Zillow and Truila Finally Merge, Form Zillow Group

After a exhaustive seven-month anti-trust review by regulators, the Zillow-Truila merger was finalized on February 17.   Zillow negotiated a $2.5 billion stock/swap merger and formed the Zillow Group that now includes Zillow, Truila, StreetEasy and HotPads. This merger created the largest online sales and rental market for residential property.

This is a pivotal day in online real estate and we couldn’t be more excited to welcome Trulia to Zillow Group,”   Spencer Rascoff, Zillow Group’s CEO, said about the acquisition. “Each of our brands share a consumer-first philosophy, and our powerful combination of insights and expertise will drive even greater innovation for consumers, empowering them with essential information they need to make critical financial decisions. Our combination will also enable real estate professionals to more efficiently and easily reach the nation’s largest audience of engaged buyers, sellers and homeowners, and extract even more value from their advertising.”

Paul Levine, previously Trulia’s chief operating officer, will now work as the pre

chicagoagentmagazine.com/zillow-trulia-deal-complete-whats-move-inc-s-next-move/#sthash.kmv0jgSI.dpuf

This is a pivotal day in online real estate and we couldn’t be more excited to welcome Trulia to Zillow Group,”   Spencer Rascoff, Zillow Group’s CEO, said about the acquisition. “Each of our brands share a consumer-first philosophy, and our powerful combination of insights and expertise will drive even greater innovation for consumers, empowering them with essential information they need to make critical financial decisions. Our combination will also enable real estate professionals to more efficiently and easily reach the nation’s largest audience of engaged buyers, sellers and homeowners, and extract even more value from their advertising.”

Paul Levine, previously Trulia’s chief operating officer, will now work as the pre

chicagoagentmagazine.com/zillow-trulia-deal-complete-whats-move-inc-s-next-move/#sthash.kmv0jgSI.dpuf

This is a pivotal day in online real estate and we couldn’t be more excited to welcome Trulia to Zillow Group,”   Spencer Rascoff, Zillow Group’s CEO, said about the acquisition. “Each of our brands share a consumer-first philosophy, and our powerful combination of insights and expertise will drive even greater innovation for consumers, empowering them with essential information they need to make critical financial decisions. Our combination will also enable real estate professionals to more efficiently and easily reach the nation’s largest audience of engaged buyