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VTS Recognized on Commercial Observer’s Annual Power Proptech List For Third Consecutive Year

VTS

VTS, the industry's only technology platform that unifies owners, operators, brokers, and their customers across the real estate ecosystem, today announced that Commercial Observer has recognized CEO Nick Romito, Chief Strategy Officer Ryan Masiello, and Chief Technology Officer Swaroopa Penikelapati in its third annual Power Proptech List. “We’ve seen immense product-led growth in 2024, and our recognition as a power player in proptech is a testament to all of the hard work our team at VTS has invested since day one,” said Nick Romito, CEO of VTS. “We look forward to maintaining our position at the forefront of industry transformation and to continue pushing the boundaries of innovation for real estate.” Under Romito, Masiello, and Penikelapati’s leadership, VTS has celebrated numerous company milestones in the past year and continued to expand its platform’s capabilities. In March 2024, VTS announced the launch of VTS 4, the company’s novel predictive analytics solution powered by the newly developed VTS Demand Model. Along with the launch of VTS 4, VTS expanded its VTS Data offering to the London market, bringing commercial real estate’s only real-time data and insights to the United Kingdom. In April 2024, the company announced it would be expanding into the multifamily sector with the launch of its resident experience offering, VTS Activate Multifamily, and major residential industry players Lendlease, Habitat, and Stonehenge all selected and deployed it as their resident experience solution of choice. In May 2024, VTS introduced VTS Activate Workplace, the first workplace experience solution that can combine native workplace and building systems into one application. VTS continues to be a trusted source for industry data, with its quarterly VTS Office Demand Index (VODI) and annual Global Landlord Report. In February 2024, VTS introduced its Global Workplace Report, which leverages data to pinpoint corporate tenant needs and expectations related to office space. “We’re honored to be recognized once again on Commercial Observer’s Power PropTech list,” said Ryan Masiello, Chief Strategy Officer at VTS. “At VTS, we have always focused on anticipating industry needs and delivering solutions that drive meaningful impact for both landlords and tenants. We remain committed to being a leader in proptech, and are incredibly excited for what the future holds for both VTS and the real estate industry at large.” "I’m thrilled to be recognized by the Commercial Observer in their annual Power Proptech List alongside Nick and Ryan, as well as other innovators in the proptech space” said Swaroopa Penikelapati, Chief Technology Officer at VTS. “VTS is committed to innovation by driving meaningful outcomes through our technology and solving problems for our customer base. I look forward to continuing to push the boundaries of what our platform can deliver and drive maximum value for our customers.” Commercial Observer’s annual Power Proptech List is a compilation of the most influential individuals in the rapidly evolving world of proptech. In a field that continues to undergo significant transformation, this list recognizes executives and companies that shape the industry and possess the resilience and innovation necessary to thrive in changing times. About VTS VTS is the commercial real estate industry’s only technology company that unifies owners, operators, brokers, and tenants in a single platform to capitalize on opportunities revealed in every square foot of their properties. In 2013, VTS revolutionized the commercial real estate industry’s leasing operations with what is now VTS Lease. Today, the VTS Platform is the largest first-party data source in the industry, transforming how strategic decisions are made and executed by CRE professionals across the globe. With the VTS Platform, consisting of VTS Lease, VTS Activate, VTS Data, and VTS Market, every business stakeholder in commercial real estate is given real-time market information and workflow tools to do their job with unparalleled speed and intelligence. VTS is the global leader, with more than 60% of Class A office space in the U.S., and 12 billion square feet of office, retail, and industrial space is managed through our platform worldwide. VTS’ user base includes over 45,000 CRE professionals and industry-leading customers such as Blackstone, Brookfield Properties, LaSalle Investment Management, Hines, BXP, Oxford Properties, JLL, and CBRE. To learn more about VTS, and to see our open roles, visit www.vts.com. Contact Details Sofia Chevez +1 646-912-5354 schevez@marinopr.com Company Website https://www.vts.com/

October 14, 2024 09:00 AM Eastern Daylight Time

News Release

Housebell Launches a Property Dealing Platform, Assisting Chinese Residents in Singapore.

