REAL ESTATE TECHNOLOGY

Transactly Acquires Moncord Real Estate Professional Services

Transactly | June 08, 2021

Transactly, a rapidly growing Real Estate Transaction Platform, has announced the acquisition of Moncord Real Estate Professional Services based in Bellevue, Washington. With this acquisition, Transactly further expands their national network of tech-enabled Transaction Coordinators -- already the largest in North America -- to include Moncord’s vast team of coordinators in the Pacific Northwest.

“We are excited to welcome Moncord into the Transactly family,” says Transactly founder and CEO Bryan Bowles. “Alex and Lisa Mont-Ros have built an incredible team of talented individuals at Moncord. This acquisition significantly increases Transactly’s ability to serve agents, teams, and brokerages in all key markets across the country.”

Moncord was founded by Alex and Lisa Mont-Ros, a husband and wife duo whose leadership in recent years has grown Moncord into the leading transaction coordination service in the Pacific Northwest, helping their clients close over $5 billion in transactions. “This is a natural next step for Moncord,” said Alex of the acquisition, “Our goal has always been to empower TCs so they can be their best, which enables real estate agents to focus on efficiency and growth. With Transactly’s ever-improving tech -- which truly stands alone in the industry -- our coordinators will continue to deliver the level of excellence which clients have come to expect from both Moncord and Transactly.”

Transactly has retained all existing Moncord staff, and is enrolling all transaction coordinators and clients into their technology platform to ensure an ever-improving digital client experience -- something that is otherwise lacking in the real estate industry.

Spotlight

The improved performance of the property sector in recent times means greater revenue to the State Governments from increased transaction activity and higher valuations. The proportionate tax burden borne by the Real Estate & Construction industry means the topic of property taxes and their impact on the economy is more relevant than ever. With the Federal Government White Papers on our tax system and the federation model in the pipeline, now is the time for the industry to voice its concern on the impact that the current model has on housing, investment, and development activity, along with recommendations for change.

Spotlight

The improved performance of the property sector in recent times means greater revenue to the State Governments from increased transaction activity and higher valuations. The proportionate tax burden borne by the Real Estate & Construction industry means the topic of property taxes and their impact on the economy is more relevant than ever. With the Federal Government White Papers on our tax system and the federation model in the pipeline, now is the time for the industry to voice its concern on the impact that the current model has on housing, investment, and development activity, along with recommendations for change.

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INVESTMENTS

Dreamscape Companies and Meritage Group Acquire New Construction Nashville Holiday Inn & Suites Downtown

