Most U.S. Home Building Primarily in Millennial Areas in 2019

National Association of Home Builders | December 04, 2019

According to the latest quarterly National Association of Home Builders' Home Building Geography Index (HBGI), the majority of single-family and multifamily housing production in the nation is occurring in counties with the greatest concentration of millennials. However, in a warning sign that the housing affordability crisis persists and more construction is needed, the pace of housing production in areas with the greatest concentration of millennials lags the rest of the nation. The third quarterly release of the HBGI sheds new light on the housing market by focusing on where millennials live. "Millennial counties" are defined as geographic areas where at least 26 percent of the population consists of this growing demographic group. These millennial counties are diverse, representing major metro areas including several California markets, Seattle, Portland, Boston, and Washington, D.C., as well as more rural counties in places such as Ohio, Kansas and Missouri.

Spotlight

Chicago is one of the most active commercial real estate investment markets in the United-States today. Yet, the "Windy City" may change more within the next ten years than it has over the past century.

Spotlight

Chicago is one of the most active commercial real estate investment markets in the United-States today. Yet, the "Windy City" may change more within the next ten years than it has over the past century.

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MARKET OUTLOOK

Livly expands into Australia and New Zealand in new partnership with Franklin St.

Livly | August 31, 2021

Livly, Inc the Chicago-based technology company bringing a unified operating system to multifamily residential properties, today announced the launch of its new partnership with Franklin St., a leading Australian real estate development, investment, and management company. The two companies will partner on the launch of the Livly digital platform within Franklin St.'s Australian portfolio and throughout the broader Australian and New Zealand markets. Franklin Street and Livly partner to provide a seamless digital solution for property managers and residents. The Livly operating system will be made available for immediate integration throughout Franklin St.’s Australian development portfolio and throughout the broader Australian and New Zealand markets shortly. "Over the last few months, Livly and Franklin St. have worked collaboratively to bring our industry leading resident operating system to Franklin St.," said Alex Samoylovich, Co-CEO of Livly. "We couldn't be more excited to partner with a leading residential property development and investment firm in Franklin St., bringing Livly to new markets in Australia and New Zealand." Following a comprehensive assessment of requirements, Livly has developed a unique set of digital applications that will drive efficiency for property staff and elevate resident experiences throughout the portfolio. In partnering with Franklin St., Livly will not only open new markets but also enter the build to rent vertical as well, the Australian equivalent of multifamily. "Providing exceptional resident experience has always been a core pillar of our property strategy," said Jeremy Quinn, Principal at Franklin St. "The importance of having high-quality management services that provide seamless, digital solutions to everyday tasks and processes has never been greater. Partnering with Livly enables us to provide a truly unparalleled experience across our portfolio." Livly will be made available for immediate integration throughout Franklin St.'s Australian development portfolio and throughout the broader Australian and New Zealand markets shortly. About Franklin St. One of Australia's most experienced multifamily developers and investors, Franklin St. has an international track record in what is an emerging asset class in Australia. With over 2,000 apartments in development, Franklin St. is at the forefront, delivering innovative and cutting-edge solutions and developments for their customers and investment partners. We have previously delivered and funded market leading multifamily projects in both the US and UK. With market-wide coverage in Australia, we are a gateway for US and other international capital looking to capitalize on the emergence of multifamily (known as Build-to-Rent locally) and take advantage of early mover opportunities in Australia. About Livly, Inc. Livly, Inc. is revolutionizing apartment living & powering communities across the globe. Founded in Chicago in 2017, Livly has built the first unified enterprise-grade operating system tailored specifically for residential properties. The Livly operating system serves as the remote control for apartment living, connecting residents, guests, staff, and vendors with state-of-the-art software, access controls, services, and comprehensive data analytics. With an ever-evolving client-driven tech stack and an inclusive approach to industry partnerships, Livly is quickly establishing itself as the market leading resident experience operating system.

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REAL ESTATE TECHNOLOGY

For home-sellers in a hurry, William Raveis Real Estate opens new doors.

Raveis | April 12, 2021

Low home loan rates, joined with popularity and low stock, have brought about an exceptionally serious housing market, making numerous potential purchasers stress over missing out on their fantasy home while their present property is recorded. William Raveis Real Estate, Mortgage and Insurance (WRRE), the top family-claimed land organization traversing the Northeast and Florida, settles this sell-before-you-purchase issue with another program called Raveis Purchase. Under Raveis Purchase, dispatched recently, WRRE will buy a customer's home, empowering them to open their home value rapidly so they can make a certain, non-unexpected proposal on their next home, which WRRE will likewise help them purchase, fund and guarantee. The program is the most advantageous assistance for a home-vender who needs to sell and purchase in a rush. WRRE will procure the house vender's property for an underlying installment of up to 80 percent of the current estimation of the home, opening most of the value and empowering the home-merchant to settle any home loans. Utilizing another new apparatus, Raveis Refresh, WRRE will at that point set up the home available to be purchased with their organization of master originators and exclusive merchant stage, making any essential overhauls and remodels to expand the home's estimation to guarantee the home sells at the greatest expense and as fast as could really be expected. When the home sells, the property holder will get the returns, which may surpass market assumptions and extra worth. This help is accessible all through Raveis' nine-state impression (Florida, Connecticut, Massachusetts, Rhode Island, Vermont, New Hampshire, Maine, New York, New Jersey) and for homes at all value focuses. "Raveis Purchase is the ultimate in hassle-free home-selling," said Ryan Raveis, Co-President of WRRE and President of William Raveis Mortgage. "For homeowners who want to maximize the value of their home and take advantage of this hot real estate market, Raveis Purchase is a no-brainer and a guaranteed sale. They will have cash in hand and be ready for their next home."

