REAL ESTATE INVESTMENT
Dalfen Industrial | January 12, 2022
Dalfen Industrial has acquired a 417,600 square foot industrial building in Lathrop, CA – a submarket within East Bay's Central Valley. The opportunity was sourced off-market and is 100% occupied with an additional 10.85 acres of prime developable land.
The property has a strategic last mile location with close proximity to I-5 as well as the Port of Stockton and the Union Pacific and BNSF Railroads. This location offers access to over 839,000 people within a 30-minute drive with a population that is growing at a rate 47% faster than the national average. Other companies in the area include Home Depot, Wayfair, Tesla, Amazon, DHL and Kraft.
Strong growth dynamics in this region have resulted in increasing industrial demand, making this a great addition to our west coast portfolio, The Central Valley is a major west coast distribution hub with same-day delivery capabilities to nearly 46 million people between San Francisco, Sacramento, Los Angeles, San Diego, and Las Vegas, and all the cities in between."
Rich Weiss, Market Officer for Dalfen.
This acquisition exemplifies our continued focus of adding strategically located west coast industrial assets to our portfolio in order to bolster our last mile fulfillment center footprint in the region markets."
Sean Dalfen, President and Chief Investment Officer at Dalfen Industrial.
About Dalfen Industrial
Dalfen Industrial is one of the nation's largest buyers of industrial real estate and is a leader in the last-mile property sector. Their investment focus is on strategically located urban infill warehouses and distribution buildings. Dalfen currently owns and operates millions of square feet of premier industrial properties throughout the United States.
REAL ESTATE TECHNOLOGY
Fathom Holdings Inc. | February 11, 2022
Fathom Holdings Inc. (NASDAQ: FTHM), a national, technology-driven, end-to-end real estate services platform integrating residential brokerage, mortgage, title, insurance, and SaaS offerings for brokerages and agents, today announced that it has acquired Utah-based iPro Realty Network, a full-service residential real estate brokerage company. The acquisition is expected to be immediately accretive. Other terms of the transaction were not disclosed.
iPro Realty Network is an award-winning real estate brokerage with approximately 435 agents that provides a full range of services for buyers and sellers throughout the state of Utah with market dominance in St. George, Cedar City, Orem, Salt Lake City, Clearfield, and Midway. The company was ranked #94 among independent brokerages according to the 2021 RealTrends 500.
I could not be prouder to have the iPro Realty family join our Fathom family, Utah boasts one of the country's fast-growing real estate markets, and we are pleased to be expanding our geographic presence through iPro, a company that values and strives for excellence. We are also proud to serve alongside iPro's leadership team, who shares our commitment to servant leadership as we build critical mass in existing local markets and expand into new markets across Utah. When we took Fathom public, we made a promise to strategically grow across all 50 states, and we continue to take steps to deliver on that promise."
Josh Harley, Fathom Holdings' Founder and CEO.
Our new Utah agents will have full access to Fathom's proprietary cloud-based software, intelliAgent, along with our powerful LiveBy platform, and will also benefit from having additional Fathom services to offer their clients, including mortgage, title, and insurance services, as we continue to help all our agents grow their businesses."
Samantha Giuggio, Chief Operating Officer for Fathom Realty.
iPro Realty Network generated more than $1.25 billion in residential sales volume in 2021 across more than 2,900 transactions. Like Fathom, iPro Realty Network offered a scalable, flat-fee, 100 percent commission structure.
Our agent-centric philosophy aligns very well with Fathom's servant-leadership culture, putting agents first so they can better serve their communities and clients, We are beyond thrilled to join the Fathom team and are committed to maximizing value by giving agents all the tools and resources they need to help them be more successful, from a feature-rich technology platform, to unbridled training and support, to a very attractive commission structure. It's these attributes that make Fathom a sought-after industry leader that not only helps retain agents but enables them to keep more of their hard-earned commissions, and ultimately continue to drive transactions in the Utah market."
Bill Telford, Founder of iPro Realty Network.
About Fathom Holdings Inc.
Fathom Holdings Inc. is a national, technology-driven, real estate services platform integrating residential brokerage, mortgage, title, insurance, and SaaS offerings to brokerages and agents by leveraging its proprietary cloud-based software, intelliAgent. The Company's brands include Fathom Realty, Dagley Insurance, Encompass Lending, intelliAgent, LiveBy, Real Results, and Verus Title.
REAL ESTATE INVESTMENT
Capital Square | May 25, 2022
Capital Square, a national real estate investor and an active developer of multifamily communities, announced the launch of Capital Square Multifamily Development Fund I, L.P. The fund seeks to raise up to $300 million in equity from institutional investors who will participate in the development of a portfolio of ground-up, multifamily real estate communities located in emerging secondary markets in the Mid-Atlantic and Southeast regions of the United States.
There is a shortage of quality housing that traces its origin to the Great Real Estate Recession. The shortage was exacerbated by the COVID-19 pandemic that delayed or halted many new developments. To accelerate the development of new Class A institutional-quality multifamily communities, the fund will focus on shovel-ready, ground-up sites. Capital Square is bullish on Class A multifamily investments that generate an unrivaled combination of stable cash flow, appreciation potential and inflation protection. Investors are flocking to the multifamily asset class."
Louis Rogers, Founder and Chief Executive Officer of Capital Square
Capital Square Multifamily Development Fund I continues Capital Square's focus on investing in quality multifamily assets that have an opportunity to provide outsized returns to investors. The fund will invest in the limited partner equity portion of the capital stack and will focus on emerging secondary growth markets (e.g., Richmond, Charleston, and Knoxville) that lack institutional capital investment, including Richmond, Virginian, Charleston, South Carolina, and Knoxville, Tennessee.
"The housing crisis in this country has created strengthening fundamentals in our target markets, and multifamily investment continues to provide strong opportunities for compelling risk-adjusted returns for investors and will do so for the foreseeable future," said Whitson Huffman, chief strategy and investment officer.
Capital Square Multifamily Development Fund I seeks to invest in more than $850 million of development projects. The portfolio is expected to be comprised primarily of multifamily developments sponsored by one of Capital Square's vetted joint venture development partners. Under its current growth strategy, Capital Square plans to launch additional multifamily development fund offerings approximately every two years.
Over the past 10 years, Capital Square has completed more than $5.6 billion in real estate transactions in emerging secondary markets, including the acquisition of 13,100 multifamily units. Additionally, Capital Square is currently developing eight multifamily projects totaling 1,954 units. The company has cultivated an extensive network of owners, developers, and commercial real estate brokers that provide comprehensive sourcing ability and market intelligence.
About Capital Square
Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges, qualified opportunity zone funds for tax deferral and exclusion and a real estate investment trust (REIT). In recent years the company has become an active developer of multifamily properties in the southeastern US, with eight current projects totaling approximately 2,000 apartment units with a total development cost in excess of $600 million. Since 2012, Capital Square has completed more than $5.6 billion in transaction volume. Capital Square's executive team has decades of experience in real estate investments. Capital Square's related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high-net-worth investors, private equity firms, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for four consecutive years. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense's list of fastest growing companies. Additionally, Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" report in 2019 and their "Fantastic 50" reports in 2019 and 2020.