Dreamscape | December 14, 2021

A joint-venture between affiliates of Dreamscape Companies and Meritage Group LP completed the acquisition of the Nashville Holiday Inn & Suites Downtown, a newly constructed hotel situated in the heart of Downtown Nashville in the city's vibrant SoBro (South of Broadway) neighborhood. This purchase marks Dreamscape's second hospitality transaction in the city in 2021, having acquired The Sheraton Grand Nashville Downtown in June. The purchase of this 230-room hotel underscores Dreamscape's commitment to expanding its presence in the Nashville market, as well as identifying prime growth opportunities in key regional areas across the country. "We are very pleased to be partnering with Meritage on this exciting deal. Nashville has long signified an area of keen interest for us, and after entering the market earlier this year with the purchase of The Sheraton Grand Nashville Downtown, we immediately knew that we wanted to expand our footprint in this booming city, which continues to attract tourists from all over the country as well as across the globe." -Eric Birnbaum, Founder and CEO of Dreamscape Companies "We are thrilled to be expanding our presence in Nashville given the strong market fundamentals. This transaction marks Dreamscape's fifth acquisition in the last year and fits squarely into our thesis to acquire assets in high-growth markets at an attractive basis." -Scott Broder, President of Dreamscape Hospitality The Nashville Holiday Inn & Suites Downtown, located at 415 4th Avenue South, has been outfitted with 230 rooms and 8,700 square feet of first-class meeting space, making it an ideal establishment for leisure and business travelers alike. The property, which opened its doors just two years ago, also includes the street front cocktail bar and restaurant, 4th and Peabody, which is preparing to undergo a thoughtful renovation, as well as an on-site parking garage. In addition to reimagining the hotel's dining concept, Dreamscape is also planning to integrate additional retail concepts within the property's expansive lobby. "We are pleased to partner with Dreamscape to acquire another leisure-oriented, new construction hospitality asset in a dynamic growth market. This is a continuation of Meritage's broader commitment to investing in downtown Nashville, which began in 2017, and this marks our fifth investment in Nashville of strategically located, urban-core assets." -Jared Halperin, a Managing Director at Meritage Located just a short walk from the city's ever-bustling and widely trafficked Broadway strip, the Nashville Holiday Inn & Suites Downtown places visitors in close proximity to Bridgestone Arena; Music City Center, the city's convention center; and other iconic institutions and landmarks. Additionally, those craving the best Nashville has to offer will delight in knowing that the hotel is situated just across the street from Nashville's famous barbeque restaurant, Martin's BBQ Joint. About Dreamscape Dreamscape's mission is to create long-term financial prosperity through a diversified portfolio of differentiated, forward-thinking real estate projects. Led by Founder and CEO Eric Birnbaum, Dreamscape owns and operates residential, retail, hospitality, entertainment and gaming properties, (re)developing experience-centered spaces that focus on maximizing each property's intrinsic value. About Meritage Group LP Meritage is a fundamentally-oriented investment firm with assets under management in excess of $11 billion as of December 31, 2020. Meritage invests in public and private equity, credit and real estate. The firm has approximately 50 employees in offices located in Greenwich, New York City, and San Francisco.

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REAL ESTATE TECHNOLOGY

Data-Driven Home Platform Kukun Expands Partnership With Digital Personal Finance Company SoFi

Kukun | July 14, 2021

Kukun, the leading company in property data and predictive analytics for home renovations, announced today that SoFi would integrate the new Kukun Digital Cost Estimator into the SoFi app through Relay, SoFi's financial management tool. This expansion builds on SoFi and Kukun's existing partnership, which began in 2018 when SoFi started offering Kukun and SoFi's Home Improvement Cost Calculator products to its clients. In addition, Kukun offers Relay users property data, photos, and property values using Automated Valuation Models (AVM) for individuals interested in learning more about specific home investments. Relay will enable users to monitor the value of the owned real estate and handle different financial aspects related to the home by integrating Kukun's Property Tracking feature. Relay aspires to be the one-stop shop for SoFi members seeking a comprehensive understanding of their money. Real estate is often the most important financial investment, making it a crucial asset to monitor and manage. Kukun's most recent Cost Estimator is now available on Relay, allowing consumers better manage their remodeling budgets for the greatest possible outcome, increasing the investment value of their homes. Kukun will supply SoFi with Automated Valuation Models (AVM) and images and improve its existing digital estimator under the contract terms. The enhanced tool will include new rooms such as a home gym and an office and a real-time assessment of the return on investment (ROI) of any remodeling project. About Kukun Kukun is the leading provider of property data and predictive analytics, allowing homeowners to buy better, remodel smarter, and manage their homes more easily. Kukun's products assist customers, realtors, and real estate investors make smart financial decisions that create wealth. The company offers solutions that show which areas are likely to see the most price growth, profit from home improvements, estimate the cost of any renovation quickly and contain all of the information a house buyer or homeowner needs to optimize their home experience. Kukun's data and analytics solutions are also used by large companies in the investment, real estate, construction, and banking sectors. For example, Kukun is the only real estate renovation engine utilized on the websites of several of America's largest banks. About SoFi SoFi assists people in achieving financial independence so that they can pursue their objectives. Our products for borrowing, saving, spending, investing and protecting provide our more than one million members with quick access to tools to help them manage their money. In addition, SoFi membership includes the essentials for going ahead, such as career advisors and access to a thriving community of like-minded, ambitious individuals. SoFi Stadium, home of the Los Angeles Chargers and Rams, also has SoFi as a naming rights partner.

