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New LGBTQ real estate group expands

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A year after it was founded in the United States, a new association for LGBTQ real estate professionals is expanding into Canada and trying to jump across the pond with chapters in Europe. It invites its 1,300 members to its first conference in Las Vegas this September.

The LGBTQ + Real Estate Alliance was officially formed last June and opened its membership, which costs $ 200 annually, in October. There are now up to 55 chapters in America, from Hawaii to Puerto Rico, and recently welcomed chapters in Ottawa and Montreal.

Founded as a non-profit organization in accordance with 501 (c) (6), the organization can advocate for various topics and take a stand on political struggles. It aims to push for “housing and protection for all”, regardless of whether someone is LGBTQ or straight.

“We want to be inclusive,” said John Thorpe, 52, a gay man who is Allianz’s founding president and chief executive officer. “From homeless LGBTQ + youth to aging members of the LGBTQ community, housing problems exist in every age group and population group. We really want to draw attention to it and focus on it. “

A primary goal of the alliance, Thorpe said, is to support LGBTQ people who want to become homeowners. It recently hosted a national virtual seminar to explain the process for first-time home buyers in the LGBTQ community and created a guide for people to follow. The alliance also encourages its individual chapters to hold such sessions for their local communities.

“LGBTQ people don’t necessarily have someone in their corner to help them buy a house,” said Josh Pringle, 42, a gay resident of Palm Springs, the vice president of Better Homes and Gardens Real Estate Desert Lifestyle Properties, and attended the online seminar of the alliance. “If you are gay and your family is not talking to you or your family is denying you, then you are making this important decision on your own. There is no one to contact when buying a home.”

Ironically, Pringle has no plans to become a homeowner himself and is happy to be renters in the city, which has long drawn in LGBTQ tourists, retirees, and increasingly younger members of the LGBTQ community and those who can work remotely. The median price of a single family home in the Palm Springs area is now $ 900,000, while condominiums sell around $ 500,000.

The housing stock for sale is extremely low, noted Pringle, whose company employs 106 people in three offices and also has businesses focused on trust, commercial real estate and vacation rentals. He joined the alliance last month and likes the way it encourages its members to work closely with homebuyers, whether it be to answer their questions about the process or to hold people’s hands when they’re afraid to make an offer .

“We’re putting you on the yellow brick street of buying a home,” said Pringle, who previously lived in San Francisco and worked in the fashion industry before moving to Coachella Valley and entering the real estate profession a decade ago.

According to the National Association of Realtors, published in June, LGBTQ buyers have bought older and smaller homes than non-LGBTQ buyers and expect to live five years less than non-LGBTQ buyers in their new homes. They were more likely to be single men and unmarried couples than non-LGBTQ people and were more likely to identify as male than female.

Bisexual buyers and sellers were more likely than other groups to be younger than other groups, to be first-time buyers or home sellers, and to report lower incomes. The report found that the average selling price for homes bought by LGBTQ shoppers was $ 245,000 compared to $ 268,000 for non-LGBTQ shoppers, and it was more in urban areas than in small towns or cities countryside regions.

Married couples made up 39% of LGBTQ buyers and sellers, while 21% of transactions were made by an unmarried couple, 22% by a single man, and 15% by a single woman. The median age (42) and annual income ($ 93,200) of LGBTQ buyers and sellers were slightly lower than those of non-LGBTQ buyers and sellers ($ 46 and $ 97,000, respectively).

Forty-two percent of LGBTQ buyers were first-time home buyers, compared with just 32% of non-LGBTQ buyers. The report uses aggregated data from the responses of people who indicated their sexual orientation to the 2015-2020 NAR Home Buyer Profile Survey, a total of 41,950 responses. A little more than 4% of all respondents in the survey – a total of 1,574 people – identified themselves as LGBTQ.

“Real estate is one of the biggest investments most Americans will make,” said Thorpe. “It is important in creating their wealth.”

The national home ownership rate is around 66%, but LGBTQ Americans are around 49%, Thorpe noted.

“It doesn’t make sense because America’s LGBTQ economy is bigger than Australia, South Korea, and Canada combined, so there’s an anomaly there,” Thorpe said. “Some of these are due to the fact that many LGBTQ Americans live in metropolitan areas where affordability is an issue. The other is the education about the house buying process. “

Thorpe, a licensed real estate agent in Florida where he lives part-time with his husband at Wilton Manors, was the regional vice president of Better Homes and Gardens for 17 years. He recently became Vice President of International Business Development at Von Poll Immobilien / Real Estate and is based in Frankfurt, Germany, although he spends time in Torremolinos, Spain, where the couple also own a home.

