U.S. Mortgage Applications Spike 18 Percent in Late March

Mortgage Bankers Association | April 03, 2019

U.S. Mortgage Applications Spike 18 Percent in Late March
According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending March 29, 2019, mortgage applications increased 18.6 percent from one week earlier.
The Market Composite Index, a measure of mortgage loan application volume, increased 18.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 18 percent compared with the previous week.

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REAL ESTATE INVESTMENT

Jetty Partners with Gables Residential

Gables Residential | September 18, 2021

Jetty, the financial services company on a mission to make renting a home more affordable and flexible, today announced a new partnership with Gables Residential, a leader in the management and development of multifamily apartment communities. Through the partnership, Gables will roll out Jetty's security deposit replacement solution, Jetty Deposit, across the entire Gables portfolio. The rollout follows a rigorous selection process by Gables, which started with a competitive evaluation before transitioning to a pilot program across Gables-owned assets. Following a successful pilot, Gables will now make Jetty Deposit available across all owned and third-party managed communities. The implementation of Jetty will enable Gables to maximize protection relative to security deposits for all new leases while at the same time dramatically lowering move-in costs for new residents. With so much uncertainty facing renters today, using hard-earned savings on a cash deposit simply doesn't make sense, Jetty Deposit offers renters the opportunity to keep more cash in their pocket while making it possible for us to improve NOI. Through the pilot program, we saw a meaningful uptick in lease conversions while significantly increasing our levels of protection. - Greg Gasior, Senior Vice President of Operations at Gables. Jetty works with top property managers across the country to increase lease conversion rates, reduce bad debt, and streamline operations—thereby increasing net operating income. In addition to Gables Residential, partners include Greystar, LivCor, Related, MG Properties, Cortland, Griffis Residential, and many more, representing more than two million units nationwide. About Gables Residential Gables Residential is an award-winning, vertically integrated, real estate company and privately held REIT specializing in the development, construction, ownership, acquisition, financing, and management of multifamily and mixed-use communities. Gables Residential owns, develops, and manages communities in high-growth U.S. markets such as Atlanta, Austin, Boston, Dallas, Denver, Houston, South Florida, Southern California and metropolitan Washington, D.C. Gables also provides third party management services in the New York, Baltimore, Frederick, Tampa, Phoenix, Seattle, Charlotte, Central and North Florida markets.Gables manages approximately 28,000 apartment homes and approximately 275,000 square feet of retail space and has received national recognition for excellence in development, construction, management, sales, marketing, training, and benefits. These achievements reflect the impact of Gables' experienced and dedicated team members, its superior knowledge of the markets served, and its expertise in development and management. ABOUT JETTY Jetty is the financial services platform on a mission to make renting a home more affordable and flexible. Jetty's integrated suite of products helps property managers increase lease conversions, improve resident retention, reduce bad debt, and boost NOI. For renters, Jetty decreases the financial burden of moving into a new home and offers greater flexibility with how and when to pay rent.

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REAL ESTATE TECHNOLOGY

GI Partners Announces Launch of GI Real Estate Essential Tech + Science Fund ("ETS Fund")

GI Partners | July 19, 2021

GI Partners, a leading private investment company, announced the launch of the GI Real Estate Essential Tech + Science Fund ("ETS Fund" or the "Fund"), which seeks to invest in real estate assets that continuously operate to support mission-critical functions of the technology and life sciences industries. The ETS Fund will acquire data center properties, life sciences assets, and always-on R&D facilities in the office and industrial sectors. GI Partners, founded in 2001, has focused on downside-protected growth investment across all of its strategies, with a special focus on technology and healthcare. The ETS Fund aims to maintain the Firm's strategy of investing in specialized opportunities in critical technology and scientific real estate using the Firm's combined technology, life sciences, and real estate skillsets. The ETS Fund is headed by former Infomart President John Sheputis and over 20 investment and management professionals. The ETS Fund has been aggressively investing in a broad portfolio of data centers, life sciences assets, and R&D facilities throughout the United States since its inception in early 2021, including: • Walsh-Bowers Assemblage, a portfolio of three buildings in Silicon Valley's primary data center hub; • Mt. Eden Research Park, a six-building life sciences campus in the San Francisco Bay area whose current tenants are pioneers in their respective areas and position the asset well for future life sciences growth; • The Pointe, a pair of life sciences buildings next to a quickly maturing Bay Area of life sciences submarket; • 3701 Market St., a purpose-built lab and R&D facility with high-quality wet lab, research, medical office, and data center space. About GI Partners GI Partners, founded in 2001, is a private investment company with approximately 100 employees headquartered in San Francisco, California, and offices in New York, Chicago, Greenwich, Connecticut, and Scottsdale, Arizona. Over $28 billion in capital has been raised by the company from top institutional investors worldwide to invest in private equity, real estate, and data infrastructure initiatives. The private equity team mainly invests in healthcare, IT infrastructure, services, and software companies. The real estate team specializes in technology and life sciences properties and other kinds of specialty real estate. Finally, the data infrastructure team mainly invests in hard asset infrastructure companies that support the digital economy. GI Partners is a signatory to the Principles for Responsible Investment, a network of international investors backed by the United Nations, and a Global Real Estate Sustainability Benchmark participant.