Rev Up Marketers

Housebell, a top-notch real estate application is making waves by helping Chinese people rent and purchase property in Singapore and launched its platform on the HDB hub in Singapore. As a property application, Housebell offers a lot of services via both rental and sale marketplaces.In rental or sale disputes, those agents have years of experience and know how to handle such disputes among clients, which will offer more professional help. For many Chinese people who arrive in Singapore for the first time, Housebell assists them by dealing with language and cultural differences, mixed property market information, and complex transaction processes as well. Although the Singapore property market has high transparency,it allows customers to find comprehensive property market information with complete guidance from professional real estate agents. With the guidance of professional real estate agents, customers fully understand the relevant laws and regulations, which prevent problems during the transaction or lease process. In addition, Housebell is deeply aware of the real estate demands and expectations of the Chinese in Singapore. Therefore, throughout the entire process from property selection to contract signing and implementation, it endeavors to be in line with the Chinese culture and habits and provide the most professional and effective services. Housebell prioritizes customer satisfaction and offers professional services. Its real estate agents are proficient in market dynamics, knowledgeable about real estate laws and finance, as well as pay attention to the needs of each client. They offer meticulous services from the first consultation to the signing of the deal. Hosuebell strictly screens the listings displayed on the platform to ensure that all listings are authentic and reliable. Real estate agents in Singapore are required to be certified by the CEA (Council for Estate Agencies. These will provide users with more reliable and safe legal and institutional protection, Including more, Housebell provides HD and real video viewing and maps looking for houses, the users can watch the property online anytime and anywhere. Stay at home and see the house. With abundant property resources, Housebell offers HDB flats, condos, landed houses, and other property types while users can freely select by house price and rent range, bedroom type, and property size. About Housebell: Housebell, a real estate service application that helps chinese people settle down in Singapore. Now Housebell sincerely invites more agents to join in! Contact Details Resste Holding Pte. Ltd Bin Xiao +65 6518 3183 bin.xiao@housebell.com Company Website https://www.housebell.com/

October 11, 2024 06:55 AM Eastern Daylight Time

The Bermuda Business Development Agency (BDA) Leads Economic Growth as EIRC Initiative Surpasses $500 Million Milestone

