Real Estate Technology

Blackstone Real Estate announces the acquisition of the Brookfield Fund Fund's Premier Lab Office Portfolio

businesswire | December 14, 2020

Blackstone (NYSE: BX) today declared that Blackstone Property Partners Life Sciences ("BPPLS") will obtain a best‐in‐class, 2.3 million square foot arrangement of lab places of business from a Brookfield Asset Management land reserve for $3.45 billion. BPPLS is Blackstone Real Estate's long haul, ceaseless capital, core+ return life sciences procedure that claims BioMed Realty, Blackstone's life science land portfolio organization. The exchange is relied upon to shut in the main quarter of 2021 subject to standard shutting conditions.

Around 90% of the portfolio being procured is gathered in Cambridge, Massachusetts. Following the consummation of the exchange, Blackstone will turn into the biggest life science office proprietor in Cambridge, and BioMed Realty, which will have an undertaking estimation of roughly $20 billion, will have 66% of its foundation packed in the Boston/Cambridge market. Cambridge is one of the quickest developing lab office submarkets in the nation because of its nearness world-driving scholastic establishments and the biggest bunch of drug organizations in the U.S. The Cambridge portfolio is situated in East Cambridge, straightforwardly adjoining the Massachusetts Institute of Technology, and is rented to blue-chip occupants.

“This transaction illustrates Blackstone’s continued conviction in the life sciences space both broadly, and within real estate, investing in best-in-class assets located adjacent to top-tier research and education institutions,” said Nadeem Meghji, Head of Real Estate Americas. “We look forward to continuing to grow the platform with the help of BioMed Realty, our world-class life science office platform, with the goal of delivering value to our long-term investors.”

This procurement follows various other critical Blackstone interests in treatments and advancements in the existence sciences space past the company's interests in land. The firm dispatched Blackstone Life Sciences in 2018 to put straightforwardly in promising meds and innovations. In July, Blackstone raised the biggest life sciences private asset to date, and the firm has additionally made significant interests in Cryoport, a main supplier of temperature-controlled coordinations answers for the existence sciences industry, and Precision Medicine Group, a main cutting edge supplier of medication improvement and commercialization administrations.

Deutsche Bank Securities Inc., Morgan Stanley and Co. LLC and Wells Fargo Securities LLC are filling in as monetary counsels to Blackstone, and Simpson Thacher and Bartlett LLP is filling in as lawful guide. Eastdil Secured is filling in as lead monetary guide to Brookfield, and Skadden, Arps, Slate, Meagher and Flom LLP is filling in as lawful counsel. Citigroup Global Markets Inc. likewise offered monetary warning types of assistance to Brookfield regarding the exchange.

About Blackstone Real Estate

Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has $174 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, multifamily and single family housing, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ strategy invests in substantially stabilized real estate globally through regional open-ended funds focused on high-quality assets and Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT that invests in U.S. income-generating assets. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust

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Brokerage, Real Estate Investment

Voxtur Announces Closing of Non-Brokered Private Placement of Units

Yahoo Finance | August 09, 2023

Voxtur Analytics Corp. ("Voxtur" or the "Company"), a North American technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce, further to the releases issued on June 26, 2023, and August 2, 2023, the closing of an additional $6,448,353 of gross proceeds from a non-brokered private placement of units (the “Offering”). With respect to recent prior private placements, the Company closed on $3,052,699 of Units on June 26, 2023, and another $942,000 of Units on August 2, 2023, for an aggregate amount of $10,443,052 of gross proceeds closed under the offerings. The Offering consists of a non-brokered private placement of units (each, a "Unit") at a price of $0.20 per Unit. Each Unit is comprised of one common share of the Company and one common share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder thereof to acquire one common share of the Company at a price of $0.20 expiring on June 26, 2028. The Company has agreed that following the closing it will apply to the TSX Venture Exchange (“TSXV”) to list the Warrants, subject to meeting the applicable distribution and listing requirements of the TSXV. The Company may issue up to an additional $9.55 million of Units pursuant to the Offering, though there is no assurance that additional commitments will be received by the Company or that additional closings under the Offering will be completed. Any such closings that are completed are subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSXV. The proceeds from the Offering will be used for working capital and general corporate purposes. All securities issued in connection with the Offering are subject to a four month and a day hold period from the date of issue in accordance with applicable securities laws. Further, the listing of the Warrants is subject to the receipt of all necessary approvals, including the approval of the TSXV. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold within the United States or to or for the benefit or account of U.S. persons, absent such registration or an applicable exemption from such registration requirements. About Voxtur Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The Company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur's proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. The Company serves the property lending and property tax sectors, both public and private, in the United States and Canada.

