Posts Tagged ‘real estate’

Victory Park Capital Expands into Real Estate Sector with Investment in Renovo Financial | Business Wire

CHICAGO–(BUSINESS WIRE)–Victory

Park Capital (VPC), an asset management firm focused on middle

market debt and equity investments, announced today that it will make a

$50 million investment, with a $100 million potential upsize, in Renovo

Financial, a Chicago-based private lending company that assists

rehabilitation investors in acquiring, renovating and selling/renting

residential properties. The investment will refinance Renovo’s existing

portfolio, finance loan portfolio growth and support expansion into new

markets outside of the Chicagoland counties.

“Renovo’s market leadership in the Chicagoland area, experienced

management team and industry knowledge are exceptional,” said Tom

Affolter, partner at VPC. “We believe this is an opportunistic time to

partner with Renovo to help provide loans in the underserved residential

rehab lending space and expand into new markets.”

Founded in 2011 by Kevin Werner, CEO of Renovo, and Granite Creek

Partners, a Chicago-based private equity firm, Renovo originates

short-term rehab loans and long-term landlord loans to creditworthy and

experienced residential rehab investors enabling them to reduce their

cost of capital as well as efficiently acquire and sell properties at

highly attractive rates of return. After building a robust

infrastructure and experienced management team over the last three

years, Renovo will use the funding to accelerate growth initiatives and

diversify its product offerings to better serve its customers.

Werner said, “Our goal for Renovo is to play an active role in

addressing the funding needs of the residential rehab community. The

massive dislocation in the credit markets during the recession provided

an opportunity for a specialized finance company, like Renovo, to

provide capital to creditworthy residential rehabbers. In partnering

with VPC, we are pleased to have secured a large amount of capital to

fulfill the needs of our borrowers as they continue to enjoy success in

their businesses.”

“We are excited to team up with a firm as knowledgeable and experienced

in the specialty lending industry as VPC to continue to scale our

business,” added Mark Radzik, partner at Granite Creek. “With our

seasoned leadership and VPC’s expertise, we are confident Renovo is well

positioned to drive future growth.”

About Victory Park Capital

Victory Park Capital (VPC) is a privately held registered investment

advisor dedicated to alternative investing through the management of its

investment funds. As specialists in credit and private equity

investments, VPC focuses on middle market companies across a diversified

range of industries. Whether as a lender or a control investor, VPC

seeks to identify opportunities where it believes the potential for

reward outweighs the risks entailed. Founded in 2007, VPC is

headquartered in Chicago with additional resources in Los Angeles, New

York and San Francisco. For more information visit: http://www.victoryparkcapital.com.

About Renovo Financial

Renovo is a rapidly growing specialty finance business designed to

capitalize on the significant market opportunity in providing capital to

residential real estate investors. Founded in 2011, Chicago-based Renovo

is the premier provider of financial and strategic support for real

estate investors and property rehabbers who invest in and rehab

single-family and small multi-family properties. Renovo powers the

growth of its customers’ businesses and the communities they serve by

providing timely capital, responsive customer service, and assistance in

all phases of a project for its clients. Renovo’s clients are

experienced rehab investors and project managers, whose goals are to

redevelop properties to buy, fix, and flip for a short-term profit or

buy, fix and hold as a part of a long-term portfolio. Renovo’s

high-touch service, expert advice, and speed combined with flexible and

innovative loan products allow its borrowers to commit to and undertake

projects with confidence. Renovo typically funds small to mid-sized

projects up to $1 million. For more information visit: http://www.renovofinancial.com.

About Granite Creek Partners

Granite Creek Partners is a Chicago-based investment firm founded in

2005 that provides equity and debt capital to public and private

companies and innovative specialty finance for underserved industries.

Granite Creek pursues situations where a flexible investment approach

can deliver unique and highly customized solutions across an array of

investment types. With a focus on investing in fundamentally sound

U.S.-based middle market companies, Granite Creek looks to accelerate

the building of its portfolio companies through global expansion, add on

acquisitions and access to growth capital. For more information visit http://www.granitecreek.com.

Be the first to comment - What do you think?  Posted by admin - August 12, 2017 at 5:08 am

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Another Tenant-In-Common Acquisition; SCI Real Estate Investments Acquires a $22M Office Complex in the San Fernando Valley with 9 Other Tenant-In-Common Investors.

