REAL ESTATE INVESTMENT, MORTGAGE AND LENDING
PRnewswire | May 23, 2023
Rocket Mortgage, the nation's largest retail home lender and part of Rocket Companies (NYSE: RKT), today introduced ONE+, a new 1% down home loan program that will dramatically increase access to homeownership for millions of low-to-moderate-income earning Americans.
With ONE+, a homebuyer is only required to make a down payment of 1% of the purchase price and Rocket Mortgage will cover the remaining 2% needed to reach the required threshold for conventional loans. In addition to reducing upfront costs, ONE+ completely eliminates the expensive monthly mortgage insurance fee for the client – which is traditionally required if the buyer places less than 20% down on their purchase.
"Rocket Mortgage prides itself on finding innovative solutions and lending programs that help clients achieve their goals in any market cycle. No other lender has a mortgage option that makes affordable homeownership possible for as many Americans as ONE+," said Bob Walters, CEO of Rocket Mortgage. "We talk with people from all walks of life every single day – many of whom are ready to own a home, and could easily make the monthly mortgage payments, but are having trouble saving for a down payment. ONE+ is a response to that feedback and the latest example of Rocket's commitment to creating programs that help make homeownership more attainable."
Designed to help everyday Americans achieve homeownership, ONE+ is available to homebuyers purchasing single-family homes – including manufactured homes – whose income is equal to or less than 80% of their area median income (AMI). With this expansive AMI eligibility, Rocket Mortgage estimates that more than 90 million people can meet the income requirements for this program – based on publicly available income data.
As an example of the savings possible through ONE+, a homebuyer purchasing a $250,000 home typically needs a minimum of 3% down, or $7,500. Now, they will only need a $2,500 down payment. In addition, ONE+ offers mortgage insurance at no cost to the client, which on a $242,500 loan, can be as much as $245 per month. That improves a homeowner's monthly cash flow and can save as much as $20,500 over the first seven years after closing – the average amount of time mortgage insurance needs to be paid.
This is the third initiative Rocket Mortgage has launched in the last six months with affordability in mind. Other programs such as BorrowSmart Access and Purchase Plus focus on addressing challenges for homebuyers in underserved communities. By offering a $3,000 credit with BorrowSmart Access and a $7,500 credit with Purchase Plus, hurdles such as closing costs and down payments are lessened and accessibility is increased.
Homebuyers can apply for ONE+ using Rocket Mortgage's industry-leading digital mortgage experience at RocketOnePlus.com and on the Rocket Mortgage mobile app. They can also apply through one of the thousands of mortgage brokers across the country who partner with the lender through Rocket Pro TPO.
About Rocket Mortgage
Detroit-based Rocket Mortgage is one of the nation's largest home lenders, closing more mortgage volume than any other lender in 2022, and is a part of Rocket Companies (NYSE: RKT). The lender enables the American Dream of homeownership and financial freedom through its obsession with an industry-leading, digital-driven client experience. In late 2015, it introduced the first fully digital, completely online mortgage experience. Since its founding in 1985, Rocket Mortgage has closed more than $1.6 trillion of mortgage volume across all 50 states.
Rocket Mortgage is ranked highest in the country for client satisfaction in mortgage origination by J.D. Power. Combining the mortgage origination and servicing studies, Rocket Mortgage has earned 20 total accolades from J.D. Power – the most of any mortgage lender. Rocket Companies, Rocket Mortgage's parent company, ranked #11 on Fortune's list of the "100 Best Companies to Work For" in 2022 and has placed in the top third of the list for 20 consecutive years.
MARKET OUTLOOK, REAL ESTATE INVESTMENT
PRnewswire | April 04, 2023
Tishman Speyer today announced that The Spiral, its recently-completed West Midtown office tower, has won the 2023 CoStar Impact Award for best commercial development in the New York City region.
The CoStar Impact Awards recognize exemplary commercial real estate transactions and projects completed in 2022 with significant influence in neighborhoods across 128 major markets in the United States, Canada and the United Kingdom.
Designed by BIG-Bjarke Ingels Group, The Spiral rises to 1,031 feet and features a cascading series of landscaped terraces and hanging gardens as its signature element. The terraces ascend one per floor in a spiraling motion to create a unique, continuous green pathway that wraps around the façade of the tower, supplying its occupants with readily accessible fresh air and outdoor space.
