Foreclosures in U.S. Down 50 Percent Annually in May

ATTOM | June 20, 2019

According to ATTOM Data Solutions May 2019 Foreclosure Market Report, U.S. foreclosure filings default notices, scheduled auctions and bank repossessions were reported on 56,152 U.S. properties in May 2019, up 1 percent from the previous month but down 22 percent from a year ago for the 11th consecutive month with an annual decline.

Spotlight

Many companies sometimes find that their businesses seemingly have not changed dramatically since they last signed the lease for their current location.

Spotlight

Many companies sometimes find that their businesses seemingly have not changed dramatically since they last signed the lease for their current location.

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REAL ESTATE TECHNOLOGY

Hilco Redevelopment Partners Hires Professional George Needs as Vice President-Mixed Use Development Real Estate Industry

prnewswire | November 05, 2020

Hilco Redevelopment Partners (HRP), the real estate development unit of Hilco Global that remediates and redevelops complex and obsolete industrial properties, announced today it has hired George Needs to the position of Vice President – Mixed Use Development. Mr. Needs joins the growing HRP organization and will be a vital addition to the new urban mixed-use development team. Mr. Needs will join Melissa Schrock, who was recently brought on to lead the team, and together, they will be responsible for managing several exciting projects currently underway, including L Street Station in Boston, Massachusetts and Campus Bay in San Francisco, California, among other significant projects throughout the country. He will be based on Boston, MA.

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INVESTMENTS

Township Capital Acquires Two Multifamily Properties in Phoenix, Arizona for Value-Add Fund

Township Capital | February 17, 2022

Township Capital and Epic Investment Services ("Epic") announce the acquisition of Urban 188 and Urban 96 ("Urban Phoenix"), two adjacent residential rental properties in Phoenix, Arizona, as part of Township's GP Value-Add Fund I. ("the fund") The fund aims to acquire garden-style multifamily properties in select markets targeting strong demographics, durable employment, and other value-add characteristics. This marks the third and fourth acquisitions within the value – add partnership with Epic. Last year Township participated in Epic's U.S. Multifamily Fund I as lead investor with $60 million of total equity commitments. We are proud to be a part of another acquisition with Epic. Township has aligned with the strategy backing Fund I and experienced the results of sourcing the right product for the fund firsthand, The value creation model delivers exceptional results, which is important to Township's role as a lead investor in Epic's U.S. Multifamily Fund I. We've continued to seek opportunities in the multifamily sector given how resilient it has remained through the pandemic." Matthew Gorelik, CEO at Township Capital. About Urban Phoenix The 188-unit and 96-unit garden-style buildings, total 132,675 square feet and 4.42 acres located in central Phoenix. Positioned in a high rent-growth area near well-established employment hubs and in proximity to the Valley Light Rail system and Highway I-17. Providing convenient access to surrounding high profile neighborhoods of Arcadia, Biltmore, Scottsdale, and Tempe. Both have a combined occupancy rate of 92%. The acquisition offers a unique opportunity to implement a value-add program focused on modernizing finishes and improving common-area amenities. About Township Capital, LLC Township Capital, LLC is a leading co-GP real estate investment firm headquartered in Beverly Hills, CA. Founded by CEO Matthew Gorelik in 2014, the firm has experience investing across all major property types with a specialty in student housing, senior living, multifamily, and industrial. About Epic Investment Services Epic Investment Services, which includes its wholly owned subsidiary MDC Realty Advisors in the United States, is a fully integrated North American real estate platform. Epic's Canadian head office is located in Toronto, Ontario and its U.S. head office is located in Denver, Colorado. Epic's portfolio comprises over 30 million square feet and $17.5 billion in assets under management in office, retail, industrial and multi-family residential properties.

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REAL ESTATE INVESTMENT

New York Life Real Estate Investors announces the closing of its Structured Debt Fund for Madison Square

prnewswire | October 28, 2020

New York Life Real Estate Investors ("REI") today announced the final closing of its Madison Square Structured Debt Fund ("Fund"), a commingled, high yield real estate debt vehicle. With nearly $500 million of committed capital, this closed-end fund will originate bridge loans collateralized by institutional-quality office, multifamily, industrial, retail, and other niche sector assets in primary and secondary markets in the United States. The vehicle will originate roughly $1 billion of senior bridge loans in total. John Lippmann, an industry veteran and head of structured debt at REI, serves as the portfolio manager for the Fund. Mr. Lippman and his team have originated nearly $5 billion of structured loans since 2012 and have established a very strong track record and pipeline.

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