Mortgage Rates Start to Rise in U.S.

Freddie Mac | April 12, 2019

According to Freddie Mac's latest Primary Mortgage Market Survey, U.S. mortgage rates rose modestly this 2nd week of April 2019, with the 30-year fixed-rate averaging 4.12 percent.
Sam Khater, Freddie Mac's chief economist, says, "Rates moved up slightly this week while mortgage applications decreased following last week's jump in rates - indicating borrower sensitivity to changing mortgage rates. Despite the recent rise, we expect mortgage rates to remain low, in line with the low 10-year treasury yields, boosting homebuyer demand in the next few months."

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Market pulse is what the realtors are seeing and saying. It also includes open house traffic, appointments presentations, office floor calls, all cash purchases. These are market conditions compared to a month ago.


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REAL ESTATE ADVICE

Sales of The Residences at Mandarin Oriental, Honolulu Resume

Harold Clarke Advisors | March 09, 2022

Mana'olana Partners, the ownership entity of Mandarin Oriental Hotel and Residences, Honolulu established by Los Angeles-based Salem Partners, has resumed sales of The Residences at Mandarin Oriental, Honolulu after placing its efforts on hold during the COVID-19 pandemic. A new residence gallery is now open and welcoming guests by appointment. As restrictions continue to ease and we see the return of international travel, we believe it is the perfect time to resume sales. We've been pleased with the interest ahead of our official relaunch and look forward to continuing to build momentum." James Ratkovich, Co-Managing Partner of Mana'olana Partners The Residences features 99 private homes that offer an unprecedented lifestyle made possible by the Mandarin Oriental's legendary service coupled with Hawai'i's boundless natural beauty. The property, located at the nexus of Ala Moana and Waikīkī, will be Mandarin Oriental's first residential concept on O'ahu and the brand's only hotel operated on the island. "There is nothing else like The Residences available in Hawai'i," added Ratkovich. "The return of The Mandarin Oriental brand to Honolulu will offer luxury and hospitality unmatched in the world." Residents will enjoy the advantages of bespoke hotel living, including personalized five-star service, exclusive amenities available only to owners and an attentive concierge team dedicated to delivering authentic experiences of Hawai'i. Michelin-level dining, Mandarin Oriental's world-renowned spa treatments, and world-class shopping, dining, and entertainment make every imaginable convenience within steps of The Residences. The Residences at Mandarin Oriental, Honolulu is designed by a premier team, including [au]workshop architects+urbanists, Honolulu-based AHL, Meyer Davis, Dianna Wong, Hart Howerton, Fluidity Design and Molteni&C Dada. Harold Clarke Advisors, foremost ultra-prime real estate industry experts in Hawai'i, is leading sales and marketing for the project. About Mana'olana Partners Mana'olana Partners is the ownership entity of the Mandarin Oriental Hotel and Residences, Honolulu established by real estate development firm Salem Partners. Founded in 1997, Salem Partners comprises three platforms: investment banking, real estate development, and wealth management. Salem's investment bankers have completed billions of dollars of transactions in the media and entertainment, healthcare and life sciences, aerospace and defense, and real estate industries. Real estate development is headed by industry veterans experienced in all segments of the built environment. About Mandarin Oriental Hotel Group Mandarin Oriental Hotel Group is the award-winning owner and operator of some of the world's most luxurious hotels, resorts, and residences. Having grown from its Asian roots into a global brand, the Group now operates 36 hotels and seven residences in 24 countries and territories, with each property reflecting the Group's oriental heritage and unique sense of place. Mandarin Oriental has a strong pipeline of hotels and residences under development and is a member of the Jardine Matheson Group.

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REAL ESTATE INVESTMENT

Cadre Hires Dustin Cohn as CMO to Boost Awareness of Commercial Real Estate Among Main Street Investors

