REAL ESTATE BRIEFS AUG. 6

NAR tabs Nevada Realtors to serve in leadership roles

The National Association of Realtors recently named four Nevada Realtors leaders to serve as NAR committee chair and vice-chairs for 2023.

They include Linda Rheinberger, who served as NVR president in 2010 and as the Region XI regional vice president in 2015. Rheinberger, a longtime Las Vegas Realtor, was selected as chairwoman for NAR’s Meeting and Conference Committee. The 2023 NAR annual conference is scheduled to be held in Las Vegas in the fall of 2023.

Additionally, 2022 NVR Vice President Trevor Smith, of Incline Village, was named 2023 vice-chair for NAR’s Resort and Second Home Real Estate Committee.

Brandon Roberts, 2022 president of Las Vegas Realtors, was appointed as 2023 vice-chair for NAR’s Idea Exchange Council for Brokers.

On the commercial real estate front, Angelina Scarcelli, 2022 president of the Commercial Alliance Las Vegas, was named 2023 vice- chair for NAR’s Property Management Forum.

“Our association is very proud of this news,” NVR CEO Teresa McKee said. “To see Nevada honored with this representation means our great state has hard-working, knowledgeable people invested in the business of promoting the Realtor cause, and that it is being recognized at the national level.”

Tri Pointe unveils LivingSmart program advancements

Tri Pointe Homes, one of the largest homebuilders in the United States and a leader in green building for more than 20 years, has announced advancements in LivingSmart, the company’s comprehensive program involving the development, construction and ongoing operation of high-performing homes that offer cost-savings and a better environment for those who reside in them.

Tri Pointe Homes’ ongoing commitment to evolve LivingSmart begins with research efforts to assess trending consumer demands. The company therefore engaged an independent consumer research and data consultancy to evaluate LivingSmart across each of the program’s five specific areas: HealthSmart, EnergySmart, EarthSmart, WaterSmart and HomeSmart.

The national survey led to the following key findings:

■ 75 percent (3 out of 4) of home shoppers stated they are “considerably/somewhat more interested” in purchasing a Tri Pointe home after learning about LivingSmart.

■ The vast majority of respondents (86 percent) said it is “extremely/very important” that their new home encompasses energy-saving features.

■ Home shoppers rated energy-efficient HVAC equipment, the MERV 13 Air Filter for HVAC systems, tankless or high-performance water heaters, video doorbells and whole-home surge protection as the most valued.

■ 75 percent stated that they “expect/are excited” to have features that contribute to energy savings.

After analyzing the survey data, Tri Pointe evaluated its LivingSmart program to determine areas where further improvement could be made and areas where homebuyer interest is strongest.

“Unveiling our enhanced LivingSmart program across all of our homebuilding divisions demonstrates our passion for improving customers’ lives and our unwavering commitment to the legacy we all want to leave on our amazing planet,” said Kevin Wilson, national vice president of strategic sourcing and sustainability of Tri Pointe Homes. “As a customer-driven company, we are constantly seeking to advance the performance of our new homes and the quality of our homeowners’ lives through the addition of new materials, technologies and features.”

Based upon research findings, Tri Pointe Homes added eight new, standard features across its LivingSmart program. In addition to Wi-Fi door locks and Wi-Fi irrigation control, the company also is making investments in the areas noted as most important to homebuyers, namely those related to energy efficiency and indoor air quality.

As part of EnergySmart, Tri Pointe added both a dedicated and pre-wired 220-volt, 50-amp circuit for a Type 2 EV (electric vehicle) charger and whole-home surge protection, features that ranked, respectively, as the first and second highest on level of appeal.

Tri Pointe also made improvements to HealthSmart. The most notable is the addition of MERV 13 filters, which are highly rated for residential HVAC air filtration systems, and are energy efficient. According to the Environmental Protection Agency, Americans, on average, spend approximately 90 percent of their time indoors, where concentrations of some pollutants are often two to five times higher than typical outdoor concentrations. This fact becomes more relevant as Americans seek refuge indoors during extreme hot and cold outdoor temperatures — especially those with underlying cardiac or respiratory conditions. Minimum Efficiency Reporting Values, or MERV, reports a filter’s ability to capture particles. Tri Pointe Homes selected MERV 13 filters as they can filter out small particles such as viruses, lint, pet dander, mold spores, pollen, auto emissions and smoke.

“Whether related to prior pandemic lockdowns, growth in work-from-home (WFH) models, or mounting concerns surrounding environmental contaminants such as those caused by wildfires, home shoppers showed greatest interest in both indoor air quality and energy efficiency,” said Linda Mamet, chief marketing officer of Tri Pointe Homes.

Mark Wiley Group hires president

The Mark Wiley Group welcomed Buck Hujabre as president of the commercial division for MWG. Hujabre brings decades of experience to the position; he specializes in commercial real estate investment and sales. In this new role, Hujabre will support the strategic direction of the commercial division and concentrate on building a team of commercial advisers to complement the award-winning and expanding MWG team. Additionally, he will continue to serve as team leader for Keller Williams Realty Southwest.

“Buck brings a unique and non-traditional perspective to our growing executive team. His extensive commercial real estate experience will help us provide more service opportunities for our clients and the Las Vegas community,” said Mark Wiley, CEO of MWG. “As our business continues to evolve, this addition allows us to align and function together to provide a unified consumer experience for residential and commercial real estate clients.”

Hujabre’s background includes expertise in institutional quality commercial real estate investment and premium high-end luxury residential sales. He is passionate about helping business owners of all backgrounds create profitable, value-based, growth-focused businesses by maximizing the return on the most precious asset of every business owner — time.

