Construction & Property

Prepare for a Cooldown: CoreLogic Reports Home Prices Were Up in May, but Could Slump Over the Summer

Tuesday, July 7, 2020 - 1:00pm

Despite new contract signings rising year over year in May, home price growth is expected to stall in June and remain that way throughout the summer.

Key Points: 
  • Despite new contract signings rising year over year in May, home price growth is expected to stall in June and remain that way throughout the summer.
  • CoreLogic HPI Forecast predicts a month-over-month price decrease of 0.1% in June and a year-over-year decline of 6.6% by May 2021.
  • For example, single-family home prices in Philadelphia experienced an annual gain of 7.7% in May, compared to San Franciscos 1.1%.
  • CORELOGIC, the CoreLogic logo, CoreLogic HPI and CoreLogic HPI Forecast are trademarks of CoreLogic, Inc. and/or its subsidiaries.

Newforma Announces the Release of Newforma Project Center™ v12.4

Tuesday, July 7, 2020 - 2:00pm

Newforma, provider of Project Information Management (PIM) software for architects, engineers, contractors, and owners (AECO) worldwide, announces Newforma Project Center v12.4 is generally available.

Key Points: 
  • Newforma, provider of Project Information Management (PIM) software for architects, engineers, contractors, and owners (AECO) worldwide, announces Newforma Project Center v12.4 is generally available.
  • As project information continues to become fractured across cloud services and file storage locations, its getting increasingly hard to manage.
  • Newforma Project Center remains unique with its powerful search and centralized dashboard, which helps you get the information you need regardless of where its stored, said Aaron Kivett, Director of Strategic Partnerships, Newforma.
  • The integration with BIM 360 further streamlines collaboration for Newforma customers, providing increased flexibility to view, search, and manage their BIM 360 files directly within Newforma Project Center.

Apple Hospitality REIT Announces Dates for Second Quarter 2020 Earnings Release and Conference Call

Tuesday, July 7, 2020 - 2:00pm

To access the call, participants from within the U.S. should dial 877-407-9039, and participants from outside the U.S. should dial 201-689-8470.

Key Points: 
  • To access the call, participants from within the U.S. should dial 877-407-9039, and participants from outside the U.S. should dial 201-689-8470.
  • A replay of the call will be available from approximately 1:00 p.m. Eastern Time on August 7, 2020, through 11:59 p.m. Eastern Time on August 28, 2020.
  • Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States.
  • Apple Hospitalitys portfolio consists of 233 hotels with more than 29,700 guest rooms located in 87 markets throughout 34 states.

Bridge Launches Agency MBS Strategy

Tuesday, July 7, 2020 - 2:00pm

Bridge Investment Group (Bridge), one of the largest private equity real estate managers with over $20 billion of assets under management, announced today the launch of their Open-Ended Agency Mortgage-Backed Securities strategy via the Bridge Agency MBS Fund Manager LLC (Bridge Agency MBS).

Key Points: 
  • Bridge Investment Group (Bridge), one of the largest private equity real estate managers with over $20 billion of assets under management, announced today the launch of their Open-Ended Agency Mortgage-Backed Securities strategy via the Bridge Agency MBS Fund Manager LLC (Bridge Agency MBS).
  • Prior to joining Bridge, Mr. Chandarana managed Fannie Maes Agency MBS and Collateralized Mortgage Obligations portfolio.
  • Bridge Agency MBS invests in residential mortgage-backed securities (Agency MBS) that are guaranteed by a U.S. Government Sponsored Entity (GSE), with a proprietary strategy designed to mitigate market dislocations and preserve principal.
  • Via Bridges subsidiary Bridge Agency MBS Fund Manager LLC, Bridge has already raised capital to create a greater than $600 million diversified portfolio.

Hyatt to Expand Thompson Hotels Portfolio in the Southern US

Tuesday, July 7, 2020 - 2:00pm

These hotels will join the Thompson Hotels portfolio, which recently introduced the 225-room Thompson Washington D.C. on January 8, 2020.

Key Points: 
  • These hotels will join the Thompson Hotels portfolio, which recently introduced the 225-room Thompson Washington D.C. on January 8, 2020.
  • The Thompson portfolio of lifestyle hotels includes The Beekman and Gild Hall in New York City; Thompson Nashville; Thompson Seattle; Thompson Chicago; The Cape in Los Cabos, Mexico; Thompson Playa del Carmen in Riviera Maya, Mexico; Thompson Zihuatanejo on Mexicos Pacific Coast; and its newest property, Thompson Washington D.C. in the Navy Yard neighborhood.
  • Hotels currently under development include Texas properties in Dallas, San Antonio, Austin and Houston, as well as Thompson Denver, Thompson Buckhead and Thompson Savannah.
  • The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences, vacation ownership properties, and fitness and spa locations, including under the Park Hyatt, Miraval, Grand Hyatt, Alila, Andaz, The Unbound Collection by Hyatt, Destination, Hyatt Regency, Hyatt, Hyatt Ziva, Hyatt Zilara, Thompson Hotels, Hyatt Centric, Caption by Hyatt, Joie de Vivre, Hyatt House, Hyatt Place, tommie, Hyatt Residence Club and Exhale brand names, and operates the World of Hyatt loyalty program that provides distinct benefits and exclusive experiences to its valued members.

