Rubicon Point Partners | January 25, 2022
Rubicon Point Partners ("Rubicon"), a woman and minority-owned real estate company specializing in transformative investments, announced its recent acquisition of the iconic Rotunda Building in downtown Oakland from Rotunda Partners II, who have owned the building since 1999 and will continue as a minority owner. Featuring some of the Bay Area's best examples of Beaux-Arts architecture, the building also features a four-story parking garage.
Rubicon plans to roll out its "Work From Here" program and put in place a sustainability plan to reduce the building's carbon footprint.
The "Work From Here" program focuses on creating workspaces that are amenitized in ways not available at home, emphasizing employee health and wellness while enabling employers to better accommodate a hybrid workforce. Rubicon plans to introduce a state-of-the-art fitness facility, upgraded common areas, hybrid digital conferencing and collaboration infrastructure.
We are honored and humbled to be the caretakers of the historic and beautiful Rotunda. We look forward to implementing an improvement plan that will honor its history but also modernize it to allow for a new generation of companies to thrive, We are especially excited to work with key stakeholders to activate Frank Ogawa Plaza and integrate it with the building's indoor space. This indoor-outdoor environment is rare in urban settings like downtown Oakland."
Ani Vartanian, Rubicon's co-managing partner.
Situated at Frank Ogawa Plaza across from City Hall in Downtown Oakland, the property was built in 1912 and originally designed by Bay Area architect Charles Dickey, who fitted a dramatic elliptical glass dome in the interior atrium. At the time, the dome was said to be the largest of its kind. He was also known for developing a diverse architectural style, fusing elements of Hawaiian and Beaux-Arts design. Dickey's most recognizable California creations, the Oakland Rotunda Building and Claremont Hotel, proudly sit on the National Register of Historic Places.
In the early 2000s, prior ownership of the Rotunda reinforced its structure with a full seismic retrofit following the 1989 Loma Prieta Earthquake, transforming it into one of the safest historic spaces in Downtown Oakland.
We selected Rubicon because of their track record in transforming historic assets and are confident that they will be great custodians of this Oakland jewel."
Phil Tagami, one of the managing partners at Rotunda Partners II.
Rubicon purchased the eight-story property through the Rubicon First Ascent Fund, seeing an opportunity to simultaneously preserve an Oakland treasure while reducing its environmental impact. The firm has been busily transforming similar historic spaces from California to Washington for the past decade such as 450 Shotwell, the Storek building, 1125 Mission Street and Masin Block.
Rubicon plans to continue offering the building to be used as an event space for galas and events that benefit the City and are essential to the success of the people of Oakland.
Being good environmental stewards is important to us at Rubicon. In addition to modernizing the Rotunda, we plan to reduce the building's carbon footprint in the process. We hope the Rotunda Building will serve as a blueprint for how historic spaces can remain sustainable for future generations, Our playbook at the Rotunda Building involves investments in the building systems and the deployment of our technology stack, including machine learning utility management systems. All of these serve to increase efficiency while reducing the building's carbon footprint."
Razmig Boladian, Rubicon's co-managing partner.
About Rubicon Point Partners
When workspaces call for out-of-the-box innovations, Rubicon delivers creative, environmentally driven, and socially responsible solutions. Since its inception, the San Francisco-based woman and minority-owned investment firm has transformed over 2 million square feet of space to sustainably house companies of all sizes, making way for future generations of talented leaders, thinkers, and creators.
REAL ESTATE TECHNOLOGY
Paraiso Real Estate | April 27, 2022
Paraiso Real Estate, a real estate rental and sales agency has launched its own token for its upcoming vacation rental portfolio. Founded by blockchain and real estate entrepreneur, Eric Klein, Paraiso Real Estate will allow exclusive access to its LATAM rental units for the firm's token holders and investors. The firm says it plans to remove centralised platforms such as Airbnb to provide a more private, upscale and exclusive experience. More details can be found in the firm's discord.
Paraiso Real Estate operates much like a traditional vacation rental company. It offers private rentals with hotel amenities in some of the world's most beautiful destinations – starting with Medellin. What separates the firm from its competitors is the branded membership experience that users will receive including access to a variety of luxury rentals, spa services, massages, business amenities, networking opportunities, and more.
"We're mobilizing the hotel industry" Eric Klein says. "Whether it's a villa, condo or penthouse, guests can expect consistent hospitality across the platform. Our vision is to provide elevated rentals with units around the world and guests have access to these properties through our token."
Paraiso Real Estate launched on Unicrypt last week with their pre-sale selling out in under 20 minutes. The token went public on PancakeSwap on April 20th. The firm is anticipating a sharper rise once listed on CoinGecko, CoinMarketCap and other leading exchanges and indexes. To date, Paraiso already has over 700 members between their discord and telegram groups.
We've done zero marketing. That goes to show that people are ready for a product like this. It's the way of the future. We expect to have over 60 properties by the end of 2022 and a membership base of over 1,000 token holders."
