REAL ESTATE INVESTMENT
Cadre | October 14, 2022
Cadre, the leading technology-driven real estate investment platform, has launched its latest investment offering, the Cadre Horizon Fund. The Cadre Horizon Fund builds on Cadre’s exceptional track record (~28% realized net IRR) and will enable an even wider base of investors to access a diversified portfolio of premier real estate across the country. The Horizon Fund also offers investors the opportunity to invest in an asset class that serves as a hedge against inflation while providing stable yield and income at a time of significant broader macro volatility.
Powered by Cadre’s high-tech/high-touch approach, the Cadre Horizon Fund features a high quality portfolio of income-oriented real estate investments in the country’s strongest markets. The investment solution is oriented towards individuals looking to invest alongside an experienced manager and diversify outside of stocks and bonds through defensive, recession-resilient sectors such as multifamily, light warehouse, and leisure hotels. The Horizon Fund will ultimately be an SEC-registered REIT in order to provide investors with unique tax benefits that real estate investing offers, including tax-advantaged distributions.
According to a recent survey by Cadre and Underground Research, 73% of mass affluent investors are interested in commercial real estate and 68% want to diversify their portfolios. As more individuals grapple with extraordinarily high inflation and global instability, the Cadre Horizon Fund aims to help investors hedge public headwinds in private real estate markets. Over the last 20 years, private real estate has delivered returns comparable to equities with ~66% less volatility. Meanwhile private real estate has delivered average returns ~6.6% higher than the U.S. Consumer Price Index, a central indicator of rising inflation.
“We have long intended to release an income-oriented product and are proud to open the Horizon Fund at an important time when more investors need the option to invest in products that provide yield, appreciation, and downside protection private real estate offers, Our individual deal investments and the Cadre Direct Access Fund continue to demonstrate the wealth-building power of commercial real estate through compelling returns. The Horizon Fund represents our conviction in CRE’s ability to generate income – a feature we are excited to share with our investors.”
- Dan Rosenbloom, Cadre’s Head of Investments
The Horizon Fund is another step in Cadre’s rapid evolution and growth. The firm has methodically scaled and delivered exceptional results since its founding. Cadre has invested in assets eclipsing $5 billion in value across 25 markets in the U.S., while generating an average ~28% realized net IRR and 1.8x realized net equity multiple to hundreds of clients around the world. Cadre’s experienced investments team brings rigorous, institutional diligence, and proactive asset management – paired with advanced proprietary technology and data analytics – leading to more than $460mm in distributions to investors. Following the close of The Cadre Direct Access Fund earlier this year, the fund generated impressive realized returns to investors with the first two property sales in the fund achieving 40.2% and 67.3% realized net IRRs and doubling investors money in less than two years.
I founded Cadre to expand access to premier real estate investments. With a tax-advantaged structure, lower investment minimums, and a strategy focused on delivering yield with lower volatility, our Fund is positioned to support more investors achieve better financial futures than ever before, Through the Horizon Fund, we are bringing access to a diversified portfolio of assets in carefully selected sectors such as multifamily and industrial and high-growth geographies. The launch of the fund should prove critical to improving investors' financial futures, while empowering more individuals than ever before to access and learn more about this important sector that can unlock multi-generational wealth, said Ryan Williams, Cadre’s Founder and Executive Chairman.
Accredited investors can begin investing in the Horizon Fund and other opportunities today. Broader access to the Horizon Fund is expected to be made available in 2023.
Cadre is a groundbreaking technology-driven commercial real estate investment platform that offers both institutional and individual investors the opportunity to invest in expertly diligenced real estate assets with lower minimums, low fees, and unprecedented potential for liquidity. Via its data-driven and transparent approach, Cadre opens participation in a historically opaque and illiquid asset class.
Along with its traditional investment offerings, Cadre also provides investors with the ability to seek liquidity through its proprietary secondary market, a unique offering within the industry.
Since Cadre’s founding, Cadre has closed more than $5 billion in real estate transactions across 25 U.S. markets. Cadre has exited thirteen investments with a ~28% realized net IRR and in total has returned approximately $462 million of capital to Cadre investors to date.
REAL ESTATE TECHNOLOGY
Redfin | October 10, 2022
Redfin, the technology-powered real estate brokerage, today added down payment assistance information to home listings on its website. Potential homebuyers can now use Redfin to discover down payment assistance programs they may qualify for in order to help make homeownership more affordable. The feature is powered by a partnership with Down Payment Resource, a company helping the housing industry connect homebuyers with more than 2,200 homebuyer assistance programs nationwide.
Each eligible for-sale listing page on Redfin in the U.S. now displays the number of down payment assistance programs available in that area. Interested homebuyers can input basic information and immediately receive a tailored list of programs they may qualify for, the amount of assistance potentially available to them, and links to the program pages for more information.
