Major CRE Hires, Acquisitions And Accomplishments: Best Of Biswire September 2023
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Joint Venture Acquires Bay Harbor Island Apartments
A joint venture involving U.S.-based SOLU Real Estate and Canadian-based 3T Equity has acquired Bay Harbor Island Apartments, a 34-unit community in a prime location near Bal Harbor Mall and Surfside Beach. The acquisition aims to expand SOLU Real Estate's development portfolio in South Florida, with plans for near-term rebranding and potential future development of the properties.
Xtremepush Acquires Thunderbite, Enhancing iGaming Solutions
Irish-owned Xtremepush has acquired UK-based Thunderbite, a provider of gamification and loyalty programs, aiming to redefine player engagement and boost customer loyalty across various industries, including sports betting and iGaming. The acquisition promises a unified solution that combines gamification expertise with real-time data, AI, and omnichannel activation.
RATIO Design Expands Expertise with New Principals
RATIO Design welcomes Clay Markham and Angie Wallin as new Principals, enhancing its hospitality and mixed-use practices. Both were previously with CallisonRTKL and bring extensive design and leadership experience from various global projects and will play pivotal roles in pursuing new opportunities and designing transformative spaces in the rapidly growing hospitality and mixed-use market sectors.
Fort Capital Acquires Houston Industrial Portfolio XIII
Fort Capital has acquired Houston Industrial Portfolio XIII, a set of Class B light industrial properties, making it the #1 private owner of Class B & C light industrial spaces in Houston. The acquisition includes five buildings across three locations, totaling 258,999 square feet, and is 81% occupied across 97 units. Fort Capital aims to enhance operational efficiency and ensure growth by leveraging its expanded footprint, which now spans approximately 3.8M SF in Houston.
Cooper Carry Acquires 505Design, Expanding Design Reach
National design firm Cooper Carry has acquired 505Design, enhancing its design capabilities and reach across the U.S. The acquisition aligns with CEO Kyle Reis’ strategic plan focusing on creative capital, agility and growth, and will expand Cooper Carry’s presence with new offices in Boulder, Colorado, and Charlotte, North Carolina. 505Design, known for its mixed-use, retail, and residential projects, will bring additional expertise and a portfolio that includes award-winning developments like Kingsley in South Carolina.
Peachtree Group Unveils Refreshed Corporate Brand Position
Peachtree Group, a diversified investment firm in commercial real estate, introduces a refreshed brand position and a new tagline, "Guided by Intuition, Grounded by Expertise." The rebranding aims to better showcase the company's integrated investment and service platforms, consolidating all affiliated brands under the Peachtree Group umbrella, and introducing a new logo. The firm combines intuitive understanding with expertise to drive growth and exceptional results in its diverse portfolio.
Peachtree Group Closes $556 Million in Loan Originations
Peachtree Group has closed $556M in loan originations, part of the $1.1B deployed year-to-date, with the remaining $526M utilized to acquire five hotels and initiate three new hotel developments. Amidst concerns of refinancing maturing debt in the commercial real estate sector, Peachtree Group Credit, previously Stonehill, has emerged as a significant player, ranking as the 8th largest U.S. commercial real estate hotel lender. The firm anticipates over $1.0B in originations for 2023 with continued growth into 2024.
Asa Posner of Sustainable Investment Group Recognized as 2023 LEED Fellow
Asa Posner, Vice President of Sales at Sustainable Investment Group (SIG), has been honored as a 2023 LEED Fellow by the U.S. Green Building Council and GBCI. With nearly 15 years in sustainability and green building services, Posner has led over 220 LEED projects, certifying 70M SF of LEED-certified space, and mentored over 1,000 professionals in earning their LEED credentials. His leadership at SIG has significantly impacted the advancement of sustainability in the built environment.
Fort Capital Ranked 10th-Best Workplace in Real Estate by Fortune
Fort Capital, a prominent real estate investment firm, has been recognized by Fortune as the 10th-best workplace in real estate for 2023. This accolade underscores the company's dedication to creating a positive work environment, prioritizing employee well-being, and spearheading innovation in the real estate sector. CEO & President Jason Baxter expressed immense pride in the recognition, attributing it to the team's persistent pursuit of excellence and commitment to establishing Fort Capital as a leader in the industry.
EDITOR’S NOTE: Parts of this story were generated by AI and have been reviewed by our editorial team for accuracy.
