vice president – Talktalk China http://talktalkchina.com/ Mon, 14 Mar 2022 16:00:02 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://talktalkchina.com/wp-content/uploads/2021/10/icon-2-120x120.png vice president – Talktalk China http://talktalkchina.com/ 32 32 Residential real estate boom paves way for increased retail demand – Real Estate & Construction https://talktalkchina.com/residential-real-estate-boom-paves-way-for-increased-retail-demand-real-estate-construction/ Mon, 14 Mar 2022 16:00:02 +0000 https://talktalkchina.com/residential-real-estate-boom-paves-way-for-increased-retail-demand-real-estate-construction/ United States: Residential real estate boom paves way for increased retail demand March 14, 2022 Allen Matkins Leck Gamble Mallory & Natsis LLP To print this article, all you need to do is be registered or log in to Mondaq.com. After years of pessimism about the retail market, industry leaders […]]]>


United States: Residential real estate boom paves way for increased retail demand

To print this article, all you need to do is be registered or log in to Mondaq.com.

After years of pessimism about the retail market, industry leaders report growing optimism about demand for retail space in the Allen Matkins Winter 2022 Survey/ UCLA Anderson Forecast California Commercial Real Estate Survey. According to the survey results, retail developers have strong growth opportunities across the state, especially in areas where booming residential development is increasing demand for retail businesses. The greatest levels of optimism came from respondents in East Bay, Silicon Valley, Orange County and San Diego – markets with low unemployment rates.

The WarnerExecutive Vice President of Capital Markets, Retail for Colliers International, and Anthony Burney, Real Estate Partner at Allen Matkins, discuss takeaways from the survey and what lies ahead for this sector.

1. Retail benefited from the strength of the multifamily market

During the pandemic, there was a noticeable shift in population from urban areas to suburban neighborhoods, where people could disperse. These new residents were not just buying single-family homes; they have also increased the demand for multi-family properties. This created additional foot traffic for places like grocery stores, gyms and salons. “The strength of multifamily has benefited from the development of retail,” Burney says, adding, “Retailers who have been able to provide these services have been successful during the pandemic.”

According to Burney, the influx of young residents moving to the suburbs has created many opportunities for retailers. Its customers reported an increase in foot traffic during the week as people shopped more frequently, often during their lunch breaks and after work. Returning to the office is still uncertain for some companies, and employees who continue to work from home will likely continue these new shopping practices well into 2022.

2. Neighborhood malls are booming

Warner expects the strongest growth in 2022 to occur in cities that have been hardest hit during the pandemic, such as San Francisco, Boston and Washington, DC. “Most of the other markets have rebounded,” he said. Like Burney, he sees growth in neighborhood malls. “The spaces anchored in groceries and net leases are still strong,” he says.

“Development is back,” says Warner. “We’re starting to be able to build those assets for optimal use.” This includes multi-family and mixed-use spaces as well as brick-and-mortar retail. Construction costs can affect how quickly these projects come to fruition, as there are still significant fluctuations and inflation in the price of materials. However, local governments are actively working to support these efforts to generate tax revenue from retail revenue.

3. The commercial space market is changing

The recent growth in retail is very directly linked to the pandemic. Local restrictions, population movements and competition from e-commerce sites have forced retailers to reconsider their operations. They are looking for a space that allows for more outdoor concepts in a post-COVID world. So developers are working feverishly to reconfigure spaces to meet these new demands.

According to Warner, the shopping center sector is finally showing signs of stabilization. Landlords and property developers have redeveloped spaces, and the supply of vacant malls is eventually dwindling as rental demand increases. He adds, “Owners now have a great opportunity to sell their land and buildings.”

4. The retail sector still has potential for investors

The retail market has changed over the past few years and Warner believes it was undervalued at the start of the pandemic. “It took a pandemic to prove the resilience of the sector,” he adds. “Asset classes across the sector are showing strong rental and investment activity.” More stores opened last year than closed – the first time since 2015. He notes the $20 billion investors invested in retail space during the third quarter of last year to highlight this point.

Burney saw a similar move. “Trading volume over the past 12 months has been significantly higher than it has been over the past two years,” he said. So far, rents haven’t risen as much as landlords wanted, but many spaces that sat empty for years are now coming back to life.

For now, he offers this recommendation: “Retail developers just need to continue to be nimble and adapt to changing consumer needs.”

Co-written by The Warner Executive Vice President Colliers International

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

POPULAR ARTICLES ON: U.S. Real Estate and Construction

Completion Guarantees in Land Leases, Part II

Herrick, Feinstein LLP

Land leases are considered a safe source of passive income for landowners. What makes this stream of income so secure is the fact that the tenant’s obligation to pay rent is secured by an income-generating property.

]]>
ClearWorth Capital buys apartments in Houston https://talktalkchina.com/clearworth-capital-buys-apartments-in-houston/ Fri, 11 Mar 2022 13:45:19 +0000 https://talktalkchina.com/clearworth-capital-buys-apartments-in-houston/ Park at Woodmoor Apartments. Image courtesy of ClearWorth Capital In an off-market transaction, ClearWorth Capital LLC acquired The Park at Woodmoor, a multi-family community in The Woodlands submarket of Houston, Texas. The seller was George S. Lee. With an address at 8787 Shenandoah Park Drive in Shenandoah, The Park at Woodmoor is a 220-unit community […]]]>

Park at Woodmoor Apartments. Image courtesy of ClearWorth Capital

In an off-market transaction, ClearWorth Capital LLC acquired The Park at Woodmoor, a multi-family community in The Woodlands submarket of Houston, Texas. The seller was George S. Lee.