“It’s southern Florida in Europe,” said Thorpe, as it attracts many LGBTQ retirees.

Thanks to virtual teleconferencing platforms like Zoom, as the Bay Area reporter reached him on Tuesday, he was able to continue working with the alliance. At some point, the organization wants to form overseas chapters, he said, as it has received inquiries from interested people in the UK, Spain, France and Germany.

But before it can do that, it needs to build up its referral platform, part of the benefits for the alliance members. It’s based on zip codes and the alliance just recently updated their recommendation system to include Canada, Thorpe explained.

“It has to be searchable,” he said, adding from Europe, “the interest is there”.

Some of the alliance’s founders were part of the National Association of Gay and Lesbian Real Estate Professionals, which was founded in 2007 and has more than 2,800 members, according to its website. It also provides a referral service for prospective homebuyers, whether LGBTQ or straight, and advocates for fairer LGBTQ housing laws at the local, state, and federal levels.

Thorpe told the BAR that they had decided to form the alliance in order to have a more transparent association and attract real estate professionals who had not joined a diversity group in the past. About 75% of the alliance members, he said, have never been involved in an LGBTQ real estate organization before, while 10% are direct allies.

“It matters to so many people,” said Thorpe. “As Hillary Clinton said, ‘It takes a village.’ We have grown tremendously and have done very well. ”

Allianz is holding its first convention at Resorts World, the newest hotel to open in Las Vegas September 22-24. The NAR recently came on board as one of their top sponsors.

It has also signed agreements with the National Association of Hispanic Real Estate Professionals and the Asian Real Estate Association of America to work together and hold joint events between the various professional groups in the future.

“These are premieres. They have never been there before,” said Thorpe. “All of our thinking is to help all communities when we work together.”

To learn more about the alliance, visit their website.

Got a tip on LGBTQ business news? Call Matthew S. Bajko at (415) 829-8836 or email m.bajko@ebar.com

Help keep the Bay Area Reporter going through these troubled times. To support local, independent LGBTQ journalism, you should become a BAR member.

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Real estate industry groups spent millions to halt the national eviction moratorium • OpenSecrets

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(Photo by Kevin Dietsch / Getty Images)

Housing and real estate groups spent more than $ 100 million lobbying over the past year and a half while Congress and the White House worked to extend the COVID-19 eviction moratorium that these groups were hoping to stop.

President Joe Biden announced Tuesday that the Centers for Disease Control and Prevention would impose a 60-day eviction ban on counties with “significant and high” virus transmission. At the start of the coronavirus pandemic in 2020, the CDC put in place a nationwide moratorium to curb the spread of the virus by keeping tenants in their homes. The House of Representatives did not pass a law on Friday that would keep the moratorium in place across the country until October 18.

The 60-day ban came days after House Democrats, including MPs Cori Bush (D-Mo.), Ayanna Pressley (D-Mass.) And Ilhan Omar (D-Minn.), Put heavy pressure on Biden and the Congress had exercised to reinstate the moratorium. Bush, who has experienced homelessness, slept on the Capitol steps for five nights in protest at the lifting of the ban.

“Last night we stood on the Capitol steps in a moment of silence for all the people who are vacant and whose lives have been taken for political violence,” tweeted Bush on Sunday. “For everyone whose life is in danger until the eviction moratorium is extended. We have to save lives. “

But the moratorium has also been the subject of several lawsuits and lobbying since it was introduced by groups such as the National Association of Realtors and the National Apartment Association.

The real estate association, the largest real estate business in the country, spent over $ 84 million on lobbying last year, its highest figure ever and having spent over $ 18 million to date in 2021.

The group continued to oppose the eviction moratorium and pushed for more rent support funds because the moratorium is detrimental to housing providers or landlords who lose rent payments. She reported lobbying discussions with Congress, the Ministry of Housing and Urban Development and the National Economic Council, among others, regarding the moratorium.

The group was also involved in two lawsuits with the Alabama and Georgia Brokerage Association seeking to lift the eviction notice. The two groups filed lawsuits against the Trump administration last year, saying it was illegal for the CDC to enact the moratorium.

The lawsuit against the Alabama Realtors’ Association reached the Supreme Court, which ruled in June that the moratorium could remain in place but warned the Biden administration not to extend the ban beyond July.

