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City Office REIT Announces Raleigh Acquisition

City Office REIT | January 03, 2022

City_Office_REIT
City Office REIT, Inc. (NYSE: CIO) ("City Office" or the "Company") announced today that it has closed the acquisition of Bloc 83, a premier two-building office complex located in Raleigh, North Carolina, for a gross purchase price of $330.0 million exclusive of closing costs.

The 494,000 square foot, newly built Class A complex possesses a prime location, market-leading features and strong tenancy.  Bloc 83 is situated in the Glenwood South submarket, a preeminent live-work-play district of downtown Raleigh.  Glenwood South has attracted a population of young professionals relocating from larger metro areas and is the epicenter of Raleigh's dining, shopping and entertainment district.

Bloc 83 features best-in-class, modern tenant buildouts, common areas and amenities.  Highlights of the property include state-of-the-art fitness centers, a rooftop sky lounge, a yoga studio, various retail amenities and expansive lounges.  The first building was delivered in 2019 and is currently 93% leased with a weighted average lease term remaining of approximately 10.3 years.  The second building was delivered in 2021 and is in its initial lease-up phase at approximately 67% leased as of closing.

Adding Raleigh to our footprint of high growth markets in the south and west strategically enhances our portfolio, Raleigh's highly educated workforce has been a driver for growth in the STEM and life science industries.  The region's tier one research universities, high quality of life and diverse economy positions it favorably over the long term."

James Farrar, the Company's Chief Executive Officer.

About City Office REIT, Inc.
City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located in leading 18-hour cities in the Southern and Western United States. City Office currently owns or has a controlling interest in 6.2 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.

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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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PRnewswire | August 22, 2023

Green Street, the preeminent provider of actionable commercial real estate intelligence and analytics, has partnered with Snowflake, the Data Cloud company, to deliver real-time U.S. and Pan-European commercial real estate intelligence on Snowflake Marketplace. "Green Street is committed to delivering seamlessly connected commercial real estate data, analytics, research and news on both the public and private real estate markets in various formats," said John Guilfoy, Chief Product Officer for Green Street. "This collaboration gives clients yet another means to easily extract extensive time series data and predictive analytics – such as cap rates, market grades, and forecasts – and seamlessly integrate them into their own company models, internal systems, and daily workflows. We are excited to partner with Snowflake for this new method of data delivery." Some key Snowflake capabilities include: • Systematic updates: New data and analytics are promptly reflected in Snowflake. • Integrations: Market participants can connect to their company's preferred integrations, including BI/dashboarding tools, internal databases and more. Snowflake Marketplace simplifies discovery, access, and the commercialization of data products, enabling companies to unlock entirely new revenue streams and extended insights across the Data Cloud. To learn more about Snowflake Marketplace click here. About Green Street Green Street is the preeminent provider of actionable commercial real estate research, news, data, analytics, and advisory services in the U.S. and Europe. For more than 35 years, Green Street has delivered unparalleled intelligence and trusted data on the public and private real estate markets, helping investors, banks, lenders, and other industry participants optimize investment and strategic decisions. The firm delivers exclusive market information, conclusion-driven insights, and predictive analytics through a SaaS platform.

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GoldOller Real Estate Expands Management Relationship with Excelsa Properties

PRnewswire | August 07, 2023

GoldOller Real Estate Investments, a real estate investment and management firm, announces the addition of Tribeca at Camp Springs in Camp Springs and Concord Park at Russett, both in Maryland, to its growing portfolio of third-party managed communities. "We are thrilled to be expanding our relationship with Excelsa Properties," said GoldOller President and COO Jake Hollinger. "We bring an owner mentality to all of our projects, and this approach to our third-party management projects is why owners and investors like Excelsa trust us to manage their assets." Tribeca at Camp Springs features 235 rental apartments, 46 condo units, and five retail spaces. The community is ideally located adjacent to the Branch Avenue Metro Station and minutes from Joint Base Andrews in the Washington, DC metro area. Concord Park at Russett is located in Laurel and consists of 335 apartments. Located minutes from the NSA offices, Fort Meade, and the Baltimore-Washington Parkway, Concord Park is halfway between Baltimore and Washington. "These communities represent the third and fourth assets owned by Excelsa that we are managing for them, and we look forward to experiencing continued success in our partnership," said Sarah Campion, Vice President of Asset Management for GoldOller. In addition to Tribeca at Camp Springs, the GoldOller and Excelsa partnership includes Columbia Pointe, a 325-unit community in Columbia, MD, and Coventry Green, a 256-unit community in Goose Creek, SC. All four projects will include a value-add business plan for interior apartment renovations and upgrades to community amenities. "Excelsa has an appetite for more deals," said Excelsa Director of Asset Management Curtis Holder. "We are actively pursuing investment opportunities and look forward to growing our portfolio of value-add apartment communities." About GoldOller Real Estate Investments Formed in 2008 by industry veterans Richard Oller, Jeffery Goldstein, and Jake Hollinger, GoldOller is an innovative owner-operator and third-party manager of apartment communities throughout the United States. Ranked #35 in the National Multifamily Housing Council's list of Top 50 Managers, GoldOller and its affiliate Multifamily Management Services own and manage over 45,500 apartments in 23 States.