With an address at 8787 Shenandoah Park Drive in Shenandoah, The Park at Woodmoor is a 220-unit community with one- and two-bedroom layouts ranging from 758 to 1,211 square feet. The two- and three-story property has 11 frame buildings and is spread over a 9.8-acre parcel.

Apartments feature private balconies or patios, semi-private entrances, individual air conditioning, washer-dryer hookups, and vaulted ceilings. A swimming pool is among the prominent common amenities offered in the apartment community.

ClearWorth Capital is planning a multi-million dollar capital improvement program that will bring new unit interiors and exterior upgrades as well as social amenities.

The subsidiary of the company, ClearWorth Residential, will assume the position of property manager.

Walking distance to shopping

“This transaction went relatively smoothly, despite recent turmoil in global financial markets,” said Jordan Tabbert, ClearWorth Capital senior vice president, investments. Multi-Accommodation News.

Located in the Porter Heights-Woodbranch neighborhood of Shenandoah, The Park at Woodmoor is 0.8 miles or 15 minutes’ walk from Roberts Design Center Mall. It is a 5 minute drive from Lone Star College and a 40 minute drive from the University of Houston in downtown Houston.

Five major recreational attractions are located approximately 10.5 miles from the community. These are Montgomery County Preserve, Spring Acres Preserve, Grogan’s Point Preserve, Spring Creek Greenway Nature Center, and Peckinpaugh Preserve.

The Park at Woodmoor is 92 km from the Lyndon B. Johnson Space Center and is close to other military bases, including the Pelican Spit Army Reserve.

In a prepared statement, ClearWorth Capital officials said The Woodlands is considered by some to be Houston’s best suburb and continues to attract new residents attracted by award-winning schools, fine dining and retail and a wide range of employers. Six weeks ago, 29and Street Capital has acquired Villas at Hermann Park in Houston.

]]>
Equity Residential buys San Diego community https://talktalkchina.com/equity-residential-buys-san-diego-community/ Fri, 25 Feb 2022 20:45:40 +0000 https://talktalkchina.com/equity-residential-buys-san-diego-community/ Jefferson Pacific Beach Residential Equity acquired Jefferson Pacific Beach, a 172-unit community in San Diego. The seller was Cos JPI., who developed the property in 2020. Berkadia Institutional Solutions completed the transaction on behalf of JPI. The asset is under loan for $69.7 million which has been guaranteed by CBRE Capital Markets, according to data […]]]>

Jefferson Pacific Beach

Residential Equity acquired Jefferson Pacific Beach, a 172-unit community in San Diego. The seller was Cos JPI., who developed the property in 2020.

Berkadia Institutional Solutions completed the transaction on behalf of JPI. The asset is under loan for $69.7 million which has been guaranteed by CBRE Capital Markets, according to data from Yardi Matrix.

The garden-style community offers studio, one-, two-, and three-bedroom apartments, ranging from 558 square feet to 1,773 square feet, with private balconies and patios in some units. Amenities include a fitness center, business center, clubhouse, pool and spa, and 13,862 square feet of retail space.

Located at 4275 Mission Bay Drive, the Jefferson Pacific Beach is within 4 miles of Mission Beach and SeaWorld San Diego. Garnet Ave., which offers a variety of dining and shopping options including Vons, Trader Joe’s, and Sprouts Farmers Market, is a mile and a half from the community.

While Equity Residential’s expansion strategy focuses primarily on Denver, Dallas, Austin, Texas and Atlanta, the San Diego transaction represented an opportunity for the company to acquire a well-located asset in a market with strong fundamentals, according to a statement prepared by Ian Couwenberg, vice president of acquisitions at Equity Residential.

Last month, the company purchased two assets in Denver, totaling 594 units. Equity Residential’s portfolio now includes more than 80,400 units nationwide, including 2,874 in San Diego County.

]]>
eXp India organizes a powerful session for real estate agents to create a generation of world-class trained competitive professionals in India https://talktalkchina.com/exp-india-organizes-a-powerful-session-for-real-estate-agents-to-create-a-generation-of-world-class-trained-competitive-professionals-in-india/ Wed, 16 Feb 2022 12:28:38 +0000 https://talktalkchina.com/exp-india-organizes-a-powerful-session-for-real-estate-agents-to-create-a-generation-of-world-class-trained-competitive-professionals-in-india/ NNA | Update: February 16, 2022 5:57 p.m. STI New Delhi [India]February 16 (ANI/NewsSee): A unique cloud-based real estate platform, eXp India, has held a virtual event to upskill and train real estate agents so that they can become the market-ready professionals of the future.According to the company, real estate agents are the first link […]]]>



NNA |
Update:
February 16, 2022 5:57 p.m. STI

New Delhi [India]February 16 (ANI/NewsSee): A unique cloud-based real estate platform, eXp India, has held a virtual event to upskill and train real estate agents so that they can become the market-ready professionals of the future.
According to the company, real estate agents are the first link between brands and customers; therefore, helping them learn the art of selling and effective communication skills can help them gain a competitive edge and prepare for the market.
The virtual event was graced by the presence of Shashank Vashishtha, Executive Director, eXp India, Michael Valdes – President, eXp Global, Meghan Kelly – Vice President, Global Operations and Ilaria Profumi – Regional Director, EMEIA.
As an agent-centric company, eXp India is committed to helping real estate agents grow personally so that they can be more productive in what they do. The organization is focused on training its agents in soft skills so that they can capitalize on the massive growth potential of the Indian real estate sector.
Therefore, to help its agents take it to the next level, eXp brought in renowned motivational speaker, Dr. Bhupendra Singh Rathore, who left attendees enthused with his influential insights on life and happiness. As part of the interactive session, Dr. Rathore explained how agents can become the face of the business and help themselves and the eXp achieve higher levels of success.

