REAL ESTATE TECHNOLOGY

Ben Blakney is promoted to President by Mesirow Institutional Real Estate Direct

prnewswire | November 12, 2020

Mesirow Institutional Real Estate Direct is pleased to announce the promotion of Ben Blakney to president effective November 1, 2020. Since joining Mesirow Financial in 2014, Ben has held numerous senior positions within the multi-family value-added real estate team, most recently as senior managing director and head of strategic solutions where he led the development and implementation of client solutions and supported the group's growth efforts.   IRED is an integral part of Mesirow's Global Investment Management division, with $3.4 billion in AUM, and has invested in approximately 34,000 multi-family units in 23 cities nationwide. Assets are diversified across suburban and urban properties and US geographic regions.

Spotlight

Economies around the world have seen immediate impacts from “Brexit,” the June 23rd vote byGreat Britain to leave the European Union. In the days immediately following the announcement, stock markets plummeted and the Euro and Pound tumbled against the dollar. This initial reaction was caused by the shock of the news – markets had expected the “Remain” vote to win. Since then, markets have settled somewhat but remain sensitive to any new update or media headline, and stock market volatility has become the norm. But many questions remain: what next? What will become of the EU? How will this affect the global and U.S. economies and what impact will it have on the commercial real estate markets across theU.S.?

Spotlight

Economies around the world have seen immediate impacts from “Brexit,” the June 23rd vote byGreat Britain to leave the European Union. In the days immediately following the announcement, stock markets plummeted and the Euro and Pound tumbled against the dollar. This initial reaction was caused by the shock of the news – markets had expected the “Remain” vote to win. Since then, markets have settled somewhat but remain sensitive to any new update or media headline, and stock market volatility has become the norm. But many questions remain: what next? What will become of the EU? How will this affect the global and U.S. economies and what impact will it have on the commercial real estate markets across theU.S.?

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REAL ESTATE TECHNOLOGY

Pacaso Launches Second Home Specialist Certification Program

Pacaso | November 01, 2022

Pacaso, the leading technology-enabled real estate marketplace that helps people buy and co-own a luxury second home, today launches its Pacaso Second Home Specialist Certification program that enables agents to grow their business, expand their knowledge of co-ownership and unlock exclusive benefits. The Pacaso Second Home Specialist Certification program is an easy five-step process that includes learning co-ownership best practices via the Pacaso Agent Playbook, garnering resources and tips for sharing co-ownership with agents' networks and experiencing a live virtual tour of a Pacaso home during an overview webinar, as well as submitting a referral. In addition to a 3% referral commission and Pacaso equity on each closed referral and additional 1% commission on resales for life, agents who complete the program will receive a Pacaso Second Home Specialist badge, free enrollment in Pacaso Access for agents ($1,000 value), and more exclusive opportunities to expand their business. Since the company's October 2020 launch, Pacaso has paid agents more than $21 million in total gross commission income (GCI). "By taking a short time to complete our new Second Home Specialist Certification program, agents will have the knowledge they need to discuss co-ownership, as well as create further trust with their clients on home ownership options, The process is so easy to complete and sets agents' business up for growth in 2023, I cannot wait to be at the next industry conference and see agents sporting their Pacaso Second Home Specialist badge." -Vice President of Industry Relations Marnie Blanco The debut of the Pacaso Second Home Specialist Certification comes on the heels of the Pacaso Agent Referral Dashboard launch, which enables agents to seamlessly refer potential second home buyers, track the status of their referrals and commission, and get transparent updates on the referral every step of the way. With the uncertainty of the market, successful agents are already creating business plans for next year. The best plans always include continued education and exploring new ways to grow their business – making this certification a 'must have' for agents. The buyers that purchase high-end second homes typically have friends that also buy high-end second homes. If you don't tell your clients about co-ownership and Pacaso, someone else will, said Jeff Kennedy, vice president of Leading Real Estate Companies of the World. Pacaso partners closely with all interested real estate agents and brokerages to help clients buy and sell a second home. Agents earn a 3% referral commission on the share price and Pacaso equity in the form of 500 restricted stock units (RSUs), when helping clients co-own a luxury second home in destinations regardless of where they're based or licensed. Pacaso manages the entire process to make it simple for agents from scheduling tours to answering questions, or managing inspections and escrow. The real estate industry is embracing co-ownership as Real Estate Standards Organization and its members defined co-ownership as a property type in 2021. Engel & Vӧlkers, RE/MAX, and Better Homes and Gardens® Real Estate introduced Pacaso and co-ownership to the already full-service luxury brokerages and networks, and Leading Real Estate Companies of the World® selected Pacaso for its Solutions Group program. About Pacaso Pacaso® is a technology-enabled marketplace that modernizes real estate co-ownership to make owning a second home possible and enjoyable for more people. Pacaso curates luxury listings with premium amenities and high-end contemporary interior design, offers ⅛ to ½ ownership with integrated financing, and, after purchase, professionally manages the home and supports seamless resale. Co-founded by Austin Allison and Spencer Rascoff in 2020, Pacaso operates in top second home destinations around the world. Pacaso has been certified as a Great Place to Work and is recognized as one of Glassdoor's 2022 Best Places to Work.

