Ireland Home Rents Appreciate at Slowest Rate in 6 Years

Daft.ie | November 12, 2019

According to the latest quarterly Rental Report by Daft.ie, residential rents rose by an average of 5.2% nationwide in the year to September 2019. This marks the lowest rate of rental inflation across the country since the second quarter of 2013. However, at €1,403, the average monthly rent nationwide during the third quarter of 2019 marks the fourteenth consecutive quarter of record rents. The average listed rent is now €373 per month higher than the previous peak in 2008 and almost €660 higher than the low seen in late 2011.

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Getting leads is just part of the deal. A lot of the work in real estate involves talking to leads. In this video, Mike breaks down how to talk to leads beyond scripts, beyond staying focused on the transaction, good communication involves building rapport and projecting confidence. Increase your real estate lead conversion rate by applying these techniques.


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REAL ESTATE TECHNOLOGY

Green Courte Partners Hires Managing Director of Development

Green Courte Partners, LLC | March 10, 2022

Green Courte Partners, LLC, a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced that it has hired C.R. Russell as Managing Director of Development. In this role, Mr. Russell will oversee all development and construction activities for Green Courte's investments in Windward Communities, True Connection Communities, and The Parking Spot, Green Courte's land-lease community, senior housing, and near-airport parking companies, respectively. Mr. Russell is replacing John Lyons, who retired in February after being with Green Courte and The Parking Spot since 2010. Prior to joining Green Courte, Mr. Russell was a Senior Vice President of Development and Construction at A.J. Capital Partners, a vertically integrated developer with $3.6 billion in real estate investments across 45 markets. In that role, Mr. Russell oversaw the planning and development efforts of $1.2 billion of high-profile hospitality and mixed-use developments comprising nearly 2.6 million square feet of space. Earlier in his career, Mr. Russell held several management roles at Vail Resorts Development Company on behalf of Vail Resorts, Inc., the largest owner and operator of mountain resort properties. At Vail, Mr. Russell was responsible for the company's mountain development team as well as expansion efforts across its entire portfolio of properties. Mr. Russell holds a Bachelor of Arts in Environmental Policy from Rollins College and a Master of Business Administration from Northwestern University's J.L. Kellogg Graduate School of Management. We are thrilled to welcome C.R. to our team, and we look forward to leveraging his diverse skillset and expertise to further expand and improve Green Courte's development efforts across our three active platforms." David B. Lentz, Green Courte's Chief Executive Officer About Green Courte Partners, LLC Green Courte Partners, LLC is a Chicago-based private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, including active adult/independent senior living properties, land-lease communities, and near-airport parking facilities. The firm combines focused investment strategies with a disciplined approach to transaction execution, operations, and asset management. Green Courte's goal is to invest in high-quality real estate assets that will generate attractive risk-adjusted returns over a long-term holding period.

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REAL ESTATE INVESTMENT

EMPIRE STATE REALTY TRUST SIGNS PROGYNY, INC. FOR 70,573 SQUARE FEET ACROSS THREE FULL FLOORS AT 1359 BROADWAY

Empire State Realty | March 03, 2022

Empire State Realty Trust, Inc. (NYSE: ESRT) today announced a new lease with Progyny, Inc. a leading fertility benefits management company, at 1359 Broadway. Progyny has committed to occupy 70,573 square feet across three floors, which includes one floor that it previously subleased, one floor that Progyny will occupy in late 2022 and a third floor that they will occupy in early 2024. We are growing rapidly as more and more employers recognize the value of Progyny's comprehensive fertility and family building solution, We look forward to expanding our presence in our corporate office in New York City with Empire State Realty Trust." Pete Anevski, CEO of Progyny. Located along the updated Broadway Pedestrian Plaza, 1359 Broadway offers convenient access to major transportation hubs, subway lines, dining, lodging, and shopping. The fully modernized office building features industry-leading energy efficiency and indoor environmental quality measures at a fraction of the cost of newer buildings. Our premier indoor environmental quality measures and energy-efficient practices continue to attract high-quality tenants who appreciate our value proposition, Progyny is a welcome addition to our excellent tenant roster at 1359 Broadway after a successful sublease." Thomas P. Durels, executive vice president, real estate at Empire State Realty Trust. David Falk, Kyle Ciminelli, and Dylan Weisman of Newmark Knight Frank represented Progyny, Inc. in the lease negotiations. Property owner representation was provided by Shanae Ursini and Jordan Berger of ESRT, and Paul J. Amrich, Emily Chabrier, Neil V. King III, and Meghan Allen of CBRE. About Empire State Realty Trust Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and manages a well-positioned property portfolio of office, retail, and multifamily assets in Manhattan and the greater New York metropolitan area. Owner of the Empire State Building, the World's Most Famous Building, ESRT also owns and operates its iconic, newly reimagined Observatory Experience. The company is a leader in healthy buildings, energy efficiency, and indoor environmental quality, and has the lowest greenhouse gas emissions per square foot of any publicly traded REIT portfolio in New York City. As of Dec. 31, 2021, ESRT's portfolio is comprised of approximately 9.4 million rentable square feet of office space, 700,000 rentable square feet of retail space and 625 units across two multifamily properties.

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REAL ESTATE INVESTMENT

MWest Holdings Acquires Newly Constructed Class-A Long Beach Apartment Community

MWest Holdings | February 28, 2022

MWest Holdings, a Los Angeles-based real estate company with over 2 million square feet of residential and commercial property across the U.S., announced today that it has acquired 442 Residences, a five-story, 94-unit multifamily asset in Downtown Long Beach. We are thrilled to expand our California portfolio in the Long Beach submarket. With a prominent location in a growing metropolitan market, nearby business centers, and public transportation, 442 Residences provides quality housing for this dynamic area. It also has abundant outdoor amenity spaces and refined interiors that are attractive to residents of the community." Karl Slovin, President of MWest Holdings. Built in 2019, 442 Residences is comprised of studio, one- and two-bedroom loft-style units ranging from 524 to 1,043 square feet, with 9'9" to 11'1" ceiling heights, oversize balconies and wrap-around outdoor terraces, designer kitchens, washer and dryers, keyless entry doors, and smart thermostats. Residents have access to an array of high-end amenities including an ocean view roof deck, outdoor movie lounge, a hotel-inspired lobby, outdoor yoga and cardio areas, a state-of-the-art fitness studio, secure underground parking with EV charging stations, and an onsite bike share and e-scooter hub. Located in the center of Downtown Long Beach, 442 Residences is well-positioned in a walkable neighborhood with a variety of nearby shopping and dining options, and a thriving area for business. It is directly across from the new Long Beach Civic Center, home of City Hall, Port of Long Beach headquarters, and the Main Library. About MWest Holdings. MWest Holdings is an experienced real estate company with over 2 million square feet of residential and commercial property across the United States. Founded in 1991, MWest is known for creating innovative development solutions that instill a sense of neighborhood and integrity and create a lasting, tangible value. As a highly successful and stable owner of real estate, MWest has continually employed sound business practices, low leverage, and stringent underwriting guidelines for each investment opportunity. The company's success is anchored in a philosophy that imagination is the only limiting factor to growth.

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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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Spotlight

Getting leads is just part of the deal. A lot of the work in real estate involves talking to leads. In this video, Mike breaks down how to talk to leads beyond scripts, beyond staying focused on the transaction, good communication involves building rapport and projecting confidence. Increase your real estate lead conversion rate by applying these techniques.

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