REAL ESTATE TECHNOLOGY
prnewswire | December 30, 2020
Blox Ventures, LLC, a Silicon Valley-based speculator and land administrator, and worldwide elective speculation firm Angelo Gordon reported today the offer of 2100 El Camino, College Terrace's First Republic Center in Palo Alto. The property is secured by First Republic's territorial office center and most as of late added Real Produce International Market, a claim to fame merchant, to its 11,000-square-foot retail space. The association attempted to guarantee long haul leases with its tenure for the future accomplishment of the property and the organizations.
"Blox Ventures and our joint venture capital partner, Angelo Gordon, are pleased with the sale of this property which, under the stewardship of its new owner, a global investment company, will continue to thrive as a strong component of the neighborhood," said Blox Ventures CEO Jason Oberman. "It has always been our goal to thoughtfully improve this asset to best serve the community and ensure the buyer shares the same commitment."
Blox Ventures and Angelo Gordon obtained the property in July 2018 after development was finished in 2017. Following the property procurement, the association finished the rent up, remembering the local center point for First Republic for Silicon Valley, whose workplaces – situated over the retail space – involve 76% of the structure. The organization likewise rented the property to neighborhood organizations, including a boutique food merchant and music gathering. The First Republic Center is set up now as one of only a handful few properties in Palo Alto's retail center that possess a full city block, profits by its closeness to the zone's key development habitats, is nearby Stanford University, and not exactly 50% of a mile to a Caltrain rail station.
The 2100 El Camino property is one of four late properties in which Blox has put resources into the prime business sectors of Palo Alto and Sand Hill Road.
About Blox Ventures
Blox Ventures, based in Silicon Valley, is a privately owned real estate investment firm focused on buying, renovating, and operating commercial properties. Blox Ventures' principals have acquired and disposed of over 6 million square feet of real estate valued at over $3 billion. Blox Ventures has worked with the area's leading technology companies on their innovation spaces and campuses.
About Angelo Gordon
Angelo, Gordon & Co., L.P. ("Angelo Gordon") is a privately held limited partnership founded in November 1988. The firm currently manages approximately $41 billion with a primary focus on credit and real estate strategies. Angelo Gordon has over 500 employees, including more than 200 investment professionals, and is headquartered in New York, with associated offices elsewhere in the U.S., Europe, and Asia.
REAL ESTATE TECHNOLOGY
Walker & Dunlop, Inc. | November 16, 2021
Walker & Dunlop, Inc. announced the launch of a new digital lending platform powered by machine learning to dramatically grow its small balance multifamily lending business.
"Multifamily investors want a faster and more transparent borrowing experience, That's why we asked our data scientists and engineers to automate loan sizing and pricing. We created a more efficient process for investors to review financing options, tailor them to their projects' needs, and monitor the loan process with dramatically more transparency – all through our custom-built technology."
- Walker & Dunlop Senior Vice President and Chief Production Officer Alison Williams.
Walker & Dunlop's small balance technology platform brings the following advantages:
Streamlined lending experience that automatically generates quotes in minutes utilizing predictive algorithms and property cash flows
Interest rate and property value calculations using proprietary data on real-time rents, expenses, and sales comparables
Greater transparency of loan terms from quote to close
Walker & Dunlop will continue to accelerate the growth of its small multifamily loan platform by automating underwriting processes, expanding its brand as the premier multifamily lender in the U.S., and combining its best-in-class people with best-in-class technology to deliver the best financing experience to our clients.
Walker & Dunlop is the top provider of capital to the U.S. multifamily market, originating $31 billion in transactions and financing over $24 billion of multifamily properties in 2020. The company is also a top-ranked Agency lender and was named the #1 Fannie Mae DUS® Lender and #4 Freddie Mac Optigo® Lender in 2020. Walker & Dunlop's dedicated team has experience with all loan types within the small multifamily loans space, including Freddie Mac Small Balance Loans and Fannie Mae Multifamily Small Loans, which provide financing for different property types, such as market-rate properties, mixed-use properties, and manufactured housing communities (MHC).
Multifamily loans under $10 million in size accounted for $80 billion in total loan volume in 2020 and 22% of all commercial mortgage originations. This fast-growing market is highly fragmented with more than 3,000 capital providers. Walker & Dunlop is using its people, brand, and technology to scale rapidly and grow market share in this exciting market.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is the largest provider of capital to the multifamily industry in the United States and the fourth largest lender on all commercial real estate including industrial, office, retail, and hospitality. Walker & Dunlop enables real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology make us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With over 1,000 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.
REAL ESTATE INVESTMENT
Dynamic City Capital | February 08, 2022
Dynamic City Capital (DCC), a Utah-based real estate investment firm focused on acquiring and developing premium-branded hotels, announced the acquisition of the Hyatt Place San Francisco Downtown. The transaction was completed on January 28 and is the company's first acquisition of 2022. The hotel's premium corner location is less than a half-block from Oracle Park, home of Major League Baseball's San Francisco Giants.
The Hyatt Place San Francisco Downtown is an excellent addition to our portfolio. The brand, market, and specific location fit our strategy to acquire best-in-class hotels in prime markets, We are thrilled to make this acquisition and look forward to our 2022 pipeline of opportunities."
Ryan Phelps, DCC's Chief Investment Officer.
The twelve-story hotel features 230 guest rooms, 4,300 square feet of retail space, a lobby bar, and a 24/7 market. The Hyatt Place is between the lively South of Market (SoMa) and Mission Bay neighborhoods known for world-class dining, museums, and business. Nearly adjacent to Oracle Park, it is also within walking distance of Chase Arena, home to the NBA's Golden State Warriors, and the Moscone Convention Center. In addition, public transportation, including light rail and Caltrain, is within a city block, providing access to all that San Francisco offers. The hotel opened in January 2019.
This purchase early in 2022 continues the pattern of dynamic growth exhibited by the acquisition of seven properties across the US in 2021.
About Dynamic City Capital
Dynamic City Capital (DCC) is a privately held real estate investment and asset-management firm with three decades of experience in hospitality. During its 30+ year history, DCC has placed hundreds of millions of dollars of capital on behalf of its investment partners. After opening the first Marriott® franchised hotel in the state of Utah in 1991, DCC has been involved in the development, acquisition, and management of hotel assets throughout the United States, representing the premium-branded hotel families of Hilton®, Hyatt, IHG®, and Marriott®.