Business & Real Estate Editors

WEST LOS ANGELES, Calif.–(BUSINESS WIRE)–Oct. 10, 2003

SCI Real Estate Investments is pleased to announce the acquisition of the 130,219-sq.-ft. Jade Corporate Center property located in Mission Hills, Calif., (adjacent to Granada Hills) in the San Fernando Valley. This 94%-occupied, 4-building office complex was purchased for $22,164,450. SCI principals Marc Paul and Robert Robotti represented the buyers, and Lynwood Fields of Madison Partners represented the seller.

SCI is one of the nation’s largest 1031 investment sponsors. SCI acquired the property with 9 other tenant-in-common investors who are completing 1031 exchanges, and with SCI’s private investor group.

Marc Paul, president of SCI, commented: “This is yet another example of the growing 1031 tenant-in-common industry. It is projected that of the approximately $50 billion a year in 1031 exchange transactions, only 2% are represented by tenant-in-common programs. By all accounts, within 5 years, perhaps 10% of these transactions will be TIC deals. That’s $5 billion a year.

“With our background, experience, and this growing marketplace, SCI is perfectly positioned to sponsor these TIC investments. The added benefit we bring is that we can sell 1031 exchangers an undivided, fractionalized ownership position as a tenant-in-common with other investors, placing their funds in a much larger and higher quality project than they could possibly afford on their own.”

About SCI

SCI has been in business since 1994, and has a portfolio valued at $230+ million. SCI corporate offices are located in West Los Angeles, and the company is recognized throughout the real estate, investment, and banking communities as one of the most active, professional, and astute real estate investors in the market today.

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Investing For Cash Flow and Financial Independence

Financial Planners will always tell you to diversify. That’s a good idea except that diversification is usually exercised by most people solely through the purchase of many different mutual funds. It is still investing in mutual funds or the stock market. There are ways to obtain wealth (and financial security) that you may not currently be exploring, ways that go beyond buying mutual funds.

Instead of planning for retirement, plan to reach Financial Independence instead. True Financial Independence is an easily measurable known target, and is a goal that can actually be reached within a short period of time. How? Through passive income. Generate positive cash flow from hard assets such as real estate income property. Rental income is passive income for the most part, especially if you have a solid property manager taking care of the details.

The principles of creating a long-term, on-going cash flow can be applied to most kinds of real estate investments. Mobile home lots, apartments, garage/storage units, and houses all make excellent income producing assets. Houses, in particular, low-end houses, make an excellent vehicle for creating long-term cash flow for a multitude of reasons.

While appreciation is often the most significant form of profit for real estate investors, investing for cash flow is easier to determine and with lower risk. So how do you achieve positive cash flow ethically in the real world? You need to buy in the rare market where high capitalization rates (15%+) are the norm. Such markets are usually depressed like Rochester or Memphis and have a large pool of renters. The reason tenants are willing to pay more to rent than they would have to pay to own in such markets is that they believe property values are falling or level in which case not owning is a good idea in spite of the high rent. Positive cash flow is so rare and so desirable that it eventually attracts out-of-town investors. Their coming into Rochester or Memphis or wherever causes property values to climb so that high cap rates are no longer available.

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Commercial Loans With No Recourse Are Still Available In This Credit Environment

A Securities Loan (not a margin loan) allows investors to borrow against their securities portfolio to create liquidity while staying in the market and enjoying the benefits of dual appreciable assets at once. Margin loans have been around forever but they are expensive and risky and they are usually maxed out at 50% of the portfolio value. On top of that, they can be called at any time. Why not explore borrowing up to 80% of your portfolio without all the risk?

If you need money to complete your development project or acquire a distressed asset for pennies on the dollar and you own securities (stocks, bonds, mutual funds and other securities) you or your client should consider a securities loan. Distressed assets are trading for pennies on the dollar and if you have the experience to manage and stabilize them then why not borrow against your securities to acquire them? Most people borrow against the home they live in. And they borrow against their business property. And against the car they drive. So why not borrow against your securities especially since the terms are so good?

Benefits Of a Securities Loan:

– Interest rates between 4.0% and 6.0% – Fixed Interest Only

– No credit or FICO requirements – In fact, you should not be asked for your credit score at all

– No minimum income requirements –

– Interest-only loan payments

– No upfront, application or due diligence fees

– Funds may be used for any purpose, personal or business use, including real estate purchase, business expansion, etc.

