REAL ESTATE TECHNOLOGY

BioMed Realty Acquires Premier Site in Seattle Innovation Cluster

BioMed Realty | April 18, 2022

real estate solutions
BioMed Realty, a leading provider of real estate solutions to the life science and technology industries, announced the acquisition of Denny Park South in Seattle, Washington. Located in the highly amenitized and talent-rich South Lake Union/Denny Triangle district, the 1.6-acre property consists of two adjacent parcels in close proximity to industry-leading life science and technology companies and research institutions. The proposed 616,000-square-foot development will provide additional optionality for prospective and existing BioMed tenants as they seek purpose-built buildings to accommodate research.

BioMed continues to be focused on growth and expansion in our established core markets, like Seattle, where market fundamentals remain strong and innovation ecosystems are thriving. We now have the ability to double our footprint in the Seattle market and continue investing in mission-critical lab infrastructure needed to meet strong tenant demand as life science and technology companies grow and scale in the region.”

Tim Schoen, CEO of BioMed Realty

The Denny Park South acquisition will allow BioMed Realty to grow its existing 1.2 million-square-foot portfolio in Seattle which includes the recently completed flagship Dexter Yard project in South Lake Union. This acquisition of Denny Park South, along with the T6 Innovation Center at 200 Taylor Avenue North, represent an additional 1.2 million square feet of development potential. The Company anticipates investing an additional $700 million to develop these new facilities over time and expects to create nearly 850 new local construction jobs.

BioMed’s local network of best-in-class life science and technology properties, along with its development pipeline now represent 2.4 million square feet in the region to provide companies with the flexibility to grow or establish a presence in the Seattle community. The Company’s local tenants include blue chip companies seeking to be connected to the region’s talent, capital and research institutions. Notable tenants include the Seattle Children’s Research Institute, Novo Nordisk, Omeros Corporation, InBios International, Inc., Lyell Immunopharma, Inc., Shape Therapeutics and Tableau.

“The South Lake Union/Denny Triangle cluster where Denny Park South is situated is flush with renowned research institutes like UW School of Medicine, Gates Foundation, Fred Hutch, and the Allen Institute, as well as large tech users such as Amazon, Meta and Apple,” said Jon Bergschneider, President of West Coast markets at BioMed Realty. “As demand from life science and technology companies in this neighborhood remain strong, BioMed is well-positioned to provide much-needed sustainable facilities that enable our tenants to continue their critical, and life-saving, work.”

BioMed Realty will continue to prioritize its local community engagement initiatives, expanding on its ongoing efforts to create a more equitable, inclusive and climate-resilient Seattle, with organizations such as the Downtown Seattle Association, the Seattle Chamber of Commerce, the South Lake Union Chamber of Commerce and the University of Washington.

About BioMed Realty
BioMed Realty, a Blackstone portfolio company, is a leading provider of real estate solutions to the life science and technology industries. BioMed owns and operates high quality life science real estate comprising 14.5 million square feet concentrated in leading innovation markets throughout the United States and the United Kingdom, including Boston/Cambridge, San Francisco, San Diego, Seattle, Boulder and Cambridge, U.K. In addition, BioMed maintains a premier development platform with 3.7 million square feet of Class A properties in active construction in these core innovation markets to meet the growing demand of the life science and technology industries.

Spotlight

Certain matters discussed in this press release, such as anticipated total investment, projected leasing activity, estimated replacement cost and expected net operating income of acquired properties, are forward-looking statements within the meaning of the federal securities laws. These statements are.


