REAL ESTATE TECHNOLOGY

Scioto Properties Completes a $20 Million+ real estate Acquisition

Scioto Properties | June 28, 2021

Scioto Properties, LLC, the largest provider of housing for people with disabilities in the United States, which also serves the traumatic brain injury, mental health treatment, substance abuse, and adult day services markets with sale-leasebacks and build-to-suits, announced the acquisition of two commercial campuses and one residential property from Pate Rehabilitation Endeavors, Inc. on Friday, June 18, 2021.

Pate Rehabilitation, a traumatic brain injury provider with a 30-year track record of superior patient outcomes based in Dallas, Texas, was acquired on June 18, 2021, by the Rehab Without Walls Neuro Rehab unit of BrightSpring Health Services, based in Louisville, Kentucky, a provider of both clinical and nonclinical habilitative care services for people of all ages, health and skill levels, ac


About Scioto Properties

Scioto Properties has been assisting healthcare companies of all sizes with their real estate requirements for over 20 years. Scioto is a nationwide real estate business that is the biggest supplier of housing for individuals with disabilities in the United States. It also serves the traumatic brain injury, psychiatric, drug addiction, and adult day markets. The company is dedicated to creating and investing in high-quality housing and healthcare real estate. We are dedicated to creating and investing in high-quality housing and healthcare real estate.

Spotlight

Real estate is all about location, location, location! It’s no surprise that what affects home value more than anything else is your proximity to certain places (or people).

Spotlight

Real estate is all about location, location, location! It’s no surprise that what affects home value more than anything else is your proximity to certain places (or people).

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REAL ESTATE TECHNOLOGY

RESAAS Partners with HelloSign to Bring Signed Referral Agreements to the Real Estate Industry

HelloSign and RESAAS | August 20, 2022

RESAAS Services Inc., a technology platform for the real estate industry, has partnered with HelloSign, a Dropbox company, bringing electronically-signed referral agreements to the real estate industry. RESAAS is already used by one in four REALTORS® in the United States for facilitating brokerage-agnostic referrals between Real Estate Agents. To facilitate a secure and transparent method to electronically sign a referral agreement, RESAAS has successfully integrated HelloSign technology into the RESAAS platform. "HelloSign is excited to partner with an industry platform with the vast reach RESAAS has across real estate, Our ability to provide global scale that organizations like RESAAS require sets us apart. HelloSign's technology makes integrations efficient, which enabled RESAAS to incorporate electronic signatures into its existing technology platform in just two weeks." -Kelash Kumar, Vice President of Product at Dropbox Since implementing HelloSign, RESAAS has seen over 80% of new referrals use electronically signed referral agreements. RESAAS has brought trust to the real estate industry, The addition of electronically signed agreements to the existing RESAAS referral network is what the industry has been calling for. The RESAAS referral solution has already won multiple industry awards, enabling REALTORS® to trade referral business globally. Now, thanks to electronically signed referral agreements, RESAAS Agents can set out agreed terms of referrals and ensure they collect a fee for any referral they share through RESAAS,said Tom Rossiter, CEO of RESAAS. About HelloSign HelloSign, a Dropbox company, simplifies work for millions of individuals. Customers all over the world trust the HelloSign platform – which includes eSignature, digital workflow and electronic fax solutions with HelloSign, HelloWorks and HelloFax – to automate and manage their most important business transactions. About RESAAS Services Inc. RESAAS is an award-winning global technology platform for the real estate industry. With over 500,000 real estate agents utilizing RESAAS in 160 countries, RESAAS enables real-time industry communication, delivers new business opportunities and captures unique real estate data. Some of real estate's biggest brands leverage RESAAS to provide business intelligence to real estate brokerages, franchises and associations.

