REAL ESTATE TECHNOLOGY
Ascot Corp. | May 09, 2022
Ascot Corp. has formed the first private fund through a joint venture with global institutional investors to invest in MF residential, senior living facilities, and student housing in the Tokyo metropolitan area.
Main Investment Properties of the Fund
"ASTILE" is MF residential brand winning the Good Design Award twice last year, and "FARE" is the brand winning the Award seven times for the five consecutive years.
*The Good Design Award is the only comprehensive design evaluation and recommendation system in Japan that covers a wide range of fields from industrial products to business models and event activities.
Overview of the Fund and Strategy
The investment targets of the Fund are MF residential, senior living facilities, and student housing, and their locations are limited to the Tokyo metropolitan area where are expected to provide stable cash flows with little impact from the Covid-19 pandemic and high liquidity on exit, and consequently stable investment results. Furthermore, the investment risks can be identified within the limited scope and in a quantitative manner due to the predefined properties.
The portfolio of the Fund No. 1 comprises of 9 properties, mainly MF residential developed by Ascot (including ASTILE Harajuku, and ASTILE Nishi-Shinjuku II etc.). In the near future, Ascot plans to expand the scope of its fund in collaboration with global institutional investors by acquiring MF residential, senior living facilities, and student housings from external developers and funds, in addition to properties developed by Ascot. Ascot manages these properties as the asset manager of the Fund.
The Growth Strategy of Real Estate Fund Business Department
The Real Estate Fund Business Department, established in 2021, is a new business unit of Ascot that leverages the company's design and quality property development capabilities cultivated over the past 20 years since Ascot's founding in 1999, as well as its domestic and international network. As one of the key pillars of our mid-term growth strategy, we aim to further expand our business by forming joint venture funds with domestic and foreign investors and new private funds, as well as by entering the REIT and other businesses.
In addition to MF residential and offices, which are our strengths, we will target a wide range of asset classes, including logistics, hotels, senior housing, data centers, etc. Furthermore, we are considering entering some asset classes from the development stage.
The Fund Business Department will contribute to the growth of the real estate investment market by continuously providing optimal solutions and quality investment opportunities to a wide range of investors while expanding total assets under management.
Under the circumstances of limited investment opportunities under the low interest rate policy and globalization trend of investment, there has been a shift in allocations from traditional assets such as listed stocks and bonds to alternative investments, with real estate investment in particular gaining prominence worldwide over the past few years.
As the global asset allocation strategy, a certain percentage has been shifted to Asia, and, in comparison to other Asian countries, investment in Japanese real estate has been allocated to a significant degree in terms of core investment. The primary factor is that Japan's low interest rate policy has ensured a relatively large yield gap. Secondly, Japan, centered on Tokyo, has a considerable market size which provides high liquidity on exit. In addition, the infrastructure for investment, such as legal, accounting, and taxation is very stable. Therefore, stable returns are expected to be secured. Consequently, the investment needs and flow of funds from global investors, especially institutional investors, to Japanese real estate have continued even with the COVID-19 pandemic, and the recent depreciation of Japanese yen has also attracted investors' attention to Japanese real estate.
The asset classes receiving great attention are logistics and MF residential. Since Ascot has advantage in longstanding residential development business, the first fund focused on residential properties.
Comments by Takeshi Nakabayashi, President of Ping An Japan Investment Co, Ltd.
Ascot Corp. is the first real estate company in Japan invested by Ping An Group. We are fascinated by Ascot's excellent development track record backed by its ability to plan and deliver high value-added residential and office properties. We have high expectations for the growth of Ascot's new global business, including the real estate fund management business just launched, the development of logistics facilities, and integrated services from real estate brokerage to property management for global investors.
About Ascot Corp.
Ascot is a global comprehensive real estate service provider targeting Tokyo metropolitan area. The business includes the development of the MF residential and logistics, fund management, real estate brokerage for global investors, and property management leveraged by its design and high-quality property development capabilities as well as its domestic and international network. Its design and development capabilities cultivated over the past 20 years are highly recognized, as the track record of winning the Good Design Award 14 times in total shows. Through Digital Transformation, Ascot aims to provide quality real estate services in line with global standards by enhancing customer contact and creating new revenue models.
