London house prices slump at fastest rate in almost 10 years

ONS | July 17, 2019

The price of a house in London fell by 4.4% over the year to May 2019, marking the biggest annual slowdown in almost ten years. Statistics released Wednesday by the U.K.s Office for National Statistics (ONS) reveal that Mays was the lowest annual rate in London since August 2009, when prices contracted 7.0% from August 2008.

Spotlight

Many potential homebuyers believe that they need a 20% down payment and a 780 FICO® score to qualify to buy a home, which stops many of them from even trying.

Spotlight

Many potential homebuyers believe that they need a 20% down payment and a 780 FICO® score to qualify to buy a home, which stops many of them from even trying.

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REAL ESTATE TECHNOLOGY

Sealy & Company Boosts Oklahoma City Holdings with Latest Addition of Irreplaceable Infill Warehouse

Sealy & Company | July 20, 2022

Sealy & Company, a fully-integrated commercial real estate investment and operating company and recognized leader in the industrial real estate market, announces the acquisition of 200 NW 142nd Street in the Oklahoma City MSA. The 27,000 square foot Class A Industrial property was acquired in an off-market deal for an undisclosed amount. The rear-load warehouse distribution center offers optimal functionality for a smaller warehouse, including nine dock-high doors, eight drive-in doors, 22’ clear heights, and minimal office finish-out. The property is located in one of Oklahoma City’s most attractive submarkets. The irreplaceable infill location is situated one mile from the intersection of Highway 77 and John Kilpatrick Turnpike and just five miles from Interstate-35. The property is currently 100% leased to three tenants Fueled by robust population growth and the rise of e-commerce, the Oklahoma City region has added 16.4 million SF of new industrial space since 2010. With the area’s central location, steady job growth, and strong transportation infrastructure, the region continues to solidify itself as an emerging logistics hub. Oklahoma City is only one of 14 cities across the country to add more than 100,000 people in the last ten years, according to 2020 data from the U.S. Census Bureau. Of the 25 largest cities by population, Oklahoma City had the sixth-fastest growth rate between 2010 and 2020 at 17.4 percent. “Sealy & Company first entered the Oklahoma City market in 2014. Since then, we have continued to seek investment opportunities in industrial real estate that align with our portfolio by design objective. Oklahoma City has been a great market for Sealy, and we look forward to continuing to acquire and develop quality industrial properties,” Davis Gibbs, Sealy & Company’s Director— Investment Services Jason Gandy, Managing Director – Investment Services, and Mr. Gibbs led the transactions for Sealy & Company. Jason Hammock of CBRE represented the seller. Sealy & Company Sealy & Company, a fully-integrated commercial real estate investment and operating company, is a recognized leader in acquiring, developing, and redeveloping regional distribution warehouses, industrial/flex, and other commercial properties. Sealy provides a full-service platform for high-net-worth individuals and institutional investors through our development, management, and brokerage divisions. Sealy & Company has an exceptional team of over 100 employees, located in eight offices, with corporate offices in Dallas, TX and Shreveport, LA.

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REAL ESTATE TECHNOLOGY

Built Expands Commercial Real Estate Product Suite for Lenders With Acquisition of Nativ

