Cherre and Near Space Labs Announce Partnership to Combine High Frequency Stratospheric Imaging into Real Estate Data Platform

Cherre, the NYC-based real estate data and analytics platform, today announced a new partnership with Near Space Labs, the leading provider of high frequency geospatial imagery. In this partnership, Cherre will integrate Near Space Labs' technology within their data platform, enabling mutual customers to leverage real estate geospatial imaging capabilities when analyzing opportunities or making investment decisions. Near Space Labs provides a scalable platform to deliver unprecedented high resolution, high frequency imagery of large economic hubs and high valued assets nationwide. Real estate customers are able to subscribe to a continuously updated imagery feed of their properties without needing to task an airplane or send a drone. Near Space Labs obtains, processes, and delivers the data at a fraction of the cost of other providers.

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AirDNA Acquires Uplisting, Setting New Standards in Short-Term Rental Intelligence and Management

PR Newswire | January 10, 2024

AirDNA, a leading short-term rental (STR) data provider, announced today the acquisition of vacation rental software and channel management system Uplisting. This acquisition marks a pivotal leap in AirDNA's mission to provide a comprehensive, one-stop solution for those investing in and operating short-term rental properties. Demi Horvat, CEO of AirDNA, shares the vision behind the acquisition: "Merging Uplisting's first-class property management tools with our unparalleled market insights will create holistic, tailored solutions for all STR stakeholders, from aspiring hosts to large professional managers. This integration equips users with robust tools for every step on their journey, from research and investment to set-up and ongoing optimization of their properties." Uplisting, an Airbnb Preferred Plus software partner, is a powerhouse for effectively managing and synchronizing STR listings on key platforms like Airbnb, Vrbo, and Booking.com. Its automation of critical tasks like real-time booking updates and guest communication has made it indispensable in optimizing the operations of vacation rental hosts and property managers globally. In 2023 alone, Uplisting processed an estimated $400 million in bookings, empowering users with reliable technology tools that catalyze growth. Vincent Breslin, Founder of Uplisting, commented: "Joining forces with AirDNA opens up a realm of possibilities for the vacation rental market. With our combined wealth of expertise, we are poised to redefine industry standards, driving innovation and delivering enhanced value to all our clients." In another decisive move to strengthen its commitment to STR hosts, AirDNA is introducing a new Dynamic Pricing feature that automatically syncs AirDNA's Smart Rates™ to Airbnb. This much-requested functionality empowers users to maximize booking revenues, drawing on extensive data from millions of listings on Airbnb and Vrbo to provide effective pricing recommendations. "Dynamic Pricing makes it easier for busy STR hosts to set their rates by automatically analyzing market and competitor trends. This ensures the best prices are delivered in real-time to their Airbnb listings, eliminating guesswork and manual adjustments. With our focus on building easy-to-use tools for hosts and Uplisting's comprehensive suite for bookings, operations, guest communication, and beyond, we're bringing professional tools within reach of everyone," said Horvat. Following AirDNA's acquisition of Arrivalist in July 2023, these strategic milestones showcase AirDNA's dynamic expansion under the umbrella of predictis, a family of software-enabled data businesses, and a portfolio company of Alpine Investors. "With this second acquisition in just six months, AirDNA is poised for continued growth and innovation, and with more developments in the pipeline, it is well positioned to expand its leadership position at the forefront of the short-term rental industry," remarked Jean-Marc Levy, CEO of predictis. FOCUS Capital Partners Ireland served as the financial advisor to Uplisting. About AirDNA AirDNA is a global authority in short-term rental data, offering comprehensive insights and analytics to empower businesses in the short-term rental industry. AirDNA helps vacation rental hosts, managers, and investors make smarter decisions in any market or economic climate. For every short-term rental question, AirDNA has the answer. About Uplisting Uplisting is an all-in-one vacation rental and channel management software that allows short-term rental property managers and owners to manage bookings, message guests, and automate their daily tasks across multiple listing sites, including Airbnb, Vrbo, and Booking.com. Designed to fuel growth, it offers flexible, powerful, and reliable technology tools that revolutionize the way owners operate. As a testament to its excellence, Uplisting is recognized as a top 10 Airbnb software partner and distinguishes itself in the property management software sector with an impressive 4.8/5 score on G2.

