News Updates

Realized Expands Its Popular Real Estate Investment Platform for Individuals

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In an effort to help investors meet their income needs in retirement, manage their risk, and preserve their property wealth across generations—all while managing investment property wealth like they do other investments, Realized, a technology-enabled platform that provides Investment Property Wealth Management™(IPWM), announced the launch of Realized Direct. The new division enables direct investments in individual real estate properties and builds on the company’s existing offering that provides individuals with access to securitized investment portfolios of institutional quality real estate. Through this breadth of offering—individual properties and portfolios—people have access to a host of investment options that can fit their diversified investment strategies to maximize risk adjusted returns. “Realized Direct is a natural extension of Realized’s traditional business. Investors can now use institutional quality tools and insights to select DST and direct properties. By adding the capabilities of Realized Direct, we are responding to the feedback of our investor clients who want the optionality of including direct property as part of their overall IPWM solution,” David Wieland, Realized Founder and CEO. Author admin View all posts

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Since the start of the pandemic, the number of fraudulent listings posted on the internet has been on the rise. Local authorities, Better Business Bureau’s local offices, and real estate companies warn renters looking for apartments to be extra diligent in their search and educate themselves on how to protect against rental scams. To this end, apartment search website RENTCafe.com came up with a helpful tool for renters that combines descriptions with practical advice and resources for reporting scams, as well as insight from experts. Renters navigating the internet for apartment listings often come across hijacked ads; requests to wire money up-front and without signing a contract; payment for a credit check; and the absence of any type of screening process. To avoid these scams, renters should look for verified listings, which come directly from property managers or owners. Additionally, when coming across suspicious listings, renters can do a reverse Google search by image and check other websites where that apartment is listed to find the original source. “As an apartment search website with 100% verified listings directly from property managers, we know the importance of a safe and worry-free experience for finding a home,” said Esther Bonardi, vice president of marketing at Yardi. Author admin View all posts

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As part of its strategy to advance its Real Estate Solutions Center and future business plans, real estate tech innovator Offerpad, based in Phoenix, Arizona, announced the expansion of its Executive Team. David Connelly, previously with Citigroup, joins Offerpad as the company’s new Chief Growth Officer, and from Taylor Morrison Home Corporation, Ben Aronovitch has been hired as its new Chief Legal Officer. “With the addition of David and Ben, we’ve made the best real estate team in the world even better,” said Offerpad Founder and CEO Brian Bair. “Their extensive expertise and past experience will help move Offerpad through the next exciting phase of our growth and development. Connelly now runs growth initiatives for the flourishing real estate tech company. His responsibilities include launching new revenue channels, assisting with capital markets opportunities, and helping to lead strategic partnerships for the company. As Offerpad’s new CLO, Aronovitch will lead the company’s legal, compliance and risk management functions. “Offerpad is a strategy-driven and forward-thinking company. I’m pleased to be coming on board at such a pivotal moment in the company’s development,” said Aronovitch. Author admin View all posts

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American Homes 4 Rent and Etowah Land Partners announced today that AH4R recently acquired 55 acres of undeveloped land at Etowah Shoals Village, a mixed-use, multi-generational development in Canton, Ga. AH4R has commenced land development on the site and will invest approximately $50 million in developing River Ridge, a 198 single-family rental home community that will include a neighborhood amenity center, pool and fitness facility. River Ridge will be located adjacent to River Pointe Parkway and I-575 at Exit 20. “Cherokee County is the fastest growing county in metropolitan Atlanta and we have accomplished our goal to provide well-priced housing in a ‘LIVE, WORK, PLAY’ community with the sale to American Homes 4 Rent,” says Jeff Johnson, Managing Partner of Etowah Land Partners. “We anticipate the Phase II commercial corridor to provide mixed-use service, retail and office to serve the new budding community.” “American Home 4 Rent’s new home development program invests in local communities in key markets across the country,” said Jack Corrigan, Chief Investment Officer for AH4R. “We are pleased to bring our innovative River Ridge community to the vibrant Etowah Shoals Village as we expand our presence in the Atlanta area.” Author admin View all posts

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GROUNDFLOOR, the award-winning wealthtech platform that allows everyone to build wealth through real estate, is rolling out a series of initiatives to meet the growing demand for residential real estate investment capital and opportunities to supply it. The new lending initiatives from GROUNDFLOOR include: The Loan 100 Program. Available only to the most experienced borrowers in GROUNDFLOOR’s network, the Loan 100 product provides financing for up to 100% of total project costs, including purchase and renovation. Reduced Origination Fees and Interest Rates. The reduced fees include a decrease of 1% across the board and of up to 1.5% off origination fees for qualifying borrowers. This ability to reduce fees is a direct result of GROUNDFLOOR’s increased capacity to finance larger-balance loans and by leveraging proprietary technology to streamline loan processing capacity. Full Lending Operations to 30 States. The wealthtech platform has now expanded to resume its lending programs with deferred payment options and zero interest reserves across 30 states. New Construction Loans in NC and GA. GROUNDFLOOR is offering highly flexible new construction loans with non-recourse financing and attractive interest on disbursement terms for qualified builders. Author admin View all posts

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GI Partners, a leading private investment firm, announced that it has acquired Valet Living, the largest nationally recognized, full-service amenities provider to the multifamily housing industry. GI Partners acquired Valet Living from a fund managed by the Private Equity Group of Ares Management Corporation and Harvest Partners, LP. Valet Living pioneered the doorstep waste and recycling industry and has broadened its service offering to include turns, maintenance, pet solutions, fitness, and other app-enabled resident services. Founded in 1995 and based in Tampa, Florida, Valet Living has achieved double-digit organic growth every year since its inception and currently performs more than 415 million service events annually across 1.6 million apartment homes in 40 states. GI Partners’ investment will support Valet Living’s continued innovation and nationwide expansion. “I would like to thank the Ares Private Equity team and Harvest Partners for their invaluable support and guidance over the last five years as we grew Valet Living from a doorstep waste management company to a full-service solutions provider that serves communities across the country. We are also excited to work with GI Partners to accelerate growth at Valet Living and continue to deliver exceptional living experiences to the residents of multifamily communities across the U.S.,” said Shawn Handrahan, CEO of Valet Living. “We have known the GI Partners team for many years, and through that relationship they have a deep understanding of our business and untapped growth potential. We believe strongly that their team’s experience helping to build both organically and inorganically fast-growing services businesses, will help us enhance our engagement with Valet Living’s residents, property managers, and employees.” Hoon Cho, Managing Director and Co-Head of Private Equity at GI Partners said, “We are delighted to partner with Shawn after spending many years watching him and his team build an incredible resident services platform in Valet Living. They have led the creation and growth of an entire industry focused on delivering a better resident, owner, and property manager experience, and we look forward to working with the entire Valet Living team to continue to grow the company’s gold-standard suite of products and services.” Jeff Sheu, Managing Director at GI Partners, added, “We look forward to expanding Valet Living’s leading national footprint both organically and through acquisitions of best-in-class local operators. The company’s significant investments in proprietary technology offerings that enhance the resident experience, including Valet Living Home and Interactive Doorstep, further strengthen its prominent position as the industry leader.” Author admin View all posts