– No personal guarantee (a non-recourse loan) . The loan is collateralized by the pledged securities only – not by real estate and not by other personal property

– No residency or citizenship requirements – foreign nationals qualify for this loan – world-wide

– Stocks held in some foreign stock exchanges qualify – call for details

– Close in a matter of days

– Minimum loan size – $500,000 – no maximum

– Terms of 3, 5, 7, or 10 years

– Borrower keeps all dividends and upside market appreciation of the securities

Securities Backed Lending may be the funding solution you’ve been looking for!

Remember, this type of non recourse lending allows the borrower to use their investments to obtain funds for personal or business use. Using your investments as collateral you are able to borrow money with low interest rate financing.

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Berger Singerman Hosts Hurricane Preparedness Week Series to Ready Florida Businesses for Storm Season | Business Wire

MIAMI–(BUSINESS WIRE)–Berger

Singerman, Florida’s business law firm, has announced it will host a

series of educational workshops from June 6-10 to prepare local business

owners for the upcoming hurricane season. With a total of 14 named

storms, eight hurricanes and three major hurricanes predicted for the

2016 storm season, this year is expected to be the most active season

Florida has seen since 2012 according to a recent forecast

from The Weather Company’s Professional Division.

These seminars are open to the public and will be hosted by the firm’s

team members specializing in insurance, real estate and construction

litigation. The workshops will focus on an array of topics aimed to

prepare the community in the unfortunate event of a disaster.

The series will include:

  • Monday, June 6:

    • “Best Practices in Handling Insurance Claims” webinar:

      Presented by attorneys Gina Clausen Lozier, Michael Higer and Jeff

      Wertman, this online course will provide insight on best practices

      to assist condominium and homeowner associations with insurance

      claims. More details and link to sign up can be found here.

  • Tuesday, June 7:

    • “Preparing Your Business for Loss” workshop: Attorneys

      Michael Higer, Marc Schuster and Gina Clausen Lozier will host, in

      association with the Greater Miami Beach Hotel Association, an

      in-person course educating hospitality professionals on how to

      prepare for loss of business income resulting from hurricane

      damage. The workshop will take place at Berger Singerman’s Miami

      office located at 1450 Brickell Avenue, 19th Floor at

      8:30 A.M. More details can be found here.

  • Thursday, June 9:

    • “The Burdens of Proof for Public Adjusters” workshop: This

      in-person course will be presented by attorneys Michael Higer,

      Gina Clausen Lozier and Jordan Jacob on helpful tips for public

      adjusters to tackle the burdens of proof of loss following a

      storm. The workshop will take place at Berger Singerman’s Fort

      Lauderdale office located at 350 East Las Olas Boulevard, first

      floor community room, from 9:30 A.M. to Noon. More details can be

      found here.

      This program has been approved for two hours of Florida public

      adjuster continuing education credit.

In addition to the educational courses, the firm will also offer

comprehensive online information to provide the community with tools and

information that can be helpful during and after a natural disaster. The

firm’s blog, Doing

Business in Florida, will feature several new posts focusing on:

  • How insurance agents should prepare clients for hurricane season

  • The effects of storms on governmental entities

  • Considerations for utility companies arising out of hurricanes

  • A hurricane’s impact on the agricultural industry

  • What bankruptcy trustees need to know about hurricane claims

  • Tax implications of insurance proceeds

  • How businesses can protect themselves from cybersecurity issues during

    a storm

  • Preparation tips for landlords discussing potential hurricane risks

  • Considerations when making a first-party claim

For more information on these seminars and to access all blogs, webinars

and articles, please contact Stephanie Vazquez at svazquez@bergersingerman.com.

About Berger Singerman

Berger Singerman LLP, Florida’s business law firm, has more than 80

attorneys working out of offices in Boca Raton, Fort Lauderdale, Miami

and Tallahassee. Members of the firm have expertise in all areas of

commercial law, including banking, business reorganization, corporate

securities and M&A, dispute resolution, employment law, white collar

crime, real estate, environmental and land use, insurance, tax, estate

planning, and probate. For more information, please visit www.bergersingerman.com

or the Doing Business in Florida resource www.flabusinesslaw.com.