Bermuda Business Development Agency

October 10, 2024 – The Bermuda Business Development Agency (BDA) is pleased to announce that the Economic Investment Residential Certificate (EIRC) initiative has surpassed $500 million in investments. This milestone reinforces Bermuda’s position as a premier destination for global investors, showcasing the EIRC’s pivotal role in driving sustained economic growth while enhancing the island’s appeal to high-net-worth individuals seeking both exceptional investments and an unmatched island lifestyle. Since its launch in 2021, The BDA has successfully provided concierge services for all EIRC applicants, guiding them through each phase of the process and ensuring a smooth, seamless experience. This tailored approach has been instrumental in driving economic growth, attracting affluent investors from around the world, including the U.S., U.K., Canada, and Spain. With a minimum investment of $2.5 million, participants gain permanent residency in Bermuda and the flexibility to invest in real estate, new and existing local businesses, Government bonds (previously offered), or social causes. To date, 58 approved applications have driven substantial capital into local enterprises and the property market. The EIRC does however offer more than financial benefits; many certificate holders are drawn to Bermuda because of personal connections, whether through birth, marriage, or long-standing relationships with the island. As a result, these stakeholders are not solely investing capital—they have become part of Bermuda’s community. Data shows that nearly half of a country’s economic growth typically originates from individuals already embedded in the community, and Bermuda is no different. By becoming part of the island’s fabric, these stakeholders unlock even greater opportunities for investment and growth, driving Bermuda’s continued economic success. The Honourable Jason Hayward, Minister of Economy and Labour, commented on the programme's success: "The EIRC initiative has proven to be a vital tool for stimulating economic development in Bermuda. By attracting high-net-worth individuals who are not only investing but also establishing Bermuda as their home, we are creating long-term opportunities for the island. Surpassing the $500 million mark is a significant achievement, and we are confident that the BDA and EIRC programme will continue to contribute positively to Bermuda’s economic growth." Kyle Rogers, Research and Intelligence Manager at the BDA, is also responsible for overseeing the concierge service that supports applicants throughout the entire EIRC process. He ensures seamless management of the certificates, providing crucial guidance from initial inquiry, through comprehensive candidate evaluation, to final approval. He stated, "Reaching $500 million is a testament to Bermuda’s unique offering as both a business hub and an exceptional place to live. The EIRC initiative continues to generate significant value by attracting capital and new residents who are committed to the island’s long-term success. We are excited about the programme’s growth and the bright future ahead." Of the total $500 million investment, $212 million has been directed towards new businesses, $231 million into real estate, $49 million into existing local enterprises, $2.6 million into Government bonds, and $6 million into social ventures deemed beneficial to Bermuda and subject to the Minister’s approval. Jonathan Halata, a developer, investor, and successful EIRC applicant, shared his experience: "As Canadians and Brits, my family has been connected to Bermuda since the 1970s. The EIRC wasn’t just about investing money; it was about building a life for my husband and daughter, and contributing to the community my family has become part of." "My investment in Bermuda extends far beyond financial returns—it's about contributing to the development of premier assets like hotels and tourism infrastructure. Island Realty projects like Azura and Nautilus have brought something unique to Bermuda and created dozens of jobs, which are vital for both airlift and the livelihoods of Bermudians. "I see a direct link between the EIRC programme and Bermuda’s future growth. It’s not just about selling homes—it’s about creating lasting opportunities. Multiplying our experience by 10, 50, or 100 could generate significant new jobs for Bermudians." "The EIRC certificate process was much easier than I expected, especially knowing the complexities with immigration and work permits. The BDA’s white-glove service, with Kyle’s personal attention to detail, made a tremendous difference. They delivered exactly what was promised, with a ribbon on top." For more information on the Economic Investment Residential Certificate and how to apply, visit bda.bm. Media Contact: Simone Gibbons Head of Marketing, Communications & Events D. +1 441 297 7774 | M. +1 441 707 0038 | E: simone@bda.bm The Bermuda Business Development Agency (BDA) encourages direct investment and helps companies start up, re-locate, or expand their operations in our premier jurisdiction. An independent, public-private partnership, we connect you to industry professionals, regulatory officials, and key contacts in the Bermuda government to assist domicile decisions. Contact Details Bermuda’s Business Development Agency (BDA) +1 441-707-0038 info@bda.bm Company Website https://bda.bm

October 10, 2024 02:35 PM Eastern Daylight Time

NAVEX Unveils Curated AI Content Library to Simplify Compliance and Risk Mitigation

NAVEX Global

NAVEX, the global leader in integrated risk and compliance management software, introduces its new AI-focused content library designed to help organizations address the rapidly evolving landscape of Artificial Intelligence (AI) regulations and frameworks. As AI technologies become part of daily operations, many organizations find themselves entering uncharted waters regarding effective AI governance. According to Forrester’s September 2023 Artificial Intelligence Pulse Survey, 56% of AI decision-makers said their organization will use generative AI (genAI) in the next 12 months for internal or customer-facing production applications for employee productivity. The stakes are rising, and navigating these challenges without a clear framework can feel overwhelming, leaving companies vulnerable to risks. NAVEX plays a critical role by enabling companies to implement strong controls, automate workflows, and perform comprehensive testing. This approach simplifies complex challenges and transforms them into strategic opportunities. NAVEX’s content library is continuously curated to cover international and industry-specific AI regulations, including emerging standards and compliance requirements. By leveraging this resource, customers can ensure their AI initiatives align with ethical guidelines and regulatory mandates. A.G. Lambert, Chief Product Officer at NAVEX, captures the pivotal moment many organizations face: "As AI technologies revolutionize industries, companies find themselves standing at a crossroads, navigating the intricate landscape of effective AI governance. Our AI content not only empowers risk management professionals to establish crucial controls but also enhances efficiency by automating compliance processes. This dual approach enables organizations to embrace AI technology with confidence, transforming challenges into opportunities for growth and innovation." Key features of the NAVEX AI content library include: Centralized AI Regulatory Resources: Access a consolidated library of global AI regulations and industry-specific guidelines. Streamlined Control Development: Simplify the process of creating and implementing AI-specific controls to align with emerging regulations. Automated Compliance Monitoring: Leverage automation to track compliance requirements and ensure adherence through continuous control testing. Enhanced Risk Mitigation: Identify and mitigate AI-related risks proactively using structured regulatory frameworks. Future-Proof Compliance Strategy: Stay ahead of evolving AI laws and standards, ensuring the organization remains compliant and competitive. NAVEX is enhancing AI governance with its NAVEX One platform that streamlines the process of developing and distributing AI-related policies, ensuring companies stay aligned with fast-changing compliance requirements in the AI landscape. Should employees or third parties have AI-related issues or concerns, the NAVEX One platform offers employees a secure solution to report them. This proactive approach helps organizations identify and mitigate potential risks early on. The NAVEX content library offers over 400 regulations and compliance frameworks, continuously expanding to meet the demands of an evolving regulatory environment. This extensive resource includes critical AI regulations such as the EU AI Act, NIST AI Risk Management Framework, and the Colorado Artificial Intelligence Act. As AI governance becomes increasingly critical, NAVEX integrates AI training, incident management, and policy management into this comprehensive resource, ensuring organizations stay ahead of compliance requirements. With real-time updates, businesses can select tailored content to meet emerging AI regulatory standards, providing the tools to navigate current and future compliance challenges effectively. This seamless integration helps organizations maintain a proactive risk and compliance posture while leveraging cutting-edge technologies. The new AI content library is now available as part of NAVEX’s Integrated Risk Management solution. For more information, visit NAVEX’s Website. NAVEX is trusted by thousands of customers worldwide to help them achieve the business outcomes that matter most. As the global leader in integrated risk and compliance management software and services, we deliver solutions through the NAVEX One platform, the industry’s most comprehensive governance, risk and compliance (GRC) information system. For more information, visit NAVEX.com and our blog. Follow us on Twitter and LinkedIn. Contact Details Navex Global +1 617-388-5773 scott.levesque@navex.com Company Website https://navex.com

