REAL ESTATE INVESTMENT

Mill Creek Announces Start of Preleasing at Modera River Trail

Mill Creek Residential | December 18, 2021

Mill_Creek_Announces
Mill Creek Residential, a leading developer and operator specializing in premier rental communities across the U.S., today announced the start of preleasing at Modera River Trail, a contemporary mixed-use apartment community located in the thriving Seattle suburb of Redmond.

The community, which features 233 apartment homes and 4,700 square feet of ground-floor retail, sits approximately 15 miles northeast of Downtown Seattle and will provide residents with prime access to popular Marymoor Park and Lake Sammamish. Built with a modern industrial architectural theme, Modera River Trail will also offer high-quality home finishes, a unique array of common-area attractions and panoramic views of the Puget Sound region. Move-ins will begin in late January.

Redmond has fast become one of the most desirable areas in the Seattle metro, and we are excited to commence preleasing for Modera River Trail, We believe the community will be a unique offering in the area and will serve as the perfect destination for residents to enjoy a work-life balance with a variety of neighborhood attractions within reach. We look forward to offering a best-in-class living experience for our residents."

Steve Yoon, managing director of development in Seattle for Mill Creek Residential

Situated at 15881 NE 85th Street and a short drive north of Redmond Town Center and Marymoor Park, the community is located in a vibrant, emerging downtown area possessing a superb Walk Score of 88 and Bike Score of 91. An abundance of retail, dining and entertainment options are contained within the Redmond Town Center, which is also home to three hotels, several healthcare outlets and a variety of fitness centers. Residents are also within a short walk of the Redmond Transit Center and within close proximity of State Route 520, which connects with Interstates 495 and 5, the gateways to the greater Seattle area and its thriving tech and healthcare employment centers.

Modera River Trail offers studio, one- and two-bedroom homes with loft and den layouts available. Community amenities include a courtyard with barbecue areas, a sixth-floor clubroom with full kitchen, sky lounge with conference room and an expansive rooftop deck. Additionally, a hotel-inspired, two-story lobby includes a self-playing piano, gas fireplace, coffee bar and grand staircase.

Residents will also have access to a HIIT-inspired fitness center with yoga room, pet wash and pet spa, karaoke/movie room, game room with poker and a large-screen TV, rentable storage spaces and Amazon HUB lockers with a large package overflow room.

Apartment interiors at the keyless-access community are equipped with large windows for an abundance of natural light, wood-plank vinyl flooring, Energy Star stainless-steel appliances, gas ranges, quartz countertops, tile backsplashes, two-tone custom cabinetry, in-home washers and dryers, tile shower surrounds and edge-lit bathroom mirrors. Select homes include moveable kitchen islands, custom closets, breakfast bars and green-space views. Residents will also have controlled-access parking and guest technology, electric vehicle charging stations and dedicated bike storage.

About Mill Creek Residential
Mill Creek Residential Trust LLC is a national rental housing company focused on the development, acquisition and operation of rental communities in targeted markets nationwide. The national company, headquartered in Boca Raton, Florida proactively develops, acquires, constructs and operates communities through its seasoned team of real estate professionals in offices across the United States. Mill Creek is building its portfolio in many of the nation's most desirable markets in Seattle, Portland, the San Francisco Bay area, Southern California, Phoenix, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Nashville, Charlotte, Raleigh, Washington, D.C., New Jersey, New York, and Boston. As of September 30, 2021, the company's portfolio is comprised of 111 communities representing over 30,500 rental homes that are operating and/or under construction.

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REAL ESTATE TECHNOLOGY

Nuveen Real Estate Launches Global Impact Investing Sector Focused on Community Revitalization, Resident Well-Being

