REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT
SmartRent | January 03, 2023
SVN | SFR Capital Management (SVN | SFR), a privately held commercial real estate investment company that specializes in single-family build-for-rent (BFR) housing, recently announced a partnership with SmartRent, a provider of real estate technology solutions. SVN | SFR's rental communities are made to improve residents' quality of life, safety, and retention while lowering costs and making operations more efficient.
SVN | SFR Capital Management says that smart home technology has become an essential part of today's dedicated rental communities, and most renters are willing to pay more for houses with smart technology already built in. SmartRent's daily operational process solutions will help SVN | SFR and single-family rental renters by automating tenant technology and protecting assets.
As the BFR housing market alternative remains a popular commercial real estate (CRE) investment, SVN | SFR plans to buy and combine about 35,000 new construction BFR homes over the next 5–7 years, depending on the economy and tenant demand. The company will do this by raising an initial $12 billion in equity and debt capital, which it will use to build a large-scale institutional rental home portfolio and sell when it is stable.
SmartRent said today's operators and tenants want the modernization, optimization, and convenience that technology brings. The firm is thrilled to join SVN | SFR to usher in the age of smart solutions for their properties. With the help of SmartRent's hardware, software, and monitoring solutions, SVN | SFR's teams will be able to improve operational and financial efficiency as well as resident satisfaction across communities.
SmartRent's array of products and services encourages integrated modern living. Supported devices include locks that don't need keys, doorbells that ring, switches, dimmers, plugs, lightbulbs, thermostats, voice assistants, leak, motion, and door sensors. In addition, prospective residents/tenants can take self-guided tours and add ring devices for enhanced protection.
About SmartRent
SmartRent, Inc., founded in 2017, is a recognized enterprise property technology company built by and for real estate operators. All the company's products, including smart house-building hardware and SaaS solutions that run in the cloud, make it easy to see and control real estate assets. SightPlan, its subsidiary, specializes in workflow management solutions that automate the property lifecycle. The powerful, end-to-end enterprise platform from SmartRent and SightPlan boosts efficiencies and delivers cost savings and extra income streams, along with elevating user experiences.
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MARKET OUTLOOK, REAL ESTATE TECHNOLOGY
MRI Software | February 27, 2023
One of the leading software solutions in real estate, MRI Software, announced it completed the acquisition of the $93.4 million stock of PropTech Group. The Foreign Investment Review Board (FIRB), Australian Competition and Consumer Commission (ACCC), and Federal Court of Australia approved the highly anticipated transaction, first announced last year.
Australia's property technology (PropTech) industry has experienced extraordinary growth in recent years due to an influx of new providers and innovation. By acquiring PTG, MRI enhances and expands its MRI LivingTM suite of residential sales and property management solutions, automating and simplifying all consumer touchpoints within the real estate industry.
It is recommended that the agency professionals continue their work with their respective PTG or MRI contacts. The PropTech Group initially traded as PTG on the Australian Securities Exchange (ASX) in November 2020 with a suggestive enterprise value of $27 million outlined in its Prospectus. MRI has acquired it for $93.4 million, equal to a nearly 250% increase in value in the past two years.
Senior Vice President and Executive Managing Director for MRI Software in Asia Pacific, David Bowie, said, "This acquisition brings together two innovative PropTech companies dedicated to providing the greatest possible value to real estate agencies across Australia and New Zealand." He added, "The residential real estate industry is now a step closer to having a holistic operational view of consumers throughout their property life cycle."
(Source: Cision PR Newswire)
About MRI Software
MRI Software, is a top real estate software solution provider that transforms how communities live, work and play. Its open and connected AI-first platform empowers owners, workers, and occupiers in residential and commercial property organizations to revolutionize in rapidly changing markets. It has been a pioneer in the PropTech industry for over fifty years, offering two million+ users globally. Through a rich partner ecosystem and innovative solutions, the software provider provides real estate companies access to accomplish their vision of building flourishing communities and more substantial businesses.
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MARKET OUTLOOK, REAL ESTATE INVESTMENT
Savills | January 20, 2023
On January 19, 2023, New York-based real estate company Savills informed that it is increasing its footprint in the North American market by launching a new office in Montreal.
Antoine Dumas will take on the role of Associate at the company. Brandon Allen, Erik Charton, Paul Fischlin, and Stéphane Robillard will take on the roles of Executive Vice President at the company, while Robin Blanchard will take on the role of Vice President. Meanwhile, George Manousos will take on the role of Vice President and Agency Executive Officer. The group's main areas of expertise will be industrial leasing, investment sales, and capital markets.
Vice Chairman Rick Schuham stated, "Savills has strategically opened locations in key markets throughout Canada, and Montreal was a natural next step for our first location in the province of Quebec." He further added, "We have recruited the market's most seasoned industrial brokerage group to establish our location in Montreal. Bringing together this group of top-producing real estate advisors strengthens our ability to deliver market-ready solutions and services in North America and allows us to expand our geographical coverage into Southeast Canada.”
(Source – Cision PR Newswire)
Savills benefits from the combined expertise of a workforce that, on average, has been in the sector for twenty years. The team represented clients across the industrial spectrum in 2022, including cold storage, warehousing, ports, airports, global infrastructure, distribution and logistics, flex space, land sales, and research and development. The team brokered over $800 million in real estate transactions across Canada. It provides a diverse selection of real estate services, such as tenant representation, landlord and vendor representation, built-to-suit advice, and investment sales.
Gregg Healy, Head of Savills Industrial Services, stated, "The industrial sector in Montreal has remained resilient post-pandemic, with strong investment sales and leasing velocity." "Montreal has a rich mix of industries, including life sciences, financial services, manufacturing, transportation, technology, and healthcare, that have continued to invest heavily in establishing operations in the market. We look forward to tapping into the new team's expertise to drive growth for industrial services throughout Canada," he concluded.
(Source – Cision PR Newswire)
About Savills
Savills supports businesses in discovering employee success solutions. Its integrated teams of brokers and consultants are real estate experts. The company's tenant advocacy, capital markets, project management, labor and incentives strategy, workplace design, and occupant experience have improved local and global workplaces for 160 years. The company is owned by Savills plc, which has over 35,000 specialists and 700 offices globally.
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