REAL ESTATE INVESTMENT

ONE Sotheby's International Realty Expands to Northeast Florida

ONE Sotheby’s | January 31, 2022

ONE_Sotheby's_International
ONE Sotheby's International Realty announces the leading luxury brokerages entrance into the Northeast Florida market with the addition of affiliate firm First Coast Sotheby's International Realty. Marking its eighth recent acquisition, ONE Sotheby's International Realty continues to expand its presence along Florida's East Coast by welcoming First Coast's 93 agents and 5 offices across Palm Coast, St. Augustine, Ponte Vedra Beach, Jacksonville, and Amelia Island. The company will also launch its record-breaking Development Division to support sales and marketing for new projects in the flourishing market.

As one of the fastest growing markets in Florida, Jacksonville is a region we have been targeting as a key component of our expansion strategy, First Coast's Sotheby's International Realty brings an incredibly talented group of agents to grow with us as the leading luxury brokerage along the entire East Coast of Florida. Backed by our industry-leading resources, I am confident they will continue to outperform in the Northeast Florida market."

Daniel de la Vega, president of ONE Sotheby's International Realty.

First Coast Sotheby's International Realty has established a reputation for being the preeminent luxury real estate brokerage in Northeast Florida, representing more than $770 million in 2021 sales volume. The firm was founded in 2010 by Jeffrey and Jane Chefan, who quickly grew First Coast Sotheby's International Realty to be among the region's most trusted brokerages. In 2018, they teamed up with Lou Izzo, Brian Moorman, Joe Cutajar and Dan Collins to further strengthen a shared vision for bringing buyers and sellers together while elevating standards for high-end real estate services in the market. Together they offer more than 140+ years of combined experience and will continue to have an integral role within the company.

We are thrilled to join forces with ONE Sotheby's International Realty under the leadership of Mayi and Daniel,, Their company culture aligns with everything we have strived for—to deliver an exceptional client experience through our expertise, extraordinary marketing tools, innovative technology—and above all, authenticity."

Jeffrey Chefan, owner and Managing Broker of First Coast Sotheby's International Realty.

Recognized as the premier source for luxury real estate and development opportunities along Florida's East Coast, ONE Sotheby's International Realty offers an unsurpassed global network with an unmatched local footprint. The acquisition of First Coast Sotheby's International Realty brings the firm's total number of offices to 27 locations and 1,300 agents spanning Florida's entire East Coast.

Spotlight

Over the past few years, crowdfunding has grown to become an important part of selling products and creating new businesses. Its impact on the real estate industry has also been profound as investors now have a new means to fund their interests.

Spotlight

Over the past few years, crowdfunding has grown to become an important part of selling products and creating new businesses. Its impact on the real estate industry has also been profound as investors now have a new means to fund their interests.

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INVESTMENTS

Arch Street Capital and Orion Announce Single Tenant Office Partnership

Arch Street Capital | February 03, 2022

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BROKERAGE

Patria Investments and Moneda Combine to Create Leading Private Equity, Infrastructure, Credit investment Platform in Latin America

