Global Payments to add 200-plus jobs in Atlanta area expansion

Savills Studley | August 12, 2016

Financial technology company Global Payments on Friday said it plans to add more than 200 jobs in the region as part of a broader shift in its Atlanta area footprint.

Spotlight

The ongoing near zero-interest rate environment in most industrialized nations poses a variety of challenges to private and institutional investors. On the one hand, traditional fixed-income investments do not provide the desired yield levels as they did in the past. On the other, when composing an investment portfolio, it must be remembered that it should also perform robustly in an environment that is characterized by less ample monetary liquidity even if the current situation will remain for some time.


Other News
REAL ESTATE TECHNOLOGY

Curbio Expands into the Jersey Shore with Fix Now, Pay Later Home Improvement Solution

Curbio | July 07, 2022

Curbio, Inc., the leading fix now, pay-at-closing home improvement solution for real estate agents and their clients, today announced that it has expanded its services into the Jersey Shore area of New Jersey. This expansion includes Tom's River, Atlantic City, Cape May, and the surrounding areas. Curbio is a groundbreaking PropTech solution that has set out to transform the way that real estate agents, brokerages, and their clients get listings ready for market. Curbio's expertise in pre-listing home improvements, combined with its proprietary technology, enable the company to complete pre-listing updates of any size efficiently and reliably, so that realtors and their clients can sell their home for more without the hassle of traditional home improvement. Curbio takes care of all sourcing, project management and communication, and acts as the licensed, insured general contractor on all projects. The company does not have any project minimums or maximums, making their pay-at-closing solution ideal for listings of any size. From basic listing preparations to whole home makeovers, Curbio helps any listing become market-ready quickly and reliably. "We couldn't be more excited to be bringing Curbio to the Jersey Shore. Buyers in the Jersey Shore want move-in-ready homes, and Curbio is here to help with that. We are the only completely turnkey pre-listing home improvement solution that allows real estate agents and their clients to update their listings and sell for more, without taking on the stress of traditional home improvement. Plus, homeowners don't pay any cash until the home sells, with zero interest, fees, or premiums," said Olivia Mariani, VP of Marketing at Curbio. This is the seventh new-market expansion for Curbio this year, following their launches in Nashville, Tenn., Richmond, Va., Wilmington, Del., Charlotte, N.C., Virginia Beach, Va., and Raleigh, N.C. The company now serves 31 markets across the United States. About Curbio Curbio was founded in 2017 to transform the multi-billion-dollar home improvement industry and has quickly become the nation's leading pay-at-closing home improvement solution. The company partners exclusively with real estate agents and their clients to get any home ready for the market, allowing it to sell faster and for top dollar. Using technology to power their service, Curbio completes pre-listing home improvement projects of any size quickly and without hassle, from start to finish, with zero payment due until the home sells. Curbio is trusted by thousands of realtors and brokerages nationwide, and has been continuously recognized for its exemplary solution, receiving nods in HousingWire, Qualified Remodeler and Comparably, to name a few.

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REAL ESTATE TECHNOLOGY

Yardi Bringing Clients Property Management Software Innovation in Person

Yardi | June 10, 2022

Yardi is excited to welcome clients back in-person to the Yardi Advanced Solutions Conference (YASC) this summer, marking a return to real time after successful interactive virtual events over the last two years. YASC, scheduled for Aug. 31 – Sept. 2 in San Diego, combines classroom learning with networking and entertainment in a beautiful seaside setting. More than 280 classroom sessions and dozens of product experts will give thousands of professionals in attendance insight into Yardi software solutions that improve efficiency in marketing, leasing, acquisition, energy management, investing and other real estate operations. Panel sessions will examine key industry trends. Exclusive live outdoor entertainment and fun social activities comprise other elements of a memorable experience at the Manchester Grand Hyatt San Diego, the new host resort on San Diego's waterfront. We're proud that our clients continued to gain value from virtual gatherings but there's nothing like meeting face-to-face with colleagues. Our software is designed to connect people and communities, and we look forward to continuing that effort in San Diego." Kevin Yardi, the company's vice president of global solutions Virtual YASC events will continue on an annual basis, with dates for 2023 to be announced soon. Ready to join a conference that will provide immediate takeaways? Sign up to attend YASC San Diego and see what's planned for regional in-person YASCs around the world in 2022. About Yardi Yardi develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. With 8,000 employees, Yardi is working with our clients globally to drive significant innovation in the real estate industry.

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REAL ESTATE TECHNOLOGY

Institutional Property Advisors Closes Sale of $96 Million Downtown Tempe Multifamily Asset