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REAL ESTATE INVESTMENT

Archer Announces Revolutionary Data-Powered Underwriting Tool for Multifamily Investors

Archer | August 23, 2021

Archer has unveiled AIM Automated Underwriting, a data-driven underwriting tool that significantly enhances the multifamily underwriting process and reduces the amount of time required to complete a first underwriting from days to minutes. AIM Automated Underwriting solves one of biggest challenges that real estate investors face today – evaluating and underwriting deals efficiently and effectively. With AIM Automated Underwriting, investors can complete a first underwriting of any multifamily property in less than 15 minutes. "Quality underwriting is crucial to the successful execution of an investment strategy, but speed also matters because investors that act quickly have an advantage over their competitors," says Thomas Foley, co-founder and CEO of Archer. "Before AIM Automated Underwriting, investors had to choose between speed and quality. AIM Automated Underwriting gives investors all the information they need to estimate expected returns, mitigate known risks, and take advantage of upside potential." AIM Automated Underwriting supports Archer's mission to make real estate investing easier through better data, technology, and local expertise. The tool is an extension of AIM, Archer's proprietary technology platform, which helps investors source opportunities by converting raw, disjointed data into actionable market intelligence with a click of a button. "Real estate investors today are overwhelmed and stretched," says Fred Canney, co-founder, COO, and CFO of Archer. "Their teams are trying to do more with less and are constantly looking for ways to differentiate their capabilities. AIM Automated Underwriting not only vastly improves the quality of each underwritten model, it also gives back the most valuable commodity of all: time." By leveraging machine learning, AIM Automated Underwriting predicts operating costs, identifies the best comps in the market for revenues or sales, and automatically sorts through thousands of comparable properties to select only the best. It then organizes the information in a useful and intuitive way through a user interface that helps real estate acquisitions teams quickly apply their expertise to adjust the base level assumptions as needed. AIM Automated Underwriting provides: Speed to the first underwrite – 15 minutes or less for a full multifamily evaluation, with or without a rent roll or T-12 Transparency in decision making – see all rent, operating costs, and sales comps; understand why each comp was chosen, and importantly, which comps were not chosen and why Expansion of scope – with an automated underwriting model, investors can look at more deals than before, prioritize deals faster, and choose where to spend their time "I can't imagine going back to the old way of underwriting," says Miles Pratt, managing director of acquisitions for Archer. "Being able to confidently underwrite dozens of properties in several different markets in a fraction of the time is a real game-changer. Though human-level refinement is still necessary for perfecting underwriting, the speed that you can get to the refinement part of the analysis is a huge leap in productivity." AIM Automated Underwriting effectively produces a baseline underwriting complete with comparable analysis and all the information necessary for investors to make smart, informed decisions. "At Archer, we know that data is only the start of the equation – real estate professionals bring a tremendous amount of market knowledge and acquisitions expertise," Canney says. "We believe AIM Automated Underwriting helps prioritize effort, focuses human energy where it can add the most value, and allows investors to pursue more deals with the teams they have today." Q&A: Archer's Canney Explains the Ins & Outs of AIM Automated Underwriting AIM Automated Underwriting is just one of Archer's unique technology tools. The company's talented data science team recently developed a recommendation engine to help investors expand from their local market into "look-alike" markets where they have a less of a presence. The powerful recommendation engine analyzes new markets at scale that would traditionally require an army of analysts. Learn more about Archer's recommendation engine. Since launching the platform in March 2021, Archer has grown its real estate clients to more than a dozen funds and operators who are sourcing off-market opportunities in more than 25 markets. For example, Archer has partnered with a Houston-based private equity firm to expand its market entry to Austin and San Antonio. It's also working with an investor with very specific investment criteria to identify pockets of opportunity within San Diego and Salt Lake City. About Archer Archer is a real estate investment firm that helps investors build their ideal portfolios. By targeting specific cities and properties, Archer is transforming the way investors enter new markets and expand into new property types. The firm has developed a transformative technology tool, Actionable Insights Model (AIM), that merges data from trusted sources and insights from local market experts. Guided by AIM, Archer identifies the most strategic assets, allowing investors to reduce the risk associated with market entry.

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