Home > News > featured news > U.S. Extends Real Estate Intelligence-Gathering Order

U.S. Extends Real Estate Intelligence-Gathering Order

U.S. Treasury Department | November 12, 2019

The U.S. Treasury Department extended for another six months a program collecting data on certain residential real estate deals aimed at preventing money laundering in the property market. The Geographic Targeting Order (GTO) requires title insurance companies to file paperwork with the Treasury’s Financial Crimes Enforcement Network (FinCEN) identifying beneficial owners of limited liability companies (LLCs), partnerships and other business entities that use cash, a check or virtual currency to buy residential real estate worth at least USD 300,000 in 12 major metropolitan areas. Real estate transactions generally are public after completed, but buyers can introduce secrecy into the process, including through the use of LLCs, which can shield their ownership, and the use of currency methods that avoid banks, which typically would conduct due diligence on a buyer. Such secrecy, as well as the general stability of real estate markets, makes property purchases attractive to those laundering money or evading sanctions, anti-corruption researchers say.

Spotlight

Local Demographics | Out-of-the-Box Location Intelligence Solution

Local Demographics provides up-to-date and meaningful insights into the population living around a location or in any defined area within the U.S. and Canada. This widget allows MLSs, brokerages, and end users to learn more about a specific location and its demographics.

The new SDK exists as an out-of-the-box solution ready for implementation that requires minimal development and design effort.

Using Local Demographics, real estate players can integrate and display information on their listing site to allow home buyers and renters to better understand the area where their property of interest is located.

More featured news

Spotlight

Local Demographics | Out-of-the-Box Location Intelligence Solution

Local Demographics provides up-to-date and meaningful insights into the population living around a location or in any defined area within the U.S. and Canada. This widget allows MLSs, brokerages, and end users to learn more about a specific location and its demographics.

The new SDK exists as an out-of-the-box solution ready for implementation that requires minimal development and design effort.

Using Local Demographics, real estate players can integrate and display information on their listing site to allow home buyers and renters to better understand the area where their property of interest is located.

Related News

REAL ESTATE INVESTMENT, MORTGAGE AND LENDING

NexPoint Launches Fourth Self-Storage DST Offering with Three Premium Assets

PRnewswire | April 18, 2023

NexPoint, a multibillion-dollar alternative investment firm, today announced the launch of NexPoint Storage IV DST, a Delaware statutory trust ("DST") offering comprised of three Class A, GenerationV ("GenV") assets in submarkets with high levels of growth and average household income in the Phoenix, Arizona and St. Petersburg, Florida metropolitan statistical areas ("MSAs") NexPoint Storage Partners, Inc. acquired the assets for inclusion in NexPoint Storage IV DST, which aims to raise $70.3 million. The assets are managed by Extra Space Storage and offer revenue and value growth potential in two of Arizona and Florida's MSAs. Extra Space is the largest third-party self-storage manager in the U.S., with over 1,200 properties under management for third parties and managed joint ventures across 40 states. "We are very excited to launch NexPoint Storage DST IV with ownership in three premium assets in two MSAs that are among the top 10 fastest growing in the U.S. and in one of the fastest-growing sectors in the commercial real estate space" said John Good, CEO of NexPoint Storage Partners. "We believe this is a terrific opportunity for accredited investors to gain exposure to the self-storage sector." Two of the assets are located in the Phoenix MSA, which has a population of nearly 5 million. Phoenix has experienced rapid employment growth as high-tech companies like Intel Corp., General Dynamics, and Honeywell set up larger operations in the Phoenix MSA, in turn making Phoenix one of the popular destination cities for millennial migration. The third asset is located in the St. Petersburg area, which is the third-largest MSA in the southeastern U.S. with a population of 3 million. Population in the area – which includes the cities of Tampa and St. Petersburg – has grown nearly 14% since 2011. According to the Self Storage Assocation, the self-storage sector has been the fastest-growing segment of the commercial real estate industry over the last 40 years. The demand for self-storage continues to strengthen as healthy job growth, rising wages, increased mobility and the formation of new households support the need for self-storage. Nationally, the self-storage sector experienced double-digit revenue and net operating income growth in 2021 and 2022 and has entered 2023 with continued strong customer demand and historically high occupancies per S&P Global Market Intelligence. These assets continue NexPoint's growth in the self-storage sector. NexPoint's self-storage platform was developed from the ground up with entrepreneurial developers having substantial experience in selecting, acquiring, and entitling sites for self-storage development. Today, the platform is comprised of an investment portfolio, including wholly-owned and managed vehicles and DSTs, valued in excess of $2 billion. About NexPoint NexPoint is a multibillion-dollar alternative investment firm comprised of a group of investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles. NexPoint provides differentiated access to alternatives through a range of investment solutions, including public and private real estate investment trusts, tax-advantaged real estate vehicles, merger arbitrage and event driven strategies, other private real estate investments, open-end and closed-end funds, interval funds and a business development company. NexPoint is based in Dallas, Texas and is part of a network of affiliates with expertise across the asset management and financial services spaces. For more information, visit nexpoint.com. About NexPoint Storage NexPoint Storage is a real estate investment platform that specializes in the self-storage sector. A product of NexPoint's 2020 acquisition of Jernigan Capital, NexPoint Storage invests in newly built, multi-story, climate-controlled, Class-A self-storage facilities—known as "Generation V" facilities—located in dense and growing markets throughout the U.S. NexPoint Storage acquires and selectively develops GenV self-storage facilities. The platform leverages resources and expertise across NexPoint, especially in the areas of real estate financing, product strategy, and distribution. For more information, visit nexpointstorage.com.

