Construction input prices inch down in December

Associated Builders and Contractors | January 12, 2018

Overall construction input prices declined 0.1 percent in December, yet despite the lack of inflation for the month, prices are up 5 percent on a year-over-year basis, according to an Associated Builders and Contractors (ABC) analysis of Bureau of Labor Statistics data released today.  Nonresidential construction materials prices also declined 0.1 percent for the month and are up 4.8 percent from the same time one year ago.  Energy prices have been more volatile lately. Natural gas prices increased 13.7 percent from November, but are 6.3 percent lower on a year-over-year basis. Crude petroleum prices rose 16.4 percent between December 2016 and December 2017 and have been climbing higher during the first days of 2018.

Spotlight

Economic uncertainty, the presidential election and the European debts crisis slowed leasing activity across U.S. office markets in Q3 2012. Across the East, indecision was deepest in Washington,D.C., where political uncertainty not only affected overall occupier decision making, it is also reducing the amount of space required.


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REAL ESTATE INVESTMENT

Coastal Ridge Real Estate to Develop Build-for-Rent Community in Central Ohio

Coastal Ridge Real Estate | September 01, 2022

Columbus, Ohio – Coastal Ridge Real Estate (Coastal Ridge) a national multifamily investment, management, and development firm, announced today that they are continuing the expansion of their Stillwell brand with a new project in Central Ohio. The firm will build 230 build-for-rent (BFR) homes at Jerome Village, a master-planned community developed by Nationwide Realty Investors. Jerome Village boasts a wide range of housing styles and options to support Central Ohio’s growing population and housing needs. The community includes over 700-acres of parks, and green space with a network of walking and nature trails connecting to Glacier Ridge Metro Park. “The Stillwell brand compliments the lifestyle offered at Jerome Village, We’re enthusiastic about our partnership with Jerome Village and Hallstatt Real Estate Partners on this project and look forward to welcoming our first set of residents to our community in 2023.” -Jerimi Nuckolls, Director of Development at Coastal Ridge Coastal Ridge launched the Stillwell brand earlier this year with Stillwell Wellen Park and Stillwell Avery Centre, BFR projects in Sarasota, Florida and Round Rock, Texas, respectively. We’ve looked forward to the day when we could announce the Stillwell brand would be coming to the Central Ohio community, With so many of our Coastal Ridge team members located in Central Ohio and our corporate headquarters located in downtown Columbus, this project is of particular importance to our organization and development team,said Andy Lallathin, Co-Founder and Managing Partner at Coastal Ridge. Stillwell Jerome is being developed in a joint venture partnership with Halstatt Real Estate Partners and Coastal Ridge, with Columbus-based, Hallmark Construction serving as the contractor. Stillwell Jerome will be located within the Fairbanks School District and will feature one-, two-, and three-bedroom homes with first-floor private entries and individual backyards. Residents will have onsite access to a resort-style pool, state-of-the-art clubhouse, walking trails, outdoor seating areas, and a fitness center. About Coastal Ridge Real Estate Headquartered in Columbus, OH, Coastal Ridge Real Estate is a full-service real estate investment and property management firm executing on core, core plus, value add, and ground-up development investment strategies in the multifamily real estate asset class. The firm's vertically integrated platform includes divisions to oversee investment management, property management, and development. Coastal Ridge's current portfolio is comprised of 35,000+ conventional apartment homes and student housing beds spanning 53 distinct markets, with assets under management totaling over $4 billion. Coastal Ridge has been recognized as an Inc. 5000 Fastest-Growing Private Companies in America five times. About Stillwell Created by Coastal Ridge, Stillwell is an innovative multifamily housing concept within the build-for-rent sector. This innovative product known as a Horizontal Apartment or Cottage Community consists of free-standing one- and two-story single-family residential homes with private yards, utilizing shared parking similar to a typical garden apartment layout, and featuring programmed amenities. This product offers a new option for residential living, providing the privacy of a single-family home, and the amenities, professional management, and ease of living of a traditional apartment community. About Halstatt Real Estate Partners Halstatt Real Estate Partners (HREP), a women-owned real estate private equity firm, has participated in the acquisition and development of over $1 billion in Southeast based real estate assets since 2011. Founded by the Sproul family, based in Naples, Florida, and a proud part of the Barron Gift Collier legacy in Southwest Florida, HREP invests in middle market, value add and opportunistic commercial and residential real estate projects. HREP works with best-in-class local and regional operating partners to maximize the value of its real estate investments. HREP invests alongside a cross-section of institutional limited partners from fund to fund including charitable foundations and endowments, domestic and international family offices, and corporate pension funds with a history of continuity.

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REAL ESTATE TECHNOLOGY

Dalfen Industrial Acquires Sacramento Industrial Property

Dalfen Industrial | July 18, 2022

Dalfen Industrial has acquired Belvedere Logistics Center, a Sacramento industrial property at 8301 Belvedere Ave. The 348,000 square foot property is 100% occupied by River City Storage and American Furniture Warehouse. The industrial property is located in the Power Inn submarket of Sacramento. The location is near US 50 which bisects I-5 and I-80. The access to these interchanges provides both east-west and north-south connectivity throughout the west coast, making Sacramento an excellent distribution hub. The tremendous infill location provides the ability to reach 67% of the population within 30 minutes and over 3.8 million people within 50 minutes. Other tenants in the area include Siemens, Ross Stores, Ferguson and Proctor & Gamble. "Acquiring Belvedere Logistics Center provides access to another key west coast market that demonstrates both limited vacancy and new construction, Sacramento's relative affordability and sustained population growth combine to make infill opportunities like this very attractive." Rich Weiss, Market Officer for Dalfen's west region This acquisition is the 9th California property acquired by Dalfen Industrial since last June. About Us Dalfen Industrial LLC, headquartered in Dallas, is one of the largest buyers of industrial real estate in the United States and is a leader in the last-mile property sector. Their investment focus is on strategically located urban infill warehouses and distribution buildings. Dalfen currently owns and operates millions of square feet of premier industrial properties throughout the United States.

