REAL ESTATE INVESTMENT
Coastal Ridge Real Estate | September 01, 2022
Columbus, Ohio – Coastal Ridge Real Estate (Coastal Ridge) a national multifamily investment, management, and development firm, announced today that they are continuing the expansion of their Stillwell brand with a new project in Central Ohio. The firm will build 230 build-for-rent (BFR) homes at Jerome Village, a master-planned community developed by Nationwide Realty Investors.
Jerome Village boasts a wide range of housing styles and options to support Central Ohio’s growing population and housing needs. The community includes over 700-acres of parks, and green space with a network of walking and nature trails connecting to Glacier Ridge Metro Park.
“The Stillwell brand compliments the lifestyle offered at Jerome Village, We’re enthusiastic about our partnership with Jerome Village and Hallstatt Real Estate Partners on this project and look forward to welcoming our first set of residents to our community in 2023.”
-Jerimi Nuckolls, Director of Development at Coastal Ridge
Coastal Ridge launched the Stillwell brand earlier this year with Stillwell Wellen Park and Stillwell Avery Centre, BFR projects in Sarasota, Florida and Round Rock, Texas, respectively.
We’ve looked forward to the day when we could announce the Stillwell brand would be coming to the Central Ohio community, With so many of our Coastal Ridge team members located in Central Ohio and our corporate headquarters located in downtown Columbus, this project is of particular importance to our organization and development team,said Andy Lallathin, Co-Founder and Managing Partner at Coastal Ridge.
Stillwell Jerome is being developed in a joint venture partnership with Halstatt Real Estate Partners and Coastal Ridge, with Columbus-based, Hallmark Construction serving as the contractor.
Stillwell Jerome will be located within the Fairbanks School District and will feature one-, two-, and three-bedroom homes with first-floor private entries and individual backyards. Residents will have onsite access to a resort-style pool, state-of-the-art clubhouse, walking trails, outdoor seating areas, and a fitness center.
About Coastal Ridge Real Estate
Headquartered in Columbus, OH, Coastal Ridge Real Estate is a full-service real estate investment and property management firm executing on core, core plus, value add, and ground-up development investment strategies in the multifamily real estate asset class. The firm's vertically integrated platform includes divisions to oversee investment management, property management, and development. Coastal Ridge's current portfolio is comprised of 35,000+ conventional apartment homes and student housing beds spanning 53 distinct markets, with assets under management totaling over $4 billion. Coastal Ridge has been recognized as an Inc. 5000 Fastest-Growing Private Companies in America five times.
Created by Coastal Ridge, Stillwell is an innovative multifamily housing concept within the build-for-rent sector. This innovative product known as a Horizontal Apartment or Cottage Community consists of free-standing one- and two-story single-family residential homes with private yards, utilizing shared parking similar to a typical garden apartment layout, and featuring programmed amenities. This product offers a new option for residential living, providing the privacy of a single-family home, and the amenities, professional management, and ease of living of a traditional apartment community.
About Halstatt Real Estate Partners
Halstatt Real Estate Partners (HREP), a women-owned real estate private equity firm, has participated in the acquisition and development of over $1 billion in Southeast based real estate assets since 2011. Founded by the Sproul family, based in Naples, Florida, and a proud part of the Barron Gift Collier legacy in Southwest Florida, HREP invests in middle market, value add and opportunistic commercial and residential real estate projects. HREP works with best-in-class local and regional operating partners to maximize the value of its real estate investments. HREP invests alongside a cross-section of institutional limited partners from fund to fund including charitable foundations and endowments, domestic and international family offices, and corporate pension funds with a history of continuity.
REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT
Landa | September 05, 2022
Landa, a real estate investing company, today announced a $25 million Series A funding round, bringing their total equity raised to $33 million with the inclusion of a previously raised $8 million seed round. The company has also raised $62 million in debt financing. Through a fractional ownership model, Landa enables individuals to access the real estate market for as little as $5. The funding was led by investors including NFX, 83North, and Viola Ventures.
Real estate is one of the most lucrative investments someone can make, but traditional home ownership is increasingly unattainable. Driven by the belief that regardless of age, income, or background, everyone should have the opportunity to invest in property, Landa breaks down the traditional barriers to entry and empowers individuals to build wealth in real estate. With 22,000 investors using the app and managing over 400 units to choose from across seven markets, Landa empowers individuals to benefit from a long-term investment while also enjoying a dividend income from their properties.
“There is a huge appetite to access this market among the many people who can’t participate in traditional real estate investing, Landa makes it easy to invest in individual properties and fully manage your portfolio from a smartphone.”
