REAL ESTATE TECHNOLOGY
Built Technologies | August 01, 2022
Built Technologies, a leading software provider for real estate lenders and the construction industry, announced that it has acquired Nativ, a leading deal management platform for commercial real estate (CRE) lenders. The acquisition will enhance Built’s existing product suite for commercial lenders and enable improved underwriting and asset management capabilities across construction, transitional, and stabilized assets.
Built Co-Founder and CEO Chase Gilbert said, “After years working with top real estate lenders in the US and Canada, our customers began voicing their desire for us to help them solve new problems beyond just managing their construction loans. Our customers were experiencing difficulties with the underwriting and asset-management of loans as well as with aggregate portfolio management and reporting. When we were introduced to Nativ, the powerful tools to streamline these very processes were an obvious fit. This acquisition will also give Built access to a rich data set for how various real estate assets are performing, allowing us to provide innovative risk intelligence products to our customers over time.”
“Built’s construction lending solution offers our real estate clients an enhanced banking experience and aligns with Regions’ goal of innovating through technology. The recently announced collaboration between Built and Nativ is exciting, as the combined platform specializes in both construction and stabilized commercial real estate transaction management and allows lenders to work in their native workflows–all while benefiting from a centralized, audited, and enriched data model in the cloud.” – Tan Phillips, Regions Real Estate Banking
CRE lenders often silo information required to make intelligent lending decisions. Managing this information manually is expensive and exposes lenders to unnecessary risk. This approach prevents lenders from making strategic decisions in a timely manner, constraining growth and hurting portfolio profitability.
Nativ’s platform solves this by:
Providing a centralized, collaborative system of record that synchronizes deal data across each loan stage
Enabling lenders to integrate portfolio management while preserving familiar or “native” workflows including spreadsheets, and complementing common loan origination and servicing systems
Layering on alerts and monitoring to validate loan covenant compliance
Delivering flexible portfolio analytics, reporting and monitoring to manage risks and automate common tasks
“Joining forces with Built will fundamentally change how lenders and owners work together, Lenders have long been underserved by a lack of modern, industry-specific tools to speed the process of closing and managing loans. Together, we will change the way lenders and owners transact in the entire ‘built’ world.”
Jeff Saul, Co-CEO and Co-Founder, Nativ
Saul and co-founder Adam Kerr join Built’s leadership team. The deal brings Built’s headcount to over 430 and expands the company’s presence in New York City. Built now serves over 220 lenders, including some of the largest non-bank lenders such as AllianceBernstein, Prime Finance and Benefit Street Partners.
Built is the leading provider of construction and real estate finance technology. By providing a centralized platform for all stakeholders, Built enables increased efficiency, collaboration, transparency, and business agility—with decreased risk—allowing customers to improve the way that the communities around them are built and managed. The Built platform is used by more than 220 leading North American lenders and asset managers, and thousands of developers, home builders and contractors.
Nativ is a leading enterprise software provider to the Commercial Real Estate investment industry. Nativ has helped clients across the country invest in and manage billions of CRE assets. Products focus on workflow automation and the use of proprietary technology to optimize the underwriting and investment decision process through improved harnessing and utilization of deal data. Clients include funds, REITs, banks and insurance companies across the U.S.
REAL ESTATE TECHNOLOGY
Sealy & Company | July 20, 2022
Sealy & Company, a fully-integrated commercial real estate investment and operating company and recognized leader in the industrial real estate market, announces the acquisition of 200 NW 142nd Street in the Oklahoma City MSA. The 27,000 square foot Class A Industrial property was acquired in an off-market deal for an undisclosed amount.
The rear-load warehouse distribution center offers optimal functionality for a smaller warehouse, including nine dock-high doors, eight drive-in doors, 22’ clear heights, and minimal office finish-out. The property is located in one of Oklahoma City’s most attractive submarkets. The irreplaceable infill location is situated one mile from the intersection of Highway 77 and John Kilpatrick Turnpike and just five miles from Interstate-35. The property is currently 100% leased to three tenants
Fueled by robust population growth and the rise of e-commerce, the Oklahoma City region has added 16.4 million SF of new industrial space since 2010. With the area’s central location, steady job growth, and strong transportation infrastructure, the region continues to solidify itself as an emerging logistics hub. Oklahoma City is only one of 14 cities across the country to add more than 100,000 people in the last ten years, according to 2020 data from the U.S. Census Bureau. Of the 25 largest cities by population, Oklahoma City had the sixth-fastest growth rate between 2010 and 2020 at 17.4 percent.
