UK property prices set to fall this year but pick up gradually from 2020 onwards

PwC | July 23, 2019

The UK housing market has slowed significantly in recent years, particularly in London and the South East where price growth is predicted to be negative in 2019, according to a new analysis. But house prices could start to pick up again gradually from 2020 onwards if an orderly Brexit can be delivered, but there is considerable uncertainty around this outlook at present, says the latest economic outlook report from PwC.

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Our CEO Jason Kothari speaks to Abha Bakaya of Bloomberg TV India about restructured operations, working on building blocks, and already being on track for $10MN revenue in less than a year. He explains how we’re preparing Housing.com to take full advantage of the pickup in India’s real estate market.


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REAL ESTATE TECHNOLOGY

Broadmark Realty Capital Expands and Further Strengthens Board of Directors

Broadmark Realty Capital | April 26, 2022

Broadmark Realty Capital Inc., an internally managed secured real estate finance company, announced that it is strengthening its Board of Directors with the addition of a new independent director, Pinkie D. Mayfield, effective today. Ms. Mayfield’s addition increases the size of the Board of Directors to eight members, including six independent directors. We are very pleased to expand and further strengthen our Board of Directors. We welcome Pinkie and look forward to benefitting from her extensive experience in public relations, corporate affairs and investor relations. Pinkie will complement our already strong group of directors as we look to expand our business, execute our strategy to provide capital solutions for our customers, and maintain our commitment to our communities and the Company's stakeholders.” Dan Hirsch, Chairman of Broadmark’s Nominating and Corporate Governance Committee Ms. Mayfield has been Chief Communications Officer and Vice President of Corporate Affairs at Graham Holdings Company (formerly The Washington Post Company), a diversified conglomerate whose principal operations include education and media. In her current role since 2018, Ms. Mayfield is responsible for corporate affairs, public relations, communications and strategic initiatives. Since joining Graham Holdings in 1998, she has held a number of executive leadership positions. Prior to joining Graham Holdings, Ms. Mayfield was a Vice President and Trust Officer at NationsBank (now Bank of America) in the Investment Services Division. A director of Founders Bank, a Washington D.C.-based community bank, she has chaired the audit committee since joining the board in 2020. Ms. Mayfield also serves as treasurer of the board of directors of the District of Columbia College Access Program and a trustee of the Philip L. Graham Fund. Ms. Mayfield graduated magna cum laude with a BA in business administration from Trinity Washington University and earned an MBA from the University of Maryland University College. About Broadmark Realty Capital Broadmark Realty Capital Inc. is a specialty real estate finance company, providing financing solutions generally in the $2 to $50 million range across the entire debt capital stack for commercial and residential real estate opportunities throughout the United States. Broadmark is particularly well equipped to address complex financing requirements that require rapid response, investing across a variety of market conditions and economic cycles.

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REAL ESTATE INVESTMENT

Titan Development Announces First Speculative Industrial Building at Westpointe40 Business Park in Albuquerque

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.

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REAL ESTATE TECHNOLOGY

Dynamic City Capital Acquires a Florida AC Hotel by Marriott

Dynamic City | February 25, 2022

Dynamic City Capital (DCC), a Utah-based real estate investment firm focused on acquiring and developing premium-branded hotels, announced its acquisition of the AC Hotel by Marriott Fort Lauderdale Beach. The hotel is located on Alhambra Street, adjacent to Sebastian Street Beach. The Fort Lauderdale Beach AC Hotel is a beautiful hotel situated in an ideal location. In addition, this purchase aligns with our strategy of acquiring and developing high-quality, branded hotels in core markets. It is a perfect complement to our portfolio." Joel Sybrowsky, DCC's co-managing partner. The AC Hotel by Marriott Fort Lauderdale Beach features spectacular vistas of the Atlantic Ocean and the Intracoastal Waterway. Just steps from Sebastian Beach and minutes from Fort Lauderdale Beach, the hotel provides easy access to a variety of activities: watersports, eclectic shops, celebrated restaurants, and renowned entertainment. The ten-story hotel features 171 rooms, a resort-style pool with cabanas, dining services, a lounge, and spacious conference rooms for business meetings and private parties. The acquisition of the AC Hotel by Marriott Fort Lauderdale Beach follows the company's announcement of the purchase of two Clearwater Beach, Florida, hotels at the end of 2021 and a San Francisco hotel last month. As a company, we are excited to add this hotel to our portfolio, furthering our growth. We are thrilled with the assets we've acquired this year, thanks to a fantastic team and great partners." Sybrowsky About Dynamic City Capital Dynamic City Capital (DCC) is a privately held real estate investment and asset management firm with three decades of experience in hospitality. During its 30+ year history, DCC has placed hundreds of millions of dollars of capital on behalf of its investment partners. After opening the first Marriott® franchised hotel in the state of Utah in 1991, DCC has been involved in the development, acquisition, and management of hotel assets throughout the United States, representing the premium-branded hotel families of Hilton®, Hyatt, IHG®, and Marriott®.

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REAL ESTATE INVESTMENT

Walker & Dunlop Structures $302 Million in Financing for 10-Property Apartment Portfolio in Connecticut

Walker & Dunlop, Inc. | March 08, 2022

Walker & Dunlop, Inc. announced that it structured $302,241,000 in Freddie Mac financing for a portfolio of ten multifamily properties in central Connecticut. The portfolio comprises 2,286 units in total, over 75% of which qualify as mission-driven, affordable housing under Federal Housing Finance Agency (FHFA) guidelines. Taylor Williams, Managing Director in Walker & Dunlop's Capital Markets group, structured the financing on behalf of Beachwold Residential, a repeat client and family-owned real estate company headquartered in New York City. The team provided support to the client throughout the entire deal process, working to ensure the latest rental rate increases were captured in the appraisal and underwriting processes. The new loan effectively provided the borrower with an attractive fixed rate and additional proceeds. Taylor Williams and his team are experts. They provided clear and prescient guidance throughout the process, and their reaction time to any queries we had was exceptional. They are truly professionals when it comes to dealing with this type of transaction." Gideon Friedman, CEO of Beachwold Residential "It was an honor to be chosen for this transaction by Gideon Friedman and the Beachwold team," Mr. Williams added. "We were able to effectively execute the deal with an excellent rate, thanks to our skilled team and solid partnership with Freddie Mac." The ten-property portfolio is comprised of a diverse and unique set of communities with construction dates ranging from 1926 to 2008. The oldest property, 278 Main, was originally a schoolhouse, which was converted to apartments. Another distinctive property is Lofts at the Mills, a former mill that was recently converted to loft apartments. Most of the properties within the portfolio are situated in irreplaceable infill locations throughout Connecticut. Walker & Dunlop was the top provider of capital to the U.S. multifamily market in 2020, and in 2021 the firm originated $49 billion in debt financing volume, including lending over $42 billion for multifamily properties. About Walker & Dunlop Walker & Dunlop 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.

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Spotlight

Our CEO Jason Kothari speaks to Abha Bakaya of Bloomberg TV India about restructured operations, working on building blocks, and already being on track for $10MN revenue in less than a year. He explains how we’re preparing Housing.com to take full advantage of the pickup in India’s real estate market.

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