REAL ESTATE TECHNOLOGY
letus (previously RentMoola) | June 02, 2022
Furthering efforts to help renters balance their paychecks and landlords to collect rent on time, letus (previously RentMoola), an award-winning FinTech platform, announces its partnership with MRI Software, a global leader in real estate technology. The partnership enables commercial and residential real estate companies to streamline the payments process and offer an innovative, flexible payment experience for customers.
MRI's partnership with letus will give our Canadian community of renters and landlords easier access to a world-class payments platform. The integration will enable flexible payments, which can be a key differentiator in today's market."
Sean Slack, VP of Partner Connect at MRI
letus integrates with MRI LivingTM residential management suite and MRI @WorkTM commercial management suite of products to improve the payment experience by reducing manual entry to increase reliability and security. MRI clients now enjoy enhanced experiences through:
Streamlined experience with MRI Resident Connect and Tenant Connect
Real-time transaction reconciliation
Flexible payments and credit reporting to increase credit scores
Automated SMS messaging and payments via TXT2PAY
The partnership is a step forward in delivering comprehensive and simple solutions that empower landlords to get real-time transaction information while providing flexible payment solutions to customers. Now, MRI clients can access more payment options, financial tools, enhanced communication, and more.
"Modern property management requires real-time management," shares Karthik Manimozhi, CEO of letus. "This integration brings ultimate convenience to landlords, providing them automation and data-driven insight to provide value to their tenants."
A disruptive cloud platform offering flexible rent payments with credit reporting that empowers renters to better balance their paychecks while landlords achieve predictable and scalable on-time revenue streams. letus has processed $2Billion transactions with 2Million+ individual transactions.
About MRI Software
A leading provider of real estate software solutions that transform the way communities live, work and play. MRI's open and connected, AI-first platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through innovative solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to realize their vision of building thriving communities and stronger businesses.
REAL ESTATE TECHNOLOGY
Ready Capital | July 14, 2022
Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced Starz Real Estate (Starz), a pan-European commercial real estate lending platform has formed a new joint venture with Ready Capital Corporation (NYSE: RC), a commercial mortgage REIT headquartered in New York, to originate circa €300m of new commercial real estate loans over the next two years.
The new joint venture will focus on deploying commercial real estate bridge and term loans between €10m and €40m in size across the UK, Benelux, Dach Region, Italy and Portugal with up to 75% LTV across sectors including office, residential, mixed use, student housing, logistics, self-storage, and selective retail and hotel opportunities. The joint venture can also offer construction lending in the above mentioned continental European locations.
The deal reflects further institutional confidence in Starz, following backing from a Middle East Sovereign Wealth Fund at the end of last year to originate €900m of loans with the latest transaction in that fund comprising a €68.5m senior facility to Union Street Investments for a multi-office investment platform in the Netherlands.
"This partnership with Ready Capital will significantly expand our capability to service the increasing demand for agile, mid-market capital across the UK and Europe, bolstering our existing lending strategy."
David Arzi, CEO of Starz
"We are working in a challenging yet exciting landscape in the wake of the pandemic, with new opportunities as assets change hands or need repurposing to suit new demands. We are pleased to have an institutional investor of this calibre backing us, with our streamlined underwriting processes ensuring we can take capital to market in an efficient and decisive manner."
"This new JV partnership with Starz follows through on our commitment to expand Ready Capital's commercial real estate lending business internationally," said Thomas Capasse, CEO of Ready Capital. "With a history of sourcing high quality loans from strong sponsors, the team at Starz has an investment philosophy that aligns well with the credit foundation of Ready Capital's lending strategies, plus they share our hands-on approach to loan servicing and asset management." Ready Capital is externally managed by Waterfall Asset Management, LLC.
