ST. CATHARINES, Ontario–(BUSINESS WIRE)–$ALC–Algoma Central Corporation (TSX: ALC) announced today that it has sold Station Mall, a large regional shopping complex located in Sault Ste. Marie, Ontario. The transaction closed on June 30, 2022.

Station Mall, a 555,000 square foot enclosed shopping centre located steps away from the St. Mary’s River, was the last of the Company’s real estate holdings in Sault Ste. Marie. The Company’s intention to divest of its commercial real estate portfolio was initially announced in 2015. Since then, the Company has sold 15 properties in Sault Ste. Marie, Waterloo, and St. Catharines Ontario since 2015, directing proceeds from the sales to the renewal of the domestic dry-bulk fleet, expansion of its ocean self-unloader fleet, and to new investments in international shipping.

About Algoma Central Corporation

Algoma owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes – St. Lawrence Waterway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. Since 2010, we have introduced 10 new build vessels to our domestic dry-bulk fleet, with one under construction and expected to arrive in 2024, making us the youngest, most efficient and environmentally sustainable fleet on the Great Lakes. Each new vessel reduces carbon emissions on average by 40% versus the ship replaced. Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets and a 50% interest in NovaAlgoma, which owns and operates a diversified portfolio of dry-bulk fleets serving customers internationally. Algoma truly is Your Marine Carrier of Choice™. For more information about Algoma, visit the Company’s website at www.algonet.com

Contacts

Peter Winkley, CPA, CA
Chief Financial Officer

Algoma Central Corporation

905-687-7897

Christopher Lazarz, CPA, CA
Vice-President, Corporate Finance

Algoma Central Corporation

905-687-7940

SAN CLEMENTE, Calif.–(BUSINESS WIRE)–CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has extended a $75 million “C” piece financing as part of a larger multi-tranche senior secured term loan and has extended a $25 million mezzanine loan to a private equity skilled nursing real estate owner in connection with the acquisition of an 18-property portfolio in the Mid-Atlantic. The portfolio includes approximately 2,000 skilled nursing beds.

The “C” tranche of the senior secured term loan carries a five-year maturity and an annual interest rate of approximately 8.4%. The mezzanine loan bears interest at 11% and has a ten-year term.

Dave Sedgwick, CareTrust Chief Executive Officer, described the deal as “executing on our operator-first, relationship-based investing” approach. He said, “We were honored that the buyer looked to us to help them acquire a premier portfolio and put it in the hands of one of the top operators in the country.” In speaking further about CareTrust’s lending strategy, Mr. Sedgwick explained, “For us, lending is an important tool we use primarily to strengthen relationships with top operators with an eye towards future equity investments.”

The loan was funded with proceeds from CareTrust’s $600 million unsecured revolving credit facility.

CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States. More information about CareTrust REIT is available at www.caretrustreit.com.

Contacts

CareTrust REIT, Inc.

(949) 542-3130

ir@caretrustreit.com

OneReal.com Delivers Search Functionality for Home Buyers and Sellers

TORONTO & NEW YORK–(BUSINESS WIRE)–The Real Brokerage Inc. (“Real” or the “Company”) (NASDAQ: REAX) (TSXV: REAX), an international, technology-powered real estate brokerage, today announced the launch of its new website, OneReal.com, an interactive real estate listings portal aimed at consumers.

The site features in-depth search functionality that allows users to find properties to buy, sell or rent based on the following criteria: location, price, home type, number of bedrooms, number of bathrooms and amenities. The site also enables users to search for agents by name or location.

“This is an exciting move for Real as we move toward speaking directly to consumers,” said Real Chairman and CEO Tamir Poleg. “We have long been the best brokerage for agents—offering industry-leading splits, a fully integrated platform and a collaborative culture—but OneReal.com is our initial step in bringing Real to the consumer-facing real estate space.”

By capturing the information of consumers looking for a partner in the real estate journey, OneReal.com provides an added lead generation resource for its agents looking to grow their businesses. The company’s existing website, JoinReal.com, has been revamped to speak directly to agent attraction and provides significant information about Real as a brokerage and how agents can benefit.

