MARKET OUTLOOK, REAL ESTATE INVESTMENT
Businesswire | May 18, 2023
Cherre, the leading real estate data integration and insights platform, today announced its new Data Submissions Portal, a product that automates and streamlines data collection and reporting. Building on Cherre’s ability to connect all client data from internal systems and third-party data vendors, the Cherre Data Submissions Portal allows customers to easily collect data from their service providers and partners (including property managers, fund administrators, and joint venture partners) and use it to power faster and smarter reporting – while retaining complete control of the process.
The Cherre Data Submissions Portal solves the common challenges that investment managers and fund administrators face when collecting data from their service providers and partners. These challenges include manual mapping, validation, review, and approval; inconsistent data formats; incomplete or inaccurate data; delayed or missing reports; and a lack of transparency into submission status across providers within a cycle. The Cherre Data Submissions Portal automates and simplifies the entire data collection and reporting process, enabling customers to:
Choose from Cherre’s prebuilt library of financial, operational, and ESG submission templates, or to customize their own.
Manage master data mappings, including easily adding or editing the chart of account mappings.
Invite service providers and partners to submit data through a secure and user-friendly interface.
Validate and standardize data using Cherre’s robust library of validation rules.
Manage and track submissions through a configurable review, commentary, and approval workflow.
Review and approve data with one click, then access it in real time using Cherre’s asset management dashboards or export it to a downstream data warehouse or financial application.
“The Cherre Data Submissions Portal gives our customers unprecedented flexibility, control, and transparency over their submission cycles,” said Yuri Andersen, Senior Product Manager at Cherre. “Investment and fund managers can now easily collect and validate data from their providers in a scalable and secure way. This solution allows them to save time and money on data management, ensure accuracy and timeliness, and focus less on data wrangling and more on reporting and decision making on their assets.”
The Cherre Data Submissions Portal helps investment managers and fund administrators improve their data quality, efficiency, and transparency. By using the Cherre Data Submissions Portal, customers can:
Reduce manual data collection and reporting costs.
Increase data accuracy and completeness.
Accelerate reporting cycles.
Quickly onboard new third-party service providers and partners.
Monitor and assess the performance of their service providers and partners.
Enhance data-driven decision making and performance optimization across their portfolio.
“With the Cherre Data Submissions Portal, we have solved a long-standing problem for investment managers and fund administrators,” said L.D. Salmanson, CEO and Co-Founder of Cherre. “Unlike manual, outsourced, or subpar solutions, our portal offers a comprehensive and seamless way to collect, validate, approve, and access data from any source, providing our clients with a full and holistic solution for all their data needs.”
Thanks to the unprecedented flexibility of the portal and Cherre’s data engine, customers can ingest and map any type of real estate data including financial, operational, tenant experience, ESG, and endless other topics.
Cherre is the leader in real estate data and insight. We connect decision makers to accurate property and market information, and help them make faster, smarter decisions. By providing a unique “single source of truth,” Cherre empowers customers to evaluate opportunities and trends faster and more accurately, while saving millions of dollars in manual data collection and analytics costs. Cherre launched in 2016 and is located in New York City.
REAL ESTATE TECHNOLOGY, MORTGAGE AND LENDING
Businesswire | May 11, 2023
Coviance (formerly LenderClose), a fintech company automating the process of home equity lending for over 400 credit unions and community banks, announced a deeper partnership today with MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies. Coviance expands its integration with MeridianLink®, offering its technology to MeridianLink® Mortgage users in addition to the current integration already in place into MeridianLink® Consumer.
"Through this partnership, we deliver a strong user experience for customers and prospects MeridianLink Mortgage and Coviance share, by streamlining not only the home equity experience, but focusing on providing value throughout the real estate lending cycle," says Jill Skinner, CMO of Coviance. “We understand the complexity of real estate and home equity lending, including the intricacies of compliance and efficiencies and this integration gives community lenders access to even more process automation.”
With Coviance's lending solutions integrated into MeridianLink Mortgage, lenders have the ability to process real estate and home equity transactions in days versus weeks. This integration enables lenders to leverage data and intelligence to provide the best experience to their borrowers.
"We appreciate our long-standing partnership with Coviance and are excited to extend their offerings to our mortgage customers through our partner marketplace," says Megan Pulliam, SVP of MeridianLink Marketplace. "This integration will enable our joint customers to reduce friction and accelerate their lending cycle while benefiting from streamlined capabilities within the MeridianLink One platform."
Omar Jordan, Founder and CEO of Coviance, added: "We are thrilled to partner with MeridianLink to deliver a more simplified and efficient transaction experience for our customers. Our combined strengths in decisioning capabilities and workflow automation solutions will help lenders optimize their lending processes, driving down home equity and real estate lending transaction timelines to just days, or even hours."
