REAL ESTATE TECHNOLOGY
Balfour Beatty Communities | April 07, 2022
Balfour Beatty Communities, a national residential real estate investment and management company, received national honors for its military, multifamily, and student property management services based on an independent satisfaction survey conducted by SatisFacts, a national leader for technology, data, and education in the multifamily industry. Balfour Beatty Communities received honors in three categories: National Company Award for overall military housing, National Company Award for overall multifamily/student housing, and National Property Awards across its military, multifamily, and student housing portfolio, which numbers close to 50,000 units.
We are honored to receive this recognition for our efforts to provide exceptional service across our military, multifamily, and student housing properties. These awards are a testament to the dedication of our employees who embody our mission-driven culture through the hard work and high-quality services that they provide to our residents, partners, and communities every day.”
Chris Williams, Balfour Beatty Communities president
The SatisFacts surveys measure the resident experience from move-in to move-out and include resident scores on their interaction with office and maintenance staff on a 5-point scale. The SatisFacts Index allows Balfour Beatty Communities to benchmark resident satisfaction compared to other residential management companies. Balfour Beatty Communities then uses the scores to enhance resident satisfaction, retention, and overall community performance.
This year, SatisFacts received over 40,000 survey responses from Balfour Beatty Communities military housing residents and scored in the top percentile for both move-in and work order performance. These high scores resulted in the company receiving the National Company Award for overall military housing services and National Property Awards across almost all its military properties. For Balfour Beatty Communities’ military housing installations, current reporting indicates the company scored:
4.41 out of 5 on overall move-in performance
4.61 out of 5 on overall work order performance
Balfour Beatty Communities received similarly high scores across its 18-property multifamily and student housing portfolio, obtaining over 4,200 survey responses from its residents and performing highly on both move-in and work order experiences. The company was awarded the National Company Award for overall multifamily/student housing services and National Property Awards across almost all its multifamily and student properties.
About Balfour Beatty Communities
Balfour Beatty Communities is an active owner and operator of residential real estate in the multifamily, student and military housing sectors across the United States. Since its inception in 1999, Balfour Beatty Communities has invested in nearly 100 properties representing more than $7.9 billion of gross asset value. Our broad in-house expertise includes decades of acquisition, development, finance, renovation, leasing and property/facility management experience. Leveraging this extensive expertise and a customer service-focused approach, Balfour Beatty Communities seeks to create value in its real estate projects while delivering exceptional living experiences.
Balfour Beatty Communities is a subsidiary of Balfour Beatty Investments, Inc. and Balfour Beatty plc, a leading international infrastructure group.
Trilogy Real Estate Group | February 10, 2022
Trilogy Multifamily Income & Growth Holdings, a Regulation A+ bond offering sponsored by Trilogy Real Estate Group, announced today the acquisition of a 138-unit, Class A multifamily community located in Chicago's famed Logan Square neighborhood.
We are very excited to have acquired the first property within the Trilogy Multifamily Income & Growth Holdings offering, Our capital raise and a rapidly expanding selling group are strong indicators that investors are eagerly seeking investments offering attractive current income with upside potential and we believe this property delivers on both fronts."
Matt Leiter, CFO of Trilogy.
The six-story building was built in 2018 and provides 138 studio, one- and two-bedroom apartment homes and 8,800 square feet of fully occupied ground-floor commercial space. The transit-oriented development is only 300 feet from the nearest Chicago Transit Authority train station.
Along with unobstructed city views available from the property's rooftop deck, the apartment community offers many amenities uncommon for an asset its size, such as granite countertops, stainless steel appliances, nickel finish fixtures and in-unit washers and dryers. Some apartment homes also feature large walk-in closets, private terraces and IOTAS smart home technology. Community amenities include an indoor coworking space, modern fitness center, luxury fireplace, grilling stations, a bocce court and a green roof, among others.
Located in Chicago's desirable neighborhood of Logan Square, the property sits in the heart of a vibrant community with an abundant collection of dining, entertainment and employment experiences. Some of the notable employers in the surrounding area include Amazon, Eli Lilly, AbbVie and Boston Consulting Group. Residents are also just one mile south of the 606 Trail, a 2.7-mile community trail that brings together arts, history, design, event and green spaces for all residents.