“The Indian real estate sector has today become the most solid pillar that strengthens the foundations of economic growth in India. It is one of the greatest generators of employment, and here it becomes imperative to provide a assistance, training and upgrading of real estate agents who act as a bridge between real estate brands and customers. We believe that such initiatives are important and will greatly help our agents to become competitive and better in the market, “said Shashank Vashishta, Executive Director, eXp India.
During the event, Dr. Bhupendra Singh Rathore, a renowned motivational speaker, said, “I am grateful for the opportunity given to me by eXp. A booming industry like real estate offers many opportunities for growth. However, only a handful of people know how to take advantage of existing opportunities.” The motivational speaker added, “Through this motivational event for head trainers, my sole intention is to enthrall long-term real estate agents. as well as aspiring real estate investors and provide them with the best mantra for a successful career in the real estate industry. . “
eXp India and its global brokerage, eXp Realty, is one of the fastest growing real estate technology companies in the world with over 75,000 agents in the US, Canada, UK, Australia, Africa South, India, Mexico and Portugal. , France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Germany, Dominican Republic and Panama. As a publicly traded company, eXp World Holdings offers real estate professionals the unique opportunity to earn equity rewards for production goals and contributions to overall company growth.
eXp World Holdings and its businesses offer a full suite of real estate brokerage and technology solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools, and personal development. The cloud-based brokerage is powered by an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive.
This story is provided by NewsSee. ANI shall in no way be responsible for the content of this article. (ANI/NewsSee)

]]>
29th Street Capital expands its portfolio in the Phoenix area https://talktalkchina.com/29th-street-capital-expands-its-portfolio-in-the-phoenix-area/ Thu, 10 Feb 2022 13:19:21 +0000 https://talktalkchina.com/29th-street-capital-expands-its-portfolio-in-the-phoenix-area/ Oceane. Image courtesy of Haven Residential 29th Street Capital completed its 16th multifamily investment in the Phoenix metro area with the acquisition of Oceana Apartments. The company bought the Class B+ community in Avondale, Arizona from an undisclosed seller, but Yardi Matrix data shows the last time Oceana Apartments changed hands was June 2017 , […]]]>

Oceane. Image courtesy of Haven Residential

29th Street Capital completed its 16th multifamily investment in the Phoenix metro area with the acquisition of Oceana Apartments. The company bought the Class B+ community in Avondale, Arizona from an undisclosed seller, but Yardi Matrix data shows the last time Oceana Apartments changed hands was June 2017 , when Management of Ares acquired it for nearly $30.8 million from Alliance Residential Co.

The 240-unit property offers one-, two-, and three-bedroom units ranging from 685 to 1,071 square feet, according to Yardi Matrix data. Oceana Apartments was built in 2004 and includes a fitness center, clubhouse with business center, swimming pool and spa. Dusty Eddy, senior vice president of Southwest region acquisitions for 29th Street Capital, said Multi-Accommodation News that the community is about 97% occupancy and added that the company has planned about $2.1 million in renovations.

Renovations will include upgrades to the clubhouse, fitness center and outdoor areas as well as fresh exterior paint. As for units, 29th Street Capital plans to install water-efficient toilets in every unit. The new owner will also put his in-house property management company, Residential Havenin charge of the management and rental of Oceana Apartments.

Eddy said in prepared remarks that the community is close to some of the biggest entertainment venues and fastest growing employment hubs in the region. Located at 1700 N. 103rd Ave., the community is near the Interstate 10 and Loop 303 industrial and distribution corridors which are home to major employers including Amazon, Chewy, Lockheed Martin, Microsoft, Macy’s Distribution, Boeing, Sub-Zero and Dick’s Sporting. Goods.

EXPANSION IN THE SOUTHWESTERN UNITED STATES

In 2019, 29th Street Capital acquired another community in Avondale, the 168 Las Casitas apartments. Now in 2022, Eddy said MNH that the company is “extremely bullish on the Phoenix market” due to market fundamentals showing strong employment and population growth. Eddy added that 29th Street Capital will continue to seek higher value or core-plus acquisitions, but will also look to expand into developments in the region.

Outside of Arizona, the company’s portfolio also included several communities in the Las Vegas market, but Eddy said MNH that the current portfolio has only one property there. He added that the company plans to expand its presence in Las Vegas as well as expand into the Alburquerque, NM market, since both markets have similar market fundamentals to Phoenix. Overall, 29th Street Capital has acquired more than 27 multifamily assets across the United States in the past year, totaling more than 6,300 units.

