REAL ESTATE INVESTMENT
Mission Rock Residential | May 06, 2022
Mission Rock Residential, LLC, a Denver-based multifamily property management company, is pleased to announce its newest management contract for The Tala at Washington Hill Apartments in Baltimore, Maryland. The apartments were formerly operated under the name of Jefferson Square at Washington Hill. Mission Rock was issued the management deal by Hamilton Zanze Real Estate Investments.
The Tala at Washington Hill is another wonderful fit for the Mission Rock portfolio. The community is in a vibrant neighborhood in downtown Baltimore, and we are excited to provide the current and future residents with our award-winning property management service."
Meredith Wright, CPM, CAPS, President of Mission Rock Residential
The community offers 304 apartment homes and is located in Downtown Baltimore, near Johns Hopkins Hospital. The Tala at Washington Hill includes studio, one and two -bedroom apartment homes, each with a luxury feel thanks to high ceilings and state-of-the-art appliances. Residents will enjoy being conveniently located in the heart of Downtown, an onsite dog park, a resort-style swimming pool, and two courtyards with grilling stations and water features.
The community is also home to retail shops, restaurants, and a bank, all located on the ground floor of the building.
The Tala at Washington Hill is situated in the highly desired Washington Hill neighborhood and is just minutes from the Fells Point, Canton, and Harbor East neighborhoods, all known for their trendy events and retail offerings. Highway 40, which runs east to west, and I-95 which runs north to south, are also close by for easy commuter travel around the metro area.
Baltimore is the largest city in Maryland with lots of cultural and historical attractions. It's best known for its historical sites, including the George Washington monument. The area has a strong economy made up of universities, healthcare facilities, retail companies, and government entities. Johns Hopkins University and Hospital, the Social Security Administration, and Centers for Medicaid and Medicare are just a few of the most notable employers in the area.
About Mission Rock Residential
Mission Rock Residential was established in 2012. The company now manages 167 multifamily properties and more than 31,000 residential units across the United States. With more than 700 full time team members, the company is headquartered in Denver, Colorado with regional offices in Phoenix and Atlanta. The company was also named one of the Best Places to Work by the National Apartment Association in 2021.
REAL ESTATE TECHNOLOGY
Barings | June 22, 2022
Barings, one of the world's largest diversified real estate investment managers, along with Phase 3 Real Estate Partners and Bain Capital Real Estate, announced its joint venture has signed its first tenant to Genesis San Diego, a premier Class A life science building in Downtown San Diego, California.
Formerly known as The Thomas Jefferson School of Law, this approximately 203,000 square foot, 8-story office building located at 1155 Island Avenue has been transformed into a state-of-the-art life science property. Modifications and improvements include upgraded HVAC and plumbing infrastructure (including VRF heating and cooling systems, new exhaust fans, 100% outside air for lab areas, and needlepoint bipolar ionization) along with a new 5,000 lb. service elevator and upgraded lab floor loads. Additional enhancements include a new lab services facility with a glass wash, autoclave and staffed shipping and receiving room, a top floor lounge and event space, and ready-to-occupy 'spec suites' consisting of 50% lab / 50% office built out in various sizes throughout the building.
Barings is excited to lead the life science migration to Downtown San Diego, giving tenants a highly amenitized work, live and play environment. Greater San Diego is an undeniable life sciences global capital and we continue to hear from life science leaders interested in a downtown, urban destination. This investment is a prime example of Barings' value-add real estate investment strategy focusing on creating unique, competitive assets that attract innovative tenant demand."
Joe Gorin, Managing Director, Head of US Acquisitions and Portfolio Management for Barings
"Delivering premier Class A research ready life science environments that meet the needs of visionary companies continues to be our focus," added BJ Van Aken, Executive Vice President, West and Head of Portfolio Operations for Phase 3 Real Estate Partners. "As a key component of our Genesis portfolio, Genesis San Diego sits at the forefront of life science assets in greater San Diego, and provides the modern design and opportunities for innovation that will bring tenants to this exciting downtown location."
Life sciences are a major driver of San Diego's innovation economy. The region is home to more than a thousand life sciences companies, and as the third largest life sciences cluster in the nation, demand for high-quality lab space in greater San Diego continues to increase. While suburban Torrey Pines and Sorrento Mesa have historically answered the call for life science asset needs, Downtown San Diego is poised to be the next life sciences node for greater San Diego given its unmatched amenities, proximity to the popular Gaslamp Quarter and Petco Park, key connections to the existing scientific community such as the new UCSD satellite building, and commutability via the extension of the Blue Trolley line.
