Beach Point Capital Ireland and UK’s Post

Fintech Movers & Shakers - Bridgit appoints three new BDMs - Jolene Farrow, Matthew Pride & Lili Barron #proptech #australianproptech #propertytechnology #proptechnews #scaleups #scaleupnews #australianscaleups #australianfintech #fintech #fintechnews #finance #financialtechnology #jobs #moversandshakers

https://lnkd.in/g6kFyj5s "Pioneer of Minority Stake Model expects to double its network of Advisers over the next two to three years" Merchant's approach prioritizes #partnership empowerment. As an operating company, we're afforded the ability to be responsibly creative and give more money to our partners so they can deploy it with our know-how attached. As a means of firm growth, M&A can be a faster and more efficient path to expanding business compared than with organic growth alone. Merchant are not an aggregator, but a growth accelerator. Our capital is not just financial capital but ‘consultative capital’. We actively work with our partners to help turbo their growth. Merchant's approach prioritizes #partnership & #alignment. #growth #ExpansionCapital #wealthmanagement #partnership #alignment #ConsulativeCapital #GrowthAcceleration #partnership 

ASX-listed REA Group acquires remaining interest in proptech scaleup Realtair #proptech #australianproptech #propertytechnology #proptechnews #property #realestate #acquisition #scaleups #scaleupnews #australianscaleups

As a means of firm growth, M&A can be a faster and more efficient path to expanding business compared than with organic growth alone. Merchant are not an aggregator, but a growth accelerator. Our capital is not just financial capital but ‘consultative capital’. We actively work with our partners to help turbo growth from $10-20m valuations to a $50-100m plus valuations. Merchant's approach prioritizes #partnership & #alignment. As an operating company, we're afforded the ability to be responsibly creative and give more money to our partners so they can deploy it with our know-how attached. #wealthmanagement #growth #ValueCreationPlan #VCP #partnership #alignment https://lnkd.in/g6kFyj5s

Yesterday, news about the £450 million acquisition of Lomond was announced. Clearly, a deal of this size has been in the making for a couple of months, so congrats to all parties involved on a huge success! A great track record of growth and 60+ bolt-ons have been successfully completed in just a few years. For the market, this is great news in a few dimensions: First, it establishes a precedent for a pure residential agency (excluding JLL, Savills, etc.) to be worth up to half a billion. Previously, the largest known player with public evaluation had been Foxtons, with a market cap of around £200 million. Also, Chestertons been purchased recently by a larger consolidator Emeria for an amount believed to be ~£100m. Now, the standard has been raised to nearly £500 million, and one can only imagine how much Dexters could be worth. Second, ICG is a huge public asset manager. This implies that we'll soon see some financial metrics of the business. This would set up a benchmark for revenue and EBITDA multiples, which large businesses are valued upon. It would also legitimise a 12-15x lettings business EBITDA to EV valuations, given the natural resilience of lettings landlords' portfolios. It is known that traditional businesses with sticky revenues can be worth even more than that - with e.g. not even tech-first insurance brokers trading at 16-18x EBITDA and being public companies worth £2-20bn+. Time will tell which businesses are actually perceived by the market with a higher premium - typical "saas for X", or traditional sticky businesses with boots on the ground and hence the source of strategic control. As Andreessen Horowitz keeps putting it, AI might eat the pure software very very soon. Adam J Walker & Associates Ltd correctly points out: more news will be coming in this area. Interesting times! #lettingagent #realestateuk #acquisition #realestate Letting Agent Today

