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AECOM-Canyon Partners and Tucker Announce Mixed-Use Development in Chicago Metro Area

Tucker Development | November 22, 2021

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AECOM-Canyon Partners and Tucker Development ("Tucker") today announce their partnership to develop a mixed-use project in Lincolnwood, Illinois, a premier suburb outside of Chicago. The project ("District 1860") will consist of 299 mid-rise multifamily units, an Amazon Fresh grocery store and over 40,000 leasable square-footage of additional retail and restaurant space. The joint venture simultaneously closed on a senior construction loan from Pacific Western Bank ("PWB") and construction has already begun.

In close proximity to downtown Chicago and Evanston, the transit-oriented development is readily accessible to major highways, Oakton-Skokie CTA and Edgebrook Metra train stations. The complex will also have easy access to neighboring employment hubs as well as Chicago O'Hare International Airport. At closing, the retail space is 65% pre-leased and will notably feature an Amazon Fresh grocery store. The development will include additional retail space with multiple dining options, public space for gatherings as well as Class-A multifamily units with high end finishes and amenities.

"We are excited to partner with AECOM-Canyon on this dynamic & transformative project. We'd like to thank the Village of Lincolnwood and Mayor Jesal Patel for their strong & unwavering support of District 1860."

- Richard H. Tucker at Tucker

The project is expected to be completed during 2023.

About AECOM-Canyon Partners
AECOM-Canyon Partners is a joint venture between AECOM Capital, the real estate investment management arm of global infrastructure firm AECOM, and Canyon Partners, LLC, a global alternative asset management firm with over $27 billion in assets under management. AECOM-Canyon Partners was established to develop large-scale, institutional quality commercial real estate projects in top U.S. markets. In addition to capital, AECOM-Canyon Partners provides best-in-class design, construction management and engineering expertise as well as credit support for its development partners.

About Tucker Development
Tucker Development, founded in 1996 & based in Chicago, IL, is leading developer & manager of mixed-use properties and shopping centers in key Midwest & East Coast barrier-to-entry markets.  The company, led by Richard Tucker (founder & CEO) and Aaron Tucker (CIO), pursues mixed-use and retail-related real estate investments that provide an opportunity to enhance value through development, redevelopment, repositioning & recapitalization. 

About Pacific Western Bank
Pacific Western Bank is a commercial bank with over $35 billion in assets headquartered in Los Angeles, California, with an executive office in Denver, Colorado. The Bank has 69 full-service branches located in California, with one branch located in Durham, North Carolina, and one branch located in Denver, Colorado. We offer national lending products including asset-based, equipment, and real estate loans and treasury management services to established middle-market businesses.

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Real Estate Technology

GlobeSt. Real Estate Forum Names GID Industrial among its Influencers in Industrial Real Estate

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. About GID 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.

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Market Outlook, Mortgage and Lending

Valligent Integrates with ICE Mortgage Technology to Provide Lenders with a Full Spectrum of Valuation Options

