REAL ESTATE INVESTMENT

Orion Real Estate Partners Acquires 155-Unit Value-Add Apartment Complex in San Marcos, Texas (Austin MSA)

Orion Real Estate | December 30, 2021

Orion_Real_Estate
Los Angeles-based Orion Real Estate Partners ("Orion") announced today that it has acquired The Timbers, a garden-style apartment community in San Marcos, Texas. Orion purchased the 155-unit apartment community from The Jacobson Company who owned it since 2016 and plans to invest approximately $1.7mm in interior and exterior improvements. The Property sits on a nine-acre, irreplaceable hilltop site overlooking downtown San Marcos and Texas State University (TXST), home to 38,000 students. San Marcos is well positioned as an increasingly attractive and affordable alternative to Austin, home to over 2.1 million people with notable employers such as Apple, Facebook, Oracle, Google, Dell, and Tesla. The Timbers is located just 30 minutes away from downtown Austin.

This is Orion's sixth acquisition in the central Texas corridor, spanning from Austin to San Antonio, and the firm is focused on expanding its portfolio in the area.  Orion has a favorable long-term outlook on central Texas and expects that the corridor will continue to outperform the nation in both job and population growth. CBRE Multifamily Capital provided an acquisition loan through East West Bank, and Orion engaged Peak Campus, a national leader in student-housing, to provide property management services.

About Orion Real Estate Partners:
Orion Real Estate Partners is a private real estate investment firm that targets value-add multifamily assets in Western US markets with strong demographics and job growth. Utilizing proven institutional processes to source and manage investments, we identify assets with capital and operational repositioning opportunities to provide attractive returns for our investors.

Spotlight

India’s real estate industry has rapidly evolved into an organised sector in the last 10 years, riding on the back of state-of-the-art residential and commercial projects, innovative concepts that maximise the value-add potential of industrial parks and residential complexes, and concepts that are tailored to suit the versatile needs of consumers and markets. It is estimated that the sector will have a compound annual growth rate (CAGR) of 11.2% (FY 2008-2020) and grow to 180 billion USD by 2020.

Spotlight

India’s real estate industry has rapidly evolved into an organised sector in the last 10 years, riding on the back of state-of-the-art residential and commercial projects, innovative concepts that maximise the value-add potential of industrial parks and residential complexes, and concepts that are tailored to suit the versatile needs of consumers and markets. It is estimated that the sector will have a compound annual growth rate (CAGR) of 11.2% (FY 2008-2020) and grow to 180 billion USD by 2020.

