Camber, Partner Land $50M Loan for Bronx Supportive Housing

Multi-Housing News | January 03, 2020

Camber Property Group and Westhab have secured approximately $50 million in financing to build a supportive housing development in the Bronx. The project has already begun construction and is expected to be completed by late 2021. The $50 million development will be built at 913 E. Tremont Ave. in the West Farms neighborhood. When completed, the supportive housing building will offer 119 units with 60 percent of the apartments being reserved for formerly homeless residents and the rest designated for low-income individuals and families. Being a supportive and affordable housing building, the project received approximately $20 million of equity invested from the sale of low-income housing tax credits and $30 million in public subsidies from the New York State Housing Finance Agency and New York State Homes and Community Renewal, according to Camber.

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The three key players in the real estate industry are the consumer, the agent and the market center. See how our real estate tech platform connects the three and provides value to your business.

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The three key players in the real estate industry are the consumer, the agent and the market center. See how our real estate tech platform connects the three and provides value to your business.

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MARKET OUTLOOK

New Education Subscription Option for Residential Real Estate Agents The Residential Real Estate Council Launches

prnewswire | November 04, 2020

The Residential Real Estate Council reported the dispatch of another instruction membership program that permits more private realtors to profit by the Council's debut training. The COVID-19 pandemic is changing the manner in which the land business works. The program is a reaction to shifting necessities of specialists in getting schooling that is handily burned-through and promptly open, while not ailing in esteem. Training is the way to progress and the Council's point is to engage moral and proficient realtors at all stage so of their vocation. The schooling membership was planned with those specialists that are new to the business as a primary concern. The training membership is estimated at just $19.99/month. Every month private realtors will appreciate: A New Live Webinar on opportune subjects zeroed in on business development Boundless admittance to our honor winning magazine, The Residential Specialist Magazine, that centers around land patterns, best strategic policies, and bits of knowledge for what's to come Admittance to the Council's Marketing Toolkit with apparatuses and social resources for keep your customers and future clients educated and create mindfulness ABOUT RRC & CRS Designation The Residential Real Estate Council is the largest not-for-profit affiliate of the National Association of REALTORS® comprised of more than 28,000 members. The Council supports its members with advanced education, business and networking support. It also awards the CRS Designation to experienced agents who have completed advanced professional training and demonstrated outstanding professional achievement in residential real estate.

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REAL ESTATE TECHNOLOGY

Ira Zlotowitz Revolutionizing Commercial Mortgage Business with Launch of GPARENCY

GPARENCY | November 23, 2021

With an eye to the future of the commercial mortgage industry, Ira Zlotowitz, renowned for his success founding and leading Eastern Union, a national commercial mortgage brokerage company, today announced the launch of a new game-changing service, GPARENCY, to help clients go directly to the bank. GPARENCY is oversubscribed, raising the maximum of $15 million in venture-backed capital from over 125 real estate professionals and engaged strategic partners (including Customers Bank), the largest seed round in the commercial space, to fund this new approach to mortgage financing. Gauging both the core interests of the banks and the borrowers they serve, Zlotowitz formed GPARENCY to provide a new direct-to-bank formula for the mortgage business. This model empowers borrowers with transparency, technology, and professional services with expert touches from top real estate finance executives. "After studying the commercial mortgage market, we saw that 20% of borrowers exclusively use brokers, while 80% want to work directly with banks. Many think that broker fee structures for larger deals needed to be changed. This is exactly what we are doing at GPARENCY, Make no mistake, GPARENCY is the future of the mortgage industry. Today's commercial real estate investors are smarter, banks are more sophisticated, and full-scale, one-size fits all mortgage brokerage firms belong to the past. Our transparency, technology and flat fee pricing structure will empower and free the industry to reach their goals more efficiently and successfully than ever before" - Zlotowitz. In the future, GPARENCY will offer long-term plans for clients that will provide all data and tools directly to them through a subscription-based service called LANDSCAPE. This will allow clients to see maps with parcels showing public information, banking information, and access to all sales brokers in real time, making GPARENCY's differentiating technology client-facing. ABOUT GPARENCY  GPARENCY is revolutionizing the commercial mortgage industry. Through radical transparency and a tech-forward process, GPARENCY puts borrowers in the driver's seat so they can direct their own mortgage, access lenders directly, hire professionals by the hour, and Take it to the bank™. Out with the mystery and the inflated commissions. In with the clarity, transparency, and control.

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REAL ESTATE TECHNOLOGY

New Industrial Real Estate Joint Venture for NPS and Stockbridge

businesswire | December 03, 2020

Stockbridge declared today that it has shaped a joint endeavor with the National Pension Service of Korea ("NPS") to gain center coordinations properties in the U.S. In association with Stockbridge's open-end center asset and an extra institutional financial specialist, this recently framed endeavor has resolved to get a 14.3-million square foot arrangement of Class A coordinations offices over the U.S.— the biggest exchange by estimation of modern properties since the beginning of the pandemic. Monetary terms of the exchange and the vender were not revealed. The portfolio incorporates as of late finished and destined to-be-finished properties, with a critical portrayal of significant web based business inhabitants under long haul leases. With a normal year worked of 2020, the portfolio epitomizes the most recent advancement in innovation forward coordinations development, planned towards satisfying need for ever-quicker online business satisfaction and conveyance times. “We are excited to acquire high-quality industrial properties that are well aligned with our strategy to capitalize on the paradigm shift to e-commerce,” said Scott Kim, Head of the Real Estate Investment Division at NPS. “This acquisition will be an excellent addition to our real estate portfolio. Additionally, our local presence in New York has allowed us to quickly underwrite the portfolio and manage partner relationships to successfully form this venture.” “We see this acquisition as an exceptional way of tapping into the rapid acceleration of e-commerce growth—one of the most impactful investment themes post-COVID, and likely of the decade to come,” said Terry Fancher, Stockbridge Executive Managing Director. “The tremendous ongoing support of our venture partners has afforded us the opportunity to transact quickly and nimbly in order to access these kinds of rare opportunities at scale.” “This is an extraordinary-quality core portfolio considering its modern construction, high-credit and e-commerce tenant base, and long-term leases,” added Nicole Stagnaro, Stockbridge Managing Director. “It’s difficult to find better cash-flow visibility across private equity real estate today, particularly in a period of broad market uncertainty.” The exchange is Stockbridge's third huge scope portfolio procurement in the modern area in the previous 16 months. Other late buys remember a 8.7-million-square-foot portfolio for November 2019 and a 6.4-million-square-foot portfolio in August 2019. The firm has likewise been exceptionally dynamic in single-resource mechanical acquisitions all through 2020. Joined with the latest exchange, Stockbridge's developing mechanical impression is on target to outperform 55 million square feet.

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