VC Firm Camber Creek Closes $155 Million Fund III for Investment in Real Estate Technology

Oversubscribed Fund Validates Firm’s Investment Strategy and Underscores Demand for Technology to Drive Innovation

Camber Creek, a venture capital firm focused on investing in and scaling early and growth stage companies that are transforming the real estate industry, announced that it closed an oversubscribed third fund with capital commitments of $155 million. Founded in 2011, Camber Creek has more than $250 million in assets under management and notable investments in leading proptech companies such as Notarize, VTS, Latch, Bowery Valuation, Measurabl, Funnel, Compstak, Curbio, Fundrise, WhyHotel, Building Engines, Rabbet, TaskEasy, Latista (acquired by Oracle), RedIQ (acquired by Berkadia), Vedero (acquired by Murata), Canvas (acquired by K1 investments) and ClearEdge3D (acquired by Topcon).

“We are excited about the recent close, made possible by the strength and growth of Camber Creek’s institutional platform. We plan to harness this opportunity to continue our proven strategy and hands-on approach to investing in proptech companies,”

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HUD Grants Fund Housing Counseling and Foreclosure Avoidance Services

The U.S. Department of Housing and Urban Development (HUD) announced that more than $12.5 million in grant funds will directly support quality housing counseling services.

The grants, which were awarded earlier this week, will go to 219 local housing counseling agencies and national and regional organizations as well as state housing finance agencies (SHFAs) who have been approved by HUD. These entities all competed for HUD’s FY 2020 Supplemental Comprehensive Housing Counseling Grant Notice of Funds Availability (NOFA) or HUD’s FY 2019/2020 Comprehensive Housing Counseling NOFA. 

The counseling agencies aim to help Americans trying to get back on track from the economic challenges caused by COVID-19.

“Our hope is that those affected by the pandemic who need housing help will reach out to qualified housing counseling professionals to help them understand what their options are,” Assistant Secretary for Housing and Federal Housing Commissioner Dana Wade said in the announcement.

The

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Hedge Fund Magnate Is Moving His $41 Billion Firm From N.Y. to Florida

While its New York office will remain open, Elliott is also setting up a new office in Greenwich, Conn., the wealthy enclave northeast of the city. The new offices in Florida and Connecticut are expected to open before next July, the earliest date its employees could return to the office, the person said.

“It’s certainly not a positive signal,” said E.J. McMahon, an adjunct fellow at the Manhattan Institute, a conservative think tank that Mr. Singer has chaired since 2008. Mr. McMahon described the city’s tax base as “enormous but also fragile.”

For wealthy taxpayers, moving to Florida can provide a significant windfall.

Unlike New York State, Florida has no individual income tax, estate tax or capital gains tax, which the state has promoted in a concerted effort to recruit financial firms from New York.

Still, Ben Friedland, a New York real estate broker who specializes in hedge funds and

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Paul Singer’s $41 Billion Hedge Fund Moving Headquarters to Florida

(Bloomberg) — Florida is luring its biggest name yet in hedge funds: Paul Singer’s Elliott Management Corp.

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The $41 billion firm plans to move its headquarters to West Palm Beach from Midtown Manhattan, according to people familiar with the matter, joining a growing list of funds that have relocated to the Sunshine State.

With no individual income taxes, estate taxes or capital gains taxes, Florida has become a hot destination for hedge funds in recent years. The Covid-19 pandemic has accelerated that shift away from New York, the initial epicenter of the U.S. outbreak.

Singer’s co-chief investment officer and expected successor, Jon Pollock, owns a home near West Palm Beach and has been living there during the pandemic, said the people, who asked not to be identified because the information is private. The now-permanent move by Pollock, as well as several other senior employees, played a big role

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Ontario pension fund hunts for new London property deals

London’s commercial property market still ranks as one of the most attractive in the world, says the head of one of Canada’s largest pension funds which is looking for new UK real estate deals. 

Blake Hutcheson, chief executive of Ontario Municipal Employees Retirement System (Omers), said the fund, which owns UK investments worth C$10bn (£5.8bn), intends to “buy more” real estate in London.

“We believe in the UK. London is still one of the top five or six cities in the world to invest in for real estate. It will be one of the very best markets over the long-term,” he said. “We have made more money investing in London than any other city in the world. Nothing about Brexit will change our posture.”

Mr Hutcheson was appointed chief executive in June. Omers oversees C$109bn on behalf of more than half a million pension savers across Ontario. 