-Landa cofounder and CEO Yishai Cohen
The easy-to-use and highly secure interface allows investors to browse properties, purchase shares, and have a simple overview of their portfolios. Landa also provides free educational tools to help individuals learn the ropes of real estate and create a smart portfolio.
Investing in real estate has consistently proven to be one of the most reliable ways to build wealth, yet it’s becoming increasingly out of reach for the vast majority of people due to rising prices and interest rates, By empowering anybody to invest in income-generating properties for as little as $5, Landa is opening access for hundreds of millions of people,explained Gigi Levy-Weiss, General Partner at NFX.
Through a responsible property management structure, Landa makes sure that every home offered is safe and well maintained for tenants. From screening and acquiring properties, to addressing maintenance requests and collecting rent, all management logistics are handled by the Landa team. This provides a quality and easy experience for all stakeholders involved.
Landa currently has properties in Atlanta and New York City and will soon be launching in Charlotte, Birmingham, Tampa, Orlando, and Jacksonville.
Landa was founded in New York City by Yishai Cohen and Amit Assaraf to enable everyone to access and benefit from investing in real estate, regardless of income. Landa purchases properties, divides them into shares for investors, and rents them out. Investors have the potential to net a long-term investment while also enjoying a dividend income from their properties.
REAL ESTATE INVESTMENT
Nitya Capital | September 26, 2022
Nitya Capital, a U.S. real estate investment firm, announced that it is expanding to the United Arab Emirates (UAE) as part of its continuing global growth strategy. Nitya plans to open an office in January 2023 to grow its investor base and provide opportunities to directly invest in U.S. real estate amid shifting global economies and stock market fluctuations.
Following the recent opening of Nitya’s India office in 2020, the expansion to the UAE underscores the increase in global demand for reliable alternative investment opportunities found in U.S. real estate, particularly multifamily. Nitya’s UAE branch plans to reach a newer, locally sourced investor base, specifically family offices, institutions, and high-net-worth investors.
“Opening our first branch in the Middle East is an exciting stepping stone in Nitya’s growth, The Middle East is a very important hub for Nitya given our recent successful capital raises in the region, and we can’t wait to offer the best in real estate services to Middle Eastern institutions and high-net-worth investors. I’m very grateful for the love and hospitality I’ve experienced during my many visits to the UAE and it’s an honor to be working with the investment community.”
-Swapnil Agarwal, CEO of Nitya Capital
Nitya leadership recently executed successful overseas investment deals with one of UAE’s largest institutional groups, as well as attributed meaningful investments with Middle East families in the past. With this expansion, the company will continue the momentum and meet increased demand from local investors who want to explore a new wave of recession-resilient real estate ventures through a direct presence within the region.
Nitya’s Middle East Partner and Managing Director for the new UAE location, Rasheed Chahal, will oversee all internal and regional developments across the branch, work with investors on all levels (high-net-worth individuals, family offices, institutions) for U.S. real estate deals as well as help to grow the UAE office. Chahal has more than 15 years of experience in various roles in real estate development, investment management, and capital markets across North American and Middle Eastern regions.
Multifamily real estate in the United States remains to be a lucrative investment as it continues to see increase in demand for housing given continued population growth and shortage of supply, despite global economic shifts. We want to bring these investment opportunities directly to the UAE investment community, Our expansion will provide local investors with in-area, on-the-ground representation and can help them take advantage of exceptional real estate opportunities without taking on major risk. With all the uncertainty and rising inflation taking place across national economies, real estate continues to be a powerful hedge and very attractive place to put your money,stated Chahal.
Nitya Capital has experienced historic growth since 2020, has partnered with large institutions across North America, explored several successful new student housing portfolios, opened an India office, and increased its total assets under management. The company currently oversees assets in excess of $3b. Overall, it has successfully exited over $2.5b in assets with 25%+ in total generated net returns for its investors since the company’s launch in 2013.
Its latest extension into the UAE region marks a substantial diversification in its growth across national waters, allowing for local investors to seize profitable real estate opportunities with safe and stable returns.
About Nitya Capital
Nitya Capital is a privately-owned national real estate investment firm headquartered in Houston, Texas. As active investor-operators, Nitya Capital takes a disciplined approach across all avenues pre- and post-acquisition. Our team of dedicated professionals works thoroughly to monitor key performance indicators and optimize asset performance, engaging in in-depth market research and data analysis. We additionally provide a thorough due diligence process and a holistic, hands-on asset management model, maximizing our attention to detail on all ends of the spectrum.
