REAL ESTATE TECHNOLOGY
EY | July 21, 2022
The EY organization today announces an alliance with Planon, a market leading smart sustainable building management solution provider, and EY Advisory Netherlands LLP (EY Netherlands), to help businesses optimize their real estate and workplace strategies in achieving growth, long-term value and sustainability. The alliance has been activated in the Netherlands and the US with additional global expansion planned over time.
As corporate offices play an enormous role in reaching a net-zero future, real estate managers are under increasing pressure to be transparent about the energy and sustainability performance of their building portfolios and to identify areas for improvement. The EY-Planon Alliance brings clients options for a seamless experience to fulfil their real estate and digital workplace needs with a focus on innovative technology and efficacy in implementation.
This alliance supports client efforts to navigate the increasingly complex digital workplace, smart building and workplace experience arena with actionable and meaningful insights from the EY organization, combined with Planon's integrated workplace management solution (IWMS) and internet of things (IoT) platform. As leaders in the real estate consulting and technology marketplace, EY teams bring deep knowledge of real estate, workplace and facilities, and extensive experience in lease accounting and software implementation across a global footprint.
Through the alliance offerings, clients will also be supported to meet compliance with lease accounting standards and create greater efficiency in portfolio management and process quality, which measurably helps reduce costs and contributes to the organization's overall performance.
Bernd Kramer, EY Global Planon Alliance Leader, says:
"The EY-Planon Alliance brings together the digital tools, systems and implementation experience of EY teams and Planon to support organizations seeking a comprehensive solution depot to reshape their real estate and facilities digitally. The alliance helps reduce the complexity arising from independent siloed systems through unified integrated platforms, helping organizations make better decisions, and act quickly and sustainably to develop a future-ready workplace."
"Planon is thrilled to collaborate with the EY organization to leverage their experience in real estate and business consulting, their in-depth knowledge of the IWMS landscape and their thought leadership to help our clients achieve a healthy, efficient and sustainable workplace. As global leaders in our respective fields, the EY organization and Planon make a powerful team that will continue to help drive adoption of leading technologies for real estate and facility management, and add value for clients."
Pierre Guelen, Founder and CEO of Planon
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Planon is the leading global provider of Smart Sustainable Building Management software that connects buildings, people and processes. By eliminating data silos and aligning solutions into one shared information platform, Planon provides all building stakeholders with actionable and meaningful insights. Independent market research and consulting firms have consistently rated Planon as a global leader in the market. Planon has implemented its comprehensive solutions for more than 2,500 clients, supported by offices and partners around the world.
REAL ESTATE INVESTMENT
ACRE | June 29, 2022
ACRE, a global real estate private equity firm, announced it has finalized a $43.5 million bridge loan with Peak Capital Partners (“Peak Capital”), to support the luxury multifamily apartment community ‘Connect at First Creek’ in Denver, Colorado.
Issued through ACRE’s latest debt fund “ACRE Credit I”, the loan will support Peak Capital’s purchase of the 150-unit community. Executed in May, the 3-year agreement includes options for two single-year extensions.
Brian Caudel and Jack Tidrick at KeyBank Real Estate Capital served as brokers for the deal.
Denver has continued to add huge numbers of both jobs and residents over recent years, making it one of the country’s fastest-growing metro areas and creating a critical need for high-quality rental housing. Connect at First Creek has already enjoyed impressive success in helping to satisfy that robust demand, and we’re proud to play a role in supporting Peak Capital’s purchase of this first-class property.”
Daniel Jacobs, Managing Partner at ACRE
The agreement for Connect at First Creek was one of four loans, totaling approximately $169 million, issued via ‘ACRE Credit I’ in May alone. Other loans finalized during the month were issued in support of multifamily developments in Nashville, Tennessee; Fort Worth, Texas; and Fredericksburg, Virginia.
The loan also represents the third issued to Peak Capital since ACRE Credit 1’s launch in August 2020, following two transactions for properties in the Atlanta metropolitan area.
To date, the fund has raised $509 million of equity and has committed to provide more than $2 billion in whole loans across 52 transactions to support the acquisition, lease-up, redevelopment and recapitalization of multifamily assets in growing secondary markets across the U.S.
“Our lending platform has been able to provide financing for a fast-expanding list of apartment developments across a wide variety of markets, as we continue to form and solidify partnerships with industry leaders like Peak Capital Partners,” said Jacobs. “May marked yet another productive month for ‘ACRE Credit I’, and we look forward to continuing to support other companies and the country’s rental housing sector at-large, as it experiences nearly unprecedented growth.”
Located at 17900 East 56th Avenue, Connect at First Creek was built and delivered by Massimino Development. Since opening in 2020, the community has enjoyed significant lease-up success, as it is currently 96 percent leased.
The development’s 150 luxury units feature a wide range of amenities, with in-unit features and finishes including stainless steel kitchen appliances, quartz countertops, Bluetooth keyless deadbolt locks, wood-style flooring, washer/dryer, walk-in closets, and private balcony/patio space. Community amenities include a resort-style swimming pool, fitness center, clubhouse, open air dining spaces with stainless steel BBQ grills, game room with billiards, coworking and conference spaces, a half-acre dedicated park, and direct access to First Creek Trail.
Connect at First Creek is located just a short distance from Pena Boulevard, Interstate 70, Interstate 225 and the 61st & Pena Light Rail station, offering residents an easy trip to Downtown Denver, Denver International Airport, and Aurora. The property is also adjacent to Rocky Mountain Arsenal National Wildlife Refuge, a 15,988-acre wildlife sanctuary.
ACRE is a vertically integrated private equity firm specializing in commercial real estate through active investments in both direct equity and debt capital markets as well as special situation opportunities. ACRE manages a global portfolio in excess of $3.1 billion concentrated in U.S. multifamily with holdings in the United Kingdom and Southeast Asia through separate verticals. ACRE has offices in Atlanta, New York, and Singapore.
MARKET OUTLOOK,REAL ESTATE ADVICE
Ventas | July 19, 2022
Ventas, Inc. (NYSE: VTR) today announced that Fitch Ratings (“Fitch”) has revised its rating outlook for Ventas to Stable from Negative and affirmed Ventas’s issuer credit rating of ‘BBB+’. In revising Ventas’s outlook, Fitch highlights that operating performance in Ventas’s senior housing operating portfolio is expected to continue to gain momentum as evidenced by steady gains in rent growth and occupancy. Fitch believes that the senior housing portfolio is positioned for a strong recovery driven by attractive 80+ population growth leading to higher move-ins and a favorable supply backdrop.
Fitch notes the benefits of Ventas’s diversified portfolio, approximately 30% of which consists of high-quality, principally on-campus medical office buildings and life science properties anchored by over 17 top-tier, high credit research universities. Fitch also cites Ventas’s strong liquidity position with minimal debt maturing through 2023 and management’s commitment to a strong financial policy.
Ventas Inc., an S&P 500 company, operates at the intersection of two large and dynamic industries – healthcare and real estate. Fueled by powerful demographic demand from growth in the aging population, Ventas owns a diversified portfolio of over 1,200 properties in the United States, Canada, and the United Kingdom. Ventas uses the power of its capital to unlock the value of senior living communities; life science, research & innovation properties; medical office & outpatient facilities, hospitals and other healthcare real estate. A globally recognized real estate investment trust, Ventas follows a successful long-term strategy, proven over more than 20 years, built on diversification of property types, capital sources and industry leading partners, financial strength and flexibility, consistent and reliable growth and industry leading ESG achievements, managed by a collaborative and experienced team dedicated to its stakeholders.