Waterton Moves into Nashville With $140M Buy

Multi-Housing News | February 07, 2020

National multifamily manager Waterton has ventured into Nashville’s booming apartment market by adding a 994-unit development to its $5.6 billion real estate platform, marking one of the city’s largest property deals in recent years. Although Waterton did not disclose the deal price, Davidson County records lists it as $140 million. That price tag far outstrips the $101.5 million that CBRE Global Investors paid in mid-2019 for The Gossett on Church, a modern 367-unit community in downtown Nashville. The community, Nashboro Village, is located a few miles south of Nashville International Airport and consists of 69 low-rise buildings across five phases, completed between 1974 and 1987. The previous owner, Starwood Capital Group, acquired the asset as part of a $2.9 billion nationwide portfolio transaction from The Milestone Group in April 2017, according to Yardi Matrix.

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Property manager can work for a larger property management firm or independently. Property managers serve as go-betweens when issues about property maintenance occur, and the manager will then handle the problem by contacting the appropriate people Landlords are responsible for finding, screening.

Spotlight

Property manager can work for a larger property management firm or independently. Property managers serve as go-betweens when issues about property maintenance occur, and the manager will then handle the problem by contacting the appropriate people Landlords are responsible for finding, screening.

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INVESTMENTS

Capital Square 1031 Acquires Luxury, Mixed-Use, Class A Multifamily Community in Fast-Growing Submarket of Jacksonville, Florida

Capital Square | January 25, 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 10-story, luxury, mixed-use, Class A multifamily community in Jacksonville, Florida. The community was acquired on behalf of CS1031 Vista Brooklyn Apartments, DST. Vista Brooklyn Apartments is an excellent acquisition for Capital Square's 1031/DST program, Jacksonville is ranked number one in Florida for multifamily rent growth, with 17.4% year-over-year rent growth during the second quarter of 2021.1 It is hard to imagine a better market for stable income and capital appreciation." Louis Rogers, founder and chief executive officer of Capital Square. Located at 200 Riverside Ave., Vista Brooklyn features 308 units and 12,685 square feet of ground-floor retail space. Completed in 2021, the community is situated one mile southwest of downtown Jacksonville on the banks of the St. Johns River and within Jacksonville's historic and fast-growing Brooklyn/Riverside submarket, according to Yardi Matrix. The community offers one-, two- and three-bedroom units with high-end finishes, including fully equipped GE kitchens with quartz countertops, custom cabinets, subway tile kitchen backsplashes and more. Amenities at the community include a rooftop beer garden, a rooftop pool deck with a heated saltwater pool and outdoor grills, co-working and meeting spaces with pre-installed televisions for device connectivity, a top-floor clubroom with a gaming area and outdoor access, a secure package delivery room and a coffee bar. Additional amenities include a bicycle storage room, a meditation room with Somadome meditation pods, a fitness center with Technogym equipment, a spin suite and Wellbeats on-demand workout classes, a dog park and pet grooming room, and a courtyard with lounges, grilling stations, a dining area and outdoor games. CS1031 Vista Brooklyn Apartments, DST seeks to raise $63.7 million in equity from accredited investors and has a minimum investment requirement of $50,000. Vista Brooklyn is located in one of the premier submarkets within the Jacksonville MSA, Within walking distance to many restaurants and points of interest, and situated one mile from downtown Jacksonville, the community is highly attractive to millennials and residents looking for a walkable lifestyle. In fact, Vista Brooklyn's zip code houses one of the fastest-growing millennial populations in the United States, according to Yardi Matrix." Whitson Huffman, chief strategy and investment officer. Since its founding in 2012, Capital Square has acquired 145 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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MARKET OUTLOOK

Savills and SRS Real Estate Partners Form Strategic Alliance

SRS Real Estate Partners | November 30, 2021

Savills today announced that it formed a strategic alliance with SRS Real Estate Partners (SRS), supplementing its existing North American retail capabilities and enhancing its ability to provide seamless, high-caliber advisory services to retail occupiers, investors and owners worldwide. "The United States is one of the biggest retail markets globally with estimated retail sales expected to total nearly $4.5 trillion in 2021, making the US a key target for expanding international brands, We already have one of the strongest retail teams in Canada. Aligning with SRS, a widely respected and accomplished national retail advisory firm, deepens our capacity for solving clients' real estate challenges and cultivating a formidable global retail presence in the US also." - Mitchell E. Rudin, Savills North America chairman and CEO With more than 300 professionals across 27 offices, SRS is the largest real estate firm in North America dedicated solely to servicing retail clients. In the last 12 months, SRS has represented over 1,100 clients and completed more than $4.5 billion in transactions while currently representing more than 1,700 property listings. The firm's US client experience includes representing 83 of the top 100 restaurant chains, 74 of the top 100 retailers, and 49 of the top 100 retail owners. "We are excited to strengthen our alliance with Savills – a globally-respected real estate advisor, This alliance is the latest example of SRS evolving to meet growing client needs. For our clients whose needs extend beyond retail and outside of the US, this is big news. We've taken meaningful steps to ensure consistent delivery of service across both firms so that you have a strategic partner you can trust for all of your real estate needs." - Chris Maguire, CEO and chairman of the board for SRS. Globally, Savills has positioned itself as a leader in the retail sector. In the last 12 months alone, the Savills Prime Global Retail Team have been involved in some of the most high-profile flagship retail transactions internationally, including 711 Fifth Avenue New York, 777 Saint Catherine in Montreal, the renowned Topshop building on Oxford Street in London and 270 Orchard Road in Singapore. On the occupier side, the team is working with some of the most interesting and evolving brands in the retail sector, including the likes of Restoration Hardware, Ralph Lauren, JD Sports and Polestar. About Savills Inc. Savills helps organizations find the right solutions that ensure employee success. Sharply skilled and fiercely dedicated, the firm's integrated teams of consultants and brokers are experts in better real estate. With services in tenant representation, workforce and incentives strategy, workplace strategy and occupant experience, project management, and capital markets, Savills has elevated the potential of workplaces around the corner, and around the world, for 160 years and counting. About SRS SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 25 offices worldwide, SRS' strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry's most influential and respected leaders. Our success is measured in the achievement of our clients' objectives, satisfaction and trust.

