REAL ESTATE INVESTMENT
REZI | September 26, 2022
REZI, the pioneer of Occupancy-as-a-Service, has launched in Austin with a partnership with the city's leading developer, Rastegar Property Company. Rastegar is a technology-enabled private real estate investment firm focused on value-add and development in all asset classes throughout Austin and the Southwest US. The partnership between REZI and Rastegar was announced today by Sean Mitchell, Co-Founder and CEO of REZI.
This deal contracts over 200 apartments across 9 buildings with floor plans ranging from studios to 3-bedrooms in West Lake Hills, Mueller, Hyde Park, Highland Heights, Clarksville, South Austin. All units will be onboarded to REZI's innovative AI-powered leasing platform, where REZI will take ownership over all marketing and leasing providing Rastegar with a turnkey guaranteed leasing solution delivering higher asset NOIs across their portfolio.
"We are thrilled to be partnering with the "King of Austin Real Estate" not only because Austin is a key market for us, but Rastegar and REZI share the mission of using technology and innovation to make finding and acquiring housing fair, transparent, and accessible for everyone,"
- Mitchell,Co-Founder and CEO of REZI
We were immediately impressed with REZI and what they have provided the previous markets in which they've launched, In just a few years, they have become a highly reputable brand with nationwide outreach and a service that aligns perfectly with our needs and philosophy,said Ari Rastegar, Founder & CEO of Rastegar Property Company.
The announcement of this partnership coincides with REZI's launch of their Texas Headquarters at 1920 Mckinney Ave in Uptown, Dallas.
Founded in 2016, REZI leverages state-of-the-art leasing and financial technology to improve and optimize renters' leasing experience and improve property owners' leasing performance. REZI is a privately held company based in New York City.
About Rastegar Property Company
Rastegar Property Company is a technology-enabled private real estate investment firm focused on value-add and development in all asset classes throughout Austin and the southwest United States. Rastegar and its affiliates have co-invested in or directly own and operate over 13.8 million square feet of real estate across projects in 13 states and 35 cities. The firm specializes in acquiring complex or undervalued assets with opportunities to create value through repositioning, redevelopment, and/or improved operational efficiencies.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Keyway | November 02, 2022
Keyway, the technology platform that radically simplifies commercial real estate transactions, today announced the closing of its first multifamily acquisition in the Dallas-Fort Worth area, the 157-unit Lakeside on Spring Valley apartment community in Richardson.
The complex has 15 buildings with one- and two-bedroom residences, with an average unit size of about 800 square feet. It also has two resort-style swimming pools and frontage on a private lake. Its location at 1000 W Spring Valley Road offers easy access to both Interstate 635 and Highway 75 and a quick commute to some of DFW's major employment centers in Downtown Dallas, Plano, Allen, and McKinney. The Lakeside community will be rebranded after a $3 million renovation.
"We are excited to enter the Texas market with such a well-managed and well-known property. The fact that it has never traded before, coupled with the fact that the deal was transacted off market, are both a testament to how we are approaching multifamily and Texas overall. We want to be the best partner for owners and brokers who are serious about getting deals done smoothly and efficiently, and we expect this to be the first of many transactions for Keyway in the market."
-Matias Recchia, Keyway co-founder and CEO
Keyway dramatically simplifies CRE transactions by reducing costs by 50% and transaction time by 90%, benefiting brokers, sellers, and buyers alike. Keyway also fills an important gap for those institutional investors not structured to handle smaller deals, while at the same time providing a predictable and efficient process for every transaction.
Keyway's platform is built to provide creative and efficient real estate solutions to both investors and to smaller operators, We're seeing tremendous product-market fit and are excited to continue transforming real estate with technology,said co-founder and COO Sebastian Wilner.
Keyway is the company dedicated to building the new CRE ecosystem. They identify opportunities and run transactions smoothly providing an uncommonly simple experience for sellers of commercial real estate. The company launched in 2021 and is headquartered in New York.
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.