SFR

Phoenix Tower International closes on 1,978 Sites across France

Retrieved on: 
Thursday, August 31, 2023
Cellnex, European Market Infrastructure Regulation, Bouygues Telecom, City, Growth, BOCA, Monolithic kernel, Acquisition, European, PTI, SFR, News

BOCA RATON, Fla., Aug. 31, 2023 /PRNewswire/ -- Phoenix Tower International (PTI), a global leader in wireless infrastructure, is proud to announce a significant milestone - in the expansion of its business in France.

Key Points: 
  • BOCA RATON, Fla., Aug. 31, 2023 /PRNewswire/ -- Phoenix Tower International (PTI), a global leader in wireless infrastructure, is proud to announce a significant milestone - in the expansion of its business in France.
  • PTI successfully closed two transactions today with respect to 1,978 sites strategically located in very dense urban areas across France.
  • The closings include the acquisition of 1,226 sites hosting SFR through a subsidiary 100% owned by PTI, and the expansion of Phoenix France Infrastructures 2, a subsidiary of PTI, through the addition of 752 sites hosting Bouygues Telecom.
  • "With these transactions, PTI diversifies its portfolio across France with sites located all over the country, including major cities to better serve the populations with strong wireless connectivity.

Appreciate Holdings, Inc. (SFR) Stock News: Robbins LLP is Investigating the Officers and Directors of Appreciate Holdings, Inc. on Behalf of Investors

Retrieved on: 
Tuesday, August 29, 2023
Class Action Lawsuit, Professional Services, Legal, SPAC, Appreciation, Acquisition, SFR, Holding company

Shareholder rights law firm Robbins LLP is investigating Appreciate Holdings, Inc. (NASDAQ: SFR) to determine whether certain Appreciate Holdings officers and directors violated securities laws and breached fiduciary duties to shareholders by engaging in a conflicted SPAC process.

Key Points: 
  • Shareholder rights law firm Robbins LLP is investigating Appreciate Holdings, Inc. (NASDAQ: SFR) to determine whether certain Appreciate Holdings officers and directors violated securities laws and breached fiduciary duties to shareholders by engaging in a conflicted SPAC process.
  • In November 2022, special purpose acquisition company Prop Tech Investment Corporation II completed a business combination with Appreciate, after which the company proceeded to operate as Appreciate Holdings, Inc.
  • While the stock briefly traded over $10.00, it now trades around $0.32.
  • What Now: Appreciate Holdings, Inc. shareholders have legal options.

Appreciate Receives Notice From Nasdaq Regarding Late Filing of its Form 10-Q

Retrieved on: 
Friday, August 25, 2023
Rule, Delinquent, SFR, Calendar, Form 10-K, Form 10-Q, Notice, Form, Security (finance), Cryptocurrency

The Notice advised the Company that it was not in compliance with Nasdaq’s continued listing requirements under the Nasdaq Listing Rule 5250(c)(1) (the “Rule”) because it has not timely filed the Form 10-Q with the Securities and Exchange Commission (the “SEC”).

Key Points: 
  • The Notice advised the Company that it was not in compliance with Nasdaq’s continued listing requirements under the Nasdaq Listing Rule 5250(c)(1) (the “Rule”) because it has not timely filed the Form 10-Q with the Securities and Exchange Commission (the “SEC”).
  • Following a submission of a plan to regain compliance with the Rule, Nasdaq had granted the Company an exception until October 16, 2023, to file its delinquent Form 10-K for the period ended December 31, 2022 (the “Initial Delinquent Filing”) and Form 10-Q for the period ended March 31, 2023.
  • Nasdaq has informed the Company that it must submit an update to its original plan to regain compliance with respect to the filing requirement no later than September 5, 2023.
  • The Notice has no immediate effect on the listing or trading of the Company’s securities.

Entera Garners 2023 PropTech Breakthrough Award For “Real Estate Search Solution Of The Year”

Retrieved on: 
Wednesday, August 23, 2023
Software, Construction & Property, Networks, Data Management, Technology, Other Construction & Property, Other Technology, Residential Building & Real Estate, Artificial intelligence, AI, Investment, SFR, Property technology, Real estate, Entera

“We’re revolutionizing the way real estate investors buy, sell and operate their single family real estate investments.

