Home > News > featured news > Venterra Realty Acquires Houston Multi-Family Community

REAL ESTATE INVESTMENT

Venterra Realty Acquires Houston Multi-Family Community

Venterra Realty | January 11, 2022

Venterra_Realty_Acquires
Venterra Realty acquired Stoneridge on the 8, formerly Advenir at Stone Park, in Houston, TX.

The 480-unit, three-story multifamily community was built in two separate phases in 2004 and 2007. Located along Beltway 8 in Houston, Stoneridge offers excellent connectivity to its residents, within 1.5 miles of two other major highways, Interstate-10 and Highway 90. The Port of Houston, about 6 miles from the property, is one of the leading employment drivers in the Houston Metro area and serves as the epicenter of the petrochemical industry in the U.S.

The property provides renters with an extensive amenity package, including two resort-inspired swimming pools, an around-the-clock fitness center, a resident game room, detached garages, additional covered parking and bark parks for small and large pets. The community offers modern finishes with black or stainless-steel appliances, oversized closets, garden tubs, double sink vanities, and private patios or balconies perfect for enjoying neighborhood views.

Houston is one of the fast-growing metropolitan areas in the United States, with its population growing 20.3% from 2010 to 2020 ranking top three nationwide. So Stoneridge on the 8 is naturally a valuable investment to be added to the growing Venterra portfolio in this top-performing market." 

Venterra Realty Chairman, Andrew Stewart.

Venterra will implement its resident-focused programs such as the Live it. Love it. Guarantee.TM, the 48-Hour Maintenance Guarantee, SMARTLEASING, as well as their overall commitment to providing a world-class living experience for which Venterra has become known.

Houston is our headquarters and the city that housed the first properties Venterra managed over 20 years ago. We have seen first-hand the growth potential for this area of the country and are excited to expand our portfolio in a city we are confident will provide great return on investments, This property in particular offers significant opportunity and will benefit substantially from the completion of a unit upgrade program, the addition of the SMARTHOME technology package, and the deployment of Venterra's customer-focused management platform."

John Foresi, CEO of Venterra Realty.

About Venterra:
Founded in 2001, Venterra Realty owns and manages approximately 70 communities and more than 20,000 apartment units across 13 major US cities that provide housing to over 40,000 people and 12,000 pets. The organization has completed $7.2 billion in real estate transactions and currently manages a portfolio of multi-family real estate assets valued at approximately $4.0 billion. Venterra is committed to improving the lives of its residents by delivering industry-leading customer experience.

Spotlight

The New Traditional Asset Class

For generations, public markets have been the beating heart of capitalism, reaching their zenith in the latter part of 20th Century, when stock markets in Wall Street, the City of London, Hong Kong, and others were the great centers of capital raising, corporate investment and growth.

More featured news

Spotlight

The New Traditional Asset Class

For generations, public markets have been the beating heart of capitalism, reaching their zenith in the latter part of 20th Century, when stock markets in Wall Street, the City of London, Hong Kong, and others were the great centers of capital raising, corporate investment and growth.

