REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
PRnewswire | May 29, 2023
Greystar Real Estate Partners, LLC ("Greystar"), a global leader in the investment, development, and management of real estate, including rental housing, logistics, and life sciences, today announced the launch of a new dedicated brand, Ltd. by Greystar ("Ltd."). Ltd. will exclusively focus on Greystar's impact housing product, delivering more attainable housing opportunities for key populations affected by the lack of rental options in the United States.
Working in tandem with Greystar's recently opened Modern Living Solutions ("MLS") factory – Greystar's modular construction business focused on building off-site, prefabricated modular apartments sustainably and at an attainable price point – Ltd. will allow for the building and operating of essential housing communities at scale. To achieve this goal, Ltd. guarantees not to increase rents by more than the greater of CPI or 3%, providing "certainty of housing" for existing residents.
"Over the course of my career, I have seen the incredible need for attainable housing options across the United States," said Bob Faith, Founder, Chairman, and CEO of Greystar. "We are excited for the opportunity to apply our platform and our culture of innovation to build housing supply that offers an attainable, high-quality experience for renters while also serving as an attractive proposition for both Greystar and our partners."
"What we're doing with our newly created Ltd. brand is a game-changer for renters who want to live in a Greystar-managed community and for an industry that needs more housing supply," said Scott Berka, Senior Managing Director, Brand and Customer Experience. "When you consider how big the challenge at hand is, I'm proud to be part of a team that's willing to throw out the rulebook and challenge ourselves to make a true impact while delivering the Greystar-level experience people should have. Through this effort and our Ltd. brand, we're at the start of a great journey."
All Ltd. branded communities will have standard amenities appropriate for their location, including community pools and gyms, among other options. Additionally, cutting-edge technology packages in multi-family will be included in each Ltd. community and apartment, with property-wide high-speed internet, smart locks, and resident apps that streamline everything from maintenance requests to guest access. This package of amenities and innovative technology helps to set Ltd. communities apart from most of the existing attainable supply in the United States.
Greystar currently has 5 Ltd. branded projects underway across 4 cities, with approximately 1,600 units expected to come online in the next 18 months. The first Ltd. community, Ltd. Med Center, in Houston, Texas with 378 units is now in lease-up and more information can be found here.
About Ltd., by Greystar
Ltd. by Greystar is Greystar's dedicated brand focused on impact housing that offers cost certainty for residents. Ltd. branded communities will limit future rent increases, not raising rents by more than the greater of the CPI or 3%. An Ltd. community combines the opportunity to live in a high-quality, professionally managed Greystar apartment with the comfort of cost certainty, emphasizing value for our residents. To learn more, visit https://ltd.greystar.com/.
About Modern Living Solutions, by Greystar
Modern Living Solutions is a leading, fully integrated modular construction company offering expertise in the design, development, and delivery of modular construction residential real estate products. Headquartered in Baltimore, MD, with its state-of-the-art offsite manufacturing facility in Knox, PA, Modern Living Solutions develops thousands of modular products on behalf of dedicated partners and capital annually. Modern Living Solutions was founded in 2020 with the intent to become a provider of world-class services in the modular construction residential real estate business. To learn more, visit https://www.modsbymodern.com.
Greystar is a leading, fully integrated global real estate company offering expertise in property management, investment management, development, and construction services in institutional quality rental housing, logistics, and life sciences sectors. Headquartered in Charleston, South Carolina, Greystar manages and operates more than $275 billion of real estate in 238 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 803,000 units/beds globally, and has a robust institutional investment management platform comprised of more than $74 billion of assets under management, including nearly $32 billion of development assets. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.
REAL ESTATE INVESTMENT, BUYING/SELLING
PRnewswire | April 05, 2023
GTIS Partners ("GTIS"), a global real estate investment firm managing $4.3 billion in gross assets with a U.S. focus on residential and industrial/logistics investments, today announced the launch of Tavalo, a dedicated build-to-rent community development company and a subsidiary of GTIS.
Tavalo creates places where people live, play, and gather. Developing purpose built communities that provide a variety of product types and an amenitized lifestyle experience through thoughtful planning and design, reimagining what it means to rent.