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REAL ESTATE TECHNOLOGY

Peerage Realty Partners Acquires a Substantial Partnership Interest in Cascade Sotheby's International Realty of Oregon

Peerage Realty Partners | December 07, 2021

Peerage Realty Partners Inc. ("Peerage Realty") announces a substantial partnership interest in Cascade Sotheby´s International Realty ("Cascade"), a leading premium real estate brokerage in the Portland, Bend, Southern Oregon, Coastal Regions of Oregon, and Southwest Washington markets. The firm specializes in the representation of significant properties that highlight sophisticated urban markets as well as the spectacular natural beauty of the Pacific Northwest region. Under the leadership of CEO Deb Tebbs and the senior management team, since 2006 Cascade Sotheby's International Realty has continually set company sales records. The firm's 2021sales volume with exceed US$3 billion (C$ 3.8 billion), achieving a 30 percent increase over 2020. The partnership with Cascade Sotheby's International Realty is a key milestone for Peerage Realty, serving as a cornerstone for its North American expansion strategy in targeted real estate markets that have exciting growth opportunities. It also reinforces existing relationships between Peerage Realty and the iconic Sotheby's International Realty brand, reflecting the intent to forge more such partnerships in the future. "With Cascade Sotheby's International Realty, we are adding another superb Sotheby's International Realty firm to the Peerage Realty family of companies,"."Deb Tebbs is an exceptional, entreprenurial leader who has built a talented management team that shares a long-term commitment to be the best in their business. The ability to partner with those who share our values and our singular focus on providing clients with a luxury experience, is a true privilege." -Gavin Swartzman, CEO of Peerage Realty "Each and every day we focus on supporting our agents, and it's our sharing and give-back culture that is the heart and soul of this company,". "As our agents know, my objective has been to build a strong and sustainable model that incorporates the most up-to-date technology, broker support, and generates future opportunities. I believe this unique partnership with Peerage Realty will benefit our agents the most. Now more than ever, we will empower our agents to deliver exceptional real estate services from which our clients will benefit." -Deb Tebbs Presently, Peerage Realty is in partnership with Sotheby's International Realty Canada ("SIRC"), Canada's largest luxury real estate brokerage with 30 offices and 690 agents in Ontario, Quebec, British Columbia and Alberta; Briggs Freeman Sotheby's International with six offices and 381 agents in North Texas, including Dallas and Fort Worth; Four Seasons Sotheby's International Realty with 23 offices and 320 agents in Vermont, New Hampshire and New York; and Jameson Sotheby's International Realty ("Jameson"), a dominant player in the luxury residential and commercial real estate markets with six offices and 460 agents in the Greater Chicago Area. ABOUT CASCADE SOTHEBY'S INTERNATIONAL REALTY With 400 brokers and 17 offices serving Oregon and Southwest Washington, Cascade Sotheby's International was ranked the third fastest-growing company in Portland in 2020. It has a 20 per cent share of the key Bend, Oregon market, twice as much as its nearest competitor. In 2021, posting a 30 percent increase over the previous year, Cascade Sotheby's International Realty is projected to generate over US$3 billion (C$3.8 billion) in sales volume. ABOUT PEERAGE REALTY PARTNERS Peerage Realty Partners is a leading residential real estate services firm, serving luxury markets across North America. Peerage Realty brokerage partners include leading Sotheby's International Realty franchisees, and renowned independent firms in both re-sale residential real estate brokerage, and new construction marketing. Peerage Realty core service activities include real estate financing, transaction services, asset management, and home improvement for purpose-built rental properties. Peerage Realty has the unique benefit of being a privately-owned enterprise that is positioned to commit to long-term partnerships and investments. Peerage Realty is projected to sell over US$30 billion (C$38 billion) in 2021 through its partner firms. It has over 4,000 best-in-class sales representatives and employees with 211 offices in Canada and the United States. To support growth and expansion among partners, Peerage Realty consistently provides strategic input, capital, technology, operational expertise, marketing, communications, and value-added products and services that differentiate and strengthen its partner firms in competitive markets. Its goal is to expand the suite of services that its partner firms can offer to enhance the client experience through all phases of a real estate transaction and beyond.

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