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Engel & Völkers Islamorada Breaks Local Record with $11.9M…

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License Partner, John Gallant and Advisor, Joani Towe of Engel & Völkers Islamorada

License Partner, John Gallant and Advisor, Joani Towe of Engel & Völkers Islamorada

While this particular sale only marks my second transaction since joining Engel & Völkers Islamorada, I appreciate their focus on exclusivity, competence, and passion, and I can truly see how it makes a difference to my clients and colleagues.

Engel & Völkers Florida today announced the record-breaking sale of 1150 Bulevar De Palmas. Joani Towe, an advisor with Engel & Völkers Islamorada represented the buyer in their $11,995,000 purchase, which was the highest price seen for a home in Marathon, Florida.

“It was an absolute pleasure working to bring the buyer and seller together on this enviable private estate in Marathon,” said Towe. “While I am proud of achieving this ‘personal best,’ I am overjoyed to have had the opportunity to demonstrate thoroughness, collaboration, honest representation, and tenacity throughout the process. While this particular sale only marks my second transaction since joining Engel & Völkers Islamorada, I appreciate their focus on exclusivity, competence, and passion, and I can truly see how it makes a difference to my clients and colleagues.”

1150 Bulevar De Palmas was originally listed for sale by Robert Cardenas and Matthew Russell Carlson of Ocean Sotheby’s International Realty at $13,500,000. Towe’s client, an oil and gas magnate, purchased the mansion for $11,995,000 in cash. Though it was listed for sale on four separate occasions, this is the first time it has traded hands since being built in 2004. The notable transaction represents the most expensive single family home sale in Marathon, as well as the fourth highest in all of the Florida Keys region. The typical value of homes in Marathon is $536,448, and home values have gone up nearly three percent over the past year.

“From a broker’s perspective, I couldn’t be more proud of an advisor who has dedicated themself to mastering their profession and ends up getting a win like this,” said John Gallant, License Partner of Engel & Völkers Islamorada. “This type of success is what I work towards daily, for all of my real estate advisors. It’s important to note that the level of service and discretion this client experienced is no different than what we offer every buyer or seller who works with an Engel & Völkers. We believe luxury service and bespoke experiences are not determined by a price point; it’s done with passion for all.”

Towe came to Engel & Völkers Islamorada in September 2020 from LoKation Real Estate, bringing over 30 years of experience to serve clients throughout the Florida Keys.

“John and his team experienced immediate success in procuring premium listings, such as 1150 Bulevar De Palmas, when he joined forces with Engel & Völkers and converted his former independent brokerage, Blue 9 Realty,” said Peter Giese, Chief Growth Officer at Engel & Völkers Florida. “This perfectly demonstrates the Engel & Völkers value proposition. We look forward to expanding our brand to other locations throughout the Florida Keys, to bring our ‘list locally, sell globally’ philosophy to better service clients in this lucrative market.”

Appropriately called “Fish Camp” by its previous owner, who is an avid boater and fisherman, this property is centrally located in the fishing capital of the world, the Florida Keys. Strategically situated on the lagoon side, the home’s location was specifically chosen for its protected harbor right behind the house, a rare find. The 11,674-square-foot home has eight bedrooms and thirteen bathrooms. The property includes resort-like grounds with an in-ground pool and tennis court, as well as a large guest house. The 190-foot-long deep water dock is large enough to simultaneously park an 80-foot yacht and a 60-foot yacht on the same seawall. Views of the open ocean from the second floor serve as a reminder that the home is only minutes from the Atlantic Ocean.

“The Florida Keys real estate market seems impermeable, no matter what is happening elsewhere in the country or the world for that matter,” said Timo Khammash, Managing Partner of Engel & Völkers Florida. Record highs were seen here, even after the Keys were virtually cut off from the world by the COVID-19 Traffic Checkpoint for months during the height of the global pandemic. Property values continuously appreciate, and homes continue to trade hands.”

