Real Estate Technology
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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Real Estate Investment
Kimco Realty Corporation | August 25, 2023
Kimco Realty® North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers and a growing portfolio of mixed-use assets, today announced the acquisition of Stonebridge at Potomac Town Center, a 96%-occupied, 504,000-square-foot, grocery-anchored lifestyle center in Woodbridge, Virginia, for $172.5 million.
The center, which has an estimated population of over 230,000 people and an average household income of $125,000 within a five-mile radius, is anchored by a 138,500 square foot Wegmans, one of the state's top-ranking grocers with a trade area of 40 miles, and the only Apple store in the greater trade area. The center's diverse tenant mix features a complementary blend of leading national brands, including REI, Ulta Beauty, Starbucks, Cava, Firebirds Wood Fired Grill, as well as a variety of local shops which include boutique fitness, personal services, restaurants and medical uses.
"We’re excited to add Stonebridge at Potomac Town Center, a premiere grocery-anchored center situated in a high barrier-to-entry location with strong demographics, to our dynamic portfolio,” said Ross Cooper, Kimco’s President and Chief Investment Officer. “This center boasts a robust growth profile that will complement and solidify Kimco’s position as the leading retail player in the suburban Washington D.C. market.”
This acquisition presents a variety of growth prospects, including the potential to develop three outparcel retail buildings, increase density through mixed-use development, and enhance the existing merchandising mix through the recapture of below market leases.
Strategically located at the intersections of I-95, Dale Boulevard, Route 1, and Opitz Boulevard, the center benefits from 5.5 million annual visits, ranking in the 97th percentile nationally. Construction of a municipal park and ride garage adjacent to the center demonstrates continued government investment in the area and is expected to drive additional traffic upon its completion in mid-2024.
About Kimco Realty
Kimco Realty is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers and a growing portfolio of mixed-use assets. The company’s portfolio is primarily concentrated in the first-ring suburbs of the top major metropolitan markets, including those in high-barrier-to-entry coastal markets and rapidly expanding Sun Belt cities, with a tenant mix focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Kimco Realty is also committed to leadership in environmental, social and governance (ESG) issues and is a recognized industry leader in these areas. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value enhancing redevelopment activities for more than 60 years. As of June 30, 2023, the company owned interests in 528 U.S. shopping centers and mixed-use assets comprising 90 million square feet of gross leasable space.
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Agent, Real Estate Investment
Businesswire | August 03, 2023
SmartRent, Inc. (“SmartRent” or the “Company”), the leading provider of smart home and property operations solutions for the rental housing industry, has expanded its product line to include the innovative Smart Package Room® system — a true smart package management solution — that transforms package visibility, reduces labor demands, optimizes storage space and enhances resident satisfaction.
Smart Package Room® complements SmartRent’s smart home line, expands the Company’s product offerings and solves a long-standing pain point for rental housing operators. Using patented, proprietary advanced package tracking technologies, the comprehensive Smart Package Room® solution guides couriers through the package log-in process and automatically directs residents to their packages, relieving the package burden from on-site associates.
“Smart Package Room is the logical next addition to SmartRent’s ecosystem of smart home and operations solutions, and is enhanced by existing SmartRent products like Alloy Access and Work Management,” said SmartRent CEO Lucas Haldeman. “The rental housing industry has long been searching for a response to the increasing package volume and scale arriving at properties on a daily basis. Smart Package Room solves for many of the package issues facing the industry while modernizing the renter experience. With this offering, we continue to drive meaningful change for the industry.”
SmartRent has entered into a preferred reseller partnership with Position Imaging, the creator of Smart Package Room®, to bring this new package management innovation to the rental housing industry at scale. “We chose SmartRent to partner with because of their vision for how smart technology can transform the rental housing industry,” said Position Imaging CEO Ned Hill. “Our Smart Package Room solution fits perfectly with their focus and product line and we are thrilled to have them as a reseller and partner.”
