REAL ESTATE TECHNOLOGY
Inhabit IQ | August 28, 2021
Inhabit IQ®, a unique collective of tech-forward products serving the residential, commercial and vacation rental management industries, and ResMan®, a leading property management SaaS platform provider, today announced that Inhabit IQ has added ResMan to its suite of solutions for multifamily and commercial property management. Terms of the transaction were not disclosed.
ResMan offers an industry-leading property management platform that helps residential and commercial real estate managers operate more efficiently, thereby benefitting residents, managers and owners. The company's technologies provide end-to-end visibility into both front- and back-office operations, including accounting, budgeting, maintenance, reporting, and end-to-end leasing, among other unique capabilities.
This transaction will give Inhabit IQ a core residential-focused property management solution, while further expanding Inhabit IQ's presence in the affordable housing market. Inhabit IQ's market-leading ancillary product offerings covering payments, screening, insurance, utility billing, document management, inspections, facility maintenance and learning management are highly complementary with ResMan, and the combination will enable the company to meet the evolving needs and priorities of property management companies. The platforms of both Inhabit IQ and ResMan will remain open to partnerships with other solutions providers, allowing customers the choice of best-in-class providers to manage and optimize performance.
"We admire the quality of ResMan's products, team and customer-centric approach. With ResMan's industry-leading technology platform, we will have a full suite of solutions that allow property managers for residential, commercial and vacation rental properties to seamlessly operate their businesses either exclusively with Inhabit IQ and ResMan or in partnership with other providers," said Lisa Stinnett, CEO of Inhabit IQ. "Providing customers with flexibility and access to best-in-class solutions have been the guiding principles for both our companies. We are excited to welcome the talented ResMan team to Inhabit IQ, and look forward to further accelerating innovation across our solutions as we offer a one-stop, industry-leading platform to our clients."
"We're excited to join forces with Inhabit IQ and take our company to the next level as part of a premier and differentiated platform of leading property management solutions and services," said Paul Bridgewater, CEO of ResMan. "In recent years, we have successfully scaled our customer-first service model and expanded the reach of our software platform to new segments of the industry. Inhabit IQ's industry knowledge and collaborative approach with fast-growing tech companies make them the ideal partner to create a true industry-leading offering."
"We are proud to have supported ResMan's growth and expansion as the company takes this exciting next step in their journey," said Gavin Turner, Managing Partner at Mainsail Partners, ResMan's growth equity partner prior to today's transaction. "Since our investment in 2017, ResMan has experienced strong organic growth as a result of key investments in people, innovation and technology, as well as transformative growth from several add-on acquisitions. We are confident ResMan will continue to accelerate its momentum and provide clients with an even stronger offering as part of Inhabit IQ. We look forward to watching their continued success."
ResMan's headquarters will remain in Plano, Texas, and the Company will continue to be led by Paul Bridgewater and its current senior leadership team.
Weil, Gotshal & Manges LLP served as legal advisor to Inhabit IQ. Harris Williams LLC served as financial advisor to ResMan.
ResMan is the preferred growth partner that drives profitability and efficiency for nearly a thousand property management companies across the U.S. ResMan delivers the property management industry's most innovative technology platform, making property investments and operations more profitable and easier to manage. ResMan's platform unlocks a new path to growth for property management companies that deliver consistent NOI improvement and brilliant resident experiences easier than ever before.
About Inhabit IQ
Inhabit IQ is a unique collective of tech-forward companies serving the vacation and property management industries. Its strategic partnerships deliver best-in-class software solutions and services while fostering innovation and collaboration with like-minded entrepreneurs and industry leaders. The company believes that property managers should have the opportunity to choose platforms that best support their business goals and benefit from strategic partnerships across their ecosystem. Inhabit IQ has several private equity partners, including Goldman Sachs Asset Management, Insight Partners, Greater Sum Ventures and PSG, that are committed to helping support the Company's commitment to property management software innovation.
About Mainsail Partners
Mainsail Partners is a growth equity firm with offices in San Francisco and Austin that invests exclusively in fast-growing, bootstrapped software companies. The firm has raised over $1.3 billion and invested in more than 50 growing companies since 2003. Mainsail prioritizes investments in B2B software companies with compelling business models in growing markets. The firm's approach to driving value creation is anchored in a dedicated Operations Team that is purpose-built to help founders scale their businesses and accelerate growth. These women and men include former software company operators who leverage real-world experience, well-established best practices, and a true partnership ethos to support management teams.
REAL ESTATE INVESTMENT
VENTERRA REALTY | December 20, 2021
Venterra Realty has purchased The Villages at Oakleaf, a 512-unit, garden-style multifamily, located within the Oakleaf Plantation master-planned community and consisting of Gemstone, Fieldstone, Cobblestone, and Village at Oakleaf Plantation in suburban Jacksonville, Florida.
The Villages at Oakleaf was built in five different phases between 2008 and 2018. It is the only apartment community in Oakleaf Plantation, giving it unique access to the centralized multi-million-dollar community recreational amenity center, which includes swimming pools, a water park, picnic areas, sports fields, tennis courts, basketball courts, and indoor fitness centers
Located in Clay County, an area known to have a superior school system, the community provides a desirable living choice for families. With the presence of large unit sizes and many floorplans offering 3- and 4- bedroom options, as well as many kid-friendly amenities including a playground, The Villages at Oakleaf can provide families with an exceptional living experience. All three schools to which The Villages at Oakleaf are zoned are highly rated and within walking distance.
We are pleased to announce the acquisition of these premier assets and add another high-quality property to our Florida portfolio,Demand for family-centric rental options is strong in today's housing market. The Villages at Oakleaf stood out to our acquisition team due to its extensive amenity package across the property sure to appeal to all types of renters, with families at the forefront."
John Foresi, Venterra CEO
Jacksonville was ranked as the fastest-growing Florida city by the U.S. Census Bureau in 2020, ranking 9th in the country in terms of highest in-migration in the U.S. Before the pandemic, Jacksonville averaged 2.6% annual job growth between 2011 and 2019, compared to the U.S. average of 1.7% for the same period. The Jacksonville MSA is one of only a handful of major markets in the country that has recovered all jobs lost during the pandemic.
Jacksonville's booming population and demand was a key driver in this acquisition, We look forward to optimizing the operations at this community, creating value for our investors, and providing an exceptional living experience for residents of Jacksonville."
Venterra Chairman, Andrew Stewart.
Venterra will implement its resident-focused programs such as the Live it. Love it. Guarantee.™, the 48-Hour Maintenance Guarantee, SMARTHUB, as well as their overall commitment to providing a world-class living experience for which Venterra has become known.
Founded in 2001, Venterra Realty owns and manages approximately 70 communities and more than 20,000 apartment units across 13 major US cities that provide housing to over 40,000 people and 12,000 pets. The organization has completed $7.2 billion in real estate transactions and currently manages a portfolio of multi-family real estate assets valued at approximately $4.0 billion. Venterra is committed to improving the lives of its residents by delivering industry-leading customer experience.
propertyfundsworld | August 24, 2020
Commercial Ground Rents: investment opportunity in a time of adversity says commercial ground rents, which are financing structures whereby a real estate owner or acquirer sells the freehold land to an investor and simultaneously agrees a long-term (generally over 75 years) lease with them to continue using a real estate asset, is the fastest growing segment of the long income real estate market, and that over the past five years the sector has grown from virtually nothing to around GBP4 billion in size, with around GBP1.5 billion of new deals completed in 2019 alone.