REAL ESTATE INVESTMENT, BUYING/SELLING
PRnewswire | March 30, 2023
Pacaso announced today the launch of a limited-time opportunity for accredited U.S. investors to invest in the category leading technology-enabled real estate marketplace that helps people buy and co-own a luxury second home. The new investment opportunity with Pacaso is a two year, 10% annualized promissory note backed by luxury real estate. Investors receive quarterly interest payments with a return of the principal at the end of the two year term. The fund aims to generate strong risk-adjusted financial returns for investors and provides Pacaso with flexibility to offer more attractive financing offers for second home buyers.
Investors benefit by earning consistent, passive income, diversifying their portfolio with luxury real estate, and enabling expanded financing options for Pacaso that help more people become second homeowners.
"Pacaso owners are the gold standard for consumer credit quality. This creates a win-win opportunity for investors to make consistent, passive income and future Pacaso homeowners to lock in seamless financing," said Pacaso CEO and Co-Founder Austin Allison. "This unique fund is a smart choice for people who want a low risk and low barrier of entry investment opportunity to diversify their portfolio by gaining exposure across high-quality, luxury real estate, which has proven to be one of the safest places to park money during uncertain times."
As the category leader of co-ownership of second homes, Pacaso has seen a tremendous response from high-net-worth buyers to the company's attractive integrated financing solutions on Pacaso listings and resales within the Pacaso marketplace. Pacaso is uniquely positioned for growth and second home demand has been off to a positive start in 2023. Deposits have increased 90% in the first two months of 2023, compared to the last two months of 2022.
Certain statements in this presentation may constitute "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding Pacaso's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "strive," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Pacaso does not give any assurance that Pacaso will achieve its expectations. Readers are cautioned not to put undue reliance on forward-looking statements, and Pacaso assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Pacaso® is a technology-enabled marketplace that modernizes real estate co-ownership to make second homes possible and enjoyable for more people. Pacaso curates luxury listings with premium amenities and high-end contemporary interior design, offers ⅛ to ½ ownership with integrated financing, and, after purchase, professionally manages the home and supports seamless resale. Co-founded by Austin Allison and Spencer Rascoff in 2020, Pacaso operates in 40 top second home destinations around the world. Pacaso has been certified as a Great Place to Work and is recognized as one of Glassdoor's 2022 Best Places to Work.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Newswire | May 29, 2023
Canada's leading real estate companies Dream Unlimited Corp., Kilmer Group and Tricon Residential Inc. (together, DKT Partnership) have officially launched Maple House, the first phase of Canary Landing – one of the largest and most significant rental communities in Canada. Altogether, the 12-acre community is comprised of 2,300 rental units – of which 30 per cent will be dedicated as affordable housing and 25 per cent will be barrier-free – creating a model for inclusive, true mixed-income communities across the city.
Canary Landing is located in Toronto's award-winning Canary District community, a pedestrian scale urban village adjacent to the Distillery District in the Downtown East. Canary Landing includes eight mixed-use buildings spanning four city blocks along Cherry Street. In addition to significant market and affordable rental housing, Canary Landing will also include 30,000 square feet of retail and a future 5,000 square foot community space. Canary Landing represents an innovative public-private partnership between the DKT Partnership, the Province of Ontario, the City of Toronto, the Government of Canada, and the Canada Mortgage and Housing Corporation (CMHC), all working collaboratively to create affordable housing solutions at scale.
"We are grateful for the collaboration with our municipal, provincial, and federal partners as we work towards our shared vision for Canary Landing, which will target ambitious LEED Gold sustainability outcomes, and provide long-term market rental and affordable housing. Maple House is the start of fulfilling our promise to create beautiful, sustainable, and affordable housing, and we look forward to seeing residents thrive in this vibrant new community very soon," says Andrew Joyner, Managing Director at Tricon Residential on behalf of the DKT Partnership.
Bringing much-needed affordable housing to the city, the development team is delivering 126 rental homes that will be filled in partnership with seven non-profit agencies from across the city, including: WoodGreen Community Services, Artscape, COSTI, Wigwamen, Performing Arts Lodge, March of Dimes and Interval House. These affordable rental homes will be offered at 40 to 80 per cent below the average market rent. An additional 105 affordable rental homes will be available to the public through a soon-to-be-released open market call. All 231 of the affordable homes have been financially supported by the City of Toronto's Open Door Program.
"We have all watched as Toronto's affordable housing crisis has grown during the past several years," says Anne Babcock, CEO of WoodGreen Community Services. "WoodGreen Community Services is thrilled to be working with other not-for-profit agencies and the DKT Partnership to deliver real and permanent housing solutions to a diverse range of Toronto residents. The Canary Landing initiative is a testament to what we can all do by working together for the common good."
Maple House sets the stage with community-centric amenities and design
Central to the vision for Canary Landing's Maple House is a desire to create beautiful architecture that is inclusive and accessible to all. The acclaimed architecture and design team, which includes Danish firm COBE, along with Canadian firms architectsAlliance and CCxA (Claude Cormier x Associés), focused on creating a design-forward and environmentally responsible community that respects the local heritage. Maple House has already garnered several accolades, including the Canadian Architect Award of Excellence and the 2021 BILD Award for Best New Community.
"Maple House is very special to us. It is not just a city-building project – more importantly, it is a community building project. We have focused a design that is highly contextual, connecting to the fine grain scale of the Distillery District, the prominent scale of Canary District, and at the same time, referencing the industrial heritage of Toronto's waterfront. It results in buildings that both fit in and stand out, and a project that celebrates architectural inclusion and fosters and embraces social diversity and cohesion in this magnificent context," says Dan Stubbergaard, Founder and Owner of Cobe.
