Commercial Mortgage Originations in U.S. to Increase This Year

WORLD PROPERTY JOURNAL | January 14, 2020

Based on the Mortgage Bankers Association's 2020 Commercial Real Estate Finance Outlook Survey, following what is expected to be a record year of lending in 2019, commercial and multifamily mortgage originators anticipate 2020 to be another strong year. Nearly two-thirds of the top commercial/multifamily firms (64 percent) polled expect originations to increase in 2020, with one-in-six (16 percent) expecting an overall increase of 5 percent or more across the entire market. When forecasting just their own firm's originations, two-in-five (42 percent) expect to see an increase of 5 percent or more in lending in 2020.

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Southern California Gas Company (SoCalGas®) encourages the installation of new and existing natural gas technologies and services in residential housing.


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REAL ESTATE INVESTMENT

FCPT Announces Acquisition of a NextCare Primary Care Property for $1.8 Million

FCPT | May 19, 2022

Four Corners Property Trust, a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties, is pleased to announce the acquisition of a NextCare Primary Care property for $1.8 million. The property is located in a strong retail corridor in Arizona and is corporate-operated under a net lease with approximately 7 years of term remaining. The transaction was priced at a 6.4% going-in cash capitalization rate, exclusive of transaction costs. About FCPT FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.

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REAL ESTATE TECHNOLOGY

CEDARst Announces Residential Development Project Planned for San Diego's North Park and Hillcrest Neighborhoods

CEDARst | April 01, 2022

CEDARst Companies, a leading multifamily developer, announced plans to bring a new ground-up residential development to San Diego's historic North Park and Hillcrest neighborhoods. We are thrilled to bring our distinct brand of apartments to one of the best submarkets on the west coast. We believe our high-quality and fairly priced apartments will be a fantastic new option for residents of these historic neighborhoods." Will Murphy, Managing Partner and CEO, CEDARst 4135 Park Blvd. is expected to break ground later this month and open its doors 24 months after construction begins. The 205,000 square foot, $74.4 million project includes a 7-story midrise building that will offer a wide range of amenities, including a café, fitness center, spacious lounge, game room, and exterior deck with a pool, hot tub, cabanas, and communal kitchen. 4135 Park Blvd. is in a Qualified Opportunity Zone and is one of several CEDARst properties under contract in the San Diego region. "Opportunity Zones have opened up a unique chance for firms like CEDARst to develop high-quality apartments with top in class amenities at an affordable price point," said Murphy. "We're excited to work in such a dynamic community and look forward to expanding our footprint here in San Diego in the months and years ahead." Bridge Investment Group is an equity partner in the 190-unit project and BMO Harris Bank is the project lender. Construction will be managed by general contractor Suffolk Construction, and the project's architect is Studio E. "We are pleased to continue our partnership with CEDARst in a market like San Diego," said David Coelho, Chief Investment Officer of Bridge Investment Group's Opportunity Zone Funds. "The project fits well within Bridge's mandate to focus on multi-family, transit-oriented developments as an avenue to revitalize underserved communities by investing in building sustainable neighborhoods." CEDARst applies an innovative approach to residential developments with a focus on enhancing resident lifestyles and surrounding communities. Nationally, the firm has amassed a growing portfolio of distinguished and high-quality residential projects, spanning seven states across the country, with a unit count in excess of 5,000. About CEDARst CEDARst Companies is a fully integrated multifamily developer headquartered in Chicago Illinois. With over 50 years of combined experience, CEDARst applies a vertically integrated approach to the development of residential assets. CEDARst's $2 billion portfolio is comprised of more than 5,000 units, offering high quality apartments and a luxury experience at an approachable price point in markets across the country. About Bridge Investment Group Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $36.3 billion of assets under management as of December 31, 2021. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: residential rental, office, development, logistics properties, net lease and real estate-backed credit.

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REAL ESTATE TECHNOLOGY

Thompson Thrift Residential Announces Luxury Multifamily Community in Daytona Beach

