REAL ESTATE INVESTMENT
Capital Square | December 24, 2021
Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced today the acquisition of a recently constructed, Class A, 200-unit multifamily community in Midlothian, a suburb of Richmond, Virginia. The community was acquired on behalf of CS1031 Artistry at Winterfield Apartments, DST.
Artistry at Winterfield is another superb addition to Capital Square's growing portfolio of Class A apartment communities in the Southeast to Texas, Located in Midlothian, Virginia, a short drive on Highway 288 from Capital Square's headquarters, Artistry is located in a well-to-do neighborhood with a median household income of $172,916 within a one-mile radius, according to Yardi Matrix. And the icing on the cake – 19.6% rent growth in the submarket, the highest year-over-year rent growth in the region, as of August 2021.* Artistry should provide investors with stable income during the holding period and exceptional appreciation potential."
Louis Rogers, founder and chief executive officer of Capital Square.
Located at 1000 Artistry Drive, the community is located 15 miles from downtown Richmond. Proximate to Highway 288, Artistry at Winterfield offers residents convenient access to multiple retail and dining options within Midlothian, including Target, Kroger, Wegman's, Sam's Club and more.
Artistry at Winterfield offers one- and two-bedroom units with spacious floorplans that feature top-of-the-line finishes, including stainless steel appliances, in-unit washer and dryers, walk-in closets as well as private patios and balconies.
Amenities at the community include a clubhouse, resort-style swimming pool and fitness center. Additional amenities include a resident lounge with a pool table as well as a business center.
CS1031 Artistry at Winterfield Apartments, DST seeks to raise $35.2 million in equity from accredited investors and has a minimum investment requirement of $50,000.
Artistry at Winterfield is located in Midlothian, a thriving suburb of Richmond, The population within a five-mile radius of Artistry at Winterfield is projected to increase 4.09% in five years.* Capital Square is bullish on the Richmond MSA, not only for its proximity to our firm's headquarters, but also due to its exceptional market fundamentals and notable growth."
Whitson Huffman, chief strategy and investment officer.
Since its founding in 2012, Capital Square has acquired 144 real estate assets for over 3,800 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable cash flow and capital appreciation.
About Capital Square
Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges and qualified opportunity zone funds for tax deferral and exclusion. Since 2012, Capital Square has completed approximately $4 billion in transaction volume. Capital Square's executive team has decades of experience in real estate investments. Its founder, Louis Rogers, has structured hundreds of investment offerings totaling in excess of $5 billion. Capital Square's related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high net worth investors, private equity firms, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for five consecutive years. Additionally, in 2021, the company was ranked 101st on the list of Inc. 5000 Washington D.C. Metro's Fastest-Growing Private Companies. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense's list of fastest growing companies. Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" report in 2019 and 2021 as well as on their "Fantastic 50" reports in 2019 and 2020.
REAL ESTATE TECHNOLOGY
Welltower Inc. | March 07, 2022
A joint venture between Related Companies and Atria Senior Living, in conjunction with Welltower Inc., this quarter signed a strategic partnership to develop two world class senior living communities in Silicon Valley, one in Santa Clara, CA (Santa Clara Development) and the other in Cupertino, CA (Cupertino Development), as part of a larger strategic partnership among the three companies. The Related|Atria JV was formed in 2018 to develop, own and operate modern urban communities catering to seniors living in major metropolitan areas. The Santa Clara and Cupertino Developments will be the third and fourth locations for the joint venture's new series of upscale senior living communities after the newly opened Coterie Cathedral Hill at 1001 Van Ness in San Francisco and Coterie Hudson Yards at 451 10th Avenue in New York City which will open later in 2022.
The 191-unit Santa Clara Development is immediately adjacent to a larger fully entitled 9.2 million square foot urban development by Related who commenced entitlement and pre-development work on the urban plan in 2015. Related Santa Clara will create an unparalleled new mixed-use downtown for Silicon Valley, consisting of traditional office and medical office buildings, hotel rooms, multifamily housing and retail amenities. At the apex of Silicon Valley and the growing East Bay, the Santa Clara Development is conveniently located to numerous commuting options, including a wide variety of public transit and proximity to Highways 237, 101 and Interstate 880. The senior living development is expected to break ground mid- 2022 with completion projected by 2024.
Pre-development of the 158-unit Cupertino Development began in 2019 with plans of construction start by the end of 2022 and completion in 2024. Situated on a well-located corner of Stevens Creek Boulevard, Cupertino's major thoroughfare and State Route 85, as well as adjacent to the Cupertino Senior Center, Cupertino Memorial Park, and De Anza College, this development will grant seniors unrivaled access to the best of Cupertino's amenities with convenient connectivity to Silicon Valley. The Cupertino Development will also include an outdoor community park.
Welltower Inc., an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. Welltower, a real estate investment trust (REIT), owns interests in properties concentrated in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing and post-acute communities and outpatient medical properties. More information is available at welltower.com. We routinely post important information on our website at welltower.com in the "Investors" section, including corporate and investor presentations and financial information. We intend to use our website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Such disclosures will be included on our website under the heading "Investors." Accordingly, investors should monitor such portion of the company's website in addition to following our press releases, public conference calls and filings with the Securities and Exchange Commission. The information on our website is not incorporated by reference in this press release, and our web address is included as an inactive textual reference only.
