REAL ESTATE INVESTMENT
Shopoff Realty Investments | April 28, 2022
Shopoff Realty Investments, a national manager of opportunistic and value-add real estate investments, announced the company has sold Iron Horse Shopping Center, a 185,890-square-foot neighborhood center, located in Sparks, Nevada for $18 million.
When Shopoff purchased Iron Horse Shopping Center, the property was in very poor condition having been foreclosed on by the lender and under the management of a receiver for several years. Through our team's efforts, the property made a major transformation, with the addition of many new tenants, the reworking of leases with existing tenants, extensive improvements, and the addition of a new retail pad. The asset is now a positive resource for the surrounding community, rather than a blight."
William Shopoff, Shopoff Realty Investments president and chief executive officer
When Shopoff purchased the property, it was a distressed, lender-owned asset and only 33% occupied, with a former Target store space representing over 100,000-square-feet of vacant space. Shopoff was able to make significant capital improvements to the center, including new paint and column architectural features, enhanced signage, landscaping, repairing and replacing of the asphalt in the parking lots. Additionally, a new 7,151-square-foot pad was also constructed on the property. Ultimately, the Shopoff team was able to increase the occupancy of the center to 75%, signing several key long-term leases.
In addition to the main center, there are two retail pads on the property that are being sold separately. One of the pads is 3,008-square-feet, and currently houses a Jack-in-the-Box fast food restaurant, and the other is the aforementioned 7,151-square-foot pad constructed by Shopoff, which has several tenants including Starbucks, Super Chix, Roberto's and Freeway Insurance.
About Shopoff Realty Investments
Shopoff Realty Investments is an Irvine, California-based real estate firm with a 30-year history of value-add and opportunistic investing across the United States. The company primarily focuses on proactively generating appreciation through the repositioning of commercial income-producing properties and the entitlement of land assets. The 30-year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group). Performance has varied in this time frame, with certain offerings generating losses.
REAL ESTATE INVESTMENT
Atlas Group LTD | June 17, 2022
Atlas Cottage Homes, a division of Atlas Group LTD, announced its plans to provide alternative affordable housing. Built to Florida code for single family homes in its manufacturing plants in Orlando, Atlas Cottages Homes range from 588 SF to 1074 sq. ft. and qualify for a 30-year mortgage.
The need for affordable family housing for Florida's workforce is critical. We are equipped to create 5000 homes in the next five years in our existing facilities, and are excited to partner with local municipalities, businesses, and investors to help make homeownership more attainable and preserve paradise in the Sunshine State."
Lincoln Hine, Founder of Atlas Group LTD and CEO of Atlas Cottage Homes
"We are meeting with key officials across the state and are grateful for the Florida House Bill 1339 which allows municipal governments to approve affordable developments like Atlas Cottage Homes on any parcel zoned for residential, commercial or industrial use," said Hine.
Atlas Cottage Homes floor plans include a one bedroom/one bathroom and two to three bedrooms/two bathrooms. The homes feature insulated walls (R-14) ceiling (R-20) and flooring (R-13); sculpted shingles or metal roof and fiber cement siding. A traditional 30-year mortgage for these affordable homes would be $700-$1600 a month, based on 20 percent down payment and current interest rates. Home buyers will pay less should they qualify for other mortgage loans (i.e., FHA, VA, Good Neighbor Next Door Loans, Florida's Hometown Heroes program). And unlike other small home concepts, Atlas Cottage Homes are foundation-based and as such, are an appreciating asset.
The Value Collection features one- and two-bedroom designs with full kitchen cabinetry, bathroom with stand up shower, toilet and sink, and built-in cabinets and storage. Other amenities include ductless air conditioning, tankless water heater, garbage disposal and vinyl flooring.
The Premier Collection features two single and one two-story home designs. These homes include one to three bedrooms, with open living spaces, smart technology, and marble kitchen countertops. Options include solar power, decks and patios, carports and garages.
Atlas Cottage Homes is in development of three planned communities with more than 400 homes sites in Florida. The developments will be placed on either deeded lots or on land lease lots. These communities may include shared amenities such as a swimming pool, a playground, and a community center.
About Atlas Community Homes
Atlas Community Homes are affordable foundation-based single-family homes that qualify for a 30-year mortgage. These homes, ranging from 588 to 1074 sq. ft., are built to Florida code standards in its facilities in Orlando, FL. The Value Collection is one- and two-bedroom designs and the Premier Collection is one to three bedrooms designs, including a two-story home.
About Atlas Group
Founded by Lincoln Hine, Atlas Group LTD is an investment-focused and impact-driven company based in Palm Beach, FL. The company's holdings include real estate, finance, construction, manufacturing, hospitality and recruiting.
The Real Brokerage Inc. | June 18, 2022
The Real Brokerage Inc., an international, technology-powered real estate brokerage, announced that it has surpassed 5,000 agents. The company has grown from 2,450 agents to 5,000 agents in the past 12 months, an increase of 104%.
Over the past year, Real was listed on the NASDAQ Stock Exchange, launched a new platform for its technology, and broadened its brokerage operations to 44 states and the District of Columbia, with an addition of 13 states including Indiana, North Dakota, Minnesota, Montana, Iowa, Michigan, Idaho, Kentucky, Wyoming, New Mexico, Arkansas, Maine and Mississippi. The Company also added an international dimension, commencing operations in Canada, including Alberta and Ontario. The Company is focused on building a new model of national real estate brokerage that breaks away from franchise fees and brick-and-mortar offices and provides agents with an attractive financial incentive structure, innovative technology tools and an enterprising, ambitious culture.