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REAL ESTATE TECHNOLOGY,REAL ESTATE ADVICE

Greystone and Project Destined Deepen Career Development Impact with Two New Programs

Greystone and Project Destined | September 02, 2022

Greystone, a leading national commercial real estate finance company, and Project Destined, a leading social impact platform that provides training in financial literacy, entrepreneurship, and real estate, have expanded their partnership with two new engagements to increase exposure and opportunities for emerging leaders in commercial real estate. This summer, Greystone hosted 15 students in a summer intensive program that introduced high school students from Comp Sci High in The Bronx to key CRE finance topics, as well as matching the students with Greystone mentors to guide them in real-world deal analytics. Comp Sci High students also visited a Greystone multifamily development project in Harlem, NYC to learn how a project progresses from spreadsheets to hammers and to see first-hand how a multifamily property is managed once complete. This month, Greystone also launched a new bridge career development program open to students at HBCUs and other colleges nationwide. Accepted applicants receive a scholarship for the seven-week program which includes CRE curriculum, mentorship, and site visits to Greystone offices to learn more about the company and the work it does across various business lines – real estate lending, asset management, and underwriting. “We are so thrilled to build on our successful relationship with Project Destined, which has opened doors wide for CRE career hopefuls, and formed impactful bonds between our mentors and the students, who have shown so much promise for the future,” - Pranika Sinha, Head of DEI at Greystone Project Destined, founded by former Carlyle Group executive Cedric Bobo, has partnered with over 150 leading real estate firms and over 200 universities around the country since its founding to provide diverse students with paid, virtual internship opportunities where they explore the real estate industry and ownership through live real estate deals in various cities across the U.S. In order for students to be successful, they need exposure to the skills and resources needed to build a career in CRE, and our internships programs are designed to do just that, with a combination of curriculum, mentorship, and real-world application, We appreciate Greystone’s entrepreneurial approach in taking students under their wing, going above and beyond, and growing these programs with us as we expand the impact we can have on bringing opportunities to students nationwide,said Mr. Bobo. About Greystone Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. About Project Destined Project Destined is a leading social impact platform that provides training in financial literacy, entrepreneurship, and real estate. Project Destined partners with corporations, schools, and non-profits to deliver training using its proprietary e-learning platform and live courses. Project Destined leverages a work-based learning approach where students work with executives to evaluate live deals in their community and present them in a pitch competition to industry leaders. Scholars emerge with the skills, confidence, experiences, and networks that prepare them to secure a strong first job and to become stakeholders in their community.

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BROKERAGE,MORTGAGE AND LENDING

Real Estate Tech Brokerage Radius Launches In-House Mortgage Brokerage in California

Radius | August 04, 2022

Radius, the tech-enabled brokerage, today announced it has launched a mortgage brokerage in California. The mortgage launch comes on the heels of the company's $14 million Series A fundraise and recent expansion to Texas, Florida and Washington. Radius is a full service, modern brokerage that provides real estate professionals and their teams with the support and tools needed to grow their business — with a simplified and modest flat fee commission structure. The brokerage empowers entrepreneurial real estate professionals with integrated technology, mentorship, recruiting, financial services and marketing resources to build and amplify their own brand. With the addition of a mortgage brokerage, Radius agents and their clients in California will have access to a more seamless and transparent lending experience. With access to real-time status updates and critical documents in their client dashboards, Radius agents will be able to provide quality information about the lending process to their clients — while being supported by a dedicated team. Radius' mortgage arm will be led by Director of Mortgage Michael Bardales, a 20-year veteran of California lending and Senior Lending Manager Grace Davis, a 17-year real estate veteran and top lending officer in the state. "We're building Radius Mortgage from the ground up to be a premier lender in California, For far too long, the lending process has been frustrating and burdensome for agents and their clients alike. By keeping cost structures low and bringing transparency to the entire lending process, we hope to help real estate professionals deliver a better client experience and grow their businesses." - Sam Kasle, Radius' Chief Revenue Officer Dedicated to developing the whole agent, Radius helped real estate professionals and their teams close more than $400 million in sales in the first quarter of 2022, while the referral network has generated $25 billion in referral commissions in the last three years. The company has doubled revenue in the last five months, and seen 300 percent revenue growth year-over-year. Radius now operates in California, Colorado, Georgia, Oregon, Texas, Florida, and Washington. Building on its real estate social network of more than 85,000 agents nationwide, Radius plans to further expand across the U.S. by the end of the year. About Radius Radius is the premier tech-driven brokerage firm for real estate professionals eager to grow their brands and profits. From networking opportunities, branding/marketing resources, to white-glove services for buyers and sellers, Radius is poised to help real estate professionals grow their businesses while saving them time and money. Founded in 2015, Radius is backed by the founders of Trulia, Zillow and Roofstock.

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Spotlight

Economic uncertainty, the presidential election and the European debts crisis slowed leasing activity across U.S. office markets in Q3 2012. Across the East, indecision was deepest in Washington,D.C., where political uncertainty not only affected overall occupier decision making, it is also reducing the amount of space required.

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