"Since day one, Tishman Speyer has been focused on making The Spiral the world's most innovative, collaborative and human-centric office environment," said Tishman Speyer Senior Managing Director and Regional Director of New York Chris Shehadeh. "This recognition by CoStar serves as both a validation of our efforts and a testament to the hard work and ingenuity of everyone involved in this project."
The Spiral, which is pursuing LEED Gold certification, prioritizes people first through its biophilic design and intense focus on health, wellness and sustainability. Tishman Speyer's forward-looking approach has helped attract a number of the world's most diverse and innovative companies to The Spiral, including industry leaders Pfizer, Debevoise & Plimpton, HSBC, AllianceBernstein, Baker Tilly, NewYork-Presbyterian, SEB and Turner Construction.
On the top floor of the 66-story tower, Tishman Speyer has created ZO Clubhouse, a premier amenity center and lounge that is available to all customers in the tower. The Clubhouse features an open-air terrace, panoramic views of New York City, a beautifully furnished lounge, food and beverage service, and multiple spaces for meetings, conferences and events. The Spiral also features Studio, Tishman Speyer's flexible workspace solution, with a full suite of furnished, on-demand availability offerings, including coworking spaces, private suites, conference rooms and hot desk space along with high-speed Wi-Fi, conferencing technology and a dedicated staff.
Tishman Speyer is also partnering with award-winning chefs and restaurateurs on three culinary destinations at the base of the 2.8 million square-foot tower. The firm is working with Chef Gabriel Kreuther on a 5,700-square-foot full-service restaurant, as well as an all-day café serving breakfast and lunch, and featuring small plates and specialty wine and cocktails in the evening. Tishman Speyer is also collaborating with Erik Ramirez and Juan Correa, the team behind Llama San and Llama Inn, on a 6,000 square-foot restaurant showcasing Peruvian-Japanese cuisine. The Llama team is also operating the food & beverage program for the ZO. Clubhouse.
Located at the intersection of the High Line and the four-acre Bella Abzug Park, The Spiral encompasses an entire city block stretching from West 34th to West 35th Streets and from 10th Avenue to the park. The six-story base of the building incorporates a grand lobby featuring thought-provoking art by a variety of partners. StudioDrift has created a mesmerizing upside-down landscape consisting of kinetic mechanical flowers that gracefully open and close in synchronized motion. Meanwhile, Sourabh Gupta's Botanicals create the illusion of garden ponds, with lush vegetation growing at the edges.
About Tishman Speyer
Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in 33 key markets across the United States, Europe, Asia and Latin America. Our portfolio spans market rate and affordable residential communities, premier office properties and retail spaces, industrial facilities, and mixed-use campuses. We create state-of-the-art life science centers through our Breakthrough Properties joint venture, and foster innovation through our strategic proptech investments. With global vision, on-the-ground expertise and a personalized approach, we are unparalleled in our ability to foster innovation, quickly adapt to global and local trends and proactively anticipate our customers' evolving needs. By focusing on health and wellness, enlightened placemaking and customer-focused initiatives such as our tenant amenities platform, ZO, and our flexible space and co-working brand, Studio, we tend not just to our physical buildings, but to the people who inhabit them on a daily basis. Since our inception in 1978, Tishman Speyer has acquired, developed, and operated 531 properties, totaling 221 million square feet, with a combined value of approximately $130 billion (U.S.). Our current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco.
MARKET OUTLOOK, REAL ESTATE TECHNOLOGY
PRweb | May 23, 2023
Global real estate brokerage The Agency proudly announces the launch of its first franchise office in Indianapolis, Indiana. The new locale, which will be known as The Agency Indianapolis, is the firm’s first office in the state of Indiana, and second in the Midwest following Birmingham, Michigan, which opened in 2022. The Indianapolis office joins the brokerage’s growing network of more than 80 offices in the U.S., Canada, Mexico, the Caribbean, and Europe and will be led by industry veteran and Managing Partner Traci Garontakos. Traci and her team will service the greater Indianapolis region with a focus on the city’s thriving suburbs of Zionsville, Carmel, Westfield, Noblesville, and Fishers.