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Investments

Curbio Releases the Official Realtor's Guide to Pre-Sale Home Improvement

PR Newswire | August 29, 2023

Curbio, Inc., the leading pay-at-closing contractor solution for real estate agents, today announces the launch of its official Realtor's Guide to Pre-Sale Home Improvement. This free playbook is intended to be a resource for real estate agents as they navigate the home sale process. In today's competitive real estate market, buyers want move-in-ready homes, with 77% of buyers surveyed saying that they wouldn't consider a home that isn't move-in-ready. By offering a turnkey, pay-at-closing concierge service, agents can not only meet buyer demand for move-in-ready properties, but can also stand out from the competition to win listings. With 47% of agents surveyed reporting Curbio's fix first, pay when you sell service helped them win a listing, agents can grow their business and stand out from the competition when other agents are simply offering sellers the status quo. "Agents know that every home, regardless of age or condition, will benefit from pre-sale home improvements, but sometimes that can be a tricky conversation with sellers. And with the hot market over the last few years, truthfully, some agents didn't have to navigate the topic. But, that's no longer the case and pay-at-closing repairs and updates are more important than ever. We created this playbook to help agents navigate their conversations with data, expertise and confidence. Our goal here is to help agents shine in their listing appointments, providing them with the tools and information they need to win listings and get them market-ready successfully," said Olivia Mariani, Chief Marketing Officer at Curbio. Curbio's Guide to Pre-Sale Home Improvement provides a comprehensive overview of pre-sale home improvements for agents, with contents including: • The benefits of pre-sale home updates • Overview of the current market and common seller personas • Guide to pitching pre-sale improvements to win listings • List of the top ROI driven pre-sale updates • Listing walkthrough checklist • Guide for getting ahead of client concerns • Comprehensive overview of Curbio's solution and process Other resources available to agents from Curbio include an agent marketing toolkit, which features everything that agents need to share Curbio with their network, such as customizable social media templates and listing presentation slides. The playbook's release comes on the heels of news earlier this month announcing a US roadshow tour offering free seminars for real estate agents looking to level up their pre-sale home improvement expertise. About Curbio Curbio is the leading pay-at-closing contractor working with real estate agents to get homes ready for sale reliably and without hassle. Curbio has modernized home improvement with an easy-to-use mobile app and five-star project management team that streamlines project work and communication, while eliminating the delays and uncertainties that have made home improvement so frustrating, especially for agents and home sellers. Our turnkey approach and pay-when-you-sell model has made Curbio the most trusted contractor for real estate agents and brokerages nationwide, including eXp Realty, RE/MAX, HomeServices of America, Long & foster, and many more. Curbio operates in more than 60 real estate markets across the US.

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Real Estate Technology, Mortgage and Lending

FirstClose™ Equity Now Integrated with Encompass® by ICE Mortgage Technology®

PRnewswire | July 21, 2023

FirstClose, Inc., a leading fintech provider of data and workflow solutions for mortgage and home equity lenders nationwide, announced today that its home equity origination platform—FirstClose Equity— is now integrated with Encompass® by ICE Mortgage Technology®, part of ICE, a global data, technology and market infrastructure company that designs, builds and operates digital networks to connect people to opportunity. Through the new integration, Encompass users can seamlessly originate home equity lines of credit (HELOCs) and home equity loans (HELs) within their LOS and complete the application through closing process in as few as 10 days versus the industry average of 45 to 60 days. Encompass will continue to be the system of record because all data is secured through the LOS and stored there. Each call to action initiates a data map and an audit trail to Encompass. FirstClose's one-of-a-kind home equity solution reduces operational touchpoints to elevate the overall customer experience for borrowers. The solution also enables lenders to automate data collection, verification, and continue to order settlement services through FirstClose's existing order management module. "Home equity lending has become a go-to option for millions of homeowners and is expected to be a significant growth opportunity for the foreseeable future," said Tedd Smith, Chief Executive Officer at FirstClose. "Our integration with ICE Mortgage's platform will give Encompass users a simple, efficient way to either enter this market or to differentiate themselves by significantly improving the customer experience that they are offering." The end-to-end platform was built modularly so lenders can implement one, two or all modules based on the approach that's right for their organization. Point of Sale (POS): A private-label borrower-facing point-of-sale solution with a unique borrower experience – single sign on, workflow, and customized branding including domain that gives consumers instant online feedback on their home valuation, available home equity, loan options and delivers credit decisions in minutes. (Borrower eligibility is determined by the credit score and CLTV.) Borrower Portal: A borrower portal that lets consumers provide consents, upload needed documents, interact with originators, select loan terms, and draw amounts. In parallel, the portal's backend is iframed into Encompass, so loan originators never leave their LOS and are rewarded with a consistent process and streamlined functionality including title decisioning via the lenders' business rules and a credit decision that leverages EPPS and Encompass' Dynamic Data Management (DDM) to deliver findings in minutes. Order Management: Automated workflows, including triggers enable the ordering of settlement services such as flood, title, valuation and more. Closing: An option to support hybrid closings and recordings that are compliant with state regulations and lender guidelines. "Our best-of-breed technology dramatically accelerates decision-making and connects lenders to a broad network of preferred providers with one contract, one bill and one support team," said Craig Austin, Executive Vice President at FirstClose. "Lenders currently originating home equity products can onboard in as fast as 30 days; while new entrants can onboard in as fast as 60 days enabling lenders to pivot and capitalize on the current market which is a bright spot for our industry." About FirstClose Headquartered in Austin, Texas, FirstClose, Inc. provides fintech solutions to HELOC and mortgage lenders nationwide. The company's mission is to increase profitability and reduce cost for mortgage lenders. FirstClose makes this possible through offering systems and relationships that enable lenders to assist the lender's borrowers more effectively, reduce closing costs, and ultimately shorten closing times. About ICE Mortgage Technology ICE Mortgage Technology® is part of ICE, a global data, technology and market infrastructure company that designs, builds and operates digital networks to connect people to opportunity. Backed by ICE's global resources, we offer a truly differentiated digital platform that provides straight-through processing for a more comprehensive end-to-end workflow than any other provider in the market. We reach almost every mortgage in the U.S. by combining the native automation of Encompass® with the e-collaboration and e-recording capabilities of Simplifile®, along with the national electronic registry for nearly 90% of the U.S. mortgage market in MERS®. Ultimately, our technology enables people across the industry to focus on personal connections when they need it most, and support borrowers for a better journey of homeownership. About Intercontinental Exchange Intercontinental Exchange, Inc. is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

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