Built Technologies | August 01, 2022

Built Technologies, a leading software provider for real estate lenders and the construction industry, announced that it has acquired Nativ, a leading deal management platform for commercial real estate (CRE) lenders. The acquisition will enhance Built’s existing product suite for commercial lenders and enable improved underwriting and asset management capabilities across construction, transitional, and stabilized assets. Built Co-Founder and CEO Chase Gilbert said, “After years working with top real estate lenders in the US and Canada, our customers began voicing their desire for us to help them solve new problems beyond just managing their construction loans. Our customers were experiencing difficulties with the underwriting and asset-management of loans as well as with aggregate portfolio management and reporting. When we were introduced to Nativ, the powerful tools to streamline these very processes were an obvious fit. This acquisition will also give Built access to a rich data set for how various real estate assets are performing, allowing us to provide innovative risk intelligence products to our customers over time.” “Built’s construction lending solution offers our real estate clients an enhanced banking experience and aligns with Regions’ goal of innovating through technology. The recently announced collaboration between Built and Nativ is exciting, as the combined platform specializes in both construction and stabilized commercial real estate transaction management and allows lenders to work in their native workflows–all while benefiting from a centralized, audited, and enriched data model in the cloud.” – Tan Phillips, Regions Real Estate Banking CRE lenders often silo information required to make intelligent lending decisions. Managing this information manually is expensive and exposes lenders to unnecessary risk. This approach prevents lenders from making strategic decisions in a timely manner, constraining growth and hurting portfolio profitability. Nativ’s platform solves this by: Providing a centralized, collaborative system of record that synchronizes deal data across each loan stage Enabling lenders to integrate portfolio management while preserving familiar or “native” workflows including spreadsheets, and complementing common loan origination and servicing systems Layering on alerts and monitoring to validate loan covenant compliance Delivering flexible portfolio analytics, reporting and monitoring to manage risks and automate common tasks “Joining forces with Built will fundamentally change how lenders and owners work together, Lenders have long been underserved by a lack of modern, industry-specific tools to speed the process of closing and managing loans. Together, we will change the way lenders and owners transact in the entire ‘built’ world.” Jeff Saul, Co-CEO and Co-Founder, Nativ Saul and co-founder Adam Kerr join Built’s leadership team. The deal brings Built’s headcount to over 430 and expands the company’s presence in New York City. Built now serves over 220 lenders, including some of the largest non-bank lenders such as AllianceBernstein, Prime Finance and Benefit Street Partners. About Built Built is the leading provider of construction and real estate finance technology. By providing a centralized platform for all stakeholders, Built enables increased efficiency, collaboration, transparency, and business agility—with decreased risk—allowing customers to improve the way that the communities around them are built and managed. The Built platform is used by more than 220 leading North American lenders and asset managers, and thousands of developers, home builders and contractors. About Nativ Nativ is a leading enterprise software provider to the Commercial Real Estate investment industry. Nativ has helped clients across the country invest in and manage billions of CRE assets. Products focus on workflow automation and the use of proprietary technology to optimize the underwriting and investment decision process through improved harnessing and utilization of deal data. Clients include funds, REITs, banks and insurance companies across the U.S.

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BROKERAGE,REAL ESTATE INVESTMENT

The Carin Nguyen Real Estate Network Joins The Real Brokerage

Real Brokerage | August 18, 2022

The Real Brokerage Inc., an international, technology-powered real estate brokerage, today announced that The Carin Nguyen Real Estate Network, based in the Greater Phoenix Metropolitan area of Arizona, is joining its growing network of agents. The Carin Nguyen Real Estate Network was founded in 2014 by Carin and Son Nguyen, husband and wife partners who bring a combined 28 years of experience to the team. In the past 12 months, the team closed over 500 transactions, resulting in more than $210 million in closed volume. The team demonstrated success for 12 years at Keller Williams before making the move to Real and is proud to have been ranked among the top ten real estate teams in both Arizona and the United States by the Wall Street Journal over the course of the last decade. Carin, who is also an accomplished speaker, trainer, author and productivity coach, co-founded the team with a focus on empowering agents to thrive in any real estate market. We’re excited to be partnered with an organization that focuses on innovation in an ever-changing industry, Real’s commitment to working hard and being kind is in perfect alignment with our team’s mission, and we look forward to bringing our passion, professionalism and commitment to education and service to the organization,Carin said. “We’re excited to partner with The Carin Nguyen Real Estate Network to further expand our footprint in Arizona, Carin and team are committed to enabling agents to build wealth through real estate excellence, which makes them an ideal fit for our growing community of agents.” -Chairman and Chief Executive Officer Tamir Poleg About Real The Real Brokerage Inc. is revolutionizing the residential real estate industry by pairing best-in-class technology with the trusted guidance of the agent-led experience. Real delivers a cloud-based platform to improve efficiencies and empower agents to provide a seamless end-to-end experience for homebuyers and sellers. The company was founded in 2014 and serves 44 states, D.C., and two Canadian provinces with over 6,000 agents.

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