REAL ESTATE INVESTMENT
DJE Texas Management Group | June 14, 2022
DJE Texas Management Group (DJE), a vertically integrated real estate investment and management company based in San Antonio, has closed on The DJE North Portfolio.
The North Portfolio contains 600 apartment units throughout three apartment communities in North Central San Antonio. The properties are located at
12221 Blanco Road
7302 University Row
8631 Fairhaven Street
The three properties are conveniently located within 15 minutes of each other and are situated ideally amongst DJE's other multifamily properties in the same submarket. DJE Properties, will manage the asset and execute a $5.2M value add business plan that includes a rebrand, property renovations, and operational improvements. Renovations will include the addition of washer/dryer units, amenity upgrades in all units, exterior community building and swimming pool upgrades.
This multi-property renovation project will not only enhance the communities in which they are located, but it will also help to meet the city's growing need for quality housing."
Devin Elder, Founder, and CEO of DJE Texas Management Group
The majority of property improvements are expected to be completed by the end of 2023. To date, the organization has invested in over 5,000 apartment units across 17 multifamily real estate assets. and continues to expand its portfolio. DJE Texas Management Group holds firm to its core values and strives to create passive investment strategies where everyone involved wins.
About Devin Elder and DJE Texas Management Group
Devin Elder is Founder & CEO of DJE Texas Management Group, a vertically integrated multifamily investment firm based in San Antonio, Texas. Since 2012, the firm has completed hundreds of successful investment projects including many full-cycle multifamily investments. Devin has led his team in the renovation projects that have improved over 5,000 multifamily units. He is a helicopter pilot, a podcast host, and the owner of a real estate consulting firm, and he spearheads the DJE Foundation supporting disadvantaged children in Texas and the Philippines.
MRI Software | August 08, 2022
MRI Software, a global leader in real estate software, has acquired ApartmentData.com, further expanding its MRI Living™ suite of property management solutions for the multifamily market. ApartmentData.com is a Houston-based provider of market research and data solutions that enable multifamily property owners and managers to increase property values by optimizing pricing and occupancy.
Founded in 1986, the company provides comprehensive and accurate information on professionally managed properties with more than 50 units, including pricing, concessions, occupancy, amenities, and policies at the floor plan level. The company serves 12 of the fastest-growing metropolitan statistical areas ("MSAs") in the U.S.: Houston, Dallas/Fort Worth, Austin, San Antonio, Atlanta, Phoenix/Tucson, Nashville, Raleigh/Durham, Charlotte, Orlando, Tampa, and Jacksonville. ApartmentData.com supplements its digital collection techniques with direct calling and client communications, helping ensure the highest levels of data accuracy and detail.
ApartmentData.com's flagship solution, Competition RADAR™, leverages proprietary algorithms to identify and alert users to relevant competitive trends, provide pricing recommendations, and calculate property- or portfolio-level impact.
"Over the last several years, we've significantly expanded our MRI Living portfolio to provide tools that make our clients' lives easier and help them take better care of their residents, businesses, and themselves, Data is critical to helping us deliver on those objectives. With a 'smart data' solution like Competition RADAR, we can provide clients with actionable data and market insights, so they can navigate the future with confidence and gain a competitive advantage."
-John Ensign, MRI's president and executive managing director, North America
In addition to deepening MRI's footprint in the southern U.S., the acquisition enhances the company's MRI Living suite, an already extensive portfolio of multifamily solutions that empower property owners and operators with AI-first tools to easily manage every part of the residential lifecycle, from lead to lease to renewal.
We're thrilled to join the MRI family, Thanks to this acquisition, both our and MRI's clients will be able to take advantage of new and expanded capabilities, which will help them manage real estate portfolios more effectively and profitably. They won't have to wade through specialty providers who require customers to perform their own analysis. Instead, our clients will enjoy access to the combined resources of two well-established players,says Rudy Mui, chief executive officer of ApartmentData.com.
John Severance, founder and chief technology officer of ApartmentData.com, looks forward to what he describes as "the next chapter." He states: By leveraging the resources of MRI, we can more easily address the growing demand for insights at a time when most multifamily organizations need to drive occupancy and maximize revenue.
Today, MRI serves more than 82% of companies on the National Multifamily Housing Council's (NMHC) list of top 50 U.S. apartment managers. Additionally, MRI solutions support more than 20 million residential units worldwide.
MRI will continue to serve ApartmentData.com clients without interruption. Silvermark Partners served as the exclusive advisor to Apartment Data.com.
About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI's open and connected, AI-first platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through innovative solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to realize their vision of building thriving communities and stronger businesses.
REAL ESTATE INVESTMENT
Accel Real Estate Commission Advance | July 22, 2022
Real estate agents and brokers anywhere in the United States can now access financing on their pending real estate commissions through Accel Real Estate Commission Advance ("Accel"). Accel was created by Balanced Bridge Funding to help service real estate professionals around the country. "As a company familiar with assisting entities and individuals with guaranteed income but facing payment delays, being able to provide real estate commission advances is a natural step for us to help real estate agents and brokers who are interested in financing" says Joseph Genovesi.
Traditionally springtime is when the real estate industry starts to pick up. Schools are coming to a close and families begin to scout locations to move their families. Families or individuals with houses look to sell their properties for similar reasons. Real estate professionals have to be ready for the wave of interested buyers and sellers during the spring season and prepare for them.
Currently, the real estate market is on fire throughout the country. Low interest rates, the negative effect of Covid on the supply chain for developers and home builders, all cash offers have fueled the market raising the prices on the current stock of homes. A hot real estate market means the competition is fierce among real estate agents and brokers. They are competing for listings in their markets and they may need to have the financial backing or have access to financing to try and dominate their area. Some news outlets published stories about the constant activity of the Delaware real estate market in 2021. Last month, the Philadelphia Inquirer published a story about the lack of supply in the housing market and how that has affected housing sales. The Federal Reserve indicated they will raise interest rates which may help cool the real estate market.
According to the recent Pennsylvania Association of Realtors (PAR) report, general housing sales have decreased but the median home price has increased. In addition, the past few reports showed sales of houses priced between $250,000 to $2 million and more have increased from the previous year. The Delaware Association of Realtors (DAR) report for February 2022 showed similar statistics. The number of units sold dropped by 66%, but the average and median priced homes increased by 12% and 13%, respectively. Listings have increased and the average amount of time a home is on the market also increased. Inventory dropped over 10%.
Accel's real estate commission advance allows agents and brokers to access a portion of their pending fees. They can use these funds to increase spending on marketing their properties; get more listings, hire more agents; expand their offices for the spring and summer selling season. They can also use it for a variety of personal or professional purposes. Accel is also creating an exclusive membership program for qualified real estate agents and brokers.
This program will allow them to provide member agents and brokers with the unique opportunity to quickly and conveniently increase their cash flow and grow their real estate businesses. Members will enjoy exclusive benefits for funding including:
Priority processing of applications
45 Day Grace Period
10% Fee on advances 31+ days or more
Paid referrals for new colleagues that work with Accel Real Estate Commission Advance
No broker signature required to fund advances