]]>
Wolters Kluwer Compliance Solutions cites benefits of electronic registration of real estate documents https://talktalkchina.com/wolters-kluwer-compliance-solutions-cites-benefits-of-electronic-registration-of-real-estate-documents/ Fri, 04 Feb 2022 14:00:00 +0000 https://talktalkchina.com/wolters-kluwer-compliance-solutions-cites-benefits-of-electronic-registration-of-real-estate-documents/ MINNEAPOLIS–(BUSINESS WIRE)–Commercial and residential mortgage lenders who neglect to take advantage of the benefits (and the growing trend towards electronic filing and recording of mortgage-related real estate documents) could encounter significant problems over time, including the increase transaction costs, workflow inefficiencies and dissatisfied borrowers. That’s according to Wolters Kluwer Compliance Solutions, who writes in a […]]]>

MINNEAPOLIS–(BUSINESS WIRE)–Commercial and residential mortgage lenders who neglect to take advantage of the benefits (and the growing trend towards electronic filing and recording of mortgage-related real estate documents) could encounter significant problems over time, including the increase transaction costs, workflow inefficiencies and dissatisfied borrowers. That’s according to Wolters Kluwer Compliance Solutions, who writes in a new thought leadership article.

“Electronic records are not the way of the future; they are the way of the present,” writes Sandra Langford, Senior Product Manager, Wolters Kluwer Compliance Solutions, in her recently published article, “The Paperless Revolution Will Not Be Televised: Electronic Recording of Real Property Documents is Now,” in the Commercial Lending edition of Scottish guide. “For real estate documentation, the efficiency, security and general convenience of electronic documents make it the most logical option for lenders.

Of the 3,865 county-level registration jurisdictions in the United States today, she notes that most have begun to accept some form of electronic electronic registration and a handful now only accept electronic registrations. rather than manual paper records.

“Lenders are noticing the growing prevalence of electronic records and filings for mortgages, the Uniform Commercial Code and other transactions,” said Steve Meirink, executive vice president and general manager of Wolters Kluwer Compliance Solutions. “This trend reflects the greater growth of electronic and digital platforms for banking transactions of all types, from originations and closings to services and securitizations. Lenders are increasingly embracing the benefits of speed, convenience, auditability and security that digital platforms bring to banking, much to the delight of their customers.

The outbreak of COVID-19 in 2020 abruptly shut down county offices and dramatically slowed the efficiency of the U.S. Postal Service and courier services for weeks. Documents deemed “complete” may in fact have been held up in the mail or at closed receiving offices due to the pandemic, putting deposits at risk. Langford notes that under normal conditions, registration and filing delays of just a few days can cause serious problems for lenders and their clients: a transaction,” she wrote.

Compare that experience, she notes, when organizations move to a secure electronic check-in method. “Imaged documents (electronically), lined up in a queue, waiting their turn: they are organized and there is almost no chance that they will disappear. There is no high security risk – in fact, security is stronger on most online platforms than in the lobby of many county recorders,” she notes.

Scottish guide has covered U.S. financial news, trends and developments for more than 25 years, and hundreds of thousands of mortgage professionals rely on its knowledge to make profitable business decisions.

Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to US insurers, banks, credit unions and securities firms. The company, part of Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions effectively manage risk and regulatory compliance obligations, and gain the insights needed to focus on better service to their customers and the growth of their business.

Wolters Kluwer’s GRC division provides a range of expert solutions to help financial institutions manage regulatory obligations and risk. The eOriginal® suite of purpose-built digital lending solutions from Wolters Kluwer Compliance Solutions, for example, helps lenders digitize their transactions and offers e-signatures, collateral authentication and an e-vault. OneSumX® for Regulatory Change Management from Compliance Solutions tracks regulatory changes and organizes them to create value-added structured content through a single data feed combined with an easy-to-use software solution. Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR), meanwhile, is a global market leader in providing integrated regulatory compliance and reporting solutions. The division’s legal solutions businesses are Wolters Kluwer CT Corporation and Wolters Kluwer ELM Solutions.

About Wolters Kluwer Governance, Risk and Compliance

Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to ensure compliance with evolving regulatory and legal obligations, manage risk, increase efficiency and deliver better results commercial. GRC offers a portfolio of expert technology services and solutions focused on Legal Entity Compliance, Legal Operations Management, Banking Product Compliance and Banking Regulatory Compliance.

Wolters Kluwer (WKL) is a global leader in professional information, software solutions and services for healthcare; taxation and accounting; governance, risk and compliance; and the legal and regulatory sectors. We help our customers make critical decisions every day by delivering expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer achieved annual sales of €4.6 billion in 2020. The group serves customers in over 180 countries, maintains operations in over 40 countries and employs around 19,200 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

]]>
Manna Inc. and its Affiliates, Leading Restaurant Owners, Leverage DailyPay for a Competitive Advantage in Hiring and Retaining Staff https://talktalkchina.com/manna-inc-and-its-affiliates-leading-restaurant-owners-leverage-dailypay-for-a-competitive-advantage-in-hiring-and-retaining-staff/ Thu, 27 Jan 2022 16:03:00 +0000 https://talktalkchina.com/manna-inc-and-its-affiliates-leading-restaurant-owners-leverage-dailypay-for-a-competitive-advantage-in-hiring-and-retaining-staff/ Manna Inc. and its affiliates partner with DailyPay to provide financial benefits to employees of [Manna’s Wendy’s, Fazoli’s, and Other Restaurant Franchises] NEW YORK, January 27, 2022 /PRNewswire/ — Manna Inc. and its subsidiaries, among the leading affiliated restaurant operators in the United States, have partnered with DailyPay to offer their employees a transformative financial […]]]>