Related News

MORTGAGE AND LENDING, ASSET MANAGEMENT

Planet Home Lending Acquires Platinum Home Mortgage Corp. Branches

PRnewswire | June 02, 2023

Planet Home Lending, LLC, a national mortgage lender and servicer, announced the asset acquisition of retail lender Platinum Home Mortgage Corporation, Hoffman Estates, Illinois. Planet will acquire the majority of Platinum's origination staff, including more than 20 branch offices in strategic locations throughout the United States. "We look to acquire right-sized, financially solid distributed retail companies," said Michael Dubeck, CEO and President of Planet Financial Group, parent of Planet Home Lending. "Platinum is a solid cultural fit. Its talented, highly experienced people share our commitment to delivering exceptional lending experiences supported by deep personal care for borrowers." Planet expects to continue gaining market share through organic growth and strategic acquisitions. The Platinum acquisition brings to Planet a purchase-focused platform and high-producing branches, expanding the company's footprint in Midwest, Northwest, and West Coast markets. Planet is now #9 on Inside Mortgage Finance's overall lender leaderboard and #4 among government loan producers. "The move to Planet brings immediate access to improved pricing, technology, and marketing to Platinum's branches," said Platinum CEO and President Lee M. Gross. Gross will join Planet as Senior Vice President and will continue to lead the Platinum team at Planet. "Planet's efficient platform gives us the pricing advantage of $26 billion in volume," Gross said. "In addition to agency and GSE home loans, Planet also has niche products tailored to today's tight real estate markets, including self-funded One-Time Close (OTC) construction loans as well as manufactured housing and renovation mortgage loans." Platinum's former President and CEO Bill Giambrone, along with his brother Michael Giambrone, founded the company in 1993. Bill Giambrone's illustrious 30-year career as an independent mortgage banker includes remarkable contributions to the industry, highlighted by his service as a board member and past president of the Community Home Lenders Association. About Planet Financial Group, LLC Planet Financial Group, LLC, Meriden, Connecticut, is a fully integrated family of companies delivering innovative origination, servicing and asset management solutions. Through this synergistic ecosystem of products, services and technologies, Planet Financial Group provides best-in-class experiences for investors pursuing value maximization and borrowers seeking streamlined end-to-end loan lifecycle support. Planet Financial Group is the parent of Planet Home Lending, LLC and Planet Management Group, LLC, which also does business under the name Planet Renovation Capital. About Planet Home Lending, LLC Planet Home Lending, LLC, Meriden, Connecticut, (NMLS #17022) is an approved originator and servicer for FHA, VA and USDA, as well as a Freddie Mac and Fannie Mae Seller/Servicer, a full Ginnie Mae Issuer and approved sub-servicer and a Standard & Poor's Global Ratings- and Fitch Ratings-rated special and prime residential servicer. Planet Home Lending, LLC has been assigned a corporate family rating by Moody's Investors Service viewable at www.moodys.com. Its correspondent division offers a full suite of government, agency and niche home loans. Planet Home Lending, LLC is also a special servicer managing diverse investor portfolios. Its customized servicing solutions maximize asset recovery and optimize performance through active management at the portfolio and loan levels. Planet Home Lending, LLC is an Equal Housing Lender. For more information about Planet Home Lending, LLC,

Read More

REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT

GIC and Pagaya Technologies Extend Their Strategic Partnership for Years to Come

Businesswire | April 11, 2023

Pagaya Technologies Ltd. (NASDAQ: PGY) ("Pagaya"), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, with GIC, one of the world’s leading global institutional investors, announced today that they have strengthened their strategic partnership. GIC and Pagaya extended their existing funding agreement earlier this week, by which GIC invests in the Company’s financing vehicles, for an additional 3 years on top of the original 5-year term, on the same terms as the existing agreement. Additionally, last week, GIC increased its holding of PGY Class A ordinary shares to approximately 9% of Pagaya’s outstanding Class A shares as of March 31, 2023. GIC is one of Pagaya’s top shareholders and has supported Pagaya’s ability to deliver a comprehensive, one-stop solution for institutional investors to invest at scale in consumer credit and real estate assets originated by more than 25 financial institutions and growing. Pagaya is at the forefront of leveraging AI and advanced analytics to differentiate in a highly competitive environment and both GIC and Pagaya believe that building smarter financial infrastructure leads to better, more inclusive asset selection. At a time when liquidity is scarce, AI ensures the delivery of high-quality investments at scale. “GIC is pleased to continue investing in Pagaya as the company expands its financial products through the use of AI technology. With its innovative business model and differentiated performance in challenging market conditions, we believe that Pagaya is well-positioned to create long-term value for investors,” said Tzu Mi Liew, Chief Investment Officer of Fixed Income and Multi Asset of GIC. “We are pleased to continue our ongoing partnership with GIC, who has played an important role in the rapid growth of our network over the past few years. As one of the world’s largest and most sophisticated investment firms, GIC recognizes the power of AI technology driving future opportunity for investors and Pagaya is fortunate to have their confidence and support,” said Gal Krubiner, co-founder and CEO of Pagaya. “This is a long-term strategic relationship for us that we hope to continue for decades to come.” About GIC GIC is a leading global investment firm established in 1981 to secure Singapore’s financial future. As the manager of Singapore’s foreign reserves, GIC takes a long-term, disciplined approach to investing, and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. The firm’s long-term approach, multi-asset capabilities, and global connectivity enable them to be an investor of choice. GIC seeks to add meaningful value to its investments. Headquartered in Singapore, GIC has a global talent force of over 1,900 people in 11 key financial cities and has investments in over 40 countries. Further information is available at https://www.gic.com.sg. About Pagaya Technologies Pagaya (NASDAQ: PGY) is a global technology company making life-changing financial products and services available to more people nationwide. By using machine learning, a vast data network and a sophisticated AI-driven approach, Pagaya provides comprehensive consumer credit and residential real estate solutions for its partners, their customers, and investors. Its proprietary API and capital solutions integrate into its network of partners to deliver seamless user experiences and greater access to the mainstream economy. Pagaya has offices in New York and Tel Aviv. For more information, visit pagaya.com.

