REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT
Green Street | December 05, 2022
Green Street, the preeminent provider of commercial real estate intelligence, has expanded its Pan-European market coverage to 30 metros with the addition of new data, analytics and research on Edinburgh, Geneva, Lisbon, Prague and Warsaw. These five cities have been incorporated into Green Street's powerful web platform to provide market participants with an unparalleled view of operating fundamentals and valuation throughout the Pan-European region based on average-quality assets. Specifically, this expansion enables the comparison of proprietary Market Grades, net initial yields, economic cap rates, Commercial Property Price Indices (CPPIs), market forecasts, sales comps, and insights, with more than 15 years of historical data, across 30 metro areas for the Office, Industrial, Residential and Retail property sectors.
"Green Street's expanded Pan-European market analytics enables swift and easy comparison of commercial property in Europe – standardized across 17 countries and eight different currencies – to empower our clients to make the most-informed capital-allocation decisions, Market participants gain competitive insight on high-yielding, burgeoning markets at the property-sector level, which is critical during times of volatility and unrest," he shares.
-Kris Hoffman, Chief Revenue Officer for Green Street
Building off the momentum from our recent European Sales Comps launch, the addition of these new markets supports Green Street's commitment to aggressively investing in our global data, analytics and research to continuously innovate and expand the breadth and depth of our robust web platform of actionable intelligence, Hoffman concludes.
About Green Street
Green Street is the preeminent provider of actionable commercial real estate research, news, data, analytics, and advisory services in the U.S. and Europe. For more than 35 years, Green Street has delivered unparalleled intelligence and trusted data on the public and private real estate markets, helping investors, banks, lenders, and other industry participants optimize investment and strategic decisions. The firm delivers exclusive market information, conclusion-driven insights, and predictive analytics through a SaaS platform.
REAL ESTATE INVESTMENT
Choice Properties Real Estate Investment Trust | November 21, 2022
Choice Properties Real Estate Investment Trust (“Choice Properties” or the “Trust”)(TSX: CHP.UN) announced today that the Toronto Stock Exchange (“TSX”) has accepted a notice filed by Choice Properties of its intention to make a normal course issuer bid (“NCIB”).
The TSX notice provides that Choice Properties may, during the 12-month period commencing November 21, 2022 and terminating November 20, 2023, purchase up to 27,566,522 of Choice Properties trust units (“Units”), representing approximately 10% of the public float of the Units, by way of a NCIB over the facilities of the TSX or through alternative trading systems or by such other means as may be permitted under applicable law. As of November 9, 2022, Choice Properties had 327,758,449 outstanding Units. Based on the average daily trading volume of 354,532 during the last six months, daily purchases will be limited to 88,633 Units, other than block purchase exceptions.
Purchases of Units will be made in open market transactions over the facilities of the TSX or through alternative trading systems. In addition, Choice Properties may enter into forward purchase or swap contracts in connection with Units which may be settled by physical settlement, cash settlement or a combination thereof. The forward price will be based on market price, dividend yield and market interest rates. Choice Properties may also purchase Units through private agreements or unit repurchase programs if it receives an issuer bid exemption order permitting it to make such purchases. Any purchases of Units made by way of private agreements or under unit repurchase programs may be at a discount to the prevailing market price as provided in the relevant issuer bid exemption order.
Decisions regarding the timing of future purchases of Units will be based on market conditions, Unit price and other factors. Choice Properties may elect to suspend or discontinue its NCIB at any time. Units purchased under the NCIB will be cancelled or used in connection with the Trust’s equity settled incentive plans. Choice Properties believes that the market price of Units could be such that their purchase may be an attractive and appropriate use of corporate funds. Choice Properties may also use its NCIB to acquire the number of Units that are issued pursuant to the exercise of options in order to offset the dilutive effect of options that have been exercised. Pursuant to its previous NCIB, under which Choice Properties received approval from the TSX to purchase up to 27,558,665 Units for the period of November 19, 2021 to November 18, 2022. As at November 9, 2022, Choice Properties purchased 230,682 Units through open market purchases on the TSX and alternative trading systems at a weighted average price of $14.39.
From time to time, when Choice Properties does not possess material non-public information about itself or its securities, it may enter into a pre-defined plan with its broker to allow for the purchase of Units at times when Choice Properties ordinarily would not be active in the market due to its own internal trading blackout periods and insider trading rules. Any such plans entered into with Choice Properties’ broker will be adopted in accordance with the requirements of applicable Canadian securities laws.
About Choice Properties Real Estate Investment Trust
Choice Properties is a leading Real Estate Investment Trust that creates enduring value through the ownership, operation and development of high-quality commercial and residential properties. We believe that value comes from creating spaces that improve how our tenants and communities come together to live, work, and connect. We strive to understand the needs of our tenants and manage our properties to the highest standard. We aspire to develop healthy, resilient communities through our dedication to social, economic, and environmental sustainability. In everything we do, we are guided by a shared set of values grounded in Care, Ownership, Respect and Excellence.
REAL ESTATE INVESTMENT,REAL ESTATE ADVICE
Tishman Speyer | November 16, 2022
Tishman Speyer today announced an agreement to serve as the first-ever Global Partner with Project Destined, a social impact platform that provides students in underserved communities with training in financial literacy, entrepreneurship and real estate.
