REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Chime Technologies | September 29, 2022
Chime Technologies, an award-winning real estate technology innovator, today announced it has acquired Rentancy, a provider of innovative property management software and services. With a shared mission to streamline and automate the time consuming, manual tasks typically associated with the real estate process and an unwavering commitment to innovative technology development, Chime and Rentancy will deliver a more comprehensive platform to address the entire real estate process from end to end.
Designed to improve property rent collection, accounting, and cash flow management for both residential and commercial properties, Rentancy’s unique software and services help real estate professionals stay focused on delivering stellar client service and growing their business. Rentancy’s flexible business model has proven to help boost profits, unleash cash flow, and simplify operations for customers across the UK. The addition of Rentancy to the robust Chime platform will enhance and streamline back-office capabilities and tenant sourcing operations to support the entire real estate lifecycle. Through this integration, Chime is well poised to deliver the technology solutions agents need to be successful in property management, a global market projected to grow to nearly $20 billion in 2022.
This news comes on the heels of several new Chime products unveiled this year including the Enterprise Platform, Active Recruiting, and Social Studio, to support the unique needs of Chime’s nearly 40,000 active users. The acquisition provides opportunity for geographic expansion across EMEA and underscores a commitment to delivering an end-to-end real estate business platform, purpose-built to help strategic real estate professionals succeed in an increasingly competitive market.
"Our mission is to provide the best technology tools and collaboration platform to help EVERY real estate professional globally thrive and prosper in today's highly competitive, technology-enhanced world, With Rentancy, we are at the beginning of a long-term product and business development journey expanding into European markets and global property management SaaS space."
-Joe Chen, CEO, Chime
The natural synergy between Rentancy and Chime was clear from the start and we are delighted to be part of the team, By combining our property management software and services with Chime’s award-winning sales acceleration platform, we can offer a complete real estate business solution that streamlines operations and empowers our clients to focus on building their business,said Kurt Lyall, Founder & CEO Rentancy.
About Chime Technologies
Chime is an award-winning real estate technology innovator headquartered in Phoenix, Arizona. Our AI-powered platform empowers real estate professionals, teams, and brokerages with the tools they need to automate lead generation operations, drive conversions, and grow their business.
REAL ESTATE INVESTMENT
Cadre | October 14, 2022
Cadre, the leading technology-driven real estate investment platform, has launched its latest investment offering, the Cadre Horizon Fund. The Cadre Horizon Fund builds on Cadre’s exceptional track record (~28% realized net IRR) and will enable an even wider base of investors to access a diversified portfolio of premier real estate across the country. The Horizon Fund also offers investors the opportunity to invest in an asset class that serves as a hedge against inflation while providing stable yield and income at a time of significant broader macro volatility.
Powered by Cadre’s high-tech/high-touch approach, the Cadre Horizon Fund features a high quality portfolio of income-oriented real estate investments in the country’s strongest markets. The investment solution is oriented towards individuals looking to invest alongside an experienced manager and diversify outside of stocks and bonds through defensive, recession-resilient sectors such as multifamily, light warehouse, and leisure hotels. The Horizon Fund will ultimately be an SEC-registered REIT in order to provide investors with unique tax benefits that real estate investing offers, including tax-advantaged distributions.
According to a recent survey by Cadre and Underground Research, 73% of mass affluent investors are interested in commercial real estate and 68% want to diversify their portfolios. As more individuals grapple with extraordinarily high inflation and global instability, the Cadre Horizon Fund aims to help investors hedge public headwinds in private real estate markets. Over the last 20 years, private real estate has delivered returns comparable to equities with ~66% less volatility. Meanwhile private real estate has delivered average returns ~6.6% higher than the U.S. Consumer Price Index, a central indicator of rising inflation.
“We have long intended to release an income-oriented product and are proud to open the Horizon Fund at an important time when more investors need the option to invest in products that provide yield, appreciation, and downside protection private real estate offers, Our individual deal investments and the Cadre Direct Access Fund continue to demonstrate the wealth-building power of commercial real estate through compelling returns. The Horizon Fund represents our conviction in CRE’s ability to generate income – a feature we are excited to share with our investors.”
- Dan Rosenbloom, Cadre’s Head of Investments
The Horizon Fund is another step in Cadre’s rapid evolution and growth. The firm has methodically scaled and delivered exceptional results since its founding. Cadre has invested in assets eclipsing $5 billion in value across 25 markets in the U.S., while generating an average ~28% realized net IRR and 1.8x realized net equity multiple to hundreds of clients around the world. Cadre’s experienced investments team brings rigorous, institutional diligence, and proactive asset management – paired with advanced proprietary technology and data analytics – leading to more than $460mm in distributions to investors. Following the close of The Cadre Direct Access Fund earlier this year, the fund generated impressive realized returns to investors with the first two property sales in the fund achieving 40.2% and 67.3% realized net IRRs and doubling investors money in less than two years.
I founded Cadre to expand access to premier real estate investments. With a tax-advantaged structure, lower investment minimums, and a strategy focused on delivering yield with lower volatility, our Fund is positioned to support more investors achieve better financial futures than ever before, Through the Horizon Fund, we are bringing access to a diversified portfolio of assets in carefully selected sectors such as multifamily and industrial and high-growth geographies. The launch of the fund should prove critical to improving investors' financial futures, while empowering more individuals than ever before to access and learn more about this important sector that can unlock multi-generational wealth, said Ryan Williams, Cadre’s Founder and Executive Chairman.
Accredited investors can begin investing in the Horizon Fund and other opportunities today. Broader access to the Horizon Fund is expected to be made available in 2023.
Cadre is a groundbreaking technology-driven commercial real estate investment platform that offers both institutional and individual investors the opportunity to invest in expertly diligenced real estate assets with lower minimums, low fees, and unprecedented potential for liquidity. Via its data-driven and transparent approach, Cadre opens participation in a historically opaque and illiquid asset class.
Along with its traditional investment offerings, Cadre also provides investors with the ability to seek liquidity through its proprietary secondary market, a unique offering within the industry.
Since Cadre’s founding, Cadre has closed more than $5 billion in real estate transactions across 25 U.S. markets. Cadre has exited thirteen investments with a ~28% realized net IRR and in total has returned approximately $462 million of capital to Cadre investors to date.
REAL ESTATE ADVICE
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.