REAL ESTATE ADVICE
Stewart | September 22, 2022
Stewart Information Services Corporation today announced that Stewart Valuation Intelligence, LLC (SVI) has been verified to support Freddie Mac’s new Property Data Report (PDR) with VALIDITY Pro and its national panel of highly trained real estate brokers and agents.
VALIDITY is the company’s family of inspection applications, optimized for mobile phones or tablets. With VALIDITY Pro, an SVI broker or agent conducts a full property inspection to collect Freddie Mac’s required data for the PDR.
“Being an Appraisal Management Company (AMC) with the technology and dedicated broker network needed to complete the reports for our clients is a huge advantage, Our customers don’t have to rely on unknown third-party providers. All our PDRs are produced with our network partners using our Freddie Mac verified VALIDITY Pro application.”
-Aaron Fowler, President of Stewart Valuation Intelligence, LLC
Starting in July, Freddie Mac transitioned from offering automated collateral evaluation (ACE) appraisal waivers to offering ACE+ PDR for cash-out refinance and certain “no cash-out” refinance Mortgages. This change will allow Sellers and Borrowers to continue to benefit from loans originated without a traditional field appraisal while mitigating risks.
In accordance with Freddie Mac’s requirements, VALIDITY collects all needed information and data including digital floor plans with dimensions and calculations, comprehensive sets of subject property photographs, property characteristics represented in the property data set, and adverse property conditions that require repairs, alterations, or an inspection by a trained professional, added Fowler.
Stewart is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage industry, we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. At Stewart, we are dedicated to becoming the premier title services company and we are committed to doing so by partnering with our customers to create mutual success.
REAL ESTATE INVESTMENT
Anchor Health Propertiesc | September 27, 2022
StepStone Real Estate, the real estate arm of private markets investment firm StepStone Group Inc., has made a significant strategic equity investment in Anchor Health Properties (Anchor), a best-in-class owner, manager, and developer of healthcare real estate across the United States. The investment was made through a separate account managed by SRE on behalf of a large international pension fund client. As of June 30, 2022, SRE oversaw US$168 billion in global real estate capital allocations for its limited partners and clients. Anchor intends to utilize the investment to fund future platform growth, as well as to enhance its balance sheet and credit reserves. Anchor Health Properties continues to be the majority owner and managing member of the operating platform.
"The commitment of one of the world's largest institutional investors to partner with the Anchor platform will help us manage and accelerate future growth in the coming years, We are confident that Anchor and SRE share a similar cultural fit, long-term ownership mentality, appropriate risk-adjusted decision making, and a vision to facilitate best-in-class healthcare services through our healthcare facilities across the United States. We are excited for this next chapter of Anchor's growth as we continue to 'pursue better healthcare through real estate solutions' across our three major service lines."
-Ben Ochs, Anchor's Chief Executive Officer
James Schmid, the firm's Chief Investment Officer, noted, In early 2022, Anchor evaluated the potential to enhance the firm's corporate balance sheet and prepare for the next stage of platform growth. We had the opportunity to meet with a wide range of equity and debt capital investors across the globe and evaluate the potential to partner with strategic growth capital as we continue to expand our development, management, and investment reach and capabilities. We anticipate there will be increased investment and development opportunities in the coming months and years, and we are well positioned to take advantage to drive outsized returns for investors as those opportunities arise. Further, we are excited to benefit from SRE's insights into global capital flows and dynamic approaches to business execution.
John Waters, SRE Partner and Head of Investments added, We got to know Anchor while we were evaluating best-in-class partners with which to make a strategic investment in the US healthcare real estate sector. We believe that our recapitalization of Anchor will help them to achieve their growth objectives and significantly enhance their operating platform going forward.
Ted Flagg, Senior Managing Director for JLL Securities, facilitated a targeted investor process to help Anchor evaluate equity and debt options for a platform investment over the course of 2022. Mr. Flagg added, JLL Securities is pleased to have represented Anchor to find the right investor for long-term platform growth. After considering a meaningful number of different and attractive proposals from domestic and international investors, JLL worked with Anchor to determine the best strategic fit with a partner who shared a similar approach to investing, including a long-term investment mindset and a continued commitment to providing exceptional services for healthcare real estate.
Anchor Health Properties was advised on legal elements by Goodwin & Proctor LLP during the transaction process. SRE was advised by Latham & Watkins LLP. Jones Lang LaSalle Securities provided financial advisory services to Anchor Health Properties for the transaction.
About Anchor Health Properties
Anchor Health Properties is a national, full-service healthcare real estate development, management, and investment firm serving investors and health systems. Leveraging our collective experience and resources, our nimble, and thoughtful team of professionals develop and deliver tailored, client-specific solutions to respond to today's healthcare challenges – thinking outside the "medical office box." With more than $1.5B of completed development projects, nearly 9M square feet under management, and nearly $3B invested in stabilized healthcare facilities, Anchor continues to create a better healthcare experience for patients and a competitive edge for our clients. Anchor maintains multiple offices nationwide and features more than 100 professionals in its ranks. Healthcare today calls not only for new and more efficient ways of delivering healthcare services, but also a different kind of healthcare real estate company.
REAL ESTATE INVESTMENT
eXp Realty | September 19, 2022
eXp Realty®, the fastest-growing global real estate brokerage and the core subsidiary of eXp World Holdings, Inc., today announced plans to expand its real estate operations into Poland.
This announcement follows the successful launch of four new markets in 2022 including the Dominican Republic, Greece, New Zealand and Chile with Dubai expected to open soon. Upon launch of these new markets, eXp Realty will have a presence in 24 global markets, including its headquarters in the United States.
“Poland’s recent wave of real estate brokerage consolidation speaks to the attractiveness of its property sector for both foreign and domestic investments, With continued rapid growth and resilience in the real estate market, Poland provides eXp Realty an ideal opportunity to establish a strong foothold in the Central and Eastern European region.”
-Michael Valdes, Chief Growth Officer
eXp Realty’s brokerage operations in Poland will be led by Dorota Chomuntowska who joins the company with more than 11 years of real estate broker experience in Poland and other international markets. eXp has pioneered a new wave of quality and value for the real estate industry, I am honored to lead this expansion in Poland and look forward to introducing eXp Realty to agents across the country,says Chomuntowska.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. is the holding company for eXp Realty®, Virbela and SUCCESS® Enterprises. eXp Realty is the fastest-growing real estate company in the world with more than 84,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, Dominican Republic, Greece, New Zealand and Chile and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS® Enterprises, anchored by SUCCESS® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.