SFR

SVN | SFR Capital Management Leading the SFR Industry in Providing Renters with Access to Money Saving Advanced Energy Solutions

Retrieved on: 
Monday, December 4, 2023
Utilities, Finance, Alternative Energy, Residential Building & Real Estate, Energy, Accounting, Commercial Building & Real Estate, Professional Services, Construction & Property, Building Systems, Environment, Sustainability, REIT, Green Technology, Climate change, Air pollution, CO2, SVN, Tenant, Hazardous waste, Water, BFR, Electricity, HVAC, SFR, Renewable energy, Elevation

Elevation Home Energy Solutions , which partners with the largest investors in the SFR industry and has developed deep operational expertise working with rental home companies, will be deploying the advanced equipment, systems and services.

Key Points: 
  • Elevation Home Energy Solutions , which partners with the largest investors in the SFR industry and has developed deep operational expertise working with rental home companies, will be deploying the advanced equipment, systems and services.
  • “We are proud to work with Elevation towards becoming the largest BFR community provider of advanced energy solutions for our residents,” said Jeff Cline, CEO of SVN | SFR.
  • Clayton Andersen, CEO of Elevation, said, “We are very proud to be partnering with SVN | SFR on these and future projects.
  • Additionally, through our proprietary data and technology platforms, Elevation is delivering powerful portfolio solutions and attractive economic opportunities to SVN.

KBRA Named Ratings Agency Of The Year at Second Annual SFR Industry Awards

Retrieved on: 
Monday, December 4, 2023
Banking, Data Analytics, Professional Services, Finance, The Second Annual Report, CFA, Research, SFR, CMBS, Information management, IMN, Credit rating agency, Bond credit rating, Film industry, Pharmaceutical industry, KBRA

KBRA, a global full-service credit rating agency, is pleased to announce it was named winner in the Ratings Agency of the Year category at the Second Annual Single-Family Rental (SFR) Industry Awards ceremony held by Information Management Network on December 3rd in Scottsdale, Arizona.

Key Points: 
  • KBRA, a global full-service credit rating agency, is pleased to announce it was named winner in the Ratings Agency of the Year category at the Second Annual Single-Family Rental (SFR) Industry Awards ceremony held by Information Management Network on December 3rd in Scottsdale, Arizona.
  • The award recognized the best ratings agency servicing the SFR sector in the past year, according to IMN, and the judges considered factors such as share of securitization deals rated, econometric and industry reporting, transparency and timeliness of comments, as well as customer feedback.
  • “KBRA is excited to be given this honor,” said Nitin Bhasin, CFA, the Global Head of CMBS ratings at KBRA.
  • “Winning this award is testament to the hard work and commitment of our seasoned new issue, surveillance analysts covering the SFR sector.

Banc of California Announces Completion of Transformational Merger with PacWest Bancorp and $400 Million Equity Raise

Retrieved on: 
Thursday, November 30, 2023
Banking, Professional Services, Finance, Sale, Banc of California, PacWest Bancorp, NYSE, Warburg Pincus, Treasury, BANC, Centerbridge Partners, Small business, CMOS, Health, SFR, Banq, PacWest, Education, Bank, HOA

Banc of California, Inc. (“Banc of California”) (NYSE: BANC) today announced the completion of its transformational merger with PacWest Bancorp (“PacWest”) (Nasdaq: PACW), pursuant to which PacWest has merged into Banc of California, and as of December 1, 2023, Banc of California, N.A.

Key Points: 
  • Banc of California, Inc. (“Banc of California”) (NYSE: BANC) today announced the completion of its transformational merger with PacWest Bancorp (“PacWest”) (Nasdaq: PACW), pursuant to which PacWest has merged into Banc of California, and as of December 1, 2023, Banc of California, N.A.
  • The combined bank will operate under the Banc of California name and brand.
  • Concurrent with the completion of the merger, Banc of California also completed its $400 million equity raise from affiliates of funds managed by Warburg Pincus LLC and certain investment vehicles sponsored, managed or advised by Centerbridge Partners, L.P. and its affiliates.
  • “Today begins a new chapter for Banc of California,” said Jared Wolff, CEO and President of Banc of California.

Morgan Stanley Infrastructure Partners Announces Investment in UltraEdge

Retrieved on: 
Tuesday, November 21, 2023
Banking, Asset Management, Professional Services, Finance, MSIM, Acquisition, Altice, SFR, MSIP

Morgan Stanley Investment Management (“MSIM”), through investment funds managed by Morgan Stanley Infrastructure Partners (“MSIP”), a private infrastructure investment platform within MSIM, announced it has entered into an exclusivity agreement to partner with Altice France S.A. (“Altice France”) to establish the first nationwide independent distributed colocation provider in France through the acquisition of a majority interest in UltraEdge, subject to regulatory approvals and other customary conditions.