Manna Inc. and its affiliates partner with DailyPay to provide financial benefits to employees of [Manna’s Wendy’s, Fazoli’s, and Other Restaurant Franchises]

NEW YORK, January 27, 2022 /PRNewswire/ — Manna Inc. and its subsidiaries, among the leading affiliated restaurant operators in the United States, have partnered with DailyPay to offer their employees a transformative financial benefit that allows them to hire faster and retain their jobs. employed longer. With the popular DailyPay benefit, employees have power and control over their pay, with the ability to access their earned pay immediately after completing a shift. To research commissioned by DailyPay shows that when using DailyPay, employees stop or reduce reliance on payday loans or pay overdraft fees to make ends meet.

DailyPay Inc. and Manna Inc. logos

Subsidiaries of Manna Inc. operate Wendy’s Restaurants, Fazoli’s Restaurants, Mark’s Feed Store Restaurants and other restaurants nationwide. Each Affiliate is a minority-owned company that is focused and dedicated to fostering an environment of diversity and inclusion.

“When news spread that we had DailyPay in place, we had several former team members contact us. They originally left for a job that offered weekly paychecks, we pay every two weeks, but after learning we had DailyPay – that was the financial benefit they were looking to get back to us. The DailyPay team made the integration to their platform seamless,” said Mary Lazzaroni, Vice President of People and Development at Manna Inc. “We believe our employees find this to be a valuable benefit. 50% of our employees are enrolled in DailyPay – the only benefit we offer with an enrollment rate Also, knowing that food is one of the main reasons for transferring funds, we even changed the policy to ensure that our team members receive a free meal on every shift of work. vail, not just discount food items. »

DailyPay research shows that with DailyPay, businesses are able to fill vacancies 52% faster than those without a daily payment option while enjoying a 50% reduction in turnover. ‘business. the to research, commissioned by DailyPay, shows that 95% of those who once relied on payday loans or paid overdraft fees can break the cycle of debt when they have a DailyPay option. As a result, 74% of employees who use DailyPay feel less financial stress.

About Daily Pay

DailyPay, Inc., powered by its cutting-edge technology platform, is on a mission to create a new financial system. Partnership with America’s top employers, including Dollar Tree, Berkshire Hathaway and Adecco. DailyPay is the recognized benchmark for on-demand payment. With its vast data network, proprietary funding model and connections to over 6,000 banking system endpoints, DailyPay ensures that money is always in the right place at the right time for employers, merchants and financial institutions. DailyPay develops the technology and the mindset to reinvent the way money moves, from the start of work. DailyPay is headquartered in New York Citywith operations based at Minneapolis. For more information, visit www.dailypay.com/press.

About Manna Inc.

Manna Inc. was founded in 1999 in Louisville, Kentucky. Manna and its subsidiaries are family-owned businesses that pride themselves on service – to their employees, their customers and the local communities in which they operate. Manna is one of the largest minority-owned restaurateurs United States which owns and operates its own brands in addition to serving as a franchisee for several national concepts.

Media Contacts
David Schwarz
E-mail: david.schwarz@dailypay.com

Adriana Ball
E-mail: adriana.ball@dailypay.com

Quote

Quote

Show original content to download multimedia:https://www.prnewswire.com/news-releases/manna-inc-and-its-affiliates-leading-restaurant-operators-leverage-dailypay-for-a-competitive-edge-in-hiring-and-retaining- staff-301469832.html

SOURCEDailyPay

]]>
Acquisition of Amazon Ottawa Aligns with Crestpoint’s Global Outlook | RENX https://talktalkchina.com/acquisition-of-amazon-ottawa-aligns-with-crestpoints-global-outlook-renx/ Wed, 26 Jan 2022 17:25:35 +0000 https://talktalkchina.com/acquisition-of-amazon-ottawa-aligns-with-crestpoints-global-outlook-renx/ 222 CitiGate Dr., a 2.8 million square foot Amazon fulfillment center, has been acquired by Crestpoint Real Estate Investments and its partners. (Courtesy of Crestpoint) The acquisition of the 2.8 million square foot Amazon facility in Ottawa, the largest fulfillment center in Canada, meets several key objectives for Crestpoint Real Estate Investments Ltd., which has […]]]>

222 CitiGate Dr., a 2.8 million square foot Amazon fulfillment center, has been acquired by Crestpoint Real Estate Investments and its partners. (Courtesy of Crestpoint)

The acquisition of the 2.8 million square foot Amazon facility in Ottawa, the largest fulfillment center in Canada, meets several key objectives for Crestpoint Real Estate Investments Ltd., which has assembled an international consortium for the $494 million purchase.

Crestpoint and its partners have purchased a 90.1% share of the state-of-the-art, multi-level facility in the community of Barrhaven, a southwest suburb of Ottawa. Developer Broccolini retained the other 9.9% stake in the property, which was completed and handed over to Amazon in late 2021.

“This transaction combines our focus on the industrial market with the appeal that Canada really has in a global context for global investors,” Crestpoint executive vice president Elliott Altberg told RENX.

“It was really just an opportunity for us to buy a very stable, long-term base asset that expands our relationships with capital around the world, and an asset that is leased to a tenant on credit.

