Real estate stocks gain on sharp rise in launches in affordable housing segment

The Financial Express | August 19, 2016

Real estate stocks such as Prestige Estate, NBCC and Oberoi Realty were trading higher in the morning trade on Friday after a realty consultant Cushman & Wakefield said that the affordable housing sector has seen a massive surge of close to 100 per cent in new launches in the first half of the ongoing calendar year 2016, as against same time last year.

Spotlight

Incorporated in 1948, Weingarten Realty Investors (NYSE:  WRI) is one of the largest and oldest real estate investment trusts listed on the New York Stock Exchange.  As a commercial real estate owner, manager and developer, Weingarten remains focused on delivering solid returns to shareholders. The Company owns or operates under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 227 properties which are located in 18 states spanning the country from coast to coast


Other News
REAL ESTATE ADVICE

Bowman Consulting Group Ltd. adds Gary VanAlstyne as Branch Manager, Principal of Leesburg, Virginia Office

Bowman | July 11, 2022

Bowman Consulting Group Ltd. (“Bowman”) announced that Gary VanAlstyne joined the company as branch manager and principal at its Leesburg, Virginia office. VanAlstyne has more than 30 years of experience in construction and development. As a Bowman branch manager/principal, VanAlstyne is responsible for providing consistent, effective leadership through stability, innovation, and common-sense solutions. Before joining Bowman, VanAlstyne served as vice president of Davis Utility Consulting, LLC, as director of design and construction services of the Loudoun County Public Schools, and as a member of the FSM Public Review Committee of the Loudoun County Government. He furthered his career working for Toll Brothers, Inc. as regional AVP and served as vice president of development for both Beazer Homes and Lennar. In addition, VanAlstyne owned and operated a development consulting firm in the residential, commercial, and recreational markets on the Eastern seaboard. He designed and built golf courses working with Arnold Palmer and Rees Jones as well as designing numerous master planned communities and various water parks around the country for Six Flags, Dollywood, and others. Before joining Bowman, he worked closely with the company as a client and had the opportunity to meet and collaborate with many individuals at the engineering services firm. “The industry has changed since I started working with Bowman in the early 2000s on residential subdivisions,” he said. VanAlstyne’s relationships with Bowman and the industry have allowed him to adapt and learn about different projects and clients and helping assure that Bowman is the “go-to” firm for engineering services in Loudoun County. “Thanks to his 22 years as a Bowman client, Gary VanAlstyne is a perfect addition to our team and we look forward to his continued contribution to Bowman’s success,” Bowman Chief Operating Officer Mike Bruen Bowman’s IPO and subsequent acquisitions compelled VanAlstyne to join the company and return to consulting. “I have come full circle,” he said. “I have been a Bowman client for over 20 years and having that experience as well as being a consultant and an owner’s representative helps me enhance the customer service experience,” he added. “What makes Bowman different from its competitors is its size and depth of specialized skills across the country, providing clients the ability to obtain all the services needed in one place and enhance my goal of bringing the customer experience to a new level.” VanAlstyne earned a Bachelor of Science in Civil Engineering (BSCE) and a geotechnical minor from Union College in Schenectady, NY, and is a registered professional engineer in NY, PA and VA. He is an active member of the Northern Virginia Builders Industry Association (NVBIA), the Loudoun County Chamber of Commerce and the National Association for Industrial and Office Parks (NAIOP). VanAlstyne is also a member of the Construction Owners Association of America (COAA) and the Urban Land Institute (ULI). About Bowman Consulting Group Ltd. (Bowman): Headquartered in Reston, Virginia, Bowman is an engineering services firm delivering infrastructure solutions to customers who own, develop and maintain the built environment. With over 1,400 employees and more than 60 offices throughout the United States, Bowman provides a variety of planning, engineering, construction management, commissioning, environmental consulting, geomatics, survey, land procurement and other technical services to customers operating in a diverse set of regulated end markets. Bowman trades on the Nasdaq under the symbol BWMN.