REAL ESTATE TECHNOLOGY
Coldwell Banker Realty | June 13, 2022
The Jills Zeder Group, a powerhouse team of Coldwell Banker Global Luxury Ambassadors with Coldwell Banker Realty, have once again been ranked as the No. 1 large team in the entire United States, as announced in the 2022 RealTrends "The Thousand" list published in The Wall Street Journal. Per RealTrends, a large team ranges from 11 to 20 members.
RealTrends ranked The Jills Zeder Group No. 1 on the list, based on achieving $2,250,764,707 in closed sales volume in 2021 and 367.60 closed transaction sides in 2021. Affiliated with Coldwell Banker Realty's offices in Miami Beach and Coral Gables, Florida, the sales team, which specializes in luxury real estate, including luxury estates, condominiums, waterfront properties, and highly complex assemblages, achieved more sales volume than any other small, medium or large team from any brokerage or company nationwide.
Year over year, The Jills Zeder Group not only sets the bar for the industry standard of excellence, but they surpass their own benchmark. The team's ingenuity, dedication to client service, extreme market intelligence and fierce business acumen has resulted in another outstanding recognition this year. It is a true privilege to have the opportunity to serve this top-performing, legendary team as part of Coldwell Banker."
Ryan Gorman, CEO of Coldwell Banker
"I'm honored to once again congratulate The Jills Zeder Group for their distinguished achievement earning the No. 1 spot on the prestigious RealTrends list, solidifying them as the very best real estate team in the country," said Duff Rubin, president of Coldwell Banker Realty in Florida. "This well-earned recognition reconfirms what we already know about the team, that they offer their clients incomparable professionalism and real estate knowledge, as well as a superior understanding of the complex and evolving market of South Florida."
The RealTrends "The Thousand" ranking consists of all real estate agents and teams throughout the United States who took part in residential real estate transactions in 2021. The individual rankings are divided into two top 250 categories, based on closed transaction sides and closed sales volume. To qualify, an individual agent had to close at least 50 transaction sides or $20 million in sales volume in 2021. For real estate teams, the minimum was 75 transaction sides or $30 million in closed sales volume.
About The Jills Zeder Group
The Jills Zeder Group, affiliated with Coldwell Banker Realty, is comprised of three families, all of whom are major players in the luxury residential real estate business. These families include Jill Hertzberg, Jill Eber and Felise Eber; and Hertzberg's children Danny Hertzberg and Hillary Hertzberg; and Judy Zeder and her children, Nathan Zeder and Kara Zeder Rosen. Prior to The Jills Zeder Group's formation in 2019, the families closed a combined total of more than $8 billion in real estate sales, including collaborating on multiple luxury sales in the Coral Gables market. With offices in Miami Beach and Coral Gables, The Jills Zeder Group specializes in high-end, multimillion-dollar luxury properties in South Florida's most elite enclaves, representing celebrities, Fortune 500 executives, and a diverse international clientele. They offer incomparable knowledge and services to luxury real estate clients.
About Coldwell Banker Realty
Coldwell Banker Realty in Florida is a leading residential real estate brokerage company with approximately 73 offices and 8,106 affiliated sales associates. Coldwell Banker Realty is owned by a subsidiary of Anywhere Real Estate Inc. (NYSE:HOUS), the largest full-service residential real estate services company in the United States. Visit ColdwellBankerHomes.com. Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo are service marks owned by Coldwell Banker Real Estate LLC.
REAL ESTATE INVESTMENT
Brown Gibbons Lang & Company | June 16, 2022
Brown Gibbons Lang & Company (BGL) is pleased to announce the financial closing of $160 million for the acquisition and development of Auburn 18 Business Park, a 129-acre industrial site in Auburn, Washington. BGL's Real Estate Advisors team served as financial advisor to Industrial Realty Group (IRG), with Oak Street, a Division of Blue Owl, as the capital partner to IRG.
