Real Estate Technology

Tower 16 Capital Partners in Tucson, Arizona Acquires Sierra Vista Apartments

prnewswire | December 01, 2020

San Diego-based Tower 16 Capital Partners, in organization with Drake Real Estate Partners, has obtained Sierra Vista Apartments, a 258-unit multifamily venture in Tucson, Ariz. The property was gained from a private vender in an off-market exchange.

Since its establishing in 2017, Tower 16 has taken comparable actions into business sectors all through the west, having gained more than 4,000 units in California, Las Vegas, Phoenix and Denver. The organization looks for business sectors with expanding interest for labor force lodging driven by work development and in-movement however with moderately low degrees of new gracefully. As indicated by organization chiefs, Tower 16 plans to fabricate an arrangement of more than 1,000 units in the Tucson market.

Sierra Vista Apartments is situated at 3535 N. First Avenue in Tucson, Ariz. The property is minutes from the I-10 turnpike and a little ways from Downtown Tucson and the University of Arizona grounds. The people group comprises of one-, two-and three-room condos with a huge clubhouse, exercise center and two pools. Pinnacle 16 will administer near $4 million in overhauls and remodels to the property including modernized unit redesigns, another clubhouse, exercise center and refreshed pool territories. The organization will likewise be adding outside civilities including grills, seating and open air gaming regions.

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Real Estate Technology, Real Estate Investment

Covius Announces New Digital Home Equity Title Solution With Pre-Screening Component for Banks and Credit Unions

PRnewswire | July 12, 2023

Covius, a leading provider of technology-enabled solutions to the financial services industry, announced today that its Settlement Services division has introduced a new home equity decisioning solution that significantly accelerates the origination process and gives lenders early insight into property and/or borrower issues that could expedite or delay decisions. The Covius Home Equity Solution will allow bank and credit union clients to offer a streamlined origination experience to their home equity customers. For example, title and tax reports that used to take 3 or more days are now delivered in hours on a majority of loans, enabling closings to occur in as fast as 5 days, as opposed to the industry average of 20-plus days. The new solution also features Covius Loanscape, a separate point-of-sale component for lenders that provides critical property and consumer insights in fewer than 45 seconds. This report reveals title, valuation and credit information that enhances a lender's loan origination workflow, coupled with expedited decisioning and abbreviated closing timelines. The Covius Home Equity Solution is fueled by Flueid's leading title data and decisioning platform, Flueid Decision, as an expansion of the companies' integration announced in February 2023. Joe Chappell, Executive Vice President of Operations at Covius, said, "The demand for home equity products is extremely strong, but the competition for this business is intense. Our new solution[s] enable clients to differentiate themselves by delivering a modern, streamlined customer experience, beginning at point-of-sale and continuing throughout the underwriting and closing processes. "In seconds, Covius Loanscape allows lenders to determine if the loan qualifies for an expedited clear-to-close. Sharing this information at the point of sale empowers lenders to set borrower expectations more accurately, better prioritize orders and improve overall pipeline performance. Likewise, lenders will know that a lead on a property will not meet criteria before ordering full credit, valuation or other third-party products, and having underwriters spend days on an application that will be declined. This is especially valuable with home equity origination, where many costs are absorbed by the lender." About Covius Covius is a trusted provider of services, insight and technology to leading financial companies. Covius' technology-enabled solutions deliver operational efficiencies, mitigate risk and empower compliant decisions and borrower interactions. Covius businesses are recognized leaders in loss mitigation, document and data solutions, title and settlement services, compliance and critical borrower communications, lien release tracking and preparation, HOA tracking, quality assurance, REO asset management and auction services, credit reporting and verification, capital markets due diligence and oversight, insurance policy analysis as well as rapid-development, customizable cloud-based business process solutions. The company was named a 2023 HousingWire Tech100 winner. For more information about the company and its services, visit www.covius.com.

