REAL ESTATE TECHNOLOGY
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.
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.
REAL ESTATE INVESTMENT
Capital Square | August 23, 2022
Capital Square, one of the nation's leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced today the acquisition of Rivergate, a luxury 402-unit multifamily community in the Washington, D.C. suburb of Woodbridge, Virginia. The community was acquired on behalf of CS1031 Rivergate Apartments, DST.
"I thought it could not get any better than the acquisition of Class A+ 2000 West Creek in 2019 for $103 million for Capital Square's 1031 exchange/DST program, but then we continued to acquire a large portfolio of comparable Class A+ apartment communities and, now, Rivergate Apartments in Woodbridge, Virginia, These Class A+ acquisitions perfectly fit the DST acquisition strategy of buying best in class multifamily assets for stable returns and capital appreciation. The acquisition of best-in-class assets demonstrates the maturation of the DST industry."
-Louis Rogers, founder and chief executive officer of Capital Square
Located at 13175 Marina Way, along the picturesque Occoquan River in the Potomac River basin, Rivergate is in a scenic area with excellent community amenities that include a resort-style swimming pool and sundeck, a rooftop terrace with cabanas, outdoor sofas and a bar, a courtyard with a firepit, gas grilling stations, a state-of-the-art fitness center, two resident clubrooms, a business center, a paw spa with a self-service wash and grooming suite, a volleyball court, kayak and bicycle storage, a multi-level parking garage, a package concierge, on-site management and maintenance and controlled access.
The Greater Washington, D.C. and Northern Virginia economy has experienced consistent growth and diversification over the past several years, supported by the federal government and largely devoid of highly cyclical industries. The area is home to several international companies, including Amazon, Booz Allen Hamilton, Capital One Entities, Freddie Mac, GEICO, Hilton Worldwide Holdings, Inc., Marriott International and Northrop Grumman.
Rivergate is ideally located in a thriving economic sector of Northern Virginia that continues to enjoy significant employment growth and will soon welcome Amazon, which will open its second global headquarters nearby in 2023, The Amazon facility is just 20 miles from Rivergate and is expected to employ 25,000 people. Amazon joins a host of other major international companies that call the region home,said Whitson Huffman, chief strategy and investment officer.
Rivergate is just four miles from both the 183-bed Sentara Northern Virginia Medical Center and a new, $200 million Kaiser Permanente medical center. Together, these employers support approximately 1,500 workers.1
Potomac Mills, Virginia's largest enclosed outlet shopping and dining destination with more than 200 storefronts and restaurants, is just five miles from Rivergate. Stonebridge at Potomac Town Center, a 500,000-square-foot open-air lifestyle center, is just six miles from the property. Stonebridge features a Wegmans Food Market, full-service health club, Alamo Drafthouse Cinema, and a splash pad water park for children. Rivergate residents enjoy ready access to both Ronald Reagan Washington National Airport, situated 20 miles northeast of the property, and Dulles International Airport, located 30 miles to the northwest.
CS1031 Rivergate Apartments, DST seeks to raise $46.5 million in equity from accredited investors and has a minimum investment requirement of $50,000.
Since its founding in 2012, Capital Square has acquired 153 real estate assets for over 6,000 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable cash flow and capital appreciation.
About Capital Square
Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges, qualified opportunity zone funds for tax deferral and exclusion and a real estate investment trust (REIT). In recent years the company has become an active developer of mixed-use multifamily properties in the southeastern US, with eight current projects totaling approximately 2,000 apartment units with a total development cost in excess of $600 million. Since 2012, Capital Square has completed more than $6.0 billion in transaction volume. Capital Square's related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high-net-worth investors, private equity firms, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for six consecutive years. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense's list of fastest growing companies. Additionally, Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" report in 2019 and their "Fantastic 50" reports in 2019 and 2020.
REAL ESTATE INVESTMENT
Cantor Fitzgerald | July 29, 2022
Cantor Fitzgerald Income Trust, Inc. ("CF Income Trust"), a non-traded real estate investment trust and affiliate of Cantor Fitzgerald, L.P., announced today the completion of more than $118 million in real estate-related transactions since the beginning of 2022. As of June 30, 2022, the portfolio exceeds 6.9 million square feet1 with total assets controlled of $1.05 billion.2 Chris Milner, President of CF Income Trust, stated, "We have been active, thus far in 2022, and continue to execute on our high conviction themes of acquiring well-located multifamily properties and net lease assets with strong tenants."
