REAL ESTATE TECHNOLOGY
Coldwell Banker Realty | June 13, 2022
The Jills Zeder Group, a powerhouse team of Coldwell Banker Global Luxury Ambassadors with Coldwell Banker Realty, have once again been ranked as the No. 1 large team in the entire United States, as announced in the 2022 RealTrends "The Thousand" list published in The Wall Street Journal. Per RealTrends, a large team ranges from 11 to 20 members.
RealTrends ranked The Jills Zeder Group No. 1 on the list, based on achieving $2,250,764,707 in closed sales volume in 2021 and 367.60 closed transaction sides in 2021. Affiliated with Coldwell Banker Realty's offices in Miami Beach and Coral Gables, Florida, the sales team, which specializes in luxury real estate, including luxury estates, condominiums, waterfront properties, and highly complex assemblages, achieved more sales volume than any other small, medium or large team from any brokerage or company nationwide.
Year over year, The Jills Zeder Group not only sets the bar for the industry standard of excellence, but they surpass their own benchmark. The team's ingenuity, dedication to client service, extreme market intelligence and fierce business acumen has resulted in another outstanding recognition this year. It is a true privilege to have the opportunity to serve this top-performing, legendary team as part of Coldwell Banker."
Ryan Gorman, CEO of Coldwell Banker
"I'm honored to once again congratulate The Jills Zeder Group for their distinguished achievement earning the No. 1 spot on the prestigious RealTrends list, solidifying them as the very best real estate team in the country," said Duff Rubin, president of Coldwell Banker Realty in Florida. "This well-earned recognition reconfirms what we already know about the team, that they offer their clients incomparable professionalism and real estate knowledge, as well as a superior understanding of the complex and evolving market of South Florida."
The RealTrends "The Thousand" ranking consists of all real estate agents and teams throughout the United States who took part in residential real estate transactions in 2021. The individual rankings are divided into two top 250 categories, based on closed transaction sides and closed sales volume. To qualify, an individual agent had to close at least 50 transaction sides or $20 million in sales volume in 2021. For real estate teams, the minimum was 75 transaction sides or $30 million in closed sales volume.
About The Jills Zeder Group
The Jills Zeder Group, affiliated with Coldwell Banker Realty, is comprised of three families, all of whom are major players in the luxury residential real estate business. These families include Jill Hertzberg, Jill Eber and Felise Eber; and Hertzberg's children Danny Hertzberg and Hillary Hertzberg; and Judy Zeder and her children, Nathan Zeder and Kara Zeder Rosen. Prior to The Jills Zeder Group's formation in 2019, the families closed a combined total of more than $8 billion in real estate sales, including collaborating on multiple luxury sales in the Coral Gables market. With offices in Miami Beach and Coral Gables, The Jills Zeder Group specializes in high-end, multimillion-dollar luxury properties in South Florida's most elite enclaves, representing celebrities, Fortune 500 executives, and a diverse international clientele. They offer incomparable knowledge and services to luxury real estate clients.
About Coldwell Banker Realty
Coldwell Banker Realty in Florida is a leading residential real estate brokerage company with approximately 73 offices and 8,106 affiliated sales associates. Coldwell Banker Realty is owned by a subsidiary of Anywhere Real Estate Inc. (NYSE:HOUS), the largest full-service residential real estate services company in the United States. Visit ColdwellBankerHomes.com. Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo are service marks owned by Coldwell Banker Real Estate LLC.
REAL ESTATE INVESTMENT
The Ascott Limited | July 05, 2022
CapitaLand Investment Limited's (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott) announced it is acquiring Oakwood Worldwide (Oakwood), a premier global serviced apartment provider, from Mapletree Investments Pte Ltd. The acquisition increases Ascott's global portfolio by 81 properties and about 15,000 units. Oakwood's approximately 8,500 operational units are expected to immediately contribute to Ascott's recurring fee income streams upon completion of the transaction slated in 3Q 2022.
Ascott's acquisition of Oakwood will leapfrog Ascott's global presence to more than 150,000 units in about 900 properties across over 200 cities in 39 countries. It will add new markets which include Cheongju in South Korea; Zhangjiakou and Qingdao in China; Dhaka in Bangladesh as well as Washington D.C. in the United States of America (USA). Recently named the 'Best Serviced Residence Brand' in DestinAsian Readers' Choice Awards 2022, Oakwood's award-winning portfolio includes flagship properties Oakwood Premier Tokyo and Oakwood Premier Coex Center Seoul which were ranked top 10 properties in their respective countries in the DestinAsian awards. New properties such as Oakwood Premier Melbourne and Oakwood Hotel Oike Kyoto, will also add to the group's destination highlights.
"This acquisition of Oakwood is part of Ascott's roadmap to playing a bigger role in the lodging market. There are significant synergies between Ascott and Oakwood, given our complementary footprint and product offerings. We intend to build on the strong reputation and heritage of the Oakwood brand, especially in markets across Southeast Asia, North Asia and North America. Oakwood will continue to grow alongside Ascott's current portfolio of global brands as we continue to build growth momentum for our lodging business. We will be able to leverage Ascott's extensive expertise as a global lodging player to deliver greater value to our expanded network of loyal customers and property owners. Besides strategic alignment, this acquisition is also notable to Ascott commercially. Ascott's acquisition of Oakwood brings about an immediate boost to our units under management and franchise contracts. The Oakwood portfolio will accelerate the growth of our asset-light business, with added recurring fee income streams, expanded lodging offerings and increased customer base. The strategic moves we have made in the last few years, such as our investments in Quest, Synergy and TAUZIA have charted an unprecedented growth path for Ascott."
