Anycurb Continues to Leverage Data to Improve the Homeownership Experience and Increase Your Home's Value

AnyCurb | August 10, 2020

AnyCurb will begin offering the ecobee SmartThermostat with voice control for free to homebuyers with the purchase of a home with an AnyCurb real estate agent. The Data-Driven Real Estate Brokerage, which seeks to increase housing supply by making off-market homes attainable for homebuyers, announced the incentive program earlier this week. The goals of this program are to promote sustainability, increase homebuyer savings, and incorporate the benefits of data into households. According to ecobee: "Heating and cooling costs account for between 40% and 50% of a typical home's overall energy costs, and an ecobee smart thermostat can save a homeowner an average of 23% on those costs."

Spotlight

Our CEO Jason Kothari speaks to Abha Bakaya of Bloomberg TV India about restructured operations, working on building blocks, and already being on track for $10MN revenue in less than a year. He explains how we’re preparing Housing.com to take full advantage of the pickup in India’s real estate market.

Spotlight

Our CEO Jason Kothari speaks to Abha Bakaya of Bloomberg TV India about restructured operations, working on building blocks, and already being on track for $10MN revenue in less than a year. He explains how we’re preparing Housing.com to take full advantage of the pickup in India’s real estate market.

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Placer.ai Launches Void Analysis Tool to Rapidly Identify the Ideal Tenants for Any Retail Space

Placer.ai | November 12, 2021

Placer.ai, the leader in location analytics and foot traffic data, released its Void Analysis tool today. Void Analysis is an easy-to-use interactive tool that empowers shopping center owners or leasing representatives to find the ideal tenants for any retail space. Prospective tenants are ranked and ordered based on a variety of factors, and a list of tenants is then automatically produced, quickly identifying the ideal candidates and candidate types for any vacant retail space. "The retail real estate market is experiencing an unprecedented moment of change and the role of data in guiding decision-making is only increasing. Placer's Void Analysis tool enables CRE professionals to rapidly identify the ideal fit for any retail space based on a variety of critical factors. With this information, ideal candidates can be quickly identified and the pitch strengthened with objective, reliable location analytics. The result is a unique opportunity to help CRE professionals make better decisions, and faster than ever before." - Placer.ai Co-Founder and CEO Noam Ben-Zvi. Void Analysis consists of two main elements: Analyze top tenants Top potential tenants for any shopping center vacancy based can be identified based on their Relative Fit Score (RFS). The Relative Fit Score is based on several parameters including demographic fit score (DFS), cannibalization rate, average monthly foot traffic, and co-tenancy fit. Learn more about potential tenants Dive deep into the match between your shopping center and a prospective tenant, including the breakdown of which factors suggest strong potential success. Gain a detailed look at key metrics like household income, gender, age, frequent co-tenants, and other parameters to help sharpen the focus and customize the search to account for more variables. Void Analysis is currently available to all Placer.ai subscribers. About Placer.ai: Silicon Valley-based Placer.ai is the most advanced foot traffic analytics platform, allowing anyone with a stake in the physical world to instantly generate insights into any property for a deeper understanding of the factors that drive success. Placer.ai is the first platform that fully empowers professionals in retail, commercial real estate, hospitality, economic development, and more to truly understand and maximize their offline activities.

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REAL ESTATE INVESTMENT

JLL arranges $690M financing for 44-property industrial portfolio

JLL | December 02, 2021

JLL announced today that its Capital Markets group has arranged a $690 million financing for a portfolio of 44 net-leased industrial, office and data center properties totaling 6.85 million square feet in high-growth markets across the United States. JLL worked on behalf of the borrower, Blackstone Real Estate Income Trust (BREIT), to place the two-year, floating-rate, non-recourse loan with Wells Fargo Bank. The financing comprises a term loan and a revolving credit facility. Additionally, the New York Agency of Singapore-based United Overseas Bank (UOB) joined the financing, committing half of the arranged capital post-closing. The portfolio consists of single- and multi-tenant mission-critical assets with diverse functions that include warehouse, bulk warehouse, light industrial, office, laboratory, truck terminal, data center and raw land. With an average age of 17 years, the properties feature an average clear height of 28 feet, 87 suites and 1,148 dock doors. It is more than 80% leased to industry-leading tenants with a proven history of significant tenant investment and that represent a diverse range of industries, including e-commerce, web services, pharmaceuticals and logistics. Situated on a total of nearly 611 acres, the portfolio properties are in 10 states in high-growth, highly connected markets such as Raleigh-Durham and Greensboro, North Carolina; Boston, Massachusetts; El Paso, Texas; Atlanta, Georgia; Chicago, Illinois; Salt Lake City, Utah; and Minneapolis, Minnesota. JLL's Capital Markets debt advisory team representing the borrower was led by Executive Managing Director Trey Morsbach, Managing Director Michael Cosby and Analysts Bo Beidleman and Ryan Pollack. JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries. About JLL JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

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REAL ESTATE INVESTMENT

CIM Real Estate Finance Trust, Inc. Announces Merger Agreement with CIM Income NAV, Inc.

