Investments

Arden Group Acquires Younique Headquarters Building in Salt Lake City

Arden Group | February 02, 2022

Arden_Group_Acquires
Arden Group (Arden), in partnership with Vesta Realty Partners, LLC (Vesta), announced it has acquired the Younique headquarters building, a 125,000-square-foot, five story, trophy quality office building located at 3400 West Mayflower Ave, in Lehi, Utah. The property, strategically located in the vibrant Silicon Slopes market of Salt Lake City, is 100% leased to Younique, a health and wellness direct sales firm, through 2026.

This transaction represents the fourth Salt Lake City office transaction for Arden and Vesta over the last year as well as the fifth office property acquisition in Silicon Slopes, Utah's high-demand tech corridor. Previous trophy office acquisitions for the firm include the purchase of the Divvy and Dealertrack two-building portfolio in Draper, UT as well as the purchase of the Solutionreach office building and the Entrata headquarters, both in Lehi, UT.

The asset was first developed in 2016 by Stack Real Estate, one of Utah's most prominent real estate developers, and was built as a fully amenitized corporate campus and showcase property for Younique. The well-located development sits on a 7.19-acre site and is one of the most visible buildings on the popular I-15 interchange. The property is nearby the FrontRunner high-speed train which offers 90-mile coverage from Ogden to Provo and is walkable to an abundance of dining.

Arden continues to demonstrate its belief in Salt Lake City and the Silicon Slopes technology corridor through our numerous trophy office acquisitions, With its best-in-class design, top amenities, and high visibility, the fully leased Younique corporate headquarters is a perfect addition to our growing regional portfolio, and we're pleased to announce this latest purchase."

Craig A. Spencer, Chairman and CEO of Arden Group.

Investor and tenant demand in Utah's Silicon Slopes have remained resilient over the past 24 months, We are continuing to experience new capital sources seeking exposure to the market while local and out-of-state tenant demand is ramping up to pre-COVID levels."

Jeff Grasso, Founder and Managing Partner of Vesta Realty Partners.

The Younique headquarters building features a best-in-class design with high-end two-story lobbies as well as floor-to-ceiling glass throughout. Built to LEED Silver standards, the building includes open floor plans with an average floor plate size of 25,000 square feet.

The property includes an abundance of Class-A amenities, including a full-size commercial kitchen, cafeteria and lounge, outdoor seating, an auditorium, five balconies with seating, a full-service salon and an R&D Lab.

About Arden Group
Arden Group is a vertically integrated real estate investment management firm focused on equity and debt investments in the top 25 US MSA's. Founded in 1989, Arden has acquired over $6.4 billion of properties and asset managed in excess of $11.8 billion of commercial real estate assets since inception. In 2012, Arden Group established Arden Fund Management, its real estate equity and debt fund management business with offices in Philadelphia, New York, Tampa, Miami, Minneapolis, and Newport Beach. Arden Group has been consistently ranked globally as a top performing Private Fund Manager by both Cambridge Associates and Preqin including Preqin's #1 global ranking in 2017, 2018 and 2019.

About Vesta Realty Partners
Vesta Realty Partners is an institutional sponsor focused on real estate investing outperformance through a macro driven value-oriented approach coupled with hands on business plan execution. The firm focuses on undervalued office, life science, industrial, residential, and opportunity zone investing with offices in New York City and Salt Lake City. The firm was founded in 2020 by Jeff Grasso and currently manages a portfolio of more than $750 million of real estate assets and developments.

