Lone Wolf and RamQuest partner in gamechanger for real estate transactions and title insurance

Lone Wolf Technologies | May 26, 2020

Lone Wolf Technologies ("Lone Wolf") is pleased to announce that RamQuest has joined Marketplace, Lone Wolf's recently-launched selection of curated tech partnerships for its transaction management solutions, zipForm® Plus and TransactionDesk. This new addition will bring title insurance into zipForm® Plus, the national transaction management member benefit in the U.S., and digitize the entire title ordering process. RamQuest's leading integrated title, closing, and escrow accounting solutions are purpose-built for title and settlement operations, and provide users access to RamQuest's Closing Market, the industry's most extensive network of integrated service providers and partners.

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Telia Company, Lantmäteriet, Chromaway, Kairos Future, the banks SBAB and SEB as well as the Swedish tax agency collaborate on the possibilities of using blockchains as a technical solution for real estate transactions.


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INVESTMENTS

CONTI Capital Pens Another Multifamily Deal in Austin, Texas

CONTI Capital | February 03, 2022

Dallas-based CONTI Capital, a real estate investment company providing capital solutions to acquire, manage, and sponsor real estate investments across the U.S., has acquired Pioneer Hill in Austin, Texas. Austin, known as America's "Silicon Hills," is home to many top, global companies and is arguably one of the leading real estate markets in the nation. Pioneer Hill, a 300-unit new construction asset in northeast Austin, benefits from convenient access to interstate 35 and is less than 10 miles north of Downtown, providing residents access to virtually all of the city's major employment and entertainment drivers. The property is located at 1625 Edgeworth Bend, Austin, Texas 78754. Austin's recent growth has spurred new developments north of the urban core, directly benefiting Pioneer Hill's northeast Austin location. Austin is one of the fastest growing large metros in the country and is #1 on CONTI's top 10 markets for multifamily investment in 2022, The CONTI Index, CONTI Capital's proprietary market evaluation tool, analyzes dozens of weighted indicators covering six primary factors. It is an invaluable tool and, in combination with our dedicated team and investment committee, provides yet another CONTI difference for our investors." Carlos Vaz, CEO of CONTI Capital. The asset is CONTI's first asset in its $150M RE High-Growth Fund IV. The Fund will seek a target return of 10-14% ROI with a 3-5-year hold period. It is structured as a private offering for accredited investors, wealth managers, and institutions. About CONTI Capital Founded in 2008, CONTI is a real estate investment company, investing capital on behalf of individuals, wealth managers, and institutions. Our mission is to create outstanding value for our investors through an active stewardship of their capital. We provide capital solutions to acquire, manage, and sponsor real estate investments across the U.S. Our efforts are backed by years of industry experience, strong company culture, and a relentless drive to perform. In order to better serve our clients, CONTI has offices in Dallas, Miami, and Sao Paulo, Brazil.

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REAL ESTATE TECHNOLOGY

CEDARst Announces Residential Development Project Planned for San Diego's North Park and Hillcrest Neighborhoods

CEDARst | April 01, 2022

CEDARst Companies, a leading multifamily developer, announced plans to bring a new ground-up residential development to San Diego's historic North Park and Hillcrest neighborhoods. We are thrilled to bring our distinct brand of apartments to one of the best submarkets on the west coast. We believe our high-quality and fairly priced apartments will be a fantastic new option for residents of these historic neighborhoods." Will Murphy, Managing Partner and CEO, CEDARst 4135 Park Blvd. is expected to break ground later this month and open its doors 24 months after construction begins. The 205,000 square foot, $74.4 million project includes a 7-story midrise building that will offer a wide range of amenities, including a café, fitness center, spacious lounge, game room, and exterior deck with a pool, hot tub, cabanas, and communal kitchen. 4135 Park Blvd. is in a Qualified Opportunity Zone and is one of several CEDARst properties under contract in the San Diego region. "Opportunity Zones have opened up a unique chance for firms like CEDARst to develop high-quality apartments with top in class amenities at an affordable price point," said Murphy. "We're excited to work in such a dynamic community and look forward to expanding our footprint here in San Diego in the months and years ahead." Bridge Investment Group is an equity partner in the 190-unit project and BMO Harris Bank is the project lender. Construction will be managed by general contractor Suffolk Construction, and the project's architect is Studio E. "We are pleased to continue our partnership with CEDARst in a market like San Diego," said David Coelho, Chief Investment Officer of Bridge Investment Group's Opportunity Zone Funds. "The project fits well within Bridge's mandate to focus on multi-family, transit-oriented developments as an avenue to revitalize underserved communities by investing in building sustainable neighborhoods." CEDARst applies an innovative approach to residential developments with a focus on enhancing resident lifestyles and surrounding communities. Nationally, the firm has amassed a growing portfolio of distinguished and high-quality residential projects, spanning seven states across the country, with a unit count in excess of 5,000. About CEDARst CEDARst Companies is a fully integrated multifamily developer headquartered in Chicago Illinois. With over 50 years of combined experience, CEDARst applies a vertically integrated approach to the development of residential assets. CEDARst's $2 billion portfolio is comprised of more than 5,000 units, offering high quality apartments and a luxury experience at an approachable price point in markets across the country. About Bridge Investment Group Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $36.3 billion of assets under management as of December 31, 2021. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: residential rental, office, development, logistics properties, net lease and real estate-backed credit.

