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Resource Apartment REIT III, Inc. Purchases Apartment Community

On June 26th, Resource Apartment REIT III, Inc., sponsored by Resource Real Estate, LLC (“Resource”), purchased The Summit, a high-rise apartment community located just outside of the nation’s capital in Alexandria, Virginia.

The Summit is located in an area that will see immense growth in the near future due to Amazon’s HQ2 headquarters situated a 15-minute drive away in Crystal City. The property also offers desired amenities such as spacious floor plans, an outdoor pool with seating and lounge areas, and a fitness center.

REIT’s CEO, Alan Feldman, comments that The Summit’s location, and millennial appeal, will be crucial to its success.

“The Summit is ideally positioned where America works and plays – a fact that should become even more apparent with the future impact of Amazon on the Washington, D.C. metropolitan area,” said Alan Feldman. “The community also sits in a walkable setting with direct highway access, a positive for the influx of well-educated Millennials looking to make Alexandria home.”

With the median home value in The Summit’s metro area sitting at 127 percent above Washington, DC’s median, many buyers cannot afford to buy a home, and can find many of the same luxuries in an apartment, with added benefits such as close proximity to major employers such as the Pentagon and Fort Belvoir/Quantico.

Resource Real Estate, LLC (“Resource”), the sponsor of REIT, is a wholly-owned subsidiary of C-III Capital Partners LLC, a fully integrated asset management and commercial real estate services company led by CEO Andrew Farkas.

NAI Global Brokers Property for MBS Standoffs

NAI Global’s branch in Las Vegas, Nevada, recently brokered the purchase of Building C of Henderson Freeways Crossing for MBS Standoffs. This industrial property was purchased for $2.5 million from Panattoni Development and spans 19,280 square feet. Building C is one of six buildings that occupy the 452,710 square foot dwelling of Henderson Freeways Crossing. NAI Global is a subsidiary of C-III Capital Partners, which is a leading real estate investment company owned by Andrew Farkas.

The property itself is in close proximity to McCarran International Airport and interstates 215 and 515, making it an ideal location. The rest of the buildings range in size from 14,320 square feet to 250,450 square feet. MBS Standoffs will be operating its West Coast distribution from this location.

Since NAI Global is a leading global commercial real estate brokerage firm, representatives are always eager to assist other companies in brokering new properties. This, in turn, enriches both NAI Global and similar properties’ portfolios and offers exciting new opportunities for other companies.

An example of another property NAI Global brokered recently was with Grubb Properties. A commercial real estate company that specializes in properties in the southeastern US, Grubb made its very first purchase in the Washington, D.C. area with the assistance of NAI Global. The property it acquired was Argon Plaza in Fairfax, VA, which is in close proximity to public transportation.

Exantas Capital Corp. Set to Report Quarter 2 Results

Exantas Capital Corporation recently announced that it will report its operating results for the second quarter of 2018 on Wednesday, August 1st. Exantas, listed on the New York Stock Exchange as XAN, is a real estate investment trust and is a subsidiary of C-III Capital Partners LLC. Mr. Andrew Farkas serves as Chairman and CEO of C-III and is also Chairman of Exantas.

Exantas, formerly known as Resource Capital Corporation, is expected to report $0.10 earnings per share in this report, which would be a 200% increase from the first quarter’s EPS. In the past year, the stock has had a low of $8.51 and a high of $11.38, and Exantas’ market cap stands at $328.53 million. The first quarter of 2018 saw an increase from quarter 4 of 2017 in the company’s debt to assets ratio, bringing it to 68.3%.

Exantas Capital Corporation primarily finds investment opportunities in transitional CRE lending and longer duration CRE credit investments. The company is proud to have the ability to utilize C-III’s asset management platform to gather unique insights that other investors are not aware of. As part of C-III’s portfolio, they are able to take advantage of other C-III subsidiaries such as NAI Global and Real Capital Markets to draw upon their expertise. The resulting investments are better focused and are shaped for higher returns.

With these interconnected subsidiaries, Mr. Farkas has propelled C-III to immense success, with $8 billion of assets under management and $50 billion of commercial real estate loans resolved. As C-III has grown and expanded, they have created a diversified platform that includes fund management, property management and brokerage, among others. With the support of C-III Capital Partners, Exantas has also found success in the marketplace, and its second quarter results are highly anticipated.

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