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INVESTMENTS

Morgan Stanley, Embrey to Relocate Offices To Embrey's Premier 7600 Broadway Development

Embrey | January 31, 2022

Morgan Stanley and Embrey will relocate their current offices in San Antonio, Texas, to Embrey's premier mixed-use development, 7600 Broadway, bringing the office building to 100 percent occupancy. Morgan Stanley will occupy 28,000 square feet while Embrey will move its corporate headquarters into the remaining 25,000 square feet. Tenant buildout has begun immediately with occupancy expected in the summer of 2022. Embrey has designed a unique living and working experience at 7600 Broadway with the highest quality of design and attention to detail, Embrey is proud to make 7600 Broadway our corporate home and pleased to have a company like Morgan Stanley as our neighbor and tenant." Trey Embrey, President and CEO of Embrey. A professionally equipped fitness studio with showers, co-working study and private conference room, a full-featured lounge for entertainment and recreation, elevated pool deck and outdoor terrace, piano bar, and underground parking, highlight a number of luxury amenities thoughtfully curated specifically to create a premier living and working experience. Property management services will be provided by Stream Realty Partners. JLL's Office Leasing team of Mark Krenger and Meredith Howard represented Embrey. Jeff Miller and John Worthen with JLL's Corporate Advisory Group represented Morgan Stanley. We endeavor to align ourselves with the highest quality projects in the marketplace that attract great tenants. 7600 Broadway is truly representative of this. This amazing space will provide the Embrey and Morgan Stanley teams a place where they can achieve their best ambitions, 7600 Broadway is a signature property for Embrey and JLL is proud to partner with them. The highly amenitized and walkable project, at the corner of Broadway and Nacogdoches, stands as a gateway to the Alamo Heights community and is leading the redefinition and revitalization of the historic boulevard." Mark Krenger, Managing Director and Co-Market Lead, JLL. Residential leasing for the development is expected to begin in 2022 with management provided by Embrey Management Services, nationally recognized for its award-winning approach to service. This project represents the highest calling of our profession in terms of concept, detail, innovation and vision, 7600 improves the streetscape at an iconic intersection that creates a more walkable neighborhood and a first-class experience in the heart of San Antonio." John Kirk, Managing Director and Executive Vice President for Development for Embrey. About Embrey San Antonio-based Embrey Partners LLC is a diversified real estate investment company that owns, develops, builds, acquires, and manages multifamily residential communities and commercial assets in targeted markets across the United States. Since 1974, Embrey has developed nearly 43,000 apartments and more than 6 million square feet of commercial property. Embrey is a leading developer in the multifamily sector with more than 4,000 units under construction.

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REAL ESTATE TECHNOLOGY

Green Courte Partners Hires Managing Director of Development

Green Courte Partners, LLC | March 10, 2022

Green Courte Partners, LLC, a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced that it has hired C.R. Russell as Managing Director of Development. In this role, Mr. Russell will oversee all development and construction activities for Green Courte's investments in Windward Communities, True Connection Communities, and The Parking Spot, Green Courte's land-lease community, senior housing, and near-airport parking companies, respectively. Mr. Russell is replacing John Lyons, who retired in February after being with Green Courte and The Parking Spot since 2010. Prior to joining Green Courte, Mr. Russell was a Senior Vice President of Development and Construction at A.J. Capital Partners, a vertically integrated developer with $3.6 billion in real estate investments across 45 markets. In that role, Mr. Russell oversaw the planning and development efforts of $1.2 billion of high-profile hospitality and mixed-use developments comprising nearly 2.6 million square feet of space. Earlier in his career, Mr. Russell held several management roles at Vail Resorts Development Company on behalf of Vail Resorts, Inc., the largest owner and operator of mountain resort properties. At Vail, Mr. Russell was responsible for the company's mountain development team as well as expansion efforts across its entire portfolio of properties. Mr. Russell holds a Bachelor of Arts in Environmental Policy from Rollins College and a Master of Business Administration from Northwestern University's J.L. Kellogg Graduate School of Management. We are thrilled to welcome C.R. to our team, and we look forward to leveraging his diverse skillset and expertise to further expand and improve Green Courte's development efforts across our three active platforms." David B. Lentz, Green Courte's Chief Executive Officer About Green Courte Partners, LLC Green Courte Partners, LLC is a Chicago-based private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, including active adult/independent senior living properties, land-lease communities, and near-airport parking facilities. The firm combines focused investment strategies with a disciplined approach to transaction execution, operations, and asset management. Green Courte's goal is to invest in high-quality real estate assets that will generate attractive risk-adjusted returns over a long-term holding period.