Press contact:

Linzee Werkmeister, Junior Vice President, Marketing & Franchise Support

Email: Linzee.Werkmeister(at)evrealestate.com

Tel: (239) 348-9000

About Engel & Völkers:

Engel & Völkers is a global luxury real estate brand. Founded in Hamburg, Germany in 1977, Engel & Völkers draws on its rich European history to deliver a fresh approach to luxury real estate in the Americas with a focus on creating a personalized client experience at every stage of the home buying or selling process for today’s savvy homeowner. Engel & Völkers currently operates approximately 225 shop locations with 4,500 real estate advisors in the Americas, contributing to the brand’s global network of over 13,500 real estate professionals in more than 30 countries, offering both private and institutional clients a professionally tailored range of luxury services, including real estate, yachting and aviation. Committed to exceptional service, Engel & Völkers supports its advisors with an array of premium quality business services; marketing programs and platforms; as well as access to its global network of real estate professionals, property listings and market data. Each brokerage is independently owned and operated. For more information, visit http://www.evrealestate.com.

About Engel & Völkers Florida:

Engel & Völkers Florida is the Master License Partner of the global luxury real estate brand Engel & Völkers in the state of Florida. Recognized for uniquely recruiting, training and equipping some of the top professionals in the real estate industry, Engel & Völkers Florida’s exclusive franchise model positions its license partners at the top of the premium market to gain market share and support their bottom line. The company represents franchise locations in: 30A Beaches, Amelia Island, Belleair, Boca Raton, Bonita Springs-Estero, Cape Coral, Clermont, Delray Beach, Destin, Fort Lauderdale, Fort Myers Downtown, Gainesville, Hollywood Beach, Islamorada, Jacksonville, Jacksonville Beach, Jupiter, Madeira Beach, Marco Island, Melbourne Beachside, Melbourne Central, Melbourne Downtown, Miami Coconut Grove, Neptune Beach, Olde Naples, Orlando, Orlando Downtown, Orlando-Winter Park, Palm Beach, Palm Coast, South Tampa, St. Augustine, St. Pete, St. Pete Beach, Stuart, Wellington, and Windermere.

Engel & Völkers Florida is continuing to strategically strengthen and expand its presence in premium real estate markets across the state of Florida. If you would like to know more about the Engel & Völkers brand or how to join its global network—which is known for demonstrating competence, exclusivity and passion, feel free to call our corporate office, located at 633 Tamiami Trl N, Suite 201, Naples, FL 34102 USA. Tel: +1 239-348-9000.

For more information about Engel & Völkers Florida, please visit http://www.florida.evrealestate.com

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.prweb.com/releases/engel_volkers_islamorada_breaks_local_record_with_11_9m_sale/prweb17809191.htm

Blockchain

Bubble or a drop in the ocean? Putting Bitcoin’s $1 trillion milestone into perspective

Bitcoin is relatively small compared to stocks and real estate, and those holders might reinvest dividends in other assets.

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On Feb. 19, Bitcoin’s (BTC) market capitalization surpassed $1 trillion for the first time. While this was an exciting moment for investors, it also concerned investors that the asset is in a bubble.

Although a handful of listed companies ever achieved this feat, unlike gold, silver, and Bitcoin, stocks potentially generate earnings, which in turn can be used for buybacks, dividends, or developing additional sources of revenue.

On the other hand, as Bitcoin adoption increases, those same companies will likely be forced to move some of their cash positions to non-inflatable assets, ensuring demand for gold, silver and Bitcoin.

In fact, data shows that diversification between Bitcoin and traditional assets provides better risk-adjusted performance for investors, which is getting increasingly difficult for companies to ignore.

Bitcoin continuing to push above the trillion-dollar mark is also easy to overlook until one compares it to the market cap of other significant global assets. To date, less than ten tradable assets have achieved this feat.

World’s 20 most profitable companies. Source: fortune.com

As depicted above, the world’s 44 most profitable companies combined generate more than $1 trillion in earnings per year. One must keep in mind that stockholders might as well reinvest their dividends into equities, but some of it might end up in Bitcoin.