Be the first to comment - What do you think?  Posted by admin - August 3, 2017 at 2:05 am

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What Are Jantri Rates And Its Importance in Real Estate Business?

People who belong to real estate sector or frequent buyer or seller of real estate property must have heard the terminology called “Jantri Rates”. It plays a significant role during buying or selling real estate properties.

By definition, jantri rate is a document, which contains the market rates of immovable properties determined by Land Revenue Department, Government of Gujarat for the purpose of registration during the process of Buy/ Sale/ Transfer. Jantri rates are subject to change for different locations or areas of state. Total value of any property and stamp duty payable during buy. Sale. Transfer of that property, is calculated on the basis of the specified rate known as “Jantri Rates”.

Earlier, at the time of transaction of immovable properties, a buyer used to pay stamp duty at the contracted rate. After the registration process, Deputy Stamp Collector would visit the site and inspect the property and fix the value thereof and stamp duty thereon. If the stamp duty is less than the duty paid by the buyer, he had to pay the compensated amount.

In 2007, Government of Gujarat amended rule 45(1) of the Registration Act by issuing a circular, which made it mandatory to pay full stamp duty, payable for the property at the “Jantri Rates” to register any immovable property. The main reason to pass this amendment was to plug the loophole for undervaluation or overvaluation of property and stamp duty. Jantri rates were revised in the year 2011 and critics of this system, especially builders and consumers stated that it has advanced up the land prices significantly. It is obvious that the land price rise is directly proportional to the prices of constructed buildings/ houses/ flats and stamp duty payable on those properties as stamp duty is paid pro-rata. All these price hikes, ultimately have increased real estate prices, affecting genuine consumers and developers in a negative manner.

Be the first to comment - What do you think?  Posted by admin - July 13, 2017 at 1:48 pm

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Macy’s, Inc. Outlines Moves to Drive Profitable Growth and Enhance Shareholder Value | Business Wire

CINCINNATI–()–Macy’s, Inc. (NYSE:M) today outlined a series of initiatives to drive

profitable growth, enhance shareholder value and strengthen Macy’s as

America’s preferred omnichannel shopping destination. The company will

heighten the Macy’s brand with exclusive products and an improved

shopping experience. Plans also include re-creating Macy’s physical

store presence as customer shopping preferences and patterns evolve,

reallocating investments to highest-growth-potential store and digital

businesses, and capitalizing on opportunities within the company’s real

estate assets.

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Investing Money to Make Money

There are many people who are not aware of the secret of ‘sowing money to reap money’. They are of the belief, that investments should only be done to save taxes. What they don’t realize is, if investing is done thoughtfully and systematically, it will always give great returns. But for that, gathering proper knowledge is essential. Given in the following paragraphs, is information, that uncovers for you a few secrets of becoming wealthier.

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Foremost, let’s get one thing cleared, you need at least a little amount of capital to spare, that can be used to invest in various investment instruments, so that you garner the desired returns.

Best Options

Stock Market

Investing in the stock market by selecting a few stocks, through proper research and thinking, can yield good results. The stock predictions given by stock experts, can make stock market dealings simpler. This can also be one of the finest short-term investment options for smart traders. It is seen that long-term stocks, available at a cheap or reasonable valuation can give unbelievable returns to the investors.

Mutual Funds

Mutual funds are generally a much easier and a safer option, than playing the stock market individually. The best mutual funds would be the ‘large cap diversified funds’, that helps you beat market fluctuations in a convincing way. They not only offer a lot of flexibility, but also surety of returns.

Real Estate

Real estate is one of the most dynamic forms of investment. You may have heard of stock prices getting reduced by 50% or 70% or even more. But, under normal circumstances, realty prices never get reduced so much. So, this reflects the stability of real estate investments both in the residential, as well as the commercial field.

In fact, real estate prices can appreciate fast in developing regions, as land and homes come into demand. This makes real estate one of the best ways to invest money.

Bonds

Investing money is easier in the case of bonds, as you are entitled for ‘fixed annual returns’ from the corporation issuing the bonds. So, even in the times of a bad market and difficult phases for the company, you will be earning the amount which has been promised to you.

Gold can also be one of the options, which you can consider apart from the above mentioned ideas.

In summation, I would say that you should contemplate, compare and then take the right call. Do not invest in haste, and more so, do not expect overnight results. Good luck!

