REAL ESTATE TECHNOLOGY

HouseCanary Recognized as a Leading Provider of Real Estate Valuations by Fitch Ratings

businesswire | November 10, 2020

HouseCanary Inc, a nationwide brokerage and leading provider of residential real estate analytics, home valuation tools and integrated customer engagement platforms, today announced that it has been recognized by Fitch Ratings as a top automated valuation model  provider for the second consecutive year. HouseCanary believes this recognition reflects the growing understanding across the residential real estate ecosystem of the necessity for more accurate AVMs. AVMs are used to estimate the ongoing market value of residential real estate, and help consumers, lenders and investors alike instantly and accurately assess the value of a property in a quick and cost-effective manner. Now more than ever, AVMs are driving innovation in the real estate and mortgage industries due to increased accuracy, innovation, processing power and the availability of robust data.

Spotlight

Across the economic landscape since the demise of Lehman Brothers in 2008, occasional signs of improvement in the global economies in recent years have contrasted with equally frequent setbacks and new challenges to market stability. With the hindsight of these last few years, the outlook for 2012 appears particularly cloudy, no matter the asset class or industry.

Spotlight

Across the economic landscape since the demise of Lehman Brothers in 2008, occasional signs of improvement in the global economies in recent years have contrasted with equally frequent setbacks and new challenges to market stability. With the hindsight of these last few years, the outlook for 2012 appears particularly cloudy, no matter the asset class or industry.

Related News

REAL ESTATE INVESTMENT

33 Holdings LLC & Beers Housing Inc., Merge Operations & Service Lines to create a Vertically Integrated Real Estate Platform.

33 Holdings, LLC | August 13, 2021

33 Holdings LLC announced the signing today of a merger agreement to acquire interest in Beers Housing Inc., a General Contractor and a leading service provider in mortgage field services, maintenance, rehab, construction and development in the southeast US. The M&A is expected to strengthen 33 Holding's vertically integrated real estate platform executing value-add and opportunistic real estate projects. "Joining 33 Holdings LLC is an incremental progression in our quest to build a world class mortgage field services and construction service business," commented Chad Beers, Founder & Chief Executive Officer of Beers Housing Inc. "As part of 33 Holdings LLC, we will be able to serve 33's existing portfolio as well as attract new industry-wide clients. This is truly an exciting relationship for our customers, vendors and employees and will help position our business for strong growth in the future," he stated. "This investment in Beers Housing Inc., presents a great opportunity for 33 Holdings LLC to add a leading mortgage field services & construction services business to our platform," stated Sanjay Raghavaraju, Founder & Chief Executive Officer of 33 Holdings LLC. "With this merger, it will create a fully functional private equity real estate company that will create higher returns and faster delivery of real estate projects to our clients," stated Corey Oldknow, Broker & Chief Acquisitions Officer of 33 Holdings LLC. Under the terms of the agreement, Beers Housing Inc., will operate under the Beers Construction Partners (BCP) name and under the current leadership. In addition, Heather Beers, Managing Partner of Beers Housing Inc., will take on the role of Chief Operating Officer (COO) at 33 Holdings LLC & Beers Housing Inc., helping with the integration of the two companies while ensuring value to Investors and Clients over the next few months. Both Chad Beers & Heather Beers will join Corey Oldknow & Sanjay Raghavaraju as Principals of 33 Holdings LLC. "Beers Housing Inc., is excited to join the 33 group of companies," said Heather Beers, Managing Partner of Beers Housing Inc. "Our respective cultures, goals and investment philosophies are very much aligned. Beers Construction Partners (BCP) will remain a leading Mortgage Field Services & Construction Services firm, now benefiting from the support of 33's significant financial and operational resources. The partnership with 33 ensures that BCP's principals will remain majority-owners of the firm. With this integration, we see a growth opportunity given the seismic shifts in the real estate market, which our partners and staff will thrive, enabling us to better serve our investors and impact the communities we operate in." About 33 Holdings LLC (33) 33 Holdings LLC specializes in real estate investment, acquisition, development, construction and asset management across the Southeast US with a concentration on primary and secondary markets. Sanjay Raghavaraju founded 33 Holdings LLC on the premise that investment in real estate should be driven by sound market fundamentals, a flexible time horizon and strong alignment of interest between investors and managers. 33 Holdings has a strong track record of driving investment results. 33 Holdings differentiates itself by providing hands-on real estate investment management, creative deal structuring, and transparent communication with investors. About Beers Construction Partners (BCP), Beers Construction Partners specializes in maintaining and adding value to bank and investor assets throughout the Southeast by using a hands-on approach with a hybrid employee/subcontractor base model. Chad Beers, founded Beers Housing in 2007 with a strong focus on the mortgage field service space as well as fix and flip and has been able to adapt to various services lines with the strong leadership and client relationships brought in by Heather Beers to not only meet but exceed the industry and economical needs in the housing market. Beers Housing now has multiple service lines to include mortgage field services, maintenance, rehab, ground up construction and development.