Maria Caudia says, Director of Operations
REAL ESTATE INVESTMENT
Walker & Dunlop, Inc. | May 13, 2022
Walker & Dunlop, Inc. announced that it structured $47,000,000 in financing for the development of The Line, a 219-unit, Class A+ multifamily project in Savannah, Georgia. Situated just three blocks from the Savannah River, the development is within walking distance to all of Savannah's outstanding retail and lifestyle amenities.
Located in Savannah's downtown area, the property is within the bounds of a designated Economic Opportunity Zone census tract. Opportunity zones were established by Congress in the Tax Cuts and Jobs Act of 2017 and encourage long-term investments in designated low-income areas by offering incentives in the form of lower or deferred capital gains taxes.
Led by Chris Rumul and Taylor Williams, Walker & Dunlop arranged the construction financing on behalf of the developer, Standard Communities, a leading national multifamily housing investor and developer and repeat client. Collaborating across the Walker & Dunlop platform, the team pooled resources from their FHA Finance and Capital Markets groups to identify the ideal financing source for their client. The resulting financing was sourced from a regional life insurance company and includes both construction and permanent financing in a single loan. The team worked to ensure the financing terms were consistent with opportunity zone guidance, securing a 12-year construction term with four years of interest-only payments.
We are incredibly proud to play a part in the development of such a unique project and are excited to bring this distinctive, elevated living experience to Savannah. Thanks to the diligent work by our funding partners, The Line will fulfill a much-needed demand for multifamily rentals in this rapidly growing area."
Jeffrey Jaeger, Co-Founder and Principal of Standard Communities
Standard's primary goal will be to maintain the integrity of the property's original structure while combining the benefits and amenities of a new construction, modern apartment community. The resulting community will include two buildings in total and will fit seamlessly into the old-meets-new vibe of downtown Savannah. The Line will feature a full upscale amenity package, including a terrace level with a pool, sundeck, fitness center, and grill area. The project will also include onsite parking, a clubroom with views of Downtown Savannah and the Savannah River, and resident storage. Savannah boasts a vibrancy that attracts young professionals, relocated families, and tourists. The region's dynamic economy has drawn large corporations, such as Gulfstream, Savannah's largest employer, which employs around 9,800 people at its production facility.
Walker & Dunlop is the third largest provider of capital to the U.S. multifamily market, originating $49 billion in transactions and lending over $42 billion for multifamily properties in 2021. With one of the strongest networks in the industry, the firm's 2021 brokered loan originations totaled $30 billion, a 170% increase over 2020.
About Walker & Dunlop
Walker & Dunlop is one of the largest providers of capital to the commercial real estate industry, enabling real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology makes us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With over 1,300 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.
REAL ESTATE TECHNOLOGY
JPAR - Real Estate | March 23, 2022
JPAR Real Estate, America's #1 fastest-growing, full service 100% commission brokerage, announced the acquisition of John Walton Realtors in Lubbock Texas. John Walton Realtors has been serving the Lubbock community for more than 45 years. With nearly 40 sales associates, they have a long standing legacy of serving the West Texas market that is consistent with the values of JPAR - Real Estate - integrity, productivity and service.
We are excited to join forces with Wayne and Wendy Walton and all the associates of this amazing firm. Over the last 45 years they have created a market presence and legacy of service that we take very seriously. Both firms are known for exceeding customer expectations and serving the local community. We look forward to continuing that tradition of excellence."
Mark Johnson, President of JPAR - Real Estate
The firm's Lubbock office will remain at its current location and Wayne Walton will join the JPAR - Real Estate staff as a support broker. Wayne Walton said, "I am excited to join the JPAR - Real Estate family. Mark Johnson is an exceptional leader and visionary who has his pulse on how best to serve today's real estate professionals and the consumer. Our associates will benefit from a world-class technology platform and full service, a capped, transaction-based financial model."
Lubbock is a new market for JPAR - Real Estate and is the 11th-most populous city in Texas. With a population of 257,141 in 2020, the city is also the 86th-most populous in the United States. Lubbock's nickname, "Hub City", derives from it being the economic, educational, and health-care hub of the multi-county region, north of the Permian Basin and south of the Texas panhandle.
"It was important for us to partner with a solid operator like JPAR – Real Estate. Mark Johnson and the JPAR team understand the real estate brokerage business," stated Wayne Walton. We support their mission to develop influential industry leaders and we feel confident its industry-leading marketing, technology and training programs will benefit all of our associates and extend our legacy for years to come."
About JPAR - Real Estate
JPAR - Real Estate and JPAR Franchising is a full-service real estate brokerage and franchise platform offering a highly competitive transaction fee-based model and agent-centric culture. The JPAR platform provides agents 7 day-per-week broker support, physical office locations, a comprehensive tech stack and open architecture, physical office locations, marketing, lead generation, training, coaching, mentoring and agent health care. The company boasts more than 3,300 agents operating in 65 offices across 25 states and closes more than $8B annually in sales volume.