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REAL ESTATE INVESTMENT

Douglas Elliman Announces Strategic Investment in Bilt Rewards

Douglas Elliman | September 22, 2021

New Valley Ventures, an investment vehicle managed by Douglas Elliman's parent company, Vector Group, announced a renter rewards program via strategic investment in Bilt Rewards, the first loyalty program and co-brand credit card for renters. The investment comes as Douglas Elliman officially joins the Bilt Rewards Alliance, a network of more than 2 million rental units across the country where renters can enroll in the loyalty program to earn points on rent with no fees. We are proud to support and align ourselves with Bilt Rewards as its program fills a gap in the market to set renters up for financial success and encourage a path towards homeownership. - Scott Durkin, CEO of Douglas Elliman. New Valley Ventures is dedicated to investing in innovative tech-driven solutions for the greater real estate community. - Dan Sachar, Managing Director of New Valley Ventures and Vice President of Enterprise Innovation for Vector Group. The funding round, which also counts Mastercard, Wells Fargo and other leading real estate property owners including AvalonBay Communities, Equity Residential, GID, Lennar, The Moinian Group, Morgan Properties, Starwood Capital Group, and Related Group as investors, will propel Bilt Rewards to further expand its loyalty partner network, grow its organic distribution channels, and open the Bilt Rewards platform and Bilt Mastercard more widely to the public. Launched this June by Kairos HQ, Bilt Rewards is the first-ever loyalty program and co-brand credit card for renters, enabling the country's 109 million renters to finally earn points on their largest monthly expense with no fees. By offering the Bilt Rewards program to tenants across Douglas Elliman's rental portfolio including new development projects, residents can now earn points with every on-time rent payment. Additionally, Douglas Elliman residents will be among the first to receive an invitation for the Bilt Mastercard, the first credit card that allows users to pay their rent with no fee. With the card, Douglas Elliman residents can earn 1x points on every dollar of rent, 2x points on travel purchases, 3x points on dining, and 1x points on all other non-rent purchases, allowing them to maximize rewards potential, all with no annual fee. Through Bilt, renters can redeem points for travel across over 100 major airlines and hotels, fitness classes at the country's top boutique studios, and can even use points towards rent credits or a future down payment on a home. When paying rent through the Bilt Rewards app, members can also have their rent payments reported to the credit bureaus at no cost, which can help build credit history for millions of young renters. New Valley Ventures continues to invest in promising, next-generation technologies in order to propel the real estate industry into the future and further benefit the agent, renter and buyer experience. In doing so, New Valley Ventures utilizes its deep industry knowledge through Douglas Elliman to advise on meaningful digital development, tech solutions and financial software. ABOUT VECTOR GROUP Vector Group is a holding company for Liggett Group LLC, Vector Tobacco Inc., New Valley LLC and Douglas Elliman Realty, LLC. ABOUT DOUGLAS ELLIMAN Established in 1911, Douglas Elliman Real Estate is the largest brokerage in the New York Metropolitan area and one of the largest independent residential real estate brokerages in the United States. With approximately 7,000 agents, the company operates approximately 100 offices in New York City, Long Island, The Hamptons, Westchester, Connecticut, New Jersey, Florida, California, Colorado, Massachusetts and Texas. Moreover, Douglas Elliman has a strategic global alliance with London-based Knight Frank Residential for business in the worldwide luxury markets spanning 61 countries and six continents. The company also controls a portfolio of real estate services including Douglas Elliman Development Marketing, Douglas Elliman Property Management and Douglas Elliman Commercial. ABOUT BILT REWARDS Launched by Kairos HQ in June 2021, Bilt Rewards is the first-ever loyalty program that allows renters to earn points on rent with no fees and builds a path towards homeownership. Through a partnership with the nation's largest real estate owners including Avalon Bay Communities, Equity Residential, Related, Starwood Capital Group and more, Bilt Rewards enables renters in more than two million units across the country to earn points just by paying rent. Bilt Rewards boasts one of the highest value rewards programs on the market today, including one-to-one point transfers to 9 loyalty programs allowing travel across over 100 major airlines and hotel partners; fitness classes at the country's top boutique studios including SoulCycle, Rumble and Y7; limited-edition and exclusive collections of art and home decor through the Bilt Collection, and the ability to use Bilt points for rent credits or towards a future downpayment. Bilt has also partnered with Mastercard to create the Bilt Mastercard - the first and only credit card that can be used to pay rent with no fees.

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REAL ESTATE INVESTMENT

Global Tourism Start-Up LynKey Announces Blockchain and NFT Solutions for $8 Billion of Smart Tourism and Property