The investor section of the site, investors.onereal.com, has also migrated to OneReal.com. This section provides key information and reports that investors and potential investors will be interested in.

About Real

The Real Brokerage Inc. (NASDAQ: REAX) (TSXV: REAX) is revolutionizing the residential real estate industry by pairing best-in-class technology with the trusted guidance of the agent-led experience. Real delivers a cloud-based platform to improve efficiencies and empower agents to provide a seamless end-to-end experience for homebuyers and sellers. The company was founded in 2014 and serves 44 states, D.C., and two Canadian provinces with over 5,000 agents. Additional information can be found on its website at onereal.com.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, information relating to Twenty Four Seven Realty joining Real, and the business and strategic plans of Real.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to Real’s business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the NASDAQ has neither approved nor disapproved the contents of this press release.

Contacts

For additional information, please contact:

The Real Brokerage Inc.

Elisabeth Warrick

elisabeth@therealbrokerage.com

Investors, for more information, please contact:

Jason Lee

Vice President, Capital Markets & Investor Relations

investors@therealbrokerage.com
908-280-2515

TORONTO & MONTREAL–(BUSINESS WIRE)–Lafarge Canada is proud to announce today the acquisition of the Mathers’ St-Eustache Quarry (Carrière St-Eustache Ltée) and Asphalt (Pavage St-Eustache Ltée) operations (QC). The investment will further complement Lafarge Aggregates’ network and reinforce the company’s leading position as a sustainable and innovative building solutions provider in the Montreal (East and South Shore) and Lower Laurentians (Quebec) region. The deal reiterates the company’s Strategy 2025 to expand its Aggregates business through critical acquisitions of pits, quarries, docks, and depots in strategic high growth markets.

“Today is a historical day at Lafarge Canada. This is the largest aggregates acquisition in Eastern Canada for Lafarge in over a decade and represents an opportunity to integrate an established business, with strong community roots and a history of responsible operation, into our Lafarge Aggregates family,” commented David Redfern, President & CEO, Lafarge Canada (East). “Quebec is a dynamic and exciting market with high growth projections supported by current and future necessary infrastructure developments. This is only the beginning – we are thrilled and looking forward to advancing our sustainable growth strategy founded on our principles of environmental stewardship and operational excellence.”

“At Holcim, we are dedicated to constantly growing and evolving our business. Welcoming the Mathers’ St-Eustache Quarry and Asphalt operations with over 60 years experience and more than 80 employees to Lafarge Canada is a privilege.” said Toufic Tabbara, Region Head, Holcim North America. “This bolt-on acquisition adds the largest crushed stone quarry in Quebec and expands our industry-leading position in the circular economy with recycled concrete and recycled asphalt production. This new structure will provide our customers with a comprehensive aggregates and now asphalt solutions portfolio in the Montreal region – suitable for all construction projects.”

“We are very proud of what we have built throughout the years with Mathers’ St-Eustache Quarry and Asphalt operations. It has been a very rewarding experience for my family to be able to see the businesses grow,” commented Brigitte Mathers, Mathers Group, President and Member of the Board of Directors. “Today, we are excited to be part of St-Eustache Quarry and Asphalt operations’ next chapter. The future certainly looks promising.”

Quick facts

• Lafarge Canada is acquiring the assets of the Mathers’ St-Eustache Quarry (Carrière St-Eustache Ltée) and Asphalt (Pavage St-Eustache Ltée) operations (QC).
• The deal reiterates the company’s Strategy 2025 to expand the business through critical acquisitions of pits, quarries, docks, and depots in strategic high growth markets.
• It is the largest aggregates acquisition in Eastern Canada for Lafarge in over a decade.
• Lafarge is welcoming more than 80 new employees to their structure.
• For over 60 years, the Mathers St-Eustache Quarry has been the largest crushed stone quarry producer in Quebec.
• This bolt-on acquisition expands Lafarge Canada’s industry-leading position in the circular economy with recycled concrete and recycled asphalt production.

Associated links

• https://carriere.mathers.ca/
• https://www.lafarge.ca/en
• https://www.holcim.com/

About Lafarge Canada Inc.