"We are incredibly proud to be delivering this truly mixed-income community that is the first of its kind in Canada and a model for city-building," says Joyner. "This type of housing will strengthen our city's social fabric and meet the diverse needs of all Torontonians."
About Dream Unlimited Corp.
Dream Unlimited Corp. is a leading developer of exceptional office and residential assets in Toronto, owns stabilized income generating assets in both Canada and the U.S., and has an established and successful asset management business, inclusive of $24 billion of assets under management across four Toronto Stock Exchange ("TSX") listed trusts, our private asset management business and numerous partnerships. We also develop land and residential assets in Western Canada. Dream expects to generate more recurring income in the future as its urban development properties are completed and held for the long term. Dream has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities. For more information please visit: www.dream.ca.
About Kilmer Group
Kilmer Group is the privately-held Toronto based investment holding company of Canadian business leader and philanthropist, Larry Tanenbaum O.C. Kilmer operates in three verticals, 1) real estate and infrastructure, 2) sports, entertainment and media and 3) private equity. Kilmer's operations employ over 22,000 people with a long-term, multi-generational horizon and vision. Kilmer brings an entrepreneurial and solutions driven approach to project delivery.
Kilmer has more than 40 years experience in the construction and development industry in Canada and continues to maintain a focus on the infrastructure sector. Kilmer has extensive expertise in large-scale redevelopment and a focus on unique public private partnerships, mid-rise urban infill projects, and master planned communities. Kilmer is proud to have had a hand in the development of over 12,000 homes.
About Tricon Residential Inc.
Tricon Residential Inc. (NYSE: TCN, TSX: TCN) is an owner and operator of a growing portfolio of more than 36,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon's culture and business philosophy.
Tricon was the first-mover to enter Toronto's purpose-built rental apartment sector with scale in 2016, and is today the market leader and most active developer in the marketplace. We partner with celebrated architects to create inviting living spaces and inspired amenities, empower our employees to deliver an exceptional service experience with the support of an innovative technology enabled platform, and build resident community through programming and events to foster meaningful connections. At Tricon, we have reimagined rental living.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Businesswire | May 30, 2023
Rubicon Technologies, Inc. (“Rubicon” or the “Company”) (NYSE: RBT), a leading digital marketplace for waste and recycling and provider of innovative software-based products for businesses and governments worldwide, today announced that it has entered into an agreement with GoldOller Real Estate Investments (“GoldOller”), a seasoned real estate investment and management firm, to provide scalable waste and recycling services.
GoldOller finds unique investment opportunities in markets and product classes often passed over by more traditional institutional investors. In this three-year agreement, Rubicon will provide waste and single-stream recycling services to GoldOller across 17 multifamily locations in the United States. With a growing portfolio of owned and managed multifamily assets totaling more than 40,000 units, GoldOller’s properties extend from New York to Florida, and all the way across to Texas. The three founding members of GoldOller have a combined 70 plus years of experience in real estate investment, management, and development.
Rubicon will bring its market-leading RUBICONConnect™ product, and the power and scope of its network of more than 8,000 hauler and vendor partners, to bear in providing scalable waste, recycling, and sustainability solutions to GoldOller in support of its environmental and business goals.
“Rubicon is proud to support GoldOller’s forward-thinking approach to real estate investment with our industry-leading waste, recycling, and sustainability solutions,” said Tom Owston, Chief Commercial Officer at Rubicon. “By providing scalable waste and recycling services through our digital platform, we’re supporting GoldOller in its efforts to reduce its environmental impact while delivering value to its stakeholders.”
“We are excited to partner with Rubicon to help us achieve our environmental and business goals while also improving the quality of life for our residents,” said Sarah Campion, VP of Asset Management at GoldOller. “We believe that the use of Rubicon’s technology will help us make a measurable difference in the communities where we operate.”
For more information on how Rubicon is deploying its market-leading technology products to equip businesses, local governments, and haulers with the tools and software they need to improve operations, meet sustainability goals, and (ultimately) end waste, visit the enterprises, governments, and haulers pages on Rubicon’s website.
Rubicon Technologies, Inc. (NYSE: RBT) is a digital marketplace for waste and recycling, and provider of innovative software-based products for businesses and governments worldwide. Striving to create a new industry standard by using technology to drive environmental innovation, the company helps turn businesses into more sustainable enterprises, and neighborhoods into greener and smarter places to live and work. Rubicon’s mission is to end waste. It helps its partners find economic value in their waste streams and confidently execute on their sustainability goals. To learn more, visit rubicon.com.
AboutGoldOller Real Estate Investments
With a growing portfolio of owned and managed multifamily assets totaling more than 40,000 units, GoldOller “Nation” now extends from New York to Florida and all the way across to Texas. Richard Oller and Jeffrey Goldstein joined forces in 2004 sharing the helm at Multifamily Management Services and affiliates (MMS) and together with founding member Jake Hollinger created GoldOller Real Estate Investments in 2009. With a combined 70-plus years of experience in real estate investment, management, and development – projects include market rate and affordable apartments, condominiums, office, hotel, retail, and single-family development. Led by Richard, Jeffrey, Jake, and the addition of VP of Operations Jill Hinton – GoldOller Real Estate Investments is an innovative owner/operator and an emerging leader in the multifamily real estate industry. And while our expertise is increasing value, our business is helping you achieve your investment objectives, reach your career potential or experience comfortable living.