“We’re thrilled to continue our expansion across the Midwest with the launch of our first office in Indiana,” said Mauricio Umansky, CEO and Founder of The Agency. “We’re delighted to partner with Traci Garontakos, a well-respected and accomplished professional in our industry, as we unveil our new location in Indianapolis.”
The Agency has rapidly expanded its presence across the globe throughout the past year, making it one of the fastest-growing luxury boutique brokerages in the world. The Agency’s independently-owned brokerages are referred to and integrated as true global partners. Every Managing Partner, from both corporate or independently-owned offices, operates cohesively as one true global network. Rather than simply using brand likeness in their marketing, The Agency’s global partners enjoy the same access to leadership, marketing, public relations, training, tools, and technology as our corporate offices. In Q1 of 2023 alone, The Agency launched eight new offices, with more on the horizon in the coming months.
“Indianapolis is a thriving market that holds great synergy with The Agency brand as we continue to deepen our brokerage’s presence in the Midwest,” said Jim Ramsay, Executive Vice President of Franchise Sales at The Agency. “We look forward to servicing this thriving destination as we bring The Agency’s unparalleled network and resources to buyers and sellers throughout Indianapolis.”
Traci Garontakos serves as Managing Partner of The Agency Indianapolis and is a proud resident of Zionsville, as well as a highly accomplished real estate professional with more than 20 years of experience in building lasting business relationships. With a passion for design and a personal commitment to working tirelessly for her clients, Traci has established herself as a trusted and respected figure in the local real estate industry. As a top producer for many years, Traci has a deep understanding of the luxury real estate market and has developed a keen eye for identifying the best opportunities for her clients, who appreciate her attention to detail and ability to make the buying and selling process as stress-free as possible. She has a reputation for going above and beyond to ensure her clients are satisfied and happy with their real estate transactions. Traci has built a team of dedicated professionals who share her commitment to excellence, resulting in $50 million in annual sales in 2022. As a top producer in the luxury real estate industry, Traci’s reputation for exceptional service and results speaks for itself.
“The Agency’s global brand presence and innovative marketing align perfectly with the culture of our business and the city of Indianapolis,” said Traci Garontakos. “I am excited to lead our team and continue to serve the greater Indianapolis region and its suburbs, which continue to experience unprecedented growth and development while maintaining the charm, beauty, and idyllic Midwestern lifestyle afforded within our local community.”
With solid infrastructure, The Agency has a renowned brand that is featured on international television shows including “Million Dollar Listing Los Angeles,” “The Real Housewives of Beverly Hills,” and “Buying Beverly Hills,” which debuted on Netflix on November 4, 2022 and just announced its second season. The Agency has grown to more than 80 corporately owned and franchise offices across the globe, making it one of the fastest-growing luxury boutique brokerages in the world. Poised for further expansion with like-minded partners in strategic markets, The Agency is noted by The Financial Times as one of America’s Fastest Growing Companies and has ranked among Inc. 5000’s list of fastest-growing private companies in the country for six consecutive years. Recently, The Agency ranked 18th on the 2023 RealTrends 500 list, and ranked as the fifth-largest privately held independent brokerage in the nation by sales volume. In August 2022, Inman named The Agency Luxury Brokerage of the year.
The Agency Indianapolis is situated within a historic farmhouse known as The Holliday House at Holliday Farms, located at 3546 South US 421, Zionsville, IN 46077.
The Agency is an agent-first, tech-driven boutique luxury global brokerage representing clients worldwide in a broad spectrum of classes, including residential, new development, resort real estate, luxury leasing and vacation rentals. Breaking away from the traditional brokerage model, The Agency takes a collaborative approach to the business, fostering a culture of partnership in which all clients and listings are represented in a collaborative environment. Agents and clients benefit from the shared resources and networks of the entire global team, including in-house creative, public relations and cutting-edge technology divisions. The Agency has closed more than $57 billion real estate transactions since 2011, comprising over 80 offices in ten countries, and counting, as one of the fastest-growing boutique, luxury real estate brands in the world. Watch The Agency on Buying Beverly Hills, a new real estate occu-soap highlighting the high-stakes world of luxury real estate in Los Angeles, currently streaming on Netflix.