Lafarge is Canada’s largest provider of sustainable construction materials and a member of the global group, Holcim. With 6,000 employees and 350 sites across Canada, our mission is to provide construction solutions and products that build progress for people and the planet. The cities where Canadians live, work, and raise their families along with communities’ infrastructure benefit from the sustainable portfolio provided by Lafarge, consisting of Aggregates, Asphalt and Paving, Cement, Precast Concrete, Ready-Mix Concrete, and Road Construction.

About Holcim

Holcim builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Holcim is enabling greener cities, smarter infrastructure and improving living standards around the world. With sustainability at the core of its strategy Holcim is becoming a net zero company, with its people and communities at the heart of its success. The company is driving circular construction as a world leader in recycling to build more with less. Holcim is the company behind some of the world’s most trusted brands in the building sector including ACC, Aggregate Industries, Ambuja Cement, Disensa, Geocycle, Holcim, Lafarge and Malarkey Roofing Products. Holcim is 70,000 people around the world who are passionate about building progress for people and the planet through four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products.

Learn more about Holcim on www.holcim.com, and by following us on LinkedIn and Twitter

About Mathers Group Inc.

Mathers Group Inc. is a family-owned company with a variety of business holdings located in the Montreal, Quebec Area. Mathers’ St-Eustache Quarry (Carrière St-Eustache Ltée) and Asphalt (Pavage St-Eustache Ltée) have been servicing the local market with crushed stone and asphalt products for over 50 years. The commitment to producing quality materials has made Mathers one of the largest producers of construction materials in Quebec.

Contacts

For media inquiries:
Anna Salomao

anna.salomao@lafargeholcim.com

BURNABY, British Columbia–(BUSINESS WIRE)–Ascent Real Estate Management Corporation (Ascent) a Burnaby, British Columbia property management company, announced today that they have acquired the portfolio of Sutton Select Property Management & Realty (SSPM&R).

“Ascent is thrilled to have been given the opportunity to provide experienced, professional management to the owners of these strata corporations and rental investment properties. We look forward to continuing to provide our new clients with the first-class service they received under Sutton Select Property Management & Realty. We are also proud to announce that Boon Sim, owner/managing broker of SSPM&R will be joining Ascent as our new General Manager. ” stated Michael Roach, Owner/President, Ascent.

“I am very much looking forward to be joining Ascent with my team. Ascent has assembled a multi-faceted team that includes experienced, knowledgeable strata and rental agents, detail-oriented administrators, and CPA-led accountants. I am confident that my clients will greatly benefit from Ascent’s stability, reliability, integrity and superior financial management. Ascent also offers Ascent Avenue, the most comprehensive online service available in the industry” added Boon Sim.

Established in 1979, Ascent is a locally owned, independent full service property management company, providing strata, rental and co-op management throughout Metro Vancouver. We deliver all the conveniences you would expect from a large national or global brand with the personalized service of a locally-owned boutique agency. Our size, systems and technology allow us to provide our clients with economies of scale not available to our smaller competitors, while not being constrained by large corporate ownership. Ascent’s experienced staff provide property owners with the expert guidance and comprehensive management services they need to protect, maintain and enhance the value of their real estate assets.

To learn more, visit Ascent at www.ascentpm.com.

Contacts

Michael Roach

mroach@ascentpm.com
604.431.1800

Company has sold more than $150 million worth of homes in Ottawa, Toronto and Sudbury following $34 million seed funding round

OTTAWA, Ontario–(BUSINESS WIRE)–PropTech innovator Unreserved today announced that it has entered the residential real estate market in Windsor, Ontario. Unreserved addresses consumers’ biggest pain points when buying and selling a home by leveraging their proprietary technology that provides 100% transparency to buyers while maximizing the upside for sellers. Investors in the $34M seed round earlier this year – the largest in Canadian history – included CEO Ryan O’Connor, Chairman of the Board and former CEO of Royal Lepage Simon Dean, technology investor Jason Chapnik of Intercap, and numerous real estate professionals.

“Windsor is a key market for us as we expand our presence in Ontario and throughout Canada,” O’Connor says. “Local home buyers and sellers have been hurt by a lack of transparency in the residential real estate market because so many aspects of pricing and transactions are kept hidden from them. Our approach is about openness through technology that empowers everyone to have full information to make informed decisions. This is the future of the real estate industry, and we are proud to bring it to Windsor.”