IRG is a nationwide real estate development and investment firm specializing in the acquisition, development, and management of commercial and industrial real estate throughout the United States. IRG, through its affiliated partnerships and limited liability companies, operates a portfolio containing more than 150 properties in 31 states with over 100 million square feet of rentable space.
Oak Street is a real estate investment firm focused on investing in net-leased properties.
Oak Street seeks to form partnerships with best-in-class organizations and real estate developers by creating structures that facilitate our partners' strategic and financial initiatives. We are excited to form a long-term partnership with IRG, one of the leading industrial developers in the country."
Colleen Collins, Managing Director of Oak Street
Auburn 18 Business Park is comprised of approximately 129 acres of land located one mile southwest of the Commercial Business District of the City of Auburn. The property is currently improved with over one million square feet of space, including two large office buildings, seven large warehouse buildings, an operations and maintenance building, and several other small support buildings located throughout the property.
Originally purchased in 1944 by the United States Army as 435 acres of farmland, the site was improved with 20+ dry storage warehouses for use during World War II. In 1962, the U.S. General Services Administration (GSA) took ownership of a 177-acre portion, with multiple WWII warehouses, three 1950s-era warehouses, an administration office, and a water tower. The remaining U.S. Army property was sold to private developers. During the 1990s, GSA donated land to the City of Auburn for a park and the Auburn City School Bus Depot. An additional 8.4 acres was donated to the City of Auburn for its municipal fire training center.
The disposal of the Auburn complex is part of a larger strategy to evaluate underutilized assets and shrink the federal footprint. IRG acquired the Auburn Federal Complex through an online auction process. Renovations to the existing eight warehouse buildings have begun and include fire and life safety upgrades, lighting improvements, and adding additional loading docks, as needed.
With excellent frontage on C Street, this perfectly positioned site offers prime visibility and easy access to WA-18, WA-167, and I-5. The site is within two miles of the Auburn Municipal Airport and the BNSF Rail Yard, as well as various key supply chain, logistics, and manufacturing facilities, including UPS, Starbucks, Safeway, Behr, Gist USA, Boeing, Amazon, Costco, DHL, and REI.
BGL's Real Estate Advisors Group offers comprehensive real estate investment banking services tailored to the middle market. It provides client-focused solutions with an emphasis on real estate advisory, debt, preferred and private equity placement, financial restructuring, recapitalizations, sale-leasebacks, structured finance, and asset acquisitions and dispositions across all asset classes. The team assists real estate owners and developers looking to form alliances and joint ventures with single-source capital providers to gain local and institutional access for all capital needs.
About Blue Owl Capital Inc.
Blue Owl is a global alternative asset manager with $102.0 billion of assets under management as of March 31, 2022. Anchored by a strong permanent capital base, the firm deploys private capital across Direct Lending, GP Capital Solutions and Real Estate strategies on behalf of Institutional and Private Wealth clients. Blue Owl's flexible, consultative approach helps position the firm as a partner of choice for businesses seeking capital solutions to support their sustained growth. The firm's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. Blue Owl employs over 400 people across 10 offices globally.
IRG is a nationwide real estate development and investment firm specializing in the acquisition, development and management of commercial and industrial real estate throughout the United States. IRG, through its affiliated partnerships and limited liability companies, operates a portfolio containing over 150 properties in 31 states with over 100 million square feet of rentable space. IRG is nationally recognized as a leading force behind the adaptive reuse of commercial and industrial real estate, solving some of America's most difficult real estate challenges.
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company (BGL) is a leading independent investment bank and financial advisory firm focused on the global middle market. The firm advises private and public corporations and private equity groups on mergers and acquisitions, capital markets, financial restructurings, business valuations and opinions, and other strategic matters. BGL has investment banking offices in Chicago, Cleveland, and Philadelphia, and real estate offices in Chicago, Cleveland, and San Antonio. The firm is also a founding member of Global M&A Partners, enabling BGL to service clients in more than 30 countries around the world. Securities transactions are conducted through Brown, Gibbons, Lang & Company Securities, Inc., an affiliate of Brown Gibbons Lang & Company LLC and a registered broker-dealer and member of FINRA and SIPC.