Austin-based Online Real Estate Brokerage REX Raises $40M More To Grow Its AI-driven Platform

REX Real Estate | November 20, 2019

Austin-based Online Real Estate Brokerage REX Raises $40M More To Grow Its AI-driven Platform
REX, an Austin-based licensed residential real estate brokerage using AI and big data, has raised another $40 million in what it describes as a “C1” round. The financing, an add-on from its $45 million Series C in January, brings the startup’s total raised since its inception in late 2015 to $115 million, according to Crunchbase data. A group of private investors including Sun Microsystems co-founder and former CEO Scott McNealy; Richard “Dick” Schulze, founder of Best Buy; Gordon Segal, founder of Crate and Barrel; Amit Singhal, former SVP of search at Google, among others, contributed to that round. It is not clear if they all participated in the “C1” round as well.

Spotlight

Resilience affects investment decisions, risk assessment, and value creation. Kathleen Carey, executive vice president and chief content officer of ULI, moderates a discussion between Lynn Thurber, chairman of ULI and chairman of LaSalle Investment Management, and conference cochairs Hamid Moghadam, CEO of Prologis, and Jonathan Rose, president of Jonathan Rose Companies LLC, about why resilience matters to the real estate industry.

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ERA Real Estate Declares Renewal of Four Firms With 101 Years Combined Affiliation Tenure

ERA | May 21, 2020

ERA King Real Estate Company and ERA Reardon Realty are both ranked in the brand's Top 20 Company Producers in Units with rankings of 11th and 20th, respectively. The firm, now with an expansive footprint spanning seven counties with eight offices and 300 affiliated agents, ranked in the 2020 REAL Trends Top 500 with 2,151 transaction sides in 2019. Since 2001, ERA King Real Estate has seen its annual transaction sides increase by more than 260% and volume by more than 450%. ERA® Real Estate, a global franchising leader within the Realogy family of companies, today announced that four long-time franchisees have signed long-term renewals with the brand. The renewing companies have a combined affiliation tenure of 101 years. ERA King Real Estate Company and ERA Reardon Realty are both ranked in the brand's Top 20 Company Producers in Units with rankings of 11th and 20th, respectively. All four renewals, which also include High Pointe Real Estate and ERA Advantage Realty, Inc., showcased substantial growth since their affiliation with the ERA brand. ERA King Real Estate Company was founded in 1969 by Jack King in Calhoun County, Ala, located in the east-central part of the state. His son Everett, joined by his wife and top agent Anna, later took over and affiliated with ERA in 1994. The ERA affiliation helped catapult ERA King Real Estate to the number one market share spot in the county. The firm, now with an expansive footprint spanning seven counties with eight offices and 300 affiliated agents, ranked in the 2020 REAL Trends Top 500 with 2,151 transaction sides in 2019. This equated to $419.2 million in sales volume. Since 2001, ERA King Real Estate has seen its annual transaction sides increase by more than 260% and volume by more than 450%. The Kings, who have helped shape the culture of the ERA brand through their passion and dedication, were recent unanimous inductees into ERA Real Estate's Hall of Fame. Along with the late ERA Real Estate President and CEO Brenda Casserly, the Kings are continuing and reinforcing the "Team ERA" battle cry that is emblematic of the brand's unique culture. Read More: How COVID-19 Is Changing The Real Estate Industry ERA Real Estate is built on the foundation of creating an infrastructure that empowers affiliated companies to exceed their growth and profitability goals. The brand has a storied history of cultivating a strong, collaborative culture rooted in innovation that helps our affiliates grow their businesses. The recent renewals of four ERA's long-tenured brokerages are representative of the strength of the ERA network as well as the tangible value the ERA brand affiliation can deliver to companies over the years – and decades, Sherry Chris, President and CEO of ERA Real Estate. ERA Reardon Realty, under the leadership of broker/owner Rick Reardon, has been affiliated with ERA since 2000. As a top 20 company in the global network, ERA Reardon is the largest ERA affiliate in Michigan with more than 100 agents in seven offices across the state. The company generated 1,227 transaction sides in 2019 and $230 million in sales volume. The company has grown in sides and volume by more than 1050% and 2200%, respectively, since 2001. Reardon is a second-generation owner having taken over Gail Reardon Realty, which was founded in 1987 by his parents. His firm is recognized for its superior client service, agent-centric culture and commitment to supporting ERA's collaborative network. ERA Reardon Realty's growth has also been fueled by the company's merger and acquisition strategy in collaboration with ERA. The most recent acquisition came in January when Reardon took an ownership stake in Midwest Properties ERA Powered in the Grand Rapids region, adding nearly 85 new agents and four new offices. ERA is woven into the fabric of our company, and we would not want to be anywhere else. Through our 25 years with the ERA brand, we've successfully achieved the true value of a franchised partnership. Not only have we grown because of the guidance, resources and support we continually receive from ERA, but also from the incredible collaboration that exists. We firmly believe that the ERA network gives us a competitive advantage that is second to none, Everett King, President at ERA King Real Estate Company, Inc. ERA High Pointe Real Estate based in Manhattan, Kansas, was founded in 1982 and joined the ERA brand in 1993. Led by broker/owners Ricci Dillon and Andy Carson, the company finished 2019 in the top 25 of the most productive single-office ERA brokerages with 294 transaction sides equaling $64 million in sales volume, a 100% increase annually since 2001. Known for its strong community presence and proactive approach to real estate, ERA High Pointe values the entrepreneurial spirit of the ERA network and the brand's forward-thinking business solutions. ERA Advantage Realty, Inc., which serves the Port Charlotte, Fla. market led by broker/owner Joel Ament, first joined the ERA brand in 1992. Since then, the company has ranked consistently as a Top 100 company within the ERA network and finished 2019 with $30 million in sales volume, a 66% increase since 2001. The company's slogan, "Always There for You," showcases the company's commitment to creating the best experience possible for homeowners and a dedication to providing its agents with the ERA tools and training they need to succeed. Read More: Brennan Investment Group Launches Corporate Real Estate Initiative under CRES Brand About ERA Real Estate At ERA Real Estate, we don't adapt to change, we create it. We believe that our core business values of collaboration, innovation, diversity and growth are needed now more than ever. As a global leader in the residential real estate industry for more than 40 years, ERA was the first real estate franchise to expand internationally, the first to post listings online, and is the only national company that offers the Sellers Security® Plan (SSP) program. The ERA SPP program allows affiliated agents to give sellers of qualified homes the peace of mind that their home will sell, and for what price.

