Residential Building & Real Estate

Toorak Capital Partners Expands Small-Balance Multifamily Bridge Lending

Tuesday, December 10, 2019 - 3:56pm

Toorak Capital Partners , the largest capital provider to the private real estate lending industry, announces today the firm is expanding its small-balance multifamily bridge loan program.

Key Points: 
  • Toorak Capital Partners , the largest capital provider to the private real estate lending industry, announces today the firm is expanding its small-balance multifamily bridge loan program.
  • Multifamily investors seeking to purchase and renovate multifamily properties using loans of up to $10 million have very few capital sources available, says John Beacham , CEO of Toorak Capital Partners.
  • Toorak Capital Partners provides capital to multifamily originators on a correspondent basis through its nationwide network of origination partners, enabling local and regional lenders to close more loans without locking up capital.
  • To learn more about Toorak Capital Partners multifamily bridge loan program, please contact Devang Patel at dpatel@toorakcapital.com or (212) 461-4135.

Counter Capital Management Acquires the Shirt Corner Apartments located in the heart of Historic Old City, Philadelphia for $22 Million

Tuesday, December 10, 2019 - 3:36pm

Owned and controlled by Christian Dalzell and Mukang Cho, Counter Capital Management LLC (Counter Capital) announced today that it closed the purchase of the Shirt Corner Apartments (the Property).

Key Points: 
  • Owned and controlled by Christian Dalzell and Mukang Cho, Counter Capital Management LLC (Counter Capital) announced today that it closed the purchase of the Shirt Corner Apartments (the Property).
  • Ideally located on the northeast corner of Market Street and 3rd Street in the heart of the Historic Old City, Counter Capital purchased the Property for $22 million.
  • Counter Capital plans to unlock incremental value by enhancing the Propertys operations, lowering costs and improving the amenities offered at Shirt Corner by pursuing strategic capital improvement projects.
  • Counter Capital Management is a real estate investment manager that invests in multifamily and mixed-use projects in select U.S. markets.

JM Releases Full Line of Densities for JM CladStone™ Water & Fire Block Mineral Wool Insulation

Tuesday, December 10, 2019 - 4:00pm

Johns Manville (JM), a Berkshire Hathaway company and leading building products manufacturer, announced the launch of JM CladStone 110 and JM CladStone 80.

Key Points: 
  • Johns Manville (JM), a Berkshire Hathaway company and leading building products manufacturer, announced the launch of JM CladStone 110 and JM CladStone 80.
  • With this release, JM now offers a full line of product densities on its exterior commercial mineral wool insulation, JM CladStone Water & Fire Block.
  • Johns Manvilles Commercial Mineral Wool Product Manager Eric Dake explained that the varying densities of JM CladStone are a crucial component for many installers.
  • The latest release of JM CladStone 80 (8.0 pcf) and JM CladStone 110 (11.0 pcf) rounds out the JM CladStone portfolio, offering a variety of densities for diverse and varied applications and installations.

Company Profile for Evergreen Apartment Group

Tuesday, December 10, 2019 - 3:09pm

Evergreen Apartment Group is a privately held company with a portfolio of apartment communities in Delaware and Maryland that have been acquired autonomously by the members of the Wolfgang Family, who have successfully owned and managed market rate apartment complexes since 1978.

Key Points: 
  • Evergreen Apartment Group is a privately held company with a portfolio of apartment communities in Delaware and Maryland that have been acquired autonomously by the members of the Wolfgang Family, who have successfully owned and managed market rate apartment complexes since 1978.
  • Evergreen and its subsidiaries are actively engaged in the ownership, management, development, design, and construction of multifamily real estate.
  • The company is staffed with a team of property management professionals, highly skilled maintenance technicians, and a variety of trade specific construction personnel.
  • The company is a proud member of the Delaware Apartment Association, the Maryland Multi-Housing Association and the National Apartment Association.

Flyhomes Announces Expansion Into New Competitive Housing Markets: Boston, Portland, and Southern California

Tuesday, December 10, 2019 - 2:00pm

Flyhomes, the Seattle-based startup reinventing the home buying process, is announcing that they are expanding operations to three new housing markets.

Key Points: 
  • Flyhomes, the Seattle-based startup reinventing the home buying process, is announcing that they are expanding operations to three new housing markets.
  • Flyhomes is now superpowering the way people buy homes in Boston, MA, Los Angeles and Orange County, CA and Portland, OR.
  • Our approachwhich brings every step of the process under one roofhelps buyers separate fear from risk to make more informed home-buying decisions.
  • To offer clients a truly seamless experience, the Flyhomes family of companies includes FlyHomes, Inc., and its wholly-owned subsidiaries: FlyHomes Brokerage, LLC, FlyHomes Mortgage, LLC, FlyHomes Closing, LLC, and Madre Homes, LLC (d/b/a FlyHomes Crew).

