News Updates

Measurabl Raises $18 Million for Expansion

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Measurabl, providers of software for commercial real estate ESG (environmental, social, governance) data management, has closed $18.7 million in Series B funding. Sway Ventures led the round after participating in the Series A. Other repeat investors include Salesforce Ventures and real estate technology specialists Camber Creek, who led the Series A, Building Ventures, Concrete Ventures, Impact Engine and DivcoWest. Major new investors included Constellation Technology Ventures, the venture investing arm of Exelon Corporation, and S&P Global, a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets. More than 30,000 commercial buildings representing nearly 7 billion square feet across 70 countries measure, manage and report ESG performance using Measurabl. The database includes everything from traditional office and industrial buildings to major sporting venues, education facilities, government campuses, data and retail centers. Measurabl will invest Series B proceeds into product research and development, partnerships and customer service. The company also plans to expand its platform to Asia, in addition to growing the European and North American markets it already serves.

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ALTLOAN, a dba of BM Real Estate Services, has announced a new capital market partner that will enable the company to widen its non-QM product menu. “Our new partner is able to provide the back-end infrastructure and operating expertise that complements our online pricing eligibility engine and self-service loan portal for Non-QM (non-agency and hard money) mortgage financing,” said Blake Scheifele, ALTLOAN’s co-president. Product offerings include jumbo prime, portfolio full doc and alternative doc, Alt-A and non-prime credit grading, investor DTI, DSCR and no doc, foreign national, bridge and fix and flip and ITIN.

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Renters Warehouse has hired Todd Jable as the company’s chief technology officer. Kevin Ortner, CEO of Renters Warehouse, said, “With his technology background coupled with single-family rental industry experience, Todd is a big addition to our leadership team. He has a great vision on where we can take not only our internal systems, but how we can shape and further improve our client experience through consumer-facing technology and tools.” As the new CTO, Jable will focus on working with employees, customers and providers to ensure that Renters Warehouse is ahead of valuable opportunities for efficiency and innovation and set strategies for the company’s information technology. “With the incredible business that Kevin and the Renters Warehouse team has built over the last 10 years, including the recent acquisition of OwnAmerica, I think that Renters Warehouse is uniquely positioned to tackle the largest segment of single-family rental investing—non-institutional,” said Jable. Jable has been in IT since launching his career and has played a role in the single-family rental industry since its inception as an institutional asset class. Before Renters Warehouse, Jable was the founding CTO for Silver Bay Realty Trust Corp. Silver Bay, which was the first public company in the SFR sector, went public in the fourth quarter of 2012. After the company sold to Tricon American Homes in 2017, Jable served as CTO of FirstKey Homes in Atlanta. Renters Warehouse is the only property management company focused on single-family rentals to be rated by Morningstar Credit Ratings, a nationally recognized statistical rating organization. Since acquiring OwnAmerica in December 2018, renters can find quality homes to lease, and investors can plan, research, buy, track and sell their real estate investments all in one place with the Renters Warehouse investor marketplace.

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Apex CRE, a boutique commercial real estate company, has started operations in the greater Phoenix market. The company focuses on buyer and tenant representation across a variety of commercial product types. Apex CRE is a service-disabled veteran-owned business founded by Alex Popovic and Lydia Chelle.

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Universe Holdings has acquired Chateau Park Casino Royale V, a 15-unit multifamily community in Inglewood, California, for $3.8 million. It is the firm’s ninth acquisition in the past four years in the area. The submarket has gained national attention as the site of the $3 billion NFL stadium that will be home to the Los Angeles Rams and Los Angeles Chargers. Located at 232 West Olive Street, the community is five minutes from the redevelopment of Hollywood Park and the new NFL stadium. Universe Holdings plans to implement a capital improvement program to bring the building’s exterior and interior units up to contemporary standards. Renovations are expected to be completed to coincide with the opening of the new stadium and entertainment complex. Universe Holdings CEO Henry Manoucheri identified Inglewood as a strong multifamily market two years before the Rams decided to make Inglewood home to the new stadium complex. Universe plans to double its portfolio in Inglewood in 2019. The company has completed investment transactions of more than 7,500 apartment units throughout the United States and abroad.