“Nearly half of Americans who have never owned a home say that saving money for a down payment is a barrier to homeownership, and many young people in particular feel like they’ll never be able to own a home, Down payment assistance programs can make homeownership more attainable, but information about them is often fragmented and hard to understand. We saw a big opportunity in partnering with Down Payment Resource to raise awareness about these programs to help more people become homeowners.”
-Christian Taubman, Redfin’s chief growth officer
This information is especially valuable as the national median home price has soared roughly 40% since the pandemic, making saving for a down payment more challenging. Recent Redfin research found that the typical U.S. homebuyer who took out a mortgage in July made a $62,500 down payment, nearly double the median down payment in July 2019, before the pandemic started.
Our research shows that one in three declined mortgage applications are denied for reasons that could be addressed with homebuyer assistance, which underscores the critical need to increase awareness about these life-changing programs, Partnering with Redfin is a great way to get information about financial support into more consumers’ hands. With thousands of assistance programs available across the country, many Americans may be able to afford homeownership sooner than they realized,said Rob Chrane, CEO and founder of Down Payment Resource.
This launch is part of Redfin’s broader mission to remove barriers to homeownership and make finding a home clear and achievable. Other efforts include:
Ongoing donations to nonprofit community partners through Redfin Rise, the company’s philanthropic initiative. This year, Redfin Rise donations have provided housing counseling sessions for 660 families through Clarifi, supported the development of 12 permanently affordable homes through Homestead Community Land Trust, provided $135,000 in closing grants to 45 homebuyers through NHS Chicago, and helped build 226 homes in El Salvador and Mexico with New Story.
Maintaining free homebuyer resources, including first-time homebuyer guides in both English and Spanish and homebuying classes taught by expert Redfin agents.
Publishing extensive housing market research about affordability and equality issues.
Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.
About Down Payment Resource
Down Payment Resource (DPR) helps its business partners connect homebuyers to the down payment help they need through its award-winning technology. The company tracks funding status, eligibility rules, benefits, and more for over 2,000 down payment assistance and affordable lending programs. DPR was recognized by Inman News as "Most Innovative New Technology" and the HousingWire Tech100™. DPR licenses its products to Multiple Listing Services, REALTOR® Associations, real estate search sites, lenders, and housing counselors across the country. DPR's subscription based service, Down Payment Connect, helps agents and loan officers match buyers to available programs.
REAL ESTATE INVESTMENT
Juniper Square and G2 | October 19, 2022
Juniper Square, the leading provider of partnership enablement for the private funds industry, has been named an industry leader by G2, Inc. in its Fall 2022 Grid® Report for Real Estate Investment Management. The report reviews software that real estate investors and investment firms use to maintain compliance with real estate investment regulations, manage the investor relationship, and maximize property value and investment returns. Among the companies included in the ranking, Juniper Square has the highest score of 4.9 out of 5 user satisfaction rating.
“In just six years since launching Juniper Square, we’re extremely proud to rank No. 1 in user satisfaction and be named a leader in the G2 Fall 2022 Grid Report, validating our unique approach to partnership enablement across tens of thousands of private partnerships, Our industry-leading client satisfaction is reflective of the fact that we deliver expert guidance and best practices which are unique to the needs of investment managers at every stage of their partnerships.”
-Alex Robinson, CEO and co-founder of Juniper Square
According to G2, the largest and most trusted software marketplace, real estate investment management software, also known as real estate asset management software or real estate portfolio management software, aims to maximize the market value and return on investment of real estate properties, and enables strategizing for portfolio growth and development. Real estate investment management software arms asset managers, real estate investors, and stakeholders with financial and operational insights that reduce errors and mitigate potential risk, streamline asset analysis, maintain compliance with guidelines and regulations, and facilitate transparency and visibility throughout the portfolio lifecycle.
When we started looking for a new investment management and contact management platform, we considered five alternatives and Juniper Square was selected as it aligned with our core values and was client-centered, In addition to being the only solution that offered all of the very important functional aspects we were looking for, they checked off all the softer aspects, too. Plus, Juniper Square far exceeded our expectations on timely and comprehensive communication,said Tyson Hammer Strandberg, director of client relations for Bell Partners.
About Juniper Square
Juniper Square is the leader in partnership enablement for the private funds industry, offering a universal system for GPs and their LPs to seamlessly connect and communicate across every stage of their partnerships. Juniper Square empowers investment managers to accelerate fundraising, scale operations efficiently, and improve investor satisfaction. More than 1,700 GPs rely on Juniper Square to manage more than 300,000 LPs in more than 24,000 private funds.
G2 is the world's largest and most trusted software marketplace. More than 60 million people annually - including employees at all of the FORTUNE 500 - use G2 to make smarter software decisions based on authentic peer reviews. Thousands of software and services companies of all sizes partner with G2 to build their reputation, manage their software spend, and grow their business - including Salesforce, HubSpot, Zoom, and Adobe.