Key Points: 
  • “We’re revolutionizing the way real estate investors buy, sell and operate their single family real estate investments.
  • The ‘Real Estate Search Solution of the Year’ award from PropTech Breakthrough is very meaningful as we consider ourselves to be relentless innovators,” said Martin Kay, co-founder and CEO at Entera.
  • “We're dedicated to building products and experiences that empower residential real estate buyers, sellers and service partners to successfully work together.
  • Professional capital has been moving into residential real estate, and traditional methods of investing are no longer adequate,” said Bryan Vaughn, Managing Director of PropTech Breakthrough Awards.

MetLife Investment Management Announces Final Close of Single Family Rental Fund at $390 Million

Retrieved on: 
Tuesday, August 15, 2023
Finance, Professional Services, Residential Building & Real Estate, Asset Management, Construction & Property, Housing, Louisiana Agricultural Finance Authority, SFR, MIM, MetLife, MET, NYSE, Real estate, Financial services

MetLife Investment Management (MIM) , the institutional asset management business of MetLife, Inc. (NYSE: MET), announced today that it has successfully closed the MetLife Single Family Rental Fund, LP (SFR Fund) with $390 million in capital commitments.

Key Points: 
  • MetLife Investment Management (MIM) , the institutional asset management business of MetLife, Inc. (NYSE: MET), announced today that it has successfully closed the MetLife Single Family Rental Fund, LP (SFR Fund) with $390 million in capital commitments.
  • MIM’s single-family rental (SFR) strategy is focused on developing and acquiring purpose-built, single-family rentals across the 75 largest U.S. markets.
  • The SFR Fund is the first closed-end vehicle launched by the MIM real estate equity team.
  • James Ray, who previously oversaw regional acquisitions and development activity in the southwest United States, is the portfolio manager for the SFR Fund.

Inc. 5000 Ranks Poplar Homes Among the Fastest-Growing Private Companies in America

Retrieved on: 
Tuesday, August 15, 2023
Database, Housing, SFR, Microsoft, Student, Metro, Santa Clara University, MSA, Chobani, Wood, Cryptocurrency, Poplar

CUPERTINO, Calif., Aug. 15, 2023 /PRNewswire/ -- Inc. revealed today that Poplar Homes is No. 865 on its annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. In addition to making its debut on the Inc. 5000 in the top third of the overall list, Poplar Homes ranked as the 13th fastest-growing company headquartered in the San Jose, Sunnyvale, Santa Clara, Calif. MSA and the 31st fastest-growing real estate company in the country.

Key Points: 
  • 865 on its annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America.
  • Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other household name brands gained their first national exposure as honorees on the Inc. 5000.
  • "We are honored to be included on the 2023 Inc. 5000 list of America's fastest-growing public companies," Poplar Co-Founder and CEO Greg Toschi said.
  • Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022.

Planet Financial Group Reports Gains in Origination, Servicing, Asset Management

Retrieved on: 
Thursday, August 10, 2023
MSR, Government National Mortgage Association, DSCR, ENotes, SFR, Acquisition, Financial adviser, Real estate, Beauty salon, Q3, Refinitiv, Planet

MERIDEN, Conn., Aug. 10, 2023 /PRNewswire/ -- In the second quarter of 2023, Planet Financial Group, LLC, parent of national mortgage lender and servicer Planet Home Lending, LLC and Planet Management Group, LLC, reported double-digit growth in origination, servicing and asset management.

Key Points: 
  • MERIDEN, Conn., Aug. 10, 2023 /PRNewswire/ -- In the second quarter of 2023, Planet Financial Group, LLC , parent of national mortgage lender and servicer Planet Home Lending, LLC and Planet Management Group, LLC , reported double-digit growth in origination, servicing and asset management.
  • "Planet experienced double-digit organic growth, while we continued to take advantage of select acquisition opportunities during the second quarter of 2023," said Michael Dubeck, CEO and President of Planet Financial Group, parent of Planet Home Lending.
  • Planet Home Lending's servicing portfolio ended the quarter at $96.94 billion, up 26% from $77.03 billion at Q1 2023.
  • In the second quarter of 2023, Planet Management Group increased the volume of managed assets by more than 25% and welcomed several new residential and commercial clients to the platform.