Businesswire | July 10, 2023

Today, Valligent a market-leading appraisal management company, recently acquired by VerosTM, an industry leader in enterprise risk management and collateral valuation services, announced their integration to the ICE Mortgage Technology™ Platform. Through this integration, mortgage industry stakeholders have the most efficient access to all collateral valuation related products and services. The combined forces of Valligent and Veros provide lenders with a unified ecosystem of solutions for a compliant, efficient, and accurate valuation process. By partnering with Valligent and leveraging the ICE Mortgage Technology® Platform, lenders will have access to a seamless technology solution that can solve all property valuation and collateral risk management needs. A full spectrum of valuation products is available including traditional appraisals, AVMs, desktop valuations, and the only 4-hour Evaluation product for equity lending. “Integrating with Encompass® by ICE Mortgage Technology® was always part of the plan when we acquired Valligent,” said Darius Bozorgi, CEO of Veros Software. “Providing a streamlined experience with our full spectrum of appraisal, valuation data and analytics and related collateral risk management solutions has always been our priority. Our partnership with ICE Mortgage Technology enables Veros and Valligent to drive more efficiency for all our customers. Collectively, we can expand our products and services to meet the demands of the digital mortgage industry.” About Valligent Founded in 2003 and headquartered in Roseville, California Valligent established itself as a leader in appraisal, alternative valuation, QC and Regulatory Audit solutions. Utilizing a combination of experienced property valuation personnel, automation, Artificial Intelligence, powerful functionality, and mobile technology, Valligent is dedicated to making the property valuation process simple and efficient for everyone involved. Valligent provides comprehensive valuation technology expertise and services to hundreds of banks, credit unions, mortgage lenders and insurance companies nationally. We have developed a state-of-the-art valuation technology platform, fully integrated with best-in-class data providers, Loan Origination Systems (LOS) and on-demand cloud computing platforms and API providers. For more information, visit valligent.com. About Veros A mortgage technology innovator since 2001, Veros is a proven leader in enterprise risk management and collateral valuation services. The firm combines the power of predictive technology, data analytics, and industry expertise to deliver advanced automated solutions that control risk and increase profits throughout the mortgage industry, from loan origination to servicing and securitization. Veros’ services include automated valuation, fraud, and risk detection, portfolio analysis, forecasting, and next-generation collateral risk management platforms. Veros is the primary architect and technology provider of the GSEs’ Uniform Collateral Data Portal® (UCDP®). Veros also works closely with the FHA to support its Electronic Appraisal Delivery (EAD) portal. The company is also making the home buying process more efficient for our nation’s Veterans through its appraisal management work with the Department of Veterans Affairs. About ICE Mortgage Technology ICE Mortgage Technology® is part of ICE (NYSE: ICE), a global data, technology and market infrastructure company that designs, builds, and operates digital networks to connect people to opportunity. Backed by ICE’s global resources, we offer a truly differentiated digital platform that provides straight-through processing for a more comprehensive end-to-end workflow than any other provider in the market. We reach almost every mortgage in the U.S. by combining the native automation of Encompass® with the e-collaboration and e-recording capabilities of Simplifile®, along with the national electronic registry for nearly 90% of the U.S. mortgage market in MERS®. Ultimately, our technology enables people across the industry to focus on personal connections when they need it most, and support borrowers for a better journey of homeownership. Visit icemortgagetechnology.com to learn more. ICE Mortgage Technology combines technology, data, and expertise to help automate the mortgage process, from consumer engagement through loan registration, and every step and task in between. ICE Mortgage Technology is the leading cloud-based loan origination platform provider for the mortgage industry, with solutions that enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring high levels of compliance, quality, and efficiency. Visit icemortgagetechnology.com or call (877) 355-4362 to learn more.

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Home and Design

Ribbon, Now Powered by EasyKnock, Relaunches Product in Atlanta and Charlotte Real Estate Markets, Bringing Advantage to Buyers, and Sellers

EasyKnock | August 17, 2023

Ribbon, powered by EasyKnock, announces today that RibbonCash – its pioneering cash offer solution – has relaunched in Atlanta and Charlotte. As one of the pioneers of powerbuying solutions, Ribbon has considered Atlanta and Charlotte as its historical home base, driving the company’s success since its founding in 2017. Ribbon’s product reached around 2 percent of the overall closings in the Atlanta market in 2022, an achievement indicative of the appetite for homeownership. “The EasyKnock and Ribbon teams could not be more excited to announce the return of RibbonCash to Charlotte and Atlanta,” said Jarred Kessler, CEO of EasyKnock. The Southeast in general remains competitive according to Bankrate’s Housing Heat Index. According to the index, despite price declines elsewhere in the United States, the Southeast has held steady due to comparatively affordable prices. Ribbon aims to tap into this reality for everyday homebuyers who seek ways to achieve homeownership for themselves or their family. “We believe the Southeast maintains a culture of homeownership that withstands shifts in the market. Mortgage rates and inventory may ebb and flow, but achieving homeownership - and seeking the leading tools to compete - has not,” Kessler said. “We continue to be bullish on Atlanta, Charlotte, and the Southeast overall.” By working with real estate agents and loan officers, and not competing with them as a direct-to-consumer offering like iBuyers, Ribbon sustains its reputation for empowering the real estate ecosystem. EasyKnock acquired the assets of Ribbon in 2023. Both EasyKnock and Ribbon have forged strong partnerships in residential real estate by using best-in–class technology that connects consumers with loan officers, real estate agents, and other participants in the homebuying and home selling experience. Together, Ribbon and EasyKnock are ushering in a new chapter for the real estate industry, creating a one-stop shop for financial solutions that serve homeowners, buyers, and sellers across the country. About EasyKnock EasyKnock is the first-to-market, technology-enabled residential sale-leaseback company in the U.S. Through innovative and accessible solutions, American homeowners who sell their property to EasyKnock can remain in their homes as renters while still getting the cash they need to pursue their financial goals. Headquartered in New York City and founded in 2016, EasyKnock has team members nationwide working to help homeowners unlock their financial freedom through non-loan programs so they can pay off debts, buy their dream home, fund a venture, and more - all while maintaining the ability to stay in their homes and communities. In 2023, EasyKnock acquired the assets of Ribbon Home and continues to offer Ribbon products to customers.

