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.
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.
Market Outlook, Real Estate Investment
PRnewswire | July 31, 2023
RentSpree, the industry's premier end-to-end rental management software provider, today announced its latest partnership with OneKey® MLS, the largest multiple listing service in New York, to bring its services to the organization's more than 50,000 members.
RentSpree's full integration on the OneKey® MLS platform will facilitate the instant creation of an ApplyLink™ for rental listings, which supports members in generating more leads, cutting down transaction time, and increasing returns. The new integration makes it easy by allowing OneKey® members to command the entire rental process easily and efficiently.
"Our partnership with RentSpree fits our organization's vision to go beyond what is expected to provide our subscribers with access to the tools they need to compete and stay relevant in a rapidly changing business landscape," said OneKey® MLS CEO Richard Haggerty. "We are deeply committed to supporting our subscribers in all critical areas of real estate. OneKey® MLS is proud to provide a flagship rental tool that easily satisfies fundamental housing needs for Long Island, New York City and the Hudson Valley region."
The U.S. rental market continues to be driven by high demand and a lack of available housing, resulting in nearly two years of median rent growth, according to data from Rent.com. More than 66 percent of states experienced yearly rent growth in May, with New York being among the 10 biggest gainers.
"I'm beyond excited to partner and deliver value for both subscribers and consumers across the OneKey® footprint," said RentSpree Co-Founder & CEO Michael Lucarelli. "We love to work with leaders like Richard who can easily recognize and address important needs in one of the hottest rental markets in the U.S."
He added, "As we seek these types of collaborations, we continue deploying solutions that go well beyond our best-in-class rental screening services. These focus on maximizing agent earnings, building branding, and automating all rental-related processes."
Los Angeles-based RentSpree is a provider of award-winning rental software that helps seamlessly connect real estate agents, owners, and renters to simplify and automate the entire rental process, from listing to lease. The all-in-one platform is known across all 50 states for its easy and secure interface and suite of rental tools, including tenant screening, rent payments, marketing and renter management. To date, RentSpree has partnered with more than 250 of the most influential MLSs, real estate associations and brokerages to serve over one million users in the U.S. RentSpree has been ranked on Inc. 5000's fastest-growing private companies in 2022. Visit RentSpree.com for more information.
About OneKey® MLS
OneKey® MLS, made possible by the merger of MLSLI and Hudson Gateway MLS, is one of the nation's leading Multiple Listing Services, serving 50,000 REALTOR® subscribers and 4,500 participating offices throughout Long Island, New York City, and the Hudson Valley. OneKey® MLS is dedicated to providing more comprehensive coverage, up-to-date statistics, and the best real estate tools and resources.
Real Estate Technology, Agent
PRnewswire | August 04, 2023
Capital Square, one of the nation's leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced today that its offering, CS1031 Ashford Townes BFR Housing, DST, has been fully subscribed. The Regulation D private placement, which raised nearly $13.7 million from accredited investors, is comprised of a 74-unit, newly constructed build-for-rent townhome community in the affluent Raleigh suburb of Fuquay-Varina, North Carolina.
Capital Square formed the Private Equity Group, managed by experienced real estate executives Dave Platter and Jon Trott as managing directors and co-heads, to profit from opportunities in the housing market, including a dedicated build-for-rent ("BFR") strategy in high growth sunbelt markets. This represents Capital Square's third BFR offering on platform to date.
"This is another home run for Capital Square in providing a newly constructed build-for-rent housing community for Section 1031 exchange and other investors seeking stable cash flow and capital appreciation. From Class A and Class B residential communities, manufactured housing in Florida and now build-for-rent residential communities, Capital Square is providing investors with a range of options to invest in the vibrant southeastern housing markets," said Louis Rogers, founder and co-chief executive officer of Capital Square.
Completed in February 2022, Ashford Townes is located at 604 Oakbrook Pass Way. The townhome community, developed by D.R. Horton, the nation's largest homebuilder by volume, boasts three-bedroom, open floorplans averaging 1,693 square feet with integrated smart-home technology, stainless steel appliances, quartz countertops, high vaulted ceilings, built-in window blinds, spacious walk-in closets, full size washer-dryers, attached one-car garages, private patios and outdoor storage. A community dog park is additionally contemplated for development.
Residents have access to over 130,000 jobs, including major employers such as the University of North Carolina at Chapel Hill, Novartis, IQVIA, JLL and Duke Energy. Five minutes from the property are a plethora of local retailers, restaurants, breweries, fitness centers and top performing schools. Approximately 30 minutes south of the property is Research Triangle Park, the largest research park in the U.S. and a premier global innovation center covering 7,000 acres of the combined Raleigh-Durham-Cary statistical area.
"Ashford Townes is an affordable housing option amidst Raleigh's single-family for-sale market, where rents are predicted to grow 3.75% over the next five years," said Whitson Huffman, co-chief executive officer. "The area has seen a recent decline of multifamily inventory, making the Raleigh market an attractive market for investment in a high-quality single-family rental community."
Capital Square is an active owner of multifamily communities in North Carolina. The firm recently acquired Asheville NC Apartment Portfolio, a two-property multifamily portfolio comprised of a total of 305 apartment homes in Asheville. The community was acquired on behalf of CS1031 Asheville NC Apartment Portfolio, DST, a private placement offering that seeks to raise $73.1 million in equity from accredited investors and has a minimum investment requirement of $50,000.
Since its founding in 2012, Capital Square has acquired 171 real estate assets for over 6,500 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable cash flow and capital appreciation.
About Capital Square
Capital Square is a vertically integrated national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges, qualified opportunity zone funds for tax deferral and exclusion and a real estate investment trust (REIT). In recent years the company has become an active developer of mixed-use multifamily properties in the southeastern U.S., with eight current projects totaling approximately 2,000 apartment units with a total development cost in excess of $600 million. Since 2012, Capital Square has completed more than $7.5 billion in transaction volume. Capital Square's related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management and disposition, for a growing number of high-net-worth investors, private equity firms, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for six consecutive years. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense's list of fastest growing companies. Additionally, Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" report in 2019 and their "Fantastic 50" reports in 2019 and 2020. In 2023, Capital Square was recognized by the Richmond Times-Dispatch as one of the region's "Top Work Places."
Brokerage, Real Estate Investment
Businesswire | July 20, 2023
Rental Beast, a leading real estate technology firm, is thrilled to announce a groundbreaking platform integration with Southwest MLS today. Ranked 10th nationwide as a hotspot for sellers, the Albuquerque housing market continues to boom despite a shortage in housing supply. As home values remain high, prospective homebuyers are shifting their focus to the rental market. In fact, each rental property in Albuquerque receives an average of eight tenant applicants, creating a market that's ready for REALTORS® to showcase their expertise.
Recognizing the demand for innovative solutions, the MLS is revolutionizing the rental market in Albuquerque through an exciting platform integration with Rental Beast. By providing its members with a comprehensive suite of tools, SWMLS empowers them to succeed in this fiercely competitive landscape.
"The launch of Rental Beast and NMHomeRentals.com is an exciting development for consumers, REALTORS®, and landlords in Greater Albuquerque," said Tego Venturi, President of SWMLS, "This new platform creates a reliable marketplace for rental properties, increasing transparency in the rental process and helping protect renters from scams. SWMLS has long been the premier marketplace for the Albuquerque home sales market and this new platform will become the central source of truth for the rental market in the same way."
The platform integration includes an array of features, including a rental-centric Add/Edit tool, access to valuable leads, third-party syndication to premier websites, an online application and tenant screening tool, powerful client management tools, and comprehensive training and support for SWMLS members to become experts in the rental market.
"We are giving members the tools they need to thrive in this space," said Ishay Grinberg, CEO of Rental Beast. "Our integration equips SWMLS members with the cutting-edge tools and resources needed to navigate the dynamic rental market landscape, deliver exceptional service to their clients, and capitalize on the immense potential that the rental market presents."
About Southwest MLS
The Southwest MLS Inc, also known as SWMLS, is the top real estate information and data provider in New Mexico, offering services to Central New Mexico and includes coverage in Bernalillo, Valencia, Sandoval, Torrance, and the areas of Socorro and Santa Fe Counties. The Southwest MLS is headquartered in Albuquerque, NM and is committed to equipping its members with valuable products and services, promoting strong ethical and professional stands while also supporting private property rights.
About the Greater Albuquerque Association of REALTORS® (GAAR)
The voice for real estate in the Greater Albuquerque area, the Greater Albuquerque Association of REALTORS® (GAAR) represents the growing region of Central New Mexico, which includes Bernalillo, Valencia, Sandoval, Torrance, parts of Socorro, and Santa Fe Counties, and is recognized as the leading provider of real estate information services and data in New Mexico.
Chartered in 1921 as the Real Estate Board of Albuquerque, GAAR today is the largest, local professional trade association in Central New Mexico, with 4,300 members pledged to uphold a strict Code of Ethics and Standards of Practice. GAAR is an association of professional REALTORS® who work cooperatively to advance the industry and actively support the communities and people they serve.
About Rental Beast
Rental Beast is a leading real estate technology firm with an end-to-end SaaS platform designed to empower real estate professionals and the nation's most comprehensive database of nearly eleven million rental properties. Sourced directly from property owners, updated in real-time, and offering a fulfillment-grade rental dataset, the Rental Beast database provides real estate professionals with an unparalleled view of all properties and owner types.
Utilizing a seamless and secure integration, participating MLSs, and REALTOR® Associations can capture thousands of properties that are normally off-MLS inventory, and leverage essential search, data ingestion, and maintenance systems needed to help member agents and subscribers capture their share of $12 billion in annual leasing commissions.
Rental Beast is recognized and supported by Second Century Ventures, the capital and strategic growth arm of the National Association of REALTORS® and is a proud member of the 2022 REACH-Canada program.