Cherre and DealStat Announce Partnership to Integrate Unstructured Data into Real Estate Data Platform

Cherre | June 26, 2020

Cherre and DealStat Announce Partnership to Integrate Unstructured Data into Real Estate Data Platform
Cherre, the NYC-based real estate data and analytics platform, today announced a new data partnership with DealStat, the real estate industry's AI platform for extracting data from highly unstructured sources. This partnership will enable mutual customers to leverage AI to extract data from source documentation and PDFs, and integrate it into Cherre's data platform. By capturing unstructured data, customers can pull static information into a structured data platform to run historical and trend analysis and make better decisions.

Spotlight

Differences in household demographics and affordable financing options spur homebuying demand for young active-service military members, causing them to significantly outpace the share of non-military homebuyers under the age of 35

Spotlight

Differences in household demographics and affordable financing options spur homebuying demand for young active-service military members, causing them to significantly outpace the share of non-military homebuyers under the age of 35

Related News

Real Estate Brokerage Torii Announces Release of "Swiper" Search for Home Buying

Torii | July 13, 2020

Torii, Inc., a technology company and real estate brokerage serving the Greater Boston area and the San Francisco Bay Area, today announced the newest release of its popular "swiper" technology in its app (free on iOS and Android) and on web. Torii's real estate listings search allows prospective home buyers to discover houses like no other real estate service, letting users swipe right to "favorite" a house listing and swipe left to "block" a listing (or remove it from search results). Users of popular dating apps will feel at home with the swiping feature. According to recent research from the National Association of Realtors, the majority of home buyers find the home they will purchase online or via an app, and say that finding the right property is the most difficult part of the buying process. With Torii, after swiping through listings, buyers will begin to see more recommended properties based on their interests, saving them valuable time.

Read More

INVESTMENTS

Capital Square 1031 Acquires Luxury, Mixed-Use, Class A Multifamily Community in Fast-Growing Submarket of Jacksonville, Florida

Capital Square | January 25, 2022

Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced today the acquisition of a 10-story, luxury, mixed-use, Class A multifamily community in Jacksonville, Florida. The community was acquired on behalf of CS1031 Vista Brooklyn Apartments, DST. Vista Brooklyn Apartments is an excellent acquisition for Capital Square's 1031/DST program, Jacksonville is ranked number one in Florida for multifamily rent growth, with 17.4% year-over-year rent growth during the second quarter of 2021.1 It is hard to imagine a better market for stable income and capital appreciation." Louis Rogers, founder and chief executive officer of Capital Square. Located at 200 Riverside Ave., Vista Brooklyn features 308 units and 12,685 square feet of ground-floor retail space. Completed in 2021, the community is situated one mile southwest of downtown Jacksonville on the banks of the St. Johns River and within Jacksonville's historic and fast-growing Brooklyn/Riverside submarket, according to Yardi Matrix. The community offers one-, two- and three-bedroom units with high-end finishes, including fully equipped GE kitchens with quartz countertops, custom cabinets, subway tile kitchen backsplashes and more. Amenities at the community include a rooftop beer garden, a rooftop pool deck with a heated saltwater pool and outdoor grills, co-working and meeting spaces with pre-installed televisions for device connectivity, a top-floor clubroom with a gaming area and outdoor access, a secure package delivery room and a coffee bar. Additional amenities include a bicycle storage room, a meditation room with Somadome meditation pods, a fitness center with Technogym equipment, a spin suite and Wellbeats on-demand workout classes, a dog park and pet grooming room, and a courtyard with lounges, grilling stations, a dining area and outdoor games. CS1031 Vista Brooklyn Apartments, DST seeks to raise $63.7 million in equity from accredited investors and has a minimum investment requirement of $50,000. Vista Brooklyn is located in one of the premier submarkets within the Jacksonville MSA, Within walking distance to many restaurants and points of interest, and situated one mile from downtown Jacksonville, the community is highly attractive to millennials and residents looking for a walkable lifestyle. In fact, Vista Brooklyn's zip code houses one of the fastest-growing millennial populations in the United States, according to Yardi Matrix." Whitson Huffman, chief strategy and investment officer. Since its founding in 2012, Capital Square has acquired 145 real estate assets for over 3,800 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable cash flow and capital appreciation. About Capital Square Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges and qualified opportunity zone funds for tax deferral and exclusion. Since 2012, Capital Square has completed more than $4.2 billion in transaction volume. Capital Square's executive team has decades of experience in real estate investments. Its founder, Louis Rogers, has structured hundreds of investment offerings totaling in excess of $5 billion. Capital Square's related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high net worth investors, private equity firms, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for five consecutive years. Additionally, in 2021, the company was ranked 101st on the list of Inc. 5000 Washington D.C. Metro's Fastest-Growing Private Companies. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense's list of fastest growing companies. Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" report in 2019 and 2021 as well as on their "Fantastic 50" reports in 2019 and 2020.

