REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT
FCPT | November 24, 2022
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Chili’s property for $2.6 million from the Seritage transaction previously announced in October 2019 and expanded in August 2020. The property is located in a strong retail corridor in Florida and is under a triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.
This is the last property to be acquired from the previously announced portfolio transactions with Seritage. Inclusive of today’s transaction, FCPT has acquired a total of 27 properties for $80.8 million from Seritage.
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.
REAL ESTATE INVESTMENT
HappyCo | November 03, 2022
HappyCo, the leading residential operations platform for real-time rental property data collection and utilization, is acquiring Toronto-based Yuhu, a comprehensive rental lifecycle management platform. Terms of the deal were not disclosed.
Yuhu's operations platform is utilized by top property owners and operators such as Boardwalk, CAPREIT, and BentallGreenOak and services over 500,000 prospects and residents across Canada and Europe.
"We've known the Yuhu team for quite some time and both companies share a similar culture and common vision to improve the multifamily industry, The merger of our firms broadens our collective impact on the overall resident lifecycle, and will allow us to capture more actionable data, create opportunities to enhance resident experiences, and streamline property operations to ease the daily workload of onsite teams."
-HappyCo CEO, Jindou Lee
Yuhu's cloud-based software for property owners and managers will be integrated into HappyCo's 'Happy Property Suites' and 'Happy Force' products to offer a complete operations solution for customers and residents. The Yuhu acquisition provides HappyCo with a resident-facing solution that significantly enhances its existing products and offers HappyCo customers a cohesive product that delivers an end-to-end view of the property lifecycle.
As part of the acquisition, Yuhu's current employees will join the HappyCo team, including Hugh Kolias, CEO of Yuhu, who will join as EVP. Existing Yuhu customers will benefit from an expanded solutions platform, accelerated product investment, and broader support while enjoying continuity of service.
We are thrilled to join forces with Jindou and the HappyCo team to achieve our shared vision to enhance the quality of life for multifamily residents and operators, By bringing our teams and products together, we're able to provide our mutual client-partners with an even better all-around experience,said Kolias.
Founded in 2011, HappyCo is the leading source of condition assessments and workflow tools for the multifamily market. Designed to automate, simplify, and protect data collected during residential rental property inspections, the platform has in-unit data on more than 3.5 million multifamily and single-family rental homes – notably one out of every eight professionally managed units in the U.S. The company provides vital underwriting information to lenders, investors, and asset managers, and empowers property managers with real-time operational tools and reporting. In 2021, HappyCo data were relied upon in about 26 percent of all U.S. sales transactions of multifamily units. HappyCo also serves property managers, offering a complete suite of apps to simplify processes, drive better performance and generate comprehensive views of assets within a portfolio.
HappyCo is a real estate software company that develops mobile and cloud solutions to enable real-time operations data for property managers, asset managers, lenders, and investors. Its software suite includes market-leading condition assessment and workflow tools with in-unit data on over 3.5 million rental homes. Founded in 2011 in Adelaide, Australia, the company is privately held with a remote workforce throughout the US, Canada, and Australia.
About Yu hu
Yuhu Inc. is a cloud-based multifamily operations platform that manages the entire rental lifecycle from lead to renewal. Yuhu's product suite provides onsite teams with a single, comprehensive solution and access to consolidated data insights. Founded in 2015, Yuhu supports over half a million residents, onsite staff, and prospects for its client-partners including Avenue Living, BentallGreenOak, Boardwalk, CAPREIT, Concert, Hollyburn, Campus Living Centers, Westdale, and other leaders in the Canadian multifamily industry.
REAL ESTATE INVESTMENT,MORTGAGE AND LENDING
Hallmark Home Mortgage | November 07, 2022
Hallmark Home Mortgage, a Fort Wayne, Indiana-based independent residential mortgage lender, has completed the acquisition of a well-established team of mortgage bankers. The move will expand its residential lending services to include Colorado, Georgia, Kansas, Louisiana, Missouri, South Carolina and Texas; representing a strategic milestone for the organization.
"I am pleased to welcome this talented team of more than 60 mortgage professionals, Hallmark is now positioned to become one of the nation's top 100 residential mortgage lenders. This increased productivity will create new employment opportunities at the corporate headquarters in Fort Wayne."
-Deborah Sturges Chief Executive Officer and Founder at Hallmark Home Mortgage
This is a tremendous opportunity, The team brings a strong lending and scalable presence in their current markets and shares the same passion as Hallmark for delivering a superior customer experience,noted Hallmark Home Mortgage Executive Vice President/Division Manager Mark Etchison.
Marc Wadman will continue to direct the newly acquired team as Senior Vice President/Regional Manager. Hallmark is known for its continued strong leadership and team support within the mortgage industry, It became evident after discussions with the Hallmark executive leadership team that this was the ideal fit for our associates and clients,Wadman added.
With rising inflation and mortgage rates climbing, workforce capacity has had to be adjusted for many mortgage lenders. Hallmark, however, continues to successfully execute against its strategic growth plan by focusing on its Realtors®, referral partners and past clients.
About Hallmark Home Mortgage
Fort Wayne, Indiana-based Hallmark Home Mortgage was founded in 2007 by Deborah Sturges. Driven by her strong passion for providing home finance solutions backed by a tradition of service, the company continues to impact the communities and the employees it serves. Whether a first-time home buyer or experienced homeowner, Hallmark offers the perfect combination of digital technology and human touch to ensure that every customer experience is tailored to fit their individual needs.