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Real Estate Investment

Pennington Partners & Co. Announces Launch of Real Estate Investment Vertical

PR Newswire | January 04, 2024

Pennington Partners & Co., a multi-family investment office that specializes in working with entrepreneurs, CEOs / founders, and their families, has announced the launch of Pennington Real Estate Partners (PREP). The new vertical will make direct investments in residential and commercial real estate across the United States, providing new and existing Pennington clients with proprietary real estate investment expertise. The new offering will focus on tax-advantaged investing including Opportunity Zones, structured equity, and senior secured lending given emerging opportunities in the existing marketplace. The launch represents an expansion of the Pennington team with the addition of Taylor Coe and Alex Rongione. Both come from distinguished careers in institutional real estate investment management, most recently at Walker & Dunlop Investment Partners, and will join the firm as Managing Directors and members of the PREP Investment Committee. As leaders of Pennington Real Estate Partners, Coe and Rongione will each be responsible for designing investment strategies, sourcing opportunities, executing business plans, and realizing investments. Additional information and bios can be found below. "Pennington Real Estate Partners opens the door to many new opportunities for our clients," noted Brian Gaister, co-founder and CEO of Pennington Partners. "We have expanded our in-house real estate investment expertise that will allow us to capitalize on investment opportunities throughout the United States. We are incredibly honored to have Taylor and Alex join us to lead this new endeavor. Both bring significant experience that will be essential in uncovering and navigating new investments." The launch of Pennington Real Estate Partners comes on the heels of notable growth and expansion for Pennington Partners. The firm closes out the year with more than 100% growth in assets under management, the launch of a new offering in private equity, and has been recognized in numerous industry accolades. "We're thrilled to be joining forces with a top-tier firm like Pennington, where we can add commercial real estate and associated structured finance to the array of opportunities available to our advisory families," added Coe and Rongione. About Taylor Coe and Alex Rongione Taylor Coe joins Pennington Real Estate Partners as a Managing Director and member of the PREP Investment Committee. Prior to joining Pennington, Taylor was on the equity investment team at Walker & Dunlop Investment Partners ("WDIP"), a middle-market real estate investment platform with over $6.1 billion of assets under management as of his time of departure. At WDIP, Taylor was responsible for closing investments with a total capitalization in excess of $1.3 billion. Taylor is also the founder of Sunshine Peak Partners, a boutique investment management firm, and is a graduate of the University of Colorado. Alex Rongione joins Pennington Real Estate Partners as a Managing Director and member of the PREP Investment Committee. Prior to joining Pennington, Alex was also on the equity investment team at Walker & Dunlop. He contributed to all aspects of the investment process including but not limited to capital raising, strategy, origination, and execution. At WDIP Alex was responsible for closing investments with a total capitalization in excess of $1.7 billion. Alex is a CFA charter holder, a NAIOP Developing Leader, and a graduate of the University of Pittsburgh. About Pennington Partners & Co. Originally founded to serve the needs of the two founding families who have built and sold companies in various industries, Pennington Partners & Co.'s mission is to elevate the lives of highly successful entrepreneurial founders and their families. We provide a breadth of investment, wealth planning, and personal financial administration solutions that were created by and for founders, CEOs, wealth creators, and multi-generational families. We partner with successful families and their advisors by providing objective advice, strategy, sophisticated investment solutions, and family office services to generate meaningfully higher efficiency while maintaining the intimacy of a single-family office. In short, our vision is to transform the landscape of financial advice for families of complex wealth, in order to deliver better outcomes.

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Real Estate Investment

Cohen & Steers Launches Real Assets Compass to Help Financial Advisors Build Better Portfolios with Real Estate

PR Newswire | January 11, 2024

Cohen & Steers, Inc. announced today the launch of the Real Assets Compass, an interactive tool focused on real estate allocations designed to help financial advisors and institutional investors improve portfolio risk-return profiles. Using the firm's Capital Market Assumptions for the next 10 years and 30 years of historical data, the Real Assets Compass ("the Compass") compares historical and expected returns and volatility of traditional portfolios of only stocks and bonds with those of a more diversified portfolio of stocks, bonds and listed and private real estate. Cohen & Steers believes that many investors are under-allocated to real estate despite the well-documented benefits of the asset class, including its strong performance and potential to enhance risk-adjusted returns. These investors include those across a range of profiles, from self-directed investors to those investing with financial advisors or family offices. Cohen & Steers' analysis, utilized in the Real Assets Compass, suggests that adding real estate to an investor's portfolio of stocks and bonds can improve its total return and risk-reward profile. The Compass can help advisors demonstrate the impacts of adding real estate to a portfolio and address client questions about allocating to real estate. The potential benefits of a real estate allocation apply to an array of investor styles, ranging from those more conservative seeking income or lower risk to those seeking growth or higher returns. Joe Harvey, Chief Executive Officer & President, said: "The Real Assets Compass is the latest example of Cohen & Steers' commitment to innovation and providing advisors with the tools necessary to build better portfolios and educate clients around the benefits of private and listed real estate allocations." The Cohen & Steers Real Assets Compass will enable financial advisors to: Build customized investment profiles based on general risk tolerance, investment objective and portfolio size View a portfolio allocation with both listed and private real estate based on that profile Adjust the total real estate allocation and the mix between listed and private real estate Forecast the impact of an allocation to real estate on the risk/return profile of a portfolio through a clear comparison to a traditional stock/bond portfolio View resulting 10-year expected portfolio growth in dollars and quantitative performance and risk metrics, as well as the past-30-year return profile Download easy-to-understand reports to review with clients Jon Cheigh, Chief Investment Officer, said: "We believe real estate should be a strategic, long-term allocation for most investors. Yet too few investors recognize that allocations to real estate can deliver strong absolute and relative returns at lower risk. As a result, we created our Real Estate Advisory Services, which aim to help institutional clients allocate to listed and private real estate based on where we are in the market cycle. These capabilities, along with the Real Assets Compass, will play an instrumental role in Cohen & Steers' work to close the education gap that exists in investors' understanding of the power of real estate allocations." The launch of the Real Assets Compass follows the appointments of Rich Hill as Head of Real Estate Strategy and Research in September 2022 and Jeff Palma as Head of Multi-Asset Solutions in November 2021, to grow Cohen & Steers' portfolio allocation and research capabilities. The Compass tool can be used by institutional investors in conjunction with the portfolio allocation and real estate strategy insights produced by the firm. About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.

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