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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 their startup offers can cost up to hundreds of thousands of dollars a year, but TermSheet can get investors started at no cost. Author admin View all posts

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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, asset management and construction management expertise to the new role. Before joining Avenue5, she held leadership roles at Compass Acquisition Partners and TruAmericaMultifamily, among other firms. Author admin View all posts

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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- and two-bedroom units with luxury touches, including hardwood flooring, quartz countertops, stainless steel appliances and balconies or patios. FCP is a privately held real estate investment company based in Chevy Chase, Maryland, that has invested in or financed more than $6 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. Author admin View all posts

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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 of the world’s leading hydrologists, researchers and data scientists from First Street Foundation; Columbia University; Fathom; George Mason University; Massachusetts Institute of Technology; Rhodium Group; Rutgers University; The University of California, Berkeley; and the University of Bristol. Building upon their decades of peer-reviewed research and model outputs, as well as data from FEMA, the USGS, NOAA and other government agencies, the collaborators were able to create the country’s first publicly available comprehensive flood risk model. The model identifies the likelihood of previous flooding by recreating 55 past hurricanes, tropical storms, nor’easters and major inland flooding events. A lack of disclosure laws in many states makes this information difficult or impossible to find. The model also calculates the current probability of tidal, storm surge, pluvial (rainfall) and fluvial (riverine) flooding for individual homes and properties. In addition to current risk, future risk is calculated by incorporating anticipated environmental changes like sea-level rise, changing precipitation patterns, and warming sea surface and atmospheric temperatures. Author admin View all posts

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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 trust and member of the S&P MidCap 400 Index. It has more than seven decades of experience developing, acquiring and managing office and mixed-use projects. The company has a major presence in San Diego, greater Los Angeles, the San Francisco Bay Area and the Pacific Northwest. Kilroy owns and manages over 14 million square feet of office, mixed-use, including residential, and life science projects and has more than 7 million square feet of projects under construction or in the future pipeline. Tenants include Amazon, Microsoft, Viacom, Netflix, Sony, Dropbox, Neurocrine and Adobe. The company is listed in the Dow Jones Sustainability World Index and has been lauded by industry organizations around the world for innovation and leadership in sustainable development. Kilroy’s stabilized portfolio is currently 65% LEED-certified with 70% of eligible properties ENERGY STAR-certified. Additionally, Kilroy’s properties are pursuing WELL and Fitwel certifications and IWBI Health Safety Ratings where applicable. Author admin View all posts

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Using a new technology solution from ServiceLink, borrowers can complete home inspections from the comfort and safety of their homes. The new mobile app, EXOS Inspect, uses a patent-pending technology featuring the latest artificial intelligence and an intuitive user interface that allows homeowners to complete secure video inspections for critical aspects of the lending and servicing process. The app is designed to guide homeowners through a step-by-step process, using any compatible smartphone or tablet, to complete a video inspection of a room and highlight home improvements in less than a minute. Geo-fencing, time-stamping and AI technology ensure data accuracy. A privacy feature identifies and screens out specific visuals, such as people, most family photographs and many religious objects. EXOS Inspect can be used as a standalone app or incorporated into a lender’s existing digital consumer experience. In addition to releasing EXOS Inspect, ServiceLink recently upgraded the EXOS Close solution, which now supports virtual closing options in all 50 states and the District of Columbia for refinance and home equity loans. Author admin View all posts