Scotland and Wales saw higher rent growth than rest of UK in 2018

Landbay | January 14, 2019

The average rent for a property in the UK increased by just 0.96% in 2018 but the lettings markets in Scotland and Wales are stronger, the latest index report shows. Rents increased by 0.91% in England but this was surpassed by annual growth of 1.57% in Wales, by 1.48% in Scotland and by 0.75% in Northern Ireland, according to the Landbay rental index.

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Real Estate is often overlooked in the Merger & Acquisition process. By considering the six areas below, you can offset restructuring cost and facilitate a faster and smoother integration process so you are ready for Day 1 and beyond.


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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.

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REAL ESTATE ADVICE

Douglas Elliman Expands into Basalt, Colorado

Douglas Elliman Realty | July 27, 2022

Douglas Elliman Realty, one of the largest independent residential real estate brokerages in the United States, announced today that it has expanded its footprint in Colorado. With the opening of a new office in Basalt — its fourth office in the state — the company is well positioned to bring its market expertise and unparalleled service to the Mid-Valley communities of Basalt, Carbondale and Glenwood Springs, near Aspen where Douglas Elliman consistently sets record-breaking sales. Located at 310 Market Street, the 800-square-foot office will provide space for both agents and staff members. With more than 330 active listings, the Mid-Valley is poised to exceed the $943 million in total sales volume generated in 2021. *Statistics provided by Land Title Guarantee and Aspen Glenwood MLS. "Like the increasing numbers of homebuyers and investors drawn to the region, we see tremendous opportunity in Colorado's Mid-Valley, With the current inventory and growing demand for new developments, we expect to substantially increase our market share." Scott Durkin, CEO, Douglas Elliman Realty As a result of remarkable sales activity in nearby Aspen over the past two years, numerous Aspen sellers have taken their financial gains and migrated to the Mid-Valley. And with two luxury country clubs—The Roaring Fork Club in Basalt and Aspen Glen in Carbondale—the region has become a draw for out-of-state buyers, including from Texas. "Our strong sales in Aspen propelled Douglas Elliman to the number two position in overall market share," said Stephen Kotler, CEO of Douglas Elliman Realty's Western Region. "Our new presence in Basalt combined with our ability to leverage our national and international referral network positions us to replicate that success in the Mid-Valley." "With the increased demand for new inventory, numerous development projects are currently under construction or scheduled to break ground over the next 12 months," said Edmund Foran, Executive Manager of Sales and Managing Broker, Aspen and Snowmass Village, for Douglas Elliman Realty. "Having a visible presence in the Mid-Valley will enhance our ability to secure new listings." Some of Elliman's current listings in the Mid-Valley communities include 5616 County Rd 100 in Carbondale listed by Amy Doherty and Julia Herman for $9.8 million, 227 Sage Rim Circle in Basalt listed by Mary Kate Farrell for $9.925 million, 1270 County Road 240 in Glenwood Springs, a 1123 acre ranch on the Colorado River listed by Michael Latousek for $38.647 million and 2561 Frying Pan Road in Basalt, featuring 137 acres and half a mile of frontage of Gold Medal fly fishing on the Frying Pan River for $15.95 million also listed by Michael Latousek. About Douglas Elliman Inc. Douglas Elliman Inc. (NYSE: DOUG, "Douglas Elliman") owns Douglas Elliman Realty, LLC, which is one of the largest residential brokerage companies in the United States with operations in New York City, Long Island, Westchester, Connecticut, New Jersey, the Hamptons, Massachusetts, Florida, California, Colorado, Texas and Nevada. In addition, Douglas Elliman sources, uses and invests in early-stage, disruptive property technology ("PropTech") solutions and companies and provides other real estate services, including development marketing, property management and settlement and escrow services in select markets.

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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.

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REAL ESTATE TECHNOLOGY

HomeJab Debuts Novel Real Estate Agent Marketing Method That Creates Real-Estate-Backed-NFTs to Promote Home Sales

HomeJab | July 14, 2022

HomeJab, which provides real estate agents on-demand professional real estate photography services nationwide, is debuting a new and novel marketing method that gives real estate agents a new avenue to promote homes for sale – using an NFT, or non-fungible token. Real estate agents who use HomeJab for professional real estate photography for their listing can now receive a free real-estate-backed-NFT of the home as part of their order. This new service from HomeJab includes promoting these NFT-backed homes for sale and listing them on the new HomeJab NFT site at nft.homejab.com. HomeJab founder and CEO Joe Jesuele emphasized that this new service for real estate agents supplements their traditional marketing efforts by exposing them to an NFT-interested audience. "For real estate agents, we provide an easy way to promote their listings to a new market of potential buyers and it doesn't cost them anything," explained Jesuele. "For crypto enthusiasts, we offer a way to purchase real world assets legally using blockchain," he added. The first NFT-backed home currently being marketed for sale on the HomeJab NFT site is in Detroit, at 20060 Canterbury Road owned by Daniel McDonald and listed for $415,000 by Lisa Virkus, a real estate agent and founder of Realty in the D. Team Title Services, owned by Web Raulston and based in Chattanooga, Tennessee, handles the title and settlement services. McDonald is a Key Advisor at Mortgage Token, which aims to be the first company that allows clients to leverage their home equity to invest in cryptocurrency. "I'm a firm believer that with digital assets such as NFTs, entire industries will benefit from being built on the Ethereum blockchain by increasing consumer transparency and transaction cost-effectiveness," home seller McDonald said. McDonald explained that blockchain, like the internet, is the new "great equalizer" and that "Web3 will level the playing field, making information and pricing inequalities a thing of the past." "Mortgage Token is an autonomous modernized lending platform bridging the gap between real estate and crypto lending. We look forward to launching before the fourth quarter of 2022 as the first lender specifically investing in cryptocurrency." Jason Yourofsky, Mortgage Token founder Jesuele noted, "Our customers will get an NFT listing for free with every photo shoot, and direct exposure to a more tech-savvy group of buyers." With the new service, an agent can bring their buyer, and the buyer would purchase the NFT, which provides them with an option to purchase the property. Buyers purchase NFTs with USD Coin (USDC), a digital currency fully backed by US dollar assets, on the Ethereum blockchain. HomeJab receives 1% on the NFT sale, with the proceeds distributed to the title company who then facilitates the closing and recording of deed. The seller and buyer agent commissions would be part of the settlement statement, like any other traditional transaction. About HomeJab HomeJab is America's leading on-demand professional real estate photography and video service for real estate pros. Lightning-fast high-end visual production offerings also include immersive 3D interactive tours, floor plan creation, affordable virtual staging, turnkey aerial services, and the creation of real-estate-backed NFTs. Its efficient one-stop-shop for real estate listings promotions at HomeJab.com features affordable and customizable shoots to create the most engaging visual content for faster home sales and enrich the listing agent's personal brand. HomeJab is available nationwide and in the U.S. and Canada.

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Spotlight

Real Estate is often overlooked in the Merger & Acquisition process. By considering the six areas below, you can offset restructuring cost and facilitate a faster and smoother integration process so you are ready for Day 1 and beyond.

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