Cadre | April 21, 2022

Cadre, the technology-driven commercial real estate investment platform, announced the hire of Dustin Cohn as Chief Marketing Officer to continue driving awareness around the accessibility and advantages of real estate investing. With decades of experience across brand development and performance marketing, Cohn will report to Cadre Founder and CEO Ryan Williams to support Cadre's mission of democratizing commercial real estate (CRE) investing, a traditionally exclusive asset class. According to a recent survey, 73% of consumers earning $75k - $500k are interested in CRE, but only 14% are invested in it.1 This may be due to a number of misconceptions about the asset class. Many consumers assume CRE is exclusive to the ultra wealthy, institutions, or requires at least $100k to invest. There is also a knowledge gap about the benefits CRE can provide – by and large, consumers are worried about inflation (86%), they want to diversify their portfolios (68%), but many do not recognize CRE's potential for inflation-hedging or historically high risk-adjusted returns.2 Cadre, now with the help of Cohn, is working to dispel misconceptions by providing and promoting unprecedented access to CRE. At Cadre, we are keen to educate individuals about the financial opportunities the commercial real estate market can provide. I founded Cadre to serve those typically excluded from accessing high-quality assets and opportunities to build wealth. Dustin's proven experience reaching individuals and raising awareness is unparalleled, and I am eager to work with him as we bring the transparency, accessibility and liquidity of our platform to more people." Ryan Williams, Cadre Founder and CEO Cohn joins Cadre following its most successful quarter to date, as platform users rose by more than ~20% and the firm raised nearly as much capital from individual investors as it had throughout all of 2021. Cohn's experience helping consumers access wealth-building tools will help build off that momentum. Prior to Cadre, Cohn served as Head of Brand and Marketing for Marcus and Wealth Management at Goldman Sachs, leading the development of the Marcus brand—notably inventing its name—and launching a number of firsts for the storied firm, including its first-ever consumer advertising campaign and athlete sponsorship. He also led brand and marketing efforts for the firm's Asset Management division. "Cadre's platform already disrupted the status quo by giving individuals access to institutional-quality real estate," stated Cohn. "Commercial real estate is no longer just for the uber wealthy and institutions. For many consumers, the remaining barrier is simply awareness. A modern wealth-building tool is already available to individual investors right now, a few clicks away. I am honored to join the firm's mission to not only deliver this access, but also educate more investors that it exists." Cohn also has experience leading marketing for a number of global consumer brands. Prior to joining Goldman Sachs, he served as CMO for Jockey International, CMO for Optimer Brands, and spent several years at PepsiCo as Marketing Director for Gatorade and Propel. About Cadre Cadre is a groundbreaking technology-driven commercial real estate investment platform that offers both institutional and individual investors the opportunity to access expertly curated real estate assets with lower minimums, low fees, and unprecedented potential for liquidity. Via its data-driven and transparent approach, Cadre opens participation in a historically opaque and illiquid asset class. Along with its traditional investment offerings, Cadre also provides investors with the ability to pursue highly vetted commercial real estate opportunities and the opportunity to seek liquidity through its proprietary secondary market, a unique offering within the industry. Since Cadre's founding, Cadre has closed more than $4.5 billion in real estate transactions across 23 U.S. markets and delivered an 18+% average net IRR across all completed property sales,3 resulting in the return of more than $300 million of capital to Cadre investors to date.

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REAL ESTATE TECHNOLOGY

Related Companies in Conjunction with Atria Senior Living and Welltower Close on Strategic Partnership for two Silicon Valley Developments