“He combines a lot of very good attributes.”

The new owners of the establishment

The new majority owners of the center, which anchors the CitiGate business park, are Crestpoint Core Plus Real Estate Strategy, Vestcor Inc., and Kiwoom Securities and Hangang Asset Management, a South Korean investment consortium.

Crestpoint is a commercial real estate investment manager with $7.5 billion in gross assets under management. The Crestpoint Core Plus Real Estate Strategy was created in 2011 as a diversified open-ended vehicle with a core-plus investment strategy available to institutional clients and high net worth investors.

Connor, Clark & ​​Lunn Financial Group Ltd. — a multi-boutique asset management firm whose affiliates collectively manage approximately $100 billion in assets for individuals, advisors and institutional investors — owns 50% of Crestpoint. Crestpoint’s senior management owns the other half.

Vestcor of Fredericton is jointly owned by the New Brunswick Public Service Pension Plan and the New Brunswick Teachers’ Pension Plan. It provides global investment management services to nine public sector client groups which represented approximately $19.4 billion in assets under management at the end of 2020.

Kiwoom Securities was founded in 2000 and is listed on the Korea Stock Exchange. It offers financial investment, management, investment marketing, investment brokerage, discretionary fiduciary investment and investment advisory services.

Hangang Asset Management is a global alternative asset management company investing in overseas infrastructure and all major real estate asset classes. Its main investors are pension funds, credit unions and insurance companies.

Amazon’s new facility

The facility itself is fully leased to Amazon on a 20-year lease. He is now paying rent, occupying the premises and finishing his fit-out, according to Altberg.

The site is 64.2 acres and the building footprint is approximately 630,000 square feet. It has 54 loading docks.

Various technological applications will allow it to process more than 100,000 parcels per day.

The property also has: 2,062 parking spaces; 107 trailer parking spaces; 250 bicycle parking spaces; 18 parking spaces for motorbikes; and 10 electric vehicle truck chargers.

In keeping his share of the facility, Broccolini is following a similar strategy to the first major fulfillment center he built for Amazon in Ottawa.

Broccolini also sold a 90% interest in that facility, a one million square foot building in the city’s east end, to Concert Properties’ CREC Commercial Fund LP upon completion in 2020.

The two facilities, along with another smaller local fulfillment center recently leased to Canadian Urban, give Amazon nearly four million square feet of fulfillment space in Ottawa.

Crestpoint continues to grow

This most recent transaction, brokered by CBRE, is the largest in a series of major transactions for Crestpoint. It has completed more than $1.9 billion in acquisitions of office, industrial, retail and multi-residential properties over the past 13 months. The acquisitions added more than 6.5 million square feet to its portfolio,

Crestpoint also added 14 new members to its team, bringing its total number of investment professionals to 32. This number is expected to continue to grow.

The company has been a very active buyer in Ottawa, including an industrial portfolio of four properties from Huntington Properties for just over $50 million late last summer as part of its aggressive industrial expansion.

“It’s a different type of purchase, given the long-term nature of the lease, credit rental and the size of the industrial facilities,” Altberg said of the acquisition. Amazon. “It fits very well with our strategy.”

Crestpoint and Vestcor have acquired a 50% interest in the four-building, 1.17 million square foot Place de Ville office complex in downtown Ottawa, paying Alberta Investment $350 million Management Corp., Brookfield Properties and CPP Investments in November.

Altberg told RENX last year that he views Ottawa as a core growth market with more attractive risk-adjusted returns than some other major Canadian cities.

Other acquisitions to come

Although Crestpoint has been active in Ottawa, it continues to seek acquisitions across the country.

“We want to continue growing in industrial space, residential space, and we’ve purchased office space in Ottawa,” Altberg said.

“We are very active and busy and there will be things to discuss, but it is best to leave these discussions until they are over.”

]]>
EMBLEM Developments Announces New Inside Sales Team | RENX https://talktalkchina.com/emblem-developments-announces-new-inside-sales-team-renx/ Tue, 25 Jan 2022 10:13:08 +0000 https://talktalkchina.com/emblem-developments-announces-new-inside-sales-team-renx/ (Image courtesy: EMBLEM Development) EMBLEM Developments, Canada’s leading forward-thinking residential developer, recently announced its latest exciting step towards offering a full range of comprehensive real estate services. Kash Pashootan, CEO of EMBLEM, proudly introduced the company’s new inside sales team of Alex Leung and Steve Cicekian earlier this week. Pashootan says, “We went through a […]]]>

(Image courtesy: EMBLEM Development)

EMBLEM Developments, Canada’s leading forward-thinking residential developer, recently announced its latest exciting step towards offering a full range of comprehensive real estate services. Kash Pashootan, CEO of EMBLEM, proudly introduced the company’s new inside sales team of Alex Leung and Steve Cicekian earlier this week.

Pashootan says, “We went through a thorough process to identify two senior executives who would be more than just great salespeople. Steve and Alex have built longstanding relationships with the sales community by being genuine, honest and caring. These are traits that were really important to us. We will provide our agent network with a cohesive EMBLEM experience that will be based on direct access at launches, access to senior company leadership, and the EMBLEM+ program that recognizes sales excellence.