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REAL ESTATE TECHNOLOGY

RI Marketplace and SharpLaunch Announce a New Partnership to Expand Their Technology & Services for a Better Client Experience

RI Marketplace and SharpLaunch | November 16, 2022

RI Marketplace ("Marketplace"), the leading online auction platform for commercial real estate (CRE) transactions, today announced their partnership with SharpLaunch, a powerful CRE marketing software designed to accelerate time-to-market and meet the needs of building owners, asset managers, investment sales teams, and brokers alike. Through this new partnership, SharpLaunch clients' listings can now be viewed on Marketplace's Listings page. This partnership will allow Sharplaunch's brokers to take advantage of a new, curated, and fast-growing network of highly vetted investors and for Marketplace's buyers to gain access to more opportunities. SharpLaunch customers can now easily opt-in to have their sales listings displayed on Marketplace's Listing page and automatically updated in real time as listing statuses are modified, all with the click of a button. The process is managed through an API integration that enables brokers to benefit from a wider distribution of their listings without having to manually input and update data from one site to another. SharpLaunch's ability to help streamline marketing operations for busy commercial real estate clients like CBRE and Cushman & Wakefield allows them to quickly and easily publish their listings so they can get back to driving revenue and making an impact at their organization. Not only does this partnership create a greater likelihood for buyers and sellers to transact, but it also illustrates how Marketplace and SharpLaunch continue to take the lead as CRE innovators by encouraging industry cooperation and collaboration with the ultimate goal of creating a more streamlined, efficient experience for commercial real estate professionals across the value chain. "By creating these partnerships and utilizing the best of both technologies, we are meeting the demands of our users – SharpLaunch clients gain more visibility for their property listings and Marketplace investors get to see more opportunities to buy, In collaborating with top tier CRE entrepreneurs and thought-leaders like SharpLaunch, we are creating a win win win for us, our clients and the industry as whole. We are consciously trying to move the CRE space forward by creating a culture of openness with technology partners - and having fun while we do it." -James Shevlin President and Chief Operating Officer at CWCapital, an affiliate company of RI Marketplace Marketplace has built a network of over 100,000 qualified investors nationwide with a proven track record of buying assets and who regularly visit Marketplace's website in search of their next deal, Making sure our listings could integrate with such a powerful platform was an easy choice, and an important one for the customers who rely on us to help them find the right buyers,said Bob Samii, Founder and CEO of SharpLaunch. About RI Marketplace RI Marketplace is the leading auction platform for commercial real estate transactions, bringing buyers, sellers and brokers together to efficiently list, market and close deals. The platform allows local, national and global investors the opportunity to quickly review and bid on assets throughout the country. Marketplace is managed by a dedicated team of commercial asset experts with more than $11 billion in online real estate sales. Since its inception in May 2017, the platform has completed more than $3.4 billion in transactions. About CWCapital Asset Management LLC CWCapital is a highly rated special servicer, investment management, and analytics firm with over $220 billion UPB of name servicing rights. CWCapital provides value maximization services and solutions for clients throughout the entire investment life cycle. The company is comprised of experienced real estate specialists managing one of the largest Special Servicing platforms. CWCapital offers deep market experience in acquisition services, underwriting, due diligence, investment management, dispositions, CMBS research, bond analytics – all powered by RealINSIGHT, a state-of-the-art asset management software. About SharpLaunch SharpLaunch is a powerful commercial real estate marketing software that accelerates lease and sales volume for busy CRE teams. As experts in commercial real estate marketing, SharpLaunch provides a suite of easy-to-use tools to streamline marketing operations, accelerate time-to-market, and amplify the digital presence of commercial properties.

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REAL ESTATE INVESTMENT

CIP Real Estate Acquires Industrial Complex in North Atlanta Metro

CIP Real Estate LLC | November 17, 2022

CIP Real Estate has acquired Kennesaw Mountain Business Park, an industrial property in the north Atlanta metro area, for $22.6 million. The 10-acre parcel features two buildings totaling 144,130 square feet. The business park comprises 18 shallow bay industrial units ranging in size from 3,920 to 18,000 square feet, and the majority of the suites are between 6,000 and 12,000 square feet. The project is currently over 96% occupied. Due to strong demand and limited supply of small and mid-bay industrial units in the upscale Marietta area, a suburb of Atlanta, CIP expects significant rental increases in the next five years, which will be supported by upgrades to the facility, including improvements to the parking lot and landscaping, along with painting and HVAC upgrades. “We’re seeing unprecedented industrial demand in the Atlanta metro area, driving low inventory and supporting higher rental rates, Kennesaw Mountain Business Park is a strategic addition to our Atlanta metro portfolio, in a highly desirable location with premier accessibility and demographics.” -Eric Smyth, CEO of CIP The Kennesaw project is the newest acquisition in CIP’s growing Atlanta metro portfolio. Just 17 miles away, in Alpharetta, is Mansell Commons, a 223,000-square-foot industrial and flex project. CIP invested nearly $750,000 in capital improvements on Mansell Commons this year. To the east, additional CIP assets include Gwinnett Commons, Brook Hollow Center, Pleasantdale Industrial Park and Perimeter Place Business Park. CIP’s purchase of Kennesaw Mountain Business Park was funded with $14.69 million in takeback financing from the seller. About CIP Real Estate LLC CIP Real Estate LLC is a full-service real estate investment company focused on the acquisition, repositioning, re-branding, and management of industrial assets throughout West Coast, Southeast, and Texas markets. Founded in 1995 and based in Irvine, CA, the company owns and manages approximately 9.5 million square feet of quality properties, with offices in Ontario (CA), Riverside (CA), Hayward (CA), Las Vegas, Charlotte, Atlanta and Dallas.

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