MARKET OUTLOOK,REAL ESTATE ADVICE
Ventas | July 19, 2022
Ventas, Inc. (NYSE: VTR) today announced that Fitch Ratings (“Fitch”) has revised its rating outlook for Ventas to Stable from Negative and affirmed Ventas’s issuer credit rating of ‘BBB+’. In revising Ventas’s outlook, Fitch highlights that operating performance in Ventas’s senior housing operating portfolio is expected to continue to gain momentum as evidenced by steady gains in rent growth and occupancy. Fitch believes that the senior housing portfolio is positioned for a strong recovery driven by attractive 80+ population growth leading to higher move-ins and a favorable supply backdrop.
Fitch notes the benefits of Ventas’s diversified portfolio, approximately 30% of which consists of high-quality, principally on-campus medical office buildings and life science properties anchored by over 17 top-tier, high credit research universities. Fitch also cites Ventas’s strong liquidity position with minimal debt maturing through 2023 and management’s commitment to a strong financial policy.
Ventas Inc., an S&P 500 company, operates at the intersection of two large and dynamic industries – healthcare and real estate. Fueled by powerful demographic demand from growth in the aging population, Ventas owns a diversified portfolio of over 1,200 properties in the United States, Canada, and the United Kingdom. Ventas uses the power of its capital to unlock the value of senior living communities; life science, research & innovation properties; medical office & outpatient facilities, hospitals and other healthcare real estate. A globally recognized real estate investment trust, Ventas follows a successful long-term strategy, proven over more than 20 years, built on diversification of property types, capital sources and industry leading partners, financial strength and flexibility, consistent and reliable growth and industry leading ESG achievements, managed by a collaborative and experienced team dedicated to its stakeholders.
REAL ESTATE TECHNOLOGY
Brokerfied | June 09, 2022
Brokerfied Inc. launched an online platform that provides landlords nationwide with a suite of tools to list and market their properties directly to potential customers. The platform was developed by expert commercial brokers to address the needs of small-scale commercial real estate owners who have long been neglected in the current market.
The commercial real estate market has traditionally focused on major landlords, investors, and brokerages, while landlords of smaller properties face difficulty finding brokers to list their properties and exorbitant broker fees, which are hard to justify for smaller spaces. Brokerfied bridges the gap, allowing landlords and customers to interface directly.
Brokerfied will change the game for landlords who have faced an uphill battle just to list their properties. This platform provides comprehensive support throughout the entire process, allowing small-scale commercial real estate owners to efficiently manage communications, paperwork, and logistics at low cost while expanding their reach to potential customers-tenants or buyers."
Dan Bernier,Brokerfied Founder
Brokerfied estimates that the 1.2 million small and vacant properties across the United States could drive revenue of three-quarters of a billion dollars annually, presenting a considerable opportunity for market disruption. Billions of dollars of additional revenue could be available to small landlords who currently do not have the experience or wherewithal to lease out their space or the marketing reach to find a buyer
Brokerfied is subscription-based, with plans ranging from one to six months. Once all necessary property information has been provided, Brokerfied creates a search-engine-optimized website with all available information for landlords to showcase their properties to potential customers. Other tools include a professional flyer for online and in-person marketing, signage with QR codes for owners to display on site, a Brokerfied email and phone number to safeguard landlords' private information and communication center where all property-related communications are consolidated. Relevant engagement statistics, such as QR code scans, emails, and phone calls are displayed on a user-friendly property dashboard.
"We envision vacant storefronts in neglected communities coming back to life, leading to bustling activity that will revitalize neighborhoods and encourage investment," Bernier said. "There are millions of properties across the country just waiting to be utilized, and Brokerfied provides landlords the tools to unlock their full potential."
Brokerfied is the only service that empowers landlords to list and market their properties directly to potential customers. Founded by commercial real estate veteran Dan Bernier, Brokerfied is a low-cost subscription that provides everything a landlord needs to market their commercial real estate for sale or for lease.
REAL ESTATE INVESTMENT
Gray Capital | June 30, 2022
Multifamily investment firm Gray Capital has closed on their acquisition of Club Meridian Apartments, a 406-unit property located in Okemos, MI just east of Lansing, MI.
Gray Capital intends to make strategic upgrades at the property, including siding and asphalt repairs, pool upgrades, re-painted balconies, new signage, and other exterior enhancements to boost the curb appeal of the property. Additionally, interior renovations like modern appliances, new flooring, and upgraded countertops will significantly increase the value of the asset and elevate its position in the rental market.
Club Meridian is already a well-maintained property, and this solid foundation will allow us to dedicate our resources to those renovations and improvements that are most important to residents and the quality of the property itself."
Spencer Gray, President and CEO of Gray Capital
George Tikijian, Hannah Ott, and Cameron Benz of the Indianapolis Cushman & Wakefield represented the seller in the transaction, with Gray Capital representing itself.
Club Meridian is the second property within Gray Capital's $100 million multifamily investment fund, The Gray Fund, and follows the acquisition of Indianapolis apartment property Stonybrook Commons one month prior.
The acquisition of Club Meridian and Stonybrook Commons in 2022 adds to Gray Capital's $600+ million in assets under management and more than $1 billion in commercial real estate projects to date since its founding in 2015.