The process starts with a seller requesting a home appraisal and a team of Unreserved listing experts working with them to confirm their target price and closing dates. As a full-service real-estate company, Unreserved offers construction, staging, marketing, and promotion to help attract qualified buyers with specialized photos and video walkthroughs of a given listing. Open houses and private showings are coordinated with verified buyers to ramp up interest. Home inspection reports and market comparables are provided publicly on the listing page, and, most importantly, everyone can watch a transparent bidding process unfold right in front of them. Unreserved is also offering an industry-first, 12-month warranty on homes sold on its platform.

About Unreserved

The Unreserved technology platform is paving the way for a transparent way to buy and sell homes allowing buyers to bid on homes in a real-time online auction environment, removing blind-bidding and bully offers from the equation. In addition, Unreserved is a full-service auction company, offering staging, marketing, and promotion to attract qualified buyers and interested sellers.

Contacts

For Unreserved Media & PR Inquiries, please contact:
Richard Berman

richard@verbfactory.com
1 (647) 294-8372

TORONTO–(BUSINESS WIRE)–#valueforgenerations–Choice Properties Real Estate Investment Trust (“Choice Properties” or the “Trust”) (TSX: CHP.UN) announced today that it will be reporting second quarter 2022 results on Thursday, July 21, 2022 after-market hours.

Management will host a conference call the next day on Friday, July 22, 2022 at 9:00 AM (ET) with a simultaneous audio webcast. To access via teleconference please dial (240) 789-2714 or (888) 330-2454 and enter the event passcode: 4788974. The link to the audio webcast will be available on www.choicereit.ca/events-webcasts.

About Choice Properties Real Estate Investment Trust

Choice Properties is a leading Real Estate Investment Trust that creates enduring value through the ownership, operation and development of high-quality commercial and residential properties.

We believe that value comes from creating spaces that improve how our tenants and communities come together to live, work, and connect. We strive to understand the needs of our tenants and manage our properties to the highest standard. We aspire to develop healthy, resilient communities through our dedication to social, economic, and environmental sustainability. In everything we do, we are guided by a shared set of values grounded in Care, Ownership, Respect and Excellence.

For more information, visit Choice Properties’ website at www.choicereit.ca and Choice Properties’ issuer profile at www.sedar.com.

Contacts

Angelica Muere

Senior Manager, Marketing and Communications

T 416 628-7794

E Angelica.Muere@choicereit.ca

Scottsdale-based Walton Global acquires the historic Smoke Tree Resort Property

PARADISE VALLEY, Ariz.–(BUSINESS WIRE)–Walton Global, a real estate investment and land asset management company with US$3.6 billion under management, is pleased to announce its acquisition of the Smoke Tree Resort property located west of Scottsdale Road on Lincoln Drive in the Town of Paradise Valley, Arizona.

The deal closed on June 29, 2022, with ST Holdings, a subsidiary of Scottsdale-based Walton Global Holding, LLC. Walton acquired the 5-acre property for $14 million with plans to build a new boutique hotel that will serve locals and support Arizona tourism.

Walton intends to incorporate an elegance in the new design that Paradise Valley is known for and avoid controversial elements that have challenged Smoke Tree and other hotel redevelopments in the past such as roof top bars, condominiums, for-sale units, height, density and other concerns that have hampered revitalization efforts in the past.

The distinctive and strategically positioned property was subject to bankruptcy and now has fresh opportunities and a renewed sense of optimism.

“As a Paradise Valley resident for 15 years, I have driven past the Smoke Tree Resort often wondering why it sat dormant for so many years. When Walton was introduced to the opportunity to acquire the resort and learned about its financial challenges, we acted quickly, conducted our diligence and secured the property. I’m excited about our goal to revive this historic landmark into a place that Paradise Valley residents and Phoenix as a whole can point to again as a prime destination to experience that also meets the high standards of the community’s ethic,” said Walton Global executive vice president of Business Development, Matt Keister.