Key Points: 
  • Morgan Stanley Investment Management (“MSIM”), through investment funds managed by Morgan Stanley Infrastructure Partners (“MSIP”), a private infrastructure investment platform within MSIM, announced it has entered into an exclusivity agreement to partner with Altice France S.A. (“Altice France”) to establish the first nationwide independent distributed colocation provider in France through the acquisition of a majority interest in UltraEdge, subject to regulatory approvals and other customary conditions.
  • The passive infrastructure and equipment of the data centers will be transferred to UltraEdge with servers and active equipment retained at SFR.
  • Through its distributed portfolio of facilities and proximity to end users, UltraEdge is expected to benefit from the increasing demand for next-generation ultra-low latency connectivity services.
  • “We believe the opportunity to create an independent and distributed edge colocation provider, benefiting from access to SFR’s nationwide fiber infrastructure in France, makes UltraEdge a very attractive investment for MSIP,” said Yacine Saidji, Managing Director and Co-Head of Europe for MSIP.

Newly Published Study Demonstrates Safety and Efficacy of Calyxo’s CVAC Aspiration System for Patients with Large Kidney Stones

Retrieved on: 
Tuesday, November 14, 2023
General Health, Medical Devices, Health, Science, Research, Safety, Mayo Clinic Arizona, Risk, Dell Medical School, Patient, Journal, PCNL, Kidney, Anticoagulant, Moses Austin, SURE, Standard of care, MD, University, Pain, Mayo Clinic, SFR, CVAC, Pharmaceutical industry, Medical imaging, Austin, Texas

“This study confirms that SURE with CVAC is an excellent option for patients with large stone burdens, especially patients who are high-risk to undergo PCNL or patients who prefer a more minimally invasive alternative to PCNL,” said Dr. Stern.

Key Points: 
  • “This study confirms that SURE with CVAC is an excellent option for patients with large stone burdens, especially patients who are high-risk to undergo PCNL or patients who prefer a more minimally invasive alternative to PCNL,” said Dr. Stern.
  • This study builds on a previous safety and feasibility study published in the Journal of Endourology in 2022, which demonstrated that the CVAC Aspiration System could safely navigate throughout the kidney, remove significantly more kidney stone volume, and clear a higher proportion of it compared to traditional basket techniques.
  • This new large-stone study is especially encouraging because it indicates patients may also be spared secondary procedures often required in kidney stone care.
  • The CVAC Aspiration System is a novel technology that uses irrigation and aspiration to remove kidney stones after laser lithotripsy with the goal of a surgically stone-free outcome.

Simply Homes Secures $22M to Expand US Affordable Housing

Retrieved on: 
Thursday, December 7, 2023
Acquisition, Housing, CFO, Love, Jefferies, HubSpot, GoTo (US company), Machine learning, Harvard University endowment, Automation, Home, Ageing, HUD, Partnership, Nation, HCV, Parent, Family, SFR, ESG, Real estate

PORTLAND, Maine, Dec. 7, 2023 /PRNewswire/ -- Simply Homes, an automated Single Family Rental (SFR) sourcing and underwriting platform developed to help solve the affordable housing crisis by mobilizing stagnant housing stock for use in the Housing Choice Voucher (HCV) program, today announced $22M in funding for operations and real estate acquisitions. The financing is led by Gutter Capital and Watchung Capital, with participation from Village Global, Ambush Capital, RavenOne Ventures, Neil Parikh, Gabe Flateman, Luke Sherwin, and others.

Key Points: 
  • Simply Homes is addressing this by implementing its platform to optimize the acquisition, renovation, and leasing of otherwise stagnant housing stock and making it available to lower-income families.
  • Over 80% of Simply Homes' tenant base are single parents who would need to work 150 hours a week to afford market-rate rent on a home.
  • "When we buy into a neighborhood, we are investing in the community," said Brian Bagdasarian, CEO and Founder of Simply Homes.
  • By renovating the aging housing stock, Simply Homes is poised to vastly increase the supply of affordable and section-8 homes available."

KBRA Assigns Preliminary Ratings to Tricon Residential 2023-SFR2

Retrieved on: 
Thursday, November 9, 2023
Professional Services, Finance, Renting, SFR, PD, Microsoft, KBRA, CBSA, LTV, Tricon Residential, LGD, Probability, BPO, CMBS, TCN, Loss given default, RMBS, Property management, Telescopic sight

KBRA assigns preliminary ratings to four classes of Tricon Residential 2023-SFR2 (TCN 2023-SFR2) single-family rental pass-through certificates.

