Altus Group Releases 2016 Construction Cost Guide

Altus Group | January 27, 2016

Altus Group Limited (ʺAltus Groupʺ or “the Company”) (TSX: AIF), a leading provider of commercial real estate services, software and data solutions, today released its annual Construction Cost Guide (the “Guide”), the foremost publication for the construction and development industry which assesses costs across all major Canadian markets.In-line with past years' publications and a robust supply of market data collected and categorized by Altus Group, the 2016 Guide provides broader coverage and deeper market analysis by.

Spotlight

Changes to the Contract to Buy and Sell Real Estate and other Commission forms for 2016 furthered the Commission’s direction to provide more clarity, simplification and to address the comments, suggestions and recommendations submitted by attorneys, brokers,
Division of Real Estate staff and various associations.


Other News
REAL ESTATE INVESTMENT

MYSA Estate Property Management Selects Yardi Cloud Platform

MYSA and Yardi | August 16, 2022

MYSA, a subsidiary of Pearl Investment LLC, has chosen the Yardi® platform to enhance its end-to-end real estate operations from prospect nurturing to financial management. The company will utilise solutions from Yardi's Residential Suite; including Voyager for property management and accounting and RentCafe CRM which will digitise their entire leasing journey from lead to lease. Tenant services will be enhanced via a resident self-serve portal for payments and maintenance requests and a landlord dashboard will provide instant insight in relation to the business's most important KPI's. "Yardi's all-in-one solution will enable us to oversee the management of our portfolio through a single platform, By implementing the cloud-based technology, we will be able to streamline the end-to-end process, access better insights and provide an enhanced service to our tenants." -Sajjad Kalam, managing director for MYSA Estate Property Management Yardi technology will help digitise operations, simplify processes, automate complexities and help future growth, We're excited to work with MYSA and are delighted that Yardi continues to further help companies with their real estate digitisation strategies across the Middle East,said Neal Gemassmer, vice president of international for Yardi. About MYSA Estate Property Management LLC MYSA, a subsidiary of Pearl Investment LLC, develops property management solutions for residential, commercial, hospitality and mall management. The company is passionate about creating the right space for its clients, building bespoke worlds. MYSA is the property management division of Flora Hospitality. For more information, please visit mysaestate.com. About Yardi Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. With 8,000 employees, Yardi is working with clients globally to drive significant innovation in the real estate industry.

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REAL ESTATE INVESTMENT

Capital Square Launches Private Equity Group to Focus on Build-for-Rent and Other Non-Traditional Real Estate Investments

Capital Square | September 20, 2022

Capital Square, one of the nation's leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced today the launch of its Private Equity Group, a new corporate division that will focus on single-family build-for-rent homes and other non-traditional real estate investment opportunities. Industry veterans, Jon Trott and Dave Platter, have joined Capital Square as managing directors to lead the new division. "Build-for-rent homes are an increasingly popular choice among renters in the Southeast through Texas, where Capital Square actively invests in multifamily housing, Exceptionally strong demand has made build-for-rent a compelling investment strategy in response to a shortage of quality housing. With in-house development, capital markets, asset management and acquisitions, the build-for-rent space is a natural evolution for Capital Square and is another way to provide innovative and compelling options to a growing number of investors and financial advisors nationwide." -Whitson Huffman, co-chief executive officer of Capital Square Build-for-rent homes, comprised of communities of single-family homes built for renting, have become an increasingly popular investment option among institutions and individual investors. Demand for this rental option is growing exponentially among residents who seek a single-family lifestyle, the financial and leasing flexibility of a rental with the amenities and convenience of a professionally managed property. The U.S. has chronically underbuilt housing since the Great Financial Crisis and needs an additional 4.3 million housing units by 2035 to meet the demand for rental housing, according to the National Multifamily Housing Council. Demand for build-for-rent homes continues to increase with professionally managed communities offering one of the best solutions for the shortage of quality, affordable housing. Institutional ownership and build-for-rent's share of overall U.S. housing stock remains less than 5%, paving the way for long-term, sustained growth for the asset class. We are thrilled to have Jon Trott and Dave Platter launch the Private Equity Group at Capital Square and focus on build-for-rent homes and non-traditional real estate investments, Build-for-rent is the hottest segment of multifamily investing and plays into the demographic trend where younger residents along with aging baby boomers want to live in a single-family home with the freedom and flexibility of a rental. We believe build-for-rent housing will become one of the most popular strategies in Capital Square's growing investment portfolio,said Louis Rogers, founder and co-chief executive officer. Prior to joining Capital Square, Trott and Platter led the private equity team of The Amherst Group's build-for-rent division, where they were responsible for capital raising, acquisition sourcing and overall management of the division. Amherst is one of the nation's largest investors and operators of single-family rental homes, with $16 billion in assets under management in over 30 markets. Previously, Trott was an investment professional with Spear Street Capital, a San Francisco-based real estate private equity firm. He began his career with JPMorgan Chase & Co., one of the globe's leading financial services firms, where he reported to the chief executive officer of asset management and was involved in the execution of key mergers and acquisitions transactions, as well as strategic initiatives. He earned a bachelor's degree from Tufts University and a Master of Business Administration from Harvard Business School. Prior to his tenure with The Amherst Group, Platter was the co-founder of Southern Creek Capital, a boutique investment manager in the single-family rental and multifamily spaces. He previously worked at the JBG Companies (now JBG SMITH Properties; NYSE: JBGS), where he was responsible for the development of more than $500 million of multifamily and mixed-use properties. His career began in the asset management division of JPMorgan Chase & Co. Platter received a bachelor's degree from The University of Virginia and a Master of Business Administration from Duke University's Fuqua School of Business. About Capital Square Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges, qualified opportunity zone funds for tax deferral and exclusion and a real estate investment trust (REIT). In recent years the company has become an active developer of mixed-use multifamily properties in the southeastern US, with eight current projects totaling approximately 2,000 apartment units with a total development cost in excess of $600 million. Since 2012, Capital Square has completed more than $6 billion in transaction volume. Capital Square's related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high-net-worth investors, private equity firms, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for six consecutive years. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense's list of fastest growing companies. Additionally, Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" report in 2019 and their "Fantastic 50" reports in 2019 and 2020.

