News Updates

Archrock Services to Auction Surplus Properties

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Auction firm Williams & Williams is set to auction several surplus real estate properties for energy midstream company Archrock Services on Sept. 29. Listings include warehouse, office space and land parcels. Additionally, the vacant residence in New Castle, Pennsylvania, will sell in an online-only auction at AuctionNetwork.com on Sept. 28-30. These auctions are being offered in conjunction with commercial broker JLL. The commercial properties include three land lots and two light industrial buildings in Victoria, Texas; an improved lot in Broussard, Louisiana; and office/warehouse/shop property in Belle Chasse, Louisiana. Public inspections of the buildings in Victoria, Texas, and Belle Chasse, Louisiana, are scheduled for Sept. 11 and Sept. 18 from 11 a.m.-2 p.m. The public inspection for the residence is New Castle is Sept. 13 from 1 p.m.-4 p.m. The auctions are open to the public. No bidder deposit is required to participate. Online bidding is available simultaneously with the live auctions at AuctionNetwork.com. For a complete list of properties, sale times, locations and terms, please visit the auction website: https://www.williamsauction.com/ARCHROCK.

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Toorak Capital Partners has hired Kevin Tatro as head of asset management and reporting and Stephen J. Tyde Jr. as head of special servicing. Tatro brings more than 30 years of experience in asset management and commercial real estate debt to Toorak. Most recently he served as principal and head of asset management at Woodbridge Investments. He’s also held leadership positions atMacquarie Group, Doral Group,Landesbank Baden-Württemberg and J.P. Morgan Investment Management. Tyde’s experience is in whole loan workouts, special servicing and REO. Previously, he served as a director with Rialto Capital Advisors and has held leadership positions at DLP Real Estate Capital, Pulte Homes, Beazer Homes and Levitt & Sons. Tyde has also been an attorney specializing in real estate and commercial litigation, land use, zoning and bankruptcy.

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National Land Realty (NLR) and LandGate (LG) have announced a strategic partnership to expand services, data intelligence and marketing capabilities within the land industry. The combination of LandGate’s data intelligence and NLR’s network of agents will create a major marketplace for all land transactions, with the largest number of listings from farmers, ranchers and landowners. The platform will provide an estimated value for every parcel of land, including multiple resource segments such as minerals, solar, wind, water, recreation and other factors. The valuations, nearby listings and sales are provided to both buyers and sellers for transparent and easy online market transactions. Craig Kaiser, president of LandGate, called the new platform “the Zillow for land resources.” NLR specializes in farm, ranch, country estates, timber, recreational and commercial development properties. It offers a proprietary land touring technology called Land Tour 360 and a GIS land mapping system called LandBase that catalogues land data in detailed ways. LG, founded in 2016 in Denver, is the first and only U.S. marketplace for mineral, solar, wind, water and property rights, providing free data intelligence to landowners and buyers. The company has digitized land resources valuations and applies its technologyto provide an online marketplace, appraisal services, and SaaS solutions.

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One of the country’s largest mortgage service providers, Mr. Cooper, has transitioned itsportfolio to CoreLogic’s DigitalTax Platform. The move is designed to provide Mr. Cooper’s customers with best-in-class digital, data-driven solutions. “Mr. Cooper is known for its innovation and operational excellence, and we are honored to have been selected as the company’s partner,” said Frank Martell, president and CEO of CoreLogic. “Our goal is to help Mr. Cooper streamline critical workflows and support its efforts to deliver a world-class experience to its customers.” With its cloud-based DigitalTax Platform, CoreLogic has transformed what has historically been a paper-based process into an automated and streamlined workflow. Tighter integration with the nation’s 22,000 taxing agencies is intended to facilitate near real-time tax data exchange, resulting in reduced exceptions, increased accuracy andefficiency, and a significantly improved client experience. The CoreLogic DigitalTaxPlatform is designed to deliver transparency into key data, enabling lenders to make dynamic payment decisions and optimize their portfolio and cash management.

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RLAH Real Estate has joined with Tower Hill Realty to allow growth “in ways that neither of us could have done alone,” said Patrick Kilner of Tower Hill. Kilner will be taking on the role of director of education. Tower Hill Realty is led by very special people,” said RLAH’s CEO Jason Sherman, referencing Kilner, Tamara Kucik and John Kirk. Combined RLAH will now hold Top 5 market share within Montgomery County, Maryland.

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The CoStar Group has announced the Power Brokers Quarterly Deals winners for the second quarter of 2020. Dennis Hopper, the managing principal of DSH Hotel Advisors, came out on top of the list of winners in the hotel sector within a defined market. Power Brokers Quarterly Deals’ winners are determined by their top deals in specific major markets each quarter, based on sales price and square footage. Hopper said, “COVID-19 has really slowed down the volume of hotel transactions this year; however, we are still averaging between 7-10 offers on every exclusive listing assignment, which is allowing us to move deals to contract and get them closed. There is still a large portion of buyers sitting on the sidelines waiting to see what happens with the market or hoping for big discounts, but there is also a segment of buyers that remain optimistic about the recovery and are willing to pay fair prices for hotels based on 2019 valuations with a 5-15% discount applied—for the right property.” DSH Hotel Advisors is a national hotel brokerage and advisory firm based out of Tampa, Florida. The firm exclusively represents investors seeking an acquisition or disposition of hotel assets throughout the U.S., with a regional focus in the southeast.