Triten Real Estate Partners’ Post

It's time for another report in 9fin's Aroundtown Series. ⏭️ In Part 1, 9fin's Emmet Mc Nally McNally delved into Aroundtown's intricate corporate structure, spotlighting key stakeholders and shedding light on how founder Yakir Gabay and Vivion owner Amir Dayan effectively steer the conglomerate. Now, in Part 2, we take a closer look at the company's expansive capital stack and the impending maturity wall. While the debt stack appears secure until 2026, challenges emerge beyond that horizon. Hybrids with 2024 first call dates raise nearer-term concerns, and it's crucial for Aroundtown bondholders to be mindful of other pari passu debt preceding them in the queue. 👉 Sign up to receive your copy on December 7th — https://lnkd.in/ejS_ZZng Look out for Part 3… 👀 #aroundtown #distresseddebt #restructuring #debtcapitalmarkets #leveragedfinance

#startupoftheweek Avenue One Disrupts US Real Estate Market > Avenue One uses technology to bridge institutional capital and local expertise, optimizing single-family rental investments > The start-up has integrated over 400 local partners, handling over 8000 renovations worth $300M Read more: https://bit.ly/4cTnSPa #internationalfinance #avenueone #realestate #startupoftheweek #propertyinvestment #singlefamilyrentals #techdriven #realestateinnovation #investmentstrategy

Exciting News from SGFusion Living & Blackfish Investments! We are thrilled to announce the merger of SGFusion Living and Blackfish Investments to form Blackfish Companies – your all-inclusive partner in investment and property management of multifamily and student housing. This union marks a milestone in our journey to redefine real estate services, blending over 40 years of unmatched experience in development, acquisitions, asset management, and property management. We will now be offering our property and asset management services to outside companies. The Blackfish Philosophy When it comes down to it, we have one major goal. That is, taking care of our clients. These include residents and investors which one might think have conflicting interests… not us. Through the years we have found that taking care of our residents takes care of our investors. You see, when residents love where they live, they stay. they pay their rent on time and are even willing to pay a higher rent in order to stay. Happy residents will also invite their friends creating a community that is well-connected with higher retention. These factors increase income, decrease vacancy, and decrease expenses providing fantastic returns to our investment partners. A New Era in Real Estate Blackfish Companies stands at the forefront of real estate innovation, from the initial spark of development and construction to the strategic acquisition of properties. We excel at breathing new life into spaces through value-add initiatives and innovative repositioning projects. Having owned and operated assets nationwide for decades, our legacy is one of profound impact and visionary leadership. Your Nationwide Partner in Growth Our ambition knows no bounds as we continue to seek out existing and developmental multifamily projects across the country. At Blackfish Companies, we believe in the power of partnership and innovation to create spaces that not only meet the evolving needs of communities but also exceed expectations. Reach out to discuss how we can collaborate to bring your project to life. #BlackfishCompanies #RealEstateInnovation #PropertyManagement #Development #MultifamilyHousing #RealEstateAcquisition #Partnership #Growth #NewBeginnings

BACK IN THE CHAIR – After some time in Mexico, I’m back and working towards launching a new business. I’m delighted to be advising Sagi Rubin and Ted Orf, and working with Shelby Weiss and her team at Goldman Sachs Asset Management, to get this story plastered everywhere last week was like the good old days again. Aside from that, this story is SIGNIFICANT for a few reasons: 1.     Tene Living's repositioning strategy is popular with investors because it’s been tried and tested in the U.S. and because, while the UK market is nascent, there is now a deep enough well of Gen 1 stock that needs reworking. The discount applied vs new build – and Tene’s expertise in balancing spec and spend vs likely return – will enable investors to realise swift returns in tested and mature locations where they may well end up with a pricing advantage vs newer stock. The firm are being highly-acquisitive. 2.     Many housebuilders, housing associations particularly and developers have legacy stock – some of it not that old – that has substantial issues. I’m categorically not talking about anything owned by Quintain or anyone else mentioned in this post, nor anything within the BTR sphere really. The point is that repositioning strategies will be front and centre this cycle. Firms like Unite and Whitbread, for example, are churning old hotels and PBSA. We talked about the Cycle of Capex in our Trends report you can find here: HITTING RESEBT - TRENDS REPORT https://lnkd.in/eyqdaQiX 3.     The Wemley Saga. Lone Star had a few opportunities to exit and, for reasons best known to themselves, didn’t take them. The tide has changed dramatically and they are now chipping away at the portfolio piece by piece. On the day we announced this, React News broke the story about KKR's own acquisitions, having broken this one last Oct. There is no living human more obsessed with what's going there than David Hatcher, I think it's fair to say. What will all that mean for Quintain? Listen to the podcast I recently did with boss James Saunders – who is a wonderful man who embodies the amazing culture Quintain has built – to find out a bit more: PODCASTS Apple https://lnkd.in/gU6DGdu Spotify https://lnkd.in/gCQwZ45 Property Week feature and audio: https://lnkd.in/eZUrP2NF https://lnkd.in/eg-h6MqT

