New development expands affordable housing opportunities for adults 55+ and includes supportive housing units for vulnerable populations

FAYETTEVILLE, N.C., June 26, 2026 /PRNewswire/ — WNC & Associates, Inc. (WNC), a family-owned business known as both a pioneer and leader in the affordable housing industry joined Resource Housing Group, Inc. and East Carolina Community Development, Inc. to celebrate the grand opening of Cliffmore Park, a new 72-unit affordable housing community for adults ages 55 and older located at 5133 Identity Lane in Fayetteville, NC.

Supported through the Low-Income Housing Tax Credit (LIHTC) program and serving households earning 40%, 50%, and 60% of Area Median Income (AMI), Cliffmore Park expands access to high-quality affordable senior housing. Cliffmore Park is WNC’s second affordable housing investment in Fayetteville, and the company invested approximately $6.5 million in equity to support the development.

“Cliffmore Park reflects the power of thoughtful partnerships to create housing that allows seniors to age with dignity, independence, and stability,” said Ryan Thayer, assistant vice president of originations at WNC. “We are grateful to Resource Housing Group, East Carolina Community Development, and our financing partners for helping bring this community to life. Together, we have created quality affordable housing with the amenities, services, and accessibility features that support healthy and connected lives.”

The new construction community consists of a three-story, elevator-served building featuring 36 one-bedroom and 36 two-bedroom units. Each apartment includes ceiling fans, washer and dryer hookups, central air conditioning, a dishwasher, a self-cleaning oven, a range hood, and emergency call buttons. Private storage is available, and the development was constructed to meet ENERGY STAR Multifamily New Construction Program certification standards. Shared spaces include on-site management offices, multiple lounges and seating areas on each floor, a multipurpose room with a kitchenette, a computer center, an exercise room, and laundry facilities. Outdoor amenities include a covered porch, gazebo, patio with picnic tables, and additional seating areas. 

The community offers convenient access to transportation, shopping, healthcare, a senior center, and recreation, and a Fayetteville Area System of Transit (FAST) bus stop is steps from the property.

In addition to serving seniors, 10% of the community’s units are designated through North Carolina’s Key Rental Assistance Program (KEY), which provides housing opportunities for individuals experiencing homelessness and people with disabilities.

Financing for the development included a construction loan from ServisFirst Bank, a permanent loan from Centrant Community Capital, a Rental Production Program loan from the North Carolina Housing Finance Agency, and a loan from the City of Fayetteville.

About WNC & Associates, Inc.
Founded in 1971, WNC & Associates, Inc. (WNC) is a family-owned business known as both a pioneer and leader in the affordable housing industry. WNC and its affiliated companies—Community Preservation Partners, The Cooper Housing Institute, and Preservation Equity Fund Advisors—specialize in tax credit syndication, affordable housing development, and preservation equity fund investments. Combined, the WNC companies have acquired approximately $21.7 billion in assets across 49 states, including more than 1,770 affordable rental properties that house more than 1 million residents. With offices in 18 states, WNC has partnered with more than 400 developers and 175 institutional investors. To learn more, visit: https://www.wncinc.com/.

MEDIA CONTACT:
Jacqie Boggess
boggess@weareinvariant.com

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SOURCE WNC & Associates, Inc.

The inaugural 1099 Earnings Report benchmarks revenue and expenses across 31 industries and finds a sharp divide between service work and product-based businesses.

NEW YORK, June 26, 2026 /PRNewswire/ — Independent work is usually measured by how many people do it, not by what they earn. A new report from 1-800Accountant, America’s leading virtual accounting firm, takes the opposite approach. The 1099 Earnings Report analyzes self-reported revenue and expense data across thousands of 1099 businesses, freelancers, and independent contractors, then ranks the results by industry the way a quarterly earnings report ranks a market. The finding that stands out: in 10 of the 31 industries measured, the typical business reports more in expenses than in revenue, meaning it runs at a loss on paper.

The report points to a clear split between two kinds of work. Knowledge and service industries earn more and keep more of what they earn, while product and inventory industries earn less and spend more to do it. Across all 31 industries, typical revenue and the expense ratio carry a strong negative correlation of -0.82, meaning the businesses that bring in the most also tend to retain the most.

Who Comes Out Ahead, and Who Falls Behind

At the top of the table, Wholesale and Distribution leads with about $77,000 in typical revenue against $20,300 in expenses, the widest margin of any industry measured. Healthcare, Construction, Engineering, and Insurance round out the leaders, each keeping roughly 45 cents or more of every dollar earned. The bottom of the table tells the opposite story. Apparel, Publishing, and E-Commerce all report median expenses well above median revenue, with the typical apparel business spending close to $4.00 for every $1.00 it brings in. The dividing line is largely inventory and production. Businesses that buy, hold, or manufacture physical goods carry costs whether or not the goods sell.

A Steady Floor or a Long Shot

The gap between typical and top earners follows the same pattern. In steady service fields such as Animal Services, top earners make about four times the typical operator. In Publishing, they clear roughly 144 times. Product industries produce a few large winners above a wide base of very small operators, while service and trade work offers a higher and more reliable floor.

“Earning well and keeping what you earn are two different things,” said Mike Savage, Founder and CEO of 1-800Accountant at 1-800Accountant. “For product-based businesses especially, expense discipline and accurate bookkeeping are often the difference between a profitable year and a paper loss. The operators who track expenses as closely as revenue are the ones who turn independent work into durable income.”

The full 1099 Earnings Report, including the complete industry table and methodology, is available on the 1-800Accountant blog.