CIM Group | September 23, 2021

CIM Real Estate Finance Trust, Inc. announced it has entered into a definitive merger agreement to acquire CIM Income NAV, Inc. in a stock-for-stock, tax-free merger transaction. CMFT and INAV are non-traded REITs managed by affiliates of CIM Group, LLC (“CIM”). The pro forma combined company would have approximately $6.0 billion in total enterprise value, creating a leading commercial credit-focused real estate investment trust (REIT) with greater tenant, industry, and asset type diversity, financial strength, and improved access to capital markets. This transaction is expected to close in the fourth quarter of 2021, subject to certain closing conditions, including INAV stockholder approval. The merger agreement was negotiated on behalf of CMFT and INAV by their special committees composed exclusively of disinterested independent directors. Each special committee recommended approval of the merger agreement to its respective Board of Directors. Each respective Board of Directors subsequently unanimously approved the entry by its REIT into the merger agreement. We believe combining INAV and CMFT will benefit stockholders of both companies by creating a larger, more diversified and valuable company, positioning the company for a public market listing. - Richard Ressler, Principal and Co-Founder of CIM Group. Potential Strategic Benefits The merger is expected to produce meaningful benefits for stockholders of CMFT and INAV, including: Greater Scale & Relevance: With $6.0 billion and $3.2 billion1 in enterprise value and equity value, respectively, CC CMFT will be one of the largest credit-focused REITs, increasing its relevance in the capital markets and reducing its cost of debt and equity capital. Diversification: CC CMFT's combined 590 property, 23.8-million-square-foot real estate portfolio will have greater tenant, industry and asset type diversity, providing CC CMFT with greater flexibility to opportunistically pursue growth strategies and recycle non-core assets. CC CMFT’s top five tenant concentration decreases from 22% at both CMFT and INAV to 19%, with no single tenant concentration above 5%. Path to Liquidity: The merger transaction is one more step in the execution of CMFT’s business plan and is anticipated to better position CC CMFT for a public market listing, which, subject to market conditions, is expected to occur in 2022.2 Cost Savings: CC CMFT is expected to realize $2.8 million of annualized general and administrative synergies on a run-rate basis with additional cash flow improvement of $2.5 million to INAV stockholders through the elimination of ongoing stockholder servicing fees. Transaction Terms Subject to the terms and conditions of the merger agreement, INAV stockholders would receive an approximate 10.6% premium3 for each share of INAV common stock based upon the receipt of the following consideration: Class D: 2.574 shares of CMFT common stock, which is valued at approximately $18.53 per share Class T: 2.510 shares of CMFT common stock, which is valued at approximately $18.07 per share Class S: 2.508 shares of CMFT common stock, which is valued at approximately $18.06 per share Class I: 2.622 shares of CMFT common stock, which is valued at approximately $18.88 per share Additionally, CMFT intends to increase its distribution rate, subject to approval by the CMFT Board of Directors, so that INAV stockholders will receive aggregate per annum distributions in an amount equal to or greater than INAV’s current annualized distributions after the closing of the proposed merger. Advisors RBC Capital Markets, LLC is acting as financial advisor to the Special Committee of the Board of Directors of CMFT, and Sullivan & Cromwell LLP and Venable LLP are acting as legal advisors to the Special Committee of the Board of Directors of CMFT. Morris, Manning & Martin, LLP is acting as REIT and securities counsel in connection with the transaction. The Special Committee of the Board of Directors of INAV has engaged Jones Lang LaSalle Securities, LLC, an affiliate of Jones Lang LaSalle America, Inc. as their financial advisor, and Nelson Mullins Riley & Scarborough LLP as their legal advisor. About CIM Real Estate Finance Trust, Inc. CMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. CMFT is managed by affiliates of CIM. About CIM Income NAV, Inc. INAV is a public, non-traded corporation that has elected to be taxed and currently qualifies as a REIT. INAV holds investments in office, industrial and retail assets. INAV is managed by affiliates of CIM. About CIM Group CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests.

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