Expanding into the Apac rental housing market, PGIM Real Estate makes notable acquisitions in Australia, China, and Hong Kong, addressing the under-supplied living sector. Partnering with Point Capital in Australia and a local entity in China, their goal is clear: diversify and capitalize on sustainable income opportunities amidst market volatility. For investors eyeing the Apac market, consider alternative assets and local partnerships for sustainable growth. 🌏🏢 #AnnexionPartners #PoweringPossibilities #BuiltEnvironment #RealEstate #ApacInvestment Ethan Tan, Kotomi Mori, Sloane Covey, Xuefen Guan, Daniel Lim, Nadya S., Sharwn Gill, Fasya Maricar, Sittie Aisah N.

Common Living, one of the largest co-living operators in the US, filed for bankruptcy this week. Food for thought... We are seeing a growing investor appetite for living concepts such as student housing, flex living, and senior living, managed by a small number of operators with, normally, weak balance sheets. Property management is a labor-intensive, low-margin business. The only way for operators to create a sustainable business is by building volume and rapidly expanding into many cities, spreading their bulky overheads across a large number of contracts, yet increasing their risk profile significantly. Unless backed by venture capital, these companies don't generate enough cash to invest in technology or hire the best talent, yet managing properties successfully is highly dependent on the quality of the people that operators can hire and train, as well as the robustness of their management systems. Being spread so thin makes it challenging to hire the best talent and create sound communities. https://lnkd.in/di_jis3d

Fantastic article delving into the rationale behind Avenue Living’s growth strategy for the back half of 2023 and the start of 2024.     Read more here: https://lnkd.in/gCNuy3EK #assetmanagement #realestate

As we're nearing the end of the year, we've taken a look back at the history of Capital Square, a story of how evolving tax-advantaged real estate investment opportunities can indeed build the future for investors, team members and communities. https://lnkd.in/egZY9Z82

Hartford Village Commons Apartments is incredible opportunity that fits our Columbus investment Strategy. 🌟 Why We’re the Columbus Strong Team: Proven Track Record: Greenlight Equity group lead by Ohio Native, Tate Siemer, has extensive experience in the Columbus market with multiple successful property acquisitions and exits over the past few years. Local Expertise: Greenlight Equity group has a deep understanding of Columbus’s unique real estate dynamics and growth trends. With boots on ground the lead by Adam Pasternack, living just minutes away from Hartford Village. We’re excited to present Hartford Village Commons Apartments, a prime investment opportunity that aligns perfectly with our Columbus buy box criteria. 🔍 Why We’re Excited About This Deal: Immediate Profitability: Stabilize cash flow and profitability from day one. Modern Asset: 2015 vintage, Class B+ property. High-Growth Submarket: Positioned in an explosive, tech-driven area of Columbus. 🌟 Why We’re Thrilled About Columbus: Top U.S. Market: Leading the nation in population growth. Affordability Leader: #1 for cost-effective living. Tech Boom: Major employers like Intel, Amazon, and Honda EV are building and investing billions. We are accepting 1031 and Funds For webinar access and more details, check out the link in the comments. 🔒 Note: This 506c passive investment opportunity is available exclusively to accredited investors. #RealEstateInvesting #Multifamily #PassiveIncome #AccreditedInvestors #investwithscottkidd

🚨 But why? This makes sense given the ‘higher for longer’ environment the real estate industry finds itself in. Mynd most likely needs balance sheet cash, and Roofstock’s opportunistic raise in 2021 suggests they are well positioned here. Roofstock needs efficient, recurring revenue, given that the acquisitions environment has really dried up. Mynd has doubled down on refining their property management revenue. Two talented teams trying to survive.  Rivals, though?  That’s a bit of clickbait.  The industry is hard enough without rivals. #realestate #proptech https://lnkd.in/giD8KEJn