Read More

REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT

EasyKnock Acquires Leading Homebuying Solution Ribbon Home

Businesswire | May 09, 2023

EasyKnock, the first technology-enabled residential sale-leaseback platform, today announced its acquisition of Ribbon, a pioneer of powerbuying and cash offer solutions. The transaction is a major milestone for the real estate industry, bringing together homebuying, homeselling, and agent solutions into one unified and simplified experience. “We are thrilled to bring Ribbon and EasyKnock’s cutting edge financial products together under one roof to provide more options and a competitive advantage to consumers and industry partners nation-wide,” said Jarred Kessler, CEO and co-founder of EasyKnock. “This marks the beginning of a new wave of innovation in the real estate sector, the advent of PropTech 3.0. By combining these product suites and offering solutions for every stop along the homeownership journey, we are better positioned to responsibly empower more families with the financial flexibility and control they need to achieve their goals.” In bringing the teams together, EasyKnock is accelerating the development of its marketplace planned to launch later this year; a new, more fulsome suite of products and services that will offer consumers alternative ways to buy and sell, finance new homes, and utilize their equity in one place. Recognizing that a new way is needed, the marketplace will benefit everyday Americans with convenience, cost savings, and the competitive edge afforded by the combination of multiple services, positively impacting not only existing and prospective homeowners, but the industry altogether. “Making homeownership achievable has been Ribbon’s mission and guiding light since its inception. EasyKnock and Ribbon share a vision of enhancing consumer choice in the industry, facilitating its success and enabling a more simplified buying and selling experience.” said Shaival Shah, CEO and co-founder of Ribbon. “We are thrilled to come together with EasyKnock and their pioneering sale-leaseback offering to provide solutions to more and more people. Combined with Ribbon’s award-winning homebuying solutions and network of 90,000 agents and lenders, we are motivated to empower consumers across the country.” Both EasyKnock and Ribbon have forged strong partnerships in residential real estate by using best-in–class technology that connects consumers with loan officers, real estate agents, and other participants in the homebuying and home selling experience. Following the acquisition, the EasyKnock and Ribbon teams will work with strategic partners to bring their expanded product suite to key markets with an eye towards national expansion. Goodwin Proctor, a global law firm, acted as legal advisor and Temple View Capital, a Bethesda, Maryland-based business purpose lender, provided financing on the transaction. Terms were not disclosed. About EasyKnock EasyKnock is the first-to-market, technology-enabled residential sale-leaseback company in the U.S. Through innovative and accessible solutions, American homeowners who sell their property to EasyKnock can remain in their homes as renters while still getting the cash they need to pursue their financial goals. Headquartered in New York City and founded in 2016, EasyKnock has team members nationwide working to help homeowners unlock their financial freedom through non-loan programs so they can pay off debts, buy their dream home, fund a venture, and more - all while maintaining the ability to stay in their homes and communities. For more information, please visit www.easyknock.com. About Ribbon Founded in 2017 in New York and Charlotte, Ribbon is on a mission to make homeownership achievable. Ribbon allows everyday families to compete on a level playing field with high-net-worth individuals and institutional buyers by upgrading their offers to winning RibbonCash Offers. As the leading real estate technology platform, Ribbon empowers agents, brokerages, and lenders to create a world-class experience for homebuyers and sellers through powerful financial products and digital workflow software.

