Cherre and Fortimize | August 12, 2022
Cherre, the industry’s leading real estate data management and analytics platform, and Fortimize, a Salesforce partner since 2012, have entered into a strategic alliance to help real estate firms make faster and more accurate decisions within Salesforce.
The alliance combines an industry-leading real estate data management platform with an industry-first consulting approach on the world’s #1 CRM and customer engagement ecosystem, to increase deals in the pipeline and improve the accuracy of underwriting for acquisitions and dispositions. Together – and along with the expertise and advisement of Jonathan Fishman of Bizydev – the new partnership brings multiple decades of experience in the real estate and proptech sectors, to bring new and innovative solutions to the market.
“Real estate investors and operators are demanding more data-driven insights for decision making. The Cherre and Fortimize alliance provides the real estate industry with expertise and a turnkey solution for users to get the data they want into a tool of their choice,”
- Grant Wood, Cherre Vice President of Strategic Solutions
Fawn Perazzo, Fortimize Real Estate Practice Lead added, This partnership amplifies the power of Salesforce for real estate companies. By connecting a mutual customer’s disparate real estate data, Cherre’s platform enables us to seamlessly integrate property data into Salesforce, creating a single source of truth around a team's deal pipeline. Firms can customize the Salesforce platform to meet their team’s needs, which many pointed solutions lack. In this highly competitive landscape, this means dealmakers are better enabled to focus on building relationships and closing deals, instead of wasting time swiveling between disparate systems.
With the launch of this partnership, Cherre and Fortimize will arm real estate organizations and teams with key data points to help reduce space downtime, maximize rental terms and improve revenue forecasting for leasing use cases, all from within their CRM.
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.
Fortimize, a financial services and real estate consulting firm, partners with clients to design, build, automate and enhance digital experiences for their customers and employees leveraging the Salesforce platform and other leading technologies. Fortimize has been a Salesforce partner since 2012.
Bizydev is a business development firm based in New York City that specializes in working with technology, product and service companies across industries such as PropTech, business intelligence, analytics, and other verticals to help accelerate growth. Bizydev creates value for the groups it works with by generating unique opportunities around customers, partners, and capital.
REAL ESTATE INVESTMENT
Arc Home LLC | August 24, 2022
Tavant, a Silicon Valley-based provider of industry-leading digital lending solutions, today announced that Arc Home LLC (Arc Home), a full-service residential lender and servicer, operating in the wholesale, correspondent, and retail origination channels, has chosen Tavant to accelerate their digital transformation strategy. A national lender and leader providing a full array of mortgage solutions, Arc Home places customer experience as its priority, and part of that experience is dependent on efficient processes.
Brokers and correspondent lenders demand and deserve an excellent service experience and need partners that offer a complete array of loan products to satisfy the needs of the full spectrum of borrowers they serve. Arc Home plans to expand its lending business using FinXperience, Tavant's intuitive platform of point-of-sale experiences. FinXperience, a VELOX product, implementable across all lending channels, including retail, wholesale, and correspondent, will empower Arc Home's customers with seamless digital lending experiences and the tools they need to be self-sufficient.
"Given Tavant’s depth of features, speed to market, and deep mortgage industry experience, Arc Home found Tavant’s VELOX solution to be the superior option. Enhancing the Arc Home Portal further supports our commitment to growing market share in our broker and correspondent channels, Tavant stood out because of FinXperience Broker's track record in assisting mortgage lenders to succeed in the Third-Party Origination space. With Tavant, we aim to continue Arc Home's tradition of providing innovative financial products in the residential lending market with superior customer service.”
-Katherine Gardner, Chief Production Officer of Arc Home
Unlike others, Arc Home has a unique position of having a wide array of proprietary Non-QM and Non-Agency products. The Arc Access Non-QM line of products allows Arc Home to better and more responsibly serve customers' needs by filling a market void where borrowers cannot obtain traditional agency loans.
