amount was around US $71 million; as of January 23 of this year, the planned public issuance of bonds was no more than US $243 million and the final actual issuance amount was around US $171 million; as of February 26 of this year, Oceanwide Holdings planned to issue no more than US $71 million of corporate bonds and the final actual issue amount was about US $57 million. In addition to its overseas rating downgrade, it is expected that the overseas issuance of bonds by Oceanwide Holdings will be very difficult.
Guarantee: external guarantee balance is reaching 300% of the net assets
According to the announcement of Oceanwide Holdings on June 19, the total guarantee amount of the company and its holding subsidiaries in 2020 was expected to be about US $8.9 billion. The actual external guarantee balance of the company and its holding subsidiaries is about US $8.63 billion, which is 281.38% of the parent company’s audited net assets as of December 31, 2019.
Appendix
Company Main Financial Data and Indicators
Item
Year 2017
Year 2018
Year 2019
March 2020
Main financial data and Indicators
Total asset ($m)
26,825
30,300
25,410
25,580
Shareholders’ equity ($m)
3,928
4,061
4,730
4,818
Equity attributable to shareholders of the parent company ($m)
2,867
2,874
3,068
3,065
Total liability ($m)
22,897
26,238
20,681
20,763
Short-term debt ($m)
6,807
7,265
6,660
6,724
Long-term debt ($m)
9,930
10,113
5,875
6,040
Total debt ($m)
16,737
17,378
12,535
12,763
Operating income ($m)
1,198
715
432
23
Total profit ($m)
578
192
344
-29
Net profit ($m)
442
148
204
-19
EBITDA ($m)
903
545
798
–
Net cash flow from operating activities ($m)
-2,751
1,315
796
-242
Net cash flow from investing activities ($m)
-356
-400
1,046
44
Net cash flow from financing activities ($m)
1,113
-1,393
-1,808
153
Asset/liability ratio (%)
85.36
86.60
81.39
81.17
Long-term debt/capitalization ratio (%)
71.66
71.35
55.40
55.63
Total debt/capitalization ratio (%)
80.99
81.06
72.61
72.60
Non-financing net cash flow/debt ratio (%)
-18.57
5.27
14.69
–
Main Indicators of Company’s Solvency (%, multiple)
Indicator
Year 2017
Year 2018
Year 2019
March 2020
Current ratio
151.19
135.19
134.35
135.92
Quick ratio
57.01
52.11
74.95
74.39
Cash/short-term debt
0.40
0.43
0.39
0.38
Operating cash/current liability
-21.46
8.26
5.46
–
EBITDA/interest multiple
0.86
0.46
0.73
–
Total debt/EBITDA
18.54
31.90
15.70
–
* Exchange Rate for US Dollar/ RMB: 1/7
The company’s solvency condition is deteriorating due to the delay in sales of its US assets caused by the Covid-19 pandemic and the sluggish economy.
Controlling Shareholding Structure
*March 31, 2020
According to the Shareholder Chart, Zhiqiang Lu indirectly occupies 55% shares of Oceanwide Holdings Co., Ltd, but, he curiously resigns both positions of Chairman and Enterprise-juristic Person on May 25, 2020.
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