William Beardmore-Gray’s Post

Huge. Knight Frank and Bayleys complete acquisition of McGrath and announce new board of directors in Australia. "Following shareholder and regulatory approvals, the Scheme of Arrangement became legally effective on June 17, with the quotation of McGrath Shares on the ASX suspended on the following day. On June 27, the scheme of arrangement was implemented, with settlement of the acquisition now effected. John McGrath, Founder and CEO of McGrath said: “We are delighted to be joining forces with two of the greatest real estate brands in the world. Knight Frank is the most prestigious residential agency globally and provides us and our customers with instant access to the best global network and the most sophisticated international buyers in the world. For Knight Frank, the McGrath acquisition demonstrates the firm’s commitment to Australia, with the country further consolidating its position as Knight Frank’s largest presence outside the UK. In fact, the partnership elevates Australia and New Zealand to one of the largest regions within Knight Frank’s global network, with the number of offices in its Australian network now surpassing its UK business. Together, Knight Frank and McGrath have 171 offices across Australia. Meanwhile, Knight Frank, Bayleys and McGrath combined have a footprint of 276 offices across Australia, New Zealand and the Pacific Islands. Knight Frank is the largest privately owned real estate agency in the world, with more than 740 offices globally, in over 50 markets, with more than 25,000 people. This includes strategic relationships with Douglas Elliman, Berkadia and Cresa in the US, SMTB in Japan, as well as Bayleys in New Zealand. Knight Frank Australia Chief Executive Officer James Patterson said: “This acquisition represents another significant milestone in Knight Frank’s international expansion journey, allowing us to consolidate the business’ residential footprint globally, whilst leveraging our expertise and extensive reach to create enormous opportunity for McGrath and their customers. It will also allow Knight Frank Australia to continue to focus on its core business of commercial property whilst gaining exposure to the strong domestic residential market through an established brand offering attractive growth potential." Watch this space. https://lnkd.in/g87-euxU

The commercial real estate brokerage business search for a new home and business model. This is a must read as we all reexamine our careers in aftermath of NAR. What is the value proposition from NAR, industry associations like CCIM Institute, and large brokerage companies in this environment? The successful and veteran brokers are revealing their answer and will find a new path forward. Rebranding won't cut it. Rethink the whole business model and your value add proposition. #cre #ccim #sior #naiop #uli #trepp #commercialrealestate #realtors https://lnkd.in/gTBz5AHY

THINKING OUTSIDE THE BOX 💭📦 The owners of this property recently recieved planning permission for the conversion of their ancillary upper parts into self-contained flats. They were really keen on the location of the building, with the likes of McDonald's & Costa Coffee immediately to the right, and Marks and Spencer, EE & Superdrug immediately to the left. Their ground floor unit was also occupied (income-producing), and as such, they were not minded to sell. Understanding local planning policy, together with residential re-sale values versus market rental values, got me thinking… What about the use of the property as a HMO? Would that throw up an offer too good for the owners to refuse 💡 Fast-forward to today, where we’ve successfully #acquired a long lease of the upper parts of the building for clients, who will now be re-planning the current consent for HMO use. The price achieved is equal to 20% in excess of the sites mutually agreed value based on it’s current consent… leaving very happy sellers and with thanks to very good buyers. Always a nice way to start the week 😊 #HMO #PropertyDevelopment #PropertyAcquisition #PlanningPermission

This one right here is extra special 🚀 Join us in congratulating Alpha's very own Justin Sudol, on acquiring his first investment property for his rental portfolio! And what a gem of a deal, too 💎 Major shoutout to Director of Acquisitions Joe Ireland for locking up this attractive 4-unit multifamily deal in Cheshire, Connecticut. You don't find deals like this every day. Justin couldn't pass up on the massive value-add opportunity to bring this property from a 5.4 cap all the way up to a 12.5 cap once stabilized! Going into the deal, rents were double below market, tenants all month-to-month, and only cosmetic renovations are needed. That's a DEAL any way you look at it, and especially in a great town like Cheshire where market rents for 3 bedroom units run around $2,200/month. Congratulations to our savage Director of Dispositions on his first of many! 🏆 Comment "Multifamily" with your buying criteria if you're currently looking for off-market investment deals like this one 📲 #connecticutrealestate #multifamilyinvesting #offmarket #realestate

