August 2020 – Page 2

Pembrook Provides $12.4 Million Loan for Staten Island Properties

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Pembrook Capital Management has provided a $12.4 million loan for the acquisition and rehabilitation of 100 Belmont Place and 101 Daniel Low Terrace in Staten Island. The two adjacent rent-stabilized apartment buildings house 12 apartment units. The buildings will be converted to long-term rent-regulated properties through New York City’s Article XI Tax Incentive Program. The plan is designed to encourage new construction or rehabilitation of affordable housing. The property will

Real Estate Startup Rolls Out Data and Workflow Solutions

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TermSheet, a private-equity backed real estate software company, has launched an end-to-end real estate deal management platform. The company provides investors with tools for prospecting, managing and executing real estate transactions. Designed to streamline the life cycle of a real estate transaction, TermSheet provides real estate investors with a platform that manages real estate investors’ pipelines, documents, tasks, contacts and data. TermSheet COO Sahil Rattan noted that the alternative solutions

Lynn Owen Appointed EVP of Avenue5 Client Strategy

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Avenue5 Residential, a multifamily property management services firm, has named Lynn Owen as its executive vice president of client strategy. In this newly created role, Owen will lead Avenue5’s portfolio services and business development teams, broaden the firm’s suite of client services, make business optimization recommendations to clients and enhance underwriting and acquisition models to assist clients in evaluating investment opportunities. Owen brings decades of multifamily and commercial property management,

FCP Enters Phoenix Market with Multifamily Acquisition

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FCP has acquired Tides at South Tempe for $71.5 million through a joint venture with Tides Equities, a real estate investment company focused on multifamily investments. The 442-unit apartment community is FCP’s first investment in Arizona. Tides at South Tempe is located close to Superstition Freeway and Interstate 10, proximate to major job centers, downtown Tempe, downtown Phoenix and the Phoenix Sky Harbor International Airport. The community features studio, one-

Data Discloses Flood Risk of Every Home in Contiguous U.S.

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The nonprofit research and technology group First Street Foundation has publicly released flood risk data for more than 142 million homes and properties across the U.S. The data is based on decades of peer-reviewed research. It assigns every property in the contiguous U.S. a Flood Factor score from 1 to 10, based on its cumulative risk of flooding over a 30-year mortgage. The model was developed by more than 80

Kilroy Realty Named NAIOP 2020 Developer of the Year

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Kilroy Realty Corporation has been named NAIOP’s 2020 Developer of the Year. NAIOP is the Commercial Real Estate Development Association. Since 1979, the Developer of the Year award has been presented to a development company that best exemplifies leadership and innovation. It is NAIOP’s highest honor. The award will be presented during NAIOP’s CRE. Converge October conference in Las Vegas. Kilroy Realty Corporation is a publicly traded real estate investment