REAL ESTATE INVESTMENT, MORTGAGE AND LENDING
Gantry | January 23, 2023
Gantry, the largest independent commercial mortgage banking firm in the United States, recently informed that it produced $4.93 billion in commercial mortgages in 2022.
Meanwhile, even in 2021, Gantry had produced about $5.15 billion despite economic instability. It has broken records in the last three decades, completing the second-best production of commercial mortgage banking operations.
Jeff Wilcox, Principal of Gantry, said, "Last year was a tale of two halves, where after record setting Q1 and Q2 production totals, the market slowed for price discovery during the second half of the year. Despite the challenges, we have an experienced team that has successfully navigated cycle shifts in the past and operates proactively from that perspective."
(Source - Business Wire)
With $17.5 billion in national-level business in 2022, Gantry has no failed or missed transactions in asset types. This performance led to active interactions with clients as the originator and service provider, an actual rating at the time of placement, and a consultative role in choosing the best financial plan for the client's unique investment objectives. In addition, it examines every investment keenly for variations in performance, maturities, and tenant rollover at the annual assessments.
In 2022, Gantry provided 476 loans, including every type of commercial asset class. Around 85% of Gantry's 2022 production was financed by life insurers, regional banks, and credit unions, with each type of lender performing better for various borrowers. In terms of asset classes, Gantry continues to secure office, retail, and lender-preferred industrial and multifamily loan deals. In addition, Gantry successfully funded specialty assets, such as healthcare and self-storage, through various correspondent or associate lenders.
Gantry, a San Francisco-based private mortgage bank, has many correspondent lenders that use its production, closing, and servicing services. The company, founded in 1991, has approximately 100 employees in regional offices in the western US and New York and over 45 production teams that generated nearly $5 billion in the past year. The $17.5 billion nationwide servicing platform covers over 2,000 loans in 43 states. It is one of the few non-banking, non-insurance chartered companies with a Primary Servicer rating from Standard & Poor's.
REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT
Altisource | December 07, 2022
Altisource, an integrated service provider and marketplace for the real estate and mortgage industries, has launched NestRange as a cost-effective, data-informed Automated Valuation Model that estimates the value of residential properties. This SaaS product leverages a national property database, geospatial comparable data, machine learning and AI to help real estate professionals, investors and financial institutions make decisions with confidence.
The NestRange AVM is a fully interactive tool that estimates the value of single-family homes, condominiums, townhomes, and multifamily/apartments. The service draws from a robust data set of more than 150 million properties including over 750,000 active property listings. NestRange users have control over a variety of parameters including valuation input variables, property conditions, and the ability to select specific comparables used in the AVM calculation.
The platform’s features don’t stop there – NestRange AVM reports include the NestRange Confidence Score, historical trends, detailed local market analysis and the ability to process AVMs in bulk. The NestRange Valuation API provides online integration and the ability to tap into the vast data and analytics within NestRange. Explore comparables, market information, trends, and more within your own environment.
“NestRange offers essential tools to real estate professionals looking for AVMs they can trust – including the ability to get better insights into both distressed and non-distressed property valuations, We’re proud to have created a SaaS product that is so uniquely customizable.”
-Israel Meir, Chief Strategy and Technology Officer
The NestRange property AVM platform complements Altisource’s industry leading RentRange rental AVM service that has been providing rental data to investors and financial institutions for over a decade.
Interested parties can visit NestRange.com to create customized property valuation reports now or to request a personalized demo.
NestRange is an Interactive AVM Solution for the Real Estate & Financial Industries. NestRange provides an automated valuation model that estimates the value of single-family homes, condominiums, townhomes and multifamily apartments. NestRange is the latest addition to the Altisource suite of appraisal and valuation products and services.
Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing markets we serve.
MARKET OUTLOOK,REAL ESTATE INVESTMENT
Northwood Investors | November 23, 2022
Global real estate investment firm Northwood Investors LLC announced today its acquisition of Fifth + Broadway, a newly developed 6.2-acre mixed-use, open-air center. The property was developed and operated by Brookfield Properties, which completed construction in 2021. Northwood has purchased the property in its entirety, including its retail district, 501 Commerce office tower and The Place residences, from a subsidiary of Brookfield.