October 08, 2024 08:00 AM Eastern Daylight Time

Copper Property CTL Pass Through Trust Issues Monthly Reporting Package for September 2024

Copper Property CTL Pass Through Trust

Copper Property CTL Pass Through Trust (“the Trust”) has filed a Form 8-K containing its monthly report for the period ended September 30, 2024. An aggregate total distribution of $19.6 million or $0.260844 per trust certificate will be paid on October 10, 2024, to certificateholders of record as of October 9, 2024. Additional information, including the Trust’s Monthly and Quarterly Reports, as well as other filings with the Securities and Exchange Commission (“SEC”) can be accessed via the Trust’s website at www.ctltrust.net. About Copper Property CTL Pass Through Trust Copper Property CTL Pass Through Trust (the “Trust”) was established to acquire 160 retail properties and 6 warehouse distribution centers (the “Properties”) from J.C. Penney as part of its Chapter 11 plan of reorganization. The Trust’s operations consist solely of owning, leasing and selling the Properties. The Trust’s objective is to sell the Properties to third-party purchasers as promptly as practicable. The Trustee of the trust is GLAS Trust Company LLC. The Trust is externally managed by an affiliate of Hilco Real Estate LLC. The Trust is intended to be treated, for tax purposes, as a liquidating trust within the meaning of United States Treasury Regulation Section 301.7701-4(d). For more information, please visit https://www.ctltrust.net/. Forward Looking Statement This news release contains certain “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “our vision,” “plan,” “potential,” “preliminary,” “predict,” “should,” “will,” or “would” or the negative thereof or other variations thereof or comparable terminology and include, but are not limited to, the Trust’s expectations or beliefs concerning future events and stock price performance. The Trust has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Trust believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These factors, including those discussed in the Trust’s Registration Statement on Form 10 filed with the Securities and Exchange Commission (the “SEC”), may cause its actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Trust’s filings with the SEC that are available at www.sec.gov. The Trust cautions you that the list of important factors included in the Trust’s SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this news release may not in fact occur. The Trust undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Contact Details Jessica Cummins - Investor Relations +1 847-313-4755 jcummins@hilcoglobal.com Company Website https://ctltrust.net/about/default.aspx

October 07, 2024 04:15 PM Eastern Daylight Time

Copper Property CTL Pass Through Trust Releases Q2-2024 Penney Intermediate Holdings LLC Financial Statements and Master Lease Store Performance Disclosures

