MARKET OUTLOOK, MORTGAGE AND LENDING
Affinius Capital | March 13, 2023
USAA Real Estate recently announced it has successfully consummated a decade-long partnership with Square Mile Capital after acquiring the balance of Square Mile Capital in 2021. The final integration of the investment management platforms would be under a new corporate brand, Affinius Capital®. The company will continue to offer strategic equity and debt capital, and it will continue to capitalize on the growing demand for structured credit, technology-driven real estate assets, and flexible deal structures while addressing the pressing need for rental housing solutions under the new corporate brand name Affinius Capital.
The same dedicated and diverse group of senior leaders will be operating Affinius Capital, using the disciplined approach as previously to invest and align interests that have made USAA Real Estate and Square Mile Capital successful. In addition, former Square Mile CEO Craig Solomon will now be the CIO and Vice Chairman of the new company.
Affinius Capital, with the original approach of the two integrated companies, will continue to put its clients and their interests first and ensure they align with its own goals. It will also continue to look for risk-adjusted returns that have a positive and measurable effect on society while keeping its multifaceted focus on creative and dynamic solutions that use technological advances in digital automation, predictive analytics, and artificial intelligence. The company's headquarters will remain in San Antonio and New York, and regional experts will continue to operate in Amsterdam, Atlanta, Dallas, Chicago, Phoenix, Los Angeles, San Francisco, Seoul, and Washington, D.C.
About Affinius Capital
San Antonio, Texas-based Affinius Capital and affiliate companies invest across the risk spectrum for a client base worldwide, managing more than $35 billion within a diversified portfolio across Europe and North America as net assets under management. It offers strategic equity and debt capital to capitalize on the escalating demand for technology-driven real estate assets to meet the critical demands for housing solutions and other capital and market structure opportunities exhibiting convincing risk-return characteristics.
REAL ESTATE INVESTMENT, MORTGAGE AND LENDING
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.
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.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
PRnewswire | April 20, 2023
RESAAS Services Inc. (TSXV: RSS) (OTCQB: RSASF), ("RESAAS" or the "Company"), a leading provider of technology solutions for the Real Estate Industry, has announced a preliminary partnership with Rocket Mortgage Canada.
Rocket Mortgage Canada is a digital mortgage broker, using technology to deliver a revolutionized mortgage process. The partnership introduces a unique way for real estate agents to add value to clients by offering access to a simplified mortgage process through Rocket Mortgage Canada.
"Exclusive real estate data gathered by RESAAS shows real estate agents generate higher referral fees when referring clients that are pre-approved for a mortgage," said Tom Rossiter, CEO of RESAAS. "RESAAS has selected Rocket Mortgage Canada because its digital experience is complimentary with RESAAS's technology-forward solution. Our goal is simple: to enable RESAAS agents to pre-qualify their clients quickly for the best mortgage products and lowest rates available."
"As a fintech company, Rocket Mortgage Canada understands the value of a digital experience to help simplify the mortgage process for both clients and their real estate agents," said Hash Aboulhosn, President of Rocket Mortgage Canada. "That's why this partnership with RESAAS makes sense – their technology for the real estate professional provides yet another digital touchpoint on our way toward fully digitizing the mortgage process."
Under the terms of the one-year agreement signed on March 1, 2023, Rocket Mortgage Canada and RESAAS will share the revenue generated via the partnership from all new mortgages, mortgage renewals and refinances.
About Rocket Mortgage Canada
Rocket Mortgage Canada is a digital mortgage broker and a part of Rocket Companies (NYSE: RKT). Rocket Companies is a Detroit-based holding company consisting of personal finance and consumer technology brands including Rocket Mortgage, LLC, one of the largest mortgage lenders in the U.S. Founded in 2020, Rocket Mortgage Canada aims to transform and modernize the mortgage experience in Canada by providing a streamlined process for individuals looking to purchase a home or refinance their mortgage. Rocket Mortgage Canada's mortgage agents aim to deliver the highest level of client service. For more information, or to apply for a mortgage, visit RocketMortgage.ca.
About RESAAS Services Inc.
RESAAS is an award-winning global technology platform for the real estate industry. With over 500,000 real estate agents utilizing RESAAS in 160 countries, RESAAS enables real-time industry communication, delivers new business opportunities and captures unique real estate data. Some of real estate's biggest brands leverage RESAAS to provide business intelligence to real estate brokerages, franchises and associations. For more information, please visit https://www.resaas.com.