Peerage Realty Partners formalizes a substantial partnership with Jameson Sotheby's International Realty of Chicago

Cision PR Newswire | February 06, 2020

Peerage Realty Partners Inc. ("Peerage") announces that it has formalized a substantial partnership with Jameson Sotheby's International Realty. The executive team of Jameson Sotheby's International Realty will continue to lead the firm and hold a significant equity interest, partnering with Peerage in the future growth and development of the firm. The firm generates US$2 billion in annual sales volume with 450 agents in 6 offices located in Chicago's Gold Coast and Lincoln Park neighborhoods, and suburban offices in Evanston, Winnetka, Barrington and Hinsdale. The completion of the Jameson Sotheby's International Realty partnership will further expand Peerage's footprint into the U.S. and across North America in the luxury real estate services market. With over US$112 billion in global sales volume, 23,000 sales associates and 1,000 offices in 71 countries and territories worldwide, the Sotheby's International Realty brand is the most talked about, written about, impactful residential real estate brokerage network in the world," said Miles S. Nadal, founder and executive chairman of the Peerage Capital Group. "We are very enthusiastic to continue to expand our partnership with Sotheby's International Realty Affiliates LLC on a broader geographic basis across North America and globally.

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Greater San Diego Association of REALTORS® Announces More Than $1 Million in Grant Funds to Defend Coastal Communities and Property Rights

Greater San Diego Association of REALTORS® | December 09, 2021

The Greater San Diego Association of REALTORS® (SDAR) announces an additional grant support for Smart Coast California, a 501(c)(6) organization founded by REALTORS® in response to sea level rise policies impacting coastal communities and property owners. The most recent grant in the amount of $495,000 was approved by the National Association of REALTOR® (NAR) on December 2, bringing the total grant awards this year to $1.07 million. SDAR President Carla Farley also serves as the 2021 President of Smart Coast California. The organization was founded in 2019 to monitor coastal policies and be a strong voice advocating for the protection of communities and the property rights of homeowners. Smart Coast California membership includes 29 local REALTOR® associations along California's 1,100-mile coastline. "The Greater San Diego Association of REALTORS® is not only the voice for real estate professionals, but also for property owners throughout San Diego County.We helped to form Smart Coast California to ensure a strong, unified voice was in place up and down California's coastline in defense of property rights and of our coastal communities." -Farley Previous grant funds totaling $300,000 were approved on October 5 by the California Association of REALTORS® (C.A.R.) IMPAC Trustees. The organization was earlier awarded $212,000 in August by NAR. The funds will be used to enhance monitoring capabilities, expand advocacy initiatives, and grow the organization. "Few individuals are aware of some of the controversial policies being advanced by the California Coastal Commission, including managed retreat, which would require the removal of needed protective devices, such as sea walls," explained Farley. "These policies are an affront to property rights and would prevent our coastal communities and property owners from defending their homes and neighborhoods from rising seas," she continued. "Through Smart Coast California, we monitor and respond to the actions of the California Coastal Commission and advocate for balanced coastal management policies that will protect the unique character of our coastal communities and the property rights of the individuals who call these areas home." At issue, the California Coastal Commission (CCC) is working with California's coastal cities and counties to update their Local Coastal Programs (LCPs) to account for sea level rise. Among the more controversial policies the CCC is recommending is "managed retreat," a coastal management policy that calls for relocation or removal of coastal structures, including homes, inland away from rising tides. This issue led to a decision on June 7 by the Del Mar City Council to withdraw their proposed update to their LCP, refusing to accept the CCC's recommended policies. Del Mar is now one of several cities who have withdrawn their proposal from consideration by the CCC.om "We've been tremendously active up and down the coast over the past 18 months, including weighing in on 16 local coastal plans as well as several related California Coastal Commission actions and state legislative proposals,The support we've received from our state and national associations, in conjunction with the funds from our coalition of local REALTOR® associations throughout the state, is instrumental to the success we've enjoyed this year and expect to continue in the years ahead." -Farley

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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. 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Walker & Dunlop Completes $156 Million Sale of Long Beach, CA Apartment Community

Walker & Dunlop | January 24, 2022

Walker & Dunlop, Inc. announced today that it facilitated the $156,000,000 sale and $91,260,000 financing of Volta on Pine , a 271-unit, core multifamily property with 1,300 square feet of ground floor retail space in the heart of Downtown Long Beach, California. Historically tied to aviation since the days of Amelia Earhart's 1920s explorations, Long Beach is now coined "Space Beach" and is rapidly becoming the epicenter of the aerospace industry. Startups including SpinLaunch, Rocket Lab, and Relativity Space have chosen the area as their headquarters since 2019, providing for a highly active job market in Long Beach. Volta on Pine will benefit from the recent uptick in Long Beach's booming job market and provide commuting renters with access to the approximately 950,000 jobs offered throughout Long Beach, Beach Cities, Downtown LA, and Irvine. Delivered in early 2021, the property is a collaboration between North America Sekisui House ("NASH") Holland JV and MVE + Partners Architects, which both have an expansive presence primarily in the Western Region's high-growth markets. Walker & Dunlop's Blake A. Rogers, Alexandra Caniglia, Kevin Sheehan, Hunter Combs, and Javier Rivera represented the sellers, Holland Partner Group and NASH and in the disposition to the buyer, Gelt, Inc. Mark Grace, John Montakab, and Trevor Fase arranged the financing from Nuveen on behalf of Gelt. Volta on Pine is ideally situated in the heart of Long Beach's Downtown, offering residents access to shopping destinations, world-class restaurants, breweries, and various grocery stores. Local attractions also include the Aquarium of the Pacific, Long Beach Convention & Entertainment Center, Long Beach Jazz Festival, Museum of Latin American Art (MOLAA), Lions Lighthouse, and the Long Beach Grand Prix. The property's outstanding community amenities include a rooftop terrace with ocean views and barbecue stations, executive meeting rooms, a 24-hour state-of-the-art fitness center, sky lounge, pool, and spa. The apartment homes feature best-in-class luxury interior features, including gourmet chef's kitchens with stainless steel appliances, quartz countertops, spa-inspired bathrooms, and spacious bedrooms. Walker & Dunlop is a leader in multifamily property sales, having completed $10 billion in volume from the first through third quarters of 2021, up 203% from the same period in 2020. In Los Angeles County alone, the team completed sales of over $1 billion with a total of 17 transactions in in 2021. The firm was also the top provider of capital to the U.S. multifamily market, originating $31 billion in transactions and lending over $24 billion for multifamily properties in 2020. About Walker & Dunlop Walker & Dunlop (NYSE: WD) is the largest provider of capital to the multifamily industry in the United States and the fourth largest lender on all commercial real estate including industrial, office, retail, and hospitality. Walker & Dunlop enables real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology make us more insightful and valuable to our clients, providing an unmatched experience every step of the way.

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