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Northrop Realty Continues Expansion with New Office & Community…

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Northrop Realty's Quarry Lake Office

Northrop Realty opens newest location at Quarry Lake In Baltimore County

It’s a huge asset for us to have the top producing mega team Singer Black Frankle Sacks, who has already established themselves as an integral part of the Pikesville community, merge together and launch this office.

Northrop Realty, A Long & Foster Company, announced the opening of its new location at Quarry Lake in Baltimore County. Last month, Northrop Realty opened its Bethany Beach coastal headquarters and an office in Millsboro, Delaware, allowing the brokerage to grow by 50 real estate agents between the three new offices.

“Even before this recent market surge, we were experiencing unrivaled growth year-over-year in terms of sales volume and the sheer number of transactions,” said Creig Northrop, founder and CEO of Northrop Realty. “Our Lutherville-Timonium office, in particular, was at capacity with plans for a renovation, so Quarry Lake was a natural expansion. It’s a huge asset for us to have the top producing mega team Singer Black Frankle Sacks, who has already established themselves as an integral part of the Pikesville community, merge together and launch this office.”

The 2,048 square foot community center is located in the premier dining, shopping, and office district Quarry Lake at Greenspring. Marni Sacks and Julie Singer, previously of The Sacks Singer Team of Berkshire Hathaway Homeservices, have merged with The Frankle Black Team of Northrop Realty, led by Jory Frankle and Eric Black. The new entity, The Group., Singer Black Frankle Sacks of Northrop Realty, will anchor this location with 23 agents at the time of launch.

“The decision for the four of us to join together was completely organic. It simply made sense,” said Marni Sacks. “We all have known each other for years, and as we’ve excelled in our real estate careers, we realized it’s because we all share the same core values of growing ourselves, our agents, and our community,” said Julie Singer.

“The four of us bring decades of real estate knowledge and experience which equips us with the ability to handle any situation and collaborate to help solve any new problems that might arise,” said Eric Black. “This isn’t a job for us, this is a lifelong passion of helping our clients and the communities we serve,” added Jory Frankle.

The brokerage has experienced steady growth, with 50 agents joining Northrop Realty year-to-date. “The pandemic put our industry to the test. More than ever, agents want to grow, learn and feel valued,” said Carla Northrop, CEO of Northrop Realty. “Our commitment is to provide our clients and agents – on both sides of the bridge – with the best in the business. Technology, training, leadership, and marketing resources are the keys to our successful growth. The Quarry Lake community center allows us to better provide our best-in-class experience to our clients and agents in the area.”

Northrop Realty is currently interviewing top real estate talent to join its Quarry Lake office, and interested agents are encouraged to reach out via the office’s phone number at 410.653.7700. Located at 2580 Quarry Lake Drive Baltimore, MD 21209, space previously occupied by Amuse Toys, Northrop Realty will hold a grand opening event at the Quarry Lake location this summer.

Northrop Realty, A Long & Foster Company, evolved from the No. 1 ranked real estate team in the nation*, the Creig Northrop Team of Long & Foster Real Estate. As a full-service brokerage, Northrop Realty represents buyers and sellers of residential real estate in the Baltimore and Washington metropolitan regions with offices in Annapolis, Clarksville, Columbia, Ellicott City, Fallston, Frederick, Silver Spring, Sykesville, and Lutherville-Timonium. Northrop Realty also services Pennsylvania and operates coastal office locations in West Ocean City, Maryland, Fenwick Island, Bethany Beach, and Millsboro, and Delaware. Creig and Carla Northrop have more than 25 years of experience in real estate and lead more than 275 licensed real estate professionals. Northrop Realty was ranked as the No. 1 specialty brokerage in the nation by REALTrends for 2019 based on closed sales volume. (http://www.northroprealty.com)

*By sales volume, according to the REAL Trends 1000

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Source: https://www.prweb.com/releases/northrop_realty_continues_expansion_with_new_office_community_center_in_quarry_lake/prweb17992407.htm

Blockchain

Miami real estate firm accepts crypto deposits for condos after conference

Driven by momentum from the Miami Bitcoin event, luxury condo development E11EVEN Hotel and Residences has already secured its first crypto deposit.