“Sealy & Company first entered the Oklahoma City market in 2014. Since then, we have continued to seek investment opportunities in industrial real estate that align with our portfolio by design objective. Oklahoma City has been a great market for Sealy, and we look forward to continuing to acquire and develop quality industrial properties,”
Davis Gibbs, Sealy & Company’s Director— Investment Services
Jason Gandy, Managing Director – Investment Services, and Mr. Gibbs led the transactions for Sealy & Company. Jason Hammock of CBRE represented the seller.
Sealy & Company
Sealy & Company, a fully-integrated commercial real estate investment and operating company, is a recognized leader in acquiring, developing, and redeveloping regional distribution warehouses, industrial/flex, and other commercial properties. Sealy provides a full-service platform for high-net-worth individuals and institutional investors through our development, management, and brokerage divisions. Sealy & Company has an exceptional team of over 100 employees, located in eight offices, with corporate offices in Dallas, TX and Shreveport, LA.
REAL ESTATE INVESTMENT
Doma Holdings | July 28, 2022
Doma Holdings, Inc. a leading force for disruptive change in the real estate industry, today announced that Point, a home equity financial platform, is leveraging the Doma Intelligence platform to quickly scale its operations and provide more financial freedom to its customers. Through Doma’s machine learning-driven Intelligence Platform, Point is experiencing some of the fastest title commitments and customer service responses in the industry, further matching Point’s goal for growth and customer satisfaction.
Prior to working with Doma, title clear-to-close was a source of delays for Point and its customers. As a company focused on scaling its Home Equity Investment (HEI) offering, Point needed a like-minded, tech-forward partner to enable its growth without sacrificing the quality of customer service. Since onboarding with Doma, Point has increased its order volume by approximately 200 percent across 17 states in only four months. Further, Point has received title clearance in under a minute in over 70 percent of its orders.
“Previously, getting title clear-to-close was a common source of delays for us, which ultimately jeopardized the closing dates, causing angst for our affected customers,” said Eddie Lim, CEO and co-founder at Point. “Since partnering with Doma, we have seen both a reduction in delays related to title and an increase in positive feedback from homeowners about the smooth process—a win-win for everyone involved.”
Using Doma’s proprietary, machine learning technology backed by a first-class operations team, Point was able to improve many of its key operational metrics, including processing times for title commitments, time to receive clear to close for investments and customer service responses. As a result, Point is able to provide its customers with a different way to access to their home equity, putting thousands of homeowners on a path towards financial independence.
“It’s inspiring to see how Point has implemented Doma’s technology to enable homeowners to access their home equity, We look forward to continuing to support Point’s rapid growth and our shared commitment to providing homeowners with an instant and frictionless closing experience.”
Max Simkoff, Doma CEO
Doma is a real estate technology company that is disrupting a century-old industry by building an instant and frictionless home closing experience for buyers and sellers. Doma uses proprietary machine intelligence technology and deep human expertise to create a vastly more simple and affordable experience for everyone involved in a residential real estate transaction, including current and prospective homeowners, mortgage lenders, title agents, and real estate professionals. With Doma, what used to take days can now be done in minutes, replacing an arcane and cumbersome process with a digital experience designed for today's world.
Point is a home equity platform that makes home wealth more valuable for everyone. With a Home Equity Investment (HEI) from Point, homeowners can unlock their home equity, enabling them to eliminate debt, get through periods of financial hardship, and diversify their wealth. For investors, Point provides access to a previously untapped asset class in the residential real estate space. Founded in 2015 by Eddie Lim, Eoin Matthews and Alex Rampell, Point is backed by top investors including Westcap, Andreessen Horowitz, Ribbit Capital, Greylock Partners, Bloomberg Beta, Redwood Trust, Atalaya Capital Management, Kingsbridge Wealth Management, Deer Park Road Management, The Palisades Group, Alpaca VC, and Prudential. To date, Point has raised over $170 million in equity capital. The company is headquartered in Palo Alto, CA.