As Northwood expands its footprint in Nashville with this prized entertainment complex, it looks forward to furthering Brookfield's vision for the center. Northwood is well-positioned to take the reins in managing the project with its vertically integrated platforms and experience with retail and mixed-use assets. Most of Fifth + Broadway's management team have transitioned to Northwood and will continue in their existing roles, bringing their strong local experience and knowledge to the property.
Northwood is already deeply involved in the Nashville market; this latest acquisition marks the fifth asset the firm has invested in within the city. Other properties include The Conrad hotel, Capital View apartments, the McEwen Northside mixed-use center and Franklin Park office towers.
"We feel that Fifth + Broadway's energy and integration in the heart of downtown is unparalleled, As a mixed-use asset, all its elements work together cohesively, and Brookfield has done a phenomenal job with its development. Our Northwood management team is excited to carry on the torch, engage with the city, and partner with tenants like The National Museum of African American Music, AllianceBernstein, The Twelve Thirty Club, Assembly Food Hall and more."
-Managing Director of Northwood Investors Erin Cannata
Centrally located within Nashville's vibrant urban core, Fifth + Broadway is one of the largest single-phase mixed-use developments in the history of the city and the state of Tennessee. The revolutionary downtown project, which replaced the 6.2-acre Nashville Convention Center site, delivers 250,000 square feet of strategically selected retail and entertainment, the 56,000-square-foot National Museum for African American Music, 367,000 square feet of Class-A office space at 501 Commerce, 381 residential units at The Place at Fifth + Broadway and more than 2,000 parking spaces. The project, which sees nearly five million annual visitors, was built for a post-COVID-19 world with outdoor space, accessibility, safety and parking in mind.
We feel Nashville is a high-growth market, and one that we have been watching since 2011, It's an 'it' city for business and entertainment and Fifth + Broadway epitomizes Nashville – a world-class, generational asset that draws locals and tourists alike. We believe the attention to detail, aesthetics and connectivity are unmatched, making it a transformative catalyst for the fabric of lower Broadway,said President of Northwood Retail Ward Kampf.
Northwood is committed to the city of Nashville, which it values for its diversified economy, one-of-a-kind cultural authenticity, attractive cost of living, and premier talent base, which has transformed the city into a 24/7 destination. The firm looks forward to collaborating with the city, its retail and office tenants, and the National Museum for African American Music as it evolves this asset, which is seamlessly integrated into the streetscape and cultural heart of Downtown Nashville.
Fifth + Broadway is a thriving mixed-use complex, and we are very proud of its development and success as a major destination in and economic driver for Nashville, While Brookfield has successfully recapitalized the asset in line with its overall investment strategy, we remain very interested in Nashville and excited about its future,said Burgin Dossett, vice president of development for Brookfield Properties.
About Fifth + Broadway
Owned and operated by Northwood Investors, Fifth + Broadway is one of the largest single-phase mixed-use developments in the history of Nashville and the state of Tennessee. The transformative downtown project, which replaced the 6.2-acre Nashville Convention Center site, delivers 250,000 square feet of strategically important retail and entertainment, the 56,000-square-foot National Museum for African American Music, 367,000 square feet of Class-A office space at 501 Commerce (headquarters of AllianceBernstein), 381 residential units at The Place at Fifth + Broadway, and more than 2,000 parking spaces.
About Northwood Investors
Northwood Investors LLC is a privately held real estate private equity firm that owns and operates real estate across the U.S. and Europe. The firm currently manages a portfolio aggregating approximately $20 billion in total gross asset value. Northwood's flagship fund seeks to opportunistically acquire well-located real estate with a plan to create value through hands-on asset management. Northwood is vertically integrated with in-house operating teams across the office, multifamily, retail, hospitality, and urban logistics sectors.
About Northwood Retail
Northwood Retail LLC was established by Northwood Investors, a privately held, global real estate investment and management firm. The platform currently leases, manages, and markets a portfolio of community and mixed-use properties across the United States with a concentration in Texas, Colorado, North Carolina, Tennessee, and California. Built upon strong, fundamental real estate principles, Northwood Retail is focused on creating value at each project through a disciplined approach to leasing, development, property management, and marketing.
About Pacific Life
For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life counts more than half of the 100 largest U.S. companies as its clients and has been named one of the 2022 World's Most Ethical Companies® by the Ethisphere Institute.