The Regulation A+ bond offering intends to primarily acquire existing Class A and Class B multifamily real estate assets located in targeted markets across the U.S. Trilogy Real Estate Group expects to add multiple properties over the coming months.
About Trilogy Real Estate Group
Trilogy Real Estate Group is a vertically integrated real estate investment and property management firm with a focus on multifamily apartments and commercial real estate. Trilogy was recently rated "A" and was ranked the sixth best U.S. apartment property manager in the "epIQ Index for Top 100 Management Companies" - January 2020. Since 2002, the principals of Trilogy have completed over $4 billion in transaction volume. Trilogy has a proven expertise in timing real estate cycles and sourcing and managing outstanding real estate investments in markets around the United States.
REAL ESTATE INVESTMENT
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.
REAL ESTATE INVESTMENT
Titan Development | March 26, 2022
Titan Development is moving forward with its first speculative building at Westpointe40, a business park located at I-40 and 98th Street in Albuquerque. Building 1 is a Class A, institutional-grade facility with 150,574 square feet of space targeted for completion in the second quarter of 2023.
Westpointe40 will be ideally located within a one-minute drive of Interstate 40, a major thoroughfare for warehousing and distribution users, and Titan will target these users in addition to light manufacturing companies. Many major cities – including Phoenix, Denver, Las Vegas and Oklahoma City – are within an eight-hour drive of Albuquerque, making the city and Westpointe40 an important hub for commerce. The park is also in close proximity to Interstate 25, Albuquerque International Airport and within close driving distance to most of the city's labor force.
Building 1 at Westpointe40 has been designed to accommodate a wide variety of warehousing, distribution, light manufacturing and services users, with a rear-load configuration, 32' clear height, dock-high and grade-level doors and ample trailer parking. The building is designed for users between 40,000 and 150,000 square feet. Wilger Enterprises is the general contractor for the project, GBA is the architect, Tierra West is the civil engineer, and Consensus Planning serves as an entitlement consultant. NAI SunVista's Riley McKee, Alex Pulliam, Jim Wible and Jim Hakeem are currently marketing the property for lease.
This building is part of Westpointe40, a master plan business park containing 100 acres of shovel-ready sites. Titan's efforts at Westpointe40 follow its strong successes over the last several years in the Texas markets of Austin and San Antonio where demand is surging. Titan has received strong support and interest from the Albuquerque Regional Economic Alliance (AREA) in exploring options and opportunities to create new jobs for the community.
We believe – and our data shows – that Albuquerque is ready for speculative industrial development, and we're already seeing strong interest in the Westpointe40 project from prospective tenants and buyers. Paired with the city's booming residential market and its renewed focus on recruiting non-local businesses and growing local businesses, we anticipate that our industrial park will attract new jobs and employment opportunities for both current residents and newcomers to our great state."
Brian Patterson, PE and Senior Vice President at Titan
"Titan and our local land partners are excited to bring industrial development to Albuquerque, especially along the critical I-40 corridor," said Sal Perdomo, Director of Acquisitions and Development. "Several major companies already have distribution centers in this area, and as national demand for ecommerce continues to grow – and as private developers as well as the city and state continue to recruit and retain economic base employers – we expect that Westpointe40 will serve as a key southwestern hub for other manufacturers and logistics warehouses looking to expand or relocate their operations."
About Titan Development
Titan Development is a leading Southwest full-service development and real estate investment firm. Titan has developed 13 million square feet of real estate totaling more than $2.5 billion in project cost since the firm was formed in 1999. Titan Development has a wealth of real estate development experience in many asset classes including private equity fund investment and management, and has offices in Austin, TX, and Albuquerque, NM.
Titan Development's first private equity fund Titan Development Real Estate Fund I (TDREF I) raised $112 million and invested in a variety of real estate asset classes. Titan Development Real Estate Fund II (TDREF II) raised $95 million and commenced in November of 2020. TDREF II focuses on industrial and multifamily development in secondary and tertiary markets. TDREF II has identified all fund projects, has committed 80% of the total fund equity to eleven projects and has identified the remaining projects which will commence construction in early 2022.