ConnectSense Launches Smart In-Wall Outlet With Capacitive Touch and Ultra-Precise Energy Monitoring for Consumer and Commercial-Grade Applications

Tuesday, December 10, 2019 - 2:00pm

The outlets relays can be used to turn on/off each individual outlet through the available ConnectSense app, capacitive touch-controlled buttons, or voice commands via third party devices.

Key Points: 
  • The outlets relays can be used to turn on/off each individual outlet through the available ConnectSense app, capacitive touch-controlled buttons, or voice commands via third party devices.
  • The Smart In-Wall Outlet is compatible with iOS and Android, and supports Apple HomeKit, Amazon Alexa, and Google Assistant voice platforms, allowing simple control of your devices.
  • ConnectSenses Smart In-Wall Outlet is one of the only dual controlled and metered 20A outlets on the market.
  • The ConnectSense's Smart In-Wall Outlet allows for ultra-precise monitoring of the total power usage of each outlet with real-time voltage readings.

PGTI To Acquire NewSouth Window Solutions

Tuesday, December 10, 2019 - 1:10pm

PGT Innovations, Inc. (NYSE: PGTI), a national leader in premium windows and doors, including impact-resistant products and products designed to unify indoor/outdoor living spaces, today announced it has signed a definitive agreement to acquire NewSouth Window Solutions (NewSouth) for a purchase price of $92 million in cash, subject to adjustments.

Key Points: 
  • PGT Innovations, Inc. (NYSE: PGTI), a national leader in premium windows and doors, including impact-resistant products and products designed to unify indoor/outdoor living spaces, today announced it has signed a definitive agreement to acquire NewSouth Window Solutions (NewSouth) for a purchase price of $92 million in cash, subject to adjustments.
  • NewSouth is a manufacturer and installer of factory-direct, energy-efficient windows and doors, including both impact-resistant and non-impact residential products.
  • NewSouth has eight retail showrooms in several locations throughout Florida, with an additional showroom in Charleston, South Carolina, and is the only vertically integrated window dealer in Florida.
  • Raymond James is acting as financial advisor and Foley & Lardner LLP is acting as legal counsel to NewSouth Window Solutions.

CoreLogic Reports U.S. Overall Delinquency Rate Lowest for a September in at Least 20 Years

Tuesday, December 10, 2019 - 1:00pm

The September 2019 foreclosure inventory rate tied the prior 10 months as the lowest for any month since at least January 1999.

Key Points: 
  • The September 2019 foreclosure inventory rate tied the prior 10 months as the lowest for any month since at least January 1999.
  • In September 2019, four metropolitan areas in the Midwest and Southeast recorded small annual increases in overall delinquency rates.
  • While the nations serious delinquency rate remains at a 14-year low, 14 metropolitan areas recorded small annual increases in their serious delinquency rates.
  • CORELOGIC and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries.

CF Real Estate Services Awarded Management of 484-Unit Multifamily Property in Tampa

Tuesday, December 10, 2019 - 1:00pm

CF Real Estate Services (CF), a leader in the investment, development, and management of multifamily properties across the country, has been awarded property management of the 484-unit Moncler Isles by the purchaser a unit of Royal Imperial Group of Chicago.

Key Points: 
  • CF Real Estate Services (CF), a leader in the investment, development, and management of multifamily properties across the country, has been awarded property management of the 484-unit Moncler Isles by the purchaser a unit of Royal Imperial Group of Chicago.
  • The asset, located at 6158 Beacon Isles Drive Tampa, FL, is a high-demand location in Tampas sought-after Westchase neighborhood.
  • CF Real Estate Services (CF) is an award-winning, multifamily real estate company with properties across the Southeast, Mid-Atlantic, Central, and Midwest regions of the United States.
  • With decades of industry experience, the company has evolved into a leading provider of multifamily services that include property management, asset management, and consulting.

Red Balloon Security Partners with Siemens to Deliver Cybersecurity to Building Automation Systems

Tuesday, December 10, 2019 - 12:00pm

Red Balloon Security, a leading embedded device security company, has partnered with Siemens Smart Infrastructure (SI) to deliver enhanced cybersecurity for its building automation systems.

Key Points: 
  • Red Balloon Security, a leading embedded device security company, has partnered with Siemens Smart Infrastructure (SI) to deliver enhanced cybersecurity for its building automation systems.
  • This collaboration will initially feature embedded security for Siemens building automation controllers and will be deployed in 2020.
  • By integrating Red Balloon Securitys firmware runtime protection, Siemens can offer an embedded security solution to harden its building controllers, helping its customers defend against advanced cyber threats to building automation systems.
  • Partnering with Red Balloon Security underlines our commitment in this field and will enhance the cybersecurity of our building automation systems, he added.