The Smoke Tree Resort was originally built in 1954. The resort’s Lincoln Drive facing restaurant – The Other Place – was also a Paradise Valley landmark but attempts to reopen under new management ultimately failed and the restaurant has been shuttered for over a decade.

Walton is already surrounding itself with “best in class” professionals including Allen & Philp, an architectural firm based in Scottsdale with an exceptional hotel portfolio that includes The Sanctuary, The Boulders, Fairmont Princess, and several other award-winning hotel properties.

“I believe Walton’s vision will be consistent with Paradise Valley’s wishes and sensitivities and our capital is patient. It is extremely important to us to listen to the Town of Paradise Valley Council and the community before we finalize our designs. We are looking forward to achieving a consensus that will result in an extraordinary gathering place for the residents of Paradise Valley that will also produce economic benefits for the Town and Arizona,” said Walton Global CEO Bill Doherty.

Walton intends to reach out to Paradise Valley residents to solicit input before hotel design plans are finalized.

“Feedback we receive from surrounding residents will be integrated into the future vision of the new hotel. And to ensure that transparency and communication remains open throughout the project’s evolution, we will be creating platforms such as a website and social media sites to post routine updates. We want our Town to embrace the project and to be proud of what we feel is the gateway to Paradise Valley,” Keister said.

About Walton Global

Walton Global is a privately-owned, leading land asset management and global real estate investment company that concentrates on the research, acquisition, administration, planning, and development of land. With more than 43 years of experience, Walton has a proven track record of administering land investment projects within the fastest growing metropolitan areas in North America. The company manages and administers US$3.6 billion in assets on behalf of its global investors located in 73 countries, builders and developers and industry partners. Walton has more than 97,000 acres of land under ownership, management and administration in the United States and Canada with business lines ranging from exit-focused pre-development land investments, builder land financing and build-to-rent. For more information visit walton.com.

Contacts

Mike Scerbo

Rose+Allyn Public & Online Relations

Office: 480.423.1414

Mobile: 602.615.6523

mscerbo@roseallynpr.com

TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or the “Trust”) (TSX: PMZ.UN) will be releasing its financial results for the quarter ended June 30, 2022, on Wednesday, August 3, 2022, after the market closes. Senior leadership will be hosting a conference call, webcast and presentation on August 4, 2022.

Conference Call:
Date:	Thursday August 4, 2022, at 10:00 a.m. (ET)
Dial:	For Canada please dial: 1-833-950-0062
	For International please dial: 1-929-526-1599
Passcode:	700941
Webcast:
Link: Please go to the Investor Relations section on Primaris’ website or click here.

The call will be accessible for replay until August 18, 2022, by dialing 1-226-828-7578 with access code 513208, or on the Investor Relations section of the website.

About Primaris REIT

Primaris REIT is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in dominant enclosed shopping centres in growing markets. The portfolio totals 11.3 million square feet and is valued at approximately $3.3 billion at Primaris’ share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris REIT is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.

Category: Corporate

Contacts

For more information:
Alex Avery

Chief Executive Officer

416-642-7837

aavery@primarisreit.com

Rags Davloor

Chief Financial Officer

416-645-3716

rdavloor@primarisreit.com

TSX: PMZ.UN

www.primarisreit.com
www.sedar.com

The Company’s Deepened Commitment To The Canadian Marketplace Is Bolstered By New Strategic Sales Director Stephanie Gaty—Former CoStar And Altus Executive

TORONTO–(BUSINESS WIRE)–Dealpath—the industry’s most trusted, purpose-built real estate platform, empowering hundreds of top institutions from Blackstone, Nuveen, AEW, Oxford Properties, Principal Real Estate, Metlife to Bridge Investment Group to invest in the built world—today announced the notable opening of its new office in Toronto, Canada. The location will empower the firm to expand its Canadian client base, tap into Toronto’s hub of skilled talent from surrounding top universities and provide access to core institutional capital invested in real assets as it continues rapid, strategic growth.