"Downtown San Diego has all the building blocks for a successful life science industry cluster," added Betsy Brennan, President & CEO of the Downtown San Diego Partnership. "Our community has long known this and our 2021 Demographic Study proves it. Whether it's the highly skilled talent living here, a lifestyle that can't be beat, connectivity to our regional ecosystem of innovation, or new projects like Genesis San Diego that offer quality lab and office space, Downtown is where dreams are becoming reality."
Genesis San Diego represents a commitment to sustainability, tenant health and wellness, and digital connectivity. The development includes smart building systems, green design elements, and is currently LEED-Gold.
Barings is a $371+ billion global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment.
Genesis is a life science real estate brand that leverages the deep experience and global breadth of its owners' partnership to create an environment focused on meeting the needs of its tenants to accelerate their ground-breaking discovery. Genesis' owners unique integrated venture combines Phase 3 Real Estate Partner's decades of life science real estate development and tenant experience with Bain Capital's pioneering value-add investment approach and the firm's decades of leading experience in the Healthcare and Life Science industry. At Genesis, we relentlessly pursue not only to provide the right environment today but through our deep industry partnerships and participation provide the best environment for cultivating tomorrow's undiscovered advances in science.
About Phase 3 Real Estate Partners
Phase 3 Real Estate Partners, Inc., develops premier ready to occupy research and development facilities in the major innovation clusters of the United States. Phase 3's focus on delivering the highest quality space with accelerated speed to occupancy within these key geographies allows companies to immediately pursue their scientific goals. The Phase 3 team delivers a clean, modern design aesthetic, the right combination of amenities to create community and appropriate infrastructure to meet the needs of the companies who call our facilities home. The firm's expertise in development, construction and management of life science facilities results in a strong partnership between our tenants and our team. Phase 3's current portfolio consists of nearly 4.5 million square feet and is growing in San Diego, San Francisco and Boston.
About Bain Capital Real Estate
Bain Capital Real Estate was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested and committed more than $6.8 billion of equity in more than 550 assets across multiple sectors, including more than $1.7 billion in over 6.8 million SF of life sciences assets. Bain Capital Real Estate focuses on small to mid-sized assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate's strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm's global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities.
REAL ESTATE TECHNOLOGY
EY | July 21, 2022
The EY organization today announces an alliance with Planon, a market leading smart sustainable building management solution provider, and EY Advisory Netherlands LLP (EY Netherlands), to help businesses optimize their real estate and workplace strategies in achieving growth, long-term value and sustainability. The alliance has been activated in the Netherlands and the US with additional global expansion planned over time.
As corporate offices play an enormous role in reaching a net-zero future, real estate managers are under increasing pressure to be transparent about the energy and sustainability performance of their building portfolios and to identify areas for improvement. The EY-Planon Alliance brings clients options for a seamless experience to fulfil their real estate and digital workplace needs with a focus on innovative technology and efficacy in implementation.
This alliance supports client efforts to navigate the increasingly complex digital workplace, smart building and workplace experience arena with actionable and meaningful insights from the EY organization, combined with Planon's integrated workplace management solution (IWMS) and internet of things (IoT) platform. As leaders in the real estate consulting and technology marketplace, EY teams bring deep knowledge of real estate, workplace and facilities, and extensive experience in lease accounting and software implementation across a global footprint.
Through the alliance offerings, clients will also be supported to meet compliance with lease accounting standards and create greater efficiency in portfolio management and process quality, which measurably helps reduce costs and contributes to the organization's overall performance.
Bernd Kramer, EY Global Planon Alliance Leader, says:
"The EY-Planon Alliance brings together the digital tools, systems and implementation experience of EY teams and Planon to support organizations seeking a comprehensive solution depot to reshape their real estate and facilities digitally. The alliance helps reduce the complexity arising from independent siloed systems through unified integrated platforms, helping organizations make better decisions, and act quickly and sustainably to develop a future-ready workplace."
"Planon is thrilled to collaborate with the EY organization to leverage their experience in real estate and business consulting, their in-depth knowledge of the IWMS landscape and their thought leadership to help our clients achieve a healthy, efficient and sustainable workplace. As global leaders in our respective fields, the EY organization and Planon make a powerful team that will continue to help drive adoption of leading technologies for real estate and facility management, and add value for clients."
Pierre Guelen, Founder and CEO of Planon
EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.
Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws.
Planon is the leading global provider of Smart Sustainable Building Management software that connects buildings, people and processes. By eliminating data silos and aligning solutions into one shared information platform, Planon provides all building stakeholders with actionable and meaningful insights. Independent market research and consulting firms have consistently rated Planon as a global leader in the market. Planon has implemented its comprehensive solutions for more than 2,500 clients, supported by offices and partners around the world.