Copper Property CTL Pass Through Trust

Copper Property CTL Pass Through Trust (“the Trust”) has filed a Form 8-K containing the Q2-2024 consolidated financial statements of Penney Intermediate Holdings LLC for the three months ended August 3, 2024 and July 29, 2023, respectively, and related Master Lease store performance disclosures. Additional information, including the Trust’s Monthly and Quarterly Reports, as well as other filings with the Securities and Exchange Commission (“SEC”) can be accessed via the Trust’s website at www.ctltrust.net. About Copper Property CTL Pass Through Trust Copper Property CTL Pass Through Trust (the “Trust”) was established to acquire 160 retail properties and 6 warehouse distribution centers (the “Properties”) from J.C. Penney as part of its Chapter 11 plan of reorganization. The Trust’s operations consist solely of owning, leasing and selling the Properties. The Trust’s objective is to sell the Properties to third-party purchasers as promptly as practicable. The Trustee of the trust is GLAS Trust Company LLC. The Trust is externally managed by an affiliate of Hilco Real Estate LLC. The Trust is intended to be treated, for tax purposes, as a liquidating trust within the meaning of United States Treasury Regulation Section 301.7701-4(d). For more information, please visit https://www.ctltrust.net/. Forward Looking Statement This news release contains certain “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “our vision,” “plan,” “potential,” “preliminary,” “predict,” “should,” “will,” or “would” or the negative thereof or other variations thereof or comparable terminology and include, but are not limited to, the Trust’s expectations or beliefs concerning future events and stock price performance. The Trust has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Trust believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These factors, including those discussed in the Trust’s Registration Statement on Form 10 filed with the Securities and Exchange Commission (the “SEC”), may cause its actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Trust’s filings with the SEC that are available at www.sec.gov. The Trust cautions you that the list of important factors included in the Trust’s SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this news release may not in fact occur. The Trust undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Contact Details Jessica Cummins +1 847-313-4755 jcummins@hilcoglobal.com Company Website https://ctltrust.net/about/default.aspx

September 27, 2024 04:15 PM Eastern Daylight Time

Join Benchmark International's Exclusive Webinar "Seller Motivation: What Goes Into the Decision to Sell?"

Benchmark International

Are you considering selling your business? Deciding when and why to sell is one of the most significant decisions you’ll ever make as a business owner. While maximizing financial proceeds is often at the forefront of these decisions, it’s essential to recognize that it’s not the only factor. Life circumstances, time with family, and other qualitative considerations can often outweigh financial gain. To help you navigate this complex process, we invite you to join our upcoming webinar: Seller Motivation: What Goes Into The Decision To Sell? Space is filling up fast, so register today! Why You Should Register Selling a business is about more than just crunching the numbers. In this exclusive webinar, you’ll gain valuable insights into the full spectrum of motivations that drive business owners to sell. Understanding these motivations can help you make a well-rounded and informed decision about your business’s future. This webinar is a must-attend for business owners contemplating the sale of their business, particularly in today’s strong but disciplined market. By attending, you’ll be better equipped to evaluate both the financial and personal factors that play a crucial role in this life-changing decision. Whether you’re focused on securing a comfortable financial future or prioritizing time with loved ones, the information presented will help you weigh these considerations effectively. Spots are limited, so don’t miss this opportunity to secure your spot. What You’ll Learn This webinar offers actionable insights into the decision-making process for business owners. Here’s what you can expect to learn: The wide range of reasons why business owners choose to sell, beyond just financial incentives How personal life events, such as family needs and future aspirations, can influence your decision A look at the current M&A market and how buyers are approaching valuations How to balance personal and financial goals using the concept of indifference curves, which help weigh non-monetary values like time with family against financial returns By attending, you’ll gain the tools to make a decision that aligns with your long-term vision—both personally and financially. Spots Are Filling Fast – Register Now! If you’re ready to gain clarity on your motivations for selling and align your decision with both your personal and financial goals, this is the webinar for you. Don’t miss out—register now and take the first step toward making a well-informed, strategic decision about the future of your business. ABOUT BENCHMARK INTERNATIONAL: Benchmark International is a global M&A firm that provides business owners with creative, value-maximizing solutions for growing and exiting their businesses. Benchmark International has handled over $11 billion in transaction value across various industries from offices across the world. With decades of M&A experience, Benchmark International’s transaction teams have assisted business owners with achieving their objectives and ensuring the continued growth of their businesses. The firm has also been named the Investment Banking Firm of the Year by The M&A Advisor and the Global M&A Network as well as the #1 Sell-side Exclusive Privately-held M&A Advisor in the World by Pitchbook and Refinitiv's Global League Tables. Contact Details Brittney Zoeller +1 813-898-2350 zoeller@benchmarkintl.com Company Website https://www.benchmarkintl.com/