Read More

MARKET OUTLOOK, REAL ESTATE TECHNOLOGY

Addressable’s New SmartCopy Automates Real Estate Marketing by Using GPT-3

Addressable | March 15, 2023

On March 14, 2023, an end-to-end marketing solution provider Addressable, announced SmartCopy, that helps generate copy as a part of the company's card-writing platform. The new tool, SmartCopy, is powered by Open AI's GPT-3 to generate real estate marketing copy. SmartCopy is designed to assist real estate agents in attaining listings through outreach with personalized handwritten mail by creating AI-generated letter copy. The feature generates highly customized and compelling marketing messages using Addressable's real estate performance data and GPT-3's powerful natural language processing capabilities. SmartCopy offers benefits and features, including the ability to generate personalized messages at scale, highly customized content for real estate marketing and improved efficiency and effectiveness in acquiring listing appointments. The tool is now available for new and existing customers on the company's website. Co-Founder and CEO at Addressable, Christopher Tosswill, said, "Addressable has always been committed to providing innovative solutions to help our customers grow their businesses. SmartCopy is a perfect example of this commitment." He added, "This feature will enable real estate agents to generate highly personalized marketing messages at scale, helping them acquire more listing appointments and grow their businesses." (Source – Business Wire) About Addressable Addressable is a cutting-edge technology company offering a unique real estate marketing solution. Established in 2019, the Los Angeles, California-based company has provided innovative tools to assist real estate agents in their sales efforts. The company's patented robotic technology generates personalized handwritten letters, enhancing the customer experience and driving engagement. Its management team comprises experienced professionals, including former product manager at Facebook Christopher Tosswill and former Task Rabbit and SnowFlake Director of Engineer Mark Weaver, who bring a wealth of expertise. In addition, its innovative platform has proved to be a game-changer in the real estate industry, assisting agents in 44 states in generating over $1.5 billion in home sales since 2020.

