Hunt Capital Partners and Pennrose Launch Second Phase of Affordable Housing Redevelopment in Maryland

Cision PR Newswire | January 20, 2020

Hunt Capital Partners and Pennrose Launch Second Phase of Affordable Housing Redevelopment in Maryland
Hunt Capital Partners, in collaboration with Pennrose, LLC, announced the closing of $4.52 million in federal low-income housing tax credit (LIHTC) equity financing for the new construction of the Residences at Glenarden Hills Phase 2A, located in Lanham, Md. The development will offer 55 affordable housing units restricted to seniors age 62 years and older. Residences at Glenarden Hills Phase 2A is the second phase in the redevelopment of land that once housed the 578-unit Glenarden Apartments complex, which has since been demolished.  The Redevelopment Authority of Prince George's County (RDA) partnered with Pennrose to design and develop 430 units of new affordable, workforce, and market rate multifamily housing and homeownership units targeted to seniors and families. The redevelopment of the site will take place over four stages, with Phase 1 featuring 114 units and a 6,000 square foot clubhouse, currently nearing completion. Phase 2 will be divided into two parts, designated as Phase 2A, which will construct 55 LIHTC senior units, and Phase 2B, which will construct 59 LIHTC family units and 45 market rate units. We welcome the opportunity to partner with Pennrose, one of the industry's leading developers, on such a large multi-phase project, said Hunt Capital Partners Executive Managing Director Dana Mayo.

Spotlight

The reporting boundaries for this report include our investments in real assets, managed directly or indirectly, including assets that were acquired, disposed of or completed during the reporting period. While we aspire to report on whole building performance data for 100% of our standing investments, in many cases, performance data will only include landlord controlled areas.

Spotlight

The reporting boundaries for this report include our investments in real assets, managed directly or indirectly, including assets that were acquired, disposed of or completed during the reporting period. While we aspire to report on whole building performance data for 100% of our standing investments, in many cases, performance data will only include landlord controlled areas.

Related News

REAL ESTATE TECHNOLOGY

Data-Driven Home Platform Kukun Expands Partnership With Digital Personal Finance Company SoFi

Kukun | July 14, 2021

Kukun, the leading company in property data and predictive analytics for home renovations, announced today that SoFi would integrate the new Kukun Digital Cost Estimator into the SoFi app through Relay, SoFi's financial management tool. This expansion builds on SoFi and Kukun's existing partnership, which began in 2018 when SoFi started offering Kukun and SoFi's Home Improvement Cost Calculator products to its clients. In addition, Kukun offers Relay users property data, photos, and property values using Automated Valuation Models (AVM) for individuals interested in learning more about specific home investments. Relay will enable users to monitor the value of the owned real estate and handle different financial aspects related to the home by integrating Kukun's Property Tracking feature. Relay aspires to be the one-stop shop for SoFi members seeking a comprehensive understanding of their money. Real estate is often the most important financial investment, making it a crucial asset to monitor and manage. Kukun's most recent Cost Estimator is now available on Relay, allowing consumers better manage their remodeling budgets for the greatest possible outcome, increasing the investment value of their homes. Kukun will supply SoFi with Automated Valuation Models (AVM) and images and improve its existing digital estimator under the contract terms. The enhanced tool will include new rooms such as a home gym and an office and a real-time assessment of the return on investment (ROI) of any remodeling project. About Kukun Kukun is the leading provider of property data and predictive analytics, allowing homeowners to buy better, remodel smarter, and manage their homes more easily. Kukun's products assist customers, realtors, and real estate investors make smart financial decisions that create wealth. The company offers solutions that show which areas are likely to see the most price growth, profit from home improvements, estimate the cost of any renovation quickly and contain all of the information a house buyer or homeowner needs to optimize their home experience. Kukun's data and analytics solutions are also used by large companies in the investment, real estate, construction, and banking sectors. For example, Kukun is the only real estate renovation engine utilized on the websites of several of America's largest banks. About SoFi SoFi assists people in achieving financial independence so that they can pursue their objectives. Our products for borrowing, saving, spending, investing and protecting provide our more than one million members with quick access to tools to help them manage their money. In addition, SoFi membership includes the essentials for going ahead, such as career advisors and access to a thriving community of like-minded, ambitious individuals. SoFi Stadium, home of the Los Angeles Chargers and Rams, also has SoFi as a naming rights partner.

Read More

Bright Pattern Contact Center Deployed by the Leading Real Estate Marketplace in the US

Bright Pattern | June 11, 2020

Bright Pattern, a leading provider of AI-powered cloud contact center software for innovative companies, announced today that it was deployed by the leading real estate marketplace in the US to support customers over voice and chat. The company is dedicated to empowering consumers with data and inspiration around the place they call home. The company plans to empower customers in 2020 with a tight integration between its mobile app and the Bright Pattern platform to provide seamless connectivity to live support agents from within the app.

