In the Money

Singapore real estate giant CapitaLand enters U.S. multifamily with $835 million acquisition

Buying 16 Class-B properties in Seattle, Portland, Los Angeles, and Denver
With rents continuing to rise with little sign of slowing, multifamily real estate in the U.S. is beginning to draw some serious international investor interest, as one of Asia’s largest real estate companies is planning a U.S. invasion of its own. Singapore’s CapitaLand announced Tuesday that it is entering the U.S. multifamily market with an $835 million acquisition of 16 apartment communities in Seattle, Portland, Los Angeles, and Denver.
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Quicken Loans onboards new agency to head massive marketing effort

Universal McCann takes over media buying and planning operations
According to an article from AdAge by Adrianne Pasquarelli and Megan Graham, IPG MediaBrands’ Universal McCann will now be the agency of record responsible for Quicken Loans’ media planning and buying, which Rock Holdings, Quicken’s parent company, has already made considerable investment in.
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Real estate listings site Zumper raises $46 million to build instant rental feature

Plans “Book Now” platform with funding from Axel Springer, Blackstone
As mellohome CEO Chris Heller recently noted, there’s a race afoot to be the dominant player offering a true one-stop-shop for homebuying. There appears to be a similar sprint happening on the rental side of the business as well. Case in point, rental listings site Zumper is preparing to roll out its own end-to-end platform that will allow renters to instantly rent an apartment or a home through its site.
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Finicity, Capsilon partner to streamline loan applications

Verification of Assets solution integrated into Capsilon’s borrower and loan officer workspaces
Finicity, a fintech company and 2018 HW Tech100 winner, announced an integration with Capsilon into its Verification of Assets solution. Capsilon Chief Operating Officer Jim Obsitnik said the mortgage industry is undergoing radical transformation driven by technology.
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Single-family rental giant bets big on house flipping market

Amherst Holdings is putting up $1 billion to fund the launch and expansion of a house flipping operation called Bungalo
Amherst Holdings, one of the largest single-family rental entities in the U.S., is putting up $1 billion to back a platform it can use to sell off homes it has flipped. According to a Bloomberg article, Amherst owns or manages roughly 20,000 single-family rentals and is launching a subsidiary called Bungalo to flip properties, selling them at no-haggle prices in the hopes of attracting buyers who want a simpler home buying experience.
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FirstClose gets capital infusion

Tech provider lands multi-million-dollar investment to fuel continued growth
Mortgage technology provider FirstClose has landed funding from Cypress Growth Capital to fuel its mission to capture more market share. While the exact dollar amount was not revealed, FirstClose, which saw its revenue climb 62% last year, said it received a multi-million-dollar investment from the Dallas-based Cypress Growth.
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RealPage completes $100 million acquisition of LeaseLabs

Provider of digital marketing services and software is RealPage’s latest acquisition
RealPage’s $100 million acquisition of LeaseLabs is now complete. The acquisition of LeaseLabs is just the latest for RealPage, a provider of software and data analytics to the real estate industry. This is RealPage’s sixth since January 2017 and pushes the company’s total outlay for its recent expansion past $1 billion.
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Americans have the highest amount of tappable equity in history

There is now more than $6 trillion for the taking, but fewer homeowners are touching it
The amount of home equity accessible to America’s 44 million homeowners surpassed $6 trillion – the highest level in history. Now, Americans have three times as much equity as they did when the market bottomed out in 2012, and 21% more than they did at before the bubble burst in 2006. Yet, fewer appear to be taking advantage of this major source of wealth.
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Retirement experts: Trump's order on retirement savings falls short

Fixing the retirement problem means fixing Social Security
Last week, President Donald Trump made a move to address what many are calling a looming retirement crisis that could cripple the country as more Baby Boomers age. While his promise to “take care of our people, to rebuild our nation, and to fight for our great American workers” sounds great, some retirement experts question whether it really amounts to much.
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