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Miami-based E11EVEN Hotel and Residences is claiming to be the first real estate company to allow deposits for property purchases in the form of cryptocurrency.

Speaking to Fox Business, company and condominium project co-founder, Marc Roberts, stated the enthusiasm for crypto has been “really astounding”.

Roberts noted that local interest in crypto assets had piqued amid the recent Bitcoin Miami conference — which took place earlier this month and drew crowds of approximately 50,000 according to its organizers.

He noted there has been a “tremendous response” to E11EVEN’s announced support for crypto, adding it had already collected its first deposit in crypto before officially announcing it would accept digital assets.

Roberts added that E11EVEN is now roughly one month away from collecting its second crypto deposit, predicting the down payment will be worth between 10% and 15% of the property’s sale price.

The company offers plush high-rise residences in Miami’s Park West district. Prices for the lavish units start at $377,400, according to real estate agent Miami Residential. The 65 story condominium has 375 units, with the penthouse expecting to fetch as much as $10 million.

Roberts described supporting crypto as one the firm’s “greatest decisions,” warning: “those that don’t embrace [crypto] will be left behind:”

“I think the whole movement is trending towards more buyers paying in crypto and we are very excited to be the first people to take cryptocurrency for deposits on real estate.”

Related: DJ David Guetta puts luxury Miami pad up for sale, will accept 380 Bitcoin for it

The real estate mogul acknowledged the volatile nature of digital assets, but was confident that the younger generation is unperturbed by price fluctuations and have already embraced digital assets.

When asked if he immediately liquidates crypto deposits to eliminate the volatility, Roberts offered little clarity, stating: “It’s all so new and we’re studying and we’re trying to embrace the movement.”

In mid-May, Cointelegraph reported that investors could buy luxury apartments in Portugal using Dogecoin among other digital assets.

Also in May, it was reported that Miami’s Arte Surfside luxury apartments, home to Ivanka Trump, were accepting payment for real estate in multiple cryptocurrencies including Bitcoin and Ethereum.

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Source: https://cointelegraph.com/news/miami-real-estate-firm-accepts-crypto-deposits-for-condos-after-conference

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Crowdfunding

Build to Rent Investor Amro Partners Establishes VC Division to Invest in Proptech, Fintech Initiatives

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Amro Partners, the leading Build to Rent and PBSA investor and operator, has introduced a Venture Capital division that aims to invest in transformational Proptech and Fintech initiatives that address major pain points and promote new, customer-focused business models.

Supported by a family office, Amro is looking to make several strategic investments during the next twelve months. The company says it will mainly focus on technology initiatives that make a considerable impact on the built environment space, which includes carbon reduction and sequestration, waste management, financial inclusion and customer-focused models that enhance the user experience (UX).

The company further noted that it will be working as co-investors and strategic advisors, offering deep industry knowledge and the chance to test out MPV (Minimum Viable Products) in the residential living sector.

Amro’s first investment in the residential property transaction platform Coadjute should help with reducing or eliminating inefficiencies in residential property transactions by digitally connecting purchasers, sellers, estate agents, conveyancers, surveyors, mortgage brokers, and lenders.

By leveraging blockchain or distributed ledger tech (DLT), Coadjute lets all parties involved in a property transaction share relevant data and documents in a secure manner via their software, which helps lower costs, while also reducing the risk of fall-throughs and expediting the process of purchasing and selling homes.

After several successful pilots, the Pre Series A funding round should enable Coadjute to make investments in its B2B SaaS team while also supporting the gear up to launch in the summer months of this year.

Ami Kotecha, Head of Venture Investments at Amro Partners and Director on the Board of the UK Proptech Association, stated:

“Customer and end-user experience is a key theme of our venture investment strategy, and our investment in Coadjute encapsulates that commitment. There are around one million transactions in the UK housing market every year, with a home being the single largest asset for many people. A vast majority of those transactions are conducted using semi-automated, duplicative processes that make buying or selling property expensive and fraught with friction and risk. In addition to our capital investment, we look forward to supporting Coadjute with residential sector insights and industry-wide connections.”

