REAL ESTATE TECHNOLOGY
businesswire | December 08, 2020
Mack Real Estate Group (MREG) declared the dispatch of NEXT Property Management, another outsider property the executives administration offering zeroed in on giving the greatest administration administrations to proprietors of multifamily and office properties cross country. NEXT is important for the Mack Property Management L.P. specialty unit (MPM), which gives property the executives administrations to MREG's developing arrangement of land ventures.
“With the launch of NEXT Property Management, we mark the latest step in the larger process of rebranding, reorganizing, and expanding property management services within the context of the overall MREG platform,” said Richard Mack, CEO of MREG. “We believe that our extensive experience with property ownership will be valuable to other owners who choose NEXT for management services, and we look forward to expanding the NEXT portfolio in the coming years.”
NEXT Property Management is focused on sending key arrangements related to new innovation for property the executives to offer open doors for more noteworthy proficiency and better help. "We are expecting coherence of present day advances and best practices across both the NEXT outsider administration portfolio and the MPM claimed portfolio, as we reliably endeavor to be the best," said Jennifer Willstead, President of MPM.
Jeff Cruz has been selected Vice President of Business Development for NEXT and will be accused of developing the pipeline of outsider administration business. "Jeff has driven a fruitful profession in multi-family traversing more than twenty years and numerous business sectors, and was a characteristic decision to lead our development plan for NEXT," Ms. Willstead added.
MPM (counting NEXT) is settled in Phoenix, AZ. NEXT and MPM depend on the skill of veteran colleagues and a solid comprehension of market essentials and industry patterns toward accomplishing the objectives of expanding resource execution, improving worth, and conveying strong monetary outcomes. They use arising advances and administration driven applications to convey imaginative arrangements, and utilize a set-up of help administrations to improve proficiency.
Mack Property Management was formerly known as Winthrop Property Management. The rebranding was announced September 1, 2020. In October, Mack Property Management officially relocated its head offices to Phoenix and hired Robert J. Matthews as Senior Vice President of Finance and Accounting.
“We believe that centralizing our operations in the Phoenix area enables us to enhance our services for the NEXT and MPM portfolios, and to strategically position us for further expansion in both coastal and mid-country markets,” said Ms. Willstead. “Our team is excited for this new start out of our Phoenix office, which we expect to be our launching pad for significant growth. In addition to this new command center, we will continue to have resources in multiple markets to help align with operational needs and ensure proper support during core business hours, regardless of time zone.”
REAL ESTATE INVESTMENT
Modulaire Group | November 19, 2021
Modulaire Group, a leading business services company specialising in modular space, is pleased to announce it has agreed to acquire Alquibalat, S.L. ("Balat") in Spain.
Based in Pamplona, Balat is a leader in the Spanish market for the rent and sale of modular buildings, with a strong presence in the construction sector. It operates over 15,000 units from 15 sites in Spain and Portugal, including in Madrid, Barcelona, Bilbao, Coruna, Malaga, Seville, and Valencia.
Balat had revenues of €32 million in 2020 and has approximately 165 employees. The transaction, which remains subject to review by the CNMC, the Spanish competition authority, is expected to close by Spring 2022.
"We are delighted to confirm the transaction with Balat, a leader in modular buildings in the growing Spanish market. The strength of the business is a testament to the experience and hard work of Management. I look forward to working with the team."
- Mark Higson, Modulaire Group's Chief Executive Officer
"We believe the takeover by Modulaire Group will strengthen the future of Balat, support the next phases of growth and provide Balat's team further opportunities to grow their careers. We would like to take this opportunity to thank our professionals for their hard work and commitment in developing Balat's business."
- Rafael Baranda, Chief Executive Officer of Balat
The acquisition of Balat will be Modulaire Group's fourth acquisition in 2021 and the tenth acquisition worldwide since the beginning of 2020. A targeted acquisition strategy remains one of Modulaire Group's four strategic objectives, alongside an efficient cost base, a focus on optimising sales and granular management of branch level performance, and effective capital investment.
About Modulaire Group
Modulaire Group is a leader in European modular services and infrastructure. We create smart spaces for people to live, work and learn. Our business is designed to help customers find the right space solution, no matter what their requirements. Modulaire Group has operations in 25 countries with approximately 267,000 modular space and portable storage units and 4,400 remote accommodations rooms. The company operates as Algeco in Europe and Scandinavia, Elliott, Advanté, Carter and Procomm in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in The Netherlands, Tecnifor and Locabox in Italy, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.
REAL ESTATE TECHNOLOGY
OrbVest | May 22, 2021
OrbVest, a global real estate company that invests in US income-producing medical commercial real estate recently closed its purchase of Talavi Spectrum, a 75,636-square-foot office property located in Glendale, Arizona for $13,000,000.
“We are actively checking out medical office buildings in Arizona to enrich our current portfolio, and therefore the Talavi building provides us with an ideal opportunity to re-establish the building as a prestigious medical office. We were particularly interested in the high-quality construction, business park location, and therefore the strong demographic trends we are seeing within the Northwest Valley,” said Martin Freeman, OrbVest CEO.
Talavi Spectrum is found at 5701 West Talavi Boulevard in Phoenix, Arizona during a strong market with limited future development opportunities. it's a two-story, 74,662-square-foot, multi-tenant office block that was 88% occupied at the time of sale. Originally developed in 2002 by The OPUS Group on 5.73 acres, the category A property features high-quality construction, functional floor plates, interior improvements, and a singular campus-style setting within the 67-acre Talavi Business Park.
Talavi Spectrum is well-positioned south of Bell Road – one among the foremost popular roadways in Phoenix. Talavi Spectrum is conveniently located but two miles from the Loop 101 Freeway and is adjacent to retail properties like Talavi Towne Centre (anchored by a Walmart Supercenter), Sprouts Center, and Glendale market square.
Talavi Spectrum is OrbVest’s second acquisition within the greater Phoenix metropolitan area. Earlier in Q1, OrbVest closed on 555 North 18th Street, a 49,751-square-foot, multi-tenant class A medical office block. “OrbVest’s expansion into Arizona is driven by the basics that underpin value growth, most notably Phoenix is already the fifth-largest city within us and growing rapidly. Population migration and business expansion buoyed by low population density and lower cost of living position Phoenix for long-term, post-pandemic growth,” says Freeman.
Talavi Spectrum is OrbVest’s fourth acquisition since the beginning of 2021, securing its third property in Princeton, New Jersey, a medical and office block comprising 40,028 square feet of rentable space; a 76,771-square-foot medical office block in Fleming Island, Florida; and an 11,852-square-foot Great Expressions Dental Centers office situated on 1.15 acres in Fayetteville, Georgia.
OrbVest is actively seeking additional medical office block investments across the U.S in an attempt to scale back concentration risk and supply enhanced diversification for its investors.
OrbVest is a global real estate company that invests in the U.S income-producing medical commercial real estate. Within seven years, OrbVest has achieved a portfolio of over a million square feet representing >$300m real estate under management (REUM) with a 65% reinvestment rate.
OrbVest’s goal is to form investing in global land simple for little and enormous investors who are ready to invest from as little as $5,000. Clients use a convenient online platform to take a position directly into low-risk commercial assets, primarily within the Healthcare niche. The investments generate regular dividends (±8% per annum) that are distributed every quarter creating annuity income and long-term wealth over the amount of investment. (Targeted IRR of 11% to 17%).