Palm Beach Luxury Condo Sales Up in March, Yet Home Sales Down

Miami Association of Realtors | April 24, 2019

According to the Miami Association of Realtors, Palm Beach County luxury $1-million-and-up condominium sales increased again in March 2019. Palm Beach luxury condo sales increased 1.8 percent year-over-year in March, from 55 to 56. Luxury condo sales have increased for two consecutive months.
"Palm Beach is one of the best places to live, work and play," 2019 JTHS-MIAMI President Kim Price said. "South Florida has 100 miles of the most beautiful coastline in America. International and domestic homebuyers continue moving to our region."

Spotlight

The KCM Crew Some Highlights: Existing Home Sales are up 10.3% year-over-year across the country. Sales rose to an annual rate of 5.59 million marking the 10th month in a row of year-over-year gains Prices are up 5.6% year-over-year in the U.S. to a median price of $234,000 Marked the 41st consecutive month of year-over year price gains.

Spotlight

The KCM Crew Some Highlights: Existing Home Sales are up 10.3% year-over-year across the country. Sales rose to an annual rate of 5.59 million marking the 10th month in a row of year-over-year gains Prices are up 5.6% year-over-year in the U.S. to a median price of $234,000 Marked the 41st consecutive month of year-over year price gains.

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REAL ESTATE TECHNOLOGY

Coretrust Pioneers Bi-polar Ionization Technology That Purifies Elevator Air In Its Office Buildings In Collaboration With Elevator Company Partners

Coretrust Capital Partners | September 27, 2021

Coretrust Capital Partners is one of the first office building owners in the country to install bi-polar ionization generators that purify the air within all elevator cars at its large office properties in Philadelphia, Los Angeles and Pasadena. Coretrust collaborated with three leading elevator companies to pioneer the innovative technology since each of its buildings has different elevator suppliers. The bi-polar technology produces a natural bio-climate rich in positive and negative oxygen ions, each with an electric charge like those that exist in nature. The generator sends these ions into the entire elevator cab through the ventilation system. This is a pure and natural air purifying process that effectively restores the natural balance of ions in the air and neutralizes bacteria and virus cells, molds, odor causing particles, aerosols, and VOCs, Ricci states. Fujitec installed the IONFUL developed with the Sharp Corporation, to purify elevator cab air and decrease the risk of inhaling airborne pathogens at 2 Liberty Place in Philadelphia. Several efficacy reports over the past 15 years proved ionization effectiveness in mitigating the transmission of airborne pathogens including viruses, bacteria and fungi. - Joseph Rennekamp, Vice President, Operations, Fujitec America, Inc In addition, Coretrust worked with the three companies to completely overhaul and modernize all elevators at its three buildings: FourFortyFour South Flower Street in Los Angeles; 2 Liberty Place in Philadelphia; and PASARROYO office campus in Pasadena CA. The elevator companies also installed touchless destination dispatch systems in each car, allowing tenants to use personalized access cards to call cars to their respective floors without touching buttons. The elevator bi-polar ionization program is just one of the smart technologies that Coretrust has incorporated into its buildings to create a safe and healthy workplace for its tenants. Technologies include ADIBOT UV-C Robots placed in sensitive areas at night to disinfect air and surfaces against COVID-19 and other harmful airborne pathogens. The robots -- the first to be deployed at any office building in the country -- are created and manufactured by UBTECH Robotics, a global leader in intelligent humanoid robotics and AI technologies. A central element in achieving virtually hospital grade indoor air quality at all Coretrust properties is the patented Biowall MAX, an Ultraviolet Germicidal Irradiation Air Disinfection system by Sanuvox Technologies, Inc., a global leader in ultraviolet air purification. The Biowall MAX sterilizes 99.9 percent of airborne bio-contaminants and virtually eliminates the HVAC (Heating Ventilation Air Conditioning) system as a mode of virus transmission in buildings. Along with the Biowall MAX, Coretrust further enhanced indoor air quality by installing the highest effective MERV air filters allowable at each building, making frequent fresh air purges and allowing maximum fresh air ventilation throughout the day. A major Coretrust innovation was hacking the curtain wall of the FourFortyFour tower to create a 1,000-square-foot terrace that brings fresh air and sunlight into the 22,500-square-foot Workplace Innovation Lab on the sixth floor. Similar fresh air indoor terraces can be created for occupants at all our properties as desired, said Ricci. Coretrust also has added automatic doors, touchless parking garage entry, touchless security access for visitors and touchless restroom fixtures for tenant health and safety. Its comprehensive programs to create a safe office environment have earned Coretrust the first three global UL Verified Healthy Buildings Marks for Indoor Air and Water Quality for FourFortyFour, 2 Liberty Place and PASARROYO. The buildings also have earned U.S. Green Building Council LEED Gold Certification, GBAC STAR™ accreditation from the Global Biorisk Advisory Council, a division of ISSA, and WELL Building Health-Safety certification. These certifications by third party independent organizations recognize Coretrust's technologies and operating processes that prioritize building occupants' safety and wellness. Coretrust believes its comprehensive commitment to health, wellness and sustainability distinguishes its properties as Smart, Safe and Beautiful and among America's Best Workplaces, Ricci concludes. About Coretrust Capital Partners Coretrust Capital Partners, LLC is a Los Angeles-based private real estate operating company formed in 2014 by three original partners of Thomas Properties Group, Inc. Coretrust, a Registered Investment Advisor, provides fiduciary investment management services to institutional clients in both co-investment and separate account vehicles targeting opportunistic, value-add, core plus and core strategies in the office sector. Coretrust targets acquisitions in major urban centers located in the West Coast, Southwest and the Mid-Atlantic regions.