The Housing Association, a landlord trading group, filed a similar lawsuit against the federal government shortly after the Supreme Court ruling. The association has campaigned heavily against the moratorium, spending over $ 1.4 million in 2020 and $ 670,000 so far this year. The group also campaigned for more tenant aid funds, claiming in a statement accompanying the lawsuit that homeowners “owe $ 26.6 billion.”

“Any extension of the eviction moratorium amounts to an unfunded government mandate that forces housing providers to provide an expensive service without compensation and places tenants with insurmountable debt,” said Bob Pinnegar, president and CEO of the NAA, in a statement Dec. July.

The Mortgage Bankers Association, an advocacy group for the real estate finance industry, also campaigned against the moratorium. The association spent over $ 2.4 million on lobbying efforts in 2020 and has already spent nearly $ 1.2 million this year.

Last year, the group also campaigned against the moratorium on coronavirus eviction law and spent much of 2021 campaigning for rental support. The organization said in a statement following the initial adjustment of the ban that the moratorium would trigger a “cascade reaction” that would only tighten the economy.

While lobby groups insist that the eviction ban is detrimental to the economy, Democrats and civil rights activists, including MP Alexandria Ocasio-Cortez (DN.Y.) and Senator Elizabeth Warren (D-Mass.), Praised Bush after the new ban was imposed had been put in place for their efforts outside the Capitol.

“I applaud the CDC for imposing an eviction moratorium on the vast majority of the population,” Senate majority leader Chuck Schumer (DN.Y.) said in a statement on Tuesday. “It is devastating for anyone who loses their home through no fault of their own, and it is shameful that the Republicans in Congress have not lifted a finger to prevent it.”

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Sera Global Continues Expansion of Real Estate Expertise with Hire of Six Industry Leaders

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NEW YORK, 4th August 2021 / PRNewswire / – Sera Global (“Sera”), a leading global independent real estate advisor, today announced the continued expansion of its real estate business with the hiring of five partners and an executive director. famous North America and Europe.

The new employees bring a wealth of experience to Sera’s growing real estate team. These professionals, who move into Private Capital Advisory (PCA) and Investment Banking, further underscore how Sera is building an integrated advisory platform to meet clients’ strategic priorities across their business or asset lifecycle.

“We are excited to welcome each of these talented individuals to our growing global team and are excited about the extensive real estate knowledge and experience they will bring to our client base,” said Leo van den Thillart, Managing Partner and Global Head of Sera. “These people are central to realizing our vision as a holistic strategic advisor as our clients continue to seek long-term partnerships with specialist real estate expertise in investment banking, private capital advisory and liquidity solutions.”

  • Bailey Puntereri, Partner joins Sera’s private capital advisory business new Yorkwhere he will be responsible for institutional investor and advisor coverage as well as advising property operators and managers on capital raising strategies, vehicle structuring and equity placement. He brings almost 20 years of experience in commercial real estate and most recently served as a Principal in the real estate sales team at PJT Park Hill, serving institutional investors along the East Coast and Southern United States.
  • James Park, Partner strengthens Sera’s investment banking team in new York from Evercore, where he served as a managing director in the real estate consultancy practice. Previously, he was also Managing Director at UBS in their Real Estate Lodging and Leisure (RELL) Group, both in London and Singapore. At Sera, he will be responsible for M&A, strategy and fundraising advice for public and private companies and sponsors.
  • Patricia Wilkinson, Partner will be responsible for the project management function for Real Assets for Sera Global’s Private Capital Advisory business and will also be responsible for advising general partners, operating companies and managers of Real Assets on capital formation and fund strategy, as well as overseeing the fundraising process and business development . She joins Sera from Threadmark, where she was responsible for project management and origination worldwide.
  • Alexandra Cromer, Partner becomes Co-Head of Project Management and Deal Management for Sera Global’s Private Capital Advisory business. Prior to joining Sera, Alexandra was with Atlantic-Pacific Capital for over 13 years, providing strategic advice and management services for primary fundraising, co-investments and direct transactions to a number of infrastructure and real estate clients.
  • Eoin Bastible, Partner comes from UBS Asset Management, where he has been Head of Business Development EMEA for Real Estate and Private Markets since 2014. Seat in London, he will be responsible for Funding, Origination and Business Development for Private Capital Advisory in EMEA.
  • Ian Currie, Executive Director becomes Executive Director in Sera’s Private Capital Advisory business, based in London. Ian was previously Executive Director at MEC Global Partners, Mitsubishi Estate’s investment platform.

