7.3 Million U.S. Homes at Risk of Storm Surge Damage in 2019 Hurricane Season

WORLD PROPERTY JOURNAL | May 31, 2019

According to CoreLogic's 2019 CoreLogic Storm Surge Report, more than 7.3 million single- and multi-family homes in the U.S. along the Gulf and Atlantic Coasts have the potential for storm surge damage, with a total estimated reconstruction cost value (RCV) of nearly $1.8 trillion. Early predictions from the National Oceanic and Atmospheric Administration (NOAA) indicate a near-normal year for the 2019 Atlantic hurricane season. The CoreLogic Storm Surge report provides an annual evaluation of the number of homes in the United States that are vulnerable to storm surge in the Gulf of Mexico and Atlantic Basin, which includes every state from Texas to Maine, approximately 3,700 miles. "It is essential to understand and evaluate the total hazard exposure of properties at risk of storm surge prior to a hurricane event, so insurers can better protect and restore property owners from financial catastrophe," said Dr. Tom Jeffery, senior hazard scientist at CoreLogic. "Damage from storm surge and inland flooding has proven to be far more destructive than wind in recent years, so we cannot rely on the hurricane category alone to give us a sense of the potential loss. A Category 5 hurricane in an area with few structures may be far less devastating than a Category 1 hurricane in a densely populated area."

Spotlight

DLF Gardencity a newly launched Residential Apartment Project by DLF Limited at Chennai. DLF has over 68 years of track record of sustained growth, customer satisfaction, and innovation. The company has 294 msf of planned projects with 47 msf of projects under construction.

DLF's primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals. Its exposure across businesses, segments and geographies, mitigates any down-cycles in the market. From developing 22 major colonies in Delhi, DLF is now present across 15 states-24 cities in India.


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REAL ESTATE TECHNOLOGY

Three Sklar Kirsh Partners Named "Real Estate Visionaries" by LA Times

Sklar Kirsh LLP | May 20, 2022

Hot off a landmark dealmaking year for the real estate team at Sklar Kirsh LLP, the Los Angeles Times has recognized three of its attorneys as "Real Estate Visionaries." The firm announced today that Founding Partner Andrew Kirsh and Partners Serineh Baghdasarian and Peter Fischer were honored "for their contributions and leadership within their organizations, the legal field, and the community at large" by the publication's commercial real estate magazine. In 2021 alone, the firm's real estate team closed on approximately 200 transactions in over 25 states with a total asset value of approximately $7 billion across all asset classes including multi-family, office, retail, hotel, industrial, student-housing and self-storage. Jeffrey Sklar, co-managing partner and co-founder of the firm, said the team's worked hard to keep that strong momentum going in 2022. It's an honor for the firm's practice to be represented on the list, and given the incredible work they've done, I can't think of anyone more deserving of the title of 'real estate visionary' than Andrew, Peter, and Serineh. This recognition speaks to our group's commitment to clients and to the profession as a whole." effrey Sklar, co-managing partner and co-founder ofSklar Kirsh LLP The publication notes that Kirsh, who leads the real estate team, represents a broad spectrum of matters across the real estate industry, "including acquisitions, dispositions, equity investments, syndications, fund formation, development, leasing, financing, note purchases and foreclosures." Baghdasarian's practice includes extensive representation of real estate equity funds, developers, and investors in all areas of transactional real estate and real estate financing," adds the feature. She has helped various private equity firms grow their investment platform through her practical and hands-on legal approach and is considered an integral part of her clients' team. Fischer is recognized as an experienced commercial real estate transactional attorney who "routinely works on complex joint venture, fund formation, syndication and other transactions involving multi-family, industrial, assisted living, restaurants, hotels and hospitality, construction and office, as well as mobile homes and self-storage facilities" on behalf of a wide variety of clients. AboutSklar Kirsh LLP Sklar Kirsh LLP is a boutique law firm that provides sophisticated and expert advice in the areas of corporate, real estate, bankruptcy, and entertainment law as well as commercial, real estate and entertainment litigation.

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REAL ESTATE INVESTMENT

Atlas Cottage Homes Announces an Alternative Solution to Florida's Affordable Housing Crisis

