Mortgage rates drop to 3-year low

HousingWire | February 06, 2020

The average U.S. rate for a 30-year fixed mortgage this week fell to a three-year low of 3.45% as worries about coronavirus drove investors into the U.S. bond markets. That’s the lowest rate since 3.42% in the first week of October 2016 and it’s almost a full percentage point below the 4.41% recorded a year earlier, according to the Freddie Mac report. Investors are piling into U.S. bonds as a safe haven while the world weighs the possible economic implications of the coronavirus pandemic that has infected more than 20,000 people, primarily in China. The increase in competition for bonds, including mortgage-backed securities, squeezes yields and drives mortgage rates lower.

Spotlight

Demand for residential properties has surged due to increased urbanisation and rising household
income.

Under Union Budget 2021-22, tax deduction up to Rs. 1.5 lakh (US$ 2069.89) on interest on housing
loan, and tax holiday for affordable housing projects have been extended until the end of fiscal 2021-22.

Spotlight

Demand for residential properties has surged due to increased urbanisation and rising household
income.

Under Union Budget 2021-22, tax deduction up to Rs. 1.5 lakh (US$ 2069.89) on interest on housing
loan, and tax holiday for affordable housing projects have been extended until the end of fiscal 2021-22.

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REAL ESTATE ADVICE

Federal Realty Ranks First Among Peer Groups in 2022 GRESB Real Estate Assessment

Federal Realty | October 04, 2022

Federal Realty Investment Trust is pleased to announce that it has been recognized as a peer group leader in multiple categories in the 2022 Global Real Estate Sustainability Benchmark (GRESB) Real Estate Assessment. GRESB is a preeminent ESG benchmark for the real estate industry. The company earned the #1 ranking in the U.S. Publicly Listed Retail Centers peer group under the Standing Investments Benchmark Report and in the U.S. Diversified-Office/Residential peer group under the Development Benchmark Report. It also received an "A" Public Disclosure Score from GRESB for the second consecutive year and achieved "Green Star" recognition for the fifth year. The REIT was previously named "Development Sector Leader" in GRESB's 2020 Real Estate Assessment. "These GRESB results are an acknowledgment of the positive impacts of Federal's decades long focus on developing, building and operating its real estate assets in a way that is sustainable for the long-term, Federal's Board and management team share the expectations of our stakeholders that Federal act as a responsible corporate citizen and having a third party assessment by GRESB confirm that those expectations are being met is very gratifying." -David Faeder, Federal Realty's Non-Executive Chairman of the Board About Federal Realty Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty's mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 105 properties include approximately 3,100 tenants, in 25 million square feet, and approximately 3,400 residential units. Federal Realty has increased its quarterly dividends to its shareholders for 55 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT.

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REAL ESTATE INVESTMENT

Marcus & Millichap and Project Destined Announce Expanded Partnership

Marcus & Millichap, Inc. | September 17, 2022

Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today their expanded relationship with Project Destined, a leading social impact platform that provides training in financial literacy, entrepreneurship, and real estate. “It is a privilege to partner with Project Destined to further support individuals from all backgrounds who are passionate about exploring careers in commercial real estate, The participants are impressive, and the program is exceptionally well run. The mission of Project Destined aligns with Marcus & Millichap’s commitment to cultivating a strong educational foundation and providing a clear pathway to successful careers in commercial real estate.” -Richard Matricaria, executive vice president and chief operating officer, Western division, Marcus & Millichap Project Destined was founded by former Carlyle Group executive Cedric Bobo and has partnered with leading real estate firms and universities around the country to provide students from all backgrounds with paid, virtual internship opportunities where they can explore the real estate industry and ownership through live real estate deals in various cities across the United States. By joining forces with Marcus & Millichap, a revered leader in commercial real estate brokerage since 1971, we present a unique opportunity for students to gain real-time knowledge and experience at the start of their careers, Building a strong foundation together furthers our ability to provide access and resources for individuals who may not otherwise be supported. We are excited to grow our partnership with Marcus & Millichap,said Bobo. Beginning in spring 2021, Marcus & Millichap partnered with Project Destined in the San Francisco Bay Area, Chicago, Los Angeles, and Dallas, to provide participants with mentors of various levels, including executives, regional managers, and investment sales professionals, who taught intern scholars the nuances of commercial real estate. Interns benefited from an eight-week Investment Sales Bootcamp featuring an executive speaker series, specialized workshops, and scholarship opportunities. The partnership expands with the launch of Project Destined in Vancouver, Washington in fall of 2022, opening opportunity to more participants. A new Executive Speaker series will begin in October 2022. Marcus & Millichap also provides development for interested, driven individuals via the William A. Millichap Fellowship, a 24-month training and development program that progressively builds on critical research, financial analysis, marketing, and relationship-building skills. About Marcus & Millichap, Inc. Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion.