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REAL ESTATE TECHNOLOGY

American Real Estate Partners Commits Capital to Its 6th Deal in Recently Announced Strategic Opportunity Fund III

AREP | July 29, 2022

American Real Estate Partners (“AREP”), and its Joint Venture partner Machine Investment Group (MIG) today announced the company’s latest investment in the logistics & distribution market, a 1,015,740 square foot industrial property located in Middletown, Delaware. This is AREP’s sixth investment through its Strategic Opportunity Fund III (“Fund III”) and is now 60 % deployed. The New Castle County industrial submarket has experienced meaningful growth, with the newly developed Route 301 Bypass transforming the ease of access to Middletown from Interstate 95. The current lack of easily accessible properties in Southern Jersey, Northern Delaware, and Eastern Pennsylvania has pushed tenants to seek strong alternate locations, the Middletown area is a premier example of this. “At AREP, we have sought to invest in those markets where we see growth of both tenancy and rents, We were drawn to this asset in a growing market as demand from Logistics & Distribution companies along 3PL providers continue to lead market absorption.” Doug Fleit, Co-Founder & CEO of AREP “Just weeks after announcing the closing of our third investment fund, this acquisition exemplifies AREP’s strategic and meaningful investments in the logistics market,” said Brian Katz, Co-Founder & President of AREP. “Our team has a proven track record of credibility and expertise in opportunistic investments, and we are proud to continue the diversification of our four asset pillars: industrial, data center, multi-family and office. We remain optimistic about Fund III and will continue to put its capital to work in a judicious manner.” In June, AREP announced the closing of Fund III with $63 million in equity commitments expanding on the diverse mix of public and private institutional investors and family offices. Fund III will continue AREP’s focus on a value-add and opportunistic strategy, concentrating on data center, residential, industrial, and office assets in East Coast urban and urbanized suburban markets. Fund III’s co-investment capital is targeted to invest in $1.5 B to $2.0 B of total asset value, utilizing moderate financial leverage. ABOUT AMERICAN REAL ESTATE PARTNERS Headquartered in the Greater Washington metropolitan area, AREP is an institutional fund manager and operating partner focused on data center, residential, industrial, and office assets, on both a development and repositioning basis in various markets along the East Coast. Since the company’s founding in 2003, AREP has deployed over $5.1B across targeted geographies, acquired more than 20 million SF of Class A real estate, and currently oversees over 10 million SF. AREP's vertically integrated real estate platform and experienced Management Team provide exceptional expertise in all ownership disciplines from acquisition to realization. By leveraging this expertise, AREP remains at the forefront of real estate innovation, maximizing investment and enhancing performance to provide added value for its investors.

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BROKERAGE,MORTGAGE AND LENDING

Real Estate Tech Brokerage Radius Launches In-House Mortgage Brokerage in California

Radius | August 04, 2022

Radius, the tech-enabled brokerage, today announced it has launched a mortgage brokerage in California. The mortgage launch comes on the heels of the company's $14 million Series A fundraise and recent expansion to Texas, Florida and Washington. Radius is a full service, modern brokerage that provides real estate professionals and their teams with the support and tools needed to grow their business — with a simplified and modest flat fee commission structure. The brokerage empowers entrepreneurial real estate professionals with integrated technology, mentorship, recruiting, financial services and marketing resources to build and amplify their own brand. With the addition of a mortgage brokerage, Radius agents and their clients in California will have access to a more seamless and transparent lending experience. With access to real-time status updates and critical documents in their client dashboards, Radius agents will be able to provide quality information about the lending process to their clients — while being supported by a dedicated team. Radius' mortgage arm will be led by Director of Mortgage Michael Bardales, a 20-year veteran of California lending and Senior Lending Manager Grace Davis, a 17-year real estate veteran and top lending officer in the state. "We're building Radius Mortgage from the ground up to be a premier lender in California, For far too long, the lending process has been frustrating and burdensome for agents and their clients alike. By keeping cost structures low and bringing transparency to the entire lending process, we hope to help real estate professionals deliver a better client experience and grow their businesses." - Sam Kasle, Radius' Chief Revenue Officer Dedicated to developing the whole agent, Radius helped real estate professionals and their teams close more than $400 million in sales in the first quarter of 2022, while the referral network has generated $25 billion in referral commissions in the last three years. The company has doubled revenue in the last five months, and seen 300 percent revenue growth year-over-year. Radius now operates in California, Colorado, Georgia, Oregon, Texas, Florida, and Washington. Building on its real estate social network of more than 85,000 agents nationwide, Radius plans to further expand across the U.S. by the end of the year. About Radius Radius is the premier tech-driven brokerage firm for real estate professionals eager to grow their brands and profits. From networking opportunities, branding/marketing resources, to white-glove services for buyers and sellers, Radius is poised to help real estate professionals grow their businesses while saving them time and money. Founded in 2015, Radius is backed by the founders of Trulia, Zillow and Roofstock.

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Spotlight

Changes to the Contract to Buy and Sell Real Estate and other Commission forms for 2016 furthered the Commission’s direction to provide more clarity, simplification and to address the comments, suggestions and recommendations submitted by attorneys, brokers,
Division of Real Estate staff and various associations.

Resources