Real Estate Technology
prnewswire | September 14, 2023
GID, a real estate owner and fiduciary that invests in multiple asset classes, has announced that its industrial team, GID Industrial, has been named a 2023 Influencer in Industrial by GlobeSt. Real Estate Forum. This award recognizes distinguished individuals, teams, and companies for notable achievements within the industrial real estate sector.
"GID Industrial is honored to receive this prestigious recognition," says Rene Circ, co-head of GID Industrial. "In the three years since we formed our team, we have built an impressive portfolio that has sustained occupancy and offers potential for continued rent growth. We aim to continue our portfolio expansion, targeting opportunities that offer strong potential for long-term growth."
GID has been active in the industrial sector since 1986 and officially launched its industrial platform in 2020. In the three years after the platform's launch, the team has accomplished significant growth within the sector, executing stabilized, value-add, and development transactions. This diverse mix allows the team to provide its partners with investment opportunities tailored to their unique risk and return preferences. The platform currently operates more than 25M square feet of industrial space in top markets across the country.
"GID Industrial's key differentiator is the expertise and passion of our team," says Michael Wenaas, co-head of GID Industrial. "With 30 individuals boasting an average of 21 years of experience in the sector, our team is well equipped to provide unique value to our partners by offering a practiced, holistic perspective on the state of the industry. Our achievements over the last three years are a credit to the powerhouse team that we have assembled."
GlobeSt. Real Estate Forum Influencers in Industrial are selected by its editors based on nominations that outline the nominee's accomplishments and impact on the sector.
GID is a leading real estate investment and management firm that operates a diverse portfolio of multifamily, industrial, and mixed-use developments across the United States. With over 60 years of experience across multiple asset classes, GID is an established real estate private equity investor and fiduciary supported by an integrated operating platform with approximately 54,000 multifamily units and over 25M square feet of industrial and commercial space of assets under management. The company also operates a credit platform that aims to provide commercial real estate debt solutions for institutional borrowers.
With corporate offices in Atlanta, Boston, Dallas, New York City, and San Francisco, GID employs over 1,200 real estate professionals and operates an expansive portfolio of existing and under-development properties valued at over $30.1 billion1 as of June 2023.
1 Assets Under Management is calculated in compliance with the definition for Assets Under Management ("AUM") prescribed in INREV's Global Definitions Database.
Real Estate Technology, Real Estate Investment
PRweb | June 30, 2023
United® Real Estate (United) announced its second expansion in Huntsville, Alabama today, solidifying its position in the top three residential brokerages in the local market. United’s Leading Edge Real Estate Group, which joined United’s national network in 2022, and Huntsville-based Revolved Realty have merged operations.
The combined companies and their 300 agents will operate as Leading Edge Real Estate Group. Revolved Realty co-founder, Tim Knox joins the team as President to advance the long-term success of the combined operations and will remain the managing broker of two former Revolved Realty offices in Huntsville. No role changes are planned for Leading Edge Real Estate Group’s founders, Danny and Charlene Sullivan. Agents will gain additional new tools, training and resources deployed through United’s Bullseye™ Cloud proprietary productivity platform.
"The merger of these two great local brokerages, combined with the backing of our national partner United Real Estate, offers limitless opportunities for buyers and sellers across north Alabama and southern Tennessee. And for the thousands of REALTORS® who call this area home, our commitment to helping agents build long-term, legacy businesses has never been greater," stated Tim Knox and Chelsea McKinney, founders of Revolved Realty. "That's the banner we will carry as we go forth and expand our market share here and eventually statewide."
In today’s market, brokerages have a tremendous opportunity to join forces for long-term competitive advantage.
“Tim and his team bring new energy into the company. Together, we have great synergy and focus and can leverage each person’s expertise to accomplish goals that previously seemed insurmountable. The services and tools we’ll bring to our service footprint will be huge for our market and for the agents. Together, we are now the third-largest in unit sales in our marketplace, and our combined strengths are a catalyst for continued growth,” commented Danny & Charlene Sullivan, founders of Leading Edge Real Estate Group.