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Investments

Curbio Releases the Official Realtor's Guide to Pre-Sale Home Improvement

PR Newswire | August 29, 2023

Curbio, Inc., the leading pay-at-closing contractor solution for real estate agents, today announces the launch of its official Realtor's Guide to Pre-Sale Home Improvement. This free playbook is intended to be a resource for real estate agents as they navigate the home sale process. In today's competitive real estate market, buyers want move-in-ready homes, with 77% of buyers surveyed saying that they wouldn't consider a home that isn't move-in-ready. By offering a turnkey, pay-at-closing concierge service, agents can not only meet buyer demand for move-in-ready properties, but can also stand out from the competition to win listings. With 47% of agents surveyed reporting Curbio's fix first, pay when you sell service helped them win a listing, agents can grow their business and stand out from the competition when other agents are simply offering sellers the status quo. "Agents know that every home, regardless of age or condition, will benefit from pre-sale home improvements, but sometimes that can be a tricky conversation with sellers. And with the hot market over the last few years, truthfully, some agents didn't have to navigate the topic. But, that's no longer the case and pay-at-closing repairs and updates are more important than ever. We created this playbook to help agents navigate their conversations with data, expertise and confidence. Our goal here is to help agents shine in their listing appointments, providing them with the tools and information they need to win listings and get them market-ready successfully," said Olivia Mariani, Chief Marketing Officer at Curbio. Curbio's Guide to Pre-Sale Home Improvement provides a comprehensive overview of pre-sale home improvements for agents, with contents including: • The benefits of pre-sale home updates • Overview of the current market and common seller personas • Guide to pitching pre-sale improvements to win listings • List of the top ROI driven pre-sale updates • Listing walkthrough checklist • Guide for getting ahead of client concerns • Comprehensive overview of Curbio's solution and process Other resources available to agents from Curbio include an agent marketing toolkit, which features everything that agents need to share Curbio with their network, such as customizable social media templates and listing presentation slides. The playbook's release comes on the heels of news earlier this month announcing a US roadshow tour offering free seminars for real estate agents looking to level up their pre-sale home improvement expertise. About Curbio Curbio is the leading pay-at-closing contractor working with real estate agents to get homes ready for sale reliably and without hassle. Curbio has modernized home improvement with an easy-to-use mobile app and five-star project management team that streamlines project work and communication, while eliminating the delays and uncertainties that have made home improvement so frustrating, especially for agents and home sellers. Our turnkey approach and pay-when-you-sell model has made Curbio the most trusted contractor for real estate agents and brokerages nationwide, including eXp Realty, RE/MAX, HomeServices of America, Long & foster, and many more. Curbio operates in more than 60 real estate markets across the US.

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Real Estate Technology, Mortgage and Lending

Omega Realty Group Selects Rhino+ to Modernize Security Deposit Process

PRnewswire | July 28, 2023

Rhino, which pioneered security deposit insurance in 2017 and services a six-million-home partner network, today announced that Omega Realty Group is using the new Rhino+ platform to manage security deposits for renters. Rhino+ is the rental industry's first digital deposit platform that simplifies and modernizes the security deposit process, making renting easier, transparent and affordable. "Rhino has been a trusted partner for over three years, helping protect our thousands of rental units with security deposit insurance. With Rhino+, we now offer our renters the choice to use cash or insurance as part of their move-in experience," said John Ashley, Omega Realty Group. "We look forward to continuing our partnership with Rhino and delivering a digital experience to our residents, allowing them to move in seamlessly while protecting our assets." Leasing teams typically deal with physical deposit checks that must be brought to the bank and held in an escrow account. Property owners often have to track these payments in software platforms coded in the 80s that can't always be used on personal computers. Cash sits in escrow, inaccessible until the end of the lease. The process is required for every unit, taking up to 20 hours per month. "Rhino+ alleviates the headache of the traditional security process by giving owners and renters choices," said Ben Lantos, Rhino's CEO and co-founder. "Renters can transact digitally, which is their preferred method, and property owners save significant time on administrative tasks." For owners, Rhino+ effortlessly automates every step of the deposit journey, from viewing and managing security deposits, insurance policies, claims, properties and renters, all in a single platform. The solution streamlines operations, reduces complexity and improves efficiency. Rhino currently works with one-third of the Top 100 property owners in the U.S. Learn more at sayrhino.com. About Rhino Rhino was founded to give renters everywhere greater financial freedom to plan and enjoy their lives. In 2017, Rhino pioneered security deposit insurance, replacing cash deposits with smart, affordable insurance so renters can maintain control of their cash. Instead of a large upfront cash security deposit, renters pay Rhino a small fee, and Rhino insures the property owner for damages that might occur and lost rent. In 2022, Rhino launched an end-to-end deposit management and compliance platform, transforming how security deposits are administered. In addition, Rhino today also offers Renters Insurance, giving renters a simple and affordable way to purchase contents and liability insurance, which property owners often also require at move-in. Rhino is offered in over two million homes with a six million home partner network, and we have saved renters over $1 billion in cash.

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