Real Estate Lender New Silver Launches FlipScout, A Free Tool For Investors

New Silver | August 20, 2020

New Silver the data-driven lender, has announced the launch of FlipScout a free tool that lets real estate investors find properties that they could earn the highest return on. New Silver is an established non-bank lender solving tough challenges in the “hard money” vertical. This newly-launched tool is now available on their website. “New Silver has been actively working to introduce modern solutions to pain points that are common in today’s real estate investment market. With FlipScout, you’ll be able to search for any city or zip code and find properties that make sense to investors.

Spotlight

In this week's video, John Chang discusses 3 important economic trends CRE investors should watch in the first half of 2023!

Marcus & Millichap's research services division takes great pride in providing industry-leading research, and hope you find value in the insights we share as you shape your commercial real estate investment strategy. As always, please contact our team if we can be of service in providing you with market information, access to inventory, transaction execution and financing.

Spotlight

In this week's video, John Chang discusses 3 important economic trends CRE investors should watch in the first half of 2023!

Marcus & Millichap's research services division takes great pride in providing industry-leading research, and hope you find value in the insights we share as you shape your commercial real estate investment strategy. As always, please contact our team if we can be of service in providing you with market information, access to inventory, transaction execution and financing.

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MARKET OUTLOOK,REAL ESTATE TECHNOLOGY

ZestyAI Enters into a Significant Agreement with Black Knight

ZestyAI | January 13, 2023

ZestyAI, a pioneer in AI-powered solutions for climate and property risk assessments, announced a partnership on January 12, 2023, with a renowned software, data, and analytics company Black Knight, Inc. The market leader will offer its mortgage, real estate, and capital markets clients access to ZestyAI's property risk analytics platform, Z-PROPERTYTM, in order to deliver fast property-condition reports and risk insights. ZestyAI's Z-PROPERTY technology extracts insights from aerial and satellite photos for over 150 million residential and commercial properties using computer vision and machine learning. ZestyAI maintains a digital twin of every property in North America that is continuously updated as changes in property condition, upkeep, and renovations affect each property's fluctuating worth and risk. Black Knight clients benefit significantly from Z-PROPERTY data when assessing property conditions. ZestyAI's technology examines features from each particular property, such as roof condition, to provide property-specific insights that will provide Black Knight's clients with an easy and cost-effective solution to improve their evaluation of property worth and risk throughout the mortgage life cycle. Julian Grey, Executive Vice President, Mortgage & Capital Markets Product Management at Black Knight Data & Analytics, said, "We're always looking to deliver even more powerful data and insights for our customers, and ZestyAI's property analytics platform immediately stood out." She added, "Investors and creditors will now have instant access to detailed property condition data much earlier in the origination cycle. Offering ZestyAI's roof condition assessment and other insights is a huge win for our customers." (Source - PR Newswire) In line with this, Attila Toth, Founder and CEO of ZestyAI, said, "Black Knight is the leading provider of rich data and analytics for the mortgage and real estate industries where real-time data and decisions are the new normal." "We're proud to provide Black Knight's clients with our unique property insights to further improve speed and accuracy during every step of the home acquisition and financing process," he concluded. (Source - PR Newswire) About ZestyAI ZestyAI provides insurers and real estate firms with comprehensive intelligence on every property in North America. The company employs artificial intelligence, including computer vision, to deliver a continually updated database of 200 billion property insights, which account for every aspect that can affect a property's value and associated hazards, including the possible impact of natural disasters.

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REAL ESTATE TECHNOLOGY, MORTGAGE AND LENDING

8Twelve Signs Mortgage Solution Agreement with Your Home Sold Guaranteed Realty

8Twelve Mortgage and Your Home Sold Guaranteed Realty | January 31, 2023

On January 30, 2023, 8Twelve Financial Technologies Inc. informed that it has agreed to supply mortgage solutions to Your Home Sold Guaranteed Realty (YHSGR), as well as to the company's agents and clients. The patented INFIN8 platform developed by 8Twelve uses real-time analytics, artificial intelligence, and workflow automation to select the optimal mortgage from the largest marketplace in Canada for bank, alternative, and private mortgage products. Todd Walters, CEO and Co-Founder, said, "At Your Home Sold Guaranteed Realty, we invest in our agents more than any brokerage you will find." He added, "Partnering with 8Twelve fits our model perfectly because we consistently equip our agents with differentiating tools that help them to build their business and dominate in the industry. This partnership ensures that YHSRG realtors have the best tool to secure financing for their deals." (Source – GlobeNewswire) When it comes to real estate, YHSGR is the only company in the United States and Canada licensed by the top real estate coach in the two countries, Craig Proctor. That's because only YHSGR agents have access to Craig Proctor's secret business strategies, which have helped more of them become millionaires than any other real estate trainer or coach. Akber Abbas, President and Chief Information Officer of 8Twelve, remarked, "With rising interest rates and tighter lending requirements, Canadians now more than ever need to know all their home financing options." "This agreement highlights the strength of our service offering in enabling large-scale enterprises to deliver the best financing solutions to their clients," he concluded. (Source – GlobeNewswire) About 8Twelve 8Twelve Mortgage Corp., based in Toronto, helps people all over Canada get the money they need for various financial projects, such as refinancing, renewal, debt consolidation, and more. The mission of 8Twelve is to make house ownership a reality for happy Canadians. The organization also provides clients with clear and extensive explanations, regular updates on their loan progress, and the chance to submit feedback throughout the mortgage loan process. About YHSGR Your Home Sold Guaranteed Realty (YHSGR) was established to become the best place in the real estate industry to work, buy, and sell a property. The company takes great pride in being one of the real estate companies in the country experiencing the most rapid growth. YHSGR assists with every aspect of the real estate transaction, whether one wants to buy or sell a home.

