Mortgage Rates in U.S. Remain Low in Late August

Freddie Mac | September 04, 2019

According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage rate in the last week of August 2019 averaged 3.58 percent in the U.S., a slight increase from last week.
Sam Khater, Freddie Mac's Chief Economist says, "Mortgage rates inched up slightly this week, closing the month with the 30-year fixed-rate mortgage rate averaging 3.6 percent - almost a full percent from the same time last year. Low mortgage rates along with a strong labor market are fueling the consumer-driven economy by boosting their purchasing power, which will certainly support housing market activity in the coming months."

Spotlight

When you're investing in real estate, using a real estate agent that specializes in rental properties is VERY important. Investing in real estate is a completely different business than selling the average home with the white picket fence.

Spotlight

When you're investing in real estate, using a real estate agent that specializes in rental properties is VERY important. Investing in real estate is a completely different business than selling the average home with the white picket fence.

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INVESTMENTS

Dreamscape Companies and Meritage Group Acquire New Construction Nashville Holiday Inn & Suites Downtown

Dreamscape | December 14, 2021

A joint-venture between affiliates of Dreamscape Companies and Meritage Group LP completed the acquisition of the Nashville Holiday Inn & Suites Downtown, a newly constructed hotel situated in the heart of Downtown Nashville in the city's vibrant SoBro (South of Broadway) neighborhood. This purchase marks Dreamscape's second hospitality transaction in the city in 2021, having acquired The Sheraton Grand Nashville Downtown in June. The purchase of this 230-room hotel underscores Dreamscape's commitment to expanding its presence in the Nashville market, as well as identifying prime growth opportunities in key regional areas across the country. "We are very pleased to be partnering with Meritage on this exciting deal. Nashville has long signified an area of keen interest for us, and after entering the market earlier this year with the purchase of The Sheraton Grand Nashville Downtown, we immediately knew that we wanted to expand our footprint in this booming city, which continues to attract tourists from all over the country as well as across the globe." -Eric Birnbaum, Founder and CEO of Dreamscape Companies "We are thrilled to be expanding our presence in Nashville given the strong market fundamentals. This transaction marks Dreamscape's fifth acquisition in the last year and fits squarely into our thesis to acquire assets in high-growth markets at an attractive basis." -Scott Broder, President of Dreamscape Hospitality The Nashville Holiday Inn & Suites Downtown, located at 415 4th Avenue South, has been outfitted with 230 rooms and 8,700 square feet of first-class meeting space, making it an ideal establishment for leisure and business travelers alike. The property, which opened its doors just two years ago, also includes the street front cocktail bar and restaurant, 4th and Peabody, which is preparing to undergo a thoughtful renovation, as well as an on-site parking garage. In addition to reimagining the hotel's dining concept, Dreamscape is also planning to integrate additional retail concepts within the property's expansive lobby. "We are pleased to partner with Dreamscape to acquire another leisure-oriented, new construction hospitality asset in a dynamic growth market. This is a continuation of Meritage's broader commitment to investing in downtown Nashville, which began in 2017, and this marks our fifth investment in Nashville of strategically located, urban-core assets." -Jared Halperin, a Managing Director at Meritage Located just a short walk from the city's ever-bustling and widely trafficked Broadway strip, the Nashville Holiday Inn & Suites Downtown places visitors in close proximity to Bridgestone Arena; Music City Center, the city's convention center; and other iconic institutions and landmarks. Additionally, those craving the best Nashville has to offer will delight in knowing that the hotel is situated just across the street from Nashville's famous barbeque restaurant, Martin's BBQ Joint. About Dreamscape Dreamscape's mission is to create long-term financial prosperity through a diversified portfolio of differentiated, forward-thinking real estate projects. Led by Founder and CEO Eric Birnbaum, Dreamscape owns and operates residential, retail, hospitality, entertainment and gaming properties, (re)developing experience-centered spaces that focus on maximizing each property's intrinsic value. About Meritage Group LP Meritage is a fundamentally-oriented investment firm with assets under management in excess of $11 billion as of December 31, 2020. Meritage invests in public and private equity, credit and real estate. The firm has approximately 50 employees in offices located in Greenwich, New York City, and San Francisco.

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LMC Announces Start of Preleasing at Odin Apartments

prnewswire | October 01, 2020

LMC, a wholly owned subsidiary of Lennar Corporation and a leader in apartment development and management, today announced the start of preleasing at Odin, a contemporary mixed-use apartment community in the increasingly popular Northeast neighborhood of Minneapolis. Odin, which features 335 apartment homes and nearly 8,000 square feet of retail space, includes a 12-story high-rise and five-story midrise building in a highly walkable and bikeable downtown locale. The community is equipped with work-from-home spaces as part of plush array of common-area amenities, including a flexible lounge to cater to the ever-prominent remote worker. Odin offers virtual leasing options and will welcome its first residents in the fall.

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REAL ESTATE INVESTMENT

Vertical Street Ventures and Partners Acquire Highrise Apartment Complex in Downtown Tucson

Vertical Street Ventures | March 01, 2022

Vertical Street Ventures (VSV) announces the acquisition of Redondo Tower, a downtown High Rise apartment building, in Tucson, AZ. VSV teamed up with Ral West and John Hardwick of Hardwick Apartment Homes, Ashok Patil and Mohit Bansal of Prime Investment LLC, and Louie Caumban and Rosalind Caumban of Fastpath Capital Group LLC. This marks VSV's 5th property purchased in the Tucson, AZ market and 12th property acquired in the Arizona Market. Arbor Realty Trust provided the debt on the project. MEB Management will manage the property. Design and Construction will be managed by Gia Venturi. When we discovered Redondo Tower was available for purchase, we immediately jumped on the opportunity, We've invested in Tucson for several years now and Redondo Tower has always been a fixture in the downtown area. We're thrilled and honored to take on this project for the City of Tucson. We'll take it through a major renovation and add to the fabric of downtown's revitalization." Ronnie Gou, a Managing Partner for VSV. A 96-unit high rise apartment building, Redondo Tower is a key part of downtown Tucson, which will be rebranded Vertical Heights. Residents of the property will enjoy many new amenities, including adding a new rooftop lounge, a new gym and yoga studio, a state-of-the-art co-working lounge, and modernizing the existing pool. Its interior units will undergo extension renovation with brand new kitchens, bathrooms, and newly added Washer/Dryers in each unit. Located centrally right off the 10 freeway, a 5-minute walk to anywhere downtown, and a 10 minute drive to the University of Arizona campus, this is a prime location for many job sectors. With Tucson market vacancy at 4%, Tucson residents continue to look for great places to live. VSV will continue its strategy of finding communities to improve in high growth markets residing in excellent locations throughout the Arizona and Texas Markets. About Vertical Street Ventures Vertical Street Ventures (also known as VSV) is a commercial real estate private equity firm, led by Managing Partners Steven Louie, Jenny Gou, Kyle Mitchell, and Ronnie Gou. With a mission to improve communities nationally, VSV has grown substantially in the last year, growing its current portfolio of assets to $182 Million this year across the Arizona and Texas markets. VSV helps busy professionals build passive income through investing in real estate syndications.

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