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HomeLight Raises $363 Million to Fuel Rapid Expansion; Valuation…

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We’ve proven that technology can help transform the transaction experience, and we couldn’t be more excited to bring that technology to top agents, homebuyers, and sellers everywhere.” – Drew Uher, HomeLight Founder and CEO

Today, HomeLight, the real estate technology platform that empowers top real estate agents to deliver better outcomes to homebuyers and sellers, announced $363 million of new funding. The round was led by Zeev Ventures, with participation from Group 11, STCAP, Menlo Ventures, and Lydia Jett of the SoftBank Vision Fund.

The round includes $100 million of Series D equity and $263 million in debt financing to power HomeLight Cash Offer™ and HomeLight Trade-In™ operations, bringing HomeLight’s total funding to approximately $530 million to date.

HomeLight will use the funding to accelerate the expansion of its technology platform for agents, including its flagship financial products, HomeLight Trade-In™ and HomeLight Cash Offer™, to new markets across the country. HomeLight also plans to continue hiring and will open new offices across the United States and globally.

“After decades of stagnation in our industry, how we buy and sell homes is fundamentally changing,” said Drew Uher, Founder and CEO of HomeLight. “We’ve built the definitive platform that gives the best real estate agents and their clients the power of contingency-free transactions — whether that’s enabling an all-cash offer, unlocking liquidity of an existing home to buy a new one, or creating certainty through a modern closing process. We’ve proven that technology can help transform the transaction experience, and we couldn’t be more excited to bring that technology to top agents, homebuyers, and sellers everywhere.”

Since the company’s Series C raise in October 2019, HomeLight has:

  • Experienced sustained growth at approximately 3x year-over-year, with annual revenue set to triple to more than $300 million in 2021.
  • Doubled down on its flagship financial products, HomeLight Trade-In™ and HomeLight Cash Offer™, growing the products by more than 700% since their launch in January 2020.
  • Grown the team by more than 180% year-over-year and expanded local operations to Texas, Florida, and Colorado.
  • Appointed Sean Aggarwal, the Chairman of Lyft, Inc. and former Chief Financial Officer of Trulia, to its board.

“When I first led HomeLight’s Series A in 2015, I believed deeply in the team’s vision of making real estate simpler, more certain, and satisfying for everyone involved,” said Oren Zeev, Founding Partner at Zeev Ventures. “Today, HomeLight has delivered on that promise and more. I’m proud to support them as they build the future of real estate transactions.”

To learn more about HomeLight or sign up, visit: http://www.homelight.com

About HomeLight

HomeLight is building the future of real estate — today. Our vision is a world where every real estate transaction is simple, certain, and satisfying for all.

The best real estate agents rely on HomeLight’s platform to deliver better outcomes to homebuyers and sellers during every step of the real estate journey, whether that’s enabling an all-cash offer, unlocking liquidity of their existing home to buy a new one, or creating certainty through a modern closing process. Each year, HomeLight facilitates billions of dollars of residential real estate business on its platform for thousands of agents.

Founded in 2012, HomeLight is a privately held company with offices in Scottsdale, San Francisco, New York, and Seattle, with backing from prominent investors including Zeev Ventures, Menlo Ventures, Group 11, Crosslink Capital, Bullpen Capital, Montage Ventures, Stereo Capital, Citi Ventures, Google Ventures, and others.

For additional information and images: homelight.com/press

Contact:
Annie Dreshfield

Director of Strategic Communications, HomeLight

annie@homelight.com

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Source: https://www.prweb.com/releases/homelight_raises_363_million_to_fuel_rapid_expansion_valuation_reaches_1_6_billion/prweb18166819.htm

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Penetron Waterproofing Keeps Nashville’s Sixth South on Schedule

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Waterproofed with PENETRON ADMIX: The concrete retaining wall was cast against the rock face of the construction site to prevent groundwater from flooding the building site excavation.

By choosing the Penetron System, Skanska and Ceco Concrete Construction were able to stay on schedule by avoiding the complications of a membrane system installation and waterproofing the concrete at the same time as the concrete placement.

