U.S. Foreclosures Down 24 Percent Annually in August

ATTOM Data Solutions | September 13, 2019

According to ATTOM Data Solutions, there were 53,007 U.S. properties with foreclosure filings in August 2019, up 4 percent from July 2019 but down 24 percent from a year ago. Nationally, one in every 2,554 U.S. properties received a foreclosure filing during the month of August.

Spotlight

Some of the most popular home repairs become necessary during those middle years when a house is no longer brand-new.

Spotlight

Some of the most popular home repairs become necessary during those middle years when a house is no longer brand-new.

Related News

REAL ESTATE INVESTMENT

Ashcroft Capital and SFO Capital Partners Acquire a 388-Unit Multifamily Housing Community in Atlanta

Ashcroft Capital | June 20, 2022

Ashcroft Capital, a New York-based fully integrated multifamily investment firm, and SFO Capital Partners, a London-based global real estate investment management firm, today announced their joint acquisition of Elliot Gateway (formerly Discovery Gateway), a garden-style community located in Marietta, Ga., one of metro Atlanta's thriving suburbs. The transaction marks the first joint venture between the two companies. The community features 388 apartment homes and marks Ashcroft's sixth community in metro Atlanta, a market the company entered just more than a year ago, and SFO Capital Partners' 19th acquisition in the U.S. housing sector. Birchstone Residential, Ashcroft Capital's in-house property management company, has assumed day-to-day management of Elliot Gateway. We are honored to partner with such a respected institutional firm as SFO Capital Partners, and we look forward to expanding this relationship in the future. We are also excited to expand our presence in the Atlanta market. Atlanta is a market with exceedingly positive multifamily fundamentals that bode well for our value-add strategy." Frank Roessler, founder and CEO of Ashcroft Mohamad Abouchalbak, CEO of SFO Capital Partners, said: "We are thrilled to partner with Ashcroft Capital on this exciting acquisition in Atlanta, a metro with robust macroeconomic fundamentals, favorable demographics and a clear growth outlook. To date, SFO Capital Partners has acquired over USD1 billion of U.S. housing assets comprising more than 7,500 units located across the nation's fastest growing metro areas. This has demonstrated our continued conviction in the sector. We are looking forward to growing our successful partnership with Ashcroft Capital." Elliot Gateway sits in the South Cobb/Cumberland Galleria submarket in Marietta. The booming submarket is home to a large and growing concentration of office space, a robust inventory of industrial properties, a substantial number of military personnel supporting Dobbins Air Reserve Base and highly regarded public schools. According to census data, the submarket has added the highest number of renter households with a bachelor's degree of any metro Atlanta submarket in recent years, helping drive demand for high-end apartments in the area. The submarket is also home to Truist Park (home of the Atlanta Braves) and the surrounding Battery Atlanta mixed-use development. Fortune 500 companies with offices in the area include TKE, Synovus, Genuine Parts, Comcast and HD Supply. "This tremendous submarket combined with our renovation plans, our growing 'boots on the ground' in Atlanta and the operational expertise of Birchstone Residential all set the stage for Elliot Gateway to excel and become one of the most desired apartment communities in the area," said Scott Lebenhart, chief investment officer at Ashcroft Capital. "This property and the surrounding area have so much going for them that we could not be more bullish about how Elliot Gateway will perform moving forward." In-home improvements, which will be executed by Birchstone's construction team, will include the addition of quartz countertops, stainless steel appliances, tile backsplashes, faux-wood flooring, upgraded plumbing and lighting fixtures, new cabinet fronts with brushed nickel pulls and 2-inch faux-wood blinds. Other improvements will include a landscaping update, the replacement of pool-area furniture, the installation of a package locker system and the implementation of a valet trash service. Situated at 720 Franklin Gateway SE, Elliot Gateway was built in 1984 (30 of the units were constructed in 2021). The gated property offers one-, two- and three-bedroom homes. Community amenities include a resort-inspired swimming pool, a new clubhouse and fitness center, playground, soccer field, outdoor kitchen and barbecue area. About Ashcroft Capital Founded in 2015, Ashcroft Capital is a vertically integrated multifamily investment firm that has acquired more than 14,600 apartment homes spanning nearly 50 communities since its inception. It now has approximately $2 billion in assets under management throughout several high-growth metros of the Sun Belt. The firm focuses on capital preservation while striving to return strong, risk-adjusted cash-on-cash to investors. Ashcroft is capitalized with high net worth, family office and institutional capital. Ashcroft specializes in value-add multifamily real estate and exhibits an expertise in extracting maximum value from every asset it acquires. Rather than attempting to play cycle timing, the firm strives to acquire excellent apartment communities within well-located submarkets of large and growing U.S. metros. About SFO Capital Partners SFO Capital Partners is a London-based global real estate investment management firm focused on investing in high quality assets acquired at attractive valuations with a clear path to value creation. SFO Capital Partners adopts disciplined investment strategies organized by asset classes and geographies. SFO Capital Partners hands-on approach to investing combines entrepreneurial agility with best-in-class practices, consistently delivering superior risk adjusted returns to its private and institutional investors. SFO Capital Partners has acquired in excess of USD2.0 billion of assets located in Europe and the USA (as of May 2022). About Birchstone Residential Birchstone Residential is the in-house property management company of Ashcroft Capital. It has a comprehensive property management platform that provides all essential services, including leasing, maintenance and construction management. Birchstone was purpose-built to execute the value-add business plan for each Ashcroft property, optimize financial returns and deliver high resident satisfaction. Committed to a people-centric culture and employee development through job training, job enrichment and accelerated development, Birchstone seeks to provide best-in-class service that attracts new residents and enriches the lifestyles of current residents.