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REAL ESTATE TECHNOLOGY

Fairstead announces acquisition of historic aurora apartments in san antonio

FAIRSTEAD | July 26, 2022

Fairstead, a purpose-driven, vertically integrated real estate company committed to sustainable development and the creation and preservation of high-quality housing, today announced the acquisition of the historic Aurora Apartments (Aurora) tower in the Tobin Hill neighborhood of San Antonio. Located at 509 Howard Street, the 11-story building comprises 105 apartments that are home to low-income senior residents. Fairstead will invest $15 million to rehabilitate Aurora Apartments while preserving Aurora's affordability and historic character long-term. The renovations will modernize the interior homes of the 92-year-old property and preserve its historic façade as well as original mosaic tile flooring and walls, historical interior doors, and hardware. Renovations will upgrade the infrastructure of the building including a new emergency generator, electrical panels and main switchgear, installing a sprinkler system, two new elevators, and new roofing. The apartments will also be upgraded with new Energy Star appliances, kitchens and bathrooms, and HVAC units. Construction is expected to begin this summer. "Fairstead is proud to be stewards of historic properties across the country, and we are bringing our approach to preserving both history and affordability to the Aurora Apartments, By expanding our footprint in Texas, we can ensure that its critical affordable housing stock is not only protected but improved and modernized. Our plan to overhaul the homes at Aurora will ensure our senior residents can age in place with dignity – something we are committed to doing nationwide." Allan Izzo, Director, Development at Fairstead Fairstead is financing the rehabilitation in partnership with the Las Varas Public Facility Corporation, a nonprofit managed by the San Antonio Housing Authority, the Texas Department of Housing and Community Affairs, Capital One, N.A., and Boston Financial. "About half of the residents receiving housing assistance from SAHA are elderly on a fixed income," said Tim Alcott, the San Antonio Housing Authority Chief Legal and Real Estate Officer. "We celebrate partnerships that help maintain affordable housing options for the families we serve and provide a place of security." "Boston Financial is proud to have partnered with Fairstead on the preservation of Aurora Apartments in San Antonio, Texas. Our investment has helped Fairstead to modernize 105 units of housing for the residents of this historic community, especially seniors, and preserved much-needed affordable homes for the region," said Stephen Napolitano, Senior Vice President, Boston Financial. "We believe in Fairstead's commitment to building vibrant communities across the US, and our work together reinforces our own vision to create a future where everyone has a home, one investment at a time." "This renovation will help bring transformative change to Aurora Apartments with fully renovated unit interiors and common areas, as well as accessibility and energy efficiency improvements" said Evan Williams, senior vice president of Agency Finance at Capital One. "By leveraging our relationships with Fairstead and Freddie Mac, as well as the rest of the development team, Capital One was able to arrange an index lock, which mitigated the risk of interest volatility and ensured the project benefited from a 2.92% treasury rate." Fairstead is partnering with the non-profit Rainbow Housing Assistance to provide much-needed social services to residents through the company's commitment to Community Impact. "Rainbow is grateful for the opportunity to partner with Fairstead at Aurora Apartments. We are excited to bring valuable programs and services to the residents of the community and promote social and economic advancements while ensuring tenant stabilization," said Flynann Janisse, President and Executive Director of Rainbow Housing Assistance Corporation. "Rainbow will offer a variety of programs targeting financial literacy, credit enhancements, education, ESL, career development and immediate employment. We will establish tailored programing to meet the unique needs of each individual and family that calls Aurora Apartments home. We look forward to lifting lives in partnership with Fairstead." Built in 1930 as a luxury hotel in the Neo-Gothic architectural style, Aurora is listed on the National Register of Historic Places. Known for its hand-carved fireplaces and grand common spaces, the vintage 11-story apartment building will remain a pet-friendly place to call home. Half of the building's units are reserved for residents making up to 50 percent of the Area Median Income (AMI) and the other half are for households making up to 60 percent AMI. This news follows Fairstead's recent acquisition of the 160-unit affordable housing complex Gateway Apartments at Lake Jackson in the Greater Houston metropolitan area. Fairstead is renovating and expanding Gateway's amenity offerings, including a fitness room and playground, and is transforming the property's outdoor recreation spaces to create a more connected community for residents. About Fairstead Fairstead is a purpose-driven vertically integrated real estate developer specializing in creating sustainable, high-quality housing. The firm's national footprint includes more than $6 billion in assets and identified pipeline. With offices in New York, Maryland, and South Carolina, Fairstead's team manages 90+ communities across the country and runs its comprehensive real estate platform, which includes acquisitions and development, venture capital investments in prop tech, design and construction, energy and sustainability, property management, marketing, and leasing. The firm also administers one of the industry's most proactive community impact programs to provide on-site support services to residents.

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REAL ESTATE TECHNOLOGY

EY announces alliance with Planon to help businesses optimize real estate, digital workplace and lease accounting programs

EY | July 21, 2022

The EY organization today announces an alliance with Planon, a market leading smart sustainable building management solution provider, and EY Advisory Netherlands LLP (EY Netherlands), to help businesses optimize their real estate and workplace strategies in achieving growth, long-term value and sustainability. The alliance has been activated in the Netherlands and the US with additional global expansion planned over time. As corporate offices play an enormous role in reaching a net-zero future, real estate managers are under increasing pressure to be transparent about the energy and sustainability performance of their building portfolios and to identify areas for improvement. The EY-Planon Alliance brings clients options for a seamless experience to fulfil their real estate and digital workplace needs with a focus on innovative technology and efficacy in implementation. This alliance supports client efforts to navigate the increasingly complex digital workplace, smart building and workplace experience arena with actionable and meaningful insights from the EY organization, combined with Planon's integrated workplace management solution (IWMS) and internet of things (IoT) platform. As leaders in the real estate consulting and technology marketplace, EY teams bring deep knowledge of real estate, workplace and facilities, and extensive experience in lease accounting and software implementation across a global footprint. Through the alliance offerings, clients will also be supported to meet compliance with lease accounting standards and create greater efficiency in portfolio management and process quality, which measurably helps reduce costs and contributes to the organization's overall performance. Bernd Kramer, EY Global Planon Alliance Leader, says: "The EY-Planon Alliance brings together the digital tools, systems and implementation experience of EY teams and Planon to support organizations seeking a comprehensive solution depot to reshape their real estate and facilities digitally. The alliance helps reduce the complexity arising from independent siloed systems through unified integrated platforms, helping organizations make better decisions, and act quickly and sustainably to develop a future-ready workplace." "Planon is thrilled to collaborate with the EY organization to leverage their experience in real estate and business consulting, their in-depth knowledge of the IWMS landscape and their thought leadership to help our clients achieve a healthy, efficient and sustainable workplace. As global leaders in our respective fields, the EY organization and Planon make a powerful team that will continue to help drive adoption of leading technologies for real estate and facility management, and add value for clients." Pierre Guelen, Founder and CEO of Planon About EY EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. About Planon Planon is the leading global provider of Smart Sustainable Building Management software that connects buildings, people and processes. By eliminating data silos and aligning solutions into one shared information platform, Planon provides all building stakeholders with actionable and meaningful insights. Independent market research and consulting firms have consistently rated Planon as a global leader in the market. Planon has implemented its comprehensive solutions for more than 2,500 clients, supported by offices and partners around the world.

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