CoreLogic: Declining foreclosure rates highlight the nation's strong job market

CoreLogic | August 13, 2019

The U.S. mortgage delinquency rate declined in May, according to the Home Price Index report from CoreLogic, a global property information, analytics and data-enabled solutions provider. Nationally, 3.6% of mortgages remained in some stage of delinquency, meaning 30 days or more past due, including homes in foreclosure. That's down from 4.2% in May 2018.

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REAL ESTATE INVESTMENT

Terreno Realty Corporation Acquires Property in Santa Clara, CA for $54.6 Million

Terreno Realty Corporation | May 09, 2022

Terreno Realty Corporation, an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Santa Clara, California on May 4, 2022 for a purchase price of approximately $54.6 million. The property consists of one industrial distribution building containing approximately 135,000 square feet on 6.5 acres. The property is at 3660 Thomas Road, adjacent to US 101, the Bayshore Freeway, provides 13 dock-high and five grade-level loading positions and parking for 91 cars. The property is 100% leased to four tenants, which expire between 2022 and 2027, and the estimated stabilized cap rate is 2.5%. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization. AboutTerreno Realty Corporation Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.

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REAL ESTATE TECHNOLOGY

UL Partners with InSite to Help Advance Building Intelligence, Technology Integration and Performance

UL | May 12, 2022

UL, a global safety science leader, announced a new partnership with InSite, a provider of building intelligence solutions that enable organizations to optimize performance of real estate assets, achieve sustainability goals and fulfill environmental, social and governance (ESG) reporting requirements. With this partnership, InSite will provide building owners and property managers with actionable building intelligence data to complement UL's ESG advisory, sustainability and energy advisory, indoor environmental quality and field services. UL's advisory services include services such as energy and water audits, commissioning advisory services, sustainability certifications, including Leadership in Energy and Environmental Design (LEED), Building Research Establishment's Environmental Assessment Method (BREEAM), Fitwel and the WELL Building Standard. Per the 2020 Global Status Report for Buildings and Construction by GlobalABC, buildings generate nearly 40% of annual global CO2 emissions including 28% from building operations. As part of the UL and InSite combined offering, InSite's building intelligence platform will support robust reporting and disclosure of ESG and sustainability data to key stakeholders such as GRESB. UL will leverage InSite's extensive data integration capabilities and operational insights to provide relevant advisory expertise, such as carbon accounting and net zero carbon emissions. ESG reporting for a building encompasses a variety of environmental metrics. According to the 2020 United Nations Global Status Report for Buildings and Construction, the operations of buildings contribute to 28% of total global energy-related carbon dioxide emissions. In addition to greenhouse gas emissions, other environmental factors should be considered for ESG reporting, including energy use, water consumption, solid waste and biodiversity. The commercial real estate industry has prioritized formulating building performance and ESG data as well as related reporting standards as part of overall property management operations. UL's new partnership with InSite will allow us to serve customers with an end-to-end technology and advisory solution to help inform these critical business decisions, including asset allocation, property management company selection and overall investment strategies." Sean McCrady, global director of UL's Asset and Sustainability Performance group "We are extremely excited about our new partnership with UL and the positive impact it will have on our customers. This partnership allows us to continue monitoring and reporting building performance, sustainability and ESG data while enriching and elevating our clients' sustainability journeys with UL's industry-leading advisory," said Francis Gangemi, InSite's president. About InSite InSite is a premier business intelligence solution for real estate owners and operators. InSite's software as a service (SaaS) platform and managed services provide innovative, data-driven insights enabling clients to achieve ESG and sustainability goals and improve building performance while reducing operating costs. InSite's cloud-based platform seamlessly integrates data from a multitude of sources and systems. Leveraging a combination of machine learning and human analytics, InSite delivers actionable intelligence for optimization of real estate operations in support of strategic objectives and regulatory compliance. About UL UL is a global safety science leader. We deliver testing, inspection and certification (TIC), training and advisory services, risk management solutions and essential business insights to help our customers, based in more than 100 countries, achieve their safety, security and sustainability goals. We believe our deep knowledge of products and intelligence across supply chains make us the partner of choice for customers with complex challenges.