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INVESTMENTS

Lument Provides $16.8 Million to Acquire Affordable Housing Tower in Colorado

Lument | February 04, 2022

Lument recently closed a $16.8 million Fannie Mae DUS® loan to acquire Residences at Franklin Park, a 92-unit affordable multifamily community in Denver, Colorado. Timothy Hoppin, director at Lument, led the transaction. Closing this deal was particularly satisfying, as the loan will allow the sponsor to acquire this 92-unit property and preserve much-needed affordable housing in the Denver area, The sponsor was able to secure a new 20-year Housing Assistance Payment (HAP) contract that will help the community maintain safe, comfortable, and affordable housing." Hoppin The sponsor of the loan is Edgemark, a repeat Lument client and well-established presence in Colorado, Texas, and throughout the Midwest. The property will be managed by Selden Property Management, which currently oversees 17,000 units across Iowa, Kansas, Nebraska, Texas, Illinois, Missouri, and Oklahoma. The Residences at Franklin Park was originally constructed in 1972 and renovated in 2011. The property consists of one 10-story building situated on 0.56 acres, and its 92 units include studios, one-bedrooms, and larger one-bedroom units with dens. All apartments include a full appliance package, laminate countertops, vinyl flooring in kitchen areas, and a private patio or balcony. Group amenities include a community room, laundry facility, and surface parking lot. About Lument ORIX Real Estate Capital Holdings, LLC, d/b/a Lument, is a subsidiary of ORIX Corporation USA. Lument is a national leader in commercial real estate finance. As the combined organization of legacy industry experts Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group, Lument delivers a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA, and USDA lender. In addition, Lument offers a suite of proprietary commercial lending, investment sales, investment banking, and investment management solutions. Securities, investment banking, and advisory services are provided through OREC Securities, LLC, d/b/a Lument Securities, Member FINRA/SIPC. Investment advisory services are provided by OREC Investment Management, LLC, d/b/a Lument Investment Management. OREC Investment Management is registered as an investment adviser with the U.S. Securities and Exchange Commission.

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REAL ESTATE TECHNOLOGY

Marcus & Millichap Closes Eight-Asset Reno Multifamily Portfolio Sale for $302 Million

Marcus & Millichap | April 05, 2022

Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of The ERGS Portfolio, a six-property multifamily portfolio spanning a total of 1,077 units across eight assets. The portfolio traded for $302.5 million, or $280,872 per unit. With this purchase, the buyer establishes a strong presence in Reno’s multifamily market. The tremendous upside potential that can be captured through value-add renovations across the majority of the assets in the portfolio, along with the high-value major employers that can be found in the Tahoe-Reno Industrial Center (TRI Center), made for an extremely attractive acquisition.” Kenneth Blomsterberg, senior managing director investments in Marcus & Millichap’s Reno office Blomsterberg, Ryan Rife and Daniel Winrod represented the seller and procured the buyer. “Over the past five years, the Reno-Sparks region has experienced a rapidly evolving landscape of business development and employment opportunities, and this trend is projected to continue,” added Rife. “Tesla, Apple, Google, Amazon, Blockchain LLC, Switch, and Panasonic are only a few of the major employers that have brought thousands of new jobs to the region. Many of these companies are in the TRI Center, the nation’s largest industrial park, located just a short drive from the ERGS Portfolio.” Built between 1958 and 2021, the assets are: North Peak Apartments, 352 units Silver Lake Apartments, 352 units Sierra Sage Apartments, 232 units Vale Apartments, 40 units Vale Townhomes, 16 units Peavine Peaks, 30 units Oak Manor, 47 units Angel Street Apartments, 8 units “The bulk of the ERGS Portfolio is located in the North Valleys submarket, which is the second-fastest growing employment location in Northern Nevada,” said Winrod. Truckee Meadows Community College is located less than five minutes from the ERGS Portfolio, and the University of Nevada, Reno is nearby. Lake Tahoe, the Black Rock Desert, and North Valleys Regional Park are within a short drive. 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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Spotlight

Telia Company, Lantmäteriet, Chromaway, Kairos Future, the banks SBAB and SEB as well as the Swedish tax agency collaborate on the possibilities of using blockchains as a technical solution for real estate transactions.

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