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REAL ESTATE TECHNOLOGY

Genesis San Diego Lands First Life Science Tenant

Barings | June 22, 2022

Barings, one of the world's largest diversified real estate investment managers, along with Phase 3 Real Estate Partners and Bain Capital Real Estate, announced its joint venture has signed its first tenant to Genesis San Diego, a premier Class A life science building in Downtown San Diego, California. Formerly known as The Thomas Jefferson School of Law, this approximately 203,000 square foot, 8-story office building located at 1155 Island Avenue has been transformed into a state-of-the-art life science property. Modifications and improvements include upgraded HVAC and plumbing infrastructure (including VRF heating and cooling systems, new exhaust fans, 100% outside air for lab areas, and needlepoint bipolar ionization) along with a new 5,000 lb. service elevator and upgraded lab floor loads. Additional enhancements include a new lab services facility with a glass wash, autoclave and staffed shipping and receiving room, a top floor lounge and event space, and ready-to-occupy 'spec suites' consisting of 50% lab / 50% office built out in various sizes throughout the building. Barings is excited to lead the life science migration to Downtown San Diego, giving tenants a highly amenitized work, live and play environment. Greater San Diego is an undeniable life sciences global capital and we continue to hear from life science leaders interested in a downtown, urban destination. This investment is a prime example of Barings' value-add real estate investment strategy focusing on creating unique, competitive assets that attract innovative tenant demand." Joe Gorin, Managing Director, Head of US Acquisitions and Portfolio Management for Barings "Delivering premier Class A research ready life science environments that meet the needs of visionary companies continues to be our focus," added BJ Van Aken, Executive Vice President, West and Head of Portfolio Operations for Phase 3 Real Estate Partners. "As a key component of our Genesis portfolio, Genesis San Diego sits at the forefront of life science assets in greater San Diego, and provides the modern design and opportunities for innovation that will bring tenants to this exciting downtown location." Life sciences are a major driver of San Diego's innovation economy. The region is home to more than a thousand life sciences companies, and as the third largest life sciences cluster in the nation, demand for high-quality lab space in greater San Diego continues to increase. While suburban Torrey Pines and Sorrento Mesa have historically answered the call for life science asset needs, Downtown San Diego is poised to be the next life sciences node for greater San Diego given its unmatched amenities, proximity to the popular Gaslamp Quarter and Petco Park, key connections to the existing scientific community such as the new UCSD satellite building, and commutability via the extension of the Blue Trolley line. "Downtown San Diego has all the building blocks for a successful life science industry cluster," added Betsy Brennan, President & CEO of the Downtown San Diego Partnership. "Our community has long known this and our 2021 Demographic Study proves it. Whether it's the highly skilled talent living here, a lifestyle that can't be beat, connectivity to our regional ecosystem of innovation, or new projects like Genesis San Diego that offer quality lab and office space, Downtown is where dreams are becoming reality." Genesis San Diego represents a commitment to sustainability, tenant health and wellness, and digital connectivity. The development includes smart building systems, green design elements, and is currently LEED-Gold. About Barings Barings is a $371+ billion global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. About Genesis Genesis is a life science real estate brand that leverages the deep experience and global breadth of its owners' partnership to create an environment focused on meeting the needs of its tenants to accelerate their ground-breaking discovery. Genesis' owners unique integrated venture combines Phase 3 Real Estate Partner's decades of life science real estate development and tenant experience with Bain Capital's pioneering value-add investment approach and the firm's decades of leading experience in the Healthcare and Life Science industry. At Genesis, we relentlessly pursue not only to provide the right environment today but through our deep industry partnerships and participation provide the best environment for cultivating tomorrow's undiscovered advances in science. About Phase 3 Real Estate Partners Phase 3 Real Estate Partners, Inc., develops premier ready to occupy research and development facilities in the major innovation clusters of the United States. Phase 3's focus on delivering the highest quality space with accelerated speed to occupancy within these key geographies allows companies to immediately pursue their scientific goals. The Phase 3 team delivers a clean, modern design aesthetic, the right combination of amenities to create community and appropriate infrastructure to meet the needs of the companies who call our facilities home. The firm's expertise in development, construction and management of life science facilities results in a strong partnership between our tenants and our team. Phase 3's current portfolio consists of nearly 4.5 million square feet and is growing in San Diego, San Francisco and Boston. About Bain Capital Real Estate Bain Capital Real Estate was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested and committed more than $6.8 billion of equity in more than 550 assets across multiple sectors, including more than $1.7 billion in over 6.8 million SF of life sciences assets. Bain Capital Real Estate focuses on small to mid-sized assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate's strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm's global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities.

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