$1 trillion is small compared to real estate markets

Corporate earnings are not the only flows that may trickle into scarce digital assets. Some analysts estimate that part of the real estate investment, especially those yielding less than inflation, will eventually migrate to riskier assets, including Bitcoin.

On the other hand, current holders of lucrative real estate assets might be willing to diversify. Considering the relatively scarce assets available, stocks, commodities, and Bitcoin are likely the beneficiaries of some of this inflow.

Global real estate markets. Source: visualcapitalist.com

According to the above chart, the global agricultural real estate is valued at $27 trillion. The U.S. Department of Agriculture estimates a return on farm equity at 4.2% for 2020. Albeit very raw data, considering there are multiple uses for agricultural real estate, it is quite feasible that the sector generates over $1 trillion per year.

As recently reported by Cointelegraph, there are 51.9 million individuals worldwide with $1 million or higher net worth, excluding debt. Despite representing only 1% of the adult population, they collectively hold $173.3 trillion. Even if those are unwilling to sell assets in exchange for BTC, an insignificant 0.6% annual return is enough to create $1 trillion.

If there’s a bubble, Bitcoin is not alone

These numbers confirm how a $1 trillion market capitalization for Bitcoin should not be immediately considered a bubble.

Maybe those Bitcoin maximalists are correct, and global assets are heavily inflated due to a lack of scarce and secure options to store wealth. In this case, which doesn’t seem obvious, a global-scale asset deflation would certainly limit BTC upside potential. Unless they somehow think a cryptocurrency can extrapolate global wealth, which seems odd.

Back to a more realistic worldview, the above comparison with equities, agricultural real estate, and global wealth also confirms how insignificant Ether’s (ETH) current $244 billion capitalization is, let alone the remaining $610 billion in altcoins.

Assuming none of the corporate profits or real estate yield will be allocated to cryptocurrencies seems unlikely. Meanwhile, a mere $100 billion annual inflow for Bitcoin is five times higher than the $20.3 billion newly-minted coins per year at the current $59,500 price.

For example, $100 billion flowing into Bitcoin would only be 5% of the $1 trillion yearly corporate dividends and 5% from global wealth or agricultural real estate returns. Even though the impact on gold’s $11 trillion market capitalization would be negligent, such allocations would certainly play a vital role in Bitcoin’s path to becoming a multi-trillion dollar asset.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/bubble-or-a-drop-in-the-ocean-putting-bitcoin-s-1-trillion-milestone-into-perspective

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Crowdfunding

LendInvest Teams Up with Credit Kudos to Improve Underwriting Process via Open Banking

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LendInvest has teamed up with Credit Kudos in order to improve the underwriting process via Open Banking.

Through the partnership, LendInvest and Credit Kudos will aim to provide brokers and clients a more accessible and secure service. The initiative also aims to enable LendInvest with making more informed lending-related decisions with the help of Open Banking insights.

LendInvest is a technology-focused property finance Fintech specialized in providing property developers a more intuitive and flexible way to gain access to commercial property finance. The company chose Credit Kudos to improve its time-to-decision with a seamless customer experience and to enhance affordability and credit risk assessments via Open Banking-powered risk insights.

Unlike the typical credit assessment providers, Credit Kudos leverages Open Banking data to offer a holistic, up-to-date view to lenders of a business or company’s financial situation. By leveraging bank transaction information and loan outcome details, it offers key insights to assist lenders with making informed credit-related decisions.

Credit Kudos’ tech supports a more seamless experience for customers and lenders. It aims to remove the requirement to manually upload business documents, and it also allows lenders to automate many parts of the underwriting assessment process.  LendInvest reports that it experienced a 50% reduction in overall assessment times.

Open Banking insights have also assisted LendInvest with offering its products to clients it was not able to work with before. These customers include self-employed and sole traders who might not have traditional or more typical income patterns. This seamless, quicker application process has also provided a 26% increase in Open Banking-related conversion rates after launching last month.

