Utility Concierge | May 23, 2020
Utility Concierge®, the original concierge service for connecting home services, is thrilled to announce a collaboration with Lone Wolf Technologies ("Lone Wolf"). Utility Concierge will be featured in the Lone Wolf Marketplace, a library of curated digital tools for real estate agents and brokerages to plug and play into their national transaction management member benefit, zipForm® Plus, or their local/state member benefit, TransactionDesk. Marketplace puts the industry's most innovative tools like the Utility Concierge service, in the hands of real estate agents and brokerages to provide the first end-to-end transaction experience of its kind.
REAL ESTATE INVESTMENT
Harbor Group International, LLC | September 02, 2021
Affiliates of Harbor Group International, LLC, a privately owned international real estate investment and management firm, today announced a joint venture with Cammeby's International Group for the $1.05 billion acquisition of a portfolio of multifamily assets throughout New Jersey. The portfolio consists of 41 workforce housing communities, totaling 5,302 units.
HGI will invest approximately $46 million for capital improvements and enhancements across the properties. The firm will renovate 50% of the interior units and invest in operational improvements throughout the portfolio.
"As we continue to expand our investment platform, the acquisition of the Garden State portfolio represents the large-scale, attractive opportunities Harbor Group International identifies for our investors. This portfolio offers significant value-add potential and mark-to-market opportunity amid growing demand for housing outside of large urban cities," said Richard Litton, President, HGI. "We are pleased to have an experienced partner in Cammeby's as we embark on this venture, given their strong presence in the region."
The portfolio spans 14 cities in North, Central and South New Jersey, with a concentration in Union, Morris and Essex. A majority of the portfolio is located in key suburban markets near major New Jersey employers, including Prudential Financial, Johnson & Johnson, Bayer Corp. and Quest Diagnostics. The portfolio assets are also proximate to other key markets and employment hubs, including New York City and Philadelphia.
Harbor Group Management Company, HGI's property management arm, will assume the management of 10 assets within the portfolio.
Eastdil Secured brokered the transaction and advised on the debt alongside Meridian Capital Group. Lawrence H. Bryant at Williams Mullen served as counsel to HGI and Steven Fleissig at Greenberg Traurig served as counsel to the seller.
"On behalf of Meridian, it was again an honor and privilege to represent Harbor Group International and Cammeby's International Group in negotiating financing for this monumental acquisition. Working in direct coordination with Capital One and Freddie Mac allowed us to secure a combination of fixed- and floating-rate financing that provided optimal flexibility in the short-term while allowing them to achieve their long-term goals for the assets," said Abe Hirsch, Senior Managing Director at Meridian Capital Group.
About Harbor Group International
Harbor Group International, LLC, and its affiliates control an investment portfolio of $14.5 billion including 4.4 million square feet of commercial space throughout the United States and the United Kingdom and 53,000 apartment units in the United States. In addition to its corporate headquarters in Norfolk, Virginia, HGI maintains offices in New York, Baltimore, Los Angeles, and Tel Aviv.
HashCash Consultants | August 21, 2020
As real estate tokenization and trade gains momentum across the globe, HashCash has been intensifying its activities in the domain with new ventures. The leading blockchain and crypto development company is providing its white label real estate exchange software to a real estate firm based in UAE. It will help with the deployment of a new real estate exchange for the firm, allowing them to execute property tokenization and trade activities.