Brookfield Global Integrated Solutions Acquires SNC-Lavalin's Canadian Real Estate Facilities Management Business

  | June 30, 2016

Brookfield Global Integrated Solutions (Brookfield GIS), a leading global real estate facility management provider announced today that it is acquiring SNC-Lavalin Group Inc.'s

Spotlight

As of October 1st 2015 the closing process will go through some major changes. On said date, the CFPB’s Integrated
Mortgage Disclosure rule will go into effect. This will mean a couple of things for Real Estate agents:A new Loan Estimate document will replace the Good Faith Estimate (GFE) and the early Truth-in-Lending (TIL) disclosure.A new Closing Disclosure document will replace the HUD- 1, and the Final Truth-in-Lending (TIL) disclosure.

Spotlight

As of October 1st 2015 the closing process will go through some major changes. On said date, the CFPB’s Integrated
Mortgage Disclosure rule will go into effect. This will mean a couple of things for Real Estate agents:A new Loan Estimate document will replace the Good Faith Estimate (GFE) and the early Truth-in-Lending (TIL) disclosure.A new Closing Disclosure document will replace the HUD- 1, and the Final Truth-in-Lending (TIL) disclosure.

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REAL ESTATE TECHNOLOGY

LightBox Unveils New Developer Portal for API Access and Connected Data

LightBox | July 13, 2022

LightBox, a leading information and technology platform for commercial real estate and location-based intelligence, announced the launch of the LightBox Data Platform. The platform serves as the most complete, connected data solution in the market bringing together third-party, public and customer data with LightBox proprietary content in a consistent data model for straightforward onboarding and integration. Clients can now use the newly launched Developer Portal to discover and connect to the full breadth and depth of LightBox data using a unified API and the LightBox ID, a permanent identifier that creates powerful connections to LightBox’s information model and allows users to easily identify relationships across LightBox’s property graph. LightBox’s expanding suite of APIs, data solutions and professional service offerings provide companies the flexibility to determine what solutions scale best to enable businesses and industries to make strategically sound decisions in broadband modeling, site selection, property research, portfolio management, risk analysis and more. LightBox SmartFabric™ will serve as the foundational dataset for the platform. SmartFabric brings together geospatial and non-geospatial datasets in a proprietary connected model. It provides customers with the insights and relationships across LightBox’s core parcel, building footprints, addressing, property characteristics, transactions, and other datasets for a complete view of a property. “The LightBox Data Platform builds on our strong data management capabilities and demonstrates the openness and connectivity we need to develop as an industry, The demand for data remains unabated, clients continue to look for a competitive edge through data, and we are innovating to meet the demand. Our new APIs coupled with LightBox’s identifier and geocoder provides customers with the connected data solution that they are looking for.” -Eric Frank, Chief Executive Officer at LightBox. The real estate industry’s desire to access and append more data has been growing at an exponential rate. Data management is a difficult process in the era of big data and a one size approach does not fit all, said Adam Cardarelli, Vice President of Product Management at LightBox. Users need the technological components to access and manage data according to their own specifications. The LightBox Data Platform will consistently deliver a diverse body of APIs and data in a usable fashion. It will meet the needs of everybody in the industry—buyers, sellers, lenders, appraisers, environmental professionals, and more—who can scale it according to need. LightBox’s APIs are now available through the LightBox Developer Portal allowing users to explore the catalog, discover new solutions, access sample code, and connect with other LightBox users in forums to gain input and insight about their business challenges. Developers will be able to discover LightBox APIs and LightBox data, with enough documentation and samples to put the system to immediate use however they require. The portal features over 75 endpoints with more being continuously added. About LightBox- LightBox is a leading real estate information and technology platform. Through operational excellence and a passion for innovation, LightBox facilitates transparency, efficiency, insight, and prediction for real estate investment and location analytics. LightBox customers include commercial and government agencies requiring definitive real estate data and powerful workflow solutions, including brokers, developers, investors, lenders, insurers, technology providers, environmental consultants, and valuation professionals. LightBox is backed by Silver Lake and Battery Ventures.