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Real Estate Investment

PIONEERING REAL-ESTATE TECH COMPANY MODWELL & CHRISTIE'S INTERNATIONAL REAL ESTATE PARTNER TO PUT MODERN SELLING TOOLS IN THE HANDS OF TOP AGENTS

PRnewswire | August 08, 2023

Modwell, the design technology company transforming how the $4 trillion dollar global realty market buys, sells and lists properties, and Christie's International Real Estate, today announced a first-of-its kind partnership that will provide top agents of the world's leading high-value real estate brand with access to its game-changing suite of real estate listings solutions. The partnership between the two companies will give 50 of Christie's International Real Estate's Masters Circle agents – the highest grossing agents across the brand's U.S. network – the ability to leverage Modwell's proprietary and patented tech-based design platform in order to showcase home listings in an unprecedented, modernized fashion, drive sales and help future buyers envision the full potential of any home, apartment or property lot. The Modwell infrastructure is even flexible enough to accommodate developer-ready parcels. Specifically, these Christie's International Real Estate Masters Circle agents, representing 39 luxury markets across at least 15 states, will be able to access Modwell's suite of solutions including: Enhanced Listings. Which takes an existing property and applies 3D scanning and modeling technology in order to reimagine and fully realize the untapped design potential of any property's interior and exterior. From there, agents will be able to share design exhibits via their own user profile directly to their network of clients in order to sell more, faster. Next Gen 3D Showrooms. Modwell's virtual "warehouse" that curates a highly individual aggregated listings experience for real-estate professionals and their organizations. These digital showrooms are designed so that agents can showcase featured properties and attach their personal showrooms to Modwell's larger Masterbrand Showroom. Consumer Home Vaults. Created to supercharge referrals (which make up 82% of agent revenues in the U.S.), this interactive solution gives agents an opportunity to maintain more meaningful relationships with their clients over the lifetime of their home ownership. Clients are invited onto Modwell's platform in order to fully document their home by uploading their surveys, floor plans, 3D models and more into a purpose-built design hub. "We're thrilled to be able to work with an esteemed brand like Christie's International Real Estate. Technology has enabled consumers to change how they live their lives – from how they communicate, to what, when and how they connect with content, to how they purchase goods and services. While home buying should be no different, and 97% of consumers use online tools when buying a home, listings have remained legacy based. Modwell is changing that paradigm through advanced technology and we're excited that Christie's International Real Estate's top agents will be able to leverage our platform in a way we think will help them sell more," said Jonathan Reisman, Co-Founder, Modwell. "Christie's International Real Estate has a rich and storied history as a market leader and a lot of that has to do with continually giving our agents innovative ways to engage with potential clients. Our program with Modwell continues that high standard and we're excited to get their technology into the hands of our top agents in order to drive a more efficient and interactive process," said Thad Wong, co-CEO of Christie's International Real Estate. In under a year, Modwell has disrupted an industry stuck in legacy models, creating the highest fidelity 3D technology to power a better overall real estate experience for both buyers and sellers across a varied array of industry verticals and segments. The company was selected for the prestigious Moderne Ventures' Passport Program, a six-month industry immersion program that catalyzes the growth of its companies by offering its participants education, mentorship, and pilot opportunities with new customers via access and exposure to Moderne's Network of real estate – and real estate adjacent – industry leaders. The program is highly selective with the Moderne Ventures team evaluating over 4,500 companies a year, but selecting on average 6 to 10 companies per class. In February, the company's technology was prominently featured in the Bravo hit "Million Dollar Listings'' and, more recently, it provided the technology behind a prominent Robb Report listing and article. About Christie's International Real Estate Christie's International Real Estate has successfully marketed high-value real estate around the world for more than 30 years. Through its invitation-only Affiliate network spanning nearly 50 countries and territories, Christie's International Real Estate offers incomparable services to a global clientele at the luxury end of the residential property market. About Modwell Modwell is a design tech company whose first-of-its-kind collaborative platform and tools empower agents and buyers to modernize their real estate experience. While other industries have evolved to match our 21st century lifestyles and preferences, real estate has stayed relatively the same. Modwell was founded in 2020 by architecture and marketing veterans who not only set out to close that gap but who have a clear vision for where real estate is going as the world embraces virtual realities.