This news created a buzz in the industry; no surprise as EMBLEM has been very involved in everything they have done since day one, with attention to detail being paramount to the organization. Well capitalized and with some of the best talent in the industry working within the company, EMBLEM has been one of the most talked about success stories in the residential market. They have a very active pipeline and will release around 2,800 suites in 2022.

Last September the cranes soared above 1 Jarvis in Hamilton, and in October they soared at Artform in Mississauga. These highly anticipated developments are joined by EMBLEM’s Capital Park, a new community of cutting-edge mid-rise apartment buildings being built in Ottawa. This new development is progressing rapidly, with three buildings completed this year and the fourth building in 2023.

Of course, we couldn’t complete this list without mentioning Arte. On its way to becoming a landmark of contemporary luxury in Mississauga, the Arte community has gained a lot of momentum and attention in the industry, with its record sales of 90% in 3 weeks and construction beginning in the first quarter of 2022.

“The EMBLEM brand is the most important thing to us – it’s our reputation,” says Pashootan. “That means taking a long-term view with everything we do and never letting short-term benefits compromise what we build.”

“We felt it was time to take this commitment further, providing customers with direct access to EMBLEM itself,” said Shamil Jiwani, Vice President of Investments at EMBLEM. “Since our creation, we have worked on the relationships with our customers.”

Alex Leung and Steve Cicekian leading the EMBLEM Commercial Team

The trust and security that develops from meaningful dialogue and face-to-face relationships only come in capable and experienced hands. Therefore, it’s no surprise that EMBLEM is thrilled to have notables Alex Leung and Steve Cicekian leading their sales team as VP of Sales and Marketing.

Alex Leung comes to EMBLEM with over 14 years of sales and marketing experience, with expertise in pre-construction residential developments. Prior to joining the EMBLEM team, Alex held several leadership positions at Great Gulf and SmartCentres – two of the largest real estate development companies in Toronto and Vaughan – including Vice President of Sales and Management, as well as official broker.

“EMBLEM is a tidal wave that has arrived and is taking everyone away. I’m so excited to be a part of this team, to champion these amazing developments – with not only attention to detail but a cutting-edge attention to design, EMBLEM has an “it factor”, and it’s obvious for everyone. –Leung, 2022

Steve Cicekian has 9 years of pre-construction condo experience and has successfully launched numerous mixed-use projects with a total sales volume of nearly $4 billion. Prior to joining EMBLEM, Steve served as Vice President at Baker Real Estate where he managed numerous large scale accounts.

“I’ve been very intrigued by EMBLEM for quite some time now. You can tell straight away that there’s something different about them and the way they think. They’re not trying to be different; they’re just EMBLEM’s attention to every detail in building a community is something that really speaks to me. I can point to a number of things and say, “That’s why people want to live here.” – Cicekian , 2022

EMBLEM’s new inside sales team marks another important milestone for this development behemoth and a testament to its forward-thinking attitude. The next few years will be an exciting time as the company continues to grow as one of Canada’s top companies.

About the EMBLEM:

EMBLEM Developments is one of the fastest growing real estate development companies in the GTA, with a focus on high-rise residential development. EMBLEM Developments’ current development portfolio includes over 4,200 residences representing a development value of $2.6 billion.

Design is in EMBLEM’s DNA. There is no substitute for great design. It is the most important factor in how we feel about our home; it determines how we live our lives, how we interact with our loved ones, and how we rejuvenate. Great design creates a sense of connection to its space – an intangible feeling that is the most important achievement a developer can offer their buyer. The EMBLEM team is comprised of experienced construction, development, finance, marketing and customer service professionals who are capable of executing the EMBLEM vision from theory to final product.

For more information please contact:

416-865-8620

[email protected]

]]>
24-unit apartment complex in Garden Grove sells for $8 million – Orange County Register https://talktalkchina.com/24-unit-apartment-complex-in-garden-grove-sells-for-8-million-orange-county-register/ Fri, 14 Jan 2022 17:20:03 +0000 https://talktalkchina.com/24-unit-apartment-complex-in-garden-grove-sells-for-8-million-orange-county-register/ The 24 Chapman Villa Apartments in Garden Grove sold for $8.15 million or $339,500 per unit, according to Marcus & Millichap. The 19,345 square foot complex located at 7692-7732 Chapman Ave. features two-bedroom units spread across four adjoining buildings. Greg Bassirpou at M&M represented the seller and buyer, unidentified only as local limited liability companies. […]]]>

The 24 Chapman Villa Apartments in Garden Grove sold for $8.15 million or $339,500 per unit, according to Marcus & Millichap.

The 19,345 square foot complex located at 7692-7732 Chapman Ave. features two-bedroom units spread across four adjoining buildings.

Greg Bassirpou at M&M represented the seller and buyer, unidentified only as local limited liability companies.

“The property is located in a very desirable area, next to a quiet residential area, and the seller was able to maximize value through a complete exterior and interior renovation,” he said. .

The buyer completed a 1031 exchange by acquiring the complex, a “turnkey property that offers good cash flow and good growth in projected rents,” Bassirpou said.

The Bascom Group in Irvine has acquired a 140-unit apartment complex in Northridge for $52.5 million or $375,000 per unit. (Courtesy of Bascom Group)

Bascom buys Northridge complex for $52.5 million

The Bascom Group in Irvine has acquired a 140-unit apartment complex in Northridge for $52.5 million or $375,000 per unit.