CAPREIT has acquired the newly constructed Alto Towers apartments in London, Ont., for $130 million. The transaction is part of $216M in acquisitions and dispositions CAPREIT completed in Q1. "The 16- and 17-storey Alto Towers were constructed in 2019 and 2021 and comprise a total of 291 apartments. The larger-than-average units offer an average of 1,160 square feet of living space in multiple sizes and configurations. The acquisition continues CAPREIT’s strategy to divest some of its older properties while acquiring newer purpose-built assets." https://lnkd.in/gnS52ED4 #london #ontario #multifamily #sale

Local private investor acquires prime asset leased to Anglicare in Brisbane Technology Park sold for $23 million - Cushman & Wakefield Business & Technology Precinct developer Graystone Group have sold a brand new commercial asset for $23 million. The deal negotiated exclusively by Mike Walsh and Peter Court of Cushman & Wakefield, marks their third suburban office park transaction this year alone. Their successful portfolio now exceeds $55 million in transactions, including the recent sales of 35 Miles Platting Road, BTP ($13.55 million) and 381 Macarthur Avenue, BTP Northshore Hamilton ($18.5 million). Mike Walsh Cushman & Wakefield’s Director & Joint Head of Middle Markets QLD commented on the continued success of suburban office park transactions, "These deals reaffirm the outperformance of these parks, attributed to the cost-effective value proposition they offer, compared to immediate inner-city options. Jonathan O'Brien Jessica Freeman The ASEAN Developer Bruce Anderson Peter Robbie Kirsty Heymink Bruce Loxton Clint Bellamy Amber Farthing Lorenzo Parenti Sam Arkell Margaret Hutchison Patrick Birchley Evi Meka #cushwake #cushmanwakefield #cushmanandwakefield #cre #commercialproperty #commercialrealestate #realestatedevelopment #realestateinvesting #propertyinvestment #brisbanerealestate #brisbaneproperty #realestatedeveloper

OK, let’s play a game. Since launching exactly 10 years ago, the Berkshire Hathaway HomeServices brand has expanded to more than 50,000 real estate professionals and nearly 1,600 offices around the globe. Can you guess how many continents on which you can find a Berkshire Hathaway HomeServices brokerage? Hint: It rhymes with MORE. #BHHS #BHHSga #FORERVERAgent #ForeverForward #Celebrate

Vistry Group has agreed terms with Blackstone’s real estate arm and Regis Group for the acquisition of a portfolio of new-build homes totalling a gross development value of around £580m. The portfolio would be managed by Leaf Living, a private rented sector housing provider backed by funds managed by Blackstone and Regis. The portfolio, which is concentrated in the south east of England and is largely plots from Vistry’s former housebuilding landbank, consists of some 1,750 homes across 36 Vistry developments. James Seppala, head of European real estate at Blackstone, said: “Institutional private capital can play an important role in providing high quality housing stock across the UK, particularly in the private rented sector which is significantly undersupplied today. Partnerships such as these can meaningfully accelerate the delivery of new homes and help alleviate structural undersupply across the sector.” Read more ⬇️⬇️⬇️ https://lnkd.in/e3Z8dQi5

OK, let’s play a game. Since launching exactly 10 years ago, the Berkshire Hathaway HomeServices brand has expanded to more than 50,000 real estate professionals and nearly 1,600 offices around the globe. Can you guess how many continents on which you can find a Berkshire Hathaway HomeServices brokerage? Hint: It rhymes with MORE. #BHHS #BHHSga #FORERVERAgent #ForeverForward #Celebrate

What do analysts think of the Barratt Redrow deal? Here are some views