Hujabre’s career hails from the entertainment industry before immersing himself in commercial real estate. He has successfully used his background to assist several prominent reality-based television personalities to develop a retail presence. Most recently, he’s advised several Food Network stars in establishing their presence in and around the more significant Las Vegas marketplace. Regarded as a field authority on the EB-5 Immigrant Investor Visa Program, Hujabre has vast experience in sourcing overseas investments. He is skilled in working within the complicated cultural, legal and ethical landscapes of the EB-5 process and understands the essential assets needed for unique financing methods.

Often drawn to specialized practices, Hujabre was instrumental in Nevada’s real estate marketplace transition concerning the state’s referendum and legalization of recreational cannabis. He has specialized in addressing questions related to the state and federal legal tenancy of operations, and he represented several of the largest brands that call Las Vegas home. Hujabre’s career has also included mergers, acquisitions and dispositions of several industrial buildings and the licenses associated with the cannabis industry.

In addition, Hujabre consults and is a valuable resource to many local and national landlord and ownership interest groups. He speaks several foreign languages fluently and is well-versed in the customs of business cultures worldwide.

Build-to-rent town home community under development

Haven Realty Capital in partnership with funds managed by an affiliate of Apollo Global Management Inc., has closed the first phase of a $22.8 million acquisition of a build-to-rent town home community under construction in Summerlin. The Haven-led joint venture will close on the remaining homes in phases over the next 12 months.

Thrive at Peace Way is being developed by the seller, a joint venture of Edward Homes and Avision Development Partners, on a 5-acre site at 10132 Serenity Star Way, between Flamingo Road and Tropicana Avenue. At build-out in the fall of 2022, Thrive at Peace Way will feature 12 residential buildings housing 60 two-story mid-rise town homes offering three-bedroom, 2½ bath- floor plans ranging in size from 1,541 square feet to 1,789 square feet. Each town home will have an attached two-car garage and walk-out deck. Common area amenities will include a resort-style pool and cabana.

Haven has successfully invested in Las Vegas since 2012, where it has acquired single-family rentals and multifamily properties. Thrive at Peace Way is the firm’s first build-to-rent community in the city and marks the expansion of its BTR platform into the Western U.S. One of the nation’s leading BTR owner/operators, Haven currently controls 36 BTR communities in various phases of construction and stabilization representing more than 3,700 homes located across nine states.

“The number of persons choosing to rent single-family homes over apartments is growing rapidly, especially as more build-to-rent communities come to market,” said Haven founder and managing principal Sudha Reddy. “By most estimates, only 10 percent of the multifamily inventory in the United States has three bedrooms or more.”

According to a survey from John Burns Real Estate Consulting, nearly one-half of all new single-family renters in Q3 2021 moved from apartments to seek more space in their homes.

“Apartments simply don’t address the increasing amount of family formation that we are seeing, especially for those who prefer to rent or choose not to buy at this time,” Reddy said. “BTR provides families with the ability to live in a comfortable home for as long as they choose.”

United Federal Credit Union expands

United Federal Credit Union has expanded its presence in Nevada with three new locations. United has been serving members in Nevada since 2009 with multiple branch locations in Reno, Sparks and Carson City.

In June 2022, the credit union cut the ribbon on its new loan office at 330 E. Main St. in Fernley, growing its footprint in the Reno-Sparks metropolitan area. The Fernley location is a loan production office.

United is also set to open a mortgage loan office in Henderson in September and one in Summerlin later this fall. United’s mortgage team in the Las Vegas area will help members find the best option to finance their homes as well as assist with virtual account access through United’s online and mobile banking services.

At the Fernley location, mortgage advisor Carmen Olivas is working with members. Olivas has been with United since 2013 and uses her lending experience to assist credit union members with financial counseling and product knowledge regarding real estate financing and generate quality mortgage loans. She is bilingual in English and Spanish and is ready to assist families in the Fernley area.

The Henderson office will be led by Christopher Rossberg. He has more than six years of mortgage lending experience. Rossberg has a bachelor’s degree in psychology from the University of Oregon and an MBA from the University of Phoenix.

In Summerlin, Leslie Sturdivant will lead the office. She brings more than 24 years of mortgage lending and banking experience to her new role. Sturdivant is involved with the Las Vegas Chamber and is a North Las Vegas Chamber Leadership graduate. In the community, she supports Junior Achievement and The Shade Tree Women’s Shelter.

Davlyn Investments acquires apartment community

Davlyn Investments, a prominent California-based, multifamily investment firm, recently closed escrow on the $65,500,000 purchase of Rancho Destino, a 184-unit, luxury, multifamily community. The property, which has been re-branded Aviara, was constructed in 1998 and marks Davlyn’s second acquisition in Nevada. The CBRE team of Spence Ballif, Adam Schmitt and Jannie Mongkolsakulkit represented the seller. Debt was provided by Torrey Pines Bank.

“Due to increasing business and living costs in other Western markets, the Las Vegas MSA has benefited from natural migration toward markets that offer high-quality lifestyles that are more affordable than those found on the West Coast. Its nearly 20 percent population growth since 2010 and double-digit year-over-year rent growth exemplify this fact. Bolstered by developments currently underway, notably the transformation of ‘The Curve’ a few miles south on Durango Road, the southwest valley should enjoy elevated apartment demand for years to come. Accordingly, this acquisition is consistent with our long-term investment strategy to acquire well-located, quality apartment communities in compelling markets throughout the West,” said Jon Williams, CEO of Davlyn Investments.