REAL ESTATE ADVICE
Urban Land Institute | June 28, 2022
A new report from the Urban Land Institute (ULI) investigates how the real estate community is working to address the homelessness crisis in the United States. The report explores how to support people experiencing homelessness through creative housing solutions and collaboration with community organizations, with the ultimate goal of providing abundant, affordable, and high-quality housing for affected and at-risk populations.
According to the U.S. Department of Housing and Urban Development, 2020 marked the fourth consecutive annual increase in people experiencing homelessness. Homelessness is a systemic challenge that necessitates the involvement and collaboration of the government, the private sector, philanthropic organizations, health and social services, faith communities, and the public.
The ULI report, Homeless to Housed, offers housing case studies, universally applicable lessons, and a blueprint for how to replicate best practices in other communities to show how the development community can be an active partner in addressing homelessness.
More than ever before, homelessness is being driven by rapidly increasing housing costs, and the public and private sectors must work together both to meet the needs of the unhoused and to prevent more households from falling into homelessness. This report offers creative models and examples of how the real estate community is effectively leveraging its housing development, management, investment, and financing expertise to enable cities to overcome the growing challenge of homelessness."
Christopher Ptomey, Executive Director of the ULI Terwilliger Center for Housing
Key takeaways from the new report include:
Housing is important, but social services are essential: Housing is an essential first step in addressing homelessness, but it is not a solution in and of itself. Comprehensive social services are a critical second component. Delivering one without the other offers little chance of successfully tackling the crisis.
Novel, creative solutions are needed: Nowhere is the need for innovation more evident than in seeking to address homelessness. Two areas of focus are cost-effective construction methods and non-governmental funding sources. Private companies -- both in real estate and in other sectors -- have a vital role to play in the latter.
All segments of the community must play a role: Homelessness affects real estate, health care, social services, education, economic development, and more. Community collaboration is essential, particularly among the private and public sectors. The real estate sector is obligated to provide cost-effective housing, and it is incumbent on governments to pursue bold policies that allow for more housing for people of all income levels.
Homelessness is a multifaceted issue, but in many cases links back to economics: Whether because of a lack of affordable housing, low wages, unexpected expenses, loss of employment, illness, lack of insurance, or a domestic issue, homelessness can be a result of economic stress.
The report includes seven case studies that feature creative solutions for addressing homelessness that could serve as models for investors and developers alike:
New Orleans: City of New Orleans Shelter and Engagement Center provides a 24-hour shelter to 100 homeless individuals and provides services to help guests secure permanent housing.
Mountain View, Calif: LifeMoves is a supportive interim housing community that provides intensive case management services to help clients overcome homelessness and return to sustainable housing.
Long Beach, Calif: Former Best Western Motel Conversion was the recipient of funds from Project Homekey, California's innovative $600 million program to purchase and rehabilitate housing. The former motels now provide temporary housing for residents 65 and older with pre-existing conditions that put them at greater risk of contracting COVID-19.
San Antonio: Haven For Hope is the largest mixed-use development in the United States that provides housing for people experiencing homelessness, as well as job training, education, medical care, identification recovery, case management, and animal care services.
Sharon Crossing, N.C.: The Lotus Campaign is a non-profit organization that increases the availability of housing for people experiencing homelessness by engaging with the private, for-profit real estate and investment communities. Recognizing that neither the public nor private sector can solve homelessness alone, the Lotus Campaign strives to bridge that gap while minimizing risks for vulnerable renters.
San Francisco: The Bryant Street Project provides 145 apartments of permanent supportive housing near public transit, grocery stores, and community parks to ensure that residents have access to neighborhood amenities and services.
Washington: John and Jill Kerr Conway Residence provides housing constructed with sustainable materials as well as health and social services to veterans experiencing homelessness in collaboration with the U.S Department of Veterans Affairs.
Berkeley, Calif.: The project at 2012 Berkeley Way is a redevelopment of a surface parking lot in downtown Berkeley that will create three distinct projects – an 89-unit affordable family housing development; a 53-unit permanent supportive housing development; and a homeless shelter plus transitional housing – in one unified building.
The full Homeless to Housed report is available on ULI's Knowledge Finder platform.
About the Urban Land Institute
The Urban Land Institute is a non-profit education and research institute supported by its members. Its mission is to shape the future of the built environment for transformative impact in communities worldwide. Established in 1936, the institute has more than 45,000 members worldwide representing all aspects of land use and development disciplines.