Tavant is assisting Arc Home LLC with FinXperience, a component of the VELOX suite, which will provide a seamless digital lending process with improved loan fulfillment efficiencies to its growing network of brokers, Our goal has been to help our clients create value for their customers and partners (and Third-Party Originators) and implement growth strategies. In the current market situation, we are helping ARC Home provide non-QM loan products to the market through their Third-Party Originators, which streamlines application intake and submission, digitizes the loan file that optimizes loan fulfillment, and eventually helps ARC Home improve conversion, cut down on cycle times, and improve on their loan margins. VELOX delivers best-in-class lender and borrower experiences, and Tavant will continue to accelerate loan manufacturing and improve loan quality for mortgage lenders like Arc Home,said Hassan Rashid, Chief Revenue Officer at Tavant.
In addition to FinXperience Broker, Tavant will also launch FinXperience Correspondent, both Delegated and Non-Delegated, at Arc Home.
As a leading Fintech software and solutions provider for more than 20 years, Tavant proactively anticipates customer needs and adjusts accordingly to provide the right configurable solutions. Arc Home LLC joins Tavant's growing customer base, which originates one out of every three loans in the United States. Tavant's VELOX product suite, which now includes Touchless LendingTM, maximizes data-driven decision-making to solve even the most complex lender and borrower challenges.
Headquartered in Santa Clara, Calif., Tavant is a digital products and solutions company that provides impactful results to its customers across North America, Europe, and Asia-Pacific. Founded in 2000, the company employs over 3000 people and is a recognized top employer. Tavant is creating an AI-powered intelligent lending enterprise by reimagining customer experiences, driving operational efficiencies, and improving collaboration.
About Arc Home LLC
Arc Home is a full-service lender and servicer whose mission is to provide customers with a comprehensive array of mortgage solutions with an emphasis on specialty products. Placing customer service and satisfaction as the number one priority, Arc Home provides a top-tier staff of knowledgeable and friendly team members who excel at providing efficient, successful loan services with competitive pricing.
REAL ESTATE TECHNOLOGY
Ready Capital | July 14, 2022
Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced Starz Real Estate (Starz), a pan-European commercial real estate lending platform has formed a new joint venture with Ready Capital Corporation (NYSE: RC), a commercial mortgage REIT headquartered in New York, to originate circa €300m of new commercial real estate loans over the next two years.
The new joint venture will focus on deploying commercial real estate bridge and term loans between €10m and €40m in size across the UK, Benelux, Dach Region, Italy and Portugal with up to 75% LTV across sectors including office, residential, mixed use, student housing, logistics, self-storage, and selective retail and hotel opportunities. The joint venture can also offer construction lending in the above mentioned continental European locations.
The deal reflects further institutional confidence in Starz, following backing from a Middle East Sovereign Wealth Fund at the end of last year to originate €900m of loans with the latest transaction in that fund comprising a €68.5m senior facility to Union Street Investments for a multi-office investment platform in the Netherlands.
"This partnership with Ready Capital will significantly expand our capability to service the increasing demand for agile, mid-market capital across the UK and Europe, bolstering our existing lending strategy."
David Arzi, CEO of Starz
"We are working in a challenging yet exciting landscape in the wake of the pandemic, with new opportunities as assets change hands or need repurposing to suit new demands. We are pleased to have an institutional investor of this calibre backing us, with our streamlined underwriting processes ensuring we can take capital to market in an efficient and decisive manner."
"This new JV partnership with Starz follows through on our commitment to expand Ready Capital's commercial real estate lending business internationally," said Thomas Capasse, CEO of Ready Capital. "With a history of sourcing high quality loans from strong sponsors, the team at Starz has an investment philosophy that aligns well with the credit foundation of Ready Capital's lending strategies, plus they share our hands-on approach to loan servicing and asset management." Ready Capital is externally managed by Waterfall Asset Management, LLC.
Launched in July 2018, Starz is a commercial real estate lender focused on middle-market loans throughout Europe. With a balance sheet built for the long haul, Starz is a flexible and reliable source of capital for real estate investors. Starz provides collaborative lending solutions coupled with streamlined underwriting processes that ensures seamless service. https://starzrealestate.com/
About Ready Capital
Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including multifamily agency, stabilized and bridge financing, as well as government guaranteed business loans. Ready Capital and its affiliates also provide alternative lending, construction lending, and low-income housing finance as well as residential mortgages. Headquartered in New York, Ready Capital employs more than 600 lending professionals nationwide. The company is externally managed by Waterfall Asset Management, LLC.