NAHRO CEO Adrianne Todman Issues Statement on CDC Eviction Moratorium

prnewswire | September 04, 2020

Today, a new federal eviction moratorium takes effect. Unlike the previous moratorium, it seeks to protect renters in private and publicly funded units. And it will, for now. It also makes a powerful statement about the inextricable link between housing and health, a link that should inform future decisions about housing investments. But let's be clear. This is no better than a car without wheels or a face-mask made of fishnet. At the end of the day, we are not moving forward and renters are not protected. Congress and the White House need to stop playing games and work together to approve rental assistance to help families, landlords, and, quite frankly, the entire rental market.

Spotlight

Find out about the four stages in the corporate sustainability journey and discover practical guidelines for CRE teams to support the overall sustainability objectives of the business. Companies actively seeking to improve sustainability and performance need to ensure their corporate real estate (CRE) team is aligned with, and able to deliver, their priority sustainability objectives.

Spotlight

Find out about the four stages in the corporate sustainability journey and discover practical guidelines for CRE teams to support the overall sustainability objectives of the business. Companies actively seeking to improve sustainability and performance need to ensure their corporate real estate (CRE) team is aligned with, and able to deliver, their priority sustainability objectives.

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REAL ESTATE TECHNOLOGY

Staley Point Capital and Bain Capital Real Estate Purchased Orange County Industrial Property for $21 Million

Staley Point Capital | May 05, 2021

Staley Point Capital ("Staley Point"), a value-add investor focusing on commercial assets in Southern California, and Bain Capital Real Estate, Bain Capital's real estate investing division, announced today the off-market purchase of a 100,000 square-foot industrial property in Brea, California, for approximately $21 million. "Given the supply barriers to entry and the solid demographics, we hope that this is only the first of many transactions in Orange County," said Eric Staley, Managing Director of Staley Point. "By providing closing assurance on a short timeline, we were able to differentiate ourselves as a buyer." The property is located at 331 Cliffwood in North Orange County, with easy access to the rest of the county via the 57 freeway. The asset has a clear height of 22 feet, four dock-high positions, and is completely leased for five years. This is the fourth sale done by Staley Point and Bain Capital Real Estate. It comes on the back of the newly announced acquisition of a 58,000 square-foot industrial property in Santa Fe Springs, as well as the purchasing of Freeway Point, an 83,000 square-foot industrial property, and a land site in the San Fernando Valley. "This investment represents both our partnership's continued success and our emphasis on investing locally in industrial properties with solid underlying growth fundamentals," said Andrew Terris, Managing Director at Bain Capital Real Estate. "We established North County as an appealing and high-performing submarket, and we look forward to capitalizing on additional prospects in the area that fit with our thematic and value-added investment strategy." Staley Point Capital and Bain Capital Real Estate have formed a joint venture to reposition and redevelop existing infill industrial sites near dense urban centers, mainly in Southern California. Staley Point Capital's legal counsel on the deal was Greenberg Traurig, LLP. Pacific Partners advised both the buyer and the seller, while JLL Capital Markets will handle the loan financing. About Staley Point Capital Staley Point Capital is a real estate investment company headquartered in Los Angeles. Kevin Staley founded the firm in 2019 to acquire value-add and opportunistic real estate investments, mainly in the industrial sector. Notable Southern California assets have included The Citadel in Commerce, Magellan Gateway in El Monte, and Magellan Storage, a self-storage portfolio. About Bain Capital Real Estate Bain Capital Real Estate was established in 2018 and invests in often difficult-to-access markets that are supported by long-term structural developments that fuel long-term demand growth for real estate assets and services. Since 2010 (previously as a member of Harvard Management Company), the Bain Capital Real Estate team has been executing its plan, investing over $4.5 billion in over 440 assets across various industries. Bain Capital Real Estate focuses on small to mid-sized assets, where the team leverages its extensive market knowledge to accelerate impact and drive operational improvements. Bain Capital Real Estate's strategy is consistent with the value-added investing model pioneered by Bain Capital, and it leverages the firm's global platform and vast expertise across asset classes to further strengthen its knowledge and sourcing capabilities.

