Chinese Investment in UAE Real Estate Down 15 Percent in Q3

Juwai | October 22, 2019

Chinese property portal Juwai .com is reporting Chinese property investment in the UAE has slowed in the third quarter of 2019. Juwai Executive Chairman Georg Chmiel commented, "The growth rate tapered off in the third quarter and was down 15% compared to Q3 2018, but enquiry levels remain healthy. "Chinese buyers like the UAE and its long-term investment story, even if the current market is anemic. The UAE builds abundant supplies of relatively affordable luxury homes that appeal to the tastes of mainland Chinese buyers. Purchasing in the UAE is easy due to the simplified paperwork and available financing. The development industry is making a bigger effort to market their property to Chinese buyers by participating in marketing events in China and Hong Kong, building ties with local partners in China, and marketing online in Chinese.

Spotlight

Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice becomes obvious.


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INVESTMENTS

Lument Provides $26.7 Million Bridge Loan for the Acquisition and Renovation of Florida Multifamily Community

Lument | January 27, 2022

Lument recently announced the closing of a $26.7 million proprietary bridge loan to acquire and renovate Harbor Village Apartments and Townhomes, a 229-unit multifamily apartment community in Melbourne, Florida. Josh Messier, managing director at Lument, led the transaction. It was a pleasure to work with these experienced, repeat Lument clients, We were able to structure and fund 100% of the required capital expenditures with loan proceeds to help them achieve their goals, including $3.8 million in capital improvements to upgrade unit interiors and amenities." Messier. The $26.7 million bridge loan features a variable interest rate and a three-year term, with two 12-month extension options. The community's current occupancy is 96%. The Harbor Village property is made up of two sections: Harbor Village Apartments and Harbor Village Townhomes. Harbor Village Apartments was completed in 1976 and is situated on 6.43 acres of land with 143 apartments in eight buildings. Harbor Village Townhomes contains 86 units in 18 two-story wood frame town-homes and was built on 5.80 acres in 1983. Onsite amenities for each section include a swimming pool and laundry facility. About Lument ORIX Real Estate Capital Holdings, LLC, d/b/a Lument, is a subsidiary of ORIX Corporation USA. Lument is a national leader in commercial real estate finance. As the combined organization of legacy industry experts Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group, Lument delivers a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA, and USDA lender. In addition, Lument offers a suite of proprietary commercial lending, real estate investment sales, investment banking, and investment management solutions. Lument has approximately 600 employees in over 25 offices across the United States. Securities, investment banking, and advisory services are provided through OREC Securities, LLC, d/b/a Lument Securities, Member FINRA/SIPC. Investment advisory services are provided by OREC Investment Management, LLC, d/b/a Lument Investment Management. OREC Investment Management is registered as an investment adviser with the U.S. Securities and Exchange Commission.

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REAL ESTATE INVESTMENT

Embrey Sells The Harper Luxury Apartments In Franklin, Tennessee

Embrey | April 22, 2022

The Harper Luxury Apartments in Franklin, Tennessee, has been sold by Embrey of San Antonio, Texas. The Harper is part of a mixed-use, planned community being developed by SouthStar and Embrey, which are both known for developing highly desirable living and working experiences. It has been a pleasure to be a part of such a well-planned horizontal mixed-use master plan and partnering with SouthStar. Every good development has a great story. This was a very complex transaction and without the collaboration of SouthStar, Gamble Design Collaborative, Kimley Horn Engineers, and HEDK Architects, The Harper could not have been developed." Brad Knolle, Executive Vice President of Development at Embrey The 328-unit property features luxurious interiors such as nine-foot ceilings, open floor plans, granite countertops, large islands and stainless-steel appliances in the kitchen. Community amenities include a resort-inspired pool with cabanas, an elegant clubhouse with a fireplace and a billiards room, a yoga studio and a fully equipped business center. The Harper is scheduled for substantial completion in July 2022 and the one- and two-bedroom units are now leasing. Embrey Management Services, nationally recognized for providing exemplary residential services, has been selected to manage this property. About Embrey San Antonio-based Embrey 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

Paraiso Real Estate Introduces Tokenized Vacation Rental Portfolio

Paraiso Real Estate | April 27, 2022

Paraiso Real Estate, a real estate rental and sales agency has launched its own token for its upcoming vacation rental portfolio. Founded by blockchain and real estate entrepreneur, Eric Klein, Paraiso Real Estate will allow exclusive access to its LATAM rental units for the firm's token holders and investors. The firm says it plans to remove centralised platforms such as Airbnb to provide a more private, upscale and exclusive experience. More details can be found in the firm's discord. Paraiso Real Estate operates much like a traditional vacation rental company. It offers private rentals with hotel amenities in some of the world's most beautiful destinations – starting with Medellin. What separates the firm from its competitors is the branded membership experience that users will receive including access to a variety of luxury rentals, spa services, massages, business amenities, networking opportunities, and more. "We're mobilizing the hotel industry" Eric Klein says. "Whether it's a villa, condo or penthouse, guests can expect consistent hospitality across the platform. Our vision is to provide elevated rentals with units around the world and guests have access to these properties through our token." Paraiso Real Estate launched on Unicrypt last week with their pre-sale selling out in under 20 minutes. The token went public on PancakeSwap on April 20th. The firm is anticipating a sharper rise once listed on CoinGecko, CoinMarketCap and other leading exchanges and indexes. To date, Paraiso already has over 700 members between their discord and telegram groups. We've done zero marketing. That goes to show that people are ready for a product like this. It's the way of the future. We expect to have over 60 properties by the end of 2022 and a membership base of over 1,000 token holders." Maria Caudia says, Director of Operations

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REAL ESTATE TECHNOLOGY

BioMed Realty Acquires Premier Site in Seattle Innovation Cluster

BioMed Realty | April 18, 2022

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.

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Spotlight

Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice becomes obvious.

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