In October 2021, the first family moved into their new home at the Sixth South apartment complex in Nashville, Tennessee, a much-needed addition to the booming downtown district. The Penetron System was specified to protect the below-grade concrete structures of the residential complex against water ingress.

The Sixth South apartments are situated on the south side of Nashville’s popular SoBro district, less than two blocks from the renowned Music City Center. The residential complex comprises 299 apartments housed in a 12-story main building, each with views of downtown Nashville. The rental units are available in studio and 1-2-bedroom layouts (570-3,500 ft2). There is also a central parking garage for 300-350 cars, and 5,400 ft2 of commercial space on the ground floor below the rental units. Amenities include a clubroom, fitness center, game room, pet spa, yoga studio, bike garage, outdoor grills and fire pits, and a saltwater pool with an adjacent lounge area.

Structurally, post-tensioned concrete was used for the elevated parking slabs and residential tower elements. The project specifications indicated the need for a waterproofing solution for the below-grade retaining walls of the Sixth South basement structure.

Maximizing the Building Footprint

“While the construction site was being excavated, a large amount of rain and ground water began to leak through the rock face and into the footing excavation,” says Christopher Chen, Director of The Penetron Group. “Because the tight layout made installation of a traditional membrane system impossible due to the lack of working space behind the retaining wall, Penetron was asked to provide a durable waterproofing solution to waterproof the concrete retaining wall that was cast up against the excavated rock face.”

Due to property line constraints at the site, Ceco Concrete Construction, the concrete subcontractor, proposed casting the concrete retaining wall against the rock face at the property line, as water leaking from the rock face was flooding the building pit. Nashville Ready Mix subsequently provided PENETRON ADMIX-treated lean fill to plug up the rock face leaks and for under the foundation footers. PENEBAR SW waterstop strips were installed to seal all resulting construction joints. As part of a “belt and suspenders” approach, Skanska, the general contractor, also waterproofed the remaining below-grade concrete walls with a combination of PENETRON, a topical crystalline waterproofing material, and PENECRETE MORTAR, a crystalline waterproofing repair grout. This approach maximized the building square footage available to Southeast Venture, the project developer.

Permanently Impermeable

Once applied to a prepared concrete surface, the proprietary chemicals in Penetron crystalline products react in a catalytic reaction to generate a non-soluble crystalline formation throughout the pores and capillary tracts of the concrete. This formation permanently self-heals and seals micro-cracks, pores, and capillaries against the penetration of water or liquids from any direction, resulting in impermeable concrete. The non-soluble crystalline formation generated by Penetron becomes an integral part of the concrete matrix for the service life of the concrete.

“By choosing the Penetron System, Skanska and Ceco Concrete Construction were able to stay on schedule by avoiding the complications of a membrane system installation and waterproofing the concrete at the same time as the concrete placement.”

The Penetron Group is a leading manufacturer of specialty construction products for concrete waterproofing, concrete repairs, and floor preparation systems. The Group operates through a global network, offering support to the design and construction community through its regional offices, representatives, and distribution channels.

For more information on Penetron waterproofing solutions, please visit penetron(dot)com or Facebook(dot)com/ThePenetronGroup, email CRDept(at)penetron(dot)com, or contact the Corporate Relations Department at 631-941-9700.

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Source: https://www.prweb.com/releases/penetron_waterproofing_keeps_nashvilles_sixth_south_on_schedule/prweb18259474.htm

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GID Investment Vehicle Achieves Top Rank as Regional Sector Leader in…

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GID announced today that one of its investment vehicles has achieved recognition as Residential Americas Regional Sector Leader, earning 1st place in the 2021 GRESB Real Estate Benchmark in the U.S. Residential, Multifamily Core Non-Listed Category for the second consecutive year. In addition, a second investment vehicle managed by GID in the same asset class has earned a top ten ranking in its first reporting year.