September 16, 2024 09:54 AM Eastern Daylight Time

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Flash Transforms Parking at Denver International Airport

Flash

Flash, the leading end-to-end parking technology platform, announced today it has completed an overhaul of public and employee parking at Denver International Airport (DEN) through a contract the City and County of Denver awarded in August 2024. In just 22 days, Flash deployed its platform across the airport’s nine public and employee parking garages and lots, bringing a state-of-the-art parking experience to DEN’s 40,000 employees and the 77.8 million passengers they serve annually. "Flash’s commitment to DEN has been tremendous and we look forward to a bright future that provides innovative solutions to improve the customer experience," said Mark Nagel, Senior Vice President of Parking and Commercial Transportation, Denver International Airport. In its first few weeks of deployment, DEN reports improved traffic flow and reduced wait times for vehicles entering and exiting the airport’s parking facilities. DEN’s deployment of Flash’s platform spans 144 lanes and features 137 kiosks, 97 license plate recognition (LPR) lanes, and 49 automatic vehicle identification (AVI) lanes. With the new AVI lanes, employees can enter and exit automatically in seconds via vehicle-mounted passes that require no interaction with their phones or kiosks. “DEN is the sixth busiest airport in the world and sees millions of parking transactions each year, requiring the highest service level,” said Flash CEO Dan Sharplin. “Our technology breadth and industry-leading scale, plus our maniacal focus on the driver experience, made us confident we could support DEN’s traffic volumes and service levels while getting passengers and employees through parking transactions quickly, and it’s hugely gratifying to see it live.” DEN also benefits from the Flash platform’s design as an enhanced cloud-based parking solution. In the event of an internet, payment processor, network or cloud disruption, the platform maintains continuous operations and critical payment processing capabilities so the airport’s parking facilities stay up and running. About Flash Flash is a pioneering technology company bringing seamless parking and EV charging experiences to drivers through a first-of-its-kind digital ecosystem. Flash’s platform connects reservable parking and charging in the apps drivers use every day with garage, surface lot, event, and valet parking locations—connected and controlled via a cloud-based operating system with unrivaled intelligence. Customer-obsessed brands partner with Flash to deliver digital, easy-to-use, reliable, and increasingly frictionless experiences to drivers eager to pay for a solution that eliminates wasted time, excess emissions, and stress. The solution has arrived.. Visit www.flashparking.com to learn more. Contact Details Ray Young +1 512-694-6097 ray@razorsharppr.com Company Website https://www.flashparking.com/

September 12, 2024 09:00 AM Central Daylight Time

With The Effective End Of The 6% Real Estate Commission Standard, reAlpha’s AI-Powered Homebuying Platform Hopes To Shake Up The Industry

