Real Estate Investment
Newmark | September 26, 2023
Newmark Group, Inc. a leading commercial real estate adviser and service provider to large institutional investors, global corporations, and other owners and occupiers, announces the launch of NewliticQuest. Bringing together Newmark's expertise in real estate, technology and consulting onto a single platform, NewliticQuest offers accelerated insights to develop strategic and tactical recommendations, inform business case development and achieve optimal results for property portfolios. Together with Newlitic, Newmark's proprietary data visualization platform, NewliticQuest is another addition to Newmark's growing suite of technology solutions serving corporate real estate leaders.
Leveraging NewliticQuest, organizations are better equipped to plan for and respond to business change, disruptive events, mergers and acquisitions and real estate opportunities through strategic insights, including location and market rate optimization, ideal vacancy rates, talent retention, commute times and more.
"Newmark is committed to investing in leading-edge technology that drives real decision-making dynamics to define the future of the workplace," said Rick Bertasi, Chief Executive Officer of Newmark Global Corporate Services. "Given the changing nature of corporate real estate, technology advancements will further amplify the value and potential of an organization's real estate strategy as companies pivot towards more data-centric cultures.
NewliticQuest offers several self-serve capabilities and insights into business and real estate performance with dynamic and simple dashboards, which can be accessed directly by clients. The software's automated data validation capabilities help users quickly pinpoint data issues to ensure that information is accurate before being executed. Coupled with Newmark's best-in-class consulting expertise, the tool can enable in-depth portfolio assessment, delivering tailored and tangible solutions for clients assessing their portfolio.
About Newmark
Newmark Group, Inc., together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of June 30, 2023, Newmark's company-owned offices, together with its business partners, operate from approximately 170 offices with over 7,400 professionals around the world.
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Real Estate Technology, Real Estate Investment
PRNasia | July 17, 2023
MRI Software has acquired Loci Solutions Group Pty Limited, an Australian property technology consulting and outsourced managed services company serving commercial, industrial, and retail property markets across Asia Pacific.
Loci Solutions is well-known as an MRI Certified Partner specialising in the implementation of property management systems (PMS) for property developers, managers, and owners/investors. It also provides value-add outsourced accounting and lease administration services, as well as concierge support.
David Bowie, Senior Vice President and Managing Director for MRI Software in Asia Pacific, said, "I'm excited to officially welcome Nikki, Gwen, and the rest of the Loci team to MRI. This acquisition strengthens our MRI @Work™ capabilities and enables us to scale and better support our commercial clients in their business growth. We're particularly excited to add Loci's outsourced lease administration services to our portfolio, helping clients automate manual tasks, reduce costs, and accelerate time to value."
"Loci has been one of our key partners for over 15 years, serving as our primary implementation partner for Property Management X (PMX) in APAC for most of this time. As we integrate Loci's capabilities into our solution suite, our clients will have a more consistent experience and further benefit from our combined PropTech expertise," he said.
Loci co-founder to lead MRI @Work Professional Services and Support
Loci CEO and co-founder, Nikki Steadman, will lead the APAC MRI @Work Professional Services and Support team, which supports some of Australia's largest and most complex commercial real estate portfolios.
Speaking in her new capacity as Head of MRI Professional Services and Support for MRI @Work, Asia Pacific, Ms. Steadman says, "We've felt like an extension of the MRI family for the last 15 years, and it's an honour to be formalising our relationship. Creating a united team like this allows an even more integrated approach for our commercial clients. I am really excited about the depth and breadth of service and product we're able to offer together. It's my privilege to now lead the unified team as we work from beginning to end in a client's journey and success."
Mr. Bowie says, "Rest assured, MRI remains committed to our core value of providing clients the ability to choose the service providers that best meet their business needs. We look forward to continuing to grow and enable our managed services and consulting partner ecosystem to meet client demands and deliver world class services with a sole focus of client success."
