MARKET OUTLOOK

Jetty Announces Partnership with AMLI Residential

Jetty | August 27, 2021

Jetty, the financial services company on a mission to make renting a home more affordable and flexible, today announced a new partnership with AMLI Residential, one of the preeminent multifamily companies in the nation. Jetty Deposit, the deposit replacement that swaps traditional cash deposits for a low monthly or one-and-done payment, is now available across more than 22,000 luxury apartments within AMLI's portfolio.

"Jetty Deposit has enabled us to ensure compliance with deposit replacement legislation, while at the same time increasing the levels of protection we have across our apartments," said Kenda Hartmann at AMLI. "Residents love the option of reducing their move-in costs, which helps us attract more prospects and convert them into leases."

Jetty works with top property managers across the country to increase lease conversion rates, reduce bad debt, and streamline operations—thereby increasing net operating income. In addition to AMLI Residential, partners include Greystar, LivCor, Related, MG Properties, Cortland, Gables Residential, and many more, representing more than two million units nationwide.

ABOUT JETTY
Jetty is on a mission to make renting a home more affordable and flexible for everyone. As a fintech company, Jetty's solutions help property managers increase lease conversion, reduce bad debt, and streamline operations. For renters, Jetty lowers the barrier to entry by saving thousands of dollars on move-in costs.

ABOUT AMLI
AMLI Residential focuses on the development, construction and management of environmentally responsible, luxury apartment communities throughout the country. Founded in 1980, AMLI is owned by PRIME Property Fund, a core commingled institutional fund. AMLI currently owns and manages 72 apartment communities including 23,000 apartment homes and has approximately 5,000 additional apartment homes under development and/or in lease-up at 12 locations. AMLI is a leader in multifamily sustainability. Forty-seven AMLI communities are LEED®-certified, and forty-four communities are ENERGY STAR®-certified.

Spotlight

Located on a large corner lot in Manhattan Beach, 1659 3rd Street is a beautiful coastal-inspired remodeled home that is full of natural light. It has 2,800 square feet of living space with 4 large bedrooms and 3.5 baths. There are two separate living areas, a large master suite and an expansive backyard full of fruit trees that is perfect for entertaining. In Hermosa Beach, 824 17th Street is a distinctive and gracious craftsman-style home that was built in 2001. This lovely 3 bedroom and 3 bathroom home enjoys panoramic ocean and Palos Verdes views. Its first floor includes a formal dining room, a living room with fireplace and a gourmet eat-in kitchen with center island and granite countertops. The second floor has the three bedrooms, including a luxurious master suite and a spacious family room.

Spotlight

Located on a large corner lot in Manhattan Beach, 1659 3rd Street is a beautiful coastal-inspired remodeled home that is full of natural light. It has 2,800 square feet of living space with 4 large bedrooms and 3.5 baths. There are two separate living areas, a large master suite and an expansive backyard full of fruit trees that is perfect for entertaining. In Hermosa Beach, 824 17th Street is a distinctive and gracious craftsman-style home that was built in 2001. This lovely 3 bedroom and 3 bathroom home enjoys panoramic ocean and Palos Verdes views. Its first floor includes a formal dining room, a living room with fireplace and a gourmet eat-in kitchen with center island and granite countertops. The second floor has the three bedrooms, including a luxurious master suite and a spacious family room.

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REAL ESTATE TECHNOLOGY

Scores of Pandemic Homebuyers Purchased Vacation Homes With High Natural-Disaster Risk

Redfin | July 06, 2022

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REAL ESTATE TECHNOLOGY

Starz Real Estate forms new €300M JV with Ready Capital

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. About Starz 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.

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REAL ESTATE INVESTMENT

Incendium Consulting, Part of The Instant Group, Acquires Capstan Advisors to Scale Workplace and Strategy Practice; Continue U.S. Expansion

The Instant Group, Incendium and Capstan Advisors | August 17, 2022

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