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REAL ESTATE TECHNOLOGY

HINES ANNOUNCES LAUNCH OF TAX-ADVANTAGED PLATFORM

Hines | September 21, 2022

Hines, the global real estate investment, development, and property manager, announced today the launch of Hines Real Estate Exchange (HREX), a platform designed to serve qualified investors interested in tax-advantaged investment opportunities. The platform intends to make 1031 exchange opportunities available to investors in the form of interests in Delaware Statutory Trusts (DSTs) holding assets sourced from Hines Global Income Trust (HGIT). HGIT will have an option to acquire the properties held by the DSTs. The HREX platform is intended to provide participants with a solution to aid in the deferment of capital gains and other taxes while providing them with the opportunity to diversify real estate holdings through the ownership of institutional-grade assets. "Hines Real Estate Exchange is a natural progression for the firm, Given the strong market demand for 1031 exchange products and Hines' vast experience and expertise as sponsor of HGIT, we believe the time is right to launch this initiative." -Alfonso Munk, CIO of the Americas and president of HGIT Many exchangers are eager to capitalize on existing pricing environments. A growing number of financial professionals are requesting DSTs to offer their clients tax-advantaged solutions on their platforms, said Mark Earley, CEO of Hines Securities, Inc. HGIT features a $3.8 billion portfolio of commercial real estate investments that is nearly two- thirds weighted toward the industrial and living sectors. HGIT is diversified by geography and real estate sectors, with a focus on stable assets with strong long-term income potential. About Hines Global Income Trust Hines Global Income Trust, Inc. is a public, non-listed real estate investment trust sponsored by Hines. It commenced operations in 2014 and invests in commercial real estate investments located in the United States and internationally. About Hines Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 285 cities in 28 countries. Hines oversees investment assets under management totaling approximately $90.3 billion¹. In addition, Hines provides third-party property-level services to 373 properties totaling 114.2 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,530 properties, totaling over 511 million square feet. The firm currently has more than 198 developments underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world.

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REAL ESTATE TECHNOLOGY

Scores of Pandemic Homebuyers Purchased Vacation Homes With High Natural-Disaster Risk

Redfin | July 06, 2022

In 2020 and 2021, purchases of second homes with high flood risk rose 45% from the prior two-year period (2018-2019), according to a new analysis of ClimateCheck data from Redfin (redfin.com), the technology-powered real estate brokerage. There were also significant increases in purchases of second homes with high storm risk (40%) and high heat risk (39%). Demand for second homes surged during the pandemic as low mortgage rates, remote work and the desire to escape the city drove up demand for vacation properties. Overall, purchases of second homes were up 37% higher in 2020 and 2021 compared with 2018 and 2019. Demand has since fallen back below pre-pandemic levels as life has returned somewhat to normal, but many Americans now own at-risk second homes, which has implications for the future. “The threat of climate change isn’t the top concern for a lot of homebuyers, which means they often prioritize factors like warm weather and proximity to the beach over avoiding natural-disaster risk. Second-home owners, in particular, have another place to live if disaster strikes—another reason climate danger may not feel like a pressing issue, But house hunters should be aware that purchasing in a disaster-prone area not only puts them and their home at risk, but their finances as well. Home values in climate-endangered places may fall in the coming years as consumers learn more about the risks to properties in these areas.” Redfin Senior Economist Sheharyar Bokhari A recent Redfin analysis found that more people have been moving into than out of the U.S. counties with the largest share of homes at high risk from natural disasters. That’s partly because some buyers just aren’t aware of the risks. Redfin.com now publishes climate-risk data for nearly every U.S. home, with the exception of rental listings, to help house hunters make more informed decisions. “House hunters from out of town ask about climate change because they’re very concerned about flooding, but most of them don’t change their minds,” said Miami Redfin agent Cristina Llanos. “They hear horror stories of hurricanes, but generally still move forward. People want to talk about it but it typically doesn’t make or break their decision.” Heat and Storm Are Most Common Risks Second-Home Buyers Face Overall, heat is the most common risk facing second-home buyers—nearly all (94%) of second homes purchased in the past two years face high heat risk. Next comes high storm risk, which plagues more than three-quarters (78%) of second homes bought in the past two years, followed by high flood risk (26%), high fire risk (23%) and high drought risk (21%). Many popular second-home destinations, like Florida and Arizona, face significant heat and/or storm risk. The most popular destinations for homebuyers looking to relocate are Miami, Tampa and Phoenix, which attracted scores of affluent out-of-towners in search of vacation homes during the pandemic. About Redfin Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.

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