The GRESB Sector Leader Awards Program recognizes real estate and infrastructure companies and funds and assets that have demonstrated outstanding leadership in sustainability and ESG. GRESB data is used by hundreds of capital providers and thousands of asset managers to benchmark investments across portfolios and understand the opportunities, risks, and choices that need to be made as the industry transitions to a more sustainable future.

Each year, GRESB assesses and benchmarks the ESG performance of assets worldwide, providing clarity and insights to financial markets on complex sustainability topics. The GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals and emerging regulations. The GRESB ESG Benchmark grew this year to cover more than $6.4 trillion of assets under management, up from $5.3 trillion the year before.

“Despite the unprecedented challenges we have faced during the last two years, GID’s corporate staff and our Windsor property management teams found creative ways to advance our ESG goals,” says Greg Bates, GID’s President and CEO. “We are proud to be recognized again as a leader in sustainability and will endeavor to raise the bar next year in response to increasingly critical environmental and social issues.”

“Our holistic ESG approach is guided by our core values of responsible investments, efficient properties, healthy people, resilient communities, and transparent operations,” says Phil Carmody, Vice President, Head of Corporate Programs. “These values are directly tied into GID’s mission and incorporated at every level of our operation, preparing us for significant growth with both our ESG platforms and our business goals.”

For the fifth consecutive year, GID has been recognized as a leader in sustainability by achieving a GRESB Green Star, demonstrating continued excellence in ESG management and implementation. Since 2016, GID has implemented a broad array of ESG measures across all areas of the company in support of their mission to leverage its investment, development, and management expertise to enhance the communities in which it invests, lives, and operates.

GID’s 2020 achievements include:

  • Continued LED lighting retrofit program at eight properties, projected to save 562.5 MWh of energy annually, the equivalent of 48 residential homes’ energy use each year.
  • Achieved 15 ENERGY STAR certifications to recognize its highest performing assets.
  • Achieved IREM Certified Sustainable Property certifications for five properties
  • Installed smart irrigation systems at three multi-family properties to reduce outdoor water use.
  • Continued Diversity and Inclusion Internship program for underrepresented candidates to prepare for a career in the real estate industry.

To learn more about GID’s long-term ESG program and to view the 2020 ESG Report, please visit https://www.gid.com/esg/reporting/.

Disclaimer

GID’s 2021 GRESB Ranking was awarded on October 1, 2021 by The Global Real Estate Sustainability Benchmark (GRESB) and is based on CY 2020 performance. GID is a Participating Member of GRESB. Fees paid as a Participating Member totaled USD$9,600.

About GID
GID is a privately-held and vertically-integrated real estate company that develops, owns, and operates a portfolio of multifamily, industrial, and mixed-use developments. With corporate offices in Atlanta, Boston, Dallas, New York, and San Francisco, GID is an experienced real estate private equity investor and manager supported by an integrated operating platform and has 60 years of experience across multiple asset classes. GID’s existing and under-development properties are valued at over $20 billion.

During its 60-year history, GID has developed, managed or acquired over 79,000 residential units and 32.2 million square feet of commercial space in twenty-four states. The current portfolio includes over 37,000 residential units, 1 million square feet of retail and office space, and 18.8 million square feet of industrial space. More information is available at http://www.gid.com.

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Source: https://www.prweb.com/releases/gid_investment_vehicle_achieves_top_rank_as_regional_sector_leader_in_2021_gresb_benchmark_for_second_consecutive_year/prweb18287558.htm

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Sackman Enterprises Breaks Ground on Baypoint, Keansburg’s…

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Photo courtesy Design 446

“We are starting a new chapter in our history book, one which will see a bigger and brighter Keansburg,” said Keansburg Mayor George Hoff.

After over two years of planning, the page has finally turned on Keansburg’s next chapter as Sackman Enterprises (“Sackman”) celebrated the groundbreaking of Baypoint. The highly attended event took place on October 21 at Carr and Bay Avenues. Construction is slated to begin this fall on the new waterfront redevelopment project on the Bayshore.