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REAL ESTATE INVESTMENT

JLL Income Property Trust Acquires Suburban Chicago Distribution Center

JLL Income Property Trust | January 14, 2022

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $5.9 billion in portfolio assets, today announced the acquisition of Elgin Distribution Center, a Class A, two-building industrial property totaling 407,000 square feet and located in the northwest Chicago suburb of Elgin, Illinois. The purchase price was approximately $47 million. The Elgin Distribution Center fits squarely within our industrial investment thesis as a well-located, newly constructed property with strong tenant profiles, The Elgin warehouse submarket stands out for its access to a robust labor pool and close proximity to Chicago, along with O'Hare International Airport, which we believe will drive long-term value for these properties. Industrial remains an overweight target for our portfolio given our belief that it will provide strong, long-term cashflow to our diverse portfolio. Our aggregate industrial allocation is now over $1.7 billion, or approximately 30 percent of our $5.9 billion portfolio, and includes 54 properties across 13 key markets." Allan Swaringen, JLL Income Property Trust President and CEO. Recently constructed in 2020, the properties are built to state-of-the-art design specifications. The larger building, which totals over 326,000 square feet, is cross-docked with 33-foot clear heights. The smaller building, which totals more than 80,000 square feet is rear docked and has 29-foot clear heights and includes a front-office. The properties are 100 percent leased with a weighted average lease term of approximately 10 years. According to LaSalle Research & Strategy, the Chicago metro is the country's second largest industrial market, with 1.2 billion square feet of industrial space. Chicago's central location, proximity to irreplaceable transportation infrastructure and access to a large population make it a critical hub for national distributors. Over the four quarters ending in Q1 2021, Chicago's industrial market experienced 18.5 million square feet of net absorption and a steady decline in vacancy rates. Chicago also has the highest going-in yields of any gateway industrial market in the U.S. The Elgin Distribution center also benefits from access to a growing population and large labor pool, as well as excellent access to major transportation nodes including Interstate 90, Route 31, Randall Road and Route 47. JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world's leading real estate services firms. About Jones Lang LaSalle Income Property Trust, Inc. Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, grocery-anchored retail, healthcare and office properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. About LaSalle Investment Management LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages over $76 billion of assets in private and public real estate property and debt investments as of Q3 2021. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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BisRing Relaunches new and improved Interactive Online Platform to better reflect its Real Estate business

BisRing Inc. | July 17, 2020

BisRing Inc.,The Ultimate Real Estate Network, is pleased to announce the relaunch of its online platform with an elevated design to better reflect the business. The company made user experience the top priority and featured new content in its website relaunch. The new sleek, intuitive interface allows users to navigate and easily search for the expansive directory of real estate related services and products they are interested in. A big part of the inspiration behind the relaunch is adding features that highly benefit this real estate online platforms users. This newly redesigned and improved portal allows real estate investors, service providers and various businesses to share their wealth of knowledge by writing BisBlogs at absolutely no cost. BisRing is the first in its industry to openly allow its members to write blogs and post them on BisRing website. This new addition by BisRing demonstrates the company’s transparency compared to other similar platforms that control their blog content by only allowing their own writers contribute to their blogs. At bisring.com this content is based on real life experience that is highly beneficial for the investors and home owners, and provides valuable tips and tricks.

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Spotlight

Resilience affects investment decisions, risk assessment, and value creation. Kathleen Carey, executive vice president and chief content officer of ULI, moderates a discussion between Lynn Thurber, chairman of ULI and chairman of LaSalle Investment Management, and conference cochairs Hamid Moghadam, CEO of Prologis, and Jonathan Rose, president of Jonathan Rose Companies LLC, about why resilience matters to the real estate industry.