Read More

MORTGAGE AND LENDING, ASSET MANAGEMENT

Planet Home Lending Acquires Platinum Home Mortgage Corp. Branches

PRnewswire | June 02, 2023

Planet Home Lending, LLC, a national mortgage lender and servicer, announced the asset acquisition of retail lender Platinum Home Mortgage Corporation, Hoffman Estates, Illinois. Planet will acquire the majority of Platinum's origination staff, including more than 20 branch offices in strategic locations throughout the United States. "We look to acquire right-sized, financially solid distributed retail companies," said Michael Dubeck, CEO and President of Planet Financial Group, parent of Planet Home Lending. "Platinum is a solid cultural fit. Its talented, highly experienced people share our commitment to delivering exceptional lending experiences supported by deep personal care for borrowers." Planet expects to continue gaining market share through organic growth and strategic acquisitions. The Platinum acquisition brings to Planet a purchase-focused platform and high-producing branches, expanding the company's footprint in Midwest, Northwest, and West Coast markets. Planet is now #9 on Inside Mortgage Finance's overall lender leaderboard and #4 among government loan producers. "The move to Planet brings immediate access to improved pricing, technology, and marketing to Platinum's branches," said Platinum CEO and President Lee M. Gross. Gross will join Planet as Senior Vice President and will continue to lead the Platinum team at Planet. "Planet's efficient platform gives us the pricing advantage of $26 billion in volume," Gross said. "In addition to agency and GSE home loans, Planet also has niche products tailored to today's tight real estate markets, including self-funded One-Time Close (OTC) construction loans as well as manufactured housing and renovation mortgage loans." Platinum's former President and CEO Bill Giambrone, along with his brother Michael Giambrone, founded the company in 1993. Bill Giambrone's illustrious 30-year career as an independent mortgage banker includes remarkable contributions to the industry, highlighted by his service as a board member and past president of the Community Home Lenders Association. About Planet Financial Group, LLC Planet Financial Group, LLC, Meriden, Connecticut, is a fully integrated family of companies delivering innovative origination, servicing and asset management solutions. Through this synergistic ecosystem of products, services and technologies, Planet Financial Group provides best-in-class experiences for investors pursuing value maximization and borrowers seeking streamlined end-to-end loan lifecycle support. Planet Financial Group is the parent of Planet Home Lending, LLC and Planet Management Group, LLC, which also does business under the name Planet Renovation Capital. About Planet Home Lending, LLC Planet Home Lending, LLC, Meriden, Connecticut, (NMLS #17022) is an approved originator and servicer for FHA, VA and USDA, as well as a Freddie Mac and Fannie Mae Seller/Servicer, a full Ginnie Mae Issuer and approved sub-servicer and a Standard & Poor's Global Ratings- and Fitch Ratings-rated special and prime residential servicer. Planet Home Lending, LLC has been assigned a corporate family rating by Moody's Investors Service viewable at www.moodys.com. Its correspondent division offers a full suite of government, agency and niche home loans. Planet Home Lending, LLC is also a special servicer managing diverse investor portfolios. Its customized servicing solutions maximize asset recovery and optimize performance through active management at the portfolio and loan levels. Planet Home Lending, LLC is an Equal Housing Lender. For more information about Planet Home Lending, LLC,

Read More

REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT

GIC and Pagaya Technologies Extend Their Strategic Partnership for Years to Come

Businesswire | April 11, 2023

Pagaya Technologies Ltd. (NASDAQ: PGY) ("Pagaya"), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, with GIC, one of the world’s leading global institutional investors, announced today that they have strengthened their strategic partnership. GIC and Pagaya extended their existing funding agreement earlier this week, by which GIC invests in the Company’s financing vehicles, for an additional 3 years on top of the original 5-year term, on the same terms as the existing agreement. Additionally, last week, GIC increased its holding of PGY Class A ordinary shares to approximately 9% of Pagaya’s outstanding Class A shares as of March 31, 2023. GIC is one of Pagaya’s top shareholders and has supported Pagaya’s ability to deliver a comprehensive, one-stop solution for institutional investors to invest at scale in consumer credit and real estate assets originated by more than 25 financial institutions and growing. Pagaya is at the forefront of leveraging AI and advanced analytics to differentiate in a highly competitive environment and both GIC and Pagaya believe that building smarter financial infrastructure leads to better, more inclusive asset selection. At a time when liquidity is scarce, AI ensures the delivery of high-quality investments at scale. “GIC is pleased to continue investing in Pagaya as the company expands its financial products through the use of AI technology. With its innovative business model and differentiated performance in challenging market conditions, we believe that Pagaya is well-positioned to create long-term value for investors,” said Tzu Mi Liew, Chief Investment Officer of Fixed Income and Multi Asset of GIC. “We are pleased to continue our ongoing partnership with GIC, who has played an important role in the rapid growth of our network over the past few years. As one of the world’s largest and most sophisticated investment firms, GIC recognizes the power of AI technology driving future opportunity for investors and Pagaya is fortunate to have their confidence and support,” said Gal Krubiner, co-founder and CEO of Pagaya. “This is a long-term strategic relationship for us that we hope to continue for decades to come.” About GIC GIC is a leading global investment firm established in 1981 to secure Singapore’s financial future. As the manager of Singapore’s foreign reserves, GIC takes a long-term, disciplined approach to investing, and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. The firm’s long-term approach, multi-asset capabilities, and global connectivity enable them to be an investor of choice. GIC seeks to add meaningful value to its investments. Headquartered in Singapore, GIC has a global talent force of over 1,900 people in 11 key financial cities and has investments in over 40 countries. Further information is available at https://www.gic.com.sg. About Pagaya Technologies Pagaya (NASDAQ: PGY) is a global technology company making life-changing financial products and services available to more people nationwide. By using machine learning, a vast data network and a sophisticated AI-driven approach, Pagaya provides comprehensive consumer credit and residential real estate solutions for its partners, their customers, and investors. Its proprietary API and capital solutions integrate into its network of partners to deliver seamless user experiences and greater access to the mainstream economy. Pagaya has offices in New York and Tel Aviv. For more information, visit pagaya.com.