In tandem with expanding its existing office portfolio, Dealpath is also bolstering its executive suite with the addition of Canadian real estate veteran, Stephanie Gaty as Strategic Account Director. Gaty joined Dealpath in May 2022 after nearly three years as an integral Senior Sales Executive at CoStar Group. Prior to CoStar, Gaty held essential roles at Altus Group and AP Capital Management. Gaty earned a Bachelor of Science at McGill University, in addition to a Master of Finance / Investment within Real Estate at NYU.

“This is a critical milestone for Dealpath, as we’ve long been laser focused on deepening our roots within the Canadian community,” shared Mike Sroka, CEO and Co-Founder, Dealpath. “This will allow us to not only be closer to our valued real estate customer base, but also attract Toronto’s unmatched tech talent. As we continue tracking towards rapid, meaningful market expansion, Stephanie is an invaluable asset.”

Dealpath currently boasts an impressive roster of leading Canadian players including Oxford Properties Group, First Capital Realty, Fiera Properties, Manulife Investment Management, HOOPP, CentreCourt Developments, Hopewell Development, Crestpoint Real Estate Investments, Le Groupe Maurice & more.

“With deep roots at the crossroads of commercial real estate and technology, I’ve always been drawn to Dealpath’s core product suite and strategic vision for the future of deal management,” stated Gaty. “As the company continues to strengthen its position as a clear leader in property innovation, I’m thrilled to support their next stage of growth, adding to their targeted client-focused, innovation driven approach.”

Dealpath’s existing team features many Canadians, operating across multiple offices to support global growth. The firm’s actively hiring for the office, located at 240 Richmond St West. It opened June 1, 2022.

In addition to its brand new Toronto office, Dealpath has headquarters in both New York City and San Francisco. To date – Dealpath has supported an impressive more than $10 trillion in transactions globally.

Catch up with Dealpath in-person at the Toronto Real Estate Forum November 30-December 1, 2022.

About Dealpath — Dealpath is the industry’s most trusted cloud-based real estate investment management platform, providing real-time access to vetted, secure, up-to-date investment data to empower collaboration, strategic, and predictive decisions. Investment and development firms leverage Dealpath as their command center for smart pipeline tracking, powerful deal analytics & collaborative workflows–driving maximum performance from pipeline to portfolio management. Founded in 2014, Dealpath has supported over $10 trillion in transactions with leading institutions across the world. For more information — visit our website at dealpath.com and follow us on LinkedIn.

Contacts

Media:
Elise Szwajkowski

Marino; Vice President

eszwajkowski@marinopr.com
(212) 402-3495

The housing market has missed the technology wave of the past few decades. But tight supply/demand and affordability concerns following the pandemic are leading to increasing PropTech solutions that drive efficiency throughout the real estate transaction.

NEW YORK–(BUSINESS WIRE)–Citi today released a new Citi Global Perspectives & Solutions (Citi GPS) report in its Home of the Future series that takes another look at the housing market. Home of the Future: PropTech – Towards a Frictionless Housing Market? covers the emergence of PropTech, or fintech for real estate, in the U.S. housing market.

Home listings went online back in the mid-2000s with the launch of Zillow and that information was opened up to the broader public versus being walled off through protected subscriptions for realtors only. However, other parts of buying a house, such as getting a mortgage or title insurance – is ripe for disruption still.

“The process of buying a house is pretty painful with the large amount of paperwork. And while some frictions in the buying process are healthy, there is a big opportunity to streamline things,” noted Roger Ashworth, Head of U.S. Non-Agency MBS Strategy. “That’s where PropTech comes in – to look for those efficiencies in the market.”

Tech advancements in housing finance operations (e.g., mortgage origination, title insurance) are opening up ways to reduce paperwork and drive efficiency. Meanwhile, blockchain technologies could introduce further innovation, such as through smart contracts and the tokenization of real estate assets.

Other important notes the report covers on the move towards a frictionless housing market are:

• Innovation is happening in terms of business models as well, with the rise of home equity investment contracts, iBuyers (a company that uses technology to make an offer on your home instantly) and institutional single-family rentals (SFRs).

• Home equity investment contracts could deliver double-digit returns for co-investors of a property, while at the same time helping consumers tap some of the record-high equity in the housing market.

• iBuyers purchase homes for resale and offer a variety of services to home sellers from offer pricing to renovating.

