Agents and landlords in England urged to be ready for upcoming tenant fees ban

Association of Residential Letting Agents | May 14, 2019

With just over two weeks until the letting fees ban comes into place in England landlords and agents are being urged to be ready. Agents need to ensure that they are compliant with the new law and the Association of Residential Letting Agents (ARLA) has a Tenant Fees Toolkit providing practical tools and materials to support members through every step of the transition and beyond. David Cox, ARLA chief executive, explained that there are answers to more than 70 Frequently Asked Questions to the Toolkit and ARLA has a series of upcoming roadshows which will update on the legislation and provide key insights on how businesses can thrive after the ban.

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Regus is the world’s largest provider of flexible workplaces. Over a million customers a day benefit from our locations spread across almost 100 countries. With our ever expanding range of innovative products and services we enable people to work their way whether it’s from home

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Regus is the world’s largest provider of flexible workplaces. Over a million customers a day benefit from our locations spread across almost 100 countries. With our ever expanding range of innovative products and services we enable people to work their way whether it’s from home

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REAL ESTATE INVESTMENT

Gray Capital Purchases 122-Unit Apartment Property, the First Acquisition of 100M Multifamily Fund

Gray Capital | June 06, 2022

Multifamily investment firm Gray Capital has closed on Stonybrook Commons, a 122-unit apartment community located on Indianapolis's East side, built in 1991. Gray Capital's plans for the property include interior renovations with updated flooring and appliances as well as other modernizations and efficiency improvements. Additionally, $500k has been aimed at improving the exterior of Stonybrook and increasing curb appeal. Renovations include replacing several roofs, replacing gutters, improving drainage, replacing and painting shutters, and asphalt improvements. The business plan also includes revitalizing existing outdoor amenities and taking advantage of a large green space on the property with the addition of a soccer field for residents. Indianapolis, IN is seeing a substantial amount of job growth, particularly in the sub-market where Stonybrook is located, and Stonybrook Commons will be ideally situated to meet the growing housing demand in the area." Spencer Gray,Gray Capital CEO and President George Tikijian, Hannah Ott, and Cameron Benz of the Indianapolis Cushman & Wakefield were the selling brokers in the transaction. Stonybrook Commons is the first property within Gray Capital's $100 million multifamily investment fund, The Gray Fund, and Gray Capital plans to continue this momentum with additional acquisitions in the near future. The purchase of Stonybrook Commons follows the 2021 acquisition of Suncrest Apartments and adds to Gray Capital's $500+ million in assets under management and more than $1 billion in commercial real estate projects to date since its founding in 2015.

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BROKERAGE,HOME AND DESIGN

HUB International Partners with RESAAS to Simplify the Home Insurance Process

HUB International and RESAAS | August 03, 2022

Hub International Limited (HUB), a leading global insurance brokerage and financial services firm, today announced its partnership with RESAAS Services Inc., a technology platform for the real estate industry, for clients of RESAAS agents to access VIU by HUB, a digital brokerage platform for transactional personal insurance created for customers who want a digital-first experience with human interaction and advice. HUB launched VIU by HUB in June 2022 and is quickly gaining interest and adoption by partners like RESAAS, which reflects a growing number of relationships in the real estate industry, financial services, and auto dealer sector. "VIU by HUB is a game changer, and our exclusive partnership with RESAAS and its network of 500,000 real estate agents is the type of relationship we had in mind when we first launched our innovative digital-first brokerage platform, VIU by HUB allows RESAAS agents across the U.S. to tap into the expertise and insurance relationships HUB has cultivated and offer their clients a streamlined digital experience to purchasing insurance -- adding value to RESAAS's already stellar real estate services." -Bryan Davis, EVP, Head of VIU With the ever-changing consumer landscape demanding choice, VIU by HUB meets customers where they are and gives them the freedom to secure insurance how they want. Tom Rossiter, CEO of RESAAS added, RESAAS continues to expand our offering beyond the real estate transaction to deliver value for our real estate professionals before, during and after a home purchase. When reviewing the insurance landscape, VIU by HUB's personalized approach offers the right experience for the 500,000 RESAAS agents and their clients. RESAAS is proud to partner with VIU by HUB as our exclusive insurance partner within the global RESAAS platform. Under the terms of the agreement, HUB has joined RESAAS's Ancillary Services division that enables RESAAS agents to generate additional, non-transactional recurring revenue by introducing their clients to select, nationwide and best-in-class partnerships endorsed by RESAAS. HUB and RESAAS will share in the commissions generated by sales from this partnership. About Hub International Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 14,000 employees in offices located throughout North America, HUB's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. For more information, please visit www.hubinternational.com. About RESAAS Services Inc. Headquartered in Vancouver, Canada, RESAAS (TSX-V: RSS,OTCQB: RSASF) is an award-winning global technology platform for the real estate industry. With over 500,000 real estate agents utilizing RESAAS in 160 countries, RESAAS enables real-time industry communication, delivers new business opportunities and captures unique real estate data. Some of real estate's biggest brands leverage RESAAS to provide business intelligence to real estate brokerages, franchises and associations. For more information, please visit https://www.resaas.com.