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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, Real Estate Investment

BSI Financial Extends Sagent Software Partnership 7 Years to Speed Growth to 1 Million Loans

Businesswire | July 13, 2023

Sagent, a Warburg Pincus-backed fintech software company modernizing mortgage servicing for banks and lenders, today announced a seven-year partnership extension with BSI Financial Services to continue powering its enterprise mortgage servicing ecosystem. As BSI Financial rapidly grows its servicing portfolio to a goal of 1 million loans, they’ll continue to leverage the industry’s only enterprise and default servicing platforms synced by real-time data. “Renewing our Sagent partnership is a key part of our goal to grow to 1 million loans with operational precision and cost control,” said BSI Financial founder and CEO Gagan Sharma. “We’re firmly committed to promoting sustainable homeownership for every borrower, and Sagent enables us to provide proactive, informed customer service to borrowers throughout their homeownership lifecycles.” BSI Financial will continue to power scale servicing operations with Sagent’s configurable, cloud-based platforms, including LoanServ (system of record), TEMPO (default management), Datascape+ (cloud-based data reporting and insights), and LoanBoard (originations-to-servicing onboarding). “BSI Financial has earned its reputation as a leader in clean, day-one-compliant onboarding and an AI-led approach that ensures data integrity and compliance in their own $50B portfolio and in their clients’ portfolios, and Sagent is honored to continue powering this industry-best experience,” said Dan Sogorka, CEO and President of Sagent. “BSI and Sagent have worked together to automate complex high-volume tasks for BSI, solve customer issues fast, and adapt in real-time to regulator and investor needs. Collaborative partnerships like this guide Sagent’s roadmap for the future of servicing and help us to set the mortgage fintech pace with our cloud-native, open-API servicing platforms.” With over $2T in outstanding mortgage balances on its platforms, Sagent and its customers collaborate on open-API models that ensure servicing operations are aligned with cost control, optionality, and real-time policymaking. Sagent has the industry’s only enterprise, default, and consumer mortgage servicing platforms synced by real-time data. This is the latest in a series of Sagent moves to transform the homeowner experience for financial orgs servicing millions of consumers with trillions in mortgage balances. About Sagent Sagent powers America’s top bank and nonbank lenders to engage, care for, retain, and modernize the homeownership experience for millions of borrowers. Servicers use our flexible, scalable, and configurable solutions to engage borrowers and earn customer loyalty, lower servicing costs, ensure compliance, and increase the value of servicing rights throughout full market cycles. Sagent is backed by Warburg Pincus, one of the world’s leading private equity investors, and powers trillions in outstanding mortgage servicing for its customers. Visit sagent.com to learn more. About BSI Financial BSI Financial Services is leading the evolution of mortgage servicing for originators, investors and homeowners. The company brings together a talented team with long mortgage industry expertise, scalable digital capabilities and deep regulatory understanding. BSI Financial is one of the fastest growing mortgage servicers across the industry and currently services more than $50 billion in mortgages. The company is approved as a servicer by Fannie Mae, Freddie Mac, FHA and VA, approved as an issuer by Ginnie Mae, and rated by S&P and Fitch as a servicer. For more information, visit bsifinancial.com

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Real Estate Technology, Mortgage and Lending

PortX Announces Partnership with MeridianLink to Enhance Digital Lending for Financial Institutions

