REAL ESTATE TECHNOLOGY
prnewswire | October 26, 2020
Matterport today announced a partnership with Singapore's largest international real estate agency, ERA Singapore (ERA), to enable its more than 17,300 real estate agents an easy and cost-effective way to capture 3D virtual tours of properties. With Matterport, ERA will gain a competitive edge in securing exclusive listings and accelerating the marketing of their clients properties.Since its inception in 1982, ERA has been the leading PropTech agency in Singapore, equipping its agents with the most advanced technologies in the industry. Virtual home viewings have become an increasingly important tool for agents who want to continue helping home buyers find their next home safely.
REAL ESTATE INVESTMENT
JLL Income Property Trust | May 04, 2022
Premier institutionally managed, daily NAV REIT announced it has secured of $1 billion credit facility. The facility has a revolving line of credit of $600 million and an accordion-feature term loan of $400 million. The credit facility syndicate features some of the most prominent lenders, including Bank of America, N.A., Capital One, National Association, PNC Capital Markets LLC, and Wells Fargo Securities, LLC, as Co-Syndication Agents, Joint Lead Arrangers, and Joint Bookrunners. It is led by JPMorgan Chase Bank, N.A. as Administrative Agent.
We appreciate the recognition by these nine major financial institutions of our investment strategy, the growth and quality of our portfolio, and our investment performance track record. This expanded facility supports our growth ambitions and increases our financial flexibility."
Allan Swaringen, President, and CEO of JLL Income Property Trust
HOME AND DESIGN
Pacaso | November 26, 2021
Pacaso, the leading real estate platform that helps people buy and co-own a luxury second home, announced that it has expanded its service to Santa Barbara, California. The company has begun hiring a regional team and is working with a variety of local businesses to support its operations.
"We're thrilled to be expanding our service into Santa Barbara, Known for its beautiful beaches and gorgeous Mediterranean-style homes, along with the backdrop of the Santa Ynez Mountains, Santa Barbara has long been a dream destination for buyers. However, many are left waiting on the sidelines due to escalating prices and a lack of homes for sale. With Pacaso, people looking to purchase a second home here now have a new solution. A small group of families can up-level their buying power through co-ownership of a luxury home. Not only does this make more efficient use of housing stock, but it also redirects second home buyers away from the mid-tier market, freeing up that inventory for local primary homebuyers."
- Pacaso CEO and co-founder, Austin Allison.
"Working with the Pacaso has been a pleasure, and it's obvious to me that the Pacaso team has a passion for their business, and goes above and beyond for their customers, Pacaso brings something new to the table: they only purchase luxury homes in second home destinations, and because they offer up to eight shares of ownership per home, their model actually helps increase inventory in the area."
- Sotheby's International real estate agent Tyler Mearce.
Pacaso partners with all interested real estate agents and brokerages in markets where it operates. Real estate agents representing buyers who purchase a share of a Pacaso home receive a 3% referral commission in addition to 500 RSUs of Pacaso stock as a referral equity bonus. Agents in Santa Barbara who are interested in working with Pacaso can learn more on the company's website.
Pacaso's first listing in the area is a contemporary four-bedroom situated in the hills of Santa Barbara that features stunning ocean, harbor, and mountain views.
Pacaso® (pronounced like "Picasso") modernizes the decades-old practice of co-ownership by creating a marketplace that makes buying, owning, and selling a luxury second home easy. From curating the best listings in top second home markets to offering integrated financing and sales from as little as ⅛ to as much as ½ ownership; upscale interior design; and professional property management, Pacaso provides owners with all the benefits of owning a second home with less hassle. After purchase, Pacaso manages the home on an ongoing basis and supports a frictionless resale process in partnership with a licensed real estate professional.