REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
WPM Real Estate Management | January 27, 2023
WPM Real Estate Management, one of the leading property management firms in the Mid-Atlantic region, has today announced several internal promotions as part of its long-term objective for growth and success.
WPM's Maintenance and Construction Services Division named Michael 'Mike' Mangum Director of Operations. Mike joined WPM 14 years ago as a service technician and was elevated to Maintenance Operations Advisor in 2021 after 10 years as Service Manager in the Multifamily Real Estate Division. He's vital to WPM's operations, training, and success. His new post is part of a strategic reorganization inside the division that will allow the company to extend its service offerings and boost cross-company collaboration on maintenance and services, increasing client value.
Meanwhile, Rita Dore has now been promoted to Senior Commercial Manager for WPM's Commercial Real Estate Division. She managed community associations for the Association Real Estate Division. Rita has worked in WPM's Association, HR, Commercial, and Services divisions for 17 years. She has excellent client contacts and extensive knowledge of WPM's procedures, technologies, and operations. Her leadership at WPM's Commercial Real Estate Division will help it flourish.
CEO James Dahlgren, Jr. expressed, "We're excited to have Mike and Rita stepping into these leadership positions to help us grow these two divisions." "Both of these individuals bring extensive knowledge and experience to their roles and will be instrumental to WPM's continued growth and expansion," James added.
(Source – Cision PR Web)
Besides, Herman Martin is now the Multifamily Maintenance Operations Advisor, replacing Mike Magnum. He joined WPM in 2021 after 30 years in the profession. Herman's knowledge of the division's service demands and track record ensure continuity. This role will report to Mangum and assist with Multifamily Real Estate Division maintenance needs as part of the planned restructuring.
In this context, CEO James Dahlgren, Jr. remarked, "Herman is well respected by Associates and clients alike." "I am confident he will continue to deliver on WPM's commitment to service excellence in this new role," he concluded.
(Source – Cision PR Web)
About WPM Real Estate Management
WPM Real Estate Management manages nearly 25,000 properties and over 40,000 people in Maryland, Pennsylvania, Delaware, and Virginia. Its services include multifamily real estate management, association real estate management, commercial real estate management, along with maintenance and construction. The company brings an experienced owner's viewpoint and a proactive approach to property management to ensure that its actions and decisions add value for people living, working, and investing in its properties. Being a premier real estate management firm in the region, the company has earned the title of Accredited Management Organization®.
REAL ESTATE TECHNOLOGY,MORTGAGE AND LENDING
3650 REIT | January 04, 2023
3650 REIT, a national commercial real estate lender with a $13.1 billion loan portfolio for relationship borrowers, has announced the launch of its new Transitional Lending platform. The main goal of the new platform is to make transitional loans for borrowers who want to do recapitalization or certain other transactions.
With the platform launch, 3650 will now be able to provide borrowers with a complete range of financing options across the property life cycle in a market where banks and other alternative lenders are pulling back.
The Transitional Lending platform is a new addition to 3650's existing Bridge and Event Driven (BED) and Stable Cash Flow platforms. It offers flexible loan structures for cash-flowing or newly built projects with a clear path to stabilization. About $500 million in transitional loans are expected to be made through the new platform in 2023.
3650 REIT said that in today's uncertain capital markets, the company must give borrowers various loan options to cover the wide range of deals being made. This new platform is an important and exciting step forward to help the growth process.
In this real estate cycle, transitional lending fills borrowers' financing gaps. Those who take these loans will also get customized short-term financing options and business plans for each property. 3650, which has the infrastructure and staff to fund these projects, will book its first loan on the new platform in 2023.
In terms of loans originating via its BED and Stable Cash Flow platforms, 3650 had $1.66 billion by the end of 2022.
About 3650 REIT
3650 REIT is a commercial lender that makes portfolio loans and takes care of them for relationship borrowers all over the country. Because of its unique way of investing, national scale, vertically integrated platform, and status as a rated special servicer, it can offer customized financing options, high-touch service, and reliable results that are centered on the customer. Meanwhile, 3650 REIT manages its portfolio efficiently by retaining investment risk.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
The Premier Property Group | March 14, 2023
One of the largest residential and independent real estate brokerage in Northwest Florida and an affiliate of Luxury Portfolio International®, The Premier Property Group, recently announced it has acquired a significant stake in Bay County, Florida based, Beachy Beach Real Estate, one of the region's most well-known, independently owned real estate brokerages. The terms of the transaction's finances were not disclosed.
The acquisition of the significant stake signifies the Walton County-based company's expansion into Bay County, anchored by Panama City Beach and Tyndall Air Force Base and advancing its long-term growth trajectory in Florida and the Southeastern United States. The Premier Property Group was established in 2008 by Keith Flippo and Bob Parks. With a team of over a hundred agents and staff, it has also led luxury sales across the region. As a result, it is consistently ranked among the top Brokerages in the Florida Panhandle.
Beachy Beach Real Estate was established in 2010 by Broker/Owner Karen Smith and is based in Panama City Beach. It will continue to operate under its current name and branding after The Premier Property Group acquired a significant stake, now benefiting from the combined strength will boost the company's rank to the number one in the Bay County's independent brokerages. With 20+ years of industry experience, Smith is admired for her leadership, expertise, and extensive community involvement. She will continue to head Beachy Beach Real Estate and, along with her current executive team, will manage day-to-day operations.
About The Premier Property Group
The Premier Property Group is one of the largest independent real estate firms in Northwest Florida. The company has been a consistent leader of sales in the region since its first year of operations, and it has been ranked in the top 10% of luxury sales by the Emerald Coast Association of Realtors. It offers experienced and knowledgeable agents in Okaloosa, Walton, and Bay counties who specialize in residential, commercial, and new development real estate. In addition, it serves the 30A, Sandestin, Destin, and Panama City Beach regions of Florida from three convenient locations in Seacrest Beach /Rosemary Beach, WaterColor, and Grand Boulevard at Sandestin.