The financial terms of the deal are confidential.
About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI's open and connected, AI-first platform empowers owners, operators and occupiers in commercial and residential property organisations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than six million users worldwide. Through innovative solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to realise their vision of building thriving communities and stronger businesses. For more information, please visit mrisoftware.com/au.
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Real Estate Investment, Asset Management
Businesswire | July 18, 2023
Ares Management Corporation (NYSE: ARES) (“Ares”) announced today that Ares has entered into a definitive agreement to acquire 100% of Crescent Point Capital (“CPC”), a leading Asia-focused private equity firm with approximately $3.8 billion of assets under management, as of March 31, 2023.
Founded in 2003, CPC has approximately 50 professionals. The team is headquartered in Singapore and has a presence in China, Indonesia, the Philippines and Vietnam. CPC pursues a private equity strategy focused on investing in industry-leading consumer companies across the larger Southeast Asia markets and China. Supported by a loyal and growing investor base over its nearly 20-year history, CPC has established a strong reputation and delivered attractive results investing through market cycles in its target sectors and geographies.
Ares has established direct sourcing and investment capabilities in the Asia Pacific region across the credit, private equity, real estate and infrastructure asset classes through Ares Asia, previously known as Ares SSG. Ares Asia operates with approximately 165 professionals across a local footprint of nine offices in key Asia Pacific markets, as of March 31, 2023. This transaction highlights a continuation of Ares’ global expansion and creates a compelling opportunity for Ares to capitalize on the strong growth prospects for dedicated Asia Pacific private equity strategies.
“We are proud of the significant Asia Pacific presence that we have established over the years, and we believe that CPC is an excellent platform that will further enhance our footprint and capabilities in the region,” said Michael Arougheti, Chief Executive Officer and President of Ares. “We have enjoyed the opportunity to develop a great relationship with the Crescent Point team. They are experienced investors who we believe will bring impactful synergies to our existing Asia team.”
“Similar to Ares, we believe CPC possesses a highly collaborative culture. We believe that they will bring deep private equity experience, relationships and a demonstrated track record of investing in markets that will greatly complement our efforts and footprint in the region,” said Edwin Wong, Head of Ares Asia. “The expansion of our local capabilities will also strengthen our position as a creative solutions provider to management teams and sponsors in the market.”
As part of Ares, CPC is expected to benefit from the advantages of Ares’ scaled global platform and network, including Ares’ local market presence across the Asia Pacific region. The transaction provides opportunities to enhance CPC’s growth through greater access to capital, market intelligence, transaction opportunities and expanded investor relationships.
“We look forward to joining Ares and we firmly believe that this combination will help further catalyze the growth of our business,” said David Hand, Managing Partner of CPC. “As part of a leading global brand and scaled platform, we expect to realize several shared benefits that will support our ability to deliver attractive investment returns for our investors, including greater market intelligence and a broader set of local sponsor relationships.”
The transaction is expected to be immediately accretive to Ares’ after-tax realized income per share of Class A and non-voting common stock. The transaction consideration will be primarily comprised of Ares Class A common shares subject to a multi-year lock-up. The transaction is expected to close in the third quarter of 2023 and is subject to customary closing conditions, including regulatory approvals.
Latham & Watkins served as legal counsel to Ares and Kirkland & Ellis and Milbank LLP acted as legal counsel to CPC.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2023, Ares Management Corporation's global platform had approximately $360 billion of assets under management, with more than 2,600 employees operating across North America, Europe, Asia Pacific and the Middle East.
About Crescent Point Capital
Crescent Point Capital pursues a private equity strategy focused on investing in category-leading companies in Southeast Asia and China. We focus on forming close partnerships with our portfolio companies by providing hands-on operational, financial and strategic value-add from the inception of an investment through to its exit. Since inception, we have completed investments in more than 50 transactions in our target markets, with 31 partial or complete monetization events accomplished as of March 31, 2023.
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