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HashCash Consultants Offering Highly Advanced Blockchain-Based White Label Real Estate Exchange Software to Property Firm in Singapore

HashCash Consultants | August 21, 2020

As real estate tokenization and trade gains momentum across the globe, HashCash has been intensifying its activities in the domain with new ventures. The leading blockchain and crypto development company is providing its white label real estate exchange software to a real estate firm based in UAE. It will help with the deployment of a new real estate exchange for the firm, allowing them to execute property tokenization and trade activities.

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REAL ESTATE INVESTMENT

Nuveen Real Estate extends Lane's Technology Partnership to the Office Tower of Midtown Manhattan

prnewswire | November 17, 2020

As a feature of its procedure to draw in with occupants both on location and on the web, Nuveen Real Estate, a main worldwide land supervisor, revealed the work environment experience innovation Lane at one more of their milestone properties. The move will bring Lane's honor winning web and portable stage to The Gardens at 780 Third Avenue, one of Nuveen's chief office towers, situated between East 48th and 49th roads in Midtown Manhattan's desired Plaza District. Nuveen's dispatch of Lane at the 500,000 sq. ft. Class An office space concurs with a $40 million friendliness and manageability centered remodel. To enable Nuveen to accomplish these objectives, the Lane stage will furnish occupants at The Gardens with an across the board "controller" for the working environment—permitting them to do everything from request lunch to book a gathering space to join a yoga class—all while giving property supervisors a successful device for building-wide correspondences, access the executives and tasks. For the time being, Lane will fill in as a critical device for imparting building strategies and conventions in light of COVID-19. "We are pleased to support Nuveen as they deliver a more seamless, engaging, and digitally powered office experience to tenants at 780 Third and across their portfolio," said Clinton J. Robinson, CEO and Co-Founder of Lane. "An all-in-one platform for the workplace, Lane is uniquely positioned to bring together the many facets of the work environment in a way that is intuitive, intelligent, and fosters connection with tenants—whether they're physically in the office or not. Lane's booking feature will also help Nuveen set up its new flex office and fitness space offerings at The Gardens." "780 Third Avenue is in the midst of a capital-intensive redevelopment with improved tenant experience as a major priority," said Brian Wallick, Director of New York Investments for Nuveen. "We are integrating new amenities such as a coffee bar, sustainability-driven restaurant, and modernized wellness center, in addition to an entirely tenant-focused coworking floor with an option to book private conference rooms." Before turning out Lane at The Gardens at 780, this late spring, Nuveen dispatched Lane's foundation at Waterford Business District in Miami, one of the biggest corporate office edifices in the southeast U.S. Traversing 250 sections of land and lodging in excess of 100 worldwide companies, Lane's foundation has changed the rambling grounds into a flourishing, associated environment. "We are excited to partner with Lane at another property in our portfolio to the benefit of our tenants at The Gardens at 780 and the surrounding community," said Jacinda Lofland, Director of Strategy & Innovation for Nuveen. "The digitalization of our office portfolio is a key initiative that we will continue to invest in. With Lane, we are able to provide our tenants with a consistent, user-friendly digital interface while building out additional features and integrations into the background over time. The platform also enables us to communicate more consistently with our tenants, providing important building information and soliciting tenant feedback via short-form surveys." About Lane Lane was founded in 2014 to deliver the future of work to commercial real estate properties around the world. The first technology solution of its kind, Lane's workplace experience platform addresses the needs of the entire workplace ecosystem — from corporate tenants and their employees, to asset managers and on-site building teams, to retail tenants, visitors, and everyone in between. With clients such as Colliers, Hullmark, Dream, Atlas, Brookfield Properties, and Kipling, Lane currently operates in 150 buildings and 300 million sq. ft. of commercial real estate in major cities across North America and around the world, including New York, Los Angeles, Sydney, Dubai, Houston, Dallas, San Francisco, Denver, Washington D.C., Toronto, Vancouver, Calgary, and Montreal. As part of its global expansion, Lane is currently launching with new clients in Brazil, Germany, and the United Kingdom. About Nuveen Real Estate Nuveen Real Estate is one of the largest investment managers in the world with $127 billion of assets under management. With over 80 years of real estate investing experience and more than 660 employees* located across over 25 cities throughout the United States, Europe and the Asia-Pacific region, the firm offers unparalleled geographic reach, which is married with deep sector expertise. *Includes 315+ real estate investment professionals, supported by a further 345+ Nuveen employees.

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