REAL ESTATE INVESTMENT, BUYING/SELLING
Vanir | February 06, 2023
One of the national leaders in real estate development and program, project, and construction management, Vanir, has recently been awarded a contract by Arizona Housing Inc. (AHI). The AHI is a nonprofit organization based in Phoenix that provides affordable, permanent, supportive housing for the homeless.
Vanir will offer project and construction management services for AHI's Collins Court project Phase II, including cost controls, construction oversight, inspection services, document controls, quality control, claims avoidance and commissioning, under the awarded contract. By March this year, the design-bid-build delivery method will be used to construct the 10,591-square-foot, 34-unit affordable housing complex.
AHI's Housing First Model provides housing with wraparound case management services to individuals and families. The company was founded in 1995 and currently owns and operates five multi-family properties, which comprise 616 units in total. The property features are designed to empower residents with amenities to promote self-sufficiency and create a healthy living environment. The housing communities have fully furnished studio apartments with garden patios, business centers, mini-marts, libraries, community rooms, and on-site laundry services.
Codi Newsom P.E., LEED AP, and Vanir Mountain Region Area's Manager said, "Vanir's Arizona team is proud to partner with AHI and Architectural Resource Team, Inc. (ART), the architect of record, to build safe, equitable and affordable apartment homes for Phoenix's most vulnerable population." She added, "Our goal is to ensure that the contractor and all sub-contractors perform optimally to fulfill AHI and ART's design intent and deliver this critical project on time and within budget."
(Source: Cision PR Newswire)
Based in Sacramento, California, Vanir is a national leader in program, project, and construction management (PMCM) and real estate development. Top-ranked PMCM company by Engineering News-Record (ENR) for more than thirty years, the company's award-winning team provides complete services to both public and private sectors clients in the education (K-12 and higher), healthcare, transportation, justice and essential services, local and state government, technology, and water/wastewater markets. Established in 1964, the company has delivered value to customers nationwide with $25.8 billion in construction. The company's incredibly high rate of repeat business, which is 85%, shows that its team provides high-quality, innovative solutions that help programs and projects run smoothly.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Marcus & Millichap | February 01, 2023
On January 31st, 2023, Marcus & Millichap, a renowned commercial real estate brokerage company specializing in investment sales, research, financing, and advisory services, signed an exclusive representation agreement with Deep South Studios LLC to secure joint venture equity for the development of Deep South Studios Phase I.
The project is based in New Orleans, Louisiana, and involves the construction of a 262,560-square-foot, full-service television and film production facility. The sponsor, Deep South Studios LLC, is represented by Henri M. Kessler and Eric Michael Anton of Marcus & Millichap's Global Capital Division.
The facility's primary utilities are operational, and three buildings are functional and generating revenue. The site is wholly authorized and ready for development. Two production offices, six sound stages varying in size from 16,500 to 30,000 sq. ft., and vendor buildings totaling 99,000 sq. ft. will form the project. There will be a construction mill for creating world-class sets, a grip and lighting installation, and as many as one thousand parking spaces.
The facility is situated on a 20-acre site, the largest contiguous tract of undeveloped land in the heart of New Orleans. Located on elevated ground on the west side of the Mississippi River in the Algiers area, it is accessible from Interstate 10 and Louis Armstrong New Orleans International Airport. The French Quarter and the central commercial district of the city are nearby.
About Marcus & Millichap, Inc.
Marcus & Millichap was founded in 1971 to foster a culture of long-term relationships and collaboration. Headquartered in Calabasas, California, it is a leading brokerage firm focusing on commercial real estate investment sales, research, financing, and advisory services. The company combines expert market knowledge, an excellent brokerage platform, and exclusive access to inventory to realize exceptional results for clients. Today, it is one of the leading firms in the real estate investment sales and financing industry, with over 80 offices and almost 2,000 financing and investment sales professionals in Canada and the United States.
REAL ESTATE INVESTMENT, MORTGAGE AND LENDING
Roc360 | March 16, 2023
Roc Capital Holdings LLC (Roc360), a financial services platform for residential real estate investors, recently announced its completion of the previously announced acquisition of Finance of America Commercial (FACo) assets. Under the transaction terms, Roc360 acquired the operational assets of FACo, a Finance of America Companies Inc. division specializing in residential real estate investment loans.
Roc360 will give the brand a unique logo and execute it under a new subsidiary using its current name, Finance of America Commercial. It will join Roc360's growing collection of leading real estate’s brands, such as Haus Lending, Roc Capital, Elmsure Insurance, Wimba Title, and Tamarisk Appraisals. The FACo acquisition enhances Roc360's existing origination footprint in its retail and wholesale channels, and the acquired data will contribute to Roc360's data science initiatives. In 2022, the two companies collectively financed over $4.6 billion in loans for business purposes.
FACo traces its origins back over a decade to its forerunners, B2R Finance, Dwell Finance, and Jordan Capital Finance, innovators in the national private lending sector that provided fix-and-flip and landlord DSCR loans to real estate investors. It has funded over $6 billion to 9,000+ individual guarantors across 25,000+ closed loans via its broker channels and borrower-direct.
Arvind Raghunathan, Founder and Chief Executive Officer of Roc360, said, "Roc360 is committed to delivering innovative products and services that help rejuvenate and deliver new and like-new energy efficient homes to America's undersupplied housing stock." He also said, "The acquisition further broadens our reach and ability to make a difference. We will continue to pursue growth opportunities, including acquisitions, that expand our ability to provide solutions to real estate investors."
(Source – Cision PR Newswire)
Roc360 is a vertically integrated platform for residential real estate investors and one of the leading creators of business-purpose loans nationally. The company was established in 2014, employs more than 300 people and funded more than $14 billion in loans through its lending subsidiaries. It is based in New York City with offices across three continents. In addition, Roc360 joined the Deloitte Technology Fast 500, a ranking of the 500 North American companies with the fastest-growing media, technology, telecommunications, fintech, life sciences, and energy tech industries in 2022.