Read More

INVESTMENTS

Sotheby's International Realty Expands in Michigan

Sotheby's International Realty | August 17, 2022

Sotheby's International Realty announced the opening of Great Lakes Sotheby's International Realty, signifying the brand's continued growth in the state of Michigan. The addition marks the brand's seventh office in the state. Great Lakes Sotheby's International Realty is owned and operated by Dean Groulx and Wendy Groulx, who bring more than 60 years of collective experience to the company. Headquartered in the city of Elk Rapids, the office will serve the greater Traverse City area in Michigan including Alden, Bellaire, Elk Rapids, Elk Lake, Lake Leelanau, North Port, Suttons Bay, Torch Lake, and Traverse City. "Greater Traverse City has a robust luxury home market, It's become attractive for high-net-worth individuals and entrepreneurs and we're seeing both U.S. and international buyers purchasing primary and secondary homes in the area. Our continued growth in the state enables our brand to service this growing market and I look forward to supporting Dean, Wendy, and the entire Great Lakes Sotheby's International Realty team." -Philip White, president and CEO of Sotheby's International Realty The Traverse City area boasts a lifestyle and culture that few other places can match, Our area has access to some of the largest and most pristine freshwater lakes and access to world-class entertainment and fine dining. Few real estate companies can match the background and experience of our brokers and sales associates, and our affiliation with Sotheby's International Realty will offer sellers and buyers in the greater Traverse City area an experience like no other thanks to its prestige, global presence, and marketing capabilities,said Groulx. The company has plans for future growth in Alden, Bellaire, Traverse City, Northport, and Leelanau. Great Lakes Sotheby's International Realty was launched in partnership with Russ Post, owner/broker of Ocean Sotheby's International Realty. The Sotheby's International Realty® network currently has nearly 26,000 affiliated independent sales associates located in over 1,000 offices in 81 countries and territories worldwide. Great Lakes Sotheby's International Realty listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm's brokers and clients will benefit from an association with Sotheby's auction house and worldwide Sotheby's International Realty marketing programs. Each office is independently owned and operated. Sotheby's International Realty Sotheby's International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby's auction house. Today, the company's global footprint spans more than 1,000 offices located in 81 countries and territories worldwide, including 51 company-owned brokerage offices in key metropolitan and resort markets. In February 2004, Anywhere Real Estate Inc. entered a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a franchise system. The franchise system is comprised of an affiliate network, where each office is independently owned and operated. Sotheby's International Realty supports its affiliates and agents with a host of operational, marketing, recruiting, educational and business development resources. Affiliates and agents also benefit from an association with the venerable Sotheby's auction house, established in 1744.

Read More

REAL ESTATE INVESTMENT

JDM PARTNERS REACQUIRES STAKE IN DOUGLAS RANCH MASTER PLANNED COMMUNITY FROM THE HOWARD HUGHES CORPORATION®

The Howard Hughes Corporation | August 23, 2022

The Howard Hughes Corporation® announced today that JDM Partners has exercised their remaining option to reacquire a stake in Douglas Ranch, the recently launched large-scale master planned community in Phoenix's West Valley. The community was acquired by The Howard Hughes Corporation from JDM Partners and El Dorado Holdings last October for approximately $541 million. On August 18, JDM Partners exercised its second option to buy back into Douglas Ranch, acquiring an additional 2.8% interest in the Douglas Ranch joint venture for approximately $15 million. The transaction brings the aggregate of JDM Partners' investment in Douglas Ranch excluding Trillium, the community's first 3,000-acre village to approximately $65 million, which equates to approximately 12% of the joint venture. JDM Partners and El Dorado Holdings are 50/50 joint venture partners with HHC on Trillium. Land sales at the master planned community are expected to begin this fall. About The Howard Hughes Corporation® The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate throughout the U.S. Its award-winning assets include the country's preeminent portfolio of master planned communities, as well as operating properties and development opportunities including: the Seaport in New York City; Downtown Columbia®, Maryland; The Woodlands®, The Woodlands Hills®, and Bridgeland® in the Greater Houston, Texas area; Summerlin®, Las Vegas; Ward Village® in Honolulu, Hawaiʻi; and Douglas Ranch in Phoenix, Arizona. The Howard Hughes Corporation's portfolio is strategically positioned to meet and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country. Dedicated to innovative placemaking, the company is recognized for its ongoing commitment to design excellence and to the cultural life of its communities. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC.

Read More

AGENT,REAL ESTATE ADVICE

RESAAS Wins PropTech Breakthrough Award for Second Year Running

RESAAS Services Inc. | September 09, 2022

RESAAS Services Inc., a technology platform for the real estate industry, today announced the Company has won the PropTech Breakthrough Award: Agent Match Solution of the Year for the second consecutive year. "RESAAS is proud to be recognized by this prestigious global award for a second consecutive year, showcasing the pedigree of our enterprise-grade technology platform, RESAAS continues to cement its position as the real estate industry's leading solution for Agents and Brokers to secure new business. By focusing on unique real estate data, RESAAS solutions provide unrivalled business value to the global real estate industry." -RESAAS CEO, Tom Rossiter The 2022 PropTech Breakthrough Awards received over 1,500 nominations globally. Winners alongside RESAAS include Rocket Mortgage, OpenDoor, Appfolio, and TenantBase. Submissions were judged on several critical characteristics including innovation, functionality, performance, ease of integration and ease of use. About RESAAS Services Inc. RESAAS is an award-winning global technology platform for the real estate industry. With over 500,000 real estate agents utilizing RESAAS in 160 countries, RESAAS enables real-time industry communication, delivers new business opportunities and captures unique real estate data. Some of real estate's biggest brands leverage RESAAS to provide business intelligence to real estate brokerages, franchises and associations.

Read More

Spotlight

Incorporated in 1948, Weingarten Realty Investors (NYSE:  WRI) is one of the largest and oldest real estate investment trusts listed on the New York Stock Exchange.  As a commercial real estate owner, manager and developer, Weingarten remains focused on delivering solid returns to shareholders. The Company owns or operates under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 227 properties which are located in 18 states spanning the country from coast to coast

Resources