About 1-800Accountant

1-800Accountant is America’s leading virtual accounting firm, combining technology with experienced professionals to make accounting accessible and affordable for small business owners, entrepreneurs, freelancers, and independent contractors. The firm provides year-round support that includes bookkeeping, tax preparation, tax advisory, payroll, and entity formation. 

Contact: Wyatt Johnson

Content Manager, 1-800Accountant

920-807-9159 | media@1800accountant.com

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SOURCE 1-800Accountant

ARLINGTON, Va., June 26, 2026 /PRNewswire/ — The AES Corporation (the “Company” or “AES”) (NYSE: AES) today announced that its stockholders voted to approve the Company’s previously announced acquisition by Global Infrastructure Partners (“GIP”), a part of BlackRock, and the EQT Infrastructure VI fund (“EQT”), along with co-underwriters California Public Employees’ Retirement System (“CalPERS”) and Qatar Investment Authority (“QIA”) (collectively “the Consortium”), at the Company’s Meeting of Stockholders held earlier today.

As previously announced, under the terms of the merger agreement the Consortium will acquire all outstanding common shares of AES for $15.00 per share in cash, representing a total equity value of approximately $10.7 billion and an enterprise value of approximately $33.4 billion, including the assumption of existing debt1.

“We are grateful for the strong support from our stockholders,” said Holly Koeppel, Lead Independent Director of AES’ Board of Directors. “Today’s vote reinforces our conviction that this transaction meaningfully enhances value while positioning AES for its next phase of growth. With the deep sector expertise of the Consortium, AES will have greater flexibility to invest in the critical energy solutions our customers and communities depend on. We look forward to working with the Consortium to complete the transaction, advance our shared mission, and create long-term value for all stakeholders.”

“Our team has built a differentiated platform spanning regulated utilities, clean energy solutions and critical energy infrastructure, creating a strong foundation for sustained growth,” said Andrés Gluski, Chairman and Chief Executive Officer of AES. “With today’s approval by stockholders, we are focused on executing the remaining steps towards completing the transaction and partnering with the Consortium to expand our capacity to deliver reliable, affordable and sustainable energy.”

Based on the preliminary vote count from today’s special meeting of stockholders, approximately 97.92% of AES stockholders votes were cast in favor of the proposed transaction, representing approximately 67.17% of all outstanding shares. The final voting results will be reported in a Form 8-K filed with the U.S. Securities and Exchange Commission.

The transaction is expected to close in late 2026 or early 2027, and remains subject to the receipt of applicable federal, state and foreign regulatory approvals and the satisfaction of other customary closing conditions.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we’re improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today.

About Global Infrastructure Partners (GIP), a Part of BlackRock

Global Infrastructure Partners (GIP), a part of BlackRock, is a leading infrastructure investor that specializes in investing in, owning and operating some of the largest and most complex assets across the energy, transport, digital infrastructure and water and waste management sectors.

GIP’s scaled platform has over $206 billion in assets under management. We believe that our focus on real infrastructure assets, combined with our deep proprietary origination network and comprehensive operational expertise, enables us to be responsible stewards of our clients’ capital and create positive economic impact for communities.

About EQT

EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2026, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

About CalPERS

CalPERS is the largest defined benefit public pension fund in the U.S., with a net position of $597.7 billion in its Public Employees’ Retirement Fund as of March 31, 2026. The portfolio invests in stocks, bonds, real estate, infrastructure, private equity, inflation-linked assets and other public and private investment vehicles, with a goal to generate total returns on a long-term basis while managing risk. Headquartered in Sacramento, California, CalPERS serves nearly 2.4 million members, providing retirement benefits to state, school, and public employees, along with health benefit services to 1.5 million members.

About QIA

QIA is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state reserve funds. QIA is among the largest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions as well as in partnership with leading institutions around the world to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results but instead constitute AES’ current expectations based on reasonable assumptions.  Estimates and projections regarding, among other things, the expected date of closing of the transaction and the potential benefits thereof, its business and industry, management’s beliefs and certain assumptions made by AES, all of which are subject to change.  Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our expectations regarding accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as the execution of PPAs, conversion of our backlog and growth investments at normalized investment levels, and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES’ filings with the Securities and Exchange Commission (the “SEC”), including, but not limited to, the risks discussed under Item 1A: “Risk Factors” and Item 7: “Management’s Discussion & Analysis” in AES’ 2025 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES’ filings to learn more about the risk factors associated with AES’ business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except where required by law.

Any Stockholder who desires a copy of the Company’s 2025 Annual Report on Form 10-K filed March 2, 2026 with the SEC may obtain a copy (excluding the exhibits thereto) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Annual Report on Form 10-K may be obtained by visiting the Company’s website at www.aes.com.

Contacts

AES Investor Contact:
Max Trask 571-217-3249, max.trask@aes.com

AES Media Contact:
Amy Ackerman 703-682-6399, amy.ackerman@aes.com

GIP Contact:
Mustafa Riffat, 917-747-4156, mustafa.riffat@blackrock.com

EQT Contact:
Mathilde Milch, 917-510-6626, mathilde.milch@eqtpartners.com

Press Release
Investor Contact: Max Trask 571-217-3249, max.trask@aes.com
Media Contact: Amy Ackerman 703-682-6399, amy.ackerman@aes.com

1Enterprise value based on proportional net debt of $22,724 million and a share count of 712 million, as of December 31, 2025. Consolidated net debt was $27,561 million as of December 31, 2025.

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SOURCE The AES Corporation