REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Businesswire | April 11, 2023
Pagaya Technologies Ltd. (NASDAQ: PGY) ("Pagaya"), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, with GIC, one of the world’s leading global institutional investors, announced today that they have strengthened their strategic partnership. GIC and Pagaya extended their existing funding agreement earlier this week, by which GIC invests in the Company’s financing vehicles, for an additional 3 years on top of the original 5-year term, on the same terms as the existing agreement. Additionally, last week, GIC increased its holding of PGY Class A ordinary shares to approximately 9% of Pagaya’s outstanding Class A shares as of March 31, 2023.
GIC is one of Pagaya’s top shareholders and has supported Pagaya’s ability to deliver a comprehensive, one-stop solution for institutional investors to invest at scale in consumer credit and real estate assets originated by more than 25 financial institutions and growing.
Pagaya is at the forefront of leveraging AI and advanced analytics to differentiate in a highly competitive environment and both GIC and Pagaya believe that building smarter financial infrastructure leads to better, more inclusive asset selection. At a time when liquidity is scarce, AI ensures the delivery of high-quality investments at scale.
“GIC is pleased to continue investing in Pagaya as the company expands its financial products through the use of AI technology. With its innovative business model and differentiated performance in challenging market conditions, we believe that Pagaya is well-positioned to create long-term value for investors,” said Tzu Mi Liew, Chief Investment Officer of Fixed Income and Multi Asset of GIC.
“We are pleased to continue our ongoing partnership with GIC, who has played an important role in the rapid growth of our network over the past few years. As one of the world’s largest and most sophisticated investment firms, GIC recognizes the power of AI technology driving future opportunity for investors and Pagaya is fortunate to have their confidence and support,” said Gal Krubiner, co-founder and CEO of Pagaya. “This is a long-term strategic relationship for us that we hope to continue for decades to come.”
GIC is a leading global investment firm established in 1981 to secure Singapore’s financial future. As the manager of Singapore’s foreign reserves, GIC takes a long-term, disciplined approach to investing, and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. The firm’s long-term approach, multi-asset capabilities, and global connectivity enable them to be an investor of choice. GIC seeks to add meaningful value to its investments. Headquartered in Singapore, GIC has a global talent force of over 1,900 people in 11 key financial cities and has investments in over 40 countries. Further information is available at https://www.gic.com.sg.
About Pagaya Technologies
Pagaya (NASDAQ: PGY) is a global technology company making life-changing financial products and services available to more people nationwide. By using machine learning, a vast data network and a sophisticated AI-driven approach, Pagaya provides comprehensive consumer credit and residential real estate solutions for its partners, their customers, and investors. Its proprietary API and capital solutions integrate into its network of partners to deliver seamless user experiences and greater access to the mainstream economy. Pagaya has offices in New York and Tel Aviv. For more information, visit pagaya.com.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
PRnewswire | May 05, 2023
On April 19, 2023,a successful acquisition by Millennium Trust Company, a leading provider of health, wealth, retirement, and benefits solutions. In this strategic move, Accruit is excited to bring real estate 1031 exchange service solutions to over 5 million Millennium Trust clients holding over $55 billion in assets under custody.
After an extensive process and in-depth evaluation of numerous companies, Accruit found the right match in Millennium Trust. For over 20 years, Millennium Trust has provided access to and custody solutions for alternative asset investments, including real estate, making the company and its existing clients a great fit for Accruit's real estate 1031 exchange services.
"As we looked at how to best serve our current clients and grow our business, finding a company with strategic, like-minded values and service, which we found in Millennium Trust, was the right move," said Brent Abrahm, CEO and Founder of Accruit. "This acquisition isn't about slowing down, it's about accelerating our growth and opportunities, and extending our reach to over 5 million potential clients."
As a 1031 exchange Qualified Intermediary and a technology solution provider, Accruit holds a unique position in the marketplace, making it an attractive extension of the solutions Millennium Trust currently offers clients. Accruit's patented 1031 exchange workflow technology, Exchange Manager ProSM, streamlines the 1031 exchange process through embedded controls, automated notifications, custom exchange agreement and document creation, and digital execution via electronic signatures, making it simple and efficient.