• Institutional single-family rentals (SFRs) make up three percent of the SFR market and are poised for growth.

The report serves as a resource for others based on how Citi sees opportunities for advancement in the housing market with the support of tech advancements and investments.

About Citi:

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.

Contacts

Media:
Susannah Gullette – Citi Research

susannah.gullette@citi.com

With Avetta One implementation, QuadReal gains greater supply chain visibility, deepens vendor relationships and improves insurance compliance

OREM, Utah & HOUSTON–(BUSINESS WIRE)–#riskmanagement—Avetta®, the leading provider of supply chain risk management (SCRM) software, has partnered with QuadReal Property Group to enhance the company’s Code of Conduct & Ethics data collection through the Avetta One™ platform. This partnership has offered QuadReal a new tool for relationship building and greater visibility into its supply chain operations, allowing for automated data collection and increased risk management.

The Avetta One™ Platform is a single-source solution for managing operational, reputational and regulatory compliance risks. The platform reduces safety, liability, sustainability, workforce, cybersecurity and financial risks for corporations, suppliers, contractors and their workers.

Avetta One delivers an unprecedented view of risks through multi-risk analytics, supplier risk trends and supplier performance benchmarking. The platform uses almost two decades of data from millions of collected data points to provide real-time views on risks and delivers alerts on deviations from baseline measures. The analytics software includes customizable, interactive dashboards to gain insights that help build supply chain confidence.

With Avetta One prequalification, clients like QuadReal are assured contractors meet all compliance and regulatory requirements, including documentation of contractors’ skills and credentials. Avetta One provides additional insights into contractors’ safety data, insurance status and service offerings. For insurance, Avetta One provides a full-scale view of the various insurance types suppliers use, as well as their levels of coverage. Insurance coverage is automatically verified every year.

“When vendors achieve compliance with our requirements through the Avetta platform, we are confident in the quality and completeness of the information they share with us,” said Nada Sutic, vice president, programs & policy at QuadReal. “The Avetta One platform has automated a previously manual, time-consuming process, allowing my team to efficiently ensure we have all the necessary information prior to doing business.”

Avetta One provides clients with a quick and comprehensive look into the potential vendor community, a feature which has empowered QuadReal to make timely, educated decisions for onboarding new contractors. With the benefit of this tool, the QuadReal team will continue to build deeper, mutually beneficial relationships with the vendor community.

“Avetta has been a very solid and attentive partner to QuadReal,” Sutic said. “While building out our implementation process, we worked very closely to configure it to meet our specific needs. When we had situations where things turned out differently than expected, the Avetta team quickly addressed the situation. They were always ready to collaborate and find the best solution to move forward—for us and for our suppliers.”

For more information about the QuadReal/Avetta One Implementation, please visit here.

About QuadReal Property Group

QuadReal Property Group is a global real estate investment, operating and development company headquartered in Vancouver, British Columbia. Its assets under management total $67.1 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets. QuadReal invests directly, via programmatic partnerships and through operating companies in which it holds an ownership interest. QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come.

QuadReal: Excellence lives here.

www.quadreal.com

For more information about the QuadReal/Avetta One Implementation, please visit here.

About Avetta

The Avetta SaaS platform helps clients manage supply chain risk and their suppliers to become more qualified for jobs. For hiring clients in our network, we offer the world’s largest supply chain risk management network to manage supplier safety, sustainability, worker competency and performance. We perform contractor prequalification and worker competency management across major industries, all over the globe, including construction, energy, facilities, high tech, manufacturing, mining and telecom.

For suppliers in our network, our audit and verification services help lower their safety incidents rate by 29%. As a result, nearly 50% of members find additional job opportunities within the first year of joining. In addition, our suppliers receive privileged access to the Avetta Marketplace, where dozens of partners offer special discounts for business services like insurance and work gear. Avetta serves 500+ enterprise companies and 125,000+ suppliers across 120+ countries.

Visit https://www.avetta.com/ for more information.

Contacts

SnappConner PR

Mark Fredrickson, +1 801-806-0161

mark@snappconner.com

Avetta

Kendra Lamer

kendra.lamer@avetta.com