About Related Companies
Related Companies is a global real estate and lifestyle company defined by innovation and the most prominent privately-owned real estate firm in the United States. Formed over 45 years ago, Related is the largest private owner of affordable housing and a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi and London, and boasts a team of approximately 4,000 professionals. Related was recently named to Fast Company Magazine's list of the 50 Most Innovative Companies in the World.
Atria Senior Living is a leading operator of independent living, assisted living, supportive living and memory care communities in more than 400 locations in 45 states and seven Canadian provinces. With the addition of Holiday Retirement to its portfolio in 2021, Atria is now the residence of choice for more than 43,000 older adults, and the workplace of choice for more than 17,000 employees. In 2022, J.D. Power ranked Atria #1 in customer satisfaction among assisted living and memory care communities. Atria creates vibrant communities where older adults can thrive and participate, know that their contributions are valued, and enjoy access to opportunities and support that help them keep making a positive difference in our world. Atria operates seven distinct senior living brands: Coterie a luxury brand in a joint venture with Related Companies, Atria Signature, Atria Senior Living, Atria Park, Holiday Retirement, Atria Retirement and Gladwell. Atria's subsidiary, Glennis Solutions, is the only fully integrated cloud-based software suite specifically designed to serve the senior housing industry.
REAL ESTATE TECHNOLOGY
InspectionGo (iGo) | April 06, 2022
InspectionGo (iGo), provider of technology and services to the home inspection industry, announces the launch of iGo Network, a national platform for real estate agents, consumers, and investors to order home inspections through a digital, but human-enhanced, booking service.
iGo Network was created to make property inspection booking and delivery more accurate and efficient, and solves the geographical fragmentation in the inspection industry. For real estate or technology companies seeking inspection services across multiple markets, iGo Network provides a central, digital solution for tapping into reputable inspectors nationwide. Participating inspectors meet ongoing service standards and are committed to maintaining a high bar for E&O and general liability insurance.
We are excited to launch iGo Network. The majority of home inspections today are ordered via a 12-minute phone call, making it cumbersome and error prone. We are changing this, and now with a modern national platform, the inspection can be incorporated into a more cohesive and enjoyable consumer journey."
Celeste Starchild, COO of iGo
Every inspection booked through iGo Network comes with a repair estimate report from Repair Pricer – the industry's most accurate AI-powered home repair cost calculator. With an accuracy rate of 98%, Repair Pricer reduces time and stress associated with gathering repair estimates from contractors during a critical time in the closing process.
"We are thrilled to join forces with iGo to launch iGo Network," said Christian, co-founder of Repair Pricer. "Agents have been asking us for years for an easy way to book with inspectors that will provide them with Repair Pricer reports as standard. iGo Network not only meets this demand, but it brings best-in-class tools and services together to deliver a game changing experience for the industry as a whole."
Inspection companies gained advance access to join the iGo Network at iGo's annual conference in February, where more than 400 inspectors signed up for the platform. With dozens of market-leading multi-inspector firms participating at launch, iGo Network is positioned to bring a higher level of professionalism and standards to the industry.
For inspectors, iGo Network provides a source of new business without compromising control and confidentiality of their client data. "The inspection industry needs a trusted partner to meet the opportunities of the future. I believe that partner is iGo, and Axium Inspections is proud to be a founding member of the iGo Network," said Wade Williamson, CEO of Axium Inspections.
About InspectionGo (iGo)
iGo, is a leading provider of technology and services for the home inspection industry. iGo's vision is to empower home owners and their agents with professional, digitally driven home inspection services and actionable insights about their homes, making home ownership more joyful. Based in Tyrone, PA, iGo also operates iGo Community, the nation's largest business coaching group for inspection company owners, iGo Academy, the gold standard for home inspector education in 17 states, and iGo Booking, the nation's foremost home inspection booking service.
About Repair Pricer
Repair Pricer is an AI-powered repair estimator that can turn any inspection report into a highly accurate fully-interactive repair estimate. The buyer's agent receives this report, with the option to modify the final display for their buyer. Customizable, universal, automated and secure, Repair Pricer is demanded by real estate professionals and investors nationwide.
REAL ESTATE TECHNOLOGY
Yardi Breeze | April 04, 2022
Following a very successful inaugural event in 2021, Yardi is hosting the REfresh user conference on April 6-7, 2022. This virtual event is free to Yardi Breeze and Yardi Breeze Premier clients in the U.S. and Canada.
With over 6,000 companies now on Breeze or Breeze Premier, thousands of users are once again expected to attend the event featuring more than 85 on-demand classes, spotlight sessions and an exclusive keynote presentation by Nikki Greenberg, an influential real estate futurist and thought leader.
The goal is to empower property owners, managers and investors with the information and tools they need to succeed. (And maybe have a little fun while they are it.) Attendees can learn more about their Breeze or Breeze Premier software and see how they can expand their platform with other key Yardi products designed to help them better market their properties, find quality residents and tenants, protect their assets and improve their operations through innovation and automation.
Clients are automatically preregistered for REfresh. They only need to log in to their Breeze or Breeze Premier system on April 6-7 and click on the conference link to learn and connect. Attendees can engage with peers and Yardi experts via live chat. Plus, anyone who signs in will find multiple ways to win prizes!
Yardi develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide.