Rent growth largely flat in prime property market in London

Knight Frank | September 05, 2019

Rental value growth in prime central London has been broadly flat over the last 12 months, underpinned by the fact demand has grown faster than supply, the latest sector report says. However, as average sale prices have declined over the same period, this has led to a rise in yields, according to the August prime London lettings index from Knight Frank.

Spotlight

Real estate professionals attending the event were prompted to answer questions with real-time polling (via text message), which displayed answers instantly on screen. Questions addressed the health and future of real estate in Dallas. Let’s take a look at where Dallas industry leaders predict the market is heading.

Spotlight

Real estate professionals attending the event were prompted to answer questions with real-time polling (via text message), which displayed answers instantly on screen. Questions addressed the health and future of real estate in Dallas. Let’s take a look at where Dallas industry leaders predict the market is heading.

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REAL ESTATE TECHNOLOGY

First Phase of Multifamily at City North Begins with the Groundbreaking of Greystar's New Multifamily Housing Development

Greystar | January 13, 2022

Rental housing industry leader, Greystar, recently broke ground on the first phase of their multifamily housing development at City North in Phoenix, Ariz. This marks City North's first vertical element in the 100-acre project located just north of Interstate Loop 101 at the intersection of 55th Street and City North Drive in North Phoenix. Crown Realty is the master developer of City North which, upon completion, will also include an additional 3,000 residential units, 1.8 million square feet of class-A corporate office space, 620 hotel rooms, and up to 100,000 square feet of retail offerings and new restaurant concepts. The first phase of multifamily includes 272 units, and will be built, owned, and managed by Greystar and is expected to open in the summer of 2023. We are excited to team up with Crown Realty to include residential offerings at City North, This $93 million project is a perfect example of how Greystar and Crown are working together to help bring world-class residential development to the area and stimulate the economy by creating new jobs. We look forward to continuing to help Phoenix grow as a cultural, luxury, and business destination, specifically in the North Phoenix area." Greystar's Senior Director of Development Billy Cundiff. Adjacent to Greystar's multifamily project is High Street, which consists of 628,000 square feet of mixed-use Class A office and retail space including upscale dining and shopping options. Nearby is the heavily trafficked Desert Ridge Marketplace that features 1.2 million square feet of retail shopping, dining, and entertainment options. The City North neighborhood is the ultimate live, work and play environment, With fifty plus walkable restaurants and venues, all accessible via our communities and placed strategically near existing amenities, twelve feet walkways will allow residents to walk to work and to hotels where family and friends can stay. In addition, bike paths and rest areas will be strategically placed throughout the development, making City North the ideal neighborhood in the North Valley." Crown Realty's Senior Vice President of Acquisition and Development, Rick Carpinelli. The first phase of City North's multifamily housing development will offer exceptional design, market-leading finishes and amenities, and excellent views of the surrounding area from its 272 residences. Amenities will include a private pool, fitness center, cowork space, open courtyard, bike storage room, doggie spa, and a multipurpose deck on the fourth floor that will be built with sustainable and recycled materials. The first phase of multifamily will also offer 12 floorplan options with one, two or three bedrooms from which to choose. Pre-leasing is expected to begin in winter 2022. City North is conveniently located 25 minutes away from downtown Phoenix, Scottsdale, and the West Valley. City North boasts it is a highly desirable location with walkability to great retail and hospitality, access to transportation, and forward-thinking design. These benefits, plus convenient access to Loop 101 and Interstate 51 will allow residents of the first phase to immerse themselves in an urban living environment with a hometown feel. The architect of the first phase of Greystar's multifamily housing development is Todd + Associates and the interior designer is Lawrence Lake Interiors. About Greystar Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates an estimated $220 billion of real estate in more than 210 markets globally, including offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 748,000 units/beds, and has a robust institutional investment management platform with approximately $45.1 billion of assets under management, including over $21.3 billion of assets under development. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business.

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MARKET OUTLOOK

Centennial Property Group Announces A$ 100 million Senior Secured Loan Note Program Offering

prnewswire | November 09, 2020

This archive is arranged and given by CPG Financial Services Pty Ltd ACN 162 617 843; AFSL No. 436802 ("CPGFS"). Issues of Loan Notes will be made under a game plan between the backer of the Loan Notes, Centennial LN Pty Limited (ACN 645 494 177) ("the Issuer"), and CPGFS for the reasons for area 911A(2)(b) of the Corporations Act (Australia). The Issuer declared today that it means to offer, subject to advertise and different conditions, an AUD$100 million total head senior made sure about advance note (Program) in a private situation. CPGFS, for the benefit of the Issuer, looks for articulations of premium from people who are qualified to gain Loan Notes (see "Qualification" underneath) and whose conventional business incorporates the purchasing and selling of or putting resources into obligation interests of a sort like the Loan Notes to partake in the Program. CPGFS may, every once in a while, make recommendations to those Investors who have communicated a premium in partaking in the Program for the issuance of Loan Notes. The Issuer will contribute the returns of calls to be made under the Loan Notes in contract made sure about land advances to Australian property speculators and engineers. Key Features of the Program An outline of certain critical highlights of the Program is set out underneath. This record doesn't indicate to be finished and is qualified completely by, and Investors should peruse the entire of, the private Information Memorandum, the applicable Supplementary Information Memorandum, the Loan Note Subscription Deed and the other Transaction Documents of the significant Series of Loan Notes to settle on an educated choice about whether to put resources into any Loan Notes. About Centennial Property Group The Issuer is managed by CPG Lending Pty Ltd, a wholly owned subsidiary of Centennial Property Group ("CPG"). CPG was established in 2012 as a private family office style property investment group specialising in actively managed property investments, developments and property-backed lending. Since that time it has undertaken transactions with a total value of $1.6 billion and has provided consistently compelling risk adjusted returns to its investors. However, potential investors should note that past performance is not a reliable indicator of future performance and should not be relied upon in making a decision to invest in Loan Notes. The underlying loan portfolio will comprise loans for property investments and projects with similar characteristics to the property projects in which CPG has invested its Centennial Mortgage Opportunities Fund. The loans will typically be on less conservative lending terms than those offered by banks (constrained by Basel III and regulatory requirements) and thereby achieve an enhanced return for the Investors.

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REAL ESTATE TECHNOLOGY

SERVPRO Partners with Reonomy to Unlock New Depth of Commercial Market Intelligence

Reonomy | October 07, 2021

Reonomy, the leading provider of actionable commercial real estate (CRE) data, announced a partnership with SERVPRO, a leader in fire and water cleanup and restoration services, construction, mold mitigation, biohazard and pathogen remediation. Through this partnership, SERVPRO will have access to Reonomy's vast offering of property and ownership data, driving greater accuracy and efficiency in their lead generation efforts and aiding overall market share expansion. As part of a company-wide effort to build a smart and scalable lead generation tool to expand their national footprint, SERVPRO sought a commercial data provider that could service the distinct needs of its sales team across various geographic markets, and identify gaps in coverage to guarantee a full scope of customers. Reonomy's platform will play a key role in driving this initiative. Via Reonomy's API, SERVPRO's 1,900+ franchises will gain access to a more standardized and sophisticated business development pipeline rooted in data, allowing them to better identify opportunities in the markets while driving more strategic, targeted outreach to prospects across rural, suburban, and urban geographies. This partnership arises during a turning point in the restoration industry, where organizations are seeing a rise in sophisticated tools for driving more efficient business development capabilities. Reonomy will benefit from collaborating with SERVPRO's rich data science team, incorporating valuable, timely feedback as they ramp up their product development efforts and explore other use cases for their technology. We are constantly looking to explore deeper applications for our technology and are thrilled to be partnering with the SERVPRO team as they look to expand their national footprint in the commercial space, Their data team will be an invaluable partner to us as we continue building our product roadmap to service the industry. In our search for a partner, being able to have flexibility and depth in our data was key to successfully powering our lead generation efforts and helping us hit our expansion goals, We're excited to be working with Reonomy to provide a more efficient and flexible value offering to our franchise owners. - Mike Stahl, CMO of Servpro Industries, LLC. About Reonomy Reonomy is the leading provider of CRE insights, empowering top brokerages, financial institutions, and commercial services providers with actionable data and solutions. Armed with Reonomy's enterprise-grade products, CRE professionals and organizations gain comprehensive market understanding, discover opportunities, and streamline research processes. About Servpro For more than 50 years, SERVPRO® has been a trusted leader in fire and water cleanup and restoration services, mold mitigation, biohazard and pathogen remediation. SERVPRO's professional services network of more than 1,900 individually owned and operated franchises spans the United States and Canada, responding to property damage emergencies large and small from million-square-foot commercial facilities to individual homes. When disaster strikes, homeowners, business owners and major insurance companies alike rely on SERVPRO to make it "Like it never even happened."

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