Humberts sold to franchise owners

PropertyWire | January 28, 2020

Historic estate agency group Humberts has been purchased by a consortium of franchise owners after falling into administration in December 2019. The firm has been purchased by Humberts Group Limited from insolvency practice Begbies Traynor. A scattergun approach to growing the company was blamed for its troubles. Humberts franchised at least one office, opened a prime central London branch – at odds with its reputation as a rural agency – and launched a new homes division. Tim Stephens MRICS, who operates the Norwich Humberts office, said: “We are delighted to conclude this deal and to take this long established and trusted brand into a very exciting future, particularly after the hedging of the Brexit negotiations and uncertainties for the economy prior to the election.

Spotlight

Want to spend less time on ASC 842 lease accounting? CoStar Real Estate Manager is the automatic choice. Switch to the most automated solution that automates audit details, data validation, remeasurements, retrospective true-ups and discount rate matching. No other solution offers more audit readiness and confidence in your data.

Spotlight

Want to spend less time on ASC 842 lease accounting? CoStar Real Estate Manager is the automatic choice. Switch to the most automated solution that automates audit details, data validation, remeasurements, retrospective true-ups and discount rate matching. No other solution offers more audit readiness and confidence in your data.

Related News

BROKERAGE,AGENT

Mosaic and Atlantic Jasper Building First Build-to-Rent Neighborhood in Northern Arizona Master Planned Community

Mosaic | December 15, 2022

Mosaic, the nation’s leading institutional-grade general contractor, has broken ground on The Flats at Jasper, a new build-to-rent (BTR) community within the nationally-recognized Jasper master planned community in Prescott Valley, Arizona. Atlantic Jasper, developer of The Flats, has partnered with Mosaic to build the 26.1-acre site, which will include 240 horizontal apartment-style build-to-rent units. The project is expected to benefit from the strong housing market in the Prescott area, providing a much needed transitional product type for out-of-town demand, which makes up a large portion of the population. “We approached the development of the Flats at Jasper with a long-term investment horizon in mind, The units feature luxury fixtures and details, a first-class clubhouse, and other amenities designed to provide a competitive advantage in the Prescott market. Mosaic’s previous on-site experience and established area trade partners made them the ideal general contractor to deliver high-quality homes and amenities for the Flats at Jasper.” -David Brown, co-manager of Atlantic Jasper This unique BTR community will offer numerous amenities, including a state-of-the-art 5,000 square foot clubhouse with a 24-hour workout facility and meeting spaces, pool, hot hub, spa, dog park and dog wash facilities, along with open spaces and grilling stations throughout the community. Mosaic has previously partnered with other regional home builders on the Jasper clean-energy community and seeks to build on this success with a new partner, Atlantic Jasper. This is our third project in the Jasper community, and the first build-to-rent neighborhood within the masterplan, Atlantic Jasper saw the need for a for-rent product type based on the strong regional demographics. Our pre-development services team and robust on-site experience within the community were the perfect fit for supporting their innovative vision of an ideal site layout, standout architectural features, and an ambitious and executable construction plan,said Alex Pollack, Director of Partnerships at Mosaic. The new site will offer four floor plans in a combination of single-family detached homes and duplexes ranging from 760 to 1,039 square feet. The homes offer one-bedroom and one-bathroom or two-bedroom and two-bathroom options, with one of the one-bedroom floor plans including a home office space. The community includes detached garages and residents will benefit from walking trails and other amenities within the master plan. Construction is anticipated to finish in 2025. About Mosaic Mosaic is the nation’s fastest-growing general contractor, building homes for the country’s most innovative residential developers. Founded in 2017 and headquartered in Phoenix, the institutional-grade general contractor provides a full suite of construction services, from pre-development to warranty and lease up. As an industry leader in build-to-rent, the Mosaic team’s combined experience spans more than 24,000 BTR units across 100 communities. Mosaic’s GC operations span multiple states, including Arizona, Colorado, Texas, Idaho, California, and Florida. About Atlantic Jasper The development partners of Atlantic Jasper have extensive development experience and have worked together for over 35 years. Atlantic Jasper and its affiliates have been involved in the development and management of numerous residential subdivisions, manufactured home communities, condominiums, and apartments in California, Hawaii, Arizona, and Massachusetts.

Read More

REAL ESTATE TECHNOLOGY

RI Marketplace and SharpLaunch Announce a New Partnership to Expand Their Technology & Services for a Better Client Experience