As part of this partnership, Position Imaging’s Senior Vice President Sales, Matt Haynes, and two members of his sales team at Position Imaging are joining SmartRent to lead Smart Package Room® sales. A seasoned sales veteran, Haynes brings more than two decades of multifamily experience to the team. Prior to his role at Position Imaging, he served as vice president of sales at Parcel Pending and, earlier in his career, was vice president of sales for Rentlytics.
About SmartRent
Founded in 2017, SmartRent, Inc. is a leading provider of smart home and smart property solutions for the multifamily industry. The company’s unmatched platform, comprised of smart hardware and cloud-based SaaS solutions, gives operators seamless visibility and control over real estate assets, empowering them to simplify operations, automate workflows, benefit from additional revenue opportunities and deliver exceptional site team and resident experiences. SmartRent serves 15 of the top 20 multifamily owners and operators, and its solutions enable millions of users to live smarter every day.
About Position Imaging
Founded in 2006, Position Imaging is a tracking technology pioneer, having developed some of the world’s most advanced innovations focused on improving package and product fulfillment throughout the first and last mile delivery chain. The company created the Smart Package Room® system to take the friction out of package management for multi-family residences and corporate campuses and today it is recognized as the most efficient, intuitive self-service package fulfillment platform in the world.
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Real Estate Technology, Mortgage and Lending
Globenewswire | July 05, 2023
8Twelve Financial Technologies Inc. (“8Twelve” or the “Company”) is delighted to announce a strategic partnership with Lotly, a trailblazer in shared equity programs. This collaboration aims to empower potential home buyers, making homeownership more accessible through Lotly's innovative shared equity program.
8Twelve's state-of-the-art INFIN8 platform, which employs real-time analytics, AI, and workflow automation, will be instrumental in this partnership. It will help identify the best possible mortgage from Canada’s largest marketplace of bank, alternative, and private mortgage products, thereby reducing the financial barriers to homeownership.
"Lotly's commitment to making homeownership more accessible aligns perfectly with our mission at 8Twelve," said Gary Fooks, the CEO of 8Twelve. "Our technology, combined with Lotly's shared equity program, will provide a unique solution to the financial challenges of home buying. This partnership ensures that we can help more people realize their dream of homeownership."
Lotly is renowned for its innovative approach to home buying, offering a portion of the home's purchase price in exchange for a share of the home's future value. This reduces the upfront costs for home buyers, making homeownership more accessible. And with Lotly, home buyers always retain the majority of their property’s appreciation, clearing the path to meaningful wealth generation through homeownership.
"With the current economic climate and the challenges of the housing market, potential homeowners need to be aware of all their financing options," said Martyna Gatkiewicz, the CEO of Lotly. "This partnership underscores the strength of our shared equity program and 8Twelve's technology in enabling us to deliver the best financing solutions to our clients."
8Twelve is experiencing growing interest and user success with its offerings as home buyers seek innovative ways to assist with their home purchase. 8Twelve's secure, smart technology is capable of providing swift turnarounds and exceptional service levels to home buyers as it strives to offer a solution for every borrower situation.
About Lotly
Lotly is a pioneer in shared equity programs, offering a unique solution to the financial challenges of home buying. The company's innovative program reduces the upfront costs for home buyers, making homeownership more accessible. Lotly’s investment funds are crowdfunded from real estate investors of all levels. Meaning, home buyers and investors tap into the market together, a first of its kind win-win solution in Canada. For more information, visit www.lotly.com.
About 8Twelve Financial Technologies
8Twelve is revolutionizing the home financing experience by providing consumers with one convenient platform to solve all their mortgage needs. No longer do borrowers need to search for a mortgage through multiple providers such as banks, mortgage brokers, and private lenders. Now, they can access Canada's largest selection of mortgages in one convenient marketplace. 8Twelve’s proprietary cloud platform INFIN8 utilizes real-time analytics, AI, and workflow automation to identify the best possible financing solution in the Canadian market (from over 65 lenders and over 7000 mortgage products).
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