Welltower Inc. | March 07, 2022

A joint venture between Related Companies and Atria Senior Living, in conjunction with Welltower Inc., this quarter signed a strategic partnership to develop two world class senior living communities in Silicon Valley, one in Santa Clara, CA (Santa Clara Development) and the other in Cupertino, CA (Cupertino Development), as part of a larger strategic partnership among the three companies. The Related|Atria JV was formed in 2018 to develop, own and operate modern urban communities catering to seniors living in major metropolitan areas. The Santa Clara and Cupertino Developments will be the third and fourth locations for the joint venture's new series of upscale senior living communities after the newly opened Coterie Cathedral Hill at 1001 Van Ness in San Francisco and Coterie Hudson Yards at 451 10th Avenue in New York City which will open later in 2022. The 191-unit Santa Clara Development is immediately adjacent to a larger fully entitled 9.2 million square foot urban development by Related who commenced entitlement and pre-development work on the urban plan in 2015. Related Santa Clara will create an unparalleled new mixed-use downtown for Silicon Valley, consisting of traditional office and medical office buildings, hotel rooms, multifamily housing and retail amenities. At the apex of Silicon Valley and the growing East Bay, the Santa Clara Development is conveniently located to numerous commuting options, including a wide variety of public transit and proximity to Highways 237, 101 and Interstate 880. The senior living development is expected to break ground mid- 2022 with completion projected by 2024. Pre-development of the 158-unit Cupertino Development began in 2019 with plans of construction start by the end of 2022 and completion in 2024. Situated on a well-located corner of Stevens Creek Boulevard, Cupertino's major thoroughfare and State Route 85, as well as adjacent to the Cupertino Senior Center, Cupertino Memorial Park, and De Anza College, this development will grant seniors unrivaled access to the best of Cupertino's amenities with convenient connectivity to Silicon Valley. The Cupertino Development will also include an outdoor community park. About Welltower Welltower Inc., an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. Welltower, a real estate investment trust (REIT), owns interests in properties concentrated in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing and post-acute communities and outpatient medical properties. More information is available at welltower.com. We routinely post important information on our website at welltower.com in the "Investors" section, including corporate and investor presentations and financial information. We intend to use our website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Such disclosures will be included on our website under the heading "Investors." Accordingly, investors should monitor such portion of the company's website in addition to following our press releases, public conference calls and filings with the Securities and Exchange Commission. The information on our website is not incorporated by reference in this press release, and our web address is included as an inactive textual reference only. About Related Companies Related Companies is a global real estate and lifestyle company defined by innovation and the most prominent privately-owned real estate firm in the United States. Formed over 45 years ago, Related is the largest private owner of affordable housing and a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi and London, and boasts a team of approximately 4,000 professionals. Related was recently named to Fast Company Magazine's list of the 50 Most Innovative Companies in the World. About Atria Atria Senior Living is a leading operator of independent living, assisted living, supportive living and memory care communities in more than 400 locations in 45 states and seven Canadian provinces. With the addition of Holiday Retirement to its portfolio in 2021, Atria is now the residence of choice for more than 43,000 older adults, and the workplace of choice for more than 17,000 employees. In 2022, J.D. Power ranked Atria #1 in customer satisfaction among assisted living and memory care communities. Atria creates vibrant communities where older adults can thrive and participate, know that their contributions are valued, and enjoy access to opportunities and support that help them keep making a positive difference in our world. Atria operates seven distinct senior living brands: Coterie a luxury brand in a joint venture with Related Companies, Atria Signature, Atria Senior Living, Atria Park, Holiday Retirement, Atria Retirement and Gladwell. Atria's subsidiary, Glennis Solutions, is the only fully integrated cloud-based software suite specifically designed to serve the senior housing industry.

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INVESTMENTS

Morgan Stanley, Embrey to Relocate Offices To Embrey's Premier 7600 Broadway Development

Embrey | January 31, 2022

Morgan Stanley and Embrey will relocate their current offices in San Antonio, Texas, to Embrey's premier mixed-use development, 7600 Broadway, bringing the office building to 100 percent occupancy. Morgan Stanley will occupy 28,000 square feet while Embrey will move its corporate headquarters into the remaining 25,000 square feet. Tenant buildout has begun immediately with occupancy expected in the summer of 2022. Embrey has designed a unique living and working experience at 7600 Broadway with the highest quality of design and attention to detail, Embrey is proud to make 7600 Broadway our corporate home and pleased to have a company like Morgan Stanley as our neighbor and tenant." Trey Embrey, President and CEO of Embrey. A professionally equipped fitness studio with showers, co-working study and private conference room, a full-featured lounge for entertainment and recreation, elevated pool deck and outdoor terrace, piano bar, and underground parking, highlight a number of luxury amenities thoughtfully curated specifically to create a premier living and working experience. Property management services will be provided by Stream Realty Partners. JLL's Office Leasing team of Mark Krenger and Meredith Howard represented Embrey. Jeff Miller and John Worthen with JLL's Corporate Advisory Group represented Morgan Stanley. We endeavor to align ourselves with the highest quality projects in the marketplace that attract great tenants. 7600 Broadway is truly representative of this. This amazing space will provide the Embrey and Morgan Stanley teams a place where they can achieve their best ambitions, 7600 Broadway is a signature property for Embrey and JLL is proud to partner with them. The highly amenitized and walkable project, at the corner of Broadway and Nacogdoches, stands as a gateway to the Alamo Heights community and is leading the redefinition and revitalization of the historic boulevard." Mark Krenger, Managing Director and Co-Market Lead, JLL. Residential leasing for the development is expected to begin in 2022 with management provided by Embrey Management Services, nationally recognized for its award-winning approach to service. This project represents the highest calling of our profession in terms of concept, detail, innovation and vision, 7600 improves the streetscape at an iconic intersection that creates a more walkable neighborhood and a first-class experience in the heart of San Antonio." John Kirk, Managing Director and Executive Vice President for Development for Embrey. About Embrey San Antonio-based Embrey Partners LLC 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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Spotlight

Market pulse is what the realtors are seeing and saying. It also includes open house traffic, appointments presentations, office floor calls, all cash purchases. These are market conditions compared to a month ago.

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