Be the first to comment - What do you think?  Posted by admin - July 8, 2017 at 9:03 am

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Regency Centers Announces Mellody Farm, a New Mixed-Use Development in the Greater Chicagoland Area | Business Wire

CHICAGO–()–Regency Centers Corporation (“Regency” or the “Company”), a national

owner, operator, and developer of grocery-anchored shopping centers, has

announced a new ground-up development in Vernon Hills, IL. Mellody Farm

will consist of nearly 270,000 square feet of exceptional retail,

anchored by Whole Foods Market, Nordstrom Rack, REI and other local and

regional restaurants and merchants. The project will also include 260

luxury apartments, which will be developed and owned by Focus

Development and Atlantic Realty Partners. Construction of the

development has begun, with an estimated grand opening in late 2018.

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“Mellody Farm is going to be a transformational retail experience for

the surrounding area,” said Matt Hendy, Vice President and Market

Officer for Regency Centers. “We will be creating a true sense of place

here – a destination that attracts people because of our best in class

restaurant and retail partners, walkable center layout, and innovative

building design. The significant roadway upgrades to decongest the

Milwaukee Ave and Townline Road intersection will benefit anyone

traveling through this important corridor. Needless to say, we are

thrilled to be moving this project forward.”

Strategically located at one of the highest-trafficked intersections in

Lake County, IL, Mellody Farm will be a powerful retail destination for

the affluent and educated local residential markets, including 11

Fortune 500 global headquarters located within a short drive.

For leasing inquiries, please contact Adam Foret at 630 645-2820.

Construction of Mellody Farm is being done through Graycor Construction

Company, Inc.

About Regency Centers Corporation (NYSE:REG)

Regency is the preeminent national owner, operator and developer of

neighborhood and community shopping centers. The Company’s portfolio of

429 retail properties encompasses more than 57 million square feet, is

primarily anchored by productive grocers and is located in affluent and

infill trade areas in the country’s most attractive metro areas. Regency

has developed 225 shopping centers since 2000, representing an

investment at completion of more than $3.5 billion. Operating as a fully

integrated real estate company, Regency is a qualified real estate

investment trust that is self-administered and self-managed, and a

member of the S&P 500 index.

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Home Improvement And The Real Estate Investor

Investing in real estate can be a very lucrative investment if it is done properly. Whether you are investing in a brand new home or an old fixer upper, all houses will gain value if you spend the necessary time and money making sure that the property is maintained. Some people may feel that improving the home is not required since they are only going to sell it anyway, but that line of thought will cost you money in the end. Your investment will gain tremendous value if you are willing to repair and remodel whatever is needed before you sell the investment property.

Some real estate investments may only need a little spring cleaning and a few minor repairs, while other investments may need to be completely redone. Properties that need more work usually cost less to purchase because of the amount and the extent of the work needed. Even properties that need a lot of repairs and renovations can be terrific investments, because their value increases significantly more than the cost of the repairs and home improvements.

Most real estate investors do not realize the importance of making home improvements. Even simple things like painting the walls or weeding the lawn and putting down a good grass seed can raise the value of your investment. You can ask for and get a much higher price for real estate if everything is in great condition. Even houses that are in good repair should be thoroughly cleaned from the top to bottom, including gutters and eaves troughs. When you are considering a property to invest in, it is a good idea to do a very detailed inspection to evaluate all repairs that need to be addressed, whether they are minor or major.

It is important that you keep all receipts for any labor and materials you purchase to repair and improve your real estate investment. When you get ready to sell your investment you will have a record of all the money you have invested in home improvement for the real estate. This will allow you to show an increased value of the home due to the home improvement. It will also enable you to sell your real estate investment faster for a larger price. In a buyer’s market, the repairs and maintenance of your property may be one of the biggest sellers. No one wants to buy a home to live in and then have to take the time and money to do a lot of maintenance or repairs.

Home improvement is very important to real estate, whether you are just trying to flip a house to make a profit or you have rental property with tenants. By improving the property you will greatly improve the profit you will make from your real estate investment. A lot of real estate investors do not think about home improvement, and it costs them in the form of lower sales prices and lower monthly rents.

Copyright © 2007 Joel Teo. All rights reserved. (You may publish this article in its entirety with the following author’s information with live links only.)

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