Patria Investments Limited | September 06, 2021

Patria Investments , a global alternative asset manager, announced today that it will combine with Moneda Asset Management ("Moneda"), a leading asset manager headquartered in Chile. When completed, the transaction will create an unrivaled investment platform in Latin America, with $25.9 billion in assets under management and a leader in Private Equity, Infrastructure and Credit investments in the region. The combination will enhance Patria's product offering by adding the largest credit investment platform in Latin America. It will also create the number one Private Investments in Public Equities (PIPE) manager in the region. The combination of the two operations will add geographical exposure within Latin America through client base and product offering and will open the opportunity for cross selling, leveraging a complementary investor base. With more than US$ 10 billion in assets under management across credit and public equities, Moneda is a leading investment firm in Latin America, with more than 25 years of history and a track record of top quartile performance, profitability and growth. Moneda also has a robust bottom-up investment strategy that drives alpha generation. "Our leadership team is thrilled that both companies are coming together. We are quickly delivering on the expansion strategy that we presented during our initial public offering earlier this year," said Alexandre Saigh, Patria's CEO. "The transaction will be accretive to earnings per share within the first year." The combined platform will manage over US$ 9.7 billion in Private Equity, US$ 5.5 billion in Credit (including US$650 million exposure to Private Credit), US$ 5.1 billion in Infrastructure, US$ 2.0 billion in Advisory & Distribution, US$ 3.0 billion in PIPE and Public Equities and US$ 500 million in Real Estate investments, in most cases with top quartile returns. "Complementary is the word that defines this transaction," said Olimpio Matarazzo, senior managing partner and chairman of the board at Patria. "The product offerings and the geographical and currency exposures are a perfect fit. Patria is a leader in Private Equity and Infrastructure investments in Latin America, and Moneda is the top credit investor in the region. In addition, both companies have a similar culture, based on partnership and exceptional client service." "This combination will leverage Moneda's outstanding track record and deal sourcing capabilities to lead the development of private credit in Latin America with unique local expertise while also continuing to develop our strategic investments in public equities in the region," said Pablo Echeverría, Moneda's chairman. "With Patria, we will have the opportunity to expand our cross selling of products, leveraging a complementary investor base," said Alfonso Duval, Moneda's CEO. "It is worth noting that both companies are partnerships led by like-minded, entrepreneurial teams. There's been a strong cultural alignment among the teams since the onset," said Mr. Duval. Under the agreement, Moneda partners will receive an upfront consideration of US$ 315 million, in a combination of US$ 128 million in cash and US$ 187 million in PAX Class B common stock. There will be an additional consideration payable in years two and three after closing, subject to certain retention metrics for Moneda's partners, and a potential earnout payable after 2023, in a combination of cash and PAX Class A common stock, subject to the achievement of certain revenue and profitability targets. In connection with the transaction, Patria retained JP Morgan Chase & Co, as financial advisor, Simpson Thacher & Barlett LLP, as transaction counsel, and Carey Abogados, as Chilean counsel. Moneda retained Servicios Financieros Altis S.A., as financial advisor, Skadden, Arps, Slate, Meagher & Flom LLP, as transaction counsel, and Barros & Errazuriz Abogados, as Chilean counsel. About Patria Investments With more than 30 years of experience in successful investments in Latin America and offering products in the areas of Private Equity, Infrastructure, Real Estate and Credit, Patria is one of the leading investment companies in private markets in Latin America in terms of capital raised, and one of the largest managers focused on investments in Latin America. With a solid presence in the market, it seeks to provide investors with attractive investment products that allow a diversified portfolio and consistent returns. With $15.8 billion of assets under management and a portfolio of more than 55 companies and assets, Patria has ten offices in the world's major financial centers.

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REAL ESTATE INVESTMENT

Fifth Corner Acquires Ella Oaks Shopping Center

Fifth Corner | January 07, 2022

Fifth Corner, founded by industry veterans Tenel Tayar, Chad Braun and Kerr Taylor, announces that it, through an affiliate, has acquired Ella Oaks Shopping Center. Fifth Corner continues to execute the time-tested investment strategy with the acquisition of Ella Oaks Shopping Center. Ella Oaks is a 28,056 square foot shopping center located at the southwest corner of Ella Blvd. and 34th Street in the GOOF (Garden Oaks/Oak Forest) and Greater Heights submarket of Houston Texas. The property is located on 2.46 acres of land, has six different points of vehicular access and enjoys an average household income within a 1-mile radius of $131,000 with 126,000 people in a 3-mile radius. The property is home to 15 different tenants, including BB's Café, Aladdin, Specialized Bikes, Oak Pointe Pediatric Dentistry, Sunday Press and other essential and experiential tenants that are woven into the fabric of the local community. Garden Oaks and the Greater Heights is one of the most dynamic submarkets in Houston, When we land in the middle of the 5D's of our investment framework with the wind in the sails of the community, we usually find opportunities better than we expected…and I think Ella Oaks is just that!" Tenel Tayar, Co-Founder and Managing Partner at Fifth Corner. Fifth Corner focuses on 'creating value on community focused Irreplaceable CornerTM properties' within the major markets of Texas. Our Irreplaceable CornerTM investment thesis has been honed over 30-years and proven through multiple economic and real estate cycles, We believe that our locational investment focus combined with our vertically integrated and dedicated operations team of professions will continue to create long term value for investors." Chad Braun, Co-Founder and Managing Partner at Fifth Corner. Fifth Corner Property Fund I, LP was fully invested as of April 2021 into eight different real estate projects, and realized its first monetization in May 2021 when it sold Sugarland Plaza, generating a 2X equity multiple and an 18% IRR on that property. For its current investment vehicle, Fifth Corner has two additional properties under contract in Fifth Corner's target markets with an anticipated closing in early April 2022. ABOUT FIFTH CORNER Fifth Corner is a Houston-based real estate company investing in and creating value on community-focused Irreplaceable Corners™ located in the fastest growing metros. The real estate strategy and culture are time-tested and refined over 30 years to create value for the properties, investors, and communities.

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