REAL ESTATE INVESTMENT
NexPoint | May 20, 2022
NexPoint Advisors, L.P., a multibillion-dollar alternative investment platform, announced the formation of a new NexPoint advised real estate investment trust (REIT). NexPoint is partnering with HomeSource Operations, LLC to acquire, build, and operate single-family rental homes in the REIT. The new NexPoint advised REIT will target both existing SFR homes and new construction build-to-rent homes in high-growth markets.
In acquiring existing SFR homes, the new NexPoint advised REIT will focus on homes built no earlier than 2000. Through strategic developer and builder relationships, the REIT will also target new construction BTR homes. The REIT will focus primarily on high-growth secondary and tertiary markets throughout the Sunbelt and Southeastern portions of the United States.
For NexPoint, the parent of the adviser to one of the largest owners of SFR homes in the U.S., this new initiative will help NexPoint further expand its exposure to SFR. NexPoint expanded into the SFR market in 2018 and, through an affiliate, is the adviser of a REIT that now owns and operates more than 22,000 homes. This new initiative also presents NexPoint with unique opportunities to leverage its broad range of capital markets capabilities to help bring creative financing solutions to acquisitions of SFR and BTR homes.
Currently, the new REIT has an existing portfolio of more than 1,000 homes, which NexPoint expects to grow to several thousand homes by year end.
NexPoint views the SFR sector as a core part of our platform and we are pleased to announce a partnership with a quality operator like HomeSource that will allow us to broaden our exposure to this critical sector and expand our SFR platform into new segments."
Matthew McGraner, Chief Investment Officer for NexPoint
Randy Hagedorn, Chief Executive Officer of HomeSource said, "We are grateful to have a partner in NexPoint that understands the need to be entrepreneurial and flexible as we acquire SFR and BTR Homes in the REIT. We look forward to our partnership and using our collective experience and expertise to grow the REIT's portfolio."
NexPoint is a multibillion-dollar alternative investment platform comprised of a group of investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles. The firm provides differentiated access to real estate and other alternatives through public and private REITs, 1031 exchanges and other tax-advantaged real estate vehicles, closed-end funds, interval funds, and a business development company (BDC). Investment solutions draw on NexPoint's core capabilities in real estate, capital markets, and credit. Within real estate, NexPoint has expertise across multiple property types, including multifamily, single-family rental, self-storage, hospitality, industrial, office/retail, timber, and life sciences. NexPoint is based in Dallas, Texas and is part of an integrated network of investment management and financial services businesses.
REAL ESTATE INVESTMENT
Mission Rock Residential | May 06, 2022
Mission Rock Residential, LLC, a Denver-based multifamily property management company, is pleased to announce its newest management contract for The Tala at Washington Hill Apartments in Baltimore, Maryland. The apartments were formerly operated under the name of Jefferson Square at Washington Hill. Mission Rock was issued the management deal by Hamilton Zanze Real Estate Investments.
The Tala at Washington Hill is another wonderful fit for the Mission Rock portfolio. The community is in a vibrant neighborhood in downtown Baltimore, and we are excited to provide the current and future residents with our award-winning property management service."
Meredith Wright, CPM, CAPS, President of Mission Rock Residential
The community offers 304 apartment homes and is located in Downtown Baltimore, near Johns Hopkins Hospital. The Tala at Washington Hill includes studio, one and two -bedroom apartment homes, each with a luxury feel thanks to high ceilings and state-of-the-art appliances. Residents will enjoy being conveniently located in the heart of Downtown, an onsite dog park, a resort-style swimming pool, and two courtyards with grilling stations and water features.
The community is also home to retail shops, restaurants, and a bank, all located on the ground floor of the building.
The Tala at Washington Hill is situated in the highly desired Washington Hill neighborhood and is just minutes from the Fells Point, Canton, and Harbor East neighborhoods, all known for their trendy events and retail offerings. Highway 40, which runs east to west, and I-95 which runs north to south, are also close by for easy commuter travel around the metro area.
Baltimore is the largest city in Maryland with lots of cultural and historical attractions. It's best known for its historical sites, including the George Washington monument. The area has a strong economy made up of universities, healthcare facilities, retail companies, and government entities. Johns Hopkins University and Hospital, the Social Security Administration, and Centers for Medicaid and Medicare are just a few of the most notable employers in the area.
About Mission Rock Residential
Mission Rock Residential was established in 2012. The company now manages 167 multifamily properties and more than 31,000 residential units across the United States. With more than 700 full time team members, the company is headquartered in Denver, Colorado with regional offices in Phoenix and Atlanta. The company was also named one of the Best Places to Work by the National Apartment Association in 2021.
SkySlope | June 23, 2022
We're thrilled to announce an expansion of our partnership with SkySlope, an innovator in real estate transaction management. SkySlope serves over 450,000 real estate professionals and now offers Updater as part of their transaction management software to further enhance client relationships before, during, and after each real estate transaction.
New features will be released this month, including:
All SkySlope broker and agent customers will automatically receive access to the Updater Pro platform at no cost.
All homebuyers and sellers in the SkySlope system will receive unlimited access to Updater, helping them move into and manage their new homes.
Property information and specific transaction details will sync automatically between SkySlope and Updater, providing each buyer and seller with a personalized and tailored move plan.
Broker and agent branding will be featured within the Updater experience before, during, and after the transaction and across communication channels – in-app, web, and email.
With more real estate transactions completed in a digital environment, it's critical to remember that the transaction shouldn't end at the closing table – the move is often the most stressful part. We're thrilled to deepen our relationship with SkySlope and jointly deliver on the promise of a frictionless and modern moving experience for all homeowners."
David Greenberg, Founder and CEO of Updater
While homeowners enjoy a simplified and automated moving experience using Updater's industry-leading technology, SkySlope's customers will build lasting client relationships thanks to Updater's co-branding and configuration capabilities. Once branding and preferences are configured, brokerages and agents remain front and center in the Updater experience as their clients organize and complete moving tasks.
"We build solutions to empower REALTORS® and are invested in their ongoing success," said Buck Avey, VP of Product at SkySlope. "Our collaboration with Updater is just one of the many ways we place the agent at the center of providing best-in-class experiences for their clients."
SkySlope manages nearly 3M transactions each year. The homebuyers and sellers associated with Skyslope-managed transactions will receive integrated access to Updater's technology, helping them seamlessly organize and complete tasks including:
Set up internet and television services
Compare and book both full-service and on-demand moving services
Set up utility services, including electricity, gas, and water
Set up smart home technology
And much more
"Updater is integrated with our transaction management system (SkySlope), so that there's no work needed by our sales executives," said Brenda Tushaus, CEO at RE/MAX Results, ranked as the 15th largest brokerage firm in the US by closed transaction sides in 2021. "Other than getting set up and adding branding, it just runs automatically – that's a huge time saver."
Established in 2011, SkySlope is the customer experience platform managing real estate transactions from contract to close. Serving over 450,000 real estate professionals across the U.S. and Canada, SkySlope manages nearly 3 million transactions annually. SkySlope is on a mission to build solutions that reshape the real estate industry by creating the most powerful autonomous transaction platform.