CRE | Jotup

Altus Group Reports Q4 and Fiscal 2023 Financial Results; Announces Quarterly Dividend Payment

Retrieved on:

Thursday, February 22, 2024

Cloud, Intelligence, Free cash flow, Net, CRE, TSX, Analytics, Altus Group, Funding, Table, Adjustment, Earnings, Property tax, Revenue, EPS, Development, Environment, Retail

Consolidated Adjusted EBITDA* was $34.2 million, down 2.2% (3.4% on a Constant Currency basis).

Key Points:

Consolidated Adjusted EBITDA* was $34.2 million, down 2.2% (3.4% on a Constant Currency basis).
Net cash provided by operating activities was $44.7 million, up 62.7%, and Free Cash Flow* was a record $40.1 million, up 109.3%.
Analytics revenues were $103.2 million, up 7.4% (6.1% on a Constant Currency basis), of which Recurring Revenue* was $93.0 million, up 8.4% (7.0% on a Constant Currency basis).
“2023 was a year of significant progress driving revenue, profit and free cash flow growth,” commented Jim Hannon, Chief Executive Officer of Altus Group.

Altus Group Enhances Valuation Offer with New Pan-European Dataset

Retrieved on:

Wednesday, February 21, 2024

Intelligence, Pan-European, CRE, TSX, Altus Group, Core, Data science, Geography, Data, Commercial property

LONDON, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Altus Group Limited (ʺAltus Group” or the “Company”) (TSX: AIF), a leading provider of asset and fund intelligence for commercial real estate (“CRE”), announced today that it has enhanced its European valuation offer with a new Pan-European dataset to compare and analyse commercial property valuation performance.

Key Points:

LONDON, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Altus Group Limited (ʺAltus Group” or the “Company”) (TSX: AIF), a leading provider of asset and fund intelligence for commercial real estate (“CRE”), announced today that it has enhanced its European valuation offer with a new Pan-European dataset to compare and analyse commercial property valuation performance.
"As an independent provider of valuation management solutions, Altus Group is ideally positioned to partner with the CRE industry to drive valuation transparency,” said Julien Sporgitas, EMEA Valuation Leader at Altus Group.
“The Pan-European valuation dataset raises the bar for real estate analytics in Europe, bringing new insights on the drivers of commercial property valuations.
Altus Group’s Pan-European valuation dataset creates a centralised, standardized valuation dataset offering granular insight into why property values are changing.

KBRA Releases Monthly CMBS Trend Watch

Retrieved on:

Monday, March 4, 2024

Banking, Professional Services, Finance, CRE, CLO, Research, CMBS, KBRA, Publication, YTD, Freddie Mac, Cryptocurrency

KBRA releases the February 2024 issue of CMBS Trend Watch.

Key Points:

KBRA releases the February 2024 issue of CMBS Trend Watch.
Single-borrower (SB) deal activity experienced a strong uptick in February with six deals priced compared to two last month.
U.S. CMBS conduit issuance, which was relatively robust in January with four deals priced, quietened down in February.
Private label CMBS issuance totaled $8.8 billion year-to-date (YTD) 2024, more than doubling the $4 billion seen in the first two months of 2023.

Savanna Launches Restructuring Advisory Practice

Retrieved on:

Wednesday, February 28, 2024

Commercial Building & Real Estate, Construction & Property, Asset Management, Consulting, Professional Services, REIT, Other Construction & Property, Residential Building & Real Estate, CRE, SAS, Commercial, JV, William Street, COVID-19, Investment, Financial services

Savanna, a New York City-based, vertically-integrated real estate investment manager, owner/operator and developer, announced the launch of Savanna Advisory Services (SAS), a fee-based restructuring advisory unit offering restructuring and planning expertise as well as full property-level execution of business plans to lenders and other CRE market participants.

Key Points:

Savanna, a New York City-based, vertically-integrated real estate investment manager, owner/operator and developer, announced the launch of Savanna Advisory Services (SAS), a fee-based restructuring advisory unit offering restructuring and planning expertise as well as full property-level execution of business plans to lenders and other CRE market participants.
SAS enables CRE workout participants to access the full capability of a well-established real estate operating platform with outstanding deal structuring, asset management, construction management, leasing, project management, and property management expertise.
Current advisory assignments for the SAS unit include engagements for a global bank on a major NYC office building and a debt fund with a foreclosed mixed-use redevelopment project.
Savanna has completed over 4 million square feet of previous property restructuring experience with 14 different lenders and JV equity partners.

KBRA Releases Research – CRE CLO Distress and Loan Modification Rates Soar

Retrieved on:

Tuesday, February 27, 2024

Banking, Professional Services, Finance, CRE, CLO, Growth, KBRA, Research, Insurance, Lisp (programming language), Risk, Bank

KBRA releases research on commercial real estate (CRE) collateralized loan obligation (CLO) distress and loan modification rates.

Key Points:

KBRA releases research on commercial real estate (CRE) collateralized loan obligation (CLO) distress and loan modification rates.
A review of CRE CLO loans originated prior to 2023 shows clear deterioration, with the distressed loan rate up nearly 4x from the end of 2022, to 5.4%.
Multifamily, which represents about 70% of the aggregate outstanding loan balance, performed better, with a distress rate of 4.3% and modification rate of 12.7%.
The worsening CRE CLO loan performance has been influenced by higher interest rates and challenged business plans, especially among multifamily and office properties that make up over 80% of the outstanding loans.