Carter Sackman, President of Sackman, gave the first speech of the afternoon. “Twenty years ago, we jumped into the Asbury market, and it wasn’t too different than some of the challenges we face here on Carr Avenue. There was vacant space that needed to be revitalized and put back into service,” he said. “What we did there was centered around food and beverage, the arts, creating workforce housing and fair market housing and supporting local retail commercial activities.”

In a span of just 10 years in Asbury Park, Sackman and affiliated entities helped create approximately 400 residential units, as well as 100,000 sq. ft. of retail commercial space and limited office space. “Public and private partnerships can work together,” Sackman asserted.

Sackman is working hard to have a walk-to ferry service that is serviced predominantly by local residents and visitors. “We have been able to secure a $15M bond to help costs associated with the streetscape and boardwalk. We also want to take utility lines underground to create a contemporary seaside town.”

All dignitaries present at the event were excited to see what’s next for the gem of the Bayshore. Representing the Borough of Keansburg were Mayor George Hoff; Cliff Moore, the Economic Community Development Coordinator and event emcee; Raymond B. O’Hare, Borough Manager; Deputy Mayor Thomas Foley; Councilman Sean Tonne; Councilman James Cocuzza, and Councilman Michael Donaldson.

“We are starting a new chapter in our history book, one which will see a bigger and brighter Keansburg,” said Keansburg Mayor George Hoff. “The Borough of Keansburg is pleased to have partnered with the Sackman family to help revitalize Keansburg. For well over 20 years, this section of Keansburg has sat dormant. It was once bustling with arcades and establishments and has since fell into despair and became an eyesore.”

Having seen what Sackman Enterprises has done on Cookman Avenue in Asbury Park, Mayor Hoff has great confidence that Sackman will exceed his expectations. “If you have not been to Cookman Avenue, visit for yourself to see firsthand what they [Sackman] have done in that location,” he said. “We’re hoping, in the near future, that’s what we have here.”

“The redevelopment of a building does not erase the history of it, it gives us an opportunity to build more,” said Mayor Hoff. “The memories all of us have of the arcades, bowling alleys and swimming pools will always be here. The history of these places cannot fade because the buildings are not here. This is an opportunity to create new memories and a new chapter for our history.”

Matt Montekio, District Director of U.S. Congressman Frank Pallone’s office was in attendance to read a letter written from Congressman Pallone, who was unable to attend the ceremony. “Today’s celebration marks the culmination of the transformation of Keansburg’s waterfront,” said Montekio for Pallone. “The redevelopment of this site will be a valuable addition to the community and local economy.”

NJ State Senator Declan O’Scanlon, NJ Assemblyman Gerry Scharfenberger and NJ Assemblywoman Serena DiMaso also took to the podium to express their excitement for the project. “The fact that we are right here at the moment of a truly dramatically transformative project doesn’t happen all that often,” said Senator O’Scanlon. “This truly is a special day. You [Sackman] do have a great reputation. We see what’s going on in Asbury Park and we are counting on you being even more successful here. “

“The Sackman family… they are literally one of the developers that turned the city of Asbury Park around,” said Senator Vin Gopal, representing the 11th Legislative District. “They have done an incredible job developing Cookman Avenue and I am excited to see what’s going to happen to Keansburg in the months and years ahead.”

Monmouth County Board of Commissioners Deputy Director Susan Kiley and Commissioner Nick DiRocco were also in attendance. “It’s very exciting and it’s great to be here with you,” Kiley said. “I look forward to watching this grow and grow into the place we always knew it would be.”

The redevelopment/new construction projects will deliver world class housing and retail options to both year-round residents and visitors alike with a focus on enhancing the connectivity between the waterfront and the heart of Keansburg’s once thriving downtown. The plan includes 700 luxury residential units, more than 45,000 SF of restaurant, entertainment, and retail space, and over 1,000 parking spaces. The first of these projects will be 19 Carr, which as 50 residential units and 4,000 SF of commercial space. To accomplish these goals, Sackman will focus on new development with improved streetscapes along Carr and Beachway Avenues connected to a system of secondary interlinked open spaces, pedestrian pathways, trails, and recreation areas. The design will provide easy access to the Bayshore’s natural beauty while developing a sense of community centered around Keansburg’s historic downtown.