Read More

REAL ESTATE TECHNOLOGY

With Chainlink, SmartZip Brings Real Estate Data to the Blockchain

SmartZip | May 11, 2021

SmartZip is eager to declare that they will join Chainlink's market-driving decentralized prophet network by dispatching their Chainlink hub. The Chainlink hub fills in as secure blockchain middleware that makes existing SmartZip APIs viable across driving blockchain networks. Through this new Chain Link hub, SmartZip can supply their exclusive land information including property costs, rental rates, provincial patterns, and prescient evaluating models to blockchain applications (also known as brilliant agreements). Furthermore, the Chainlink hub cryptographically signs all information communicated on the blockchain, giving clients cryptographic confirmation of the information's respectability as beginning from a SmartZip API. The Chainlink hub not just grows SmartZip's compass as an information supplier by broadening their top-notch datasets into arising blockchain markets, yet arrangements new sorts of land items and markets. Engineers can utilize SmartZip's information to create information-driven shrewd agreement applications that settle expectation markets based on future house estimations, ascertain the worth of NFTs that address land, or supply confided in benchmarks before executing exchanges of tokenized properties. SmartZip Expanding Services to the Chainlink Network SmartZip's exclusive prescient examination model totals information from 24 sources and contains more than 1 billion information focuses on private land, including modern market valuations, rental wages and other key information focuses. With blockchain's capacity to both digitize land as tokenized resources and lessen mediator failures in the business, there is a developing chance to bring SmartZip's exceptional land information on-chain and backing these new business sectors. Since blockchains are deliberately disengaged from outside frameworks to guarantee their security and dependability, savvy contracts have no inherent ability to get to off-chain SmartZip API information. This absence of outside availability requires the utilization of an extra piece of foundation known as a blockchain prophet to bring outer API information into blockchain networks. Chainlink, the most broadly embraced prophet network in the blockchain business, offers a dependable, industry-standard prophet answer for making SmartZip's land information open to a tremendous pool of savvy contract engineers. Chainlink gives various highlights that put it aside from different arrangements, for example, • Information Signing - The Chainlink hub cryptographically signs each piece of information SmartZip posts on-chain, forestalling man-in-the-center assaults and expanding its unwavering quality in mechanizing contract results. • Blockchain Agnostic - The Chainlink hub is blockchain-skeptic, furnishing SmartZip with a solitary entryway to offer information to any current and future blockchain. • Enormous Market - Chainlink is the most broadly utilized prophet arrangement in the keen agreement economy, giving a huge and developing business sector of potential information customers. • Secure Infrastructure - Chainlink is completely reviewed open-source programming that all in all gets billions of dollars in esteem on mainnet, demonstrating its capacity to ensure and trigger the development of genuine monetary worth. "Chainlink offers SmartZip a speedy, simple, and secure answer for progressing our present API foundation to help blockchain networks," said Robert Reardon, General Manager of SmartZip. "In addition to the fact that this opens up new income streams in a developing business sector, yet it's a future-evidence arrangement that can undoubtedly scale to help an assortment of new blockchains and applications. This saves us a lot of time and assets while presenting our information to another decentralized economy." Joining the Chainlink Network as a hub administrator permits SmartZip to partake in the developing savvy contract economy by giving premium information to new types of decentralized and transparently available housing markets. As more land advances to blockchains, SmartZip's information can uphold a developing assortment of new applications, for example, the land being utilized as security in decentralized account (DeFi) items to get advances or property-put together NFTs that exchange concerning decentralized trades (DEXs). About SmartZip Smart zip is the head of prescient examination in the land. With Smartzip, engineers can undoubtedly coordinate the most extensive land data set into their applications including property estimations, rental rates, probability of selling, and much more.SmartZip is important for the Constellation Real Estate Group, an arrangement of vertical market programming organizations inside Constellation Software, Inc. The Constellation Real Estate Group gains and puts resources into innovation organizations in the land vertical that is focused on giving inventive, long-haul arrangements and associations to the clients they serve. About Chainlink Chainlink is the most generally utilized and secure approach to control all-around associated brilliant agreements. With Chainlink, engineers can interface any blockchain with excellent information sources from other blockchains just as genuine information. Overseen by a worldwide, decentralized local area of a huge number of individuals, Chainlink is presenting a more pleasant model for contracts. Its organization as of now gets billions of dollars in incentive for brilliant agreements across the decentralized money (DeFi), protection, and gaming environments, among others. Chainlink is trusted by many associations to convey authoritative truth through secure, solid information takes care of.

Read More