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Esusu and National Rental Home Council Unite to Empower Renters through Historic Rent Reporting Partnership

Globenewswire | July 07, 2023

The National Rental Home Council (NRHC), the trade association representing the single-family rental home (SFR) industry, and Esusu, the leading fintech company leveraging rent reporting for credit-building, announced a groundbreaking partnership. Esusu will offer its financial health platform to residents in single-family rental homes owned and operated by NRHC members, aiming to improve their livelihood and financial well-being. This collaboration between Esusu and NRHC is a pivotal moment in the rental home industry. By enabling rent reporting, both organizations champion financial inclusion and empower renters to build credit histories that can transform their lives. Rent reporting provides SFR residents with a unique opportunity to establish and enhance their credit profiles, granting improved access to credit, mortgages, and other financial services that were previously out of reach. The impact of this partnership extends beyond individuals and will benefit communities across the country and the industry as a whole. Since its establishment in 2018, Esusu has empowered millions of renters to improve their credit scores by reporting on-time rent payments to major credit bureaus. Alongside credit-building opportunities, the Esusu platform offers renters comprehensive tools, including financial literacy content, community resources, and rent relief funds to navigate financial emergencies. With this partnership, Esusu will significantly expand its reach within the growing SFR industry, addressing the needs of a vast and diverse segment of the population that has often been underserved. NRHC, known for its commitment to advancing the SFR industry and fostering sustainable communities, recognizes the immense potential of rent reporting as a catalyst for positive change. By partnering with Esusu, NRHC demonstrates its dedication to improving the financial well-being and stability of SFR residents, encouraging SFR owners and operators to provide this meaningful and differentiated amenity to their residents. “Esusu and NRHC share an unwavering commitment to preserving economic mobility and fortifying the financial fabric of neighborhoods throughout the nation,” emphasized Samir Goel and Wemimo Abbey, Co-Founders and Co-CEOs of Esusu. “This momentous partnership will empower communities across the country to tap into Esusu's comprehensive platform for resident financial health. By joining forces with NRHC, we aim to catalyze significant strides towards our vision of bridging the racial wealth gap and paving pathways to prosperity for residents in single-family rental homes.” “NRHC is proud to be at the forefront of this transformative partnership with Esusu,” said David Howard, CEO of NRHC. “Together, we are ushering in a new era of financial empowerment for residents of single-family rental homes. By embracing rent reporting, we are laying the foundation for a more inclusive and equitable housing landscape, ensuring that all residents have the opportunity to achieve their financial goals." “Progress Residential is proud to have been a pioneer in offering positive rent reporting in the single-family rental industry through our partnership with Esusu,” said Adolfo Villagomez, Chief Executive Officer of Progress Residential. “Since launching in March 2022, 57 percent of our participating residents have seen increases in their credit scores, and more than 5,000 residents established first time credit scores, unlocking greater financial potential. We commend NRHC for advocating for the expansion of rent reporting, and we are excited about the transformative impact today’s announcement will make on the financial well-being of so many individuals and families across the SFR industry." “We are pleased to work directly with Esusu on free reporting of positive rent payments for our residents, and this partnership between NRHC and Esusu is a powerful build that provides many SFR residents the full suite of financial planning tools that Esusu offers,” said Dallas Tanner, CEO of Invitation Homes. “Our residents appreciate the choice and flexibility offered by a single-family rental home, and the partnerships with Esusu offer tools that can further help SFR residents realize their financial goals.” The collaboration of all involved is a testament to their shared vision of a future where financial opportunities are accessible to all, regardless of socioeconomic background. This historic partnership will propel the industry forward, empowering millions of SFR residents and fostering a more prosperous and inclusive society. About Esusu Esusu is the leading financial technology platform that leverages data solutions to empower residents and improve property performance. Esusu's rent reporting platform captures rental payment data and reports it to credit bureaus to boost credit scores. This allows renters to build and establish their credit scores while helping property owners mitigate against initiating evictions, powered by differentiated data and insights. Founded in 2018, Esusu reaches over 4 million rental units across all 50 states in the United States. About NRHC The National Rental Home Council (NRHC) is the nonprofit trade association representing the single-family rental home industry. NRHC members provide families and individuals with access to high-quality, single-family rental homes that contribute to the vitality and vibrancy of neighborhoods and communities.

