REAL ESTATE TECHNOLOGY
prnewswire | February 11, 2021
Koch Real Estate Investments, an associate of Koch Industries, Inc. today reported the obtaining of a to-be-finished Las Vegas resort situated at 2777 South Las Vegas Boulevard. The arrangement is in association with Fontainebleau Development.
Koch and its accomplished accomplices give the interesting capacity to consolidate persistent, long haul capital with top tier tasks. Together, the organizations have a shared interest in the recuperation and development of Las Vegas and the friendliness business overall. With Las Vegas' travel industry recuperation in progress, the city has securely returned to a large number of guests since June with significantly more accomplishment not too far off.
"We believe strongly in the Las Vegas market and see the property as a great opportunity to contribute to the long-term success and positive trajectory of this vibrant and innovative region," says Jake Francis, President of Koch Real Estate Investments. "We are excited about the partnership and look forward to working together as the project evolves."
REAL ESTATE INVESTMENT
33 Holdings, LLC | August 13, 2021
33 Holdings LLC announced the signing today of a merger agreement to acquire interest in Beers Housing Inc., a General Contractor and a leading service provider in mortgage field services, maintenance, rehab, construction and development in the southeast US. The M&A is expected to strengthen 33 Holding's vertically integrated real estate platform executing value-add and opportunistic real estate projects.
"Joining 33 Holdings LLC is an incremental progression in our quest to build a world class mortgage field services and construction service business," commented Chad Beers, Founder & Chief Executive Officer of Beers Housing Inc. "As part of 33 Holdings LLC, we will be able to serve 33's existing portfolio as well as attract new industry-wide clients. This is truly an exciting relationship for our customers, vendors and employees and will help position our business for strong growth in the future," he stated.
"This investment in Beers Housing Inc., presents a great opportunity for 33 Holdings LLC to add a leading mortgage field services & construction services business to our platform," stated Sanjay Raghavaraju, Founder & Chief Executive Officer of 33 Holdings LLC.
"With this merger, it will create a fully functional private equity real estate company that will create higher returns and faster delivery of real estate projects to our clients," stated Corey Oldknow, Broker & Chief Acquisitions Officer of 33 Holdings LLC.
Under the terms of the agreement, Beers Housing Inc., will operate under the Beers Construction Partners (BCP) name and under the current leadership. In addition, Heather Beers, Managing Partner of Beers Housing Inc., will take on the role of Chief Operating Officer (COO) at 33 Holdings LLC & Beers Housing Inc., helping with the integration of the two companies while ensuring value to Investors and Clients over the next few months. Both Chad Beers & Heather Beers will join Corey Oldknow & Sanjay Raghavaraju as Principals of 33 Holdings LLC.
"Beers Housing Inc., is excited to join the 33 group of companies," said Heather Beers, Managing Partner of Beers Housing Inc. "Our respective cultures, goals and investment philosophies are very much aligned. Beers Construction Partners (BCP) will remain a leading Mortgage Field Services & Construction Services firm, now benefiting from the support of 33's significant financial and operational resources. The partnership with 33 ensures that BCP's principals will remain majority-owners of the firm. With this integration, we see a growth opportunity given the seismic shifts in the real estate market, which our partners and staff will thrive, enabling us to better serve our investors and impact the communities we operate in."
About 33 Holdings LLC (33)
33 Holdings LLC specializes in real estate investment, acquisition, development, construction and asset management across the Southeast US with a concentration on primary and secondary markets. Sanjay Raghavaraju founded 33 Holdings LLC on the premise that investment in real estate should be driven by sound market fundamentals, a flexible time horizon and strong alignment of interest between investors and managers. 33 Holdings has a strong track record of driving investment results. 33 Holdings differentiates itself by providing hands-on real estate investment management, creative deal structuring, and transparent communication with investors.
About Beers Construction Partners (BCP),
Beers Construction Partners specializes in maintaining and adding value to bank and investor assets throughout the Southeast by using a hands-on approach with a hybrid employee/subcontractor base model. Chad Beers, founded Beers Housing in 2007 with a strong focus on the mortgage field service space as well as fix and flip and has been able to adapt to various services lines with the strong leadership and client relationships brought in by Heather Beers to not only meet but exceed the industry and economical needs in the housing market. Beers Housing now has multiple service lines to include mortgage field services, maintenance, rehab, ground up construction and development.
REAL ESTATE TECHNOLOGY
OrbVest | May 22, 2021
OrbVest, a global real estate company that invests in US income-producing medical commercial real estate recently closed its purchase of Talavi Spectrum, a 75,636-square-foot office property located in Glendale, Arizona for $13,000,000.
“We are actively checking out medical office buildings in Arizona to enrich our current portfolio, and therefore the Talavi building provides us with an ideal opportunity to re-establish the building as a prestigious medical office. We were particularly interested in the high-quality construction, business park location, and therefore the strong demographic trends we are seeing within the Northwest Valley,” said Martin Freeman, OrbVest CEO.
Talavi Spectrum is found at 5701 West Talavi Boulevard in Phoenix, Arizona during a strong market with limited future development opportunities. it's a two-story, 74,662-square-foot, multi-tenant office block that was 88% occupied at the time of sale. Originally developed in 2002 by The OPUS Group on 5.73 acres, the category A property features high-quality construction, functional floor plates, interior improvements, and a singular campus-style setting within the 67-acre Talavi Business Park.
Talavi Spectrum is well-positioned south of Bell Road – one among the foremost popular roadways in Phoenix. Talavi Spectrum is conveniently located but two miles from the Loop 101 Freeway and is adjacent to retail properties like Talavi Towne Centre (anchored by a Walmart Supercenter), Sprouts Center, and Glendale market square.
Talavi Spectrum is OrbVest’s second acquisition within the greater Phoenix metropolitan area. Earlier in Q1, OrbVest closed on 555 North 18th Street, a 49,751-square-foot, multi-tenant class A medical office block. “OrbVest’s expansion into Arizona is driven by the basics that underpin value growth, most notably Phoenix is already the fifth-largest city within us and growing rapidly. Population migration and business expansion buoyed by low population density and lower cost of living position Phoenix for long-term, post-pandemic growth,” says Freeman.
Talavi Spectrum is OrbVest’s fourth acquisition since the beginning of 2021, securing its third property in Princeton, New Jersey, a medical and office block comprising 40,028 square feet of rentable space; a 76,771-square-foot medical office block in Fleming Island, Florida; and an 11,852-square-foot Great Expressions Dental Centers office situated on 1.15 acres in Fayetteville, Georgia.
OrbVest is actively seeking additional medical office block investments across the U.S in an attempt to scale back concentration risk and supply enhanced diversification for its investors.
OrbVest is a global real estate company that invests in the U.S income-producing medical commercial real estate. Within seven years, OrbVest has achieved a portfolio of over a million square feet representing >$300m real estate under management (REUM) with a 65% reinvestment rate.
OrbVest’s goal is to form investing in global land simple for little and enormous investors who are ready to invest from as little as $5,000. Clients use a convenient online platform to take a position directly into low-risk commercial assets, primarily within the Healthcare niche. The investments generate regular dividends (±8% per annum) that are distributed every quarter creating annuity income and long-term wealth over the amount of investment. (Targeted IRR of 11% to 17%).