Read More

REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT

EasyKnock Acquires Leading Homebuying Solution Ribbon Home

Businesswire | May 09, 2023

EasyKnock, the first technology-enabled residential sale-leaseback platform, today announced its acquisition of Ribbon, a pioneer of powerbuying and cash offer solutions. The transaction is a major milestone for the real estate industry, bringing together homebuying, homeselling, and agent solutions into one unified and simplified experience. “We are thrilled to bring Ribbon and EasyKnock’s cutting edge financial products together under one roof to provide more options and a competitive advantage to consumers and industry partners nation-wide,” said Jarred Kessler, CEO and co-founder of EasyKnock. “This marks the beginning of a new wave of innovation in the real estate sector, the advent of PropTech 3.0. By combining these product suites and offering solutions for every stop along the homeownership journey, we are better positioned to responsibly empower more families with the financial flexibility and control they need to achieve their goals.” In bringing the teams together, EasyKnock is accelerating the development of its marketplace planned to launch later this year; a new, more fulsome suite of products and services that will offer consumers alternative ways to buy and sell, finance new homes, and utilize their equity in one place. Recognizing that a new way is needed, the marketplace will benefit everyday Americans with convenience, cost savings, and the competitive edge afforded by the combination of multiple services, positively impacting not only existing and prospective homeowners, but the industry altogether. “Making homeownership achievable has been Ribbon’s mission and guiding light since its inception. EasyKnock and Ribbon share a vision of enhancing consumer choice in the industry, facilitating its success and enabling a more simplified buying and selling experience.” said Shaival Shah, CEO and co-founder of Ribbon. “We are thrilled to come together with EasyKnock and their pioneering sale-leaseback offering to provide solutions to more and more people. Combined with Ribbon’s award-winning homebuying solutions and network of 90,000 agents and lenders, we are motivated to empower consumers across the country.” Both EasyKnock and Ribbon have forged strong partnerships in residential real estate by using best-in–class technology that connects consumers with loan officers, real estate agents, and other participants in the homebuying and home selling experience. Following the acquisition, the EasyKnock and Ribbon teams will work with strategic partners to bring their expanded product suite to key markets with an eye towards national expansion. Goodwin Proctor, a global law firm, acted as legal advisor and Temple View Capital, a Bethesda, Maryland-based business purpose lender, provided financing on the transaction. Terms were not disclosed. About EasyKnock EasyKnock is the first-to-market, technology-enabled residential sale-leaseback company in the U.S. Through innovative and accessible solutions, American homeowners who sell their property to EasyKnock can remain in their homes as renters while still getting the cash they need to pursue their financial goals. Headquartered in New York City and founded in 2016, EasyKnock has team members nationwide working to help homeowners unlock their financial freedom through non-loan programs so they can pay off debts, buy their dream home, fund a venture, and more - all while maintaining the ability to stay in their homes and communities. For more information, please visit www.easyknock.com. About Ribbon Founded in 2017 in New York and Charlotte, Ribbon is on a mission to make homeownership achievable. Ribbon allows everyday families to compete on a level playing field with high-net-worth individuals and institutional buyers by upgrading their offers to winning RibbonCash Offers. As the leading real estate technology platform, Ribbon empowers agents, brokerages, and lenders to create a world-class experience for homebuyers and sellers through powerful financial products and digital workflow software.

Read More

More featured news