REAL ESTATE TECHNOLOGY, AGENT
Cadre | March 01, 2023
On February 28, 2023, Cadre, a technology-driven real estate investment management leader, announced its launch of an individual retirement account (IRA) solution. Through the solution, the investors are enabled to allocate their IRA funds into CRE (commercial real estate) via the Carde platform. The real estate company anticipates that the new investment option will continue to broaden access to CRE – a typically tax-advantaged asset class with more extended investment periods and attractive risk-adjusted returns relative to stocks.
IRA investors who experienced a challenging year in 2022 would be offered Carde's new solution. According to the Investment Company Institute, between Q1 and Q3 2022, U.S. retirement market assets decreased by more than 18% and lost $7.1 trillion. As per YCharts, S&P 500 Index Returns, and NCREIF Property Index, total returns for all property types IRAs held the majority of retirement assets holding over $11 trillion in assets allocated to equity funds. While S&P 500 index declined by more than 13%, whereas NCREIF Property Index increased by 9.13%.
Cadre's IRA solution follows the 2022 launch of the Cadre Horizon Fund, enabling retirement-focused investors to allocate IRA funds to the Fund via Cadre's online platform. The Cadre Horizon Fund can be held with a number of leading IRA custodians, including Equity Trust Company, The Entrust Group, and Millennium Trust Company. In addition, Cadre's Investor Relations team can help interested investors navigate the allocation process and determine Cadre's compatibility with other preferred IRA custodians.
About Cadre
Based in New York, Cadre is the premier technology-driven commercial real estate investment platform that offers individuals and institutional investors the opportunity to access expertly curated real estate assets with low fees, lower minimums, and unprecedented potential for liquidity. Cadre enables access to a historically opaque and illiquid asset class through its data-driven and transparent methodology. Cadre has closed more than $5 billion in real estate transactions across 25 U.S. markets since its founding in 2014.
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AGENT, MORTGAGE AND LENDING
Knock | January 25, 2023
Knock, an innovative fintech company, announced on January 24, 2023, that agents and consumers would no longer have to choose between working with their local or national lenders.
The company informed that any lender or agent can now add a no-interest equity advance loan from Knock to almost any conventional or jumbo mortgage to increase the benefits of Knock Home SwapTM. In addition, homeowners can win their desired property and move on their timeline by matching Knock Home Swap Equity Advance with a purchase mortgage.
Knock Co-Founder and CEO Sean Black stated, "Since 2015, our mission has been to empower people to move freely, and we have continued to raise the bar when it comes to making the process of buying and selling homes simple, certain and cost-effective."
"Many companies offer home loans, but no one else offers the Home Swap. By partnering with lenders, we are making it easier for consumers to get the benefits of leveraging the equity in their current house to buy their dream home without any of the hassles that typically come with buying and selling, including the ability to avoid moving twice and living through repairs and showings," he added.
(Source – Cision PR Newswire)
Before putting their current house on the market, a homeowner can use Knock Home Swap Equity Advance to make a firm offer, negotiate, and close quickly on the home they want.
Knock Home Swap Equity Advance loan can also be used to make up to a 30% down payment, buy down the mortgage rate, cover closing expenses, cover up to $35,000 in home preparation costs to sell the old house for top cash, and pay up to six months of mortgage payments on the previous house. Besides, Knock's Home Prep & Marketability Allowance gives access to its approved contractor network and pays all bills out of homeowners' equity.
About Knock
Knock was started in 2015 by founding team members of Trulia.com. Since then, it has raised more than $600 million in debt and equity from top investors. National Association of Realtors® is a strategic investor in Knock through its investment arm, Second Century Ventures. This means that Knock's homeownership solutions can be sold to its clients by its 1.5 million members. The company currently operates 72 markets across the country but wishes to expand to 100 by 2023.
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MARKET OUTLOOK,REAL ESTATE INVESTMENT
Origin Investments and Kovitz | January 09, 2023
Focus Financial Partners Inc., a leading partnership of independent, fiduciary wealth management firms, recently announced that it entered into a definitive agreement enabling Origin Holding Company, LLC, a Chicago, IL-based private real estate fund manager, to join forces with Focus partner firm Kovitz Investment Group Partners, LLC.
The firm will continue to provide its real estate funds under the Origin brand while retaining its leadership and investment team. The deal is anticipated to conclude in the first quarter of 2023, subject to the fulfillment of customary closing conditions.
Origin is a prominent manager of private real estate funds specializing in multifamily residential assets. The company manages multifamily property funds to provide investors with tax-efficient income, capital appreciation, and portfolio diversification. Its funds have more than 3,000 individual investors, many of whom were referred by other high-net-worth organizations. Its performance places them in the top decile of 2022's best private real estate fund managers, according to Preqin, an alternative investing data provider.
This strategic transaction will significantly expand the footprint and scale of Kovitz's private real estate fund solutions for clients, building on the company's long history of real estate investing success. Through this agreement, Kovitz will make its operational capabilities and wealth management know-how available to Origin and its investors.
Meanwhile, Berkshire Global Advisors served as Origin's primary financial advisor in this transaction.
David Scherer, Co-CEO of Origin, concluded, "In evaluating strategic partners, our objectives were to preserve and promote the continuity of our well-established brand while also gaining access to additional resources to help us better serve our funds' investors and grow our business."
About Origin Investments
Origin Investments provides best-in-class real estate solutions to HNWIs, family offices, and RIAs. It manages multifamily real estate developments in fast-growing U.S. markets. Since 2007, the company has accomplished $2.5 billion in real estate transactions, while its principals have invested $60 million. Alternative investment data source Preqin says that the company's performance is in the top 10% of the world's best private real estate fund managers.
About Kovitz
Kovitz Investment Group Partners, LLC (Kovitz) is an SEC-registered investment adviser that serves individual and institutional customers. It connects HNWIs, institutions, and financial professionals to asset management and advising methods. It offers long-term investing options backed by rigorous research. The organization approaches financial planning and wealth management as active activities, helping clients make the right decisions.
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