Catalyst Capital Management, LLC Launches Florida Focused Opportunistic Real Estate Fund

Catalyst Capital Management, LLC | November 05, 2019

Catalyst Capital Management, LLC (Catalyst) today announced the launch of its new real estate private equity fund, Catalyst Capital Fund, LLC (the "Fund"). The Fund is taking a direct aim at the shortage of quality, affordable workforce housing in Florida's fastest growing counties, where demand is high but affordable housing stock is limited due to historically low housing starts and prohibitively high costs of land and construction. The Catalyst Capital Fund is uniquely positioned to take advantage of opportunistic residential assets and execute its social impact strategy to create jobs, improve target zoned neighborhoods and to generate strong risk adjusted returns for our Investors.

Spotlight

Welcome to the Wabasha floor plan. This beautiful home includes; four spacious bedrooms, with the master and 3 additional bedrooms all located on the upper level, four bathrooms, a private study, a formal dining room, and a generous great room with an optional fireplace

Spotlight

Welcome to the Wabasha floor plan. This beautiful home includes; four spacious bedrooms, with the master and 3 additional bedrooms all located on the upper level, four bathrooms, a private study, a formal dining room, and a generous great room with an optional fireplace

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REAL ESTATE INVESTMENT

Kimco Realty® Expands Presence in New York Market with Acquisition of Long Island Open-Air Grocery Anchored Portfolio

Kimco Realty | November 14, 2022

Kimco Realty® (NYSE: KIM), North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, and a growing portfolio of mixed-use assets, today announced it acquired a private, multi-generationally-owned portfolio of eight Long Island, NY shopping centers for $375.8 million. The acquisition was funded by the issuance of a combination of cash and redeemable units and the assumption of $88.8 million of 4.1% mortgage debt with a remaining term of approximately six years. As of September 30, 2022, the company had $123.5 million in cash and cash equivalents on its balance sheet and subsequently received approximately $301.1 million of proceeds from the sale of 11.5 million shares of its Albertsons common shares. These eight high-quality centers are located in one of the most desirable markets in the United States and within a drive time of approximately 15 minutes from Kimco’s corporate headquarters in Jericho, NY. The ultra-infill markets of Long Island are high barrier to entry and offer a highly captive consumer base boasting some of the best demographic profiles in the country. The portfolio, which boasts a three-mile estimated population and average household income of 95,000 and $187,000, respectively, is 94.4% leased with significant mark-to-market and merchandising enhancement opportunities. The portfolio, which includes The Gardens at Great Neck, Woodbury Common, The Market Place, Stop & Shop Shopping Center, Southgate Shopping Center, Green Cove Plaza and Syosset Corners in Nassau County, and Sequams Shopping Center in Suffolk County, features five grocery anchored centers and a strong collection of necessity-based tenants and retailers offering everyday goods and services. Tenants include TJMaxx, GoHealth Urgent Care, Rite Aid, Starbucks, Dunkin’ Donuts, and Chipotle. “This acquisition was a rare chance to expand our presence in one of Kimco’s most highly desired markets, with a portfolio of irreplaceable real estate located in one of the most heavily trafficked, densely populated, suburbs that offers high barriers to entry and affluent communities, The strength of our balance sheet, ample liquidity and ability to provide a tax efficient transaction for the seller put us in a prime position to be opportunistic when this multi-generational portfolio emerged. The acquisition also brings us closer to our target of 85% of the company’s annual base rent coming from grocery anchored centers.” -Conor Flynn, Kimco’s Chief Executive Officer At the end of September 2022, Kimco Realty owned 28 centers totaling 3.0 million square feet with an average occupancy rate of 97.8% in the dominant Long Island market. The addition of this eight-property portfolio, which comprises 540,000 square feet of retail space, will further Kimco’s position as one of Long Island’s largest owners of grocery-anchored shopping centers with 36 assets totaling over 3.5 million square feet. About Kimco Realty® Kimco Realty® (NYSE:KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, including mixed-use assets. The company’s portfolio is primarily concentrated in the first-ring suburbs of the top major metropolitan markets, including those in high-barrier-to-entry coastal markets and rapidly expanding Sun Belt cities, with a tenant mix focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Kimco Realty is also committed to leadership in environmental, social and governance (ESG) issues and is a recognized industry leader in these areas. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value enhancing redevelopment activities for more than 60 years. As of September 30, 2022, the company owned interests in 526 U.S. shopping centers and mixed-use assets comprising 91 million square feet of gross leasable space.

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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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MARKET OUTLOOK, REAL ESTATE ADVICE

Curbio Recognized for Exemplary Workplace Environment with Three Comparably Awards

Curbio | October 07, 2022

Curbio, Inc., the leading fix now, pay when you sell home improvement solution for real estate agents, brokers and their listing clients, today announced recognition from workplace culture site Comparably for its exemplary workplace environment. Curbio was selected out of 70,000 companies in three of this quarter's categories including Happiest Employees, Best Company Compensation and Best Company Perks & Benefits. Comparably awards are based on anonymous employee feedback submitted to Comparably.com within a 12-month period. Rankings were determined based on a combination of factors that contribute to employee happiness at work, including a positive work environment, satisfaction with total compensation package, satisfaction with perks and benefits, and pride in company. "It makes me incredibly proud to see Curbio being recognized by Comparably, because these rankings are based entirely on employee feedback. Curbio has always been an employee-first company. Our employees are passionate and excited by their job and Curbio's mission, and we really value and care for our employees, Knowing that our employees are feeling happy at work, and satisfied with their compensation and benefits packages, means everything to Curbio's leadership team." -Rick Rudman, CEO of Curbio This is far from the first time that Curbio has been recognized for its exemplary company culture. The company has been certified as a Great Place to Work®, was named a best place to work in Washington, D.C. by Comparably, a Next Gen 100 workplace by RippleMatch and a Top 5000 fastest-growing company in America by Inc. Magazine. Curbio CEO Rick Rudman was named a Best CEO by Comparably, and a Real Estate Newsmaker by RISMedia. Curbio has also been continuously recognized for its success as a tech-powered home improvement solution, receiving nods in HousingWire, Qualified Remodeler and Best in Biz, to name a few. About Curbio Curbio was founded in 2017 to transform the multi-billion-dollar home improvement industry and has quickly become the nation's leading pay-at-closing home improvement solution. The company partners exclusively with real estate agents and their clients to get any home ready for the market, allowing it to sell faster and for top dollar. Using technology to power their service, Curbio completes pre-listing home improvement projects of any size quickly and without hassle, from start to finish, with zero payment due until the home sells. Curbio is trusted by thousands of realtors and brokerages nationwide, and has been continuously recognized for its exemplary solution, receiving nods in HousingWire, Qualified Remodeler and Comparably, to name a few.

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