GTIS conducts macro research into what drives value and returns for build-to-rent communities and applies bespoke approaches to every market in which it develops. By evaluating each location and shaping communities around its research, the company is able to remain agile, adjusting the design, programming, and amenities of each community to fit the needs of all residents. GTIS remains committed to ESG efforts through Tavalo, utilizing design and product construction to deliver sustainable solutions from energy and water efficiency to smart home technology.
Tavalo has already completed its first of many planned build-to-rent community projects, called Tavalo at Cadence, which is located in Mesa, Arizona and includes a total of 197 build-to-rent units, a fully equipped gym, a yoga studio, three resort-inspired pools and a spa. Additionally, by using HercuWall, a panelized wall system comprised of concrete, steel, and EPS, energy costs at Cadence have been reduced by 20 to 40%.
"We are thrilled to announce the launch of Tavalo," said Tom Shapiro, President and Chief Investment Officer of GTIS. "The unique value of self-developing these build-to-rent projects is that we can bring our team's collective expertise and research capabilities together to create and provide beautiful and thoughtful communities for renters across the U.S." He added, "We look forward to developing additional communities under Tavalo."
In addition to Tavalo at Cadence, the company has begun work on seven additional build-to-rent communities in both the greater Phoenix area and South Florida. Locations include Queen Creek, Glendale, Avondale and Surprise in Arizona as well as Wesley Chapel, San Antonio and Port St. Lucie in Florida. Upon completion of these projects, Tavalo and GTIS will have developed approximately 2,100 build-to-rent units.
About GTIS Partners
GTIS Partners is a global real estate investment firm in the Americas, headquartered in New York with offices in São Paulo, San Francisco, Los Angeles, Atlanta, Charlotte, Phoenix, Dallas, Paris and Munich. The firm was started in 2005 and is managed by President and founder Tom Shapiro and seven other partners The firm manages $4.3 billion in gross assets and is active across a wide range of real estate sectors including single family and multifamily housing, office, industrial/logistics and hospitality as well as opportunity zone investments. The firm invests at various points in the capital structure including credit, common equity and structured equity. In the US, GTIS has invested in over 190 assets across 40 unique markets including growth areas such as Phoenix, Dallas, Houston, Denver, Atlanta, Tampa and Charlotte. In Brazil, GTIS is among the largest real estate private equity firms with holdings including office, residential, logistics, and hospitality investments. Marquee assets developed by GTIS Partners in São Paulo include the Infinity office building and Palácio Tangará, a five-star resort style hotel. For more information, please visit www.gtispartners.com.
MARKET OUTLOOK, MORTGAGE AND LENDING
Affinius Capital | March 13, 2023
USAA Real Estate recently announced it has successfully consummated a decade-long partnership with Square Mile Capital after acquiring the balance of Square Mile Capital in 2021. The final integration of the investment management platforms would be under a new corporate brand, Affinius Capital®. The company will continue to offer strategic equity and debt capital, and it will continue to capitalize on the growing demand for structured credit, technology-driven real estate assets, and flexible deal structures while addressing the pressing need for rental housing solutions under the new corporate brand name Affinius Capital.
The same dedicated and diverse group of senior leaders will be operating Affinius Capital, using the disciplined approach as previously to invest and align interests that have made USAA Real Estate and Square Mile Capital successful. In addition, former Square Mile CEO Craig Solomon will now be the CIO and Vice Chairman of the new company.
Affinius Capital, with the original approach of the two integrated companies, will continue to put its clients and their interests first and ensure they align with its own goals. It will also continue to look for risk-adjusted returns that have a positive and measurable effect on society while keeping its multifaceted focus on creative and dynamic solutions that use technological advances in digital automation, predictive analytics, and artificial intelligence. The company's headquarters will remain in San Antonio and New York, and regional experts will continue to operate in Amsterdam, Atlanta, Dallas, Chicago, Phoenix, Los Angeles, San Francisco, Seoul, and Washington, D.C.
About Affinius Capital
San Antonio, Texas-based Affinius Capital and affiliate companies invest across the risk spectrum for a client base worldwide, managing more than $35 billion within a diversified portfolio across Europe and North America as net assets under management. It offers strategic equity and debt capital to capitalize on the escalating demand for technology-driven real estate assets to meet the critical demands for housing solutions and other capital and market structure opportunities exhibiting convincing risk-return characteristics.