Many offices across

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Broadstone Real Estate Access Fund adds allocations to Goldman Sachs and New York Life sponsored Funds

Broadstone Real Estate Access Fund (“BDREX”), a continuously offered, closed-end interval fund, registered under the Investment Company Act of 1940, announced today it added two institutional core real estate funds sponsored by Goldman Sachs and New York Life to its portfolio. This expands BDREX’s private fund holdings to a total of 10 which also include funds sponsored by USAA, CBRE and Clarion. BDREX is managed by Benefit Street Partners, L.L.C. (“BSP”).

“We are extremely excited to add these two, high-quality, core real estate funds to the BDREX portfolio,” stated Brian Buffone, Benefit Street Partners Managing Director and BDREX Portfolio Manager. “We will continue to strive to give our investors access to large, private institutional funds that have historically been limited to pension funds, endowments and sovereign wealth groups, and we hope to make additional investments like this in the near future.”

For the most recent holdings information, please visit the

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Ventas Life Science and Healthcare Real Estate Fund Acquires Trophy Life Science Portfolio in South San Francisco for $1.0 Billion


Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) today announced that the Ventas Life Science and Healthcare Real Estate Fund, L.P. (the “Fund”) has acquired a trophy life science portfolio in the premier South San Francisco life science cluster for $1.0 billion. Ventas is the Sponsor and General Partner of the Fund, which is a perpetual life vehicle focused on investments in core and core plus life science, medical office and senior housing real estate in North America.


“We are pleased to further expand our growing research & innovation footprint into the premier South San Francisco life science cluster with the acquisition of this outstanding lab portfolio,” said Debra A. Cafaro, Ventas Chairman and Chief Executive Officer. “Strong and growing capital flows into the life science sector are accelerating innovation and discovery. These flows support the demand for first class lab space in dynamic markets like South San

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BioMed valued at $14.6 billion in deal for sale from one Blackstone fund to another



The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange


© Reuters/Brendan McDermid
The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange


(Reuters) – Blackstone Real Estate Partners and co-investors have agreed to sell BioMed Realty for $14.6 billion to a group led by existing BioMed investors, Blackstone Group Inc said on Thursday.

Blackstone had agreed to buy BioMed Realty, a supplier of office space to healthcare companies, in late 2015 in a deal valued at $8 billion. (https://reut.rs/341V5a3)

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Blackstone said on Thursday it is commencing a “go-shop” process on behalf of BioMed’s current investors, with the recapitalization expected to close within five business days after the process concludes.

(Reporting by Kanishka

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Waimate contractor steps up to fund all-weather helipad for town

Volunteers working on the new helipad in Waimate are, from left, firefighter and builder Brad Keen, contractor Ian Leathwick who has funded the $20,000 project, Waimate deputy fire chief Roger Bell and Waimate fire chief Duncan Lyall.

Bejon Haswell/Stuff

Volunteers working on the new helipad in Waimate are, from left, firefighter and builder Brad Keen, contractor Ian Leathwick who has funded the $20,000 project, Waimate deputy fire chief Roger Bell and Waimate fire chief Duncan Lyall.

An empty section behind the Waimate fire station is being turned into a $20,000 all weather 24/7 helipad thanks to the generosity of a contractor and volunteers.

Senior firefighter and St John volunteer David Shea said the fire crew often joked about what they could use the unused lawn space for.

He said the fire crew has been responsible for creating a temporary landing site every time the emergency helicopter arrived, often landing in school grounds, parks or the A&P Showgrounds.

“The spaces are on unsatisfactory surfaces and we’ve had to carry patients over rocks and shingle,” Shea said.

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* Precious rescue minutes saved with new hospital helipad in

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Harvard fund evades justice in land-grabbing case over Cerrado farm

  • In September, the court in Brazil’s Bahia state ruled that a company in which Harvard University’s endowment fund was invested had illegally acquired the land for a large farm in the Cerrado grasslands.
  • The Gleba Campo Largo farm, spanning 140,000 hectares (346,000 acres), has for years been the focus of violent land disputes.
  • The farm’s registered owner is Caracol Agropecuária Ltda., a company that the Harvard Management Company is believed to have poured an estimated $59 million into over the course of about a decade.
  • The Harvard Management Company, which fully divested from Caracol in June 2019, told Mongabay it “does not have and has never had any ties to Caracol.”

On Sept. 8, a court ruling shook up an old land conflict in Cotegipe, in the Brazilian Cerrado grasslands. That was when the 3rd Civil Chamber of the Bahia state Court of Justice ruled that Caracol Agropecuária Ltda., a

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