Atlas Group LTD | June 17, 2022

Atlas Cottage Homes, a division of Atlas Group LTD, announced its plans to provide alternative affordable housing. Built to Florida code for single family homes in its manufacturing plants in Orlando, Atlas Cottages Homes range from 588 SF to 1074 sq. ft. and qualify for a 30-year mortgage. The need for affordable family housing for Florida's workforce is critical. We are equipped to create 5000 homes in the next five years in our existing facilities, and are excited to partner with local municipalities, businesses, and investors to help make homeownership more attainable and preserve paradise in the Sunshine State." Lincoln Hine, Founder of Atlas Group LTD and CEO of Atlas Cottage Homes "We are meeting with key officials across the state and are grateful for the Florida House Bill 1339 which allows municipal governments to approve affordable developments like Atlas Cottage Homes on any parcel zoned for residential, commercial or industrial use," said Hine. Atlas Cottage Homes floor plans include a one bedroom/one bathroom and two to three bedrooms/two bathrooms. The homes feature insulated walls (R-14) ceiling (R-20) and flooring (R-13); sculpted shingles or metal roof and fiber cement siding. A traditional 30-year mortgage for these affordable homes would be $700-$1600 a month, based on 20 percent down payment and current interest rates. Home buyers will pay less should they qualify for other mortgage loans (i.e., FHA, VA, Good Neighbor Next Door Loans, Florida's Hometown Heroes program). And unlike other small home concepts, Atlas Cottage Homes are foundation-based and as such, are an appreciating asset. The Value Collection features one- and two-bedroom designs with full kitchen cabinetry, bathroom with stand up shower, toilet and sink, and built-in cabinets and storage. Other amenities include ductless air conditioning, tankless water heater, garbage disposal and vinyl flooring. The Premier Collection features two single and one two-story home designs. These homes include one to three bedrooms, with open living spaces, smart technology, and marble kitchen countertops. Options include solar power, decks and patios, carports and garages. Atlas Cottage Homes is in development of three planned communities with more than 400 homes sites in Florida. The developments will be placed on either deeded lots or on land lease lots. These communities may include shared amenities such as a swimming pool, a playground, and a community center. About Atlas Community Homes Atlas Community Homes are affordable foundation-based single-family homes that qualify for a 30-year mortgage. These homes, ranging from 588 to 1074 sq. ft., are built to Florida code standards in its facilities in Orlando, FL. The Value Collection is one- and two-bedroom designs and the Premier Collection is one to three bedrooms designs, including a two-story home. About Atlas Group Founded by Lincoln Hine, Atlas Group LTD is an investment-focused and impact-driven company based in Palm Beach, FL. The company's holdings include real estate, finance, construction, manufacturing, hospitality and recruiting.

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REAL ESTATE INVESTMENT

City Office REIT Announces Raleigh Acquisition

City Office REIT | January 03, 2022

City Office REIT, Inc. (NYSE: CIO) ("City Office" or the "Company") announced today that it has closed the acquisition of Bloc 83, a premier two-building office complex located in Raleigh, North Carolina, for a gross purchase price of $330.0 million exclusive of closing costs. The 494,000 square foot, newly built Class A complex possesses a prime location, market-leading features and strong tenancy. Bloc 83 is situated in the Glenwood South submarket, a preeminent live-work-play district of downtown Raleigh. Glenwood South has attracted a population of young professionals relocating from larger metro areas and is the epicenter of Raleigh's dining, shopping and entertainment district. Bloc 83 features best-in-class, modern tenant buildouts, common areas and amenities. Highlights of the property include state-of-the-art fitness centers, a rooftop sky lounge, a yoga studio, various retail amenities and expansive lounges. The first building was delivered in 2019 and is currently 93% leased with a weighted average lease term remaining of approximately 10.3 years. The second building was delivered in 2021 and is in its initial lease-up phase at approximately 67% leased as of closing. Adding Raleigh to our footprint of high growth markets in the south and west strategically enhances our portfolio, Raleigh's highly educated workforce has been a driver for growth in the STEM and life science industries. The region's tier one research universities, high quality of life and diverse economy positions it favorably over the long term." James Farrar, the Company's Chief Executive Officer. About City Office REIT, Inc. City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located in leading 18-hour cities in the Southern and Western United States. City Office currently owns or has a controlling interest in 6.2 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.

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REAL ESTATE INVESTMENT

MG Properties Acquires 215-Unit Community in Orange County's Placentia

MG Properties | April 23, 2022

MG Properties, a private San Diego-based real estate investor, owner, and operator is further expanding their presence in the Orange County, CA with the acquisition of The Herald Apartments. Built in 2021, this 215-unit community is a rare opportunity to acquire a "class A" asset in Placentia. The strong demographics of the surrounding area make The Herald's exceptional amenity package and high-quality finishes well suited to the market. The Herald is ideal addition to our Southern California portfolio. We believe Orange County has strong fundamentals and is positioned well for growth in the near term." Jeff Gleiberman, MG Properties' Managing Director The seller, Lyon Living, was represented by Mark Peterson, Joseph Smolen, Geoff Boler and Jonathan Merhut of Eastdil Secured. The property was financed by Affiliates of Apollo Global Real Estate Management L.P., originated by Lee Redmond and Greg Stampley also of Eastdil Secured. About MG Properties MG Properties is a privately owned, fully integrated real estate company specializing in the investment, redevelopment, and management of multi-family assets. Headquartered in San Diego, California, MG was founded in 1992 by Mark Gleiberman with the mission to enrich communities. MG's current portfolio is comprised of over 28,000 rental homes in California, Washington, Arizona, Nevada, Colorado, and Oregon, including 95 communities.

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Spotlight

DLF Gardencity a newly launched Residential Apartment Project by DLF Limited at Chennai. DLF has over 68 years of track record of sustained growth, customer satisfaction, and innovation. The company has 294 msf of planned projects with 47 msf of projects under construction.

DLF's primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals. Its exposure across businesses, segments and geographies, mitigates any down-cycles in the market. From developing 22 major colonies in Delhi, DLF is now present across 15 states-24 cities in India.

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