A #GrowthStrategy isn’t just about acquisitions! 🏘️ Our customer Nurtur says it’s going to focus on #proptech solutions and help deliver #AI to estate agents following its surprise but strategic disposal of Fine & Country and The Guild of Property Professionals to The Property Franchise Group (TPFG). Jon Cooke, Chief Executive of Nurtur, says: “Our decision to divest the Nurtur Networks arm is a strategic step towards consolidating our position as a market leader in the homeowner and home-mover sphere. By refocusing our efforts on integrating powerful AI capabilities throughout our software and services, we are positioning ourselves and our customers for unprecedented success.” Matt Siebert, Partner at Toscafund Asset Management LLP, the long-term backer of the group, adds: “Nurtur is now the largest supplier of #Marcoms solutions to estate agencies in the UK and we believe a streamlined strategy dedicated to offering innovative AI capabilities will power the group’s next growth phase.” Read the full story in The Negotiator 👉 https://bit.ly/3SjfwIm

Hammerson: one must admire the clear differentiation between UK and European listed real estate companies. Most European listed companies have been too leveraged, corporate governance has been weak to terrible, and there has been a failure to acknowledge mistakes and seek to improve their strategy. Meanwhile, UK-listed companies have run conservative balance sheets, corporate governance has been strong and management has been quick to learn lessons from the past. This ideal from Hammerson demonstrates that they have created value and had the discipline to recycle their capital. #realestate #equity #credit

Peak Rock Capital has acquired TAPCO (Traffic and Parking Control Co., LLC), a leader in intelligent transportation systems and traffic safety products. TAPCO’s CEO Eric Stangel and co-owner Andrew Bergholz emphasized their commitment to advancing road safety and innovation through this partnership. https://lnkd.in/dkCFbFqM #LBO #Buyouts

Breaking News 🚨: @Compass is acquiring @properties, Christie's International Real Estate! The $444 million deal brings the 8th-largest brokerage firm into the Compass portfolio and represents the #1 brokerage in United States first major move into the global market. Christie's International Real Estate has a global network of more than 100 independent affiliates in 50 countries. "Compass had been focused on the agent entrepreneur," said Robert Reffkin, Compass founder and CEO during an investor call following the announcement. "With this expansion for the company, we now can serve independent broker-owner entrepreneurs … we can support those goals." With a larger global reach we at Compass will have a strategic advantage especially for luxury properties to attract a larger audience. We are excited for the merger to complete and see how we can utilize this new partnership.

CapitaLand Integrated Commercial Trust (CICT) plans to acquire a 50% interest in Ion Orchard and Orchard Link from CapitaLand Investment (CLI). The agreed property value for the 50% stake is S$1.85 billion. The total acquisition outlay is estimated at S$1.1 billion after adjustments. Financing: + CICT intends to finance the transaction through a private placement and a preferential offering. + The aim is to raise gross proceeds of at least S$1.1 billion. Estimated issue prices: + Private placement: S$2.038 to S$2.091 per unit + Preferential offering: S$2.007 per unit + CLI has committed to fully subscribe to its entitlement in the preferential offering. Timeline and Strategy: + Expected completion: Q4 2024, subject to unitholder approval. + Described as a "transformational move" in CICT's strategy. + Aims to capture the luxury retail segment in Singapore. Financial Impact: + The acquisition is expected to be immediately accretive to CICT's distribution per unit (DPU). + Projected H1 FY2024 DPU accretion of 0.9% (from S$0.0543 to S$0.0548). CLI's Perspective: + The divestment demonstrates CLI's support for CICT. + Proceeds will be used to diversify CLI's portfolio and establish new fund products. + Aligns with CLI's asset-light strategy to recycle assets and grow funds under management. Ion Orchard Details: + Currently held in a 50:50 joint venture between CLI and Sun Hung Kai Properties Limited. + Eight-storey mall with about 57,935 square meters of net lettable area. + 96% committed occupancy rate as of end-June 2024. This acquisition represents a significant move in Singapore's commercial real estate market, potentially strengthening CICT's position while allowing CLI to pursue its strategic objectives. #REITs #Growth #Strategic #Investment #RealEstate #Acquisition #LuxuryRetail #ShoppingMall #Singapore I The Business Times I SPH Media I Michelle Zhu