Through this innovative collaboration, Tishman Speyer will lead teams of college students in New York City, Chicago, Washington DC, Los Angeles and London through Project Destined's work-based learning approach. Tishman Speyer's leading executives in each market will offer local students the opportunity to explore the wide range of exciting careers available to them in the real estate industry.
Just as importantly, Tishman Speyer executives will actively encourage and mentor the students as they work to develop a range of core financial, technical, presentation and leadership skills designed to aid them in launching their careers in real estate via internships, certifications and full-time employment.
Students in each city will form teams and be tasked with evaluating actual commercial real estate transactions. They will then take part in a pitch competition against other teams in their local market to earn scholarships. At the conclusion of the competition, the five Tishman Speyer city-based teams will compete against each other for the opportunity to share $10,000 in scholarship money. This inaugural "Tishman Speyer Cup" will be judged by CEO Rob Speyer and other leading executives of the firm.
"The real estate industry offers a variety of fulfilling career paths, from development to finance, technology and dealmaking, Unfortunately, students in underserved communities have not historically been provided the chance to learn about the world of commercial real estate and thus don't view it as an option. We are grateful for the opportunity to collaborate with Project Destined as their first global partner. Initiatives such as these are vital to cultivating a more diverse, innovative and ultimately successful real estate industry."
-Joe Ritchie, Tishman Speyer Managing Director of Business Development and Head of Diversity, Equity and Inclusion
We are extremely proud to launch our first global partnership with Tishman Speyer, This partnership will bring together students and executives across multiple Tishman Speyer offices. It will also provide our students with a unique global network and perspective as well as the training and resources required to become leaders and owners in commercial real estate,said Cedric Bobo, Project Destined Co-Founder.
Since its founding in 2016, Project Destined has worked with more than 4,500 participants in 35 cities across the U.S., U.K., Canada and Europe.
About Tishman Speyer
Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in 33 key markets across the United States, Europe, Asia and Latin America. Our portfolio spans market rate and affordable residential communities, premier office properties and retail spaces, industrial facilities, and mixed-use campuses. We create state-of-the-art life science centers through our Breakthrough Properties joint venture, and foster innovation through our strategic proptech investments. With global vision, on-the-ground expertise and a personalized approach, we are unparalleled in our ability to foster innovation, quickly adapt to global and local trends and proactively anticipate our customers' evolving needs. By focusing on health and wellness, enlightened placemaking and customer-focused initiatives such as our tenant amenities platform, ZO., and our flexible space and co-working brand, Studio, we tend not just to our physical buildings, but to the people who inhabit them on a daily basis. Since our inception in 1978, Tishman Speyer has acquired, developed, and operated 522 properties, totaling 218 million square feet, with a combined value of over $129 billion (U.S.). Our current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco.
About Project Destined
Project Destined is a leading social impact platform that provides training in financial literacy, entrepreneurship, and real estate. Project Destined partners with corporations, schools, and non-profits to deliver training using its proprietary e-learning platform and live courses. Project Destined leverages a work-based learning approach where students work with executives to evaluate live deals in their community and present them in a pitch competition to industry leaders. Scholars emerge with the skills, confidence, experiences, and networks that prepare them to secure a strong first job and become stakeholders in their community.
REAL ESTATE INVESTMENT,REAL ESTATE ADVICE
The REMM Group | December 21, 2022
For the third year in a row The REMM Group has won a top 10 nationwide ranking on the Best Places to Work Multifamily® list. The REMM Group was awarded the honor at the Multifamily Innovation® Summit Scottsdale, AZ. Winners are selected after rigorous research and interviews conducted by Multifamily Leadership.
The multifamily industry contributes $3.4 trillion dollars to the economy annually, supporting more than 17.5 million jobs. Talent recruitment for those jobs is competitive. The Best Places to Work Multifamily ranking helps job seekers choose companies that prioritize employee satisfaction. The REMM Group is a 3rd party management company, providing full service multifamily and commercial management for real estate owners in Southern California.
"We are honored that Multifamily Leadership ranked us in the top ten Best Places to Work Multifamily Nationally for the third year in a row. Great people make all the difference in property management. Building a team of engaged, caring and skilled employees takes more than just providing a good paycheck. The in-depth interviews and research done as part of this award process helps us evaluate our culture, innovations, and policies to make sure they are hitting the mark with our team members."
-Sara D'Elia, CEO of The REMM Group
The REMM Group's Vice President of Marketing and Technology, Windell Mollenido, added, The REMM Group is on The Best Places to Work Multifamily list year after year because we constantly look for ways to improve. The reports show us what support our team members find most relevant and where we might need to make changes. In our constantly evolving industry, we need to stay vigilant to what matters today for our employees, this data helps us do that.
Our vibrant and supportive culture allows us to recruit the best talent, Those caring team members make sure the residents and owners of the communities we manage are happy and thriving. That simple formula is a key to our success,said D'Elia.
The REMM Group has over 5,000 apartments under management. They are an IREM Accredited Real Estate Management Organization (AMO) providing lease-up and property management for multifamily, mixed-use, office, industrial, retail, and BTR properties in Southern California.