-Mr Kevin Goh, CLI's Chief Executive Officer for Lodging.
Ascott's strategic investments in the past years include its acquisition of Quest Apartment Hotels (Quest), one of the largest serviced apartment operators in Australasia, in 2017 to grow its business franchise arm. In the same year, Ascott invested in Synergy Global Housing (Synergy), a leading corporate housing provider in the USA. In 2018, Ascott acquired TAUZIA Hotel Management (TAUZIA), one of the top hotel operators in Indonesia, to enter the fast-growing mid-scale business hotel segment. With Oakwood coming onboard, Ascott is confident of achieving its target of 160,000 units globally well ahead of 2023.
About The Ascott Limited-
The Ascott Limited (Ascott) is a Singapore company that has grown to be one of the leading international lodging owner-operators. Ascott's portfolio spans over 200 cities across over 30 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA. Ascott has more than 81,000 operating units and over 54,000 units under development, making a total of more than 135,000 units in over 800 properties. The company's serviced apartment, coliving and hotel brands include Ascott The Residence, The Crest Collection, Somerset, Quest, Citadines, lyf, Préférence, Vertu, Harris, Citadines Connect, Fox, Yello, Fox Lite and POP!. Ascott's loyalty programme, Ascott Star Rewards, offers exclusive benefits to its members when they book directly with Ascott for their stays at its participating properties. Ascott, a wholly owned subsidiary of CapitaLand Investment Limited, pioneered Asia Pacific's first international-class serviced apartment with the opening of The Ascott Singapore in 1984. Today, the company boasts over 30 years of industry track record and award-winning brands that enjoy recognition worldwide.
About CapitaLand Investment Limited-
Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia foothold. As at 31 March 2022, CLI had about S$124 billion of real estate assets under management, and about S$86 billion of real estate funds under management (FUM) held via six listed real estate investment trusts and business trusts, and 29 private funds across the Asia-Pacific, Europe and USA. Its diversified real estate asset classes cover integrated developments, retail, office, lodging, business parks, industrial, logistics and data centres. CLI aims to scale its FUM and fee-related earnings through its full stack of investment management and operating capabilities. As the listed investment management business arm of the CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand's development arm. Being a part of the well-established CapitaLand ecosystem differentiates CLI from other REIMs. As part of the CapitaLand Group, CLI places sustainability at the core of what it does. As a responsible real estate company, CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.
REAL ESTATE INVESTMENT
Blackstone Real Estate Income Trust | June 24, 2022
Blackstone and Preferred Apartments Communities, Inc. announced that Blackstone Real Estate Income Trust, Inc. has completed its previously announced acquisition of PAC for $25.00 per share of common stock, without interest, in an all-cash transaction valued at approximately $5.8 billion. The holders of each series of PAC’s preferred stock will receive the $1,000 per share liquidation preference for each share of preferred stock plus accrued but unpaid dividends thereon, without interest. As a result of the transaction, PAC’s common stock will no longer be listed on any public market.
Joel T. Murphy, PAC’s Chairman and Chief Executive Officer, said, “Today’s closing of BREIT’s acquisition of PAC marks the beginning of an exciting new chapter for PAC. This outcome, with over 99% of voting stockholders supporting the acquisition, reinforces the merits of this transaction and the value of the hard work our team has done leading up to and throughout this process. I would like to thank the Blackstone team for being so collaborative as we worked together to achieve this result. We look forward to the next phase for PAC.”
We are pleased to complete this acquisition on behalf of our BREIT investors and welcome the talented PAC team to Blackstone. Inclusive of this transaction, approximately half of BREIT’s portfolio comprises residential properties largely located in the West and South regions of the U.S., which are seeing robust demand and stable occupancy. PAC’s portfolio of high-quality multifamily in key SunBelt markets and grocery anchored retail centers is a complementary addition to BREIT’s portfolio of stabilized, income-generating assets, and we look forward to being long-term owners of these properties.”
Jacob Werner, Co-Head of Americas Acquisitions for Blackstone Real Estate
Jones Lang LaSalle Limited, BofA Securities, Lazard Frères & Co. LLC and Wells Fargo Securities LLC served as BREIT’s financial advisors, and Simpson Thacher & Bartlett LLP acted as BREIT’s legal counsel.
Goldman Sachs & Co. LLC served as PAC’s lead financial advisor. KeyBanc Capital Markets, Inc. and JonesTrading Institutional Services, LLC. also served as financial advisors to PAC. King & Spalding LLP and Vinson & Elkins LLP served as the Company’s legal counsel.
The transaction was announced on February 16, 2022.
About Preferred Apartment Communities, Inc.
Preferred Apartment Communities, Inc. is a real estate investment trust engaged primarily in the ownership and operation of Class A multifamily properties, with select investments in grocery-anchored shopping centers. Preferred Apartment Communities’ investment objective is to generate attractive, stable returns for stockholders by investing in income-producing properties and acquiring or originating real estate loans. As of March 31, 2022, the Company owned or was invested in 113 properties in 13 states, predominantly in the Southeast region of the United States.
About Blackstone Real Estate Income Trust, Inc.
Blackstone Real Estate Income Trust, Inc. is a perpetual-life, institutional quality real estate investment platform that brings private real estate to income focused investors. BREIT invests primarily in stabilized, income-generating U.S. commercial real estate across key property types and to a lesser extent in real estate debt investments. BREIT is externally managed by a subsidiary of Blackstone, a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has approximately $298 billion in investor capital under management.