REAL ESTATE TECHNOLOGY

NEXT Property Management Launches Mack Real Estate Group

businesswire | December 08, 2020

Mack Real Estate Group (MREG) declared the dispatch of NEXT Property Management, another outsider property the executives administration offering zeroed in on giving the greatest administration administrations to proprietors of multifamily and office properties cross country. NEXT is important for the Mack Property Management L.P. specialty unit (MPM), which gives property the executives administrations to MREG's developing arrangement of land ventures.

“With the launch of NEXT Property Management, we mark the latest step in the larger process of rebranding, reorganizing, and expanding property management services within the context of the overall MREG platform,” said Richard Mack, CEO of MREG. “We believe that our extensive experience with property ownership will be valuable to other owners who choose NEXT for management services, and we look forward to expanding the NEXT portfolio in the coming years.”

NEXT Property Management is focused on sending key arrangements related to new innovation for property the executives to offer open doors for more noteworthy proficiency and better help. "We are expecting coherence of present day advances and best practices across both the NEXT outsider administration portfolio and the MPM claimed portfolio, as we reliably endeavor to be the best," said Jennifer Willstead, President of MPM.

Jeff Cruz has been selected Vice President of Business Development for NEXT and will be accused of developing the pipeline of outsider administration business. "Jeff has driven a fruitful profession in multi-family traversing more than twenty years and numerous business sectors, and was a characteristic decision to lead our development plan for NEXT," Ms. Willstead added.

MPM (counting NEXT) is settled in Phoenix, AZ. NEXT and MPM depend on the skill of veteran colleagues and a solid comprehension of market essentials and industry patterns toward accomplishing the objectives of expanding resource execution, improving worth, and conveying strong monetary outcomes. They use arising advances and administration driven applications to convey imaginative arrangements, and utilize a set-up of help administrations to improve proficiency.

Mack Property Management was formerly known as Winthrop Property Management. The rebranding was announced September 1, 2020. In October, Mack Property Management officially relocated its head offices to Phoenix and hired Robert J. Matthews as Senior Vice President of Finance and Accounting.

“We believe that centralizing our operations in the Phoenix area enables us to enhance our services for the NEXT and MPM portfolios, and to strategically position us for further expansion in both coastal and mid-country markets,” said Ms. Willstead. “Our team is excited for this new start out of our Phoenix office, which we expect to be our launching pad for significant growth. In addition to this new command center, we will continue to have resources in multiple markets to help align with operational needs and ensure proper support during core business hours, regardless of time zone.”

Spotlight

In recent years, real estate firms have realized the benefits of technology adoption to streamline operational efficiencies and gain competitive advantage. But across commercial and multifamily real estate firms,asurprisinglylarge proportion are still using antiquated systems. A survey ofcommercial and multifamily real estate professionals found that 42 percent of real estate organizations use spreadsheets and/or paper in some critical business capacity. These findings are similar in larger organizations, as 34 percent of companies with more than 50 employees still use spreadsheets and 9 percent still use paper.

Spotlight

In recent years, real estate firms have realized the benefits of technology adoption to streamline operational efficiencies and gain competitive advantage. But across commercial and multifamily real estate firms,asurprisinglylarge proportion are still using antiquated systems. A survey ofcommercial and multifamily real estate professionals found that 42 percent of real estate organizations use spreadsheets and/or paper in some critical business capacity. These findings are similar in larger organizations, as 34 percent of companies with more than 50 employees still use spreadsheets and 9 percent still use paper.