Read More

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.

Read More

Real Estate Investment

Green Street Launches Seamless Commercial Real Estate Data Delivery on Snowflake Marketplace

PRnewswire | August 22, 2023

Green Street, the preeminent provider of actionable commercial real estate intelligence and analytics, has partnered with Snowflake, the Data Cloud company, to deliver real-time U.S. and Pan-European commercial real estate intelligence on Snowflake Marketplace. "Green Street is committed to delivering seamlessly connected commercial real estate data, analytics, research and news on both the public and private real estate markets in various formats," said John Guilfoy, Chief Product Officer for Green Street. "This collaboration gives clients yet another means to easily extract extensive time series data and predictive analytics – such as cap rates, market grades, and forecasts – and seamlessly integrate them into their own company models, internal systems, and daily workflows. We are excited to partner with Snowflake for this new method of data delivery." Some key Snowflake capabilities include: • Systematic updates: New data and analytics are promptly reflected in Snowflake. • Integrations: Market participants can connect to their company's preferred integrations, including BI/dashboarding tools, internal databases and more. Snowflake Marketplace simplifies discovery, access, and the commercialization of data products, enabling companies to unlock entirely new revenue streams and extended insights across the Data Cloud. To learn more about Snowflake Marketplace click here. About Green Street Green Street is the preeminent provider of actionable commercial real estate research, news, data, analytics, and advisory services in the U.S. and Europe. For more than 35 years, Green Street has delivered unparalleled intelligence and trusted data on the public and private real estate markets, helping investors, banks, lenders, and other industry participants optimize investment and strategic decisions. The firm delivers exclusive market information, conclusion-driven insights, and predictive analytics through a SaaS platform.

Read More

Real Estate Technology

GoldOller Real Estate Expands Management Relationship with Excelsa Properties

PRnewswire | August 07, 2023

GoldOller Real Estate Investments, a real estate investment and management firm, announces the addition of Tribeca at Camp Springs in Camp Springs and Concord Park at Russett, both in Maryland, to its growing portfolio of third-party managed communities. "We are thrilled to be expanding our relationship with Excelsa Properties," said GoldOller President and COO Jake Hollinger. "We bring an owner mentality to all of our projects, and this approach to our third-party management projects is why owners and investors like Excelsa trust us to manage their assets." Tribeca at Camp Springs features 235 rental apartments, 46 condo units, and five retail spaces. The community is ideally located adjacent to the Branch Avenue Metro Station and minutes from Joint Base Andrews in the Washington, DC metro area. Concord Park at Russett is located in Laurel and consists of 335 apartments. Located minutes from the NSA offices, Fort Meade, and the Baltimore-Washington Parkway, Concord Park is halfway between Baltimore and Washington. "These communities represent the third and fourth assets owned by Excelsa that we are managing for them, and we look forward to experiencing continued success in our partnership," said Sarah Campion, Vice President of Asset Management for GoldOller. In addition to Tribeca at Camp Springs, the GoldOller and Excelsa partnership includes Columbia Pointe, a 325-unit community in Columbia, MD, and Coventry Green, a 256-unit community in Goose Creek, SC. All four projects will include a value-add business plan for interior apartment renovations and upgrades to community amenities. "Excelsa has an appetite for more deals," said Excelsa Director of Asset Management Curtis Holder. "We are actively pursuing investment opportunities and look forward to growing our portfolio of value-add apartment communities." About GoldOller Real Estate Investments Formed in 2008 by industry veterans Richard Oller, Jeffery Goldstein, and Jake Hollinger, GoldOller is an innovative owner-operator and third-party manager of apartment communities throughout the United States. Ranked #35 in the National Multifamily Housing Council's list of Top 50 Managers, GoldOller and its affiliate Multifamily Management Services own and manage over 45,500 apartments in 23 States.