LynKey | January 10, 2022

LynKey, a global platform that powers luxury resort and vacation property with Blockchain, AI, NFTs, and Metaverse tech, just launched a project aiming to tokenize and offer NFT, Metaverse solutions of over $8 billion dollars for travel and tourism. The idea of real estate tokenisation first came into public awareness when TechCrunch founder Michael Arrington purchased the world's first blockchain-backed apartment on Propy in 2017. In 2021, Arrington sold the Kiev-based apartment for 36 ETH. Lynkey is working on taking digitization of property and tourism on a scale not seen ever before. LynKey has started to digitise luxury tourism resorts, hotels and properties, first in Vietnam, and later, at multiple other destinations. LynKey, a blockchain Singapore based smart tourism and Property tech start-up are creating a blockchain-powered token marketplace and ecosystem that is tokenising over $8 billion dollars-worth of properties, in total, at the very launch! LynKey's objective is to tokenise all aspects of property development — purchases, leases, land use and related tourism entertainment — into an international blockchain-powered ecosystem. It envisions to connect the people around the world with the best of property tech and smart tourism premium experiences from resorts and cruises with NFTs and Metaverse AR and VR solutions. What is the company all about? A pioneer in smart tourism and real estate, LynKey was created by a team of international industry personalities. LynKey's solutions make travel rewarding in every way - the platform optimises timesharing, prepaid leasing or licensing of property-based experiences geared towards tourism, while offering an exclusive reward system for its users. With a global blockchain token marketplace ecosystem and community, LynKey efficiently overcomes the need for non-necessary intermediaries, empowering its users to explore the ecosystem that offers real-time solutions and soon, also metaverse experiences. Using NFTs and Metaverse solutions with AI data-driven protocol sets, we are creating clear digital transformation solutions for the travel and entertainment space with smart tourism and property tech that can help these industries in new solutions to empower these global industries. LynKey connects the global audience with a Blockchain-powered platform and a token that empowers an ecosystem for time-sharing using NFTs as a digital certification, and reward solutions at premium luxury tourist spots." Dinis Guarda, founder and non-executive Chairman of LynKey. Despite globalisation, Covid challenges in the tourism and travel industry persist. Blockchain and NFT technology can address and resolve these issues. Most global travellers or property buyers have to deal with local currencies, lack of transparency in buying or leasing property and timeshares, and losing money to high exchange fees or worse. A consolidated marketplace and token solution will solve many of these issues." Miss Cindy Tran, Co-Founder and Chairwoman of LynKey. While property businesses, companies, and cities need potential clients to thrive themselves, there is also a dire need for this industry to catch up with current technological advances. With global tourism forecast to reach a $1.3 trillion mark by the end of 2021, LynKey mitigates a majority of problems plaguing the travel industry. LynKey's token, NFTs and first properties and resort projects will be announced in Q1 of 2022. For more information on how to be involved or become an early participant and adopter, please visit www.lynkey.com. About LynKey Property Tech and smart tourism developer based in Singapore, with offices in Vietnam and London, LynKey has created a new blockchain NFTs, Metaverse, AI driven token ecosystem designed for travellers to book their tourism and property experiences with hotels, restaurants, timeshare, and other smart destination-based excursions.

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REAL ESTATE TECHNOLOGY

Schottenstein Real Estate Group sells developments for $177 million and announces 1200 new construction units

prnewswire | February 02, 2021

Schottenstein Real Estate Group, one of the biggest land improvement organizations in the Midwest, declares the offer of three of their advancements adding up to $177 million. The Delaware County advancements included are Powell Grand Communities, situated on Sawmill Parkway and Seldom Seen Roads, and Northlake Summit situated at Route 36/37 and I-71, which were offered to Cortland. Furthermore, Central Gardens Grand situated in Palm Beach Gardens, FL was offered to L&L Investors. Overseeing Partner for Schottenstein Real Estate Group, Corey Schottenstein expressed, "Our developments were located in perfect locations for these times in high end suburban areas, and the type of product we develop is probably one of the best real estate investments in the current economic climate." President of Schottenstein Real Estate Group, Brian Schottenstein says, "Our company has been fortunate to achieve a great year despite the unfortunate Covid pandemic, thanks to all of our employees involved and the nature of our developments. We currently have over 1200 new units in construction, and as our industry continues to boom, more are planned." Schottenstein Real Estate Group's emphasis on top of the line rental advancements is unequivocally obvious in their new tasks. One of the freshest: Liberty Grand Communities is the principal actually enormous arranged rental local area affirmed in Liberty Township, Delaware County, OH. Freedom Grand Communities sits on 300 sections of land only northwest of Olentangy Liberty High School close to Sawmill Parkway and Home Roads. It incorporates a blend of condos, garden lofts and farm homes, all with a couple of vehicle carports and different recently planned plans incorporating those with first floor main rooms. Occupants can exploit creative conveniences including a 14,000 square foot clubhouse, bocce ball, pickle ball, canine park, putt, a local area garden, resort style pool and lap pool, lounges, fishing wharf, bistros, card rooms and a 24-hour wellness focus. Freedom Summit is likewise in development in Liberty Township, Delaware County, OH. Orange Grand Communities is at present being created as the freshest and most pleasant rental local area ever underlying Orange Township, Delaware County, OH.

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