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REAL ESTATE TECHNOLOGY

First Republic Center by Blox Ventures and Angelo Gordon Sell College Terrace at 2100 El Camino Real in Palo Alto

prnewswire | December 30, 2020

Blox Ventures, LLC, a Silicon Valley-based speculator and land administrator, and worldwide elective speculation firm Angelo Gordon reported today the offer of 2100 El Camino, College Terrace's First Republic Center in Palo Alto. The property is secured by First Republic's territorial office center and most as of late added Real Produce International Market, a claim to fame merchant, to its 11,000-square-foot retail space. The association attempted to guarantee long haul leases with its tenure for the future accomplishment of the property and the organizations. "Blox Ventures and our joint venture capital partner, Angelo Gordon, are pleased with the sale of this property which, under the stewardship of its new owner, a global investment company, will continue to thrive as a strong component of the neighborhood," said Blox Ventures CEO Jason Oberman. "It has always been our goal to thoughtfully improve this asset to best serve the community and ensure the buyer shares the same commitment." Blox Ventures and Angelo Gordon obtained the property in July 2018 after development was finished in 2017. Following the property procurement, the association finished the rent up, remembering the local center point for First Republic for Silicon Valley, whose workplaces – situated over the retail space – involve 76% of the structure. The organization likewise rented the property to neighborhood organizations, including a boutique food merchant and music gathering. The First Republic Center is set up now as one of only a handful few properties in Palo Alto's retail center that possess a full city block, profits by its closeness to the zone's key development habitats, is nearby Stanford University, and not exactly 50% of a mile to a Caltrain rail station. The 2100 El Camino property is one of four late properties in which Blox has put resources into the prime business sectors of Palo Alto and Sand Hill Road. About Blox Ventures Blox Ventures, based in Silicon Valley, is a privately owned real estate investment firm focused on buying, renovating, and operating commercial properties. Blox Ventures' principals have acquired and disposed of over 6 million square feet of real estate valued at over $3 billion. Blox Ventures has worked with the area's leading technology companies on their innovation spaces and campuses. About Angelo Gordon Angelo, Gordon & Co., L.P. ("Angelo Gordon") is a privately held limited partnership founded in November 1988. The firm currently manages approximately $41 billion with a primary focus on credit and real estate strategies. Angelo Gordon has over 500 employees, including more than 200 investment professionals, and is headquartered in New York, with associated offices elsewhere in the U.S., Europe, and Asia.

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REAL ESTATE TECHNOLOGY

AllianceBernstein Announces First Closing of New Commercial Real Estate Debt Fund in the United States

AllianceBernstein | March 11, 2021

AllianceBernstein L.P. ("Stomach muscle") (NYSE: AB), has effectively finished the principal shutting of its fourth US Commercial Real Estate Debt reserve ("CRED IV"). This elective asset has so far got almost $900mm in capital responsibilities. Fair will fill in as a lead financial backer, proceeding with the solid association among AB and Equitable as AB grows its options stage. CRED IV is a continuation of the temporary land loaning methodology effectively carried out by past AB CRED reserves. CRED IV will straightforwardly start gliding rate first home loan entire credits got by top notch, momentary US business land. Those credits are hung on an unleveraged premise. The foundation of CRED reserves has begun more than 100 advances and brought almost $7bn up in capital responsibilities from institutional financial backers worldwide since the dispatch of the technique in 2013. The fruitful first close of CRED IV is further exhibition of AB's capacity to raise huge capital for its quickly developing private choices stage, in spite of the difficulties presented by COVID-19. The nearby follows rapidly on AB's declaration in Q4 of a year ago of the dispatch of its new European Commercial Real Estate Debt ("ECRED") stage. ECRED, drove by industry veteran Clark Coffee, dispatched with almost €1.5bn in capital, making it one of the biggest land dispatches in Europe as of late. The ECRED stage hopes to declare its first credit beginning since joining AB in the coming weeks.

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Real Estate Developer Passes Square Footage Milestone

prnewswire | October 05, 2020

Through a series of recent developments and acquisitions, Welcome Group, LLC, now has more than 5 million square feet of industrial space within the company's commercial real estate portfolio in Texas. The Houston, Texas-based real estate owner and developer's extensive growth aligns with the company's expansion goals. Welcome Group's robust portfolio consists of single-tenant commercial, distribution, lab, and manufacturing properties. The company is actively seeking more development, purchase and sale-leaseback opportunities to achieve the next goal of owning over 6 million square feet of industrial real estate space by the end of 2021.

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