VTS Announces Accelerate 2024, the Leading Innovation Conference for Commercial Real Estate Executives

Retrieved on:

Tuesday, February 27, 2024

The premier conference will bring together more than 400 innovative executives and influential thought leaders to discuss the technologies, trends, and ideas that define modern real estate, as well as methods and tactics to best leverage intelligence to achieve success in today’s market.

Key Points:

The premier conference will bring together more than 400 innovative executives and influential thought leaders to discuss the technologies, trends, and ideas that define modern real estate, as well as methods and tactics to best leverage intelligence to achieve success in today’s market.
Accelerate 2024 will be a one-day event, featuring content including keynote presentations from distinguished guest speakers and VTS executives, VTS user-education content, and networking events.
Attendees will leave Accelerate 2024 armed with actionable tactics to help their organizations best navigate current dynamics in the market and seize opportunities.
Accelerate also will provide the opportunity to interface with product pop-ups, live demos, and a technical genius bar.

Enrollment is Open for Students Across Idaho Looking for a Personalized Approach to Learning

Retrieved on:

Thursday, February 22, 2024

Tuiton-free online public schools including Idaho Technical Career Academy (ITCA) provide a high-quality education for 9-12 grade students with a focus on career readiness education.

Key Points:

Tuiton-free online public schools including Idaho Technical Career Academy (ITCA) provide a high-quality education for 9-12 grade students with a focus on career readiness education.
Enrollment for the virtual public school — powered by Stride K12 and led by Idaho-certified teachers — is now open for students located anywhere in the state.
ITCA has integrated support teams of school leaders, teachers, academic coaches and counselors that offer unique learning opportunities through personalized education and strong community relationships.
Stride has worked with schools and districts across all 50 states to help develop local solutions to meet personalized online and blended learning goals.

Empowering Multifamily Property Marketing: ApartmentBuildings.com Unveils Dynamic Partnerships with SharpLaunch and Buildout, Inc.

Retrieved on:

Wednesday, February 21, 2024

In a second such partnership, ApartmentBuildings.com has signed an agreement with Buildout, an end-to-end CRE software suite, to expand visibility for multifamily property listings through syndication.

Key Points:

In a second such partnership, ApartmentBuildings.com has signed an agreement with Buildout, an end-to-end CRE software suite, to expand visibility for multifamily property listings through syndication.
Joining these partnership networks elevates the property listing platform experience for multifamily professionals across various sectors, including investors, brokers, REITs, private equity firms, developers, and family offices.
"Integration with our network partners represents a transformative solution for multifamily property professionals," said Daniel Ceniceros, Founder and CEO of Connect Media, which owns ApartmentBuildings.com.
ApartmentBuildings.com’s innovative partnerships signify a notable advancement in the evolution of online multifamily property sales.

KBRA Assigns Preliminary Ratings to Greystone 2024-HC3

Retrieved on:

Wednesday, February 21, 2024

Professional Services, Finance, Class, CRE, Acquisition, Health, KBRA, Telescopic sight

KBRA is pleased to announce the assignment of preliminary ratings to eight classes of Greystone 2024-HC3, a managed CRE CLO securitization with the ability to reinvest principal proceeds for 24 months including a 180-day ramp-up period.

Key Points:

KBRA is pleased to announce the assignment of preliminary ratings to eight classes of Greystone 2024-HC3, a managed CRE CLO securitization with the ability to reinvest principal proceeds for 24 months including a 180-day ramp-up period.
Additionally, the transaction provides the sponsor with the ability to effectuate significant modifications to performing loans, as well as buy out defaulted and credit risk assets.
All of the loans are secured by healthcare properties.
This transaction also includes an interest coverage (IC) test and a par value (overcollateralization, or OC) test.

Trepp Honors Future Leaders in Commercial Real Estate, Announces Winners of December 2023 Awards Program

Retrieved on:

Wednesday, March 6, 2024

CRE, Future, Student, Education, Management

NEW YORK, March 6, 2024 /PRNewswire-PRWeb/ -- Trepp, a leading provider of data, insights, and technology solutions to the structured finance, commercial real estate (CRE), and banking markets, announced today the winners of its December 2023 class of Future Commercial Real Estate (CRE) Leaders Awards for undergraduate and graduate students.

Key Points:

Trepp, a leading provider of data, insights, and technology solutions to the structured finance, commercial real estate, and banking markets, announced today the winners of its December 2023 class of Future Commercial Real Estate (CRE) Leaders Awards for undergraduate and graduate students.
NEW YORK, March 6, 2024 /PRNewswire-PRWeb/ -- Trepp, a leading provider of data, insights, and technology solutions to the structured finance, commercial real estate (CRE), and banking markets, announced today the winners of its December 2023 class of Future Commercial Real Estate (CRE) Leaders Awards for undergraduate and graduate students.
"We are thrilled to unveil the recipients of the December 2023 Future Leaders Awards, celebrating the brightest minds shaping the future of commercial real estate," said Erin Timko, Director of Academic and Industry Relations at Trepp.
The winners of the December 2023 awards are as follows:
"We are thrilled to unveil the recipients of the December 2023 Future Leaders Awards, celebrating the brightest minds shaping the future of commercial real estate," said Erin Timko, Director of Academic and Industry Relations at Trepp.