Hometap Raises $100M to Expand Nationally, Invest in Residential Real Estate

Hometap | December 11, 2019

Boston-based homeownership investment startup Hometap raised $100 million in a new round of funding. The financing was led by ICONIQ Capital, with participation from current investors: General Catalyst, G20, Pillar and American Family Ventures, the venture arm of AmFam Insurance. Hometap is led by co-founder Jeffry Glass, the former managing director at Bain Capital and co-founder of esports company, NRG eSports. The startup lends homeowners cash in exchange for an agreed-upon percentage of the future value of their home.

Spotlight

Hey guys it’s Cody Sperber the Clever Investor here and today I want to talk to you about hiring in-house team members. It’s something I’m currently dealing with in my real estate business so I thought I would share a bit on the topic.

Spotlight

Hey guys it’s Cody Sperber the Clever Investor here and today I want to talk to you about hiring in-house team members. It’s something I’m currently dealing with in my real estate business so I thought I would share a bit on the topic.

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REAL ESTATE TECHNOLOGY

The first closure of its new USD 500 million office development platform was announced by Godrej Fund Management

prnewswire | January 18, 2021

Godrej Fund Management ("GFM"), the land private value arm of the Godrej Group, declares the First Close of its USD 500 million office improvement stage, GBTC II in association with Netherlands based APG Asset Management N.V. ("APG"), the foundation financial specialist in the stage. Under this program, GFM will be able to create Class-An office resources that will be esteemed in abundance of USD 1.5 billion (~INR 11,000 crore) on finishing and the all out estimation of office resources including those from past assets will take the portfolio esteem on fruition to over USD 3 billion (~INR 22,000 crore). GFM has completely contributed the recently raised capital under GBTC I and Godrej Office Fund I. GBTC is a 'club-style' office speculation system that puts resources into creating top notch places of business in ideal spots across the main office markets in India. The stage as of now has a solid venture pipeline and means to convey the recently raised capital inside a year. This is the third India centered office adventure and fifth by and large, supported by GFM. Mr. Karan Bolaria, Managing Director & CEO, Godrej Fund Management, said, "We are pleased to partner with APG on our second build to core platform. Our Group has strong conviction in India's premium office sector and we believe the current dislocation in markets provides attractive capital deployment opportunities. The addition of this platform brings significant scale to our overall strategy and will open up strategic avenues for value maximization in the future." Mr. Graeme Torre, Managing Director, APG Asset Management Asia, said, "We are looking forward to another successful partnership with Godrej. The build-to-core strategy for Indian offices aligns very well with our broader investment aspirations for our pension fund clients and our desire to invest alongside partners who offer best-in-class execution capabilities." About Godrej Fund Management Godrej Fund Management, based in Singapore, is the real estate private equity arm of the Godrej Group. GFM brings the Godrej Group's philosophy of good governance, innovation, sustainability and excellence to the real estate private equity space. It seeks to provide strong risk adjusted returns to its partners through the strategic combination of world class investment management and development management capabilities. About APG Every day APG is busy with something that already concerns millions of Dutch people and one day will concern millions more: pensions. APG strives to provide a good pension in a livable world for all participants, employers and pension funds. Together we work on a sustainable future in which we do not only look at prosperity, but also at well-being. Because pensions are about people, life and how we live together. So that we, our parents, and our children can enjoy a good income. Today, tomorrow, and beyond. As the largest pension provider in the Netherlands APG looks after the pensions of 4.7 million participants. APG provides executive consultancy, asset management, pension administration, pension communication and employer services. We work for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects. APG manages approximately €560 billion (November 2020) in pension assets. With approximately 3,000 employees we work from Heerlen, Amsterdam, Brussels, New York, Hong Kong, Shanghai and Beijing.

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REAL ESTATE INVESTMENT

JLL Income Property Trust Acquires Suburban Chicago Distribution Center

JLL Income Property Trust | January 14, 2022

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $5.9 billion in portfolio assets, today announced the acquisition of Elgin Distribution Center, a Class A, two-building industrial property totaling 407,000 square feet and located in the northwest Chicago suburb of Elgin, Illinois. The purchase price was approximately $47 million. The Elgin Distribution Center fits squarely within our industrial investment thesis as a well-located, newly constructed property with strong tenant profiles, The Elgin warehouse submarket stands out for its access to a robust labor pool and close proximity to Chicago, along with O'Hare International Airport, which we believe will drive long-term value for these properties. Industrial remains an overweight target for our portfolio given our belief that it will provide strong, long-term cashflow to our diverse portfolio. Our aggregate industrial allocation is now over $1.7 billion, or approximately 30 percent of our $5.9 billion portfolio, and includes 54 properties across 13 key markets." Allan Swaringen, JLL Income Property Trust President and CEO. Recently constructed in 2020, the properties are built to state-of-the-art design specifications. The larger building, which totals over 326,000 square feet, is cross-docked with 33-foot clear heights. The smaller building, which totals more than 80,000 square feet is rear docked and has 29-foot clear heights and includes a front-office. The properties are 100 percent leased with a weighted average lease term of approximately 10 years. According to LaSalle Research & Strategy, the Chicago metro is the country's second largest industrial market, with 1.2 billion square feet of industrial space. Chicago's central location, proximity to irreplaceable transportation infrastructure and access to a large population make it a critical hub for national distributors. Over the four quarters ending in Q1 2021, Chicago's industrial market experienced 18.5 million square feet of net absorption and a steady decline in vacancy rates. Chicago also has the highest going-in yields of any gateway industrial market in the U.S. The Elgin Distribution center also benefits from access to a growing population and large labor pool, as well as excellent access to major transportation nodes including Interstate 90, Route 31, Randall Road and Route 47. JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world's leading real estate services firms. About Jones Lang LaSalle Income Property Trust, Inc. Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, grocery-anchored retail, healthcare and office properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. About LaSalle Investment Management LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages over $76 billion of assets in private and public real estate property and debt investments as of Q3 2021. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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Aires Selects Offerpad's Real Estate Solutions to Streamline Relocation Process

prnewswire | October 13, 2020

Jointly announced today, Offerpad, an industry leader aiming to provide the best way to buy and sell a home, and Aires, a global and domestic relocation solutions and mobility program management organization, enter into partnership to provide multiple real estate solutions to consumers relocating for business in more than 830 U.S. cities.The first-of-its-kind agreement incorporates Offerpad's suite of real estate solutions including instant cash offers within 24 hours and Offerpad's Superior Listing option to relocation packages where there is no home buyout offered. The solutions will be available to select Aires clients and transferees beginning in October 2020 and introduced to additional clients throughout the remainder of the year.

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