Read More

REAL ESTATE INVESTMENT

Two San Antonio Industrial Properties Acquired by Houston's Welcome Group

Welcome Group | February 18, 2022

A pair of San Antonio industrial buildings have been acquired by Welcome Group, the second and third properties in the market purchased by the Houston-based single-tenant real estate developer specializing in manufacturing, lab, warehouse and distribution facilities. The firm has acquired an 80,431 square-foot office/lab space on an 11.9-acre tract at 6203 Farinon Drive. The building is currently leased by KCI USA, Inc., a global advanced wound care company which develops innovative healing solutions for customers and patients. The building was built in 2004. Welcome Group also acquired a 43,860 square-foot office/lab facility on a 4.5-acre tract at 6603 First Park Ten Boulevard. The property is located in a highly desirable infill location one mile from I-10, providing prompt easy access to Loops 410 and 1604. The building's first phase opened in 1987 and its second phase was completed in 1995. We're certainly keeping San Antonio at the top of our list for future property acquisitions." Welcome Wilson, Jr., president and CEO of Welcome Group. Welcome Group now owns a diverse portfolio of more than 130 industrial properties spanning more than 6 million square feet. Tenants range from Fortune 500 companies to emerging entrepreneurial ventures in manufacturing, healthcare, energy, technology, warehouse and distribution, and other operations. Financing for both acquisitions was provided by Frost Bank. Welcome Group was represented in both transactions by Ryan Wasaff, senior vice president of Welcome Realty Advisors; Cole Bercher, associate at Welcome Group; and John Wilson of Welcome Group. The seller of 6203 Farinon Drive was represented by John Taylor of JLL. The seller of 6603 First Park Ten Boulevard was represented by Luis Garza of Transwestern. About Welcome Group Welcome Group is a leader in the development and ownership of single-tenant industrial facilities for some of the world's most respected names in business and currently owns over 6 million square-feet in Texas and the southeast U.S. The company also offers build-to-suit and design-build services for interested firms and is actively seeking direct purchase and sale-leaseback opportunities throughout Texas and the southeast United States.

Read More

REAL ESTATE TECHNOLOGY

Dubai-based DAMAC Properties makes foray into US real estate market with ultra-luxurious CAVALLI branded Miami condos

DAMAC Properties | May 30, 2022

UAE-based DAMAC Properties has announced that it has won the US $120 million bid to acquire land in the upscale Miami neighbourhood of Surfside. The Dubai-based developer plans to build an ultra-luxurious, CAVALLI branded condominium project. The property, on Collins Avenue, offers residents 200 feet of direct beach frontage and access to South Beach and Bal Harbour. The land, comprising 1.8 acres, was sold to DAMAC for $120 million through the court process. DAMAC Properties has long been eyeing development opportunities in Miami. We see the city, which is known for being a luxury and fashion centre, as a natural fit for our Company, which has an established reputation for its branded luxury offerings." Hussain Sajwani,DAMAC Chairman and Founder Surfside, in recent years, has become a hotspot for ultra-luxury condominium developments, including the Four Seasons Private Residences, the Fendi Chateau Residences, and the Arte Surfside buildings. The town also has a collection of high-end hotels, including the Four Seasons, the St. Regis Bal Harbour, and the Ritz-Carlton Bal Harbour and its primary shopping area, the Bal Harbour Shops, is known throughout Miami as a luxury shopping destination. DAMAC Properties, known for its luxury real estate offerings both regionally and globally, is rapidly expanding its global footprint such as its flagship project in Europe — DAMAC Towers Nine Elms in the prestigious Zone 1 district of London with Versace interiors. The Surfside project will be DAMAC's first in the United States. The Company's consistent success over the years, and more recently on the tailwinds of Dubai's stellar economic performance and forecast, has propelled it to eye various global opportunities for development and growth. It is developing a luxury resort in the Maldives to be operated by global hotel brand Mandarin International and has already projects in Canada, the UK and across the Middle East. In 2021, DAMAC Properties launched two projects in Dubai, DAMAC Lagoons, the developer's third master community in Dubai, and Cavalli Tower, an ultra-luxurious 70-storey tower overlooking Palm Jumeirah, with Cavalli-branded interiors. Both projects have seen great customer interest and demand. "Our global expansion into the United States marks a major milestone and demonstrates that DAMAC is a force to be reckoned with. This is an exciting time, and we have a lot in store," Sajwani said. "We are rapidly growing, not only in our real estate endeavours but in various sectors such as fashion, hospitality and even emerging industries such as the Metaverse, NFTs and data centres. This enables us to stay ahead of the curve," he concluded.

Read More