REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT
SmartRent | January 03, 2023
SVN | SFR Capital Management (SVN | SFR), a privately held commercial real estate investment company that specializes in single-family build-for-rent (BFR) housing, recently announced a partnership with SmartRent, a provider of real estate technology solutions. SVN | SFR's rental communities are made to improve residents' quality of life, safety, and retention while lowering costs and making operations more efficient.
SVN | SFR Capital Management says that smart home technology has become an essential part of today's dedicated rental communities, and most renters are willing to pay more for houses with smart technology already built in. SmartRent's daily operational process solutions will help SVN | SFR and single-family rental renters by automating tenant technology and protecting assets.
As the BFR housing market alternative remains a popular commercial real estate (CRE) investment, SVN | SFR plans to buy and combine about 35,000 new construction BFR homes over the next 5–7 years, depending on the economy and tenant demand. The company will do this by raising an initial $12 billion in equity and debt capital, which it will use to build a large-scale institutional rental home portfolio and sell when it is stable.
SmartRent said today's operators and tenants want the modernization, optimization, and convenience that technology brings. The firm is thrilled to join SVN | SFR to usher in the age of smart solutions for their properties. With the help of SmartRent's hardware, software, and monitoring solutions, SVN | SFR's teams will be able to improve operational and financial efficiency as well as resident satisfaction across communities.
SmartRent's array of products and services encourages integrated modern living. Supported devices include locks that don't need keys, doorbells that ring, switches, dimmers, plugs, lightbulbs, thermostats, voice assistants, leak, motion, and door sensors. In addition, prospective residents/tenants can take self-guided tours and add ring devices for enhanced protection.
SmartRent, Inc., founded in 2017, is a recognized enterprise property technology company built by and for real estate operators. All the company's products, including smart house-building hardware and SaaS solutions that run in the cloud, make it easy to see and control real estate assets. SightPlan, its subsidiary, specializes in workflow management solutions that automate the property lifecycle. The powerful, end-to-end enterprise platform from SmartRent and SightPlan boosts efficiencies and delivers cost savings and extra income streams, along with elevating user experiences.
BROKERAGE,REAL ESTATE INVESTMENT
Real | December 12, 2022
The Real Brokerage Inc. (“Real” or the “Company”) (TSX: REAX) (NASDAQ: REAX), the fastest growing publicly traded real estate brokerage, today announced it has successfully completed its acquisition of LemonBrew Lending Corp. (“LemonBrew Lending”), a tech-enabled home loan platform.
The acquisition broadens Real’s product portfolio to include mortgage brokerage services and is a critical step in the Company’s mission to offer a seamless end-to-end home buying experience that removes pain points for both agents and their customers. Licensed as a mortgage brokerage in 20 states throughout the U.S., LemonBrew Lending provides the foundation for Real to offer consumers the ability to finance their home purchase with Real, removing the need to work with multiple service providers.
“LemonBrew Lending’s current mortgage capabilities and future lending potential, brings us one step closer to our strategy of providing consumers a frictionless home buying experience,”
- Tamir Poleg, Chairman and Chief Executive Officer of The Real Brokerage
The LemonBrew Lending team is excited to take the mortgage lending platform we have developed to the next level, and couldn't be happier that we get to do this in partnership with Real's best-in-class technology, said Samir Dedhia, Chief Executive Officer of LemonBrew Lending.
With Real’s earlier acquisition of Expetitle, a digital title and settlement company, now operating as Real Title, Real now has added mortgage and title capabilities to its growing brokerage platform in 2022.
Summary of the Acquisition
Pursuant to the terms of a share purchase agreement dated September 23, 2022 between the Company, LemonBrew Lending and LemonBrew Technologies Corp. (the “Seller”), the Company acquired 100% of the issued and outstanding equity interests of LemonBrew Lending from the Seller for an aggregate purchase price of $1,250,000 (the “Acquisition”). The purchase price was satisfied by (i) cash in the amount of $800,000 and (ii) the issuance of 351,837 common shares (the Consideration Shares) at a deemed issued price of $1.279 per share. The issued price of the Consideration Shares is equal to the product of $450,000 divided by the 5-day volume weighted average trading price of Real’s common shares on the NASDAQ immediately prior to the closing of the Acquisition.
The Consideration Shares are subject to a six-month hold in accordance with applicable securities laws and have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and are “restricted securities” within the meaning of Rule 144 of the U.S. Securities Act subject to restrictions to the effect that the Consideration Shares may not be reoffered or resold in the United States absent registration or an applicable exemption from the registration requirements.
In connection with the closing of the Acquisition, the Company entered into certain agreements with management and key employees of Lemonbrew Lending (the “Key Employee Agreements”). The Key Employment Agreements provide for certain performance-based milestone payments of $2,500,000 payable over 36 months following closing of the Acquisition, of which $2,000,000 with be payable in cash and $500,000 will be payable in restricted share units of the Company.
The Real Brokerage Inc. (TSX: REAX) (NASDAQ: REAX) is revolutionizing the residential real estate industry by pairing best-in-class technology with the trusted guidance of the agent-led experience. Real delivers a cloud-based platform to improve efficiencies and empower agents to provide a seamless end-to-end experience for home buyers and sellers. The company was founded in 2014 and serves 44 states, D.C., and three Canadian provinces with over 7,000 agents.
REAL ESTATE TECHNOLOGY,AGENT
SkySlope | January 10, 2023
Oregon Real Estate Forms, LLC (OREF) has recently added the SkySlope disclosure solution, Breeze, to its benefits program.
Breeze is a simple, guided digital workflow that helps agents and sellers easily complete disclosure forms.
OREF, based in Eugene (Oregon), develops and licenses real estate transaction and advisory forms for real estate professionals in Oregon. Almost a year ago, the organization turned to SkySlope to overhaul the experience of digital forms for the agents.
"Since its launch, OREF's partnership with SkySlope has been incredibly successful," says OREF CEO Melissa Peterson. She added, "SkySlope's ease of use, award-winning customer service, and time-saving functionality has helped to reinvent the form-filling process for our members. As we looked to 2023, we were interested to see how we could grow our partnership with SkySlope to optimize our member experience and provide additional value."
(Source: PR Newswire)
SkySlope Breeze, a digital disclosure solution that converts seller disclosures into a guided digital questionnaire, is being incorporated by OREF into their member benefits package to broaden its offerings.
"Breeze provides a guided workflow that helps sellers complete complicated disclosure forms with ease," says Peterson. "It's a win for sellers - and that's ultimately a win for agents."
(Source: PR Newswire)
Breeze transforms fill-in-the-blank disclosure forms like Oregon's SPDS into user-friendly procedures. This simplifies the time-consuming, legal jargon-heavy disclosure procedure. On the back end, sellers' responses populate form fields, resulting in complete disclosure forms. Breeze's convenience increases with in-app messaging that allows sellers to integrate comments or questions for agents in the workflow.
SkySlope, a California-based prop-tech company, is trusted and innovative. Over 650,000 U.S. and Canadian real estate agents and 15 prominent U.S. brokerages use its digital transaction management platform. The startup wants to produce the best autonomous transaction platform. SkySlope lets brokers, agents, auditors, and transaction coordinators handle deals from contract to close. Its product package lets real estate professionals spend less time in front of a screen and more time helping customers.