Read More

Real Estate Technology

GlobeSt. Real Estate Forum Names GID Industrial among its Influencers in Industrial Real Estate

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. About GID 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.

Read More

Market Outlook, Mortgage and Lending

Valligent Integrates with ICE Mortgage Technology to Provide Lenders with a Full Spectrum of Valuation Options

Businesswire | July 10, 2023

Today, Valligent a market-leading appraisal management company, recently acquired by VerosTM, an industry leader in enterprise risk management and collateral valuation services, announced their integration to the ICE Mortgage Technology™ Platform. Through this integration, mortgage industry stakeholders have the most efficient access to all collateral valuation related products and services. The combined forces of Valligent and Veros provide lenders with a unified ecosystem of solutions for a compliant, efficient, and accurate valuation process. By partnering with Valligent and leveraging the ICE Mortgage Technology® Platform, lenders will have access to a seamless technology solution that can solve all property valuation and collateral risk management needs. A full spectrum of valuation products is available including traditional appraisals, AVMs, desktop valuations, and the only 4-hour Evaluation product for equity lending. “Integrating with Encompass® by ICE Mortgage Technology® was always part of the plan when we acquired Valligent,” said Darius Bozorgi, CEO of Veros Software. “Providing a streamlined experience with our full spectrum of appraisal, valuation data and analytics and related collateral risk management solutions has always been our priority. Our partnership with ICE Mortgage Technology enables Veros and Valligent to drive more efficiency for all our customers. Collectively, we can expand our products and services to meet the demands of the digital mortgage industry.” About Valligent Founded in 2003 and headquartered in Roseville, California Valligent established itself as a leader in appraisal, alternative valuation, QC and Regulatory Audit solutions. Utilizing a combination of experienced property valuation personnel, automation, Artificial Intelligence, powerful functionality, and mobile technology, Valligent is dedicated to making the property valuation process simple and efficient for everyone involved. Valligent provides comprehensive valuation technology expertise and services to hundreds of banks, credit unions, mortgage lenders and insurance companies nationally. We have developed a state-of-the-art valuation technology platform, fully integrated with best-in-class data providers, Loan Origination Systems (LOS) and on-demand cloud computing platforms and API providers. For more information, visit valligent.com. About Veros A mortgage technology innovator since 2001, Veros is a proven leader in enterprise risk management and collateral valuation services. The firm combines the power of predictive technology, data analytics, and industry expertise to deliver advanced automated solutions that control risk and increase profits throughout the mortgage industry, from loan origination to servicing and securitization. Veros’ services include automated valuation, fraud, and risk detection, portfolio analysis, forecasting, and next-generation collateral risk management platforms. Veros is the primary architect and technology provider of the GSEs’ Uniform Collateral Data Portal® (UCDP®). Veros also works closely with the FHA to support its Electronic Appraisal Delivery (EAD) portal. The company is also making the home buying process more efficient for our nation’s Veterans through its appraisal management work with the Department of Veterans Affairs. About ICE Mortgage Technology ICE Mortgage Technology® is part of ICE (NYSE: ICE), a global data, technology and market infrastructure company that designs, builds, and operates digital networks to connect people to opportunity. Backed by ICE’s global resources, we offer a truly differentiated digital platform that provides straight-through processing for a more comprehensive end-to-end workflow than any other provider in the market. We reach almost every mortgage in the U.S. by combining the native automation of Encompass® with the e-collaboration and e-recording capabilities of Simplifile®, along with the national electronic registry for nearly 90% of the U.S. mortgage market in MERS®. Ultimately, our technology enables people across the industry to focus on personal connections when they need it most, and support borrowers for a better journey of homeownership. Visit icemortgagetechnology.com to learn more. ICE Mortgage Technology combines technology, data, and expertise to help automate the mortgage process, from consumer engagement through loan registration, and every step and task in between. ICE Mortgage Technology is the leading cloud-based loan origination platform provider for the mortgage industry, with solutions that enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring high levels of compliance, quality, and efficiency. Visit icemortgagetechnology.com or call (877) 355-4362 to learn more.