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REAL ESTATE INVESTMENT

Blackstone Real Estate Income Trust Completes $5.8 Billion Acquisition of Preferred Apartment Communities, Inc.

Blackstone Real Estate Income Trust | June 24, 2022

Blackstone and Preferred Apartments Communities, Inc. announced that Blackstone Real Estate Income Trust, Inc. has completed its previously announced acquisition of PAC for $25.00 per share of common stock, without interest, in an all-cash transaction valued at approximately $5.8 billion. The holders of each series of PAC’s preferred stock will receive the $1,000 per share liquidation preference for each share of preferred stock plus accrued but unpaid dividends thereon, without interest. As a result of the transaction, PAC’s common stock will no longer be listed on any public market. Joel T. Murphy, PAC’s Chairman and Chief Executive Officer, said, “Today’s closing of BREIT’s acquisition of PAC marks the beginning of an exciting new chapter for PAC. This outcome, with over 99% of voting stockholders supporting the acquisition, reinforces the merits of this transaction and the value of the hard work our team has done leading up to and throughout this process. I would like to thank the Blackstone team for being so collaborative as we worked together to achieve this result. We look forward to the next phase for PAC.” We are pleased to complete this acquisition on behalf of our BREIT investors and welcome the talented PAC team to Blackstone. Inclusive of this transaction, approximately half of BREIT’s portfolio comprises residential properties largely located in the West and South regions of the U.S., which are seeing robust demand and stable occupancy. PAC’s portfolio of high-quality multifamily in key SunBelt markets and grocery anchored retail centers is a complementary addition to BREIT’s portfolio of stabilized, income-generating assets, and we look forward to being long-term owners of these properties.” Jacob Werner, Co-Head of Americas Acquisitions for Blackstone Real Estate Jones Lang LaSalle Limited, BofA Securities, Lazard Frères & Co. LLC and Wells Fargo Securities LLC served as BREIT’s financial advisors, and Simpson Thacher & Bartlett LLP acted as BREIT’s legal counsel. Goldman Sachs & Co. LLC served as PAC’s lead financial advisor. KeyBanc Capital Markets, Inc. and JonesTrading Institutional Services, LLC. also served as financial advisors to PAC. King & Spalding LLP and Vinson & Elkins LLP served as the Company’s legal counsel. The transaction was announced on February 16, 2022. About Preferred Apartment Communities, Inc. Preferred Apartment Communities, Inc. is a real estate investment trust engaged primarily in the ownership and operation of Class A multifamily properties, with select investments in grocery-anchored shopping centers. Preferred Apartment Communities’ investment objective is to generate attractive, stable returns for stockholders by investing in income-producing properties and acquiring or originating real estate loans. As of March 31, 2022, the Company owned or was invested in 113 properties in 13 states, predominantly in the Southeast region of the United States. About Blackstone Real Estate Income Trust, Inc. Blackstone Real Estate Income Trust, Inc. is a perpetual-life, institutional quality real estate investment platform that brings private real estate to income focused investors. BREIT invests primarily in stabilized, income-generating U.S. commercial real estate across key property types and to a lesser extent in real estate debt investments. BREIT is externally managed by a subsidiary of Blackstone, a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has approximately $298 billion in investor capital under management.

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