Dan Salmons, CEO at Coadjute, remarked:

“I’m delighted to have Amro Partners joining our panel of investors in Coadjute. With their deep expertise in the property market, they bring first-hand knowledge of the industry and share our passion for making the process of buying and selling property radically better through digital connectivity. We look forward to working together with Ami, Raj and their team over the coming months as we launch and scale our unique blockchain network.”

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Source: https://www.crowdfundinsider.com/2021/06/176587-build-to-rent-investor-amro-partners-establishes-vc-division-to-invest-in-proptech-fintech-initiatives/

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IOT

Changing the Commercial Property Insurance Market with IoT

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Commercial Real Estate
Illustration: © IoT For All

The Internet of Things (IoT) is a network of different smart devices, other times called ‘things’ that connect to the internet to provide 24/7, instant, and reliable data sharing. IoT refers to various kinds of technologies being used today, such as smartwatches or self-driving cars that use the internet to relay information back to their manufacturers. This cloud-based technology also offers instant updates and notifications to insurance companies and their customers. Currently, over 26 billion devices are connected worldwide, and this number is predicted to continue increasing exponentially.

For the commercial property insurance market, IoT can greatly advance the way insurance services are priced. With additional big data analysis, businesses can better evaluate potential risks and provide more efficient services to their customers. Read on to understand how technology and IoT are changing the commercial property insurance market.

Insurers Can Offer Better Coverage at Reduced Costs

Insurance companies are always looking for new ways to expand their products, offer better coverage, and maintain low premiums to attract more customers. With the way technology has advanced, data has become power, and with that power comes revenue. One of the biggest limitations commercial insurance has been prone to over the last 200 years is the lack of capability to monitor and provide information in real-time to both customers and insurers.

Many insurance companies are taking advantage of drone and smart building technology to manage their security interests. Newer technology for commercial property insurance also uses sensors on buildings that monitor fluctuations in the movement of the earth, predicting possible natural disasters. This type of data collection and analysis allows the insurance companies to manage better and regulate risks, which can help lower premiums because potential pay-outs can be calculated.

Privacy and Security Issues May Arise

A benefit of utilizing IoT in business is that easy access to vast amounts of information and statistical analysis can help predict and foresee possible future events. This can assist with a more effective operation for many industries, as even overhead costs and potential losses can be better projected for the customer and insurer.

A major issue that commercial property insurance companies face is the access and protection of customers’ data. Insurance policies will need to be amended as IoT is implemented to ensure that the customer understands what information may be collected and stored. The policy will also need to consider if the information belongs to the insurance company or the customer. Strict confidentiality and privacy rules will be required to protect the customer at all costs.

With privacy in mind, now more than ever, people are vulnerable to cybersecurity attacks and hacks by those trying to gain access to another person’s personal information. Major investments into cybersecurity protection will be a high yet essential cost if insurance companies want to remain in business.

Collaboration with Technology Experts Will Increase

The only way for commercial property and other insurance companies to remain in the industry is to partner with technology’s latest organizations and initiatives. This may include smartwatch technology worn by those working in a commercial property or even smart building features that regulate heating and air conditioning. Regular devices such as these installed in commercial buildings have become so smart that the device can tell when the property is empty, and HVAC systems can be turned off. Additionally, if the building is too hot or cold, the device can regulate the temperature before employees enter the building.

Insurers are now able to warn customers of potential losses that may happen due to various reasons. They can also provide a much-improved customer service experience because potential risks can be predicted and managed long before they happen. There is still a lot to be researched as IoT gains popularity. Still, the way commercial property insurance works will be changed forever as information sharing and connection with data and smart devices evolve.

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Source: https://www.iotforall.com/changing-the-commercial-property-insurance-market-with-iot

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Private Equity

LPs hungry to up PE exposure amid records returns – but picking the right funds remains tough: Coller Capital Barometer

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The majority of institutional investors are gunning to commit to private equity amid the current climate – but poo

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Source: https://www.altassets.net/private-equity-news/by-pe-sector/venturegrowth/lps-hungry-to-up-pe-exposure-amid-records-returns-but-picking-the-right-funds-remains-tough-coller-capital-barometer.html

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