Read More

REAL ESTATE TECHNOLOGY, MORTGAGE AND LENDING

Pineapple Financial Inc. Expands Mortgage Services to Western Canada

Newswire | May 31, 2023

Pineapple Financial Inc. (PAPL: Reserved), the tech-focussed mortgage brokerage with an integrated network of partner brokerages and agents across Canada, is pleased to announce it will now be offering mortgage services in Western Canada via their alliance with Pineapple Canada Lending House. Pineapple is excited to provide more Canadians with its revolutionized approach to mortgage services through this market expansion. "Our goal at Pineapple has always been to give as many Canadians as possible the opportunity to purchase a home," said Shubha Dasgupta, Co-Founder and Chief Executive Officer of Pineapple. "To achieve this, we've simplified the journey through data-driven processes and intelligent technology, all while strategically and sustainably expanding our presence in the Canadian market. Thanks to our alliance with Canada Lending House, Pineapple will be able to provide more homebuyers and brokers across Canada with the best experience and products the industry has to offer." Since its inception, Canada Lending House has offered brokers an established system of training and extensive support services to accelerate their success rate by eliminating time-consuming processes. Pineapple Financials' innovative, automated and digitalized technology approach will supercharge the Canada Lending House system to provide their brokers with a streamlined approach that will free up more time to focus on result-driven tasks and building relationships. "We are thrilled to join the Pineapple network and bring the future of mortgage brokering across British Columbia," said Harbir Dhillon, Managing Broker at Pineapple Canada Lending House. "Our focus is dedicated to providing small-town brokers with the most advanced, digital tools that are not often available. Our partnership with Pineapple Financial will improve on delivering that experience and augment our proven system of time-saving processes designed to accelerate a broker's career." Harbir continued by saying, "After our brokers complete the Pineapple training program, they will be able to focus 100% of their attention on the things that matter most - providing superior customer service and deal-generating activities." The expansion into Western Canada is proof of Pineapple's ambition to build momentum and drive its growth. The company is expanding its business presence nationwide, all while modernizing the Canadian mortgage industry. Even as the real estate landscape has changed significantly over the past 12 months with higher interest rates and turbulent conditions, Pineapple has continued providing mortgage-seeking Canadians nationwide with the best service and solutions to meet their needs today and into the future. "We are honoured to partner with Canada Lending House," said Christa Mitchell, Chief Strategy Officer at Pineapple. "This partnership is key to unlocking Pineapple's national expansion and delivering on our commitment to provide the best service and mortgage solutions to borrowers across Canada." About Pineapple Pineapple is a leader in the Canadian mortgage industry, breaking the mould by focusing on both the long-term success of agents and brokerages and the overall experience of homeowners. With approximately 700 brokers within the network, Pineapple utilizes cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their ultimate dream of owning a home. Pineapple is active within the community and is proud to sponsor cancer charities across Canada, where proceeds from every transaction go to improving the lives of fellow Canadians touched by cancer. Visit www.gopineapple.com for more information. About Pineapple Canada Lending House Pineapple Canada Lending House is a trusted and established Mortgage Brokerage in British Columbia, Canada, with over 20 years of experience serving the community. They have built a reputation for providing their clients with industry-leading solutions, world-class customer service, and access to a wide range of mortgage products and services. They bring a new flavour to mortgage brokering and are proud to offer big-city perks to smaller communities across BC.

