Average rent in Scotland up 1.7% and yields among the highest in the UK

Your Move | May 24, 2019

The average rent in Scotland increased by 1.7% in the 12 months to April 2019 to £581 per calendar month, led by growth of 3.6% in the Highlands and Islands, the latest index report shows. Overall rents rose in three of the five regions surveyed by the Your Move rental tracker index With Highlands and Islands up to £688. But despite that growth, the area was unable to take the title of most expensive place to rent in Scotland. The most expensive rents are in Edinburgh and the Lothians region, up 3.1% to an average of £693 per calendar month. The other area which posted an annual price rise was the East of Scotland, up 2.1% to £542.

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Property for sale - 3140 Sheridan Boulevard, Denver, CO 8021.

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Property for sale - 3140 Sheridan Boulevard, Denver, CO 8021.

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REAL ESTATE INVESTMENT

Greater San Diego Association of REALTORS® Announces More Than $1 Million in Grant Funds to Defend Coastal Communities and Property Rights

Greater San Diego Association of REALTORS® | December 09, 2021

The Greater San Diego Association of REALTORS® (SDAR) announces an additional grant support for Smart Coast California, a 501(c)(6) organization founded by REALTORS® in response to sea level rise policies impacting coastal communities and property owners. The most recent grant in the amount of $495,000 was approved by the National Association of REALTOR® (NAR) on December 2, bringing the total grant awards this year to $1.07 million. SDAR President Carla Farley also serves as the 2021 President of Smart Coast California. The organization was founded in 2019 to monitor coastal policies and be a strong voice advocating for the protection of communities and the property rights of homeowners. Smart Coast California membership includes 29 local REALTOR® associations along California's 1,100-mile coastline. "The Greater San Diego Association of REALTORS® is not only the voice for real estate professionals, but also for property owners throughout San Diego County.We helped to form Smart Coast California to ensure a strong, unified voice was in place up and down California's coastline in defense of property rights and of our coastal communities." -Farley Previous grant funds totaling $300,000 were approved on October 5 by the California Association of REALTORS® (C.A.R.) IMPAC Trustees. The organization was earlier awarded $212,000 in August by NAR. The funds will be used to enhance monitoring capabilities, expand advocacy initiatives, and grow the organization. "Few individuals are aware of some of the controversial policies being advanced by the California Coastal Commission, including managed retreat, which would require the removal of needed protective devices, such as sea walls," explained Farley. "These policies are an affront to property rights and would prevent our coastal communities and property owners from defending their homes and neighborhoods from rising seas," she continued. "Through Smart Coast California, we monitor and respond to the actions of the California Coastal Commission and advocate for balanced coastal management policies that will protect the unique character of our coastal communities and the property rights of the individuals who call these areas home." At issue, the California Coastal Commission (CCC) is working with California's coastal cities and counties to update their Local Coastal Programs (LCPs) to account for sea level rise. Among the more controversial policies the CCC is recommending is "managed retreat," a coastal management policy that calls for relocation or removal of coastal structures, including homes, inland away from rising tides. This issue led to a decision on June 7 by the Del Mar City Council to withdraw their proposed update to their LCP, refusing to accept the CCC's recommended policies. Del Mar is now one of several cities who have withdrawn their proposal from consideration by the CCC.om "We've been tremendously active up and down the coast over the past 18 months, including weighing in on 16 local coastal plans as well as several related California Coastal Commission actions and state legislative proposals,The support we've received from our state and national associations, in conjunction with the funds from our coalition of local REALTOR® associations throughout the state, is instrumental to the success we've enjoyed this year and expect to continue in the years ahead." -Farley