Key Points: 
  • KBRA assigns preliminary ratings to four classes of Tricon Residential 2023-SFR2 (TCN 2023-SFR2) single-family rental pass-through certificates.
  • The subject transaction will be the 11th KBRA-rated securitization issued by Tricon Residential.
  • KBRA adjusted the BPOs, which yielded an aggregate value of $579.4 million, which represents a 7.5% haircut to the nominal BPO value.
  • To determine loss given default (LGD), KBRA assumes the underlying properties would be liquidated in the residential property market.

SVN | SFRhub Marketplace Announces Strategic Platform Expansion with New Client Support Tools for SFR/BFR Rental Home Investment

Retrieved on: 
Thursday, November 9, 2023
Professional Services, Residential Building & Real Estate, Insurance, Commercial Building & Real Estate, Finance, Construction & Property, Principal, SVN, BFR, Growth, SFR, Collection, Entrepreneurship, Financial services, Cryptocurrency

SVN | SFRhub Marketplace (previously SVN | SFRhub Advisors), the premier nationwide platform for investors seeking to buy, sell, finance, insure and manage single-family residential (SFR) and Build-for-Rent (BFR) rental investment portfolios, has strategically expanded its technology platform in response to surging industry growth and heightened client demands.

Key Points: 
  • SVN | SFRhub Marketplace (previously SVN | SFRhub Advisors), the premier nationwide platform for investors seeking to buy, sell, finance, insure and manage single-family residential (SFR) and Build-for-Rent (BFR) rental investment portfolios, has strategically expanded its technology platform in response to surging industry growth and heightened client demands.
  • Under the same ownership and SVN | SFRhub brand, the company has broadened its platform’s scope to encompass its extensive network of Alliance Member client support service providers, resulting in the establishment of an SFR/BFR marketplace.
  • The brand expansion initiative includes a name change to SVN | SFRhub Marketplace and the launch of its upgraded website, www.sfrhub.com .
  • Notably, SVN | SFRhub Marketplace boasts a dedicated team of SFR rental industry experts with extensive experience.

Market Uncertainty Continues to Propel Rental Inventory Growth in Q3 2023, HouseCanary Report Finds

Retrieved on: 
Wednesday, November 8, 2023
Professional Services, Data Analytics, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, Research, SFR, Health, Federal Reserve, Aggregation, Federal, Environment, Growth, Property management, Citrus, Lease

HouseCanary, Inc. (“HouseCanary”), a national brokerage known for its real estate valuation accuracy, today released its latest National Rental Report , showing that Single-Family Rental (SFR) inventory continues to expand with a 31.5% surge in Q3 2023 compared to the previous year.

Key Points: 
  • HouseCanary, Inc. (“HouseCanary”), a national brokerage known for its real estate valuation accuracy, today released its latest National Rental Report , showing that Single-Family Rental (SFR) inventory continues to expand with a 31.5% surge in Q3 2023 compared to the previous year.
  • Southern states have experienced the most upward growth in the number of listings available for rent in the market.
  • Chris Stroud, Co-founder and Chief of Research at HouseCanary, commented: "Q3 2023 reaffirms the single-family rental market's resilience, with steady year-over-year growth in listings and rental prices.
  • HouseCanary’s Q3 Rental Report compares insights from Q3 2022 and Q3 2023 to explore trends shaping the U.S. rental market for single-family detached listings, including price and supply shifts across 46 states and 204 metropolitan statistical areas (“MSAs”) with the most rental market activity.

Tricon Reports Q3 2023 Results as Strong Property Fundamentals Continue

Retrieved on: 
Tuesday, November 7, 2023
Building Systems, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Public expenditure, Growth, SFR, Sale, Appendix, Acquisition, Stock dilution, Section 6 of the Canadian Charter of Rights and Freedoms, NOI, Cryptocurrency, Video game, Real estate, Property management, Bank, Tricon

For the basis of presentation of the Company’s non-IFRS measures and reconciliations, refer to the “Non-IFRS Measures” section and Appendix A.

Key Points: 
  • For the basis of presentation of the Company’s non-IFRS measures and reconciliations, refer to the “Non-IFRS Measures” section and Appendix A.
  • This moderation is attributed to persistently higher mortgage rates and ongoing economic uncertainty which have introduced a level of caution for homebuyers.
  • Core FFO for the third quarter of 2023 was $42.7 million, a decrease of $3.7 million or 8% compared to $46.4 million in the third quarter of 2022.
  • These items were partially offset by NOI growth in the SFR business and stronger results from U.S. residential developments.