MReport June 2021

TheMReport — News and strategies for the evolving mortgage marketplace.

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8 | M R EP O RT MTECH industry, we will continue to fo- cus on creating shareholder value across all cycles and extending our history of profitable growth." SFR Venture Focuses on West ATLAS REAL ESTATE AND DIVCOWEST FORM PARTNERSHIP. A tlas Real Estate has entered into a joint venture partnership with DivcoWest to invest $250 million of equity in single-family homes as rentals throughout the Western U.S. The joint venture expects to deploy $1 billion acquiring and renovating homes in areas where Atlas currently manages more than 4,200 units, including Colorado, Arizona, Idaho, Nevada, and Utah. "DivcoWest's partnership with Atlas is a testament to our decade-plus history as an acquisition partner and the long-standing relationships we have cultivated with institutional investors since our inception," said Ryan Boykin, Co-Founder of Atlas Real Estate. "The start of this new joint venture also points to the strength of the SFR housing sector and to the full-service real estate investment platform Atlas has created." Founded in 2013, Atlas Real Estate specializes in investment brokerage, property management, and institutional acquisition. Established in 1993, DivcoWest is a multidisciplinary investment firm headquartered in San Francisco. "The new partnership between Atlas and DivcoWest enables us to live up to our mission as a company: 'To Uplift Humanity Through Real Estate,'" said Tony Julianelle, CEO of Atlas Real Estate. "The joint venture will function to increase the inventory of single-family rentals in Atlas- managed markets, presenting a tangible opportunity to serve people and create a positive resident experience, while helping meet the supply demands by providing high-quality housing." Blazing New Career Paths NAR ANNOUNCES NEW MENTORSHIP PROGRAM. T he National Association of Realtors (NAR) has announced the launch of a mentorship initiative designed to help budding professionals in underserved areas thrive in a real estate career. The program, "NAR Spire," will match Realtors with mentees from historically marginal- ized communities with the goal of eliminating barriers that have denied opportunities for home- ownership and kept people out of America's real estate industry. "So many Realtors have at some point had a mentor step into our lives, invest in our careers, and shape our success as professionals," said NAR President Charlie Oppler, CEO of Prominent Properties Sotheby's International. "Now, we want experienced NAR members to pay those advantages forward to the individuals who will shape U.S. real estate in the decades ahead." NAR Spire is being launched in nine pilot regions across the U.S.: Chicago; Memphis; Raleigh and Durham, North Carolina; Rochester, New York.; Trenton, New Jersey; Seattle; Washington, D.C.; and the state of Maryland. Mentees will receive expo- sure designed to go beyond the traditional day-to-day business operations in real estate, includ- ing marketing, appraisal, IT, and financing guidance, along with live educational events, one-on- one mentorship meetings, and a tailored online platform. NAR CEO Bob Goldberg said, "We've reached beyond NAR's walls to collaborate with partners across a number of industries, and we're confident this program will help Realtors enhance their reputation as invested, engaged and integral members of every U.S. community." "So many Realtors have at some point had a mentor step into our lives, invest in our careers, and shape our success as professionals." —Charlie Oppler, President, NAR

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