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REAL ESTATE INVESTMENT

HappyCo Acquires Canadian Rental Lifecycle Management Firm Yuhu

HappyCo | November 03, 2022

HappyCo, the leading residential operations platform for real-time rental property data collection and utilization, is acquiring Toronto-based Yuhu, a comprehensive rental lifecycle management platform. Terms of the deal were not disclosed. Yuhu's operations platform is utilized by top property owners and operators such as Boardwalk, CAPREIT, and BentallGreenOak and services over 500,000 prospects and residents across Canada and Europe. "We've known the Yuhu team for quite some time and both companies share a similar culture and common vision to improve the multifamily industry, The merger of our firms broadens our collective impact on the overall resident lifecycle, and will allow us to capture more actionable data, create opportunities to enhance resident experiences, and streamline property operations to ease the daily workload of onsite teams." -HappyCo CEO, Jindou Lee Yuhu's cloud-based software for property owners and managers will be integrated into HappyCo's 'Happy Property Suites' and 'Happy Force' products to offer a complete operations solution for customers and residents. The Yuhu acquisition provides HappyCo with a resident-facing solution that significantly enhances its existing products and offers HappyCo customers a cohesive product that delivers an end-to-end view of the property lifecycle. As part of the acquisition, Yuhu's current employees will join the HappyCo team, including Hugh Kolias, CEO of Yuhu, who will join as EVP. Existing Yuhu customers will benefit from an expanded solutions platform, accelerated product investment, and broader support while enjoying continuity of service. We are thrilled to join forces with Jindou and the HappyCo team to achieve our shared vision to enhance the quality of life for multifamily residents and operators, By bringing our teams and products together, we're able to provide our mutual client-partners with an even better all-around experience,said Kolias. Founded in 2011, HappyCo is the leading source of condition assessments and workflow tools for the multifamily market. Designed to automate, simplify, and protect data collected during residential rental property inspections, the platform has in-unit data on more than 3.5 million multifamily and single-family rental homes – notably one out of every eight professionally managed units in the U.S. The company provides vital underwriting information to lenders, investors, and asset managers, and empowers property managers with real-time operational tools and reporting. In 2021, HappyCo data were relied upon in about 26 percent of all U.S. sales transactions of multifamily units.  HappyCo also serves property managers, offering a complete suite of apps to simplify processes, drive better performance and generate comprehensive views of assets within a portfolio. About HappyCo HappyCo is a real estate software company that develops mobile and cloud solutions to enable real-time operations data for property managers, asset managers, lenders, and investors. Its software suite includes market-leading condition assessment and workflow tools with in-unit data on over 3.5 million rental homes. Founded in 2011 in Adelaide, Australia, the company is privately held with a remote workforce throughout the US, Canada, and Australia. About Yu hu Yuhu Inc. is a cloud-based multifamily operations platform that manages the entire rental lifecycle from lead to renewal. Yuhu's product suite provides onsite teams with a single, comprehensive solution and access to consolidated data insights. Founded in 2015, Yuhu supports over half a million residents, onsite staff, and prospects for its client-partners including Avenue Living, BentallGreenOak, Boardwalk, CAPREIT, Concert, Hollyburn, Campus Living Centers, Westdale, and other leaders in the Canadian multifamily industry.

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