Recent acquisitions include:
Eisai Inc. North American Headquarters – Nutley, New Jersey – Class-A Office
On April 22, 2022, CF Income Trust, through a joint venture with a subsidiary of Cantor Fitzgerald Investors, LLC, indirectly acquired 10% of the interests in a Delaware Statutory Trust that purchased a 15-story, 332,000 square foot Class-A office tower located in Nutley, New Jersey. The property is leased to Eisai Inc. and serves as the North American headquarters for Eisai Co., Ltd. ("Eisai"), a Japan-based global pharmaceutical company.
The property was most recently renovated in 2021 and is designed to nurture the company's hybrid flexible working model, which allows for collaboration and interaction among colleagues. Additional features include a 405-seat auditorium, private outdoor garden, and amenity area. "The property is located within the master planned ON3 life sciences campus, an area that will ultimately include 1.4 million square feet of office/R&D/medical space, multifamily residential, retail amenities, a full-service hotel, and significant green space," said Roger Shreero, Managing Director, Cantor Fitzgerald. "This newly renovated, high-quality asset is a great addition to the portfolio and is a centerpiece within the growing life sciences landscapes of the Nutley and Clifton townships."
Landings of Conroe, Conroe, Texas – Multifamily
CF Income Trust, through a joint venture with an affiliate of CAF Management, LLC, acquired a 200-unit multifamily property located in Conroe, Texas.
Built in 2005, the property features one-, two-, and three-bedroom apartment home floor plans with amenities including a clubhouse, 24-hour fitness center, swimming pool, picnic and grilling area, sport court, dog park, and gated access.
"The area has seen significant growth in recent years due to corporate expansions by ExxonMobil, HPE, HP Inc., and ABS in neighboring The Woodlands and Springwoods Village," said Matt Keefer, Managing Director, Cantor Fitzgerald. "Housing demand continues to rise and the property is in a position to benefit from that demand."
Mars Petcare - Columbus, Ohio - Cold Storage Warehouse
CF Income Trust, Inc., through a wholly owned subsidiary of its operating partnership, acquired a 465,256 square foot cross-dock dry/cold storage facility in Columbus, Ohio. The property is 100% leased to Mars Petcare, U.S. Inc., the domestic segment of Mars' global pet care business. Located adjacent to Mars Petcare's primary production facility, the property features 168,245 square feet of freezer space, LED lighting, 30' clear heights, 27 dock doors, two drive-in doors, 212 car spaces, and 100 trailer spaces on a 21.6-acre site.
"We are pleased with the performance and growth of CF Income Trust, We remain focused on adding well-located properties with predictable income streams to our defensively positioned portfolio. Our ability to be selective in today's market is key to our success."
Jay Frank, President, Cantor Fitzgerald Asset Management
About Cantor Fitzgerald Income Trust, Inc.
Cantor Fitzgerald Income Trust, Inc. is a publicly registered, non-traded, monthly-valued perpetual NAV real estate investment trust (REIT) that owns and manages a diversified portfolio of institutional quality, income-producing commercial real estate including apartments, industrial, office, and necessity retail properties located in the United States
About Cantor Fitzgerald, L.P.
Cantor Fitzgerald, with over 12,000 employees, is a leading global financial services group at the forefront of financial and technological innovation and has been a proven and resilient leader for over 77 years. Cantor Fitzgerald & Co. is a preeminent investment bank serving more than 5,000 institutional clients around the world, recognized for its strengths in fixed income and equity capital markets, investment banking, SPAC underwriting and PIPE placements, prime brokerage, and commercial real estate, and for its global distribution platform. Cantor Fitzgerald & Co. is one of the 24 primary dealers authorized to transact business with the Federal Reserve Bank of New York. Cantor Fitzgerald is a leading SPAC sponsor, having completed multiple initial public offerings and announced multiple business combinations through its CF Acquisition platform.