The properties, NMS Northridge and NMS Superior, are mostly two- and three-bedroom units. Each has a private two-car garage or two structured parking spaces, Bascom said.

Apex Innovative Sciences, a clinical trial site operator, signed a 12.5-year lease for 30,962 square feet at Los Alamitos Medical Center. Financial terms of the lease were not disclosed. (Courtesy of CBRE)

Los Al medical complex attracts longtime tenant

Apex Innovative Sciences, a clinical trial site operator, signed a 12.5-year lease for 30,962 square feet at Los Alamitos Medical Center.

Financial terms of the lease were not disclosed.

CBRE’s Sonya Dopp-Grech, Steven Lewallen and Ryan Dopp represented the owner, Welltower, a real estate investment firm specializing in medical properties.

The three-story property located at 3771 Katella Ave. is in a medical campus that includes Tenet Healthcare, Coast Urological Medical Group and Retina Consultants.

According to Hanley Investment Group Real Estate Advisors, a Chipotle-anchored multi-tenant retail complex at the Foothill Ranch Towne Center has sold for $8.2 million. The seller was Thomas English Real Estate in Indianapolis, Indiana. The buyer was not identified solely as a Glendale investor. (Courtesy of Hanley Investment Group)

Chipotle property sells for $8.2 million

According to Hanley Investment Group Real Estate Advisors, a Chipotle-anchored multi-tenant retail complex at the Foothill Ranch Towne Center has sold for $8.2 million.

The largest mall is anchored by Walmart Supercenter and Target and also includes a 99 Cents Only, Hobby Lobby, JOANN, Michaels, Old Navy, PetSmart and Regal Cinemas.

Hanley Investment Group represented the seller, Thomas English Real Estate in Indianapolis, Indiana. The buyer was not identified solely as a Glendale investor and was represented by Jack Nersesian at DAUM Commercial Real Estate Services.

The 6,873 square foot building sits at 26592 Towne Center Drive on nearly one acre and also includes Firehouse Subs and Guidepost Montessori. The property was built in 2004 and renovated in 2020.

N.B. company abandons Chino Hills centers for $19M

VantageOne Real Estate Investments in Newport Beach has sold two Chino Hills commercial properties for a total of $19 million.

Chino Hills Grand Plaza, a 12,948 square foot retail building at 3410 Grand Ave., sold for $11.42 million to an unidentified Burbank investor. Center tenants include First Citizens Bank, Pacific Dental Services, It’s Boba Time and Pick Up Stix.

Gateway Village, a 14,771-square-foot, two-tenant retail building in nearby Sprouts Mall, has sold for $7.64 million to an unidentified Santa Clarita investor. Tenants are Dunn-Edwards and Sit ‘n Sleep.

Hanley Investment Group negotiated the transactions on behalf of VantageOne.

“Investor demand for well-located, multi-tenant commercial properties has reached unprecedented levels in the second half of 2021,” said Bill Asher, executive vice president of Hanley. “We generated numerous competitive and qualified offers on both Chino Hills Grand Plaza and Gateway Village, and secured two separate Southern California-based 1031 exchange buyers at 100% of the asking prices for both assets. “

Both malls are across from Grand Avenue and The Shoppes at Chino Hills, one of the busiest malls in the city.

CapRock Co-Founder and President Jon Pharris is expanding Newport Beach-based CapRock Partners to Dallas-Fort Worth. (Courtesy of Leah Hardy Photography)

CapRock expands into Texas

CapRock Partners, based in Newport Beach, has opened an office in Texas.

The Dallas-Fort Worth team will be led by CapRock co-founder and president Jon Pharris. The company said it is looking for industrial real estate investment opportunities as well as land for large-scale logistics development throughout Texas.

Pharris retains his current title and role with the Industrial Real Estate Investment and Management Company.

“The Dallas/Fort Worth Metroplex is a vital North American logistics hub and CapRock is thrilled to officially establish a presence here,” said Pharris. “As we integrate into the DFW industrial real estate market, CapRock is looking to build a strong local team to execute our development and investment strategies.”

Leadership changes at Faris Lee

Jeff Conover, Don MacLellan and Shaun Riley have been promoted to managing directors at Faris Lee Investments, an Irvine-based retail real estate advisory firm.

The promotions come as the company’s CEO, Rick Chichester, retires. He will remain with the company until January 31.

Conover, Don MacLellan and Shaun Riley, all longtime Faris executives, will focus on team collaboration, mentorship and talent development with plans to implement a major recruiting initiative and hire brokers at all levels.

“As we emerge from the pandemic, it’s a perfect junction for new leadership to take the helm to lead the business,” MacLellan said.

KBS volunteers in Newport Beach got together in early December to assemble new bikes for Crittendon Services for Children and Families in Fullerton. The team gathered 18 children’s bikes. (Courtesy of KBS)

Good work

Employees of KBS, a Newport Beach-based commercial real estate investment firm, recently participated in a volunteer event to build 18 bikes for Crittenton Services for Children and Families in Fullerton. The non-profit behavioral health and child welfare organization serves the most vulnerable children, youth and their families.

Real estate transactions, leases and new projects, industry hires, new companies and upcoming events are compiled from news releases by editor Karen Levin. Submit high-res articles and photos via email to Business Editor Samantha Gowen at sgowen@scng.com. Please allow at least a week for posting. All elements are subject to change for clarity and length.

]]>