We've seen monumental success over the past year, and I believe a large part of that can be attributed to our agent attraction momentum and comprehensive tech solutions. Real attracts agents who are driven to succeed and who want to work with others who are equally as passionate. We build the technology and collaborative culture, and they continue to champion our growing community."
Tamir Poleg, Real Chairman and CEO
Real is a technology-powered real estate brokerage operating in 44 U.S. states, the District of Columbia, and Ontario and Alberta, Canada. Real is building the future, together with more than 5,000 agents and their clients. Real creates financial opportunities for agents through better commission splits, best-in-class technology, revenue sharing and equity incentives.
REAL ESTATE ADVICE
Anywhere Real Estate Inc. | June 16, 2022
Anywhere Real Estate Inc., a global leader in residential real estate services (formerly known as Realogy Holdings Corp.), announced that its affiliated agents lead the National Association of Hispanic Real Estate Professionals (NAHREP) 2022 Top 250 Latino Agents Report, which recognizes the top producing Latino agents across the United States, including Puerto Rico. With 50 independent agents included – more than any other company – Anywhere-affiliated agents comprise 20 percent of the list. All six leading residential real estate brands in the Anywhere portfolio, including Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Corcoran, ERA®, and Sotheby's International Realty®, are represented in the report's rankings.
According to NAHREP's 2021 State of Hispanic Homeownership Report, the Latino homeownership rate continued to increase in 2021 for the seventh consecutive year. While the report also notes that a dearth of housing supply and rising price points remain a significant barrier to many homebuyers, the Urban Institute predicts that Latinos will account for 70 percent of homeownership growth over the next 20 years.
We are incredibly proud that the Anywhere family of brands is home to so many of the top-producing agents that represent the nation's expanding community of Latino homebuyers. As Hispanic household formation continues to drive significant homeownership growth in the coming years, we remain committed to creating professional opportunities for diverse and representative professionals that can help to empower everyone's next move."
Ivonne Furneaux, vice president of diversity, equity, and inclusion for Anywhere
As the one of the largest full service residential real estate services companies in the U.S., Anywhere is dedicated to creating a culture of diversity, equity, and inclusion, and is a vocal advocate for equal opportunity and fair housing. The Company's renowned brands also offer a number of initiatives focused on driving diversity, such as CENTURY 21's Empowering Latinas program, which helps Latina entrepreneurs obtain their real estate license and prepares them for success in the real estate industry through a network of support. Read more about Anywhere and its commitment to diversity, equity and inclusion in its 2021 CSR Report.
According to NAHREP, this year's report ranks individual agents and teams based on transactions and sales volume, and represents a total of 39,804 transactions and $13.8 billion in combined sales volume in 2021. Anywhere affiliated agents featured in the top 10 of Top 250 Latino Agents Report include Wilfredo Alfaro, Coldwell Banker Realty in Clifton, NJ and Johnny Rojas, Century 21 JR Gold Team Realty in Garfield, NJ.
Additionally, Anywhere agents on the list represent:
One quarter of the Top 100 agents by sale volume, including Coldwell Banker Real Estate (14), CENTURY 21 (6), Sotheby's International Realty (3), and Corcoran (2).
Almost half of the Top 25 'Rookies', including Coldwell Banker (6), CENTURY 21 (2), Better Homes and Gardens (1), and ERA (1).
46% of the top 100 agents in the Northeast, 43% of the top 100 agents in the Northwest, 38% of the top 100 agents in the Southwest, 27% of top 100 agents in the Southeast, 20% of top 100 agents in the Midwest, and 13% of the top 100 agents in the Mountain region.
As of June 9, 2022, Realogy completed its corporate rebrand to Anywhere. Home to renowned real estate brands as well as national title, settlement, and relocation companies and scaled mortgage origination and underwriting joint ventures, the Anywhere rebrand reflects a strategic shift for the company. Leveraging its leading position in business segments that comprise nearly every aspect of the real estate transaction, the company has placed a strong emphasis on building a more simplified, digitized, and integrated home buying and selling experience for any consumer, anywhere.
Anywhere Real Estate Inc. is on a mission to empower everyone's next move. Home to some of the most recognized brands in real estate – Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Corcoran®, ERA®, and Sotheby's International Realty® – the AnywhereSM portfolio includes franchise and brokerage operations as well as national title, settlement, and relocation companies and nationally scaled mortgage origination and underwriting joint ventures. Supporting approximately 1.5 million home transactions in 2021, Anywhere is focused on simplifying, digitizing, and integrating the real estate transaction for all consumers, no matter where they may be in their home buying and selling journey. With innovative products and technology, Anywhere fuels the productivity of its approximately 196,200 independent sales agents in the U.S. and approximately 136,400 independent sales agents in 118 other countries and territories. Recognized for eleven consecutive years as one of the World's Most Ethical Companies, Anywhere has also been designated a Great Place to Work four years in a row, named one of LinkedIn's 2022 Top Companies in the U.S., and honored by Forbes as one of the World's Best Employers 2021.