Over the last decade, the real estate industry has shifted from commission-split brokerage models to transaction-fee models. New-generation models that entered the market have shown growth, while legacy models have reported declines in agent count, sales volume and unit sales. COVID-19 magnified those trends. According to a data-backed study examining brokerage profitability by real estate tech strategist Mike DelPrete, United was one of two national brokerages to be profitable in Q1 2023.
As brokerages move further into the new real estate market, change and innovation will become imperative for survival. In hindsight, we will look back and realize 2023 was the turning point for both legacy and new-generation models.
“Danny, Tim, Charlene, Chelsea and their respective employees and agents are creating forward momentum. What’s very exciting is that we have a carefully crafted strategic plan to navigate their agents successfully into the future. Today’s real estate landscape is vastly different than just five years ago, and these entrepreneurs are leveraging their unique talents and United Real Estate’s national resources to great advantage for their company and agents,” stated Rick Haase, President of United Real Estate.
About United Real Estate
United Real Estate (United) – a division of United Real Estate Group – was founded with the purpose of offering solutions to real estate brokers and agents in the rapidly changing real estate brokerage industry. United provides the latest training, marketing and technology tools to agents and brokers under a flat-fee, transaction-based agent commission model. By leveraging the company’s proprietary cloud-based Bullseye™ Agent & Broker Productivity Platform, United delivers a more profitable outcome for agents and brokers. United Real Estate operates in 33 states with 148 offices and 18,500 agents. The company produced over 77,900 transactions and $27.9 billion in sales volume in 2022.
About Leading Edge Real Estate Group
Founded in 2013 by Danny and Charlene Sullivan, Leading Edge Real Estate Group’s mission is “Leading the way, using cutting-edge technology to sell your home quickly and effectively while having fun in the process.” The company is committed to professionalism and quality and serves the real estate needs of clients throughout North Alabama.
About Revolved Realty
Founded in 2018 by Tim Knox and Chelsea McKinney, Revolved Realty was built on the premise that buying or selling a home is more than just a transaction: it’s a life-changing experience. Their team of highly-seasoned real estate professionals is dedicated to providing exceptional, personalized service for all clients throughout North Alabama. A champion of relationships, Revolved Realty agents work relentlessly on the client’s behalf to achieve their real estate goals.
Real Estate Technology, Real Estate Investment
PRnewswire | June 29, 2023
Reggora, an appraisal management software company that is modernizing residential real estate valuation for mortgage lenders, announced today the launch of its appraisal review solution, Reggora Appraisal Review. This innovative software is set to transform the appraisal analysis process for mortgage lenders by significantly reducing repurchase risk and ensuring every appraisal meets the correct quality standards.
Reggora Appraisal Review leverages cutting-edge artificial intelligence (AI) and machine learning algorithms to automate and streamline the appraisal review workflow. With its advanced natural language processing capabilities, the software swiftly analyzes appraisal reports, identifies key data points, inconsistencies, and potential red flags.
For example, the solution uses advanced AI technology to detect bias in reports far more accurately than lexicon-based tools — so underwriters remain confident in the objectivity of their appraisals, without wasting time reviewing false positives. For instance, consider a report that mentions a property located in the city of "Race Point Beach." While the term "Race" would trigger a keyword-based bias detection tool, Reggora's AI-powered algorithm can discern the context and understand that it is simply the name of the city. By analyzing the report's language, tone, and content comprehensively, AI ensures that lenders can swiftly identify genuine instances of bias, avoiding unnecessary scrutiny and enabling them to focus their review efforts on reports that truly require attention.
With this groundbreaking solution, manual appraisal review becomes far more efficient. Reggora Appraisal Review significantly reduces human error, enhances efficiency, and ensures accuracy. By thoughtfully automating the review process, mortgage professionals can expedite their review cycles, reducing turnaround times and accelerating the loan origination process.