Businesswire | July 03, 2023

PortX, the financial infrastructure and integration technology company that delivers open access to data and rapid innovation for financial institutions (FIs) through its Integration-Platform-as-a-Service (IPaaS), announced a new partnership with MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies. PortX has added the integration with the MeridianLink® One platform in order to increase value for customers looking to transform their digital lending. MeridianLink's cloud-based solutions enable customers to build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle. Its scalable platforms help customers accelerate revenue growth, reduce risk, and exceed consumer expectations through seamless digital experiences. MeridianLink's partner marketplace supports hundreds of integrations for tailored innovation. The partnership between PortX and MeridianLink® is expected to benefit FIs in multiple ways. PortX's platform will enable FIs to integrate MeridianLink's digital lending and account opening solutions into their existing systems quickly and seamlessly. This integration will provide PortX customers with simplified access to MeridianLink's sophisticated digital lending and account opening capabilities as well as data verification solutions for consumer reporting agencies. These capabilities can help FIs improve their lending processes and provide consumers with a seamless and engaging customer experience. “We are excited to partner with PortX and leverage their platform to bring our digital lending solutions to more FIs," said Megan Pulliam, SVP of MeridianLink’s Partner Marketplace. "By combining our advanced lending capabilities with PortX's integration technology, we can provide FIs with a powerful suite of tools that unleash rapid project creation, accelerate speed-to-market, and ultimately drive digital transformation.” “FIs need to stay ahead of the competition by integrating faster with innovative lending solutions," said David Wexler, CEO of PortX. "This partnership will bring MeridianLink's scalable and cloud-based platforms to more FIs, allowing them to deliver personalized lending experiences and build deeper relationships with their customers.” ABOUT PORTX PortX is an integration technology company focused on financial services infrastructure that delivers open access to core data and enables rapid project delivery, innovation, and optimal customer experiences. Our solutions facilitate interoperability between internal systems and member services such as online banking, credit checks, mortgage and loan applications, and more, allowing for a real-time 360-degree view of the customer. We help financial institutions empower their teams to connect to fintech partners and real-time payment networks like Zelle®, ACH, Fedwire, Mojaloop, and others. For more information, please visit www.portx.io. ABOUT MERIDIANLINK MeridianLink® (NYSE: MLNK) powers digital lending and account opening for financial institutions and provides data verification solutions for consumer reporting agencies. MeridianLink's scalable, cloud-based platforms help customers build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle. MeridianLink enables customers to accelerate revenue growth, reduce risk, and exceed consumer expectations through seamless digital experiences. Its partner marketplace supports hundreds of integrations for tailored innovation. For more than 20 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities. For more information, please visit www.meridianlink.com.

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Real Estate Technology, Real Estate Investment

SouthPoint Financial Services Creates New Real Estate Division Powered By Newzip

PRnewswire | July 27, 2023

SouthPoint Financial Services (SPFS), a full-service mortgage lender operating in 16 states, today announced a partnership with Newzip, a tech-enabled real estate solutions platform. Newzip brings seamless, RESPA-compliant real estate services to SPFS, matching pre-approved borrowers with experienced agents to find homes then providing cash rewards when SPFS borrowers close on home purchases. Here's how the new SPFS Preferred Partners Program powered by Newzip works: SPFS customers can now receive real estate advice tailored to their needs from a dedicated Newzip Home Advisor team that helps them throughout their entire home search, offer-writing, transaction, closing, and moving process. Once SPFS pre-approves a customer for a home purchase loan, Newzip's advanced algorithms and data analytics match home buyers with the most suitable real estate agents across their national network of trusted professionals. When SPFS mortgage customers opt into this program, they can save 1% on the sell side and 0.5% on the buy side as a closing credit decreasing their required cash-to-close in rebate eligible states. Throughout the home buying and financing process, the Newzip platform keeps SPFS loan officers, borrowers, Newzip home advisors, and real estate agents seamlessly connected. "Adding Newzip real estate services and technology to SouthPoint Financial's fast, friendly mortgage team creates a one-stop shop for our home-buying customers," said SouthPoint Financial Services CEO Mindy Rothenberger. "This partnership helps us double down on our mission to remove all barriers of home ownership and solve all the mysteries of home lending and buying. It adds personalized guidance at every step, giving our customers a confident, informed home buying journey from start to finish." The SPFS/Newzip partnership is a shared commitment to innovation and customer-centric solutions, delivering a seamless, efficient, cost-saving journey to homebuyers across America. "Integrating Newzip's platform into SPFS's mortgage experience will not only elevate the home buying/selling experience, but also makes it more affordable for borrowers in this challenging market," said Newzip CEO Adi Pavlovic. "We're thrilled to power real estate services for SPFS and innovate together in the mortgage industry." About Newzip Newzip is a real estate platform that empowers mortgage lenders to deliver an end-to-end customer experience. Leveraging a combination of technology and human empathy, Newzip's vision is to create the standard for a modern real estate experience that helps people make informed decisions throughout their entire journey. About SouthPoint Financial Services SouthPoint Financial Services (SPFS) is a full-service, Georgia-based mortgage lender offering government-backed and conventional loans. SPFS is one of the few mortgage lenders that handle every step of the process with in-house processing, underwriting, and document preparation. SPFS's mission is to remove all barriers to homeownership, answer all the questions, and solve all the mysteries of home lending.

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