Read More

REAL ESTATE INVESTMENT, MORTGAGE AND LENDING

NexPoint Launches Fourth Self-Storage DST Offering with Three Premium Assets

PRnewswire | April 18, 2023

NexPoint, a multibillion-dollar alternative investment firm, today announced the launch of NexPoint Storage IV DST, a Delaware statutory trust ("DST") offering comprised of three Class A, GenerationV ("GenV") assets in submarkets with high levels of growth and average household income in the Phoenix, Arizona and St. Petersburg, Florida metropolitan statistical areas ("MSAs") NexPoint Storage Partners, Inc. acquired the assets for inclusion in NexPoint Storage IV DST, which aims to raise $70.3 million. The assets are managed by Extra Space Storage and offer revenue and value growth potential in two of Arizona and Florida's MSAs. Extra Space is the largest third-party self-storage manager in the U.S., with over 1,200 properties under management for third parties and managed joint ventures across 40 states. "We are very excited to launch NexPoint Storage DST IV with ownership in three premium assets in two MSAs that are among the top 10 fastest growing in the U.S. and in one of the fastest-growing sectors in the commercial real estate space" said John Good, CEO of NexPoint Storage Partners. "We believe this is a terrific opportunity for accredited investors to gain exposure to the self-storage sector." Two of the assets are located in the Phoenix MSA, which has a population of nearly 5 million. Phoenix has experienced rapid employment growth as high-tech companies like Intel Corp., General Dynamics, and Honeywell set up larger operations in the Phoenix MSA, in turn making Phoenix one of the popular destination cities for millennial migration. The third asset is located in the St. Petersburg area, which is the third-largest MSA in the southeastern U.S. with a population of 3 million. Population in the area – which includes the cities of Tampa and St. Petersburg – has grown nearly 14% since 2011. According to the Self Storage Assocation, the self-storage sector has been the fastest-growing segment of the commercial real estate industry over the last 40 years. The demand for self-storage continues to strengthen as healthy job growth, rising wages, increased mobility and the formation of new households support the need for self-storage. Nationally, the self-storage sector experienced double-digit revenue and net operating income growth in 2021 and 2022 and has entered 2023 with continued strong customer demand and historically high occupancies per S&P Global Market Intelligence. These assets continue NexPoint's growth in the self-storage sector. NexPoint's self-storage platform was developed from the ground up with entrepreneurial developers having substantial experience in selecting, acquiring, and entitling sites for self-storage development. Today, the platform is comprised of an investment portfolio, including wholly-owned and managed vehicles and DSTs, valued in excess of $2 billion. About NexPoint NexPoint is a multibillion-dollar alternative investment firm comprised of a group of investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles. NexPoint provides differentiated access to alternatives through a range of investment solutions, including public and private real estate investment trusts, tax-advantaged real estate vehicles, merger arbitrage and event driven strategies, other private real estate investments, open-end and closed-end funds, interval funds and a business development company. NexPoint is based in Dallas, Texas and is part of a network of affiliates with expertise across the asset management and financial services spaces. For more information, visit nexpoint.com. About NexPoint Storage NexPoint Storage is a real estate investment platform that specializes in the self-storage sector. A product of NexPoint's 2020 acquisition of Jernigan Capital, NexPoint Storage invests in newly built, multi-story, climate-controlled, Class-A self-storage facilities—known as "Generation V" facilities—located in dense and growing markets throughout the U.S. NexPoint Storage acquires and selectively develops GenV self-storage facilities. The platform leverages resources and expertise across NexPoint, especially in the areas of real estate financing, product strategy, and distribution. For more information, visit nexpointstorage.com.

Read More

MARKET OUTLOOK, REAL ESTATE TECHNOLOGY

Addressable’s New SmartCopy Automates Real Estate Marketing by Using GPT-3

Addressable | March 15, 2023

On March 14, 2023, an end-to-end marketing solution provider Addressable, announced SmartCopy, that helps generate copy as a part of the company's card-writing platform. The new tool, SmartCopy, is powered by Open AI's GPT-3 to generate real estate marketing copy. SmartCopy is designed to assist real estate agents in attaining listings through outreach with personalized handwritten mail by creating AI-generated letter copy. The feature generates highly customized and compelling marketing messages using Addressable's real estate performance data and GPT-3's powerful natural language processing capabilities. SmartCopy offers benefits and features, including the ability to generate personalized messages at scale, highly customized content for real estate marketing and improved efficiency and effectiveness in acquiring listing appointments. The tool is now available for new and existing customers on the company's website. Co-Founder and CEO at Addressable, Christopher Tosswill, said, "Addressable has always been committed to providing innovative solutions to help our customers grow their businesses. SmartCopy is a perfect example of this commitment." He added, "This feature will enable real estate agents to generate highly personalized marketing messages at scale, helping them acquire more listing appointments and grow their businesses." (Source – Business Wire) About Addressable Addressable is a cutting-edge technology company offering a unique real estate marketing solution. Established in 2019, the Los Angeles, California-based company has provided innovative tools to assist real estate agents in their sales efforts. The company's patented robotic technology generates personalized handwritten letters, enhancing the customer experience and driving engagement. Its management team comprises experienced professionals, including former product manager at Facebook Christopher Tosswill and former Task Rabbit and SnowFlake Director of Engineer Mark Weaver, who bring a wealth of expertise. In addition, its innovative platform has proved to be a game-changer in the real estate industry, assisting agents in 44 states in generating over $1.5 billion in home sales since 2020.