Benzinga

By Meg Flippin, Benzinga The 6% commission standard on real estate deals is expected to be no more, potentially lowering the cost of owning a home. The change is part of a $418 million class-action lawsuit settlement against the National Association of Realtors (NAR), which was accused of inflating the fees paid to real estate agents. Thanks to the settlement, the commission is up for negotiation, which some estimate could result in a 25% to 50% decrease in commission fees that just last year cost Americans $100 billion. This change to the real estate market could also help pave the way for companies providing buyers with tools to streamline the homebuying process, such as reAlpha Tech Corp. (NASDAQ: AIRE). The Dublin, Ohio real estate technology company says it is experiencing strong growth thanks to the launch of its artificial intelligence (AI)-powered, commission-free home buying platform. Buying A Home Can Be Much Easier reAlpha’s AI platform guides users through every stage of the homebuying process and is currently available in 20 Florida counties, with plans for expansion. The platform leverages AI to help customers find homes, make an offer, get a mortgage and close the deal. With reAlpha, users pay zero buy-side commissions, and the company plans to make money by collecting closing costs of 1.2% to 2.47% via mortgage brokering, title and search and home insurance services. reAlpha’s launch comes as the AI market is taking off, forecast to grow to $1.8 trillion by 2030. Advances in machine learning and automation are enabling tech-focused companies to develop AI models that are disrupting many industries. Real estate could also use some innovation, and reAlpha is attempting to capitalize on that, hoping to disrupt the way Robinhood Markets Inc. (NASDAQ: HOOD) did with online investing or Expedia Group Inc. (NASDAQ: EXPE) did for travel. Growing Revenue For Q2 this year, reAlpha reported quarter-over-quarter revenue that rose 205%. The company also closed its buy of Naamche, Inc., a Nepal-based AI technology firm. This acquisition bolstered reAlpha's AI capabilities by adding 42 engineers, developers, analysts and UI/UX designers to its team, increasing the company’s full-time employee count from 15 to 57. reAlpha said the acquisition marks the beginning of the company’s acquisition-led growth strategy, which it said aims to revolutionize the real estate industry through cutting-edge technology. More To Come "We believe that the completion of the Naamche acquisition marked the second quarter of 2024 as the beginning of the ramp-up of our acquisition-led growth strategy," said Giri Devanur, CEO of reAlpha. "We are continuously looking for strategic acquisition opportunities that will advance our mission of bringing innovative technologies to the real estate industry. Naamche's acquisition is one of the early steps in this process." Other acquisitions include AiChat, a Singapore-based company that develops AI-powered conversational customer experience solutions and Hyperfast Title LLC., a title company that’s licensed to operate in Florida, Virginia and Tennessee. With it, reAlpha can offer title services through its platform. Now, reAlpha has added another key piece to its portfolio with the acquisition of Be My Neighbor, a mortgage broker licensed in 26 U.S. states. The company says this acquisition strengthens reAlpha’s AI-powered homebuying platform by incorporating mortgage lending and refinancing services, allowing for a more integrated and seamless customer experience. Be My Neighbor, founded by veterans, will continue to operate under its own brand while leveraging reAlpha's generative AI capabilities. This move is part of reAlpha's broader strategy to vertically integrate the homebuying process, which it says should enhance its commission-free platform and unlock new revenue streams. Looking toward the third quarter, reAlpha is forecasting quarter-over-quarter revenue growth of 140% to 170% in Q3, driven by the integration of its newly acquired companies, AiChat and Hyperfast Title. reAlpha said these acquisitions are expected to enhance its service offerings and contribute significantly to its overall revenue. Taking A Page From Constellation Software reAlpha is only just getting started. The company says it is on the hunt for even more acquisitions as it grows, taking a page from Constellation Software (TSX: CSU ), a Canadian software and services company that has a reputation for acquiring hundreds of software businesses. reAlpha says it hopes to position itself as a trailblazer in the real estate technology sector by strategically acquiring accretive real estate service and technology companies centered around its core platform. “We intend to capitalize on a significant industry shakeup created by the NAR lawsuit. We developed and launched the reAlpha platform after the settlement was announced on March 15, 2024. We are focused on continually improving the product and acquiring additional real estate service companies to unlock more potential sources of revenue,” said Devanur. “We look forward to sharing our growth and developments in the coming quarters, especially after the effects of the NAR settlement take effect on August 17, 2024,” he said. New CFO reAlpha recently announced the appointment of Brent Miller as their new Chief Financial Officer (CFO). Miller, who officially took on the role on Aug. 19, 2024, will be responsible for all financial and accounting operations at reAlpha, reporting directly to the company's president and Chief Operating Officer, Mike Logozzo. Notably, Miller brings valuable experience from his previous role as CFO and treasurer at KKR Real Estate Finance Trust Inc., a commercial mortgage real estate investment trust. During his time there, Miller played a key role in shaping the REIT’s financial strategy, including capital raising and financial reporting. His background with KKR underscores his expertise and makes his appointment at reAlpha a significant development for the company. Featured photo courtesy of reAlpha Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

September 12, 2024 08:25 AM Eastern Daylight Time

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