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INVESTMENTS

Brennan Acquires In-Fill Industrial Sites along I-90 in Hoffman Estates, Illinois

Brennan Investment Group | February 01, 2022

Brennan Investment Group, a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States, has announced its acquisition of two land parcels totaling approximately 21 acres along I-90 in Hoffman Estates, IL. The plan is to develop a state-of-the-art, speculative industrial building totaling 201,600 square feet on the larger, 17-acre site and simultaneously pursue build-to-suits on the smaller, 4-acre site. The properties are situated 10 miles northwest of O'Hare International Airport and provide excellent access to the Chicago MSA via key highway systems and transportation infrastructure. The properties will have I-90 visibility and benefit from convenient access to I-90 at the Barrington Road interchange, and subsequently, to interstates I-290, I-294, and I-355, providing superior transportation routes for the end user, their customers, and their employees, As of Q4 2021, the overall Chicago industrial market contained approximately 1.2 billion square feet of industrial inventory, which equates to a vacancy rate of 3.3%." Kevin Brennan, Managing Principal for the Midwest Region. This transaction is illustrative of Brennan's preferred method of land acquisition: in-fill parcels in major markets whose submarkets have compelling fundamentals, Brennan's overall development pipeline will exceed $1 billion in 2022." Scott McKibben, Brennan's Chief Investment Officer. About Brennan Investment Group Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired or developed $5 billion in industrial real estate in 30 states. The company's current portfolio spans 27 states and encompasses approximately 46 million square feet. Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The company has 11 regional offices throughout the United States, and the firm's management team is among the most accomplished in its industry, having invested in over 5,000 properties covering more than 60 cities throughout the United States, Canada and Europe.

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REAL ESTATE INVESTMENT

Capital Square 1031 Acquires Recently Constructed 200-Unit Multifamily Community Near Richmond

Capital Square | December 24, 2021

Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced today the acquisition of a recently constructed, Class A, 200-unit multifamily community in Midlothian, a suburb of Richmond, Virginia. The community was acquired on behalf of CS1031 Artistry at Winterfield Apartments, DST. Artistry at Winterfield is another superb addition to Capital Square's growing portfolio of Class A apartment communities in the Southeast to Texas, Located in Midlothian, Virginia, a short drive on Highway 288 from Capital Square's headquarters, Artistry is located in a well-to-do neighborhood with a median household income of $172,916 within a one-mile radius, according to Yardi Matrix. And the icing on the cake – 19.6% rent growth in the submarket, the highest year-over-year rent growth in the region, as of August 2021.* Artistry should provide investors with stable income during the holding period and exceptional appreciation potential." Louis Rogers, founder and chief executive officer of Capital Square. Located at 1000 Artistry Drive, the community is located 15 miles from downtown Richmond. Proximate to Highway 288, Artistry at Winterfield offers residents convenient access to multiple retail and dining options within Midlothian, including Target, Kroger, Wegman's, Sam's Club and more. Artistry at Winterfield offers one- and two-bedroom units with spacious floorplans that feature top-of-the-line finishes, including stainless steel appliances, in-unit washer and dryers, walk-in closets as well as private patios and balconies. Amenities at the community include a clubhouse, resort-style swimming pool and fitness center. Additional amenities include a resident lounge with a pool table as well as a business center. CS1031 Artistry at Winterfield Apartments, DST seeks to raise $35.2 million in equity from accredited investors and has a minimum investment requirement of $50,000. Artistry at Winterfield is located in Midlothian, a thriving suburb of Richmond, The population within a five-mile radius of Artistry at Winterfield is projected to increase 4.09% in five years.* Capital Square is bullish on the Richmond MSA, not only for its proximity to our firm's headquarters, but also due to its exceptional market fundamentals and notable growth." Whitson Huffman, chief strategy and investment officer. Since its founding in 2012, Capital Square has acquired 144 real estate assets for over 3,800 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable cash flow and capital appreciation. About Capital Square Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges and qualified opportunity zone funds for tax deferral and exclusion. Since 2012, Capital Square has completed approximately $4 billion in transaction volume. Capital Square's executive team has decades of experience in real estate investments. Its founder, Louis Rogers, has structured hundreds of investment offerings totaling in excess of $5 billion. Capital Square's related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high net worth investors, private equity firms, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for five consecutive years. Additionally, in 2021, the company was ranked 101st on the list of Inc. 5000 Washington D.C. Metro's Fastest-Growing Private Companies. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense's list of fastest growing companies. Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" report in 2019 and 2021 as well as on their "Fantastic 50" reports in 2019 and 2020.

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