Launched in July 2018, Starz is a commercial real estate lender focused on middle-market loans throughout Europe. With a balance sheet built for the long haul, Starz is a flexible and reliable source of capital for real estate investors. Starz provides collaborative lending solutions coupled with streamlined underwriting processes that ensures seamless service. https://starzrealestate.com/
About Ready Capital
Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including multifamily agency, stabilized and bridge financing, as well as government guaranteed business loans. Ready Capital and its affiliates also provide alternative lending, construction lending, and low-income housing finance as well as residential mortgages. Headquartered in New York, Ready Capital employs more than 600 lending professionals nationwide. The company is externally managed by Waterfall Asset Management, LLC.
REAL ESTATE INVESTMENT
The Instant Group, Incendium and Capstan Advisors | August 17, 2022
Workspace and strategy consultancy Incendium Consulting, part of the global workspace innovation firm The Instant Group, has acquired Capstan Advisors. As the shift to hybrid work environments has challenged businesses cross-functionally, Fortune 1000 companies look to Incendium and Instant for smarter working strategies. This alliance strengthens Incendium's global reach and accelerates its U.S. growth strategy to help enterprise corporations with organizational and functional strategy.
Leaders need flexibility and smarter working practices to address ever-changing workplace dynamics, particularly in this pivotal moment of change, As part of the world's largest global flexible marketplace, we work with business and corporate real estate leaders to challenge traditional approaches to real estate and evolve workplace models that deliver smart work solutions. Capstan Advisors will ignite Incendium's U.S. expansion plans for our real estate advisory services practice. Their experience and strength in corporate real estate consulting, procurement and strategy brings depth of capability and additional blue-chip clients to the group,said Mike Perkis, Global Head of Incendium Consulting.
Headquartered in the U.S., Capstan Advisors is a leading provider of organizational design, outsourcing process management, contract negotiation, and transition support for the full spectrum of corporate real estate services for global Fortune 1000 companies. Like Incendium, they work with some of the largest firms in pharmaceutical, technology, manufacturing, financial services and telecom/media services.
"Corporate real estate executives face tremendous challenges today, with the changing nature of work and renewed pressure to reduce costs, Incendium expands both our global reach and the services we can offer to our clients, from our core business of operating model and procurement to Incendium's other advisory areas such as sustainability, executive recruiting and workplace strategy advisory services."
-Paul Garity, one of Capstan's partners
Garity and his partners, Sherri Parman, John Davis, and Kent Wiegel are all seasoned corporate real estate executives with hands-on experience managing corporate real estate as both corporate real estate executives and service providers. Since inception, Capstan has completed advisory assignments for over 100 corporations with real estate portfolios in the Americas, EMEA and Asia.
About The Instant Group
The Instant Group has been rethinking workspace since 1999 with over 500 experts working globally across more than 175 countries. Instant's digital platforms constitute the world's largest digital marketplace for flexible workspace listing meeting rooms, virtual offices, flexible office space and coworking memberships. Its global team advises on commercial real estate solutions from serviced offices to fully customized managed offices, and consulting services for portfolio and net zero strategies. Instant's approach enables agility, hybrid working solutions and improved operational resilience for more than 250,000 businesses every year. Clients include Amex, Prudential, Booking.com, Shell, Jaguar Land Rover and GSK. Instant has global offices including London, Paris, New York, Hong Kong, Singapore and Sydney.
Incendium is a leading global corporate real estate consultancy business that partners with occupiers to support and enable their business performance through its core service lines of Strategy & Change, Operating Model and Procurement, and Sustainability. Incendium works with a range of significant blue-chip global clients across many sectors to use real estate as a catalyst for agility, performance, and value. As part of The Instant Group, it works together with colleagues from across the business to devise and implement innovative agile workplace strategies and solutions for all clients.
About Capstan Advisors
Capstan Advisors, founded in 2007, is a leading consulting firm in the U.S. dedicated to advising corporate real estate and procurement executives of global companies on best practices for corporate real estate organizations, operations and service delivery. Capstan's primary consulting services include organizational transformation, outsourcing consulting, ongoing contract governance, transition implementation, and performance management. Capstan assists clients across the spectrum of services including facilities operations, transactions, project management, lease administration, and a variety of other corporate services.