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REAL ESTATE TECHNOLOGY

Blueground to Acquire Brazilian PropTech Startup Tabas, Accelerating Its Global Expansion in South and Central America

Blueground and Tabas | November 18, 2022

Blueground, a PropTech scaleup offering a turnkey, flexible housing solution for renters globally, announces today it entered into agreement to acquire Brazilian PropTech startup, Tabas. Marking the first acquisition in Blueground’s nearly 10-year history, the company will soon acquire Tabas after leading Tabas’ $14 million Series A funding round earlier this year. Tabas is the largest operator of designer-quality furnished apartments for 30 days or more in São Paulo, Rio de Janeiro, and Brazilia. The acquisition, which is expected to close in early Q1 2023, enables Blueground to enter the Latin American market, and fuel the increased demand for furnished, flexible rentals in the region. Together Blueground and Tabas will launch Mexico City in early 2023. During the period between now and close, the two companies will continue to operate independently and will gradually integrate over the next year. The combined organization will have a presence in 29 cities across 16 countries, employing over 1,000 people. Based on current financial projections, the joint entity is projected to generate ~650M in 2023. Blueground is the largest turnkey property rental company in the 30+ day sector. It has a network of 9,500 move-in-ready, expertly-designed homes enabling people to flexibly live wherever they choose. The company was co-founded by CEO Alex Chatzieleftheriou in 2013, who, after many years as a business consultant, had experienced first-hand the pain points of living out of hotels for work for months at a time. He aspired to create a seamless way for people to freely move between neighborhoods, cities, and countries around the world. Blueground currently works with over 4,700 landlords globally, guaranteeing them rental income while providing expert property management and maintenance services at scale. The acquisition of Tabas will allow Blueground to grow its network faster, supporting its goals of 40,000 apartments across 50 cities by 2025, and add more location options for its client base. “We’ve had our sights set on Latin America for quite some time, as we see huge market potential for furnished and flexible rentals, Since our first investment in Tabas last year, we’ve developed immense respect for the Tabas team and what they’ve built in Brazil. With our best-in-class technology and our expertise in scaling the business, we'll continue to expand and offer the option for a flexible lifestyle in more markets globally.” -Alex Chatzieleftheriou, CEO and Co-founder, Blueground Founded in May 2020, Tabas was born out of the founders’ frustration with the lack of flexible, fully furnished rentals for mid- to long-term stays. Tabas now has over 1,000 apartments in three cities in Brazil - São Paulo, Rio de Janeiro, and Brazilia, raising over $20 million in funding prior to the acquisition. As the first project post-acquisition, Tabas will offer its knowledge and understanding of the market to support the launch of Blueground in Mexico City in early 2023, marking Blueground’s 30th city, and 11th in the last 12 months. Tabas and Blueground’s visions are fully aligned and together we can create even more value for our guests, our landlords and the Tabas team, This acquisition is yet another success story for Brazilian proptech companies. We're proud of the work we’ve done to get us this far; now it’s time to take it to the next level and continue bringing the turn-key, flexible rental living concept across Latin America,said Leonardo Morgatto, Co-founder and CEO, Tabas. The pandemic gave rise to new work environments, enabling people to explore the world and forgo traditional long-term leases for flexible rentals. To keep up with the growing demand, Blueground has doubled its supply of apartments in the last year. The acquisition is subject to standard closing conditions, including regulatory approvals. About Blueground Blueground is a global PropTech company that operates a curated network of thousands of quality, turnkey homes in sought-after neighborhoods around the globe, making them available for stays of a month or longer. Blueground’s tech-enabled platform provides a fully digitized experience; from viewing and booking available apartments within minutes to managing the entire stay through the Blueground Guest App. Blueground is headquartered in New York City, with a portfolio of thousands of apartments in 26 cities worldwide including in New York, Los Angeles, San Francisco, Boston, Chicago, Washington D.C., Denver, Seattle, Austin, Miami, Dubai, Istanbul, Paris, London, Vienna, Zurich, Berlin, Madrid, Barcelona, Lisbon, Basel, Luxembourg, Copenhagen, Hong Kong, Singapore, and Athens. Blueground plans to expand to 50 cities by 2025. About Tabas Tabas is a Brazilian real estate technology startup providing beautifully-designed fully-furnished apartments for flexible stay. Founded in early 2020, it already has more than 1,000 apartments in its portfolio, in the cities of São Paulo, Rio de Janeiro and Brasília, all located in upscale neighborhoods, equipped and decorated with sophistication. With unprecedented flexibility for the Brazilian market regarding rental contracts, the company works with terms starting from 30 days of rent, guaranteeing the property maintenance to the owners and uncomplicated and well assisted reservations to the tenants.

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