REAL ESTATE INVESTMENT
Tempus Realty | June 18, 2022
Tempus Realty Partners, an Arkansas-based real estate investment partnership, announced the purchase of an industrial portfolio totaling 15 properties across eight states in some of the most competitive markets in the U.S. Total purchase price was $39.2 million.
The 458,297-square-foot portfolio includes 15 facilities located in Alabama, Michigan, Arizona, Georgia, Nevada, Ohio, South Carolina and Texas. Each facility in the transaction is fully occupied by W.W. Williams, an industrial distribution repair and service company.
We're really excited to have a collection of industrial properties in great locations with the opportunity for our team to add value over time. Additionally, we're pleased to offer our partners this opportunity to invest in a collection of high- quality properties occupied by a well-respected tenant."
Dan Andrews, Tempus Realty Partners CEO
W.W. Williams, founded in Columbus, Ohio, is one of the largest and most diversified industrial distribution repair and service companies in the United States. The company will remain a long-term tenant across each of the 15 facilities purchased by Tempus.
About Tempus Realty Partners
Tempus Realty Partners is an Arkansas-based real estate investment partnership focused on acquiring and developing commercial real estate mainly in the South and Midwest. The strategy of Tempus is to create superior risk adjusted returns via unique commercial real estate opportunities by investing with its network of partners in targeted cities. The General Partners of Tempus include Dan Andrews, Kevin Huchingson, Mark Saviers and Isaac Smith.
REAL ESTATE TECHNOLOGY
Yardi | September 01, 2021
Yardi announced today the launch of REACH by RentCafe®, a comprehensive digital marketing agency for multifamily property management. The agency helps clients reach more renters, improve marketing success and reduce unproductive spend through expert creative, search marketing and strategy analysis.
REACH offers corporate and property website development as well as custom design assets ranging from logos to email templates. Search marketing services include SEO, PPC, social media management and reputation management. Marketing analytics provide instant campaign and website performance data.
"At REACH, marketing performance is our passion. From creating winning websites to delivering an unmissable search strategy, our digital marketing agency helps brands achieve their marketing potential," said Esther Bonardi, vice president of marketing and REACH at Yardi.
Several of these offerings were previously available to clients using RENTCafé Reach for search marketing. In response to the success of that program and ongoing demand, Yardi made the decision to rebrand and expand to provide a full-service marketing agency experience for its customers.
"We're excited to offer white-glove service to property management businesses that want to stand out in today's competitive online marketplace," said Catriona Orosco, director of REACH. "Enjoy premium, personalized attention from our team of creative designers, search marketing professionals and digital marketing consultants. As your marketing agency, we partner with you in ongoing conversations about your strategy including campaign analysis and performance auditing to drive the strongest results for your portfolio."
The agency is both a Google Premier Partner and Yext Certified Partner. REACH digital marketing services are available independently or packaged for a comprehensive approach.
About REACH by RentCafe
Reach your audience, goals and potential with a full-service digital marketing agency for property management businesses. REACH by RentCafe® certified experts are ready to help you create a winning web presence that drives conversions with complete transparency. Our services include website development, SEO, PPC, social media, reputation management and more.
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, California, and serves clients worldwide.
REAL ESTATE INVESTMENT
Landsea Homes | January 20, 2022
Landsea Homes Corporation (Nasdaq: LSEA) ("Landsea Homes" or the "Company"), a publicly traded residential homebuilder, announced today the completion of its acquisition of Hanover Family Builders (HFB), an Orlando-based homebuilder for a purchase price of $179.3 million, subject to certain post-closing adjustments plus the assumption of debt of approximately $69.3 million, which was refinanced with the Company's unsecured revolving credit facility. In 2021, Hanover closed 632 homes at an average selling price of $328,323 and ended the year with more than 4,100 lots under control, 469 homes in backlog worth more than $200 million and 18 active communities.
In 2021, Landsea Homes surpassed the milestone of $1.0 billion in revenues and completed our first year as a public company. We believe our acquisition of Hanover Family Builders is another truly transformative event for the Company, With the closing of this transaction, we have increased our lots under control to more than 12,800 and further accelerated our asset-light strategy by increasing our controlled lots to approximately 50% of our total lot inventory. We have also grown our active community count by more than 50% from our December 31, 2021 year end. This transaction vaults Landsea Homes into one of the leading positions in the Orlando area, a very attractive homebuilding market, and reaffirms our strategy of quickly becoming one of the top homebuilders in the markets we serve. Additionally, Hanover's focus on the more affordable segments of the market aligns strongly with our broader product positioning goals."
John Ho, Chief Executive Officer, Landsea Homes.
Founded in 2017 by brothers Matt, Steve and Andrew Orosz and homebuilding veteran Colby Franks, Hanover Family Builders began with nine communities in the Orlando region, in Osceola, Lake and Polk counties. Prior to founding Hanover Family Builders, Bill Orosz and the Orosz family had a long homebuilding history in Florida, creating Royal Oak Homes in 2011, which the family sold in 2014. The Orosz family also formed Cambridge Homes in the 1990s before selling it in 2005, when it was one of Central Florida's largest private homebuilders. Over the decades, the various companies have received numerous accolades for their growth rate, customer service and commitment to the community. Builder Advisor Group represented Hanover Family Builders as its broker in this transaction.
Hanover Family Builders has established a great reputation for providing wonderful homes and outstanding customer service across Central Florida, Given their strong track record, local market knowledge and long-standing relationships, we believe that Hanover will play an integral role as we expand in this region."
Landsea Homes entered the Florida housing market last year, with the acquisition of Vintage Estate Homes. With that purchase, Landsea Homes began providing homes in the Orlando area, including Palm Bay, Palm Coast, Ormond Beach, Lake Helen, Sorrento, Merritt Island and DeBary.
We were very impressed with Landsea Homes' strategic approach and commitment to building great homes with top-tier customer service – values that closely align with ours, Their senior leadership team is experienced and thoughtful, and they have created a culture of integrity that is dedicated to ensuring they provide best-in-class homes in each of their markets. We are honored to join one of the homebuilding industry's rising stars."
Hanover Family Builders Co-President, Steve Orosz.
In just eight short years, Landsea Homes has grown into one of the premier national homebuilders, with a strong and successful presence in each of their key markets including Arizona, Northern and Southern California, Texas and Florida.