Thompson Thrift | May 25, 2022

Thompson Thrift Residential, a wholly-owned affiliate of Indianapolis-based Thompson Thrift and one of the nation's leading multifamily developers, announced today the development of Drift, a luxury multifamily community in Daytona Beach. Thompson Thrift plans to welcome new residents beginning in the summer of 2023. Drift's central location provides residents with easy access to Daytona Beach and other large cities along Florida's eastern coast. The Daytona market has witnessed high demand for multifamily communities over the past 10 years and we are pleased to be bringing one of our distinctive luxury communities to this growing community." Josh Purvis, managing partner for Thompson Thrift Residential Located off Williamson Boulevard near the southwest corner of Interstate 95 and Granada Boulevard, the 29.5-acre site will offer 300 one-, two-, and three-bedroom apartment homes averaging 1,000 square feet. Residents will be able to choose from a variety of layouts in three-story garden style buildings with a host of in-demand finishes including stainless steel appliances, quartz countertops, tile backsplashes, walk-in closets, and full-size washers and dryers. The luxury living experience will extend throughout the community with a clubhouse featuring stylish entertainment spaces, a 24-hour fitness center, resort-style swimming pool, dog park, community gardens, community-wide WiFi, and more. Residents will be conveniently close to a wide variety of retailers, restaurants and day-to-day services, and just a few miles from Daytona's Main Street Pier and the Daytona International Speedway. The 327-bed Advent Health Daytona is located directly across the street. Daytona Beach is known as the "World's Most Famous Beach", earning its name back in the 1920s as the sandy beaches once used for racing gave way to development of the famous Daytona International Speedway, which now brings over 100,000 people to the Daytona 500 each year. In recent years, the healthcare sector has driven much of the economic growth with approximately 40,000 people working in the healthcare and education sectors. Thompson Thrift has made a name for itself by being one of the few developers to build Class A residential communities in markets across the country with a range of conventional, luxury leased villa and townhome-style communities. Throughout its history, the company has invested more than $3.7 billion and has become known as a trusted partner committed to developing high-quality, attractive communities. The company recently earned the distinction of being named one of GlobeSt. Real Estate Forum's Influencers of Multifamily Real Estate for 2021. About Thompson Thrift Real Estate Company Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana, Houston and Phoenix. Three business units drive Thompson Thrift's success—Thompson Thrift Residential which is focused on upscale Class A multifamily communities and luxury leased homes, Thompson Thrift Commercial which is focused on ground-up commercial development, and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail, industrial and commercial projects across the country. We are passionate about our customer's success and strive to ensure our projects not only meet the needs of our customers but also the communities we serve.

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REAL ESTATE TECHNOLOGY

JPAR - Real Estate Enters Lubbock, Texas Market Through Acquisition Of John Walton Realtors

JPAR - Real Estate | March 23, 2022

JPAR Real Estate, America's #1 fastest-growing, full service 100% commission brokerage, announced the acquisition of John Walton Realtors in Lubbock Texas. John Walton Realtors has been serving the Lubbock community for more than 45 years. With nearly 40 sales associates, they have a long standing legacy of serving the West Texas market that is consistent with the values of JPAR - Real Estate - integrity, productivity and service. We are excited to join forces with Wayne and Wendy Walton and all the associates of this amazing firm. Over the last 45 years they have created a market presence and legacy of service that we take very seriously. Both firms are known for exceeding customer expectations and serving the local community. We look forward to continuing that tradition of excellence." Mark Johnson, President of JPAR - Real Estate The firm's Lubbock office will remain at its current location and Wayne Walton will join the JPAR - Real Estate staff as a support broker. Wayne Walton said, "I am excited to join the JPAR - Real Estate family. Mark Johnson is an exceptional leader and visionary who has his pulse on how best to serve today's real estate professionals and the consumer. Our associates will benefit from a world-class technology platform and full service, a capped, transaction-based financial model." Lubbock is a new market for JPAR - Real Estate and is the 11th-most populous city in Texas. With a population of 257,141 in 2020, the city is also the 86th-most populous in the United States. Lubbock's nickname, "Hub City", derives from it being the economic, educational, and health-care hub of the multi-county region, north of the Permian Basin and south of the Texas panhandle. "It was important for us to partner with a solid operator like JPAR – Real Estate. Mark Johnson and the JPAR team understand the real estate brokerage business," stated Wayne Walton. We support their mission to develop influential industry leaders and we feel confident its industry-leading marketing, technology and training programs will benefit all of our associates and extend our legacy for years to come." About JPAR - Real Estate JPAR - Real Estate and JPAR Franchising is a full-service real estate brokerage and franchise platform offering a highly competitive transaction fee-based model and agent-centric culture. The JPAR platform provides agents 7 day-per-week broker support, physical office locations, a comprehensive tech stack and open architecture, physical office locations, marketing, lead generation, training, coaching, mentoring and agent health care. The company boasts more than 3,300 agents operating in 65 offices across 25 states and closes more than $8B annually in sales volume.

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Spotlight

Southern California Gas Company (SoCalGas®) encourages the installation of new and existing natural gas technologies and services in residential housing.

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