One of the critical features of Reggora Appraisal Review is its ability to reduce repurchase risk. By customizing rule sets and quality control checks, mortgage lenders can align their appraisal review processes with industry regulations, investor guidelines, and internal policies. This comprehensive compliance and risk mitigation capability empowers mortgage professionals to mitigate costly repurchase demands, protecting their financial stability and reputation.
Seamless integration with existing loan origination systems further enhances operational productivity. The user-friendly interface allows users to effortlessly navigate through appraisal reports, highlight critical information, and annotate directly on the documents. Comprehensive audit trails ensure transparency and facilitate collaboration between stakeholders.
"Reggora Appraisal Review represents a significant step forward in the mortgage industry," said Brian Zitin, CEO of Reggora. "We are committed to empowering mortgage professionals with cutting-edge technology that drives efficiency, reduces risk, and ultimately allows them to originate loans much faster."
This all-new review solution accompanies Reggora's existing suite of integrations with leading third-party review tools.
Reggora Appraisal Review caters to the unique needs of diverse stakeholders, providing customizable features that can be tailored to individual business requirements. Whether a small regional lender or a large national lender, this software offers a flexible and scalable solution.
Reggora is driving appraisal innovation with a modern, two-sided platform for mortgage lenders and appraisal vendors. Through advanced and configurable workflows, Reggora streamlines the entire appraisal process for everyone involved, while improving the overall borrower experience. Lenders and appraisers benefit from payment processing, automatic appraisal ordering, rule-based reviews, appraisal delivery, status updates, and more, creating unprecedented operational efficiency.
Real Estate Technology, Real Estate Investment
PRNasia | July 17, 2023
MRI Software has acquired Loci Solutions Group Pty Limited, an Australian property technology consulting and outsourced managed services company serving commercial, industrial, and retail property markets across Asia Pacific.
Loci Solutions is well-known as an MRI Certified Partner specialising in the implementation of property management systems (PMS) for property developers, managers, and owners/investors. It also provides value-add outsourced accounting and lease administration services, as well as concierge support.
David Bowie, Senior Vice President and Managing Director for MRI Software in Asia Pacific, said, "I'm excited to officially welcome Nikki, Gwen, and the rest of the Loci team to MRI. This acquisition strengthens our MRI @Work™ capabilities and enables us to scale and better support our commercial clients in their business growth. We're particularly excited to add Loci's outsourced lease administration services to our portfolio, helping clients automate manual tasks, reduce costs, and accelerate time to value."
"Loci has been one of our key partners for over 15 years, serving as our primary implementation partner for Property Management X (PMX) in APAC for most of this time. As we integrate Loci's capabilities into our solution suite, our clients will have a more consistent experience and further benefit from our combined PropTech expertise," he said.
Loci co-founder to lead MRI @Work Professional Services and Support
Loci CEO and co-founder, Nikki Steadman, will lead the APAC MRI @Work Professional Services and Support team, which supports some of Australia's largest and most complex commercial real estate portfolios.
Speaking in her new capacity as Head of MRI Professional Services and Support for MRI @Work, Asia Pacific, Ms. Steadman says, "We've felt like an extension of the MRI family for the last 15 years, and it's an honour to be formalising our relationship. Creating a united team like this allows an even more integrated approach for our commercial clients. I am really excited about the depth and breadth of service and product we're able to offer together. It's my privilege to now lead the unified team as we work from beginning to end in a client's journey and success."
Mr. Bowie says, "Rest assured, MRI remains committed to our core value of providing clients the ability to choose the service providers that best meet their business needs. We look forward to continuing to grow and enable our managed services and consulting partner ecosystem to meet client demands and deliver world class services with a sole focus of client success."
The financial terms of the deal are confidential.
About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI's open and connected, AI-first platform empowers owners, operators and occupiers in commercial and residential property organisations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than six million users worldwide. Through innovative solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to realise their vision of building thriving communities and stronger businesses. For more information, please visit mrisoftware.com/au.