REAL ESTATE INVESTMENT
Bell Partners | December 21, 2021
Bell Partners Inc., one of the nation's leading apartment investment and management companies, today announced it has acquired Routh Street Flats, a 208-unit apartment community located in Dallas, Texas. The property, to be renamed Bell Katy Trail, was acquired on behalf of a separate account venture between Bell Partners and HANSAINVEST Real Assets GmbH, a leading institutional investment firm based in Hamburg, Germany.
Located in the heart of Uptown Dallas, Bell Katy Trail offers residents access to dining, entertainment, shopping, and recreation opportunities. Bell Katy Trail is minutes from the West Village, a premier shopping and dining center, putting residents within walking distance of grocery and retail needs. The property is also near popular cultural and recreation spots, including the Arts District, Katy Trail and the Turtle Creek Greenbelt. Bell Katy Trail is also a short walk from the McKinney Avenue Trolley, connecting the property to a range of destinations in the city.
Completed in 2015, Bell Katy Trail features a mix of studio, one- and two-bedroom units. Common area amenities include a rooftop terrace with a fire pit and views of the city, an infinity saltwater pool and a fitness center. Apartment interiors include granite surfaces, stainless appliances and full-size washers and dryers.
As apartment residents increasingly seek well-located housing offering convenient, walkable access to employment, retail and cultural offerings, the acquisition of Bell Katy Trail reflects Bell Partners' targeted investment in urban submarkets like Uptown, With approximately 70,000 units currently under management, including over 7,700 units in Dallas, we will leverage our local experience and extensive operating platform to maximize performance."
Nickolay Bochilo, EVP of Investments at Bell Partners.
Bell Katy Trail follows the company's acquisition in August of Bell CityLine, a 435-unit community located in the Dallas suburb of Richardson. In June, Bell Partners acquired Lenox Springs and Lenox Meadows in Austin, merging operations with an existing Bell property, Bell Southpark, to form a combined 949-unit multifamily community. The company has completed $4.8 billion in transactions in 2021 and is actively investing in 14 target U.S. markets located in the Northeast, Mid-Atlantic, Southeast, Texas and West Coast.
About Bell Partners Inc.
Established in 1976, Bell Partners Inc. ("Bell Partners" or the "Company") is a privately held, vertically integrated apartment investment and management company focused on high-quality multifamily rental communities throughout the United States. With approximately 70,000 units under management, Bell Partners is one of the largest apartment operators and renovators in the United States. The Company has over 1,600 associates and ten offices (including its headquarters in Greensboro, N.C.) and offers an extensive and full-service platform containing expertise in acquisitions and dispositions, construction, financing, property operations, accounting, risk management, and all other related support functions. Bell Partners is led by a senior management team with an average of over 20 years of experience that has invested throughout all phases of the real estate cycle and has helped the Company complete over $22 billion of apartment transactions since 2002.
About HANSAINVEST Real Assets
HANSAINVEST Real Assets GmbH stands for long-term experience and sustainable investments in the real estate and infrastructure sector. In total, more than 90 employees manage assets of over EUR 6.6 billion. In the real estate segment, the internationally positioned experts manage office, retail, hotel, logistics and residential properties in 19 countries. In addition to portfolio management, the areas of acquisitions and sales, asset management and project development are also covered. In the infrastructure segment, the international portfolio of infrastructure investments is managed with a volume of more than EUR 1.1 billion. Other services include the acquisition of assets and continuous portfolio management.
REAL ESTATE TECHNOLOGY
Algofi | March 17, 2022
On March 16th, Y Combinator Accelerator backed companies Algofi and Lofty announced a partnership which will allow people to use Algofi’s stablecoin $STBL as collateral for buying fractional ownership in real estate.
For the first time in history, people will be able to use cryptocurrency to buy ownership in real estate investments in the form of tokens. The partnership represents a ground-breaking development in the Algorand blockchain ecosystem and the world of cryptocurrency.
Owen Colegrove, Core Developer at Algofi, said, "Algofi is excited to see continued growth in the adoption and utility of STBL, the protocol's decentralized stablecoin. With this exciting partnership, users will be able to leverage their cryptocurrency as collateral to invest in real estate offered by Lofty."
This partnership is huge for the entire crypto community because it's the first time in history that people can use crypto as collateral to buy real investment properties. The future is here."
Max Ball, COO at Lofty
REAL ESTATE TECHNOLOGY
AppraisalWorks | August 25, 2021
AppraisalWorks, a leading provider of real estate appraisal technology, today announced innovations to its flagship appraisal management technology platform.
The AppraisalWorks™ platform is designed to streamline the real estate appraisal process, helping lenders and servicers achieve lower costs, faster turn times and greater transparency. The technology platform is patented under U.S. Patent 10,635,999.
The latest enhancements to AppraisalWorks further automate key elements of the appraisal management process – including quote management tools for residential and commercial real estate assignments, providing direct connectivity to the Encompass LOS platform and delivering a platform for paying appraisers electronically. Benefits of these three capabilities include:
Appraisal Quoting - AppraisalWorks now provides a flexible, highly configurable system for managing quotes for appraisal assignments with commercial appraisal firms and individual appraisers providing lenders with greater automation, real-time monitoring, status-driven alerts, and a detailed audit history. Elimination of manual tasks accelerates the process and provides increased transparency.
Automated Appraiser Payment Module – With AppraisalWorks, lenders can easily initiate and track ACH, manual and credit card payments on all appraisal orders as well as the agreed upon vendor fees. Support for batch payments enables straight-through processing for increased efficiency. Faster payments to appraisers provide a strategic advantage in attracting the best talent for each appraisal order. In addition, credit card processing is tracked on the order and individual transaction level, providing real-time insight into payment status and the ability to customize the borrower payment experience. With AppraisalWorks, lenders can reduce payment processing workload by up to 70%, while also improving appraiser and borrower relationships.
Encompass LOS Connectivity – The seamless integration between AppraisalWorks and Encompass allows lenders to order, assign, monitor, and review real estate valuations, from a marketplace of AMCs and appraisers, directly through the Encompass Digital Lending Platform – driving quality and efficiency in the loan origination process and standardizing the vendor and borrower experience. AppraisalWorks is one of the first appraisal management platforms to offer direct connectivity through Encompass’ new APIs eliminating administrative overhead and accelerating turn times.
AppraisalWorks is designed to be collaborative – bringing together all stakeholders in the appraisal process to improve efficiency, turn times and accuracy. Lenders, borrowers, processors, appraisers and the quality control team benefit from real-time communications, on-demand access to appraisal information and complete transparency throughout the appraisal process.
“As lenders and servicers look for an edge in accelerating appraisal turn times, efficiency and cost reduction are critical, as is the need to maintain strong security and compliance practices,” said Mike Cullen, CTO of AppraisalWorks. “The AppraisalWorks technology platform helps streamline appraisal processes, improve adherence to compliance regulations and lower costs – while also providing a better borrower experience. Our customer-centric approach to continuous technology innovation makes AppraisalWorks a top choice for lenders and servicers who are looking for greater efficiency and a strategic advantage.”
AppraisalWorks is a cloud-based appraisal management technology platform that enables banks, credit unions, loan servicers and mortgage lenders to order, manage, maintain, and analyze real estate appraisals and collateral valuations. Through its Community and Enterprise versions, AppraisalWorks improves process efficiency, ensures regulatory compliance, and facilitates collaboration among lenders, borrowers, processors, appraisers, and the quality control team – significantly improving loan turnaround time, reducing cost per loan, and enhancing the borrower experience. AppraisalWorks is patented under U.S. Patent 10,635,999.