Read More

REAL ESTATE TECHNOLOGY

Dubai-based DAMAC Properties makes foray into US real estate market with ultra-luxurious CAVALLI branded Miami condos

DAMAC Properties | May 30, 2022

UAE-based DAMAC Properties has announced that it has won the US $120 million bid to acquire land in the upscale Miami neighbourhood of Surfside. The Dubai-based developer plans to build an ultra-luxurious, CAVALLI branded condominium project. The property, on Collins Avenue, offers residents 200 feet of direct beach frontage and access to South Beach and Bal Harbour. The land, comprising 1.8 acres, was sold to DAMAC for $120 million through the court process. DAMAC Properties has long been eyeing development opportunities in Miami. We see the city, which is known for being a luxury and fashion centre, as a natural fit for our Company, which has an established reputation for its branded luxury offerings." Hussain Sajwani,DAMAC Chairman and Founder Surfside, in recent years, has become a hotspot for ultra-luxury condominium developments, including the Four Seasons Private Residences, the Fendi Chateau Residences, and the Arte Surfside buildings. The town also has a collection of high-end hotels, including the Four Seasons, the St. Regis Bal Harbour, and the Ritz-Carlton Bal Harbour and its primary shopping area, the Bal Harbour Shops, is known throughout Miami as a luxury shopping destination. DAMAC Properties, known for its luxury real estate offerings both regionally and globally, is rapidly expanding its global footprint such as its flagship project in Europe — DAMAC Towers Nine Elms in the prestigious Zone 1 district of London with Versace interiors. The Surfside project will be DAMAC's first in the United States. The Company's consistent success over the years, and more recently on the tailwinds of Dubai's stellar economic performance and forecast, has propelled it to eye various global opportunities for development and growth. It is developing a luxury resort in the Maldives to be operated by global hotel brand Mandarin International and has already projects in Canada, the UK and across the Middle East. In 2021, DAMAC Properties launched two projects in Dubai, DAMAC Lagoons, the developer's third master community in Dubai, and Cavalli Tower, an ultra-luxurious 70-storey tower overlooking Palm Jumeirah, with Cavalli-branded interiors. Both projects have seen great customer interest and demand. "Our global expansion into the United States marks a major milestone and demonstrates that DAMAC is a force to be reckoned with. This is an exciting time, and we have a lot in store," Sajwani said. "We are rapidly growing, not only in our real estate endeavours but in various sectors such as fashion, hospitality and even emerging industries such as the Metaverse, NFTs and data centres. This enables us to stay ahead of the curve," he concluded.

Read More

REAL ESTATE TECHNOLOGY

Blackstone Real Estate announces the acquisition of the Brookfield Fund Fund's Premier Lab Office Portfolio

businesswire | December 14, 2020

Blackstone (NYSE: BX) today declared that Blackstone Property Partners Life Sciences ("BPPLS") will obtain a best‐in‐class, 2.3 million square foot arrangement of lab places of business from a Brookfield Asset Management land reserve for $3.45 billion. BPPLS is Blackstone Real Estate's long haul, ceaseless capital, core+ return life sciences procedure that claims BioMed Realty, Blackstone's life science land portfolio organization. The exchange is relied upon to shut in the main quarter of 2021 subject to standard shutting conditions. Around 90% of the portfolio being procured is gathered in Cambridge, Massachusetts. Following the consummation of the exchange, Blackstone will turn into the biggest life science office proprietor in Cambridge, and BioMed Realty, which will have an undertaking estimation of roughly $20 billion, will have 66% of its foundation packed in the Boston/Cambridge market. Cambridge is one of the quickest developing lab office submarkets in the nation because of its nearness world-driving scholastic establishments and the biggest bunch of drug organizations in the U.S. The Cambridge portfolio is situated in East Cambridge, straightforwardly adjoining the Massachusetts Institute of Technology, and is rented to blue-chip occupants. “This transaction illustrates Blackstone’s continued conviction in the life sciences space both broadly, and within real estate, investing in best-in-class assets located adjacent to top-tier research and education institutions,” said Nadeem Meghji, Head of Real Estate Americas. “We look forward to continuing to grow the platform with the help of BioMed Realty, our world-class life science office platform, with the goal of delivering value to our long-term investors.” This procurement follows various other critical Blackstone interests in treatments and advancements in the existence sciences space past the company's interests in land. The firm dispatched Blackstone Life Sciences in 2018 to put straightforwardly in promising meds and innovations. In July, Blackstone raised the biggest life sciences private asset to date, and the firm has additionally made significant interests in Cryoport, a main supplier of temperature-controlled coordinations answers for the existence sciences industry, and Precision Medicine Group, a main cutting edge supplier of medication improvement and commercialization administrations. Deutsche Bank Securities Inc., Morgan Stanley and Co. LLC and Wells Fargo Securities LLC are filling in as monetary counsels to Blackstone, and Simpson Thacher and Bartlett LLP is filling in as lawful guide. Eastdil Secured is filling in as lead monetary guide to Brookfield, and Skadden, Arps, Slate, Meagher and Flom LLP is filling in as lawful counsel. Citigroup Global Markets Inc. likewise offered monetary warning types of assistance to Brookfield regarding the exchange.   About Blackstone Real Estate Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has $174 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, multifamily and single family housing, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ strategy invests in substantially stabilized real estate globally through regional open-ended funds focused on high-quality assets and Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT that invests in U.S. income-generating assets. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust

Read More