RI Marketplace and SharpLaunch | November 16, 2022

RI Marketplace ("Marketplace"), the leading online auction platform for commercial real estate (CRE) transactions, today announced their partnership with SharpLaunch, a powerful CRE marketing software designed to accelerate time-to-market and meet the needs of building owners, asset managers, investment sales teams, and brokers alike. Through this new partnership, SharpLaunch clients' listings can now be viewed on Marketplace's Listings page. This partnership will allow Sharplaunch's brokers to take advantage of a new, curated, and fast-growing network of highly vetted investors and for Marketplace's buyers to gain access to more opportunities. SharpLaunch customers can now easily opt-in to have their sales listings displayed on Marketplace's Listing page and automatically updated in real time as listing statuses are modified, all with the click of a button. The process is managed through an API integration that enables brokers to benefit from a wider distribution of their listings without having to manually input and update data from one site to another. SharpLaunch's ability to help streamline marketing operations for busy commercial real estate clients like CBRE and Cushman & Wakefield allows them to quickly and easily publish their listings so they can get back to driving revenue and making an impact at their organization. Not only does this partnership create a greater likelihood for buyers and sellers to transact, but it also illustrates how Marketplace and SharpLaunch continue to take the lead as CRE innovators by encouraging industry cooperation and collaboration with the ultimate goal of creating a more streamlined, efficient experience for commercial real estate professionals across the value chain. "By creating these partnerships and utilizing the best of both technologies, we are meeting the demands of our users – SharpLaunch clients gain more visibility for their property listings and Marketplace investors get to see more opportunities to buy, In collaborating with top tier CRE entrepreneurs and thought-leaders like SharpLaunch, we are creating a win win win for us, our clients and the industry as whole. We are consciously trying to move the CRE space forward by creating a culture of openness with technology partners - and having fun while we do it." -James Shevlin President and Chief Operating Officer at CWCapital, an affiliate company of RI Marketplace Marketplace has built a network of over 100,000 qualified investors nationwide with a proven track record of buying assets and who regularly visit Marketplace's website in search of their next deal, Making sure our listings could integrate with such a powerful platform was an easy choice, and an important one for the customers who rely on us to help them find the right buyers,said Bob Samii, Founder and CEO of SharpLaunch. About RI Marketplace RI Marketplace is the leading auction platform for commercial real estate transactions, bringing buyers, sellers and brokers together to efficiently list, market and close deals. The platform allows local, national and global investors the opportunity to quickly review and bid on assets throughout the country. Marketplace is managed by a dedicated team of commercial asset experts with more than $11 billion in online real estate sales. Since its inception in May 2017, the platform has completed more than $3.4 billion in transactions. About CWCapital Asset Management LLC CWCapital is a highly rated special servicer, investment management, and analytics firm with over $220 billion UPB of name servicing rights. CWCapital provides value maximization services and solutions for clients throughout the entire investment life cycle. The company is comprised of experienced real estate specialists managing one of the largest Special Servicing platforms. CWCapital offers deep market experience in acquisition services, underwriting, due diligence, investment management, dispositions, CMBS research, bond analytics – all powered by RealINSIGHT, a state-of-the-art asset management software. About SharpLaunch SharpLaunch is a powerful commercial real estate marketing software that accelerates lease and sales volume for busy CRE teams. As experts in commercial real estate marketing, SharpLaunch provides a suite of easy-to-use tools to streamline marketing operations, accelerate time-to-market, and amplify the digital presence of commercial properties.

Read More

HOME AND DESIGN,REAL ESTATE INVESTMENT

Wood Partners Expands Footprint in Garland, Texas with Groundbreaking of Latest Luxury Residential Community: Alta Firewheel

Wood Partners | December 02, 2022

Wood Partners, a leading national multifamily real estate developer, today announced the groundbreaking of its latest luxury residential community, Alta Firewheel, located in Garland, Texas. Currently under construction, Alta Firewheel is set to open in December 2023 with pre-leasing to begin in September 2023. Alta Firewheel is the second Wood Partners project in the Garland submarket, following Alta Spring Creek that opened and sold in 2021. Located near the President George Bush Tollway, the community will offer an easy commute to major employment centers and high-density retail. Residents of Alta Firewheel will enjoy direct access to a myriad of dining, shopping, and entertainment options located at Firewheel Town Center, boasting more than one million square feet of retail space within walking distance of the community. Other major attractions include Lake Ray Hubbard, Firewheel Golf Park, Breckinridge Park and One Eleven Ranch Park. "We are pleased to continue expanding our presence in the North Texas area with the groundbreaking of Alta Firewheel, Alta Firewheel will serve as the perfect community for young professionals looking to put down roots in the neighborhood and explore all that Garland has to offer. We aim to provide a comfortable and convenient home for our residents while also making a positive impact on the City of Garland." -Ryan Miller, Managing Director for Wood Partners Once complete, Alta Firewheel will offer 250 luxury apartment homes comprised of one-, two- and three-bedroom floor plans with many homes offering views of the natural landscape that runs adjacent to Rowlett Creek. Each home will be outfitted with top-of-the-line luxury interior finishes including granite countertops, stainless steel appliance packages, wood-style flooring and upgraded fixtures and pendant lighting. Additional luxury finishes include 42-inch cabinets with soft close drawers, programmable thermostats, private yards and in-unit washer and dryers. Alta Firewheel will also provide its residents with best-in-class community amenities, including a resort style pool with tanning ledges, outdoor firepits, grilling areas, outdoor lawn spaces and an on-site dog park with a pet wash station. Inside the clubhouse, residents will be able to take advantage of a state-of-the-art fitness facility with advanced equipment and yoga capabilities, as well as ample lounge spaces for social gatherings and coworking. In addition to the premiere retail and dining options located within minutes of the community, Alta Firewheel's prime location will also place residents in proximity to the city's two major employment hubs - City Line and the Telecom Corridor. Top employers in the area include State Farm Insurance, Blue Cross & Blue Shield of Texas, Genpact, GEICO, and Cisco Systems. About Wood Partners Wood Partners is a national leader in the development, construction, and management of multifamily communities across the United States. The company has been involved in the acquisition and development of nearly 90,000 conventional multifamily homes with a combined capitalization of $17.3 billion. The company currently owns more than 70 properties across the United States representing over 20,000 homes. Headquartered in Atlanta, Wood Partners has offices in 22 major markets across 15 states nationwide. The company also operates Wood Residential, an award-winning, full-service property management group that proudly operates both properties developed by Wood Partners and communities owned by third parties. For three years running, Wood Residential has ranked No. 1 nationally for online reputation in the J Turner ORA™ Power Rankings (Division III).

Read More