Nuveen | May 11, 2022

Nuveen Real Estate announced the launch of a comprehensive global impact investing sector that will focus on building the vitality and sustainability of entire communities by enriching the lives of their residents. Nadir Settles will serve as Global Head of Impact Investing and Pamela West as Senior Portfolio Manager, Impact Investing. Nuveen Real Estate is one of the world's largest real estate investment managers with more than $152 billion of assets under management. Building on Nuveen's proven 50-year track record in impact investing, the new global real estate sector will provide strategies that address some of the most pressing social and environmental challenges in the U.S., Europe, and the Asia-Pacific region (APAC), supporting growth goals of up to $15 billion in real estate AUM by 2026. Specifically, the mandate is designed to improve communities by providing supportive services, enhancing residents' quality of life and financial outcomes, and ensuring affordable, sustainable and climate safe housing, while at the same time supporting Nuveen Real Estate's commitment to making its global property portfolio net zero carbon by 2040. Nuveen is a pioneer in impact investing and we are competitively positioned to deliver a market-leading sector globally and at scale. Under Nadir and Pamela's leadership, I am confident that this new sector will address some of the most pressing challenges in local real estate across the globe, while creating an avenue for investors to have a significant impact through their capital investment. I look forward to working with a seasoned team of experts to build on Nuveen's incredible work in the industry." Chris McGibbon, Global Head of Real Estate at Nuveen Expanding Affordable Housing While Regenerating Communities The new real estate impact sector will invest in early-stage projects and take an impact-led approach to increase the supply of social and affordable housing by targeting low-income and disadvantaged populations, while also focusing on regeneration projects within healthcare, education, and transportation services. "By leveraging Nuveen Real Estate's industry expertise, we are going beyond just affordable housing to focus our attention on community revitalization," said Nadir Settles, Global Head of Impact Investing at Nuveen Real Estate. "We see an immediate opportunity to scale our strategy and leverage our leading position in the industry to support tenant well-being and create a more sustainable future. I am honored to have been chosen to lead such a significant sector." Nadir Settles will report directly to Carly Tripp, Global Chief Investment Officer and Head of Investments at Nuveen Real Estate, and lead an international team across the U.S., Europe and APAC in identifying and pursuing relevant real estate impact investments, while growing the overall sector. Settles will also continue to lead investments as Head of New York Office. Pamela West brings 25 years of industry experience, of which nearly a decade has been dedicated to deploying capital into affordable housing strategies and addressing social and environmental issues. She will continue to oversee the framework's strategy, portfolio construction, and client relationships. West reports to Shawn Lese, Chief Investment Officer and Head of Funds Management, Americas at Nuveen Real Estate. Building on Established Impact Track-Record The real estate global impact investing sector builds on Nuveen's overall efforts in impact. Last month, the firm expanded its range of impact investing strategies to Europe with the launch of the German living impact platform, led by portfolio manager Tanja Volksheimer, to deliver social and environmental impact through affordable housing. The news also comes on the heels of the final close of the firm's first global private equity impact platform, which targets investments that promote energy efficiency and an expansion of services for underserved communities. Nuveen made its first investment in impact in the 1980s and has since invested over $500 million in direct and indirect private equity capital across over 200 portfolio companies in alignment with the United Nations Sustainable Development Goals. Today, Nuveen manages over $5.8 billion across all of its public and private markets impact investing strategies. "We have been very intentional about bridging our core competency in real estate with community impact," said Ms. West. "Our portfolio is dedicated to creating change by placing environmental and social impact at the heart of our investment strategy, which ultimately drives better outcomes for residents and inclusive communities while delivering a healthy financial return." The new impact investing sector will add to Nuveen Real Estate's existing sector specialist expertise, ­­­­ including retail, office, housing, industrial, alternatives and debt. Nuveen Real Estate Nuveen Real Estate is one of the largest investment managers in the world with $152 billion of assets under management as of December 31, 2021. Managing a suite of funds and mandates, across both public and private investments, and spanning both debt and equity across diverse geographies and investment styles, we provide access to every aspect of real estate investing. With over 85 years of real estate investing experience and more than 725 employees located across 30 cities throughout the United States, Europe and Asia Pacific, the platform offers unparalleled geographic reach, which is married with deep sector expertise.