Read More

INVESTMENTS

Columbia Property Trust to Be Acquired by Funds Managed by Pacific Investment Management Company LLC in a $3.9 Billion Transaction

Columbia Property Trust, Inc. | September 07, 2021

Columbia Property Trust, Inc.announced that it has entered into a definitive agreement to be acquired by funds managed by Pacific Investment Management Company LLC, one of the world’s premier global investment management firms, for $3.9 billion including Columbia’s proportionate share of consolidated and unconsolidated debt. Under the terms of the agreement, which has been unanimously approved by Columbia’s Board of Directors, PIMCO will acquire all of the outstanding shares of Columbia common stock for $19.30 per share in cash. This represents a premium of approximately 27% over Columbia’s unaffected closing share price on Friday, March 12, 2021. During this time period the high barrier office sector has traded down 5%. This transaction with PIMCO is the culmination of a comprehensive strategic review process undertaken by Columbia’s Board of Directors which was publicly announced in the spring of this year. As part of this process, Columbia’s Board and advisors invited nearly 90 potential counterparties to participate, including strategic acquirers, private equity firms and other investment management firms. Constance Moore, Chair of the Columbia Board of Directors, said, “The Board of Directors is pleased to have reached this definitive agreement with PIMCO. This transaction provides Columbia shareholders with immediate and certain cash value at a significant premium to the Company’s public market valuation, and we are confident it represents the best outcome for all Columbia shareholders.” “We continue to believe that high-quality office buildings in major U.S. cities offer long-term value for our clients and Columbia has assembled a modernized, well-located portfolio of assets that we expect will perform well in the years ahead,” said John Murray, PIMCO Global Head of Private Commercial Real Estate. Francois Trausch, PIMCO Managing Director and Chief Executive Officer of Allianz Real Estate, added, “This is an exciting transaction and a great example of the strength of relationships within PIMCO’s global real estate platform.” The transaction is expected to close as early as year-end, subject to approval by Columbia’s shareholders and the satisfaction of other customary closing conditions. Upon completion of the transaction, Columbia’s common stock will no longer be listed on the New York Stock Exchange. Columbia shareholders will be entitled to receive the previously announced third quarter dividend of $0.21 per share payable on September 15, 2021. Thereafter, Columbia will not pay additional quarterly dividends during the pendency of the transaction. Due to the pending acquisition, Columbia will not be holding a conference call for its third quarter 2021 business results after it releases earnings information. Morgan Stanley & Co. LLC is serving as lead financial advisor to Columbia and Wachtell, Lipton, Rosen & Katz is serving as legal advisor. Eastdil Secured LLC and J.P. Morgan are also acting as financial advisors to Columbia. Goldman Sachs & Co. LLC is serving as lead financial advisor to PIMCO and Latham & Watkins LLP and Milbank LLP are serving as legal advisors. Deutsche Bank Securities Inc. is also acting as a financial advisor to PIMCO. Cushman & Wakefield is acting as a real estate consultant to PIMCO. About Columbia Columbia creates value through owning, operating, and developing storied properties for legendary companies in New York, San Francisco, Washington D.C., and Boston. The Columbia team is deeply experienced in transactions, asset management and repositioning, leasing, development, and property management. It employs these competencies to grow value across its high-quality, well-leased office portfolio of 15 properties that contain more than six million rentable square feet, as well as four properties under development, and also has more than eight million square feet under management for private investors and third parties. Columbia has investment-grade ratings from both Moody’s and S&P Global Ratings. About PIMCO PIMCO is one of the world’s premier fixed income investment managers. With its launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the 50 years since, it has continued to bring innovation and expertise to its partnership with clients seeking the best investment solutions. Since launching its first opportunistic credit vehicles over 15 years ago, PIMCO has significantly expanded in alternative credit and private markets. The firm invests globally across commercial and residential real estate equity and credit, performing and distressed corporate credit, and specialty finance markets – actively managing investments across the capital structure. In 2020, PIMCO and Allianz Real Estate combined their commercial real estate platforms, making it one of the largest in the world. On a combined basis, PIMCO manages over $180 billion in commercial real estate assets globally. Today PIMCO has offices across the globe and professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.

Read More