REAL ESTATE INVESTMENT
Walker & Dunlop | January 24, 2022
Walker & Dunlop, Inc. announced today that it facilitated the $156,000,000 sale and $91,260,000 financing of Volta on Pine , a 271-unit, core multifamily property with 1,300 square feet of ground floor retail space in the heart of Downtown Long Beach, California. Historically tied to aviation since the days of Amelia Earhart's 1920s explorations, Long Beach is now coined "Space Beach" and is rapidly becoming the epicenter of the aerospace industry. Startups including SpinLaunch, Rocket Lab, and Relativity Space have chosen the area as their headquarters since 2019, providing for a highly active job market in Long Beach.
Volta on Pine will benefit from the recent uptick in Long Beach's booming job market and provide commuting renters with access to the approximately 950,000 jobs offered throughout Long Beach, Beach Cities, Downtown LA, and Irvine. Delivered in early 2021, the property is a collaboration between North America Sekisui House ("NASH") Holland JV and MVE + Partners Architects, which both have an expansive presence primarily in the Western Region's high-growth markets.
Walker & Dunlop's Blake A. Rogers, Alexandra Caniglia, Kevin Sheehan, Hunter Combs, and Javier Rivera represented the sellers, Holland Partner Group and NASH and in the disposition to the buyer, Gelt, Inc. Mark Grace, John Montakab, and Trevor Fase arranged the financing from Nuveen on behalf of Gelt.
Volta on Pine is ideally situated in the heart of Long Beach's Downtown, offering residents access to shopping destinations, world-class restaurants, breweries, and various grocery stores. Local attractions also include the Aquarium of the Pacific, Long Beach Convention & Entertainment Center, Long Beach Jazz Festival, Museum of Latin American Art (MOLAA), Lions Lighthouse, and the Long Beach Grand Prix. The property's outstanding community amenities include a rooftop terrace with ocean views and barbecue stations, executive meeting rooms, a 24-hour state-of-the-art fitness center, sky lounge, pool, and spa. The apartment homes feature best-in-class luxury interior features, including gourmet chef's kitchens with stainless steel appliances, quartz countertops, spa-inspired bathrooms, and spacious bedrooms.
Walker & Dunlop is a leader in multifamily property sales, having completed $10 billion in volume from the first through third quarters of 2021, up 203% from the same period in 2020. In Los Angeles County alone, the team completed sales of over $1 billion with a total of 17 transactions in in 2021. The firm was also the top provider of capital to the U.S. multifamily market, originating $31 billion in transactions and lending over $24 billion for multifamily properties in 2020.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is the largest provider of capital to the multifamily industry in the United States and the fourth largest lender on all commercial real estate including industrial, office, retail, and hospitality. Walker & Dunlop enables real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology make us more insightful and valuable to our clients, providing an unmatched experience every step of the way.
REAL ESTATE INVESTMENT
Invesco Real Estate Income Trust Inc. | April 28, 2022
On April 27th, institutionally-managed, public real estate trust, Invesco Real Estate Income Trust, Inc. (INREIT), announced the acquisition of a new self-storage property. The property is a 491-unit self-storage facility situated at 3975 University Parkway, Winston-Salem, North Carolina. It is located just 1.5 miles away from Wake Forest University.
In today's capital market environment, self-storage assets with strong demand fundamentals are attractive investments that provide monthly mark-to-market opportunities to offset inflationary impacts. Self-storage is a resilient sector through economic cycles and we're pleased to acquire this desirable property."
R. Scott Dennis, President and Chief Executive Officer for INREIT
The property is an addition to INREIT’s self-storage portfolio, as the third investment boosts the portfolio to $75 million.
prnewswire | September 24, 2020
Cambria Investment Management, LP, an independent, investment advisory firm focused on quantitative asset management and alternative investments, today launched the Cambria Global Real Estate ETF (BLDG), listed on Cboe. The fund is actively managed with an expense ratio of 0.59%. BLDG joins 11 other Cambria ETFs managed using quantitative, rules-based strategies that span asset classes and include value, core, and tactical strategies. "Cambria is focused on offering quantitative, rules-based strategies that are unique alternatives to what is already available in the ETF marketplace," said Meb Faber, Cambria co-founder and CIO.