REAL ESTATE INVESTMENT
Invesco | February 21, 2022
Invesco Real Estate Income Trust Inc. ("INREIT"), an institutionally managed public non-listed REIT, announced today the acquisition of an industrial property and a grocery-anchored retail property. The combined purchase price was $94 million, bringing the gross assets of the INREIT portfolio to more than $850 million.
There continues to be strong demand for the industrial sector, which is benefiting from both secular and cyclical tailwinds. Investing in industrial properties is a strategic objective for INREIT and we are committed to finding the best ideas within the sector, We continue to have strong convictions that physical retail, such as grocery-anchored properties, have a role to play in portfolios and our approach remains selective when evaluating opportunities."
R. Scott Dennis, President and Chief Executive Officer for INREIT.
INREIT acquired a 95% interest in an industrial warehouse facility in the Columbus metropolitan area, where the market vacancy rate is currently below 2% for bulk distribution space. Built in 2000, the 378,283 square foot distribution facility is 100% leased. The property benefits from proximity to the international airport and rail, allowing for same-day and next-day deliveries throughout much of the country since Columbus is a one-day drive from 60% of the U.S. population.
2919-2999 Lewis Centre Way represents INREIT's fourth industrial investment, deepening its activity in the sector. This industrial asset brings INREIT's industrial portfolio to over $85 million, providing a durable income stream with long-term leases. This acquisition is part of a joint venture with Trident Capital Group.
INREIT acquired a 100% interest in Cortlandt Crossing, a newly constructed, high-quality grocery-anchored shopping center located in Westchester, New York. Built in 2019, the 122,225 square foot grocery center is 95% leased with strong, name brand anchors, including ShopRite and HomeSense, an affiliate of the TJX Companies.
INREIT's approach to the retail sector remains highly selective, with a focus on healthy demographics, high-quality trade areas and defensive grocery-anchored assets.
Invesco Real Estate Income Trust Inc. ("INREIT") is an institutionally managed public non-listed NAV REIT investing in a diversified portfolio of high-quality, income-producing properties located throughout the United States. Its thematic approach to investing focuses on where people consume, live, innovate and connect. INREIT seeks to invest in properties with resilient income and appreciation potential. INREIT expects to diversify its portfolio over time, including on a global basis. INREIT is managed by Invesco Advisers, Inc., a subsidiary of Invesco Ltd. and the registered investment adviser for Invesco Real Estate, the real estate investment center of Invesco Ltd.
REAL ESTATE TECHNOLOGY
prnewswire | January 28, 2021
Real estate tech company GA technologies Co., Ltd. (Head Office: Minato-ku, Tokyo, President & CEO: Ryu Higuchi, Securities Code: 3491; "the Company") announces that its group company RENOSY FINANCE Inc. (Head Office: Minato-ku, Tokyo, President & CEO: Ryu Higuchi; "RENOSY FINANCE") has launched a new loan service for RENOSY real estate investment owners ("the Owner") to cover their renovation (repair) costs for existing apartments. This will reduce the Owner's burden of temporary self-funding for their renovation costs that may occur during long-term ownership of commercial property. In addition, reducing the Owner's burden of renovation costs will revitalize the existing apartment market by increasing the value of existing apartments.
In addition, by connecting the RENOSY brand's renovation services and apartment management services*5, RENOSY FINANCE will provide a one-stop customer experience by minimizing procedures, including filling out application information and preparing necessary documents, and by achieving smoother loan screening. RENOSY FINANCE plans to implement an application system from My Page for RENOSY owners and within the app, as well as loan screening and progress management for renovation work.
Our group aims to contribute to the realization of a sustainable society by enhancing our services that can contribute to increasing the value of existing apartments, thereby enhancing customer experience and revitalizing the existing real estate market.
Lone Wolf Technologies | August 26, 2021
Lone Wolf Technologies is thrilled to announce it has acquired Propertybase. The acquisition rounds out Lone Wolf's unrivaled end-to-end technology with websites, lead generation tools, and enterprise-class CRM, enabling the company to deliver real estate's only complete technology platform for both agents and brokers.
"Lone Wolf and Propertybase have been on parallel tracks for years. We thought it was time our paths crossed," said Jimmy Kelly, CEO and President of Lone Wolf. "Propertybase is known for its incredible CRM and real estate websites, while Lone Wolf has long led the industry in transaction and back-office management. Our customers want—and need—these essential solutions to work together, so they can run their entire business in one place. This acquisition brings these leading products together and puts our combined team in position to deliver the ultimate unified technology platform for the real estate world."
Propertybase is the leading global provider of real estate websites, CRM, and lead generation software, serving 4,500 businesses and 250,000 users in over 80 countries. The company's flagship solutions include BoldLeads, a lead generation tool and service for agents and teams; Propertybase GO, a CRM and website solution for brokerages and teams; Propertybase Salesforce Edition, an enterprise-class real estate CRM solution built on Salesforce and available worldwide; and Unify, CRM software for mortgage professionals. These solutions add complementary front office tools to Lone Wolf's product portfolio, providing complete technology coverage from lead to listing to close for both agents and brokers.
"Joining forces with Lone Wolf is an exciting milestone for Propertybase and its customers," said Vance Loiselle, CEO of Propertybase. "Combining the power of Propertybase's innovative website, CRM, and marketing solutions with the unequaled capabilities of Lone Wolf's offerings will further allow real estate professionals to thrive using technology in a rapidly evolving industry."
Lone Wolf has acquired five top technology companies in the past nine months: W+R Studios, LionDesk, HomeSpotter, Terradatum, and Propertybase. With these additions, Lone Wolf's expanded end-to-end technology now includes solutions for marketing, CRM, CMA, transaction management, eSignature, brokerage operations, insights and analytics, talent management, as well as ancillary tools and services.
The company's focus is to now create an intuitive flow of data and identity across these solutions and connect several critical real estate processes for agents and brokers. Lone Wolf is also expanding its investment in artificial intelligence (AI) and machine-learning to produce unparalleled time-savings, transparency, and insights throughout each of these processes. The result will be a unified platform that empowers agents and brokers in a digital era, one that provides consumers with a modern real estate experience that can only come from a professional.
"We want to simplify real estate but not in a way that takes people out of the business," said Chris Egan, Chief Strategy Officer of Lone Wolf. "Our goal is to bring the time-honored tenets of the real estate world into the present with a modern, innovative, and connected technology platform that makes it simpler for people—and the professionals who help them to buy and sell homes.
Serving over 1.5 million agents, 15,000 brokerages, 1,000 MLSs and associations in North America, boasting nearly 650 employees with hundreds of cumulative years of experience, and offering the most trusted solutions in the industry involved in over 75% of all real estate transactions in the U.S. and Canada, Lone Wolf is the only company with the reach, size, and technology that can make this happen."
About Lone Wolf Technologies
Lone Wolf Technologies is the North American leader in residential real estate software, serving over 1.5 million real estate professionals across Canada and the U.S. With cloud solutions for agents, brokers, franchises, MLSs and associations alike, the company provides the entire real estate industry with the tools they need to amaze clients, build their business, and improve profits from transactions to back office, insights, and more, all in one place. Lone Wolf's offices are located in Cambridge, ON, Minneapolis, MN, and Dallas, TX.