“As our customers develop their business and growth strategies, these people will help drive our integrated approach to customer solutions and help us achieve their long-term goals,” said Maggie Coleman, Managing Partner, Real Estate Private Capital Advisory at Sera Global. “We look forward to expanding our portfolio of real estate advisors as we accelerate our delivery of solutions to global markets.”

These appointments follow the recent addition of Michael Yang and Kilian Toms Head of the Liquidity Solutions / Secondaries Practice of Sera and Maria Kang | and Stephane Marguier to drive the North American and European expansion of Sera’s infrastructure PCA business, both key pillars of Sera’s integrated approach to strategic advice.

About Sera Global

Sera Global is a leading global real estate advisor with over $ 100 billion in the previous transaction volume; Sera management has more than $ 300 billion of capital. The company offers integrated investment banking, private capital and strategic advisory services in the real estate, infrastructure and renewable energy sectors. Sera is co-headquartered in New York, NY and London, United Kingdom with own offices in The angel, Toronto, and Seoul.

Contact:
Anne Hart / Claire Walsh
[email protected] / [email protected]

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Modiv Completes Three Commercial Real Estate Transactions in Texas | News

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Newport Beach, Calif., Aug. 3, 2021 (GLOBE NEWSWIRE) – The transactions include an acquisition, property sale and lease renewal, indicating healthy portfolio activity for Modiv in the Texas real estate market

Modiv Inc., an innovative real estate, fintech and proptech asset manager, today announced the completion of three separate commercial real estate transactions in central Texas. The transactions include an acquisition and rental extension in San Antonio and a property sale in the greater Austin area with a cumulative total of 99,265 square feet of real estate.

Texas Transaction Details include:

Acquired a 3,800 square foot fast food restaurant leased to Raising Cane’s® located at 19110 Stone Oak Parkway in San Antonio. Founded in 1996,

Raising canes

is a popular and growing fast food brand that specializes in chicken fingers and operates approximately 550 restaurants in 30 states and the Middle East. The property is on a major thoroughfare near schools, medical facilities, and new housing developments. An eight year lease extension for a Pre-K 4 SA Educational Center on 1255 Old Highway 90 W in San Antonio. The 50,000 square foot facility is leased to the San Antonio Early Childhood Development Corporation (“Early Childhood”) and the lease is guaranteed by the City of San Antonio. This pre-K center is one of four in the San Antonio market and has an enrollment of over 400 students. Modiv worked closely with the board of directors of Early Childhood on the transaction so that the center can continue its mission of delivering high quality, high impact early childhood education to the San Antonio community at 5900 183A Frontage Road in Cedar Park became with an aerospace technology company completed. Pricing came before the most recent independent assessment that shows the strength of the greater Austin commercial real estate market.

“These transactions reflect our team’s ability to add value and actively manage our diverse real estate portfolio,” said David Collins, chief property officer at Modiv, based in Dallas. “We remain optimistic about the continued growth of the Texas commercial real estate market and we believe our investments in the area can provide long-term value to our investors.”

Within Texas, Modiv also owns an office property leased to Texas Health Resources in Dallas and a retail property leased to Dollar General in Big Spring.

Forward-Looking Statements Certain statements contained herein, other than historical facts, may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Exchange Act of 1934 as amended (the “Exchange Act”). Modiv intends that all such forward-looking statements be subject to the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act, Section 21E of the Exchange Act and other applicable laws. Such statements include, in particular, statements about Modiv’s ability to add value and actively manage its portfolio, the strength of the Texas real estate market and its ability to create long-term value. Therefore, such statements are not guarantees of future results and are subject to risks, uncertainties and other factors, some of which are beyond Modiv’s control, which are difficult to predict and which could cause actual results to differ materially from those expressed in the forward-looking statements implied differ. seek statements. Accordingly, Modiv makes no representations or warranties, express or implied, as to the accuracy of any forward-looking statements contained herein. Unless otherwise required by federal securities laws, Modiv assumes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unforeseen events, or changes in future operating results, whether as a result of new information, future events or otherwise.

About Modiv Modiv Inc., a real estate, fintech and proptech asset manager, is reinventing modern real estate investments for retail investors. Driven by innovation, a focus on investors and an experienced management team, Modiv has created one of the largest unlisted real estate funds raised through crowdfunding technology and the first real estate crowdfunding platform wholly owned by investors. Modiv offers retail investors access to real estate and property-related investments that are designed to generate both income and long-term growth. To learn more, visit modiv.com.

Contact Associate Vice President Hudson Pitts RUBENSTEIN hpitts@rubenstein.com 248-767-1688

Copyright 2021 GlobeNewswire, Inc.

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