Florida Home Prices, Sales Continue to Rise in April

Florida Realtors | May 22, 2019

According to Florida Realtors, Florida's housing market reported more sales, higher median prices and increased inventory (active listings) in April 2019 compared to a year ago. Sales of single-family homes statewide totaled 26,992 last month, up 6.2% over April 2018. "Still-low mortgage interest rates and a strong jobs outlook are positive trends for Florida's housing market," said 2019 Florida Realtors President Eric Sain. "Another strong sign: New pending sales for existing single-family homes in April rose 4.4% year-over-year, while pending sales for existing condo-townhouse properties remained at about the same level (-0.8%) as April 2018."

Spotlight

Color plays a huge role in any home. It can make a room feel warm and inviting or cold and stale depending the shade. While each homeowners personal tastes will effect the color scheme of any home, there are some psychological influences that should cause us to think about that next room painting project

Spotlight

Color plays a huge role in any home. It can make a room feel warm and inviting or cold and stale depending the shade. While each homeowners personal tastes will effect the color scheme of any home, there are some psychological influences that should cause us to think about that next room painting project

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INVESTMENTS

Dreamscape Companies and Meritage Group Acquire New Construction Nashville Holiday Inn & Suites Downtown

Dreamscape | December 14, 2021

A joint-venture between affiliates of Dreamscape Companies and Meritage Group LP completed the acquisition of the Nashville Holiday Inn & Suites Downtown, a newly constructed hotel situated in the heart of Downtown Nashville in the city's vibrant SoBro (South of Broadway) neighborhood. This purchase marks Dreamscape's second hospitality transaction in the city in 2021, having acquired The Sheraton Grand Nashville Downtown in June. The purchase of this 230-room hotel underscores Dreamscape's commitment to expanding its presence in the Nashville market, as well as identifying prime growth opportunities in key regional areas across the country. "We are very pleased to be partnering with Meritage on this exciting deal. Nashville has long signified an area of keen interest for us, and after entering the market earlier this year with the purchase of The Sheraton Grand Nashville Downtown, we immediately knew that we wanted to expand our footprint in this booming city, which continues to attract tourists from all over the country as well as across the globe." -Eric Birnbaum, Founder and CEO of Dreamscape Companies "We are thrilled to be expanding our presence in Nashville given the strong market fundamentals. This transaction marks Dreamscape's fifth acquisition in the last year and fits squarely into our thesis to acquire assets in high-growth markets at an attractive basis." -Scott Broder, President of Dreamscape Hospitality The Nashville Holiday Inn & Suites Downtown, located at 415 4th Avenue South, has been outfitted with 230 rooms and 8,700 square feet of first-class meeting space, making it an ideal establishment for leisure and business travelers alike. The property, which opened its doors just two years ago, also includes the street front cocktail bar and restaurant, 4th and Peabody, which is preparing to undergo a thoughtful renovation, as well as an on-site parking garage. In addition to reimagining the hotel's dining concept, Dreamscape is also planning to integrate additional retail concepts within the property's expansive lobby. "We are pleased to partner with Dreamscape to acquire another leisure-oriented, new construction hospitality asset in a dynamic growth market. This is a continuation of Meritage's broader commitment to investing in downtown Nashville, which began in 2017, and this marks our fifth investment in Nashville of strategically located, urban-core assets." -Jared Halperin, a Managing Director at Meritage Located just a short walk from the city's ever-bustling and widely trafficked Broadway strip, the Nashville Holiday Inn & Suites Downtown places visitors in close proximity to Bridgestone Arena; Music City Center, the city's convention center; and other iconic institutions and landmarks. Additionally, those craving the best Nashville has to offer will delight in knowing that the hotel is situated just across the street from Nashville's famous barbeque restaurant, Martin's BBQ Joint. About Dreamscape Dreamscape's mission is to create long-term financial prosperity through a diversified portfolio of differentiated, forward-thinking real estate projects. Led by Founder and CEO Eric Birnbaum, Dreamscape owns and operates residential, retail, hospitality, entertainment and gaming properties, (re)developing experience-centered spaces that focus on maximizing each property's intrinsic value. About Meritage Group LP Meritage is a fundamentally-oriented investment firm with assets under management in excess of $11 billion as of December 31, 2020. Meritage invests in public and private equity, credit and real estate. The firm has approximately 50 employees in offices located in Greenwich, New York City, and San Francisco.

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REAL ESTATE TECHNOLOGY

Tower 16 Capital Partners in Tucson, Arizona Acquires Sierra Vista Apartments

prnewswire | December 01, 2020

San Diego-based Tower 16 Capital Partners, in organization with Drake Real Estate Partners, has obtained Sierra Vista Apartments, a 258-unit multifamily venture in Tucson, Ariz. The property was gained from a private vender in an off-market exchange. Since its establishing in 2017, Tower 16 has taken comparable actions into business sectors all through the west, having gained more than 4,000 units in California, Las Vegas, Phoenix and Denver. The organization looks for business sectors with expanding interest for labor force lodging driven by work development and in-movement however with moderately low degrees of new gracefully. As indicated by organization chiefs, Tower 16 plans to fabricate an arrangement of more than 1,000 units in the Tucson market. Sierra Vista Apartments is situated at 3535 N. First Avenue in Tucson, Ariz. The property is minutes from the I-10 turnpike and a little ways from Downtown Tucson and the University of Arizona grounds. The people group comprises of one-, two-and three-room condos with a huge clubhouse, exercise center and two pools. Pinnacle 16 will administer near $4 million in overhauls and remodels to the property including modernized unit redesigns, another clubhouse, exercise center and refreshed pool territories. The organization will likewise be adding outside civilities including grills, seating and open air gaming regions.

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Real Estate Developer Passes Square Footage Milestone

prnewswire | October 05, 2020

Through a series of recent developments and acquisitions, Welcome Group, LLC, now has more than 5 million square feet of industrial space within the company's commercial real estate portfolio in Texas. The Houston, Texas-based real estate owner and developer's extensive growth aligns with the company's expansion goals. Welcome Group's robust portfolio consists of single-tenant commercial, distribution, lab, and manufacturing properties. The company is actively seeking more development, purchase and sale-leaseback opportunities to achieve the next goal of owning over 6 million square feet of industrial real estate space by the end of 2021.

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