MARKET OUTLOOK, REAL ESTATE INVESTMENT
Wedgewood LLC | February 13, 2023
Wedgewood Homes, a creative solutions provider for real estate with a key focus on revitalizing communities across the US by buying and selling single-family homes, has been awarded Greater Los Angeles' Best Real Estate Solutions Provider in BUILD Magazine's 2022 Real Estate and Property Awards.
Since its start in 1985, Wedgewood has been working to find real estate solutions by purchasing single-family homes, renovating them, and selling them to potential buyers. This gives people a chance to own their own homes. Wedgewood is able to stay ahead of the competition by figuring out what customers want and what the market will do next. Additionally, the company prioritizes implementing strategies to remain adaptable and profitable during fluctuating market cycles.
Wedgewood Homes is active in more than 20 states and buys thousands of homes annually. It is a leader in reviving and reusing homes across the country. Wedgewood Homes spent hundreds of millions of dollars in 2022 to update, fix, renovate, and reimagine real estate in a good way for the environment.
Jamie Bedner, Chief Operating Officer of Wedgewood, said, "We're thrilled that Wedgewood Homes has been named 'Best Real Estate Solutions Provider — Greater LA' by BUILD Magazine." She said, "At Wedgewood Homes, we are committed to providing solutions and advancing the real estate industry. This award acknowledges our talented and dedicated LA team and validates our core values."
(Source: Cision PR Newswire)
About Wedgewood
Founded in 1985, Wedgewood is an award-winning real estate group based in Redondo Beach, California, which operates in 21 states and 800+ cities across the US. Wedgewood Homes' acquisition, renovation, and resale model use local vendors and services, real estate professionals, and nearly forty years of experience to revitalize neighborhoods one home at a time. The company started with a simple idea, to leave every house in better shape than when they found it. This, along with their creative approach, has made Wedgewood Homes the leader in their field. Its goal to improve one house at a time has caught on in communities throughout the United States.
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REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Choice Properties Real Estate Investment Trust | February 17, 2023
On February 16, 2023, Choice Properties Real Estate Investment Trust announced it has agreed to issue a $550 million total principal amount of series S senior unsecured debentures on a private placement basis in certain provinces of Canada. The senior unsecured debentures will bear interest at a rate of 5.400% per annum, and its maturity will be on March 1, 2033.
A syndicate of agents co-led by BMO Capital Markets, TD Securities, CIBC Capital Markets, RBC Capital Markets, and Scotiabank is offering the Debentures on an agency basis. The Offering is predicted to close on March 1, 2023, subject to customary closing conditions.
The Investment Trust plans to use the net proceeds from the Offering to pay off its outstanding $250 million total principal amount of 3.196% series G senior unsecured debentures due on March 7, 2023, to repay all or part of the remaining amount drawn on the Trust's credit facility, and for other general business purposes.
For the Offering to close, DBRS Limited must rate the Debentures as at least "BBB" (high) with a "stable" On February 16, 2023, Choice Properties Real Estate Investment Trust announced it has agreed to issue a $550 million total principal amount of series S senior unsecured debentures on a private placement basis in certain provinces of Canada. The senior unsecured debentures will bear interest at a rate of 5.400% per annum, and its maturity will be on March 1, 2023.
A syndicate of agents co-led by BMO Capital Markets, TD Securities, CIBC Capital Markets, RBC Capital Markets, and Scotiabank is offering the Debentures on an agency basis. The Offering is predicted to close on March 1, 2023, subject to customary closing conditions.
The Investment Trust plans to use the net proceeds from the Offering to pay off its outstanding $250 million total principal amount of 3.196% series G senior unsecured debentures due on March 7, 2023, to repay all or part of the remaining amount drawn on the Trust's credit facility, and for other general business purposes.
For the Offering to close, DBRS Limited must rate the Debentures as at least "BBB" (high) with a "stable" trend, and Standard and Poor's Ratings Services must rate them as at least "BBB." The Debentures will rank equally with the Trust's other unsecured indebtedness that has not been subordinated.
As amended, the Debentures made available are not registered under the U.S. Securities Act of 1933, and they cannot be offered or sold in the U.S. without registration or an exemption from the registration requirements.
About Choice Properties Real Estate Investment Trust
One of the leading Real Estate Investment Trust, Choice Properties creates enduring value through the operation, ownership and development of high-quality commercial and residential properties. The company believes that creating spaces that improve how our tenants and communities live, work, and connect adds value. Therefore, it strives to understand our tenants' needs and manage our properties to the highest possible standard. It is a Toronto, Ontario-based company that aims to build sustainable communities that are economically, socially, and environmentally sound. Its core values are care, ownership, respect, and excellence, and they inform all that Choice Properties do.
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REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
MAXX Properties | March 02, 2023
On March 01, 2023, a leading real estate organization, MAXX Properties, plans to implement software to manage all post-resident accounts receivable by Pay Ready, a multifamily premier post-resident payment system.
Chief Operating Officer of MAXX Properties, Genevieve Bauer, joined the organization last August and focused on maximizing the cash flow and value. With more than 9,300 units and a growing inventory, Gen was aware that technology was the key to maximizing yield. With her years of expertise in strategic property management operations, she thought back to the times she had worked with Pay Ready as a supplier.
Pay Ready's platform redefines the post-resident recovery process of MAXX Properties. The platform integrates with the property management software and controls the move-out process. Its automated messaging is augmented with human interactions and follow-up. Within the CRM, the onsite teams now have a centralized repository for their notes, which can be tracked and reported in real-time. With this platform, the owners and operators can have a robust solution and customized and empathetic brand communication for residents from the start, along with a simplified payment process and final payment arrangements.
Chief Operating Officer at MAXX Properties, Genevieve Bauer, said, "Making the decision to switch to Pay Ready was simple. MAXX Properties needed to centralize its post resident recovery efforts and have true insight into the data. Pay Ready's platform provides advanced technology along with real-time data and key metrics to give our operations' team the ability to make informed data-driven decisions, moving our business forward while maximizing our post resident recovery receivables."
(Source – Business Wire)
About MAXX Properties
Based in Harrison, New York, MAXX Properties is a privately held company comprising commercial, multifamily, and cooperatives. It was established in 1936 under the fourth generation of Wiener family leadership. Its portfolio consists of 39 communities containing 9,351 owned multifamily units in six states, 992 sponsor units and 32 managed cooperative units in New York. In addition, the company offers a wide range of training and educational courses specifically designed to equip teammates with the skills needed to deliver exceptional service to residents.
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