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MARKET OUTLOOK

Majid Al Futtaim Properties Selects Newgen for Automating Enterprise-wide Document and Records

Newgen Software | September 20, 2021

Newgen Software, a global provider of digital transformation platform, is pleased to announce that the Dubai-based Majid Al Futtaim Properties has selected Newgen to digitize its records and documents, as part of its enterprise-wide strategic digital transformation initiative. Majid Al Futtaim Properties will use Newgen's document management system (DMS)—part of the contextual content services platform to manage business-critical records while maintaining security and ensuring regulatory compliance. Newgen will help them build a central repository for enabling remote, secure, and easy access to content. This will ensure end-to-end management of enterprise content from creation to disposal, thereby optimizing workforce collaboration and productivity. With Newgen, Majid Al Futtaim Properties can bridge information silos and facilitate anytime-anywhere access to documents and records. We look forward to supporting their current and future digital transformation initiatives. - Vivek Bhatnagar, VP EMEA, Newgen Software. Newgen's DMS built on a low code digital transformation platform—enables end-to-end management of both physical and electronic records, while retaining integrity and authenticity. The software manages the complete record lifecycle, from creation, usage, storage, and maintenance to preservation all in line with the organization's policies. About Newgen Software Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities. Globally, successful enterprises rely on Newgen's industry-recognized low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding to service requests, lending to underwriting, and for many more use cases across industries.

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REAL ESTATE INVESTMENT

Capital Square 1031 Acquires Recently Constructed Multifamily Community Near Kansas City for DST Offering

Capital Square | January 21, 2022

Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced today the acquisition of a Class A, 237-unit multifamily community in Olathe, a city within the Kansas City metropolitan area. The community was acquired on behalf of CS1031 Villas at Ridgeview Falls Apartments, DST. Villas at Ridgeview Falls is the next in the line of highly-amenitized, newly constructed, Class A apartment communities acquired by Capital Square for the 1031/DST program, Capital Square was drawn to the location of this property – Olathe, the seat of Johnson County, 20 miles southwest of Kansas City, where the economy is strong, with 4.4% job growth and a 3.5% unemployment rate as of September 2021.1 The property should provide investors with stable income during the holding period and exceptional appreciation potential." Louis Rogers founder and chief executive officer of Capital Square. Located at 11835 S. Fellows St., the community is located in the southwest corner of the Kansas City, MO-KS Metropolitan Statistical Area. The property's location near major highways and interstates provides residents with convenient access to Kansas City employment centers. Additionally, Villas at Ridgeview Falls is located within walking distance of many convenience and grocery stores, as well as dining options. Completed in 2020, the community offers spacious one- and two-bedroom units with top-of-the-line finishes and an average square footage of 1,046 square feet. Amenities at the community include a resort-style saltwater pool, an in-pool tanning deck, a poolside television and lounge, poolside pergola, lounge area with a fireplace, rooftop retreat, golf green, yoga area, walking trail with outdoor fitness equipment and 24-hour fitness center with a yoga studio. Additional amenities include an indoor mail room, a media room, gourmet coffee and tea bar, cybercafé, social lounge, guest suite, garages and carports as well as a pet spa. CS1031 Villas at Ridgeview Falls Apartments, DST seeks to raise $35.2 million in equity from accredited investors and has a minimum investment requirement of $50,000. The proximity to grocery stores and dining options, as well as Kansas City employment centers, coupled with its top-of-the-line features, make this community an ideal investment property for our growing portfolio of multifamily properties, The submarket has ideal fundamentals that match exceptionally well with Capital Square's multifamily acquisition criteria. For example, the population within a five-mile radius of the property is projected to increase 4.4% in five years and the average annual rent growth in the submarket is projected to grow 3.78% from 2021 to 2026." Whitson Huffman, chief strategy and investment officer. Capital Square acquired the property from J.A. Murphy Group, which was represented by Colliers' Will Mathews. It's an honor to represent our friends and clients at J.A. Murphy Group on a landmark sale in fast-growing Olathe, Kansas, Congratulations and many thanks to the buyer, Capital Square, on their continued success and dedication to a seamless year-end close!" Mathews. Since its founding in 2012, Capital Square has acquired 146 real estate assets for over 3,800 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable cash flow and capital appreciation. About Capital Square Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges and qualified opportunity zone funds for tax deferral and exclusion. Since 2012, Capital Square has completed more than $4.2 billion in transaction volume. Capital Square's executive team has decades of experience in real estate investments. Its founder, Louis Rogers, has structured hundreds of investment offerings totaling in excess of $5 billion. Capital Square's related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high net worth investors, private equity firms, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for five consecutive years. Additionally, in 2021, the company was ranked 101st on the list of Inc. 5000 Washington D.C. Metro's Fastest-Growing Private Companies. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense's list of fastest growing companies. Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" report in 2019 and 2021 as well as on their "Fantastic 50" reports in 2019 and 2020.

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