 Notarize Experiences 400% Growth in 90 Days

Tuesday, July 7, 2020 - 1:00pm

The pandemic has fast-tracked market acceptance and business operations for Notarize, accomplishing many milestones in the past 90 days:

Key Points: 
  • The pandemic has fast-tracked market acceptance and business operations for Notarize, accomplishing many milestones in the past 90 days:
    Opening its platform for its partners notaries to fulfill their own notarizations and real estate closings.
  • Onboarding more than 1,600 notary applicants in 90 days.
  • Notarize is the first notary public platform allowing any person or business to get their documents legally notarized online.
  • Founded in 2015, Notarize has helped tens of thousands of individuals and businesses (on every continent, except Antarctica) get documents digitally notarized.

KKR Appoints Simon Marrison as Senior Advisor for Real Estate in Europe

Wednesday, July 8, 2020 - 7:00am

In his role, Mr. Marrison will advise KKR on real estate investments across Europe and help contribute to the growth of KKRs real estate business in the region.

Key Points: 
  • In his role, Mr. Marrison will advise KKR on real estate investments across Europe and help contribute to the growth of KKRs real estate business in the region.
  • Ralph Rosenberg, Partner and Global Head of KKR Real Estate, and Guillaume Cassou, Partner and Head of KKR Real Estate Europe, said: Simon has built an impressive track record in the real estate industry across sectors and cycles.
  • Simon Marrison said: I am very proud and excited to be supporting KKR's Real Estate team as a Senior Advisor.
  • KKR Real Estate is a global provider of equity and debt capital across real estate investment strategies, with more than $10 billion of assets under management.

ASSA ABLOY Joins Zigbee Alliance Board of Directors

Tuesday, July 7, 2020 - 1:05pm

The Zigbee Alliance , an organization of hundreds of companies creating, maintaining, and delivering open, global standards for the Internet of Things (IoT), today announced ASSA ABLOY Group the global leader in access solutions has joined the Alliances Board of Directors.

Key Points: 
  • The Zigbee Alliance , an organization of hundreds of companies creating, maintaining, and delivering open, global standards for the Internet of Things (IoT), today announced ASSA ABLOY Group the global leader in access solutions has joined the Alliances Board of Directors.
  • As a major manufacturer of residential and commercial access solutions, our product lines depend on efficient, reliable, and secure communications to operate effectively, said Martin Huddart, Head of Smart Residential, ASSA ABLOY.
  • In August 2000, ASSA ABLOY acquired Yale, one of the best-known and most-respected names in the industry since 1840.
  • The Zigbee Alliance board of directors is comprised of executives from Amazon , Apple , ASSA ABLOY , Comcast , Google , Huawei , IKEA , The Kroger Co. , LEEDARSON , Legrand , Lutron Electronics , NXP Semiconductors , Resideo , Schneider Electric , Signify (formerly Philips Lighting), Silicon Labs , SmartThings , Somfy , STMicroelectronics , Texas Instruments , Tuya , and Wulian .

Woodmont Lodging, Milestone Companies and Blue Vista Capital Management Announce Joint Venture Recapitalization of 388-Room, Full-Service Sheraton Milwaukee Brookfield Hotel

Tuesday, July 7, 2020 - 1:55pm

Woodmont Lodging, a leading hotel company, Blue Vista Capital Management, a leading real estate investment firm, and Milestone Companies, a premier full-service real estate development company specializing in hotel assets, today announced the joint venture recapitalization of the 388-room Sheraton Milwaukee Brookfield Hotel in Wisconsin.

Key Points: 
  • Woodmont Lodging, a leading hotel company, Blue Vista Capital Management, a leading real estate investment firm, and Milestone Companies, a premier full-service real estate development company specializing in hotel assets, today announced the joint venture recapitalization of the 388-room Sheraton Milwaukee Brookfield Hotel in Wisconsin.
  • Woodmont Lodging and Milestone Hospitality will acquire a minority interest in the hotel and provide asset management services.
  • The Sheraton Milwaukee Brookfield Hotel benefits from its prime location in the reinvigorated Brookfield submarket, said Elliott Estes, principal, Woodmont Lodging.
  • The Sheraton Milwaukee Brookfield Hotel project marks the third hotel transaction completed by Woodmont Lodging, Milestone Companies and Blue Vista since 2018.

GreenGen Awarded U.S. Army Corps of Engineers MATOC

Tuesday, July 7, 2020 - 1:01pm

Green Generation ( GreenGen ), a global provider of energy efficiency solutions, announced today that it has been awarded a Indefinite Delivery/Indefinite Quantity (IDIQ) Energy Savings Performance Contracting (ESPC) Multiple Award Task Order Contract (MATOC) from the U.S. Army Corps of Engineers, Engineering and Support Center in Huntsville, Alabama.

Key Points: 
  • Green Generation ( GreenGen ), a global provider of energy efficiency solutions, announced today that it has been awarded a Indefinite Delivery/Indefinite Quantity (IDIQ) Energy Savings Performance Contracting (ESPC) Multiple Award Task Order Contract (MATOC) from the U.S. Army Corps of Engineers, Engineering and Support Center in Huntsville, Alabama.
  • GreenGen is looking forward to providing value to the Army Corps of Engineers, which we have been successfully doing in the commercial real estate industry for the last nine years, says Brad Dockser, chief executive officer of GreenGen.
  • We are proud that the Army Corps of Engineers is making a commitment to meet energy and sustainability goals, and the entire GreenGen team is honored to be part of this process.
  • By fronting capital costs, the contract allows the Army to prioritize projects that support readiness and focus on modernization and reform.