Institutional Property Advisors | May 18, 2022

Institutional Property Advisors, a division of Marcus & Millichap, announced the sale of Hudson on Farmer, a 171-unit boutique apartment asset in Downtown Tempe, Arizona. The property traded for $96 million, which represents $561,404 per unit. Hudson on Farmer is supported by a highly educated population of over 620,700 working professionals throughout 16 major employment corridors within a 10-mile radius. Tempe’s outstanding demographics include average and median annual household incomes of $85,200 and $61,500, respectively.” Steve Gebing, IPA executive managing director Gebing and IPA executive managing director Cliff David represented the seller, 8th & Farmer Owner LLC, and procured the buyer, Ideal Capital Group. “Tempe is one of the best suburbs in Arizona for young professionals and this ambitious demographic has long been a key source of the city’s success,” added David. Hudson on Farmer’s Mill Avenue District location places it in the geographical center of Greater Phoenix, close to ASU and steps from the city’s only Whole Foods Market. Downtown Tempe has a mix of treelined walkways and large office developments, including 20-acre, 2-million-square-foot Marina Heights, and Hayden’s Ferry Lakeside, a master-planned mixed-use development with 1.6 million square feet of office, retail and residential space. Major employers near Hudson on Farmer include State Farm, ADP, Silicon Valley Bank, and Microsoft. There is 18.5 million square feet of lifestyle amenities in close proximity, namely Tempe Marketplace, Mesa Riverview, and Sloan Park, the spring training home of the Chicago Cubs. Completed in 2021, six-story Hudson on Farmer has open-concept apartment homes with full-size front-load washers and dryers, walk-in showers, and private balconies. The exclusive sixth floor has distinctive cabinetry with undermount lighting, premium closets, and reserved parking. The property’s common area accommodations include a resort-inspired, heated swimming pool and spa and second-story resident lounge with social space, a conference room, and workspaces accented by modern art and natural wood décor. The landscaped courtyard, with a covered outdoor dining area, barbecue grills, firepit, desert vegetation and misting system gives residents an added venue for entertaining. Additional community amenities include a fitness center, bike parking room and electric vehicle charging stations. About Institutional Property Advisors (IPA) Institutional Property Advisors (IPA) is a division of Marcus & Millichap, a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. About Marcus & Millichap, Inc. Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion.

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REAL ESTATE TECHNOLOGY

Faropoint Sells Portfolio of 109 Institutional-Quality Last-Mile Warehouses For $481M

Faropoint | July 06, 2022

Faropoint, a leading real estate investment firm focused on last-mile industrial properties in high population growth markets, today announced the sale of 109 institutional-quality, last-mile logistics buildings to a private buyer for $481 million. The portfolio consists of 6.8 million square feet of warehouse space largely concentrated in Atlanta, Philadelphia, Houston and Memphis. The close of this portfolio sale in the current market climate further demonstrates Faropoint’s successful strategy as an aggregator of individual warehouses in growth markets across the U.S. The firm leverages a proprietary origination platform to collect data from its team of investment professionals across nine U.S. offices. This curation of data arms Faropoint with actionable insights and analytics to identify mostly off-market opportunities to acquire last-mile industrial buildings. “This deal marks one of the largest portfolio sales of last-mile urban logistics centers in recent years and positions Faropoint to continue to provide significant value to its investors through its last-mile industrial funds,” Faropoint Chief Relations Officer Raz Rahamim The 109-building portfolio includes multi-tenant warehouse and light industrial properties, with each building averaging 62,000 square feet. The portfolio is 98 percent leased and occupied by approximately 200 local, regional and national tenants. During the firm’s 3-year hold period, Faropoint executed 120 leases across the portfolio, significantly increasing NOI and lease commitments. “Our firm is extremely bullish about last-mile industrial and we are optimistic that fundamentals will remain strong in this segment of the market long-term due to constrained supply,” said Faropoint Chief Investment Officer Ohad Portat. “We will continue to closely monitor market conditions and adjust our strategy as needed in response to macroeconomic trends and future volatility.” This disposition follows a record-breaking year of activity in 2021, during which time Faropoint acquired 148 buildings in 85 separate transactions. “Transacting at such a high volume across nine offices and aggregating data from thousands of deals allows our team to act with much more accuracy and certainty when vetting and underwriting deals.” said Faropoint Chief Executive Officer Adir Levitas. “As the current macroeconomic climate evolves, we will continue to assess market conditions, and are well-capitalized to act when the right opportunities present themselves.” Eastdil Secured advised Faropoint on the sale and financing of the portfolio, and Duval & Stachenfeld LLP served as legal advisor. About Faropoint Faropoint is a vertically integrated, data-driven real estate investment manager that leverages data and deep market relationships to achieve superior risk-adjusted returns. Faropoint targets inefficiencies in the marketplace that can be solved with technology and scaled to create meaningful positions using cutting-edge, proprietary, real estate underwriting and portfolio management methods. The company invests in markets with strong demographics and high construction barriers to entry, such as Atlanta, Dallas, Philadelphia, Northern New Jersey, Chicago, Tampa, Miami, and Memphis. Faropoint currently owns and manages more than 20 million square feet of industrial assets. About Eastdil Secured As the most relevant and trusted advisor in the commercial real estate capital markets, Eastdil Secured creates value for clients through creative, actionable ideas and flawless execution. With an unrivaled combination of capital markets expertise and in-depth understanding of real estate fundamentals, Eastdil Secured delivers best-in-class advice on mergers and acquisitions, sales, joint ventures, debt placement, structured credit and loan sales to investors around the world. Headquartered in New York, Eastdil Secured has a broad global footprint to support clients with offices across the United States in Atlanta, Boston, Charlotte, Chicago, Dallas, Los Angeles, Miami, Orange County, San Francisco, Seattle, Silicon Valley and Washington, D.C., and internationally in London, Paris, Frankfurt, Milan, Dublin, Dubai, Hong Kong and Tokyo.

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Spotlight

The ongoing near zero-interest rate environment in most industrialized nations poses a variety of challenges to private and institutional investors. On the one hand, traditional fixed-income investments do not provide the desired yield levels as they did in the past. On the other, when composing an investment portfolio, it must be remembered that it should also perform robustly in an environment that is characterized by less ample monetary liquidity even if the current situation will remain for some time.

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