Sackman Enterprises is an international developer specializing in transformative real estate projects and began its operations in 1969 focusing on redevelopment in Manhattan’s Upper West Side. The family-owned business has offices in New York, New Jersey, and Texas and has developed multifamily, mixed-use, commercial, and hospitality properties across its vast international portfolio. To learn more, visit sackman.com.

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Source: https://www.prweb.com/releases/sackman_enterprises_breaks_ground_on_baypoint_keansburgs_redevelopment_district/prweb18294977.htm

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Survey Shows Malaysian Consumers Expect Home Prices to Rise in Year…

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Desire for Home Office Is Biggest Change Since the Pandemic

Desire for Home Office Is Biggest Change Since the Pandemic

Eighty-seven per cent of surveyed Malaysian consumers believe real estate prices will be higher than today by the end of 2022. A total of 83% of respondents say a home office or study space is more important than before the pandemic.

Reacting to the findings, Juwai IQI Co-Founder and Group CEO Kashif Ansari said:

“The survey, conducted from September 28 to October 21, 2021, polled respondents from all over Malaysia. It asked consumers if they believe real estate prices will be higher by the end of 2022. Eighty-seven per cent of respondents said, ‘Yes.’

“The ratio was almost identical for both male and female respondents. That is a change from past surveys, in which men were almost uniformly more optimistic than women about property prices.

“We also asked the survey takers if they believe this is a good time to buy a house or an apartment. Ninety per cent of respondents believe this is a good time to buy. Consumers are very positive about home prices over the next 14 months. Undoubtedly, some consumers feel an urgency to buy before prices climb further.

“Covid has changed the way Malaysians want to live. Buyer preferences today are dramatically different than before the pandemic. What Malaysians would like to have in their homes has significantly changed. The need to have more space in a home has become a top priority for many buyers.

“A total of 83% of respondents say that a home office or study space is more important than before the pandemic. Having a larger home has become more important for 72% of respondents. Private green space is more important for 68% of respondents.

“Perhaps because of the long lockdown, homebuyers today have an intense desire for space. They want to be able to work from home.

“Buyers today want it all. While most Malaysians want more space, 53% of respondents also say building amenities are more important today than before the pandemic.

“Developers are responding by re-drawing floor-plans for their new projects. In some cases, they are choosing to build where land is cheaper so they can afford to offer larger homes.

“We also asked Malaysians how important location is to them. Sixty-four per cent of respondents said being close to the central city is more important today than before the pandemic. Sixty per cent said that being close to a hospital or a clinic was also more important than before Covid struck.

“The pandemic is bringing massive changes to the real estate industry, the way that Malaysians choose to live is different today. Our lifestyle will undoubtedly keep changing in the years to come. This is only the beginning.

“Will the desire for larger homes lead to de-urbanization as people move to rural locations? I don’t think so. The economic and employment activity of the major urban centres in Malaysia is still too important. The cities are centres of gravity that still pull everyone in. I think we are more likely to say an increase in activity in the urban areas that until now have been second-tier. These are locations where land is cheaper and larger homes can be built. They are also still close enough to central city amenities and employment centres.”

ABOUT JUWAI IQI
Juwai IQI is the Asian real estate technology group that empowers residents of Asia to become residents of the world, transacted more than 17,000 properties in 2020 and advertises US$4 trillion of property from 111 countries. We generate 12.9 million monthly active users.

The company offers real estate marketers an end-to-end marketing and sales solution that integrates its super-app, its IQI Global network of more than 21,000 real estate agents, and its online property marketplaces Juwai.com (international real estate portal in China) and Juwai.asia (Asia wide portal for global real estate). Follow Juwai IQI on Twitter, LinkedIn and Facebook and visit https://www.juwaiiqi.com/.

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Source: https://www.prweb.com/releases/survey_shows_malaysian_consumers_expect_home_prices_to_rise_in_year_ahead/prweb18296107.htm

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