The Coviance-MeridianLink Mortgage and Consumer integrations are available now for lenders through MeridianLink's loan origination software. For more information on the integration, please contact Coviance or MeridianLink.
Founded in 2015, Coviance (formerly LenderClose) is a fintech company on a mission to perfect the lending experience for community lenders and borrowers through automation and intelligence. A cloud-based platform, Home Equity Express™ (HEx), automates the home equity lending process through configurable workflows with data-driven decisioning intelligence elevating the lending experience for borrowers and lenders. For Credit Unions and Community Banks, Coviance is an out-of-the-box solution that is simple to implement and deploy and allows them to focus on what matters most – “the borrower’s experience”. Coviance earned a spot on the Inc. 5000 List of Fastest Growing Private Companies in the U.S. in 2022.
MeridianLink® (NYSE: MLNK) powers digital lending and account opening for financial institutions and provides data verification solutions for consumer reporting agencies. MeridianLink’s scalable, cloud-based platforms help customers build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle.
MeridianLink enables customers to accelerate revenue growth, reduce risk, and exceed consumer expectations through seamless digital experiences. Its partner marketplace supports hundreds of integrations for tailored innovation. For more than 20 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities.
REAL ESTATE INVESTMENT, MORTGAGE AND LENDING
PRnewswire | April 18, 2023
NexPoint, a multibillion-dollar alternative investment firm, today announced the launch of NexPoint Storage IV DST, a Delaware statutory trust ("DST") offering comprised of three Class A, GenerationV ("GenV") assets in submarkets with high levels of growth and average household income in the Phoenix, Arizona and St. Petersburg, Florida metropolitan statistical areas ("MSAs")
NexPoint Storage Partners, Inc. acquired the assets for inclusion in NexPoint Storage IV DST, which aims to raise $70.3 million. The assets are managed by Extra Space Storage and offer revenue and value growth potential in two of Arizona and Florida's MSAs. Extra Space is the largest third-party self-storage manager in the U.S., with over 1,200 properties under management for third parties and managed joint ventures across 40 states.
"We are very excited to launch NexPoint Storage DST IV with ownership in three premium assets in two MSAs that are among the top 10 fastest growing in the U.S. and in one of the fastest-growing sectors in the commercial real estate space" said John Good, CEO of NexPoint Storage Partners. "We believe this is a terrific opportunity for accredited investors to gain exposure to the self-storage sector."
Two of the assets are located in the Phoenix MSA, which has a population of nearly 5 million. Phoenix has experienced rapid employment growth as high-tech companies like Intel Corp., General Dynamics, and Honeywell set up larger operations in the Phoenix MSA, in turn making Phoenix one of the popular destination cities for millennial migration. The third asset is located in the St. Petersburg area, which is the third-largest MSA in the southeastern U.S. with a population of 3 million. Population in the area – which includes the cities of Tampa and St. Petersburg – has grown nearly 14% since 2011.
According to the Self Storage Assocation, the self-storage sector has been the fastest-growing segment of the commercial real estate industry over the last 40 years. The demand for self-storage continues to strengthen as healthy job growth, rising wages, increased mobility and the formation of new households support the need for self-storage. Nationally, the self-storage sector experienced double-digit revenue and net operating income growth in 2021 and 2022 and has entered 2023 with continued strong customer demand and historically high occupancies per S&P Global Market Intelligence.
These assets continue NexPoint's growth in the self-storage sector. NexPoint's self-storage platform was developed from the ground up with entrepreneurial developers having substantial experience in selecting, acquiring, and entitling sites for self-storage development. Today, the platform is comprised of an investment portfolio, including wholly-owned and managed vehicles and DSTs, valued in excess of $2 billion.
NexPoint is a multibillion-dollar alternative investment firm comprised of a group of investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles. NexPoint provides differentiated access to alternatives through a range of investment solutions, including public and private real estate investment trusts, tax-advantaged real estate vehicles, merger arbitrage and event driven strategies, other private real estate investments, open-end and closed-end funds, interval funds and a business development company. NexPoint is based in Dallas, Texas and is part of a network of affiliates with expertise across the asset management and financial services spaces. For more information, visit nexpoint.com.
About NexPoint Storage
NexPoint Storage is a real estate investment platform that specializes in the self-storage sector. A product of NexPoint's 2020 acquisition of Jernigan Capital, NexPoint Storage invests in newly built, multi-story, climate-controlled, Class-A self-storage facilities—known as "Generation V" facilities—located in dense and growing markets throughout the U.S. NexPoint Storage acquires and selectively develops GenV self-storage facilities. The platform leverages resources and expertise across NexPoint, especially in the areas of real estate financing, product strategy, and distribution. For more information, visit nexpointstorage.com.