Tricon Reports Q2 2023 Results Driven by Strong Housing Fundamentals

Retrieved on: 
Tuesday, August 8, 2023
REIT, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Workforce, Block, Maintenance, Housing, Taylor, The Ivy (UK), Housing Corporation, SFR, Canada Mortgage and Housing Corporation, Tax, Core, Larry Tanenbaum, Recycling, Lethenteron appendix, Selby, CMHC, City, Acquisition, HOA, Section 6 of the Canadian Charter of Rights and Freedoms, NOI, Growth, Adjustment, Hand, Appendix, Video game, Real estate, Property management, Cryptocurrency, Security (finance), Tricon

The growth in NOI was primarily attributable to a $13.6 million or 14.4% increase in rental revenues as a result of a 7.3% increase in the average monthly rent ($1,792 in Q2 2023 vs. $1,670 in Q2 2022) and 3.6% portfolio growth (Tricon's proportionate share of rental homes was 21,656 in Q2 2023 compared to 20,910 in Q2 2022), and a 1% increase in occupancy (95.6% in Q2 2023 compared to 94.6% in Q2 2022).

Key Points: 
  • The growth in NOI was primarily attributable to a $13.6 million or 14.4% increase in rental revenues as a result of a 7.3% increase in the average monthly rent ($1,792 in Q2 2023 vs. $1,670 in Q2 2022) and 3.6% portfolio growth (Tricon's proportionate share of rental homes was 21,656 in Q2 2023 compared to 20,910 in Q2 2022), and a 1% increase in occupancy (95.6% in Q2 2023 compared to 94.6% in Q2 2022).
  • Single-family rental same home NOI growth was 6.3% in the second quarter of 2023, compared to the same period last year.
  • This favorable change was driven by a 6.6% increase in rental revenue as a result of a 6.7% higher average monthly rent ($1,733 in Q2 2023 compared to $1,624 in Q2 2022), an improvement in bad debt (0.9% in Q2 2023 compared to 1.8% in Q2 2022) and slightly lower occupancy (97.5% in Q2 2023 compared to 98.0% in Q2 2022).
  • Tricon's net assets were $3.8 billion at June 30, 2023, increasing by $44 million when compared to $3.8 billion as at March 31, 2023.

KBRA Releases Monthly CMBS Trend Watch

Retrieved on: 
Friday, August 4, 2023
Professional Services, Commercial Building & Real Estate, Finance, Construction & Property, Consulting, Banking, KBRA, Yoy, Optimism, CRE, Publication, Research, SFR, Cryptocurrency

KBRA releases the July 2023 issue of CMBS Trend Watch.

Key Points: 
  • KBRA releases the July 2023 issue of CMBS Trend Watch.
  • Three conduits announced in July (with two being priced), in line with the pace of three transactions each in May and June.
  • In July, KBRA published pre-sales for five deals ($4 billion) including three conduit ($2.5 billion) and two CRE CLO ($1.5 billion) transactions.
  • This month’s edition also highlights recent KBRA research publications, which cover various topical issues.

MADISON INTERNATIONAL REALTY TO COMMIT UP TO $150 MILLION IN STRATEGIC GROWTH CAPITAL TO REI NATION, A LEADING SINGLE FAMILY RENTAL OPERATOR / MANAGER

Retrieved on: 
Wednesday, August 2, 2023
REI, MIR, Clothier, Dislocation, Growth, Soares dos Reis National Museum, SFR, Financial services, Turnkey

NEW YORK, Aug. 2, 2023 /PRNewswire/ -- Madison International Realty , a leading real estate private equity firm, today announced it has agreed to commit up to $150 million in strategic growth capital to REI Nation , a vertically integrated single family rental (SFR) operator with over 7,600 homes under management.

Key Points: 
  • NEW YORK, Aug. 2, 2023 /PRNewswire/ -- Madison International Realty , a leading real estate private equity firm, today announced it has agreed to commit up to $150 million in strategic growth capital to REI Nation , a vertically integrated single family rental (SFR) operator with over 7,600 homes under management.
  • Madison believes the REI Nation equity stake will allow both firms to pursue exciting opportunities in the SFR market.
  • A privately held company, REI Nation has a 20-year track record of operating in the SFR space.
  • Madison also provides equity solutions to real estate platforms seeking to retain assets, grow portfolios and/or raise capital more efficiently.