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REAL ESTATE TECHNOLOGY

United Real Estate Launches Specialty Properties Group, an AI-Powered Suite of Websites

United Real Estate | June 08, 2022

United® Real Estate has announced the launch of its Specialty Properties Group (SPG) websites. Lifestyle.UnitedRealEstate.com is a collection of websites featuring AI and machine learning designed to enhance proprietary SEO algorithms for United's lead acquisition program. The technology-first strategy is converting more buyer and seller leads while significantly reducing the company's acquisition and transaction costs. Together, the SPG collection is producing organic website traffic and business leads for United's Agent-centered inbound lead program, powered by 2.1+ million listings. The collection includes: Golf properties Gated communities Waterfront properties Condominium property types The specialty websites are streamlining the customer experience and substantially lowering the cost of lead acquisition for United's brokers and agents. United's proprietary Bullseye™ Cloud-Based Productivity Platform is fully integrated with the SPG website collection. The platform connects interested buyers and sellers to United's customer care team and national agent and broker network. The system is deploying market-ready buyers and sellers to United's tech-enabled agent base – at a substantially lower cost than traditional lead acquisition programs. As a result, United is driving more profitability for agents and brokers. The real estate internet space is filled with systems that get between agents and their customers. Our proprietary system connects agents with their past, present and future real estate clients and is designed to substantially lower costs to brokers and agents, improve effectiveness and deliver tremendous business opportunities to our broker and agent network across the country." Rick Haase, President of United Real Estate "Our proprietary technology platform, Bullseye, continues to evolve rapidly. These new organic websites are another piece of our end-to-end strategy of lead acquisition for our agents. By leveraging our cloud architecture and our exclusive listing warehouse, we are able to deploy our unique organic SEO strategies rapidly. Our lead program is now delivering more opportunities for earnings to our agents nationwide – at a fraction of the cost of traditional lead acquisition programs. We continue to invest heavily in our technology platform to enhance our value proposition for our agents," says David Dickey, Chief Technology Officer of United Real Estate Group. United's tech-enabled business services model is gaining attention inside and outside the real estate industry. In 2021, D.A. Davidson named United a top 100 U.S. private technology company. The Herd highlights a diverse group of businesses across cloud, collaboration, fintech, human capital management, infrastructure, sales and marketing, security and vertical software. In 2022, Housing Wire recognized United Real Estate as one of the Top 100 technology companies in 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 31 states with 110 offices and more than 16,500 agents. The company produced over $21.5 billion in sales volume in 2021. About United Real Estate Group United Real Estate Group (UREG) operates United Real Estate and United Country Real Estate, addressing the unique market needs of suburban, major metropolitan urban and rural markets. Utilizing the cloud-based Bullseye™ Agent & Broker Productivity Platform, UREG offers the latest training, marketing and technology tools producing a significant competitive advantage. The platform realizes a decade-long investment in virtual agent and brokerage technology services and is powered by a 2.1 million listings data warehouse generating over 3 million monthly visitors and 30,000 leads per year. Together, the United Real Estate Group supports more than 600 offices and 20,000 real estate and auction professionals across four continents. United Real Estate Group produced over $27.1 billion in 2021. Through its in-house advertising agency, UREG offers differentiating marketing support and collateral for specialized lifestyle property websites as well as access to a 650,000+ opt-in buyer database.

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REAL ESTATE INVESTMENT

Atlas Cottage Homes Announces an Alternative Solution to Florida's Affordable Housing Crisis

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.

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Spotlight

Certain matters discussed in this press release, such as anticipated total investment, projected leasing activity, estimated replacement cost and expected net operating income of acquired properties, are forward-looking statements within the meaning of the federal securities laws. These statements are.

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