Read More

REAL ESTATE TECHNOLOGY, MORTGAGE AND LENDING

Pineapple Financial Inc. Expands Mortgage Services to Western Canada

Newswire | May 31, 2023

Pineapple Financial Inc. (PAPL: Reserved), the tech-focussed mortgage brokerage with an integrated network of partner brokerages and agents across Canada, is pleased to announce it will now be offering mortgage services in Western Canada via their alliance with Pineapple Canada Lending House. Pineapple is excited to provide more Canadians with its revolutionized approach to mortgage services through this market expansion. "Our goal at Pineapple has always been to give as many Canadians as possible the opportunity to purchase a home," said Shubha Dasgupta, Co-Founder and Chief Executive Officer of Pineapple. "To achieve this, we've simplified the journey through data-driven processes and intelligent technology, all while strategically and sustainably expanding our presence in the Canadian market. Thanks to our alliance with Canada Lending House, Pineapple will be able to provide more homebuyers and brokers across Canada with the best experience and products the industry has to offer." Since its inception, Canada Lending House has offered brokers an established system of training and extensive support services to accelerate their success rate by eliminating time-consuming processes. Pineapple Financials' innovative, automated and digitalized technology approach will supercharge the Canada Lending House system to provide their brokers with a streamlined approach that will free up more time to focus on result-driven tasks and building relationships. "We are thrilled to join the Pineapple network and bring the future of mortgage brokering across British Columbia," said Harbir Dhillon, Managing Broker at Pineapple Canada Lending House. "Our focus is dedicated to providing small-town brokers with the most advanced, digital tools that are not often available. Our partnership with Pineapple Financial will improve on delivering that experience and augment our proven system of time-saving processes designed to accelerate a broker's career." Harbir continued by saying, "After our brokers complete the Pineapple training program, they will be able to focus 100% of their attention on the things that matter most - providing superior customer service and deal-generating activities." The expansion into Western Canada is proof of Pineapple's ambition to build momentum and drive its growth. The company is expanding its business presence nationwide, all while modernizing the Canadian mortgage industry. Even as the real estate landscape has changed significantly over the past 12 months with higher interest rates and turbulent conditions, Pineapple has continued providing mortgage-seeking Canadians nationwide with the best service and solutions to meet their needs today and into the future. "We are honoured to partner with Canada Lending House," said Christa Mitchell, Chief Strategy Officer at Pineapple. "This partnership is key to unlocking Pineapple's national expansion and delivering on our commitment to provide the best service and mortgage solutions to borrowers across Canada." About Pineapple Pineapple is a leader in the Canadian mortgage industry, breaking the mould by focusing on both the long-term success of agents and brokerages and the overall experience of homeowners. With approximately 700 brokers within the network, Pineapple utilizes cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their ultimate dream of owning a home. Pineapple is active within the community and is proud to sponsor cancer charities across Canada, where proceeds from every transaction go to improving the lives of fellow Canadians touched by cancer. Visit www.gopineapple.com for more information. About Pineapple Canada Lending House Pineapple Canada Lending House is a trusted and established Mortgage Brokerage in British Columbia, Canada, with over 20 years of experience serving the community. They have built a reputation for providing their clients with industry-leading solutions, world-class customer service, and access to a wide range of mortgage products and services. They bring a new flavour to mortgage brokering and are proud to offer big-city perks to smaller communities across BC.

Read More

More featured news