"Being part of Millennium Trust allows Accruit to exponentially expand our footprint and provide exceptional service to more people looking to maximize their financial wellbeing," said Steven Holtkamp, Managing Director, and CFO of Accruit.
About Accruit Holdings
Accruit Holdings boasts over 20 years in the 1031 exchange industry. Through our leading independent, national Qualified Intermediary, we provide 1031 exchange services across the U.S. and specialize in all types of exchanges from forward, reverse, and build-to-suit/improvement, to specialty "non-safe harbor" reverse exchanges. We revolutionize the industry through our patented 1031 exchange workflow software by offering both SaaS and back-office solutions to the real estate marketplace. Learn more at www.accruitholdings.com
About Millennium Trust Company
Millennium Trust Company solves important business challenges through innovative financial wellness solutions that help people plan, save and invest. With clients holding more than $55 billion in assets under custody, we are committed to using our decades of expertise and strong partnership with the financial community to empower employers, advisors and institutions to help people achieve short-term and long-term financial security. Learn more about Millennium Trust at www.mtrustcompany.com.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
PRweb | May 22, 2023
Inside Real Estate, one of the fastest-growing independent real estate software companies and trusted technology partner to over 400,000 agents, teams, brokerages and top franchise brands, announced the rollout of the new and enhanced CORE Listing Machine & Design Center. Connecting directly to the MLS, CORE Listing Machine & Design Center pulls in property details and automatically creates a complete marketing campaign across all listing stages.
“The excitement of our sales team over having a fully integrated marketing solution for both digital and print is overwhelming,” said Wendi Iglesias, CIO, The Keyes Company. “Our goal is always to provide best-in- class, streamlined solutions to our team that will allow them to make an impact and drive business without having to leave our ecosystem to find the solutions they need. Now, we have everything we need to market ourselves and our listings in one easy to use platform!”
CORE Listing Machine & Design Center is the only marketing solution in the industry that has both direct MLS and print vendor integrations. By directly connecting to an agent’s MLS, property details are automatically populated to create an entire marketing campaign for any listing. Features include:
Single property websites are generated for each listing, automatically shared on social media pages, and each site has full screen property images, a mortgage calculator and multiple ways to engage potential buyers, and secure contact information.
Customizable listing kits allow agents to tailor their marketing templates to fit the design and dynamic of the property they are promoting, to better highlight their listings, reach potential buyers more effectively, and add more value for seller clients
Custom listing videos maximize listing exposure while driving powerful SEO value, with custom intros, outros, music, and voiceover capabilities, and are posted directly to an agent’s YouTube page.
Social media automation keeps agents top-of-mind with customers through a consistent, branded social media presence.
The Design Center makes it easy to create custom branded print and digital assets, with a library of premium, customizable templates, that can be leveraged to promote an agent’s personal brand across any channel, in just a few clicks.
Direct print integration capabilities allow you to quickly and effortlessly create printed assets to bolster your brand and market your listings.
“So often the most effective marketing tasks are the most time-intensive, but with this new suite of capabilities, we’re ensuring our clients can seize every marketing opportunity, at every stage of the listing cycle, automatically,” said Joe Skousen, CEO of Inside Real Estate. “These tools free up agents’ time, allow full control over branding and market presence, and most importantly, deliver incredible value to both their seller and buyer clients.”
Early data suggests strong adoption. In the early stages of the CORE Listing Machine & Design Center rollout, over 300,000 assets have already been auto-generated. CORE Listing Machine & Design Center availability to all kvCORE users will continue over the coming months.
About Inside Real Estate
Inside Real Estate is a fast-growing, independently-owned real estate software firm that serves as a trusted technology partner to over 400,000 top brokerages, agents, and teams. Their flagship product, kvCORE Platform, is the most modern and comprehensive solution in the industry known for delivering profitable growth at every level of a brokerage organization. Built on a modern, scalable, and flexible architecture, kvCORE enables every brokerage to create its own unique technology ecosystem through custom branding, robust integrations, and high-quality add-on solutions. Recent strategic acquisitions have expanded the company’s technology portfolio further, including BoomTown, Brokermint, and AmpStats solutions, which solidifies Inside Real Estate as the leading technology partner in the real estate industry. With an accomplished leadership team and its talented staff, Inside Real Estate brings the resources, scale, and vision to deliver ongoing innovation and success to their growing customer base.