Read More

Real Estate Investment, Mortgage and Lending

Esusu and National Rental Home Council Unite to Empower Renters through Historic Rent Reporting Partnership

Globenewswire | July 07, 2023

The National Rental Home Council (NRHC), the trade association representing the single-family rental home (SFR) industry, and Esusu, the leading fintech company leveraging rent reporting for credit-building, announced a groundbreaking partnership. Esusu will offer its financial health platform to residents in single-family rental homes owned and operated by NRHC members, aiming to improve their livelihood and financial well-being. This collaboration between Esusu and NRHC is a pivotal moment in the rental home industry. By enabling rent reporting, both organizations champion financial inclusion and empower renters to build credit histories that can transform their lives. Rent reporting provides SFR residents with a unique opportunity to establish and enhance their credit profiles, granting improved access to credit, mortgages, and other financial services that were previously out of reach. The impact of this partnership extends beyond individuals and will benefit communities across the country and the industry as a whole. Since its establishment in 2018, Esusu has empowered millions of renters to improve their credit scores by reporting on-time rent payments to major credit bureaus. Alongside credit-building opportunities, the Esusu platform offers renters comprehensive tools, including financial literacy content, community resources, and rent relief funds to navigate financial emergencies. With this partnership, Esusu will significantly expand its reach within the growing SFR industry, addressing the needs of a vast and diverse segment of the population that has often been underserved. NRHC, known for its commitment to advancing the SFR industry and fostering sustainable communities, recognizes the immense potential of rent reporting as a catalyst for positive change. By partnering with Esusu, NRHC demonstrates its dedication to improving the financial well-being and stability of SFR residents, encouraging SFR owners and operators to provide this meaningful and differentiated amenity to their residents. “Esusu and NRHC share an unwavering commitment to preserving economic mobility and fortifying the financial fabric of neighborhoods throughout the nation,” emphasized Samir Goel and Wemimo Abbey, Co-Founders and Co-CEOs of Esusu. “This momentous partnership will empower communities across the country to tap into Esusu's comprehensive platform for resident financial health. By joining forces with NRHC, we aim to catalyze significant strides towards our vision of bridging the racial wealth gap and paving pathways to prosperity for residents in single-family rental homes.” “NRHC is proud to be at the forefront of this transformative partnership with Esusu,” said David Howard, CEO of NRHC. “Together, we are ushering in a new era of financial empowerment for residents of single-family rental homes. By embracing rent reporting, we are laying the foundation for a more inclusive and equitable housing landscape, ensuring that all residents have the opportunity to achieve their financial goals." “Progress Residential is proud to have been a pioneer in offering positive rent reporting in the single-family rental industry through our partnership with Esusu,” said Adolfo Villagomez, Chief Executive Officer of Progress Residential. “Since launching in March 2022, 57 percent of our participating residents have seen increases in their credit scores, and more than 5,000 residents established first time credit scores, unlocking greater financial potential. We commend NRHC for advocating for the expansion of rent reporting, and we are excited about the transformative impact today’s announcement will make on the financial well-being of so many individuals and families across the SFR industry." “We are pleased to work directly with Esusu on free reporting of positive rent payments for our residents, and this partnership between NRHC and Esusu is a powerful build that provides many SFR residents the full suite of financial planning tools that Esusu offers,” said Dallas Tanner, CEO of Invitation Homes. “Our residents appreciate the choice and flexibility offered by a single-family rental home, and the partnerships with Esusu offer tools that can further help SFR residents realize their financial goals.” The collaboration of all involved is a testament to their shared vision of a future where financial opportunities are accessible to all, regardless of socioeconomic background. This historic partnership will propel the industry forward, empowering millions of SFR residents and fostering a more prosperous and inclusive society. About Esusu Esusu is the leading financial technology platform that leverages data solutions to empower residents and improve property performance. Esusu's rent reporting platform captures rental payment data and reports it to credit bureaus to boost credit scores. This allows renters to build and establish their credit scores while helping property owners mitigate against initiating evictions, powered by differentiated data and insights. Founded in 2018, Esusu reaches over 4 million rental units across all 50 states in the United States. About NRHC The National Rental Home Council (NRHC) is the nonprofit trade association representing the single-family rental home industry. NRHC members provide families and individuals with access to high-quality, single-family rental homes that contribute to the vitality and vibrancy of neighborhoods and communities.

Read More

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