Arman Tahmassebi, COO of LendInvest, stated:

“Getting rid of the manual documentation process has allowed us to offer a far faster and more convenient service. Although we have been using Open Banking for two years, this new partnership with a like-minded fintech has allowed us to take it to the next level and really reap the benefits of the technology. The greater insights are empowering us to make better informed, faster lending decisions to more people. We have been particularly impressed with the seamless integration of Credit Kudos into our system – the new dashboard is highly intuitive and it’s already helping us serve more customers.”

Freddy Kelly, Founder and CEO at Credit Kudos, remarked:

“Like LendInvest, we are committed to making credit applications smoother and fairer for both the lender and applicant, so this partnership is a natural fit. Open Banking technology is transformative for lenders who want to make smarter and faster decisions to better serve their customers. With our technology in place, lenders can automate the underwriting process and get a far more accurate picture of an applicant’s true financial position. It not only helps them lend responsibly but also opens up their service to underserved customers who may not have traditional income patterns, such as sole traders.”

Credit Kudos’ tech is completely integrated within LendInvest’s application process for buy-to-let mortgages. It will be launched along with integrations within other services in the foreseeable future.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/04/173847-lendinvest-teams-up-with-credit-kudos-to-improve-underwriting-process-via-open-banking/

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Real Estate

Compass CEO hails IPO as a fundraising event amid ‘challenging’ market

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While several tech companies are opting to delay their IPOs in the face of less-than-enthusiastic market demand for their shares, real estate tech company Compass forged ahead and went public today. After pricing its shares at $18 apiece last night, the low end of a lowered IPO price range, Compass shares closed the day up just under 12% at $20.15 apiece.

TechCrunch caught up with Compass CEO and founder Robert Reffkin to chat about his company’s debut in the market’s suddenly choppy waters for tech and tech-enabled debuts.

Regarding whether Compass is a tech company or a real estate brokerage, Reffkin — who raised the comparison himself — used the opportunity to note that companies like Amazon or Tesla aren’t only one thing. Amazon is a logistics company, an e-commerce company, a cloud-computing business and a media concern all at the same time. Price that.

The argument was good enough for Compass to sell 25 million shares — a lowered amount — at its IPO price for a gross worth $450 million. That, the CEO said, was his company’s goal for its public offering.

Sparing TechCrunch the usual CEO line about an IPO not being a destination but merely one stop on a longer journey at that juncture, Reffkin instead argued that putting nine figures of capital into his company was his objective, not a particular price or resulting valuation.

That might sound simple, but as Kaltura and Intermedia Cloud Communications have pushed their IPOs back, it’s a bit gutsy. Still, if financing was the key objective, Compass did succeed in its debut. It was even rewarded with a neat little bump in value during its first day’s trading.

Reffkin did confirm to TechCrunch what we’ve been reporting lately, namely that the IPO market has changed for the worse in recent weeks. He described it as “challenging.”

So why go public now when there is so much capital available for private companies?

Reffkin cited a few numbers, but centered his view around having what he construes as the “right team” and the “right results.” We’ll get a bit more on the latter when Compass reports its first set of public earnings.

For now, it’s a company that braved stormier seas than we might have expected to see so soon after a blistering first few months of the year for IPOs.

And because I would also bring her along if I ever took a company public, here’s the company’s founder and CEO with his mother:

Image Credits: Compass

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://techcrunch.com/2021/04/01/compass-ceo-hails-ipo-as-a-fundraising-event-amid-challenging-market/

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Private Equity

Special situations investor RoundShield beats €200m goal for first pure real estate PE fundraise

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Special situations investor RoundShield Partners has picked up more than €200m to close its first pure real estate pri

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.altassets.net/private-equity-news/by-region/europe-by-region/western-europe-europe-by-region/special-situations-investor-roundshield-beats-e200m-goal-for-first-pure-real-estate-pe-fundraise.html

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