Read More

Home and Design

Ribbon, Now Powered by EasyKnock, Relaunches Product in Atlanta and Charlotte Real Estate Markets, Bringing Advantage to Buyers, and Sellers

EasyKnock | August 17, 2023

Ribbon, powered by EasyKnock, announces today that RibbonCash – its pioneering cash offer solution – has relaunched in Atlanta and Charlotte. As one of the pioneers of powerbuying solutions, Ribbon has considered Atlanta and Charlotte as its historical home base, driving the company’s success since its founding in 2017. Ribbon’s product reached around 2 percent of the overall closings in the Atlanta market in 2022, an achievement indicative of the appetite for homeownership. “The EasyKnock and Ribbon teams could not be more excited to announce the return of RibbonCash to Charlotte and Atlanta,” said Jarred Kessler, CEO of EasyKnock. The Southeast in general remains competitive according to Bankrate’s Housing Heat Index. According to the index, despite price declines elsewhere in the United States, the Southeast has held steady due to comparatively affordable prices. Ribbon aims to tap into this reality for everyday homebuyers who seek ways to achieve homeownership for themselves or their family. “We believe the Southeast maintains a culture of homeownership that withstands shifts in the market. Mortgage rates and inventory may ebb and flow, but achieving homeownership - and seeking the leading tools to compete - has not,” Kessler said. “We continue to be bullish on Atlanta, Charlotte, and the Southeast overall.” By working with real estate agents and loan officers, and not competing with them as a direct-to-consumer offering like iBuyers, Ribbon sustains its reputation for empowering the real estate ecosystem. EasyKnock acquired the assets of Ribbon in 2023. Both EasyKnock and Ribbon have forged strong partnerships in residential real estate by using best-in–class technology that connects consumers with loan officers, real estate agents, and other participants in the homebuying and home selling experience. Together, Ribbon and EasyKnock are ushering in a new chapter for the real estate industry, creating a one-stop shop for financial solutions that serve homeowners, buyers, and sellers across the country. About EasyKnock EasyKnock is the first-to-market, technology-enabled residential sale-leaseback company in the U.S. Through innovative and accessible solutions, American homeowners who sell their property to EasyKnock can remain in their homes as renters while still getting the cash they need to pursue their financial goals. Headquartered in New York City and founded in 2016, EasyKnock has team members nationwide working to help homeowners unlock their financial freedom through non-loan programs so they can pay off debts, buy their dream home, fund a venture, and more - all while maintaining the ability to stay in their homes and communities. In 2023, EasyKnock acquired the assets of Ribbon Home and continues to offer Ribbon products to customers.

