Commercial Real Estate Weekly Round Up Vol. 10

How Blockchain Tech Will Change The Commercial Real Estate Industry

BlockChain Tech UREH

Real estate has been slow to adopt blockchain technology. However, the key benefits of reduced central authority increased speed, and, perhaps most importantly for property transactions, trust, can each be realized through the development of blockchains.
Blockchain and real estate holds the promise of simplifying the process of buying and selling homes, making it more centralized and accessible and, in many cases, cutting out countless extra fees and processes. As well as streamlining processes, blockchain in real estate can reduce fraud and cut costs, like transaction fees. These advantages are set out in a Deloitte report called “Blockchain in Commercial Real Estate: The Future is Here.”

 

Electronics retailer Best Buy Inc. will shutter 250 U.S. mobile stores by May 31

Best Buy UREH

The company has been working to recover from plunging sales that ate into profits for roughly six years. As a result, it has enhanced its customer service offerings and lowered prices for online purchases to remain competitive against e-commerce giants like Amazon, Reuters reports. And the strategic move has paid off — same-store sales increased six quarters in the last two years. Employees affected by the closures will be moved to different divisions within the company, according to reports, and staff who leave after May 31 will receive severance packages.

 

Foreign Investors Are Looking At Student Housing For Safer Investments

Student Housing

The student housing sector has been deemed “recession-proof” for its ability to weather the storm that a financial crisis can bring. While enrollment in colleges has been on the decline since 2010, enrollment in public universities has increased — particularly in the case of Tier 1 postsecondary schools with STEM programs. Residences near these universities have also become sought-after assets, the Wall Street Journal reports.

 

Electra America launches $300M multifamily fund

eletra Apartments

Electra America closed its 2017 fund and is launching a new $300 million fund, both focused on multifamily real estate. The North Palm Beach-based private equity real estate firm closed its 2017 fund with $212 million from foreign institutions and high-net worth investors, according to a press release. It acquired more than 7,000 apartments in Georgia, Florida, North Carolina and Texas.

 

Why The Ultra-Wealthy Prefer Multi-Family Offices

There are basically three types: investment managers, wealth managers and multifamily officers. Each has advantages and disadvantages. All should be able to provide investment portfolio management, including asset allocation, rebalancing and a diverse set of potential investments.

 

Fintech Startup Magilla Wants to Be the Match.com of Loans

 

Magilla Loans

 

Since its launch in January 2016, Sacramento-based startup Magilla Loans says it’s originated more than $5 billion in loans and is changing the way lenders connect with borrowers. The platform can shrink into a few days what can often be a weeks- or months-long process of loan applications, data submissions and waiting just to get a loan term sheet.

“It’s very similar to a dating app,” particularly for borrowers or lenders with fairly niche interests, one of the company’s co-founders, Dean Sioukas, told Bloomberg Law. “We’re just trying to speed things up on the front end,” Sioukas said.

 

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