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REAL ESTATE TECHNOLOGY

ImmoScout24 Partners with Branch to Power Mobile Growth via Web to App Journeys

ImmoScout24 | September 30, 2021

Branch the leading cross-platform solution for deep linking and attribution, has announced their continued relationship with ImmoScout24, the leading online marketplace for real estate in Germany and Austria. Branch will provide its web-to-app Journeys product to drive users from the mobile web to ImmoScout24's app, while also maintaining the context of users' mobile web points of origin. We are beyond excited to see what this next phase of our relationship brings, which will see ImmoScout24 continue to leverage Branch's web-to-app Journeys banners. We are investing heavily in the DACH region to expand our footprint and we are thrilled to have a client like ImmoScout24 using our Journeys product in so many creative ways - David Brown, Director of Customer Success, EMEA at Branch. Ensuring an engaging customer experience across channels and platforms can be difficult across a fragmented mobile ecosystem and important consumer data often gets lost in the process. Branch will help ImmoScout24 use their mobile website as a personalized app acquisition channel. Branch is a valuable partner when it comes to the growth and engagement of our mobile app user base and we are happy to continue our cooperation. - Patrick Gerstenecker, Director of Product Management at ImmoScout24. About ImmoScout24 ImmoScout24 is the leading online platform for residential and commercial real estate in Germany. For over 20 years, ImmoScout24 has been revolutionising the real estate market and supports over 20 million users each month on its online marketplace or in its app to find a new home or commercial space. That's why 99 percent of our target customer group knows ImmoScout24. With its digital solutions, the online marketplace coordinates and brings owners, realtors, tenants and buyers successfully together. ImmoScout24 is working towards the goal of digitising the process of real estate transactions and thereby making complex decisions easy. Since 2012, ImmoScout24 has also been active in the Austrian real estate market, reaching around 3 million users monthly. About Branch Branch provides the leading cross-platform linking and attribution platform, offering solutions that unify user experience and measurement across devices and channels. Branch powers mobile links and cross-platform measurement to more than 3 billion monthly users across the globe, and has been selected by over 75,000 apps since 2014 including Adobe, BuzzFeed, Yelp, and many more.

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INVESTMENTS

Arden Group Acquires Younique Headquarters Building in Salt Lake City

Arden Group | February 02, 2022

Arden Group (Arden), in partnership with Vesta Realty Partners, LLC (Vesta), announced it has acquired the Younique headquarters building, a 125,000-square-foot, five story, trophy quality office building located at 3400 West Mayflower Ave, in Lehi, Utah. The property, strategically located in the vibrant Silicon Slopes market of Salt Lake City, is 100% leased to Younique, a health and wellness direct sales firm, through 2026. This transaction represents the fourth Salt Lake City office transaction for Arden and Vesta over the last year as well as the fifth office property acquisition in Silicon Slopes, Utah's high-demand tech corridor. Previous trophy office acquisitions for the firm include the purchase of the Divvy and Dealertrack two-building portfolio in Draper, UT as well as the purchase of the Solutionreach office building and the Entrata headquarters, both in Lehi, UT. The asset was first developed in 2016 by Stack Real Estate, one of Utah's most prominent real estate developers, and was built as a fully amenitized corporate campus and showcase property for Younique. The well-located development sits on a 7.19-acre site and is one of the most visible buildings on the popular I-15 interchange. The property is nearby the FrontRunner high-speed train which offers 90-mile coverage from Ogden to Provo and is walkable to an abundance of dining. Arden continues to demonstrate its belief in Salt Lake City and the Silicon Slopes technology corridor through our numerous trophy office acquisitions, With its best-in-class design, top amenities, and high visibility, the fully leased Younique corporate headquarters is a perfect addition to our growing regional portfolio, and we're pleased to announce this latest purchase." Craig A. Spencer, Chairman and CEO of Arden Group. Investor and tenant demand in Utah's Silicon Slopes have remained resilient over the past 24 months, We are continuing to experience new capital sources seeking exposure to the market while local and out-of-state tenant demand is ramping up to pre-COVID levels." Jeff Grasso, Founder and Managing Partner of Vesta Realty Partners. The Younique headquarters building features a best-in-class design with high-end two-story lobbies as well as floor-to-ceiling glass throughout. Built to LEED Silver standards, the building includes open floor plans with an average floor plate size of 25,000 square feet. The property includes an abundance of Class-A amenities, including a full-size commercial kitchen, cafeteria and lounge, outdoor seating, an auditorium, five balconies with seating, a full-service salon and an R&D Lab. About Arden Group Arden Group is a vertically integrated real estate investment management firm focused on equity and debt investments in the top 25 US MSA's. Founded in 1989, Arden has acquired over $6.4 billion of properties and asset managed in excess of $11.8 billion of commercial real estate assets since inception. In 2012, Arden Group established Arden Fund Management, its real estate equity and debt fund management business with offices in Philadelphia, New York, Tampa, Miami, Minneapolis, and Newport Beach. Arden Group has been consistently ranked globally as a top performing Private Fund Manager by both Cambridge Associates and Preqin including Preqin's #1 global ranking in 2017, 2018 and 2019. About Vesta Realty Partners Vesta Realty Partners is an institutional sponsor focused on real estate investing outperformance through a macro driven value-oriented approach coupled with hands on business plan execution. The firm focuses on undervalued office, life science, industrial, residential, and opportunity zone investing with offices in New York City and Salt Lake City. The firm was founded in 2020 by Jeff Grasso and currently manages a portfolio of more than $750 million of real estate assets and developments.

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