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REAL ESTATE INVESTMENT

Capital Square 1031 Acquires Recently Constructed Multifamily Community Near Kansas City for DST Offering

Capital Square | January 21, 2022

Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced today the acquisition of a Class A, 237-unit multifamily community in Olathe, a city within the Kansas City metropolitan area. The community was acquired on behalf of CS1031 Villas at Ridgeview Falls Apartments, DST. Villas at Ridgeview Falls is the next in the line of highly-amenitized, newly constructed, Class A apartment communities acquired by Capital Square for the 1031/DST program, Capital Square was drawn to the location of this property – Olathe, the seat of Johnson County, 20 miles southwest of Kansas City, where the economy is strong, with 4.4% job growth and a 3.5% unemployment rate as of September 2021.1 The property should provide investors with stable income during the holding period and exceptional appreciation potential." Louis Rogers founder and chief executive officer of Capital Square. Located at 11835 S. Fellows St., the community is located in the southwest corner of the Kansas City, MO-KS Metropolitan Statistical Area. The property's location near major highways and interstates provides residents with convenient access to Kansas City employment centers. Additionally, Villas at Ridgeview Falls is located within walking distance of many convenience and grocery stores, as well as dining options. Completed in 2020, the community offers spacious one- and two-bedroom units with top-of-the-line finishes and an average square footage of 1,046 square feet. Amenities at the community include a resort-style saltwater pool, an in-pool tanning deck, a poolside television and lounge, poolside pergola, lounge area with a fireplace, rooftop retreat, golf green, yoga area, walking trail with outdoor fitness equipment and 24-hour fitness center with a yoga studio. Additional amenities include an indoor mail room, a media room, gourmet coffee and tea bar, cybercafé, social lounge, guest suite, garages and carports as well as a pet spa. CS1031 Villas at Ridgeview Falls Apartments, DST seeks to raise $35.2 million in equity from accredited investors and has a minimum investment requirement of $50,000. The proximity to grocery stores and dining options, as well as Kansas City employment centers, coupled with its top-of-the-line features, make this community an ideal investment property for our growing portfolio of multifamily properties, The submarket has ideal fundamentals that match exceptionally well with Capital Square's multifamily acquisition criteria. For example, the population within a five-mile radius of the property is projected to increase 4.4% in five years and the average annual rent growth in the submarket is projected to grow 3.78% from 2021 to 2026." Whitson Huffman, chief strategy and investment officer. Capital Square acquired the property from J.A. Murphy Group, which was represented by Colliers' Will Mathews. It's an honor to represent our friends and clients at J.A. Murphy Group on a landmark sale in fast-growing Olathe, Kansas, Congratulations and many thanks to the buyer, Capital Square, on their continued success and dedication to a seamless year-end close!" Mathews. Since its founding in 2012, Capital Square has acquired 146 real estate assets for over 3,800 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable cash flow and capital appreciation. 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 and qualified opportunity zone funds for tax deferral and exclusion. Since 2012, Capital Square has completed more than $4.2 billion in transaction volume. Capital Square's executive team has decades of experience in real estate investments. Its founder, Louis Rogers, has structured hundreds of investment offerings totaling in excess of $5 billion. 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 five consecutive years. Additionally, in 2021, the company was ranked 101st on the list of Inc. 5000 Washington D.C. Metro's Fastest-Growing Private Companies. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense's list of fastest growing companies. Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" report in 2019 and 2021 as well as on their "Fantastic 50" reports in 2019 and 2020.

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Spotlight

Judging from recent numbers, businesses and entrepreneurs are jumping on the crowdfunding bandwagon in record numbers. Here are some tips on how to make sure your campaign in a success.