U.S. Foreclosure Activity Down 19 Percent Annually in Q3

ATTOM Data Solutions | October 17, 2019

According to ATTOM Data Solutions Q3 2019 U.S. Foreclosure Market Report, there was a total of 143,105 U.S. properties with foreclosure filings default notices, scheduled auctions or bank repossessions in the third quarter, down 6 percent from the previous quarter and down 19 percent from a year ago to the lowest level since Q2 2005 a more than 13-year low. U.S. foreclosure activity in Q3 2019 was 49 percent below the pre-recession average of 278,912 properties with foreclosure filings per quarter between Q1 2006 and Q3 2007 the 12th consecutive quarter where U.S. foreclosure activity has registered below the pre-recession average.

Spotlight

We still believe that real estate securities offer a compelling investment opportunity around the globe. When it comes to pricing REITs, the markets can be very inefficient.

Spotlight

We still believe that real estate securities offer a compelling investment opportunity around the globe. When it comes to pricing REITs, the markets can be very inefficient.

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REAL ESTATE INVESTMENT

Gray Capital Purchases 406-Unit Apartment Property, the Second Asset in 100M Multifamily Fund

Gray Capital | June 30, 2022

Multifamily investment firm Gray Capital has closed on their acquisition of Club Meridian Apartments, a 406-unit property located in Okemos, MI just east of Lansing, MI. Gray Capital intends to make strategic upgrades at the property, including siding and asphalt repairs, pool upgrades, re-painted balconies, new signage, and other exterior enhancements to boost the curb appeal of the property. Additionally, interior renovations like modern appliances, new flooring, and upgraded countertops will significantly increase the value of the asset and elevate its position in the rental market. Club Meridian is already a well-maintained property, and this solid foundation will allow us to dedicate our resources to those renovations and improvements that are most important to residents and the quality of the property itself." Spencer Gray, President and CEO of Gray Capital George Tikijian, Hannah Ott, and Cameron Benz of the Indianapolis Cushman & Wakefield represented the seller in the transaction, with Gray Capital representing itself. Club Meridian is the second property within Gray Capital's $100 million multifamily investment fund, The Gray Fund, and follows the acquisition of Indianapolis apartment property Stonybrook Commons one month prior. The acquisition of Club Meridian and Stonybrook Commons in 2022 adds to Gray Capital's $600+ million in assets under management and more than $1 billion in commercial real estate projects to date since its founding in 2015.

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REAL ESTATE TECHNOLOGY

Starz Real Estate forms new €300M JV with Ready Capital

Ready Capital | July 14, 2022

Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced Starz Real Estate (Starz), a pan-European commercial real estate lending platform has formed a new joint venture with Ready Capital Corporation (NYSE: RC), a commercial mortgage REIT headquartered in New York, to originate circa €300m of new commercial real estate loans over the next two years. The new joint venture will focus on deploying commercial real estate bridge and term loans between €10m and €40m in size across the UK, Benelux, Dach Region, Italy and Portugal with up to 75% LTV across sectors including office, residential, mixed use, student housing, logistics, self-storage, and selective retail and hotel opportunities. The joint venture can also offer construction lending in the above mentioned continental European locations. The deal reflects further institutional confidence in Starz, following backing from a Middle East Sovereign Wealth Fund at the end of last year to originate €900m of loans with the latest transaction in that fund comprising a €68.5m senior facility to Union Street Investments for a multi-office investment platform in the Netherlands. "This partnership with Ready Capital will significantly expand our capability to service the increasing demand for agile, mid-market capital across the UK and Europe, bolstering our existing lending strategy." David Arzi, CEO of Starz "We are working in a challenging yet exciting landscape in the wake of the pandemic, with new opportunities as assets change hands or need repurposing to suit new demands. We are pleased to have an institutional investor of this calibre backing us, with our streamlined underwriting processes ensuring we can take capital to market in an efficient and decisive manner." "This new JV partnership with Starz follows through on our commitment to expand Ready Capital's commercial real estate lending business internationally," said Thomas Capasse, CEO of Ready Capital. "With a history of sourcing high quality loans from strong sponsors, the team at Starz has an investment philosophy that aligns well with the credit foundation of Ready Capital's lending strategies, plus they share our hands-on approach to loan servicing and asset management." Ready Capital is externally managed by Waterfall Asset Management, LLC. About Starz Launched in July 2018, Starz is a commercial real estate lender focused on middle-market loans throughout Europe. With a balance sheet built for the long haul, Starz is a flexible and reliable source of capital for real estate investors. Starz provides collaborative lending solutions coupled with streamlined underwriting processes that ensures seamless service. https://starzrealestate.com/ About Ready Capital Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including multifamily agency, stabilized and bridge financing, as well as government guaranteed business loans. Ready Capital and its affiliates also provide alternative lending, construction lending, and low-income housing finance as well as residential mortgages. Headquartered in New York, Ready Capital employs more than 600 lending professionals nationwide. The company is externally managed by Waterfall Asset Management, LLC.

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REAL ESTATE TECHNOLOGY

Bluerock Residential Growth REIT (BRG) Announces May Dividends on Series B Preferred Stock and Series T Preferred Stock

Bluerock Residential Growth REIT, Inc. | May 15, 2022

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