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REAL ESTATE INVESTMENT

Embrey Sells The Harper Luxury Apartments In Franklin, Tennessee

Embrey | April 22, 2022

The Harper Luxury Apartments in Franklin, Tennessee, has been sold by Embrey of San Antonio, Texas. The Harper is part of a mixed-use, planned community being developed by SouthStar and Embrey, which are both known for developing highly desirable living and working experiences. It has been a pleasure to be a part of such a well-planned horizontal mixed-use master plan and partnering with SouthStar. Every good development has a great story. This was a very complex transaction and without the collaboration of SouthStar, Gamble Design Collaborative, Kimley Horn Engineers, and HEDK Architects, The Harper could not have been developed." Brad Knolle, Executive Vice President of Development at Embrey The 328-unit property features luxurious interiors such as nine-foot ceilings, open floor plans, granite countertops, large islands and stainless-steel appliances in the kitchen. Community amenities include a resort-inspired pool with cabanas, an elegant clubhouse with a fireplace and a billiards room, a yoga studio and a fully equipped business center. The Harper is scheduled for substantial completion in July 2022 and the one- and two-bedroom units are now leasing. Embrey Management Services, nationally recognized for providing exemplary residential services, has been selected to manage this property. About Embrey San Antonio-based Embrey is a diversified real estate investment company that owns, develops, builds, acquires, and manages multifamily residential communities and commercial assets in targeted markets across the United States. Since 1974, Embrey has developed nearly 43,000 apartments and more than 6 million square feet of commercial property. Embrey is a leading developer in the multifamily sector with more than 4,000 units under construction.

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REAL ESTATE INVESTMENT

Walker & Dunlop Closes GeoPhy Acquisition

Walker & Dunlop | March 01, 2022

Walker & Dunlop, Inc. announced today that it closed on the previously announced acquisition of GeoPhy, a leading commercial real estate technology company. We are excited to officially welcome GeoPhy founder and CEO, Teun van den Dries, and his entire team to Walker & Dunlop. GeoPhy's technology capabilities will allow us to dramatically accelerate the growth of our digitally driven businesses, including Apprise, our tech-enabled appraisal business, and our small balance lending (SBL) platform as we continue to differentiate the Walker & Dunlop platform through our people, brand, and technology." Aaron Perlis, Walker & Dunlop Chief Information Officer. Walker & Dunlop acquired GeoPhy for $85 million in cash paid at closing with an additional $205 million of cash earn-out potential structured to directly align with Walker & Dunlop's Drive to '25 goals surrounding growth in appraisal revenues, SBL volumes, and mortgage banking gains. About Walker & Dunlop Walker & Dunlop (NYSE: WD) is the largest provider of capital to the multifamily industry in the United States and the fourth largest lender on all commercial real estate including industrial, office, retail, and hospitality. Walker & Dunlop enables real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology make us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With over 1,000 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.

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REAL ESTATE TECHNOLOGY

Walker & Dunlop Expands Investment Sales Platform with Veteran Multifamily Advisor

Walker & Dunlop | June 09, 2022

Walker & Dunlop, Inc. announced that it has hired Paul Darrow as Managing Director on its multifamily investment sales platform. Mr. Darrow is based in Los Angeles and is responsible for originating and executing on middle market multifamily property sales throughout Greater Los Angeles. We are excited to continue building out our experienced team in Southern California. The middle market space is a vital segment for private and institutional investors who seek opportunities up and down the price spectrum. Through the addition of Paul and his understanding of both client profiles, we expand our ability to provide best-in-class services to our clients at every price tranche." Blake Rogers,Managing Director Mr. Darrow has over 16 years of experience and has closed over $5 billion of multifamily investment sales during his career. Mr. Darrow stated, "I couldn't be more excited to join Walker & Dunlop having observed its incredible growth over such a short period. Beyond its leadership position in capital markets and investment sales, the firm's leaders have demonstrated an intriguing forward-thinking mindset through their investments in data science, valuations, and analytics. I think those investments will be a huge advantage when it comes to providing actionable insights and opportunities to our clients." Prior to joining Walker & Dunlop, Mr. Darrow served as Senior Director at Marcus & Millichap. Previously, he was Managing Director with Cushman & Wakefield. Mr. Darrow is a member of the National Multifamily Housing Council (NMHC) and the Urban Land Institute (ULI) and is a LEED certified professional. Walker & Dunlop is one of the top multifamily investment sales platforms in the United States and has seen significant growth over the past several years. In 2021, the company grew its property sales volume by 214% year over year to $19.3 billion. For information about multifamily properties available for sale via Walker & Dunlop's investment sales platform, visit our website. About Walker & Dunlop Walker & Dunlop is one of the largest providers of capital to the commercial real estate industry, enabling real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology make us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With over 1,400 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.

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