Read More

Real Estate Investment

PIONEERING REAL-ESTATE TECH COMPANY MODWELL & CHRISTIE'S INTERNATIONAL REAL ESTATE PARTNER TO PUT MODERN SELLING TOOLS IN THE HANDS OF TOP AGENTS

PRnewswire | August 08, 2023

Modwell, the design technology company transforming how the $4 trillion dollar global realty market buys, sells and lists properties, and Christie's International Real Estate, today announced a first-of-its kind partnership that will provide top agents of the world's leading high-value real estate brand with access to its game-changing suite of real estate listings solutions. The partnership between the two companies will give 50 of Christie's International Real Estate's Masters Circle agents – the highest grossing agents across the brand's U.S. network – the ability to leverage Modwell's proprietary and patented tech-based design platform in order to showcase home listings in an unprecedented, modernized fashion, drive sales and help future buyers envision the full potential of any home, apartment or property lot. The Modwell infrastructure is even flexible enough to accommodate developer-ready parcels. Specifically, these Christie's International Real Estate Masters Circle agents, representing 39 luxury markets across at least 15 states, will be able to access Modwell's suite of solutions including: Enhanced Listings. Which takes an existing property and applies 3D scanning and modeling technology in order to reimagine and fully realize the untapped design potential of any property's interior and exterior. From there, agents will be able to share design exhibits via their own user profile directly to their network of clients in order to sell more, faster. Next Gen 3D Showrooms. Modwell's virtual "warehouse" that curates a highly individual aggregated listings experience for real-estate professionals and their organizations. These digital showrooms are designed so that agents can showcase featured properties and attach their personal showrooms to Modwell's larger Masterbrand Showroom. Consumer Home Vaults. Created to supercharge referrals (which make up 82% of agent revenues in the U.S.), this interactive solution gives agents an opportunity to maintain more meaningful relationships with their clients over the lifetime of their home ownership. Clients are invited onto Modwell's platform in order to fully document their home by uploading their surveys, floor plans, 3D models and more into a purpose-built design hub. "We're thrilled to be able to work with an esteemed brand like Christie's International Real Estate. Technology has enabled consumers to change how they live their lives – from how they communicate, to what, when and how they connect with content, to how they purchase goods and services. While home buying should be no different, and 97% of consumers use online tools when buying a home, listings have remained legacy based. Modwell is changing that paradigm through advanced technology and we're excited that Christie's International Real Estate's top agents will be able to leverage our platform in a way we think will help them sell more," said Jonathan Reisman, Co-Founder, Modwell. "Christie's International Real Estate has a rich and storied history as a market leader and a lot of that has to do with continually giving our agents innovative ways to engage with potential clients. Our program with Modwell continues that high standard and we're excited to get their technology into the hands of our top agents in order to drive a more efficient and interactive process," said Thad Wong, co-CEO of Christie's International Real Estate. In under a year, Modwell has disrupted an industry stuck in legacy models, creating the highest fidelity 3D technology to power a better overall real estate experience for both buyers and sellers across a varied array of industry verticals and segments. The company was selected for the prestigious Moderne Ventures' Passport Program, a six-month industry immersion program that catalyzes the growth of its companies by offering its participants education, mentorship, and pilot opportunities with new customers via access and exposure to Moderne's Network of real estate – and real estate adjacent – industry leaders. The program is highly selective with the Moderne Ventures team evaluating over 4,500 companies a year, but selecting on average 6 to 10 companies per class. In February, the company's technology was prominently featured in the Bravo hit "Million Dollar Listings'' and, more recently, it provided the technology behind a prominent Robb Report listing and article. About Christie's International Real Estate Christie's International Real Estate has successfully marketed high-value real estate around the world for more than 30 years. Through its invitation-only Affiliate network spanning nearly 50 countries and territories, Christie's International Real Estate offers incomparable services to a global clientele at the luxury end of the residential property market. About Modwell Modwell is a design tech company whose first-of-its-kind collaborative platform and tools empower agents and buyers to modernize their real estate experience. While other industries have evolved to match our 21st century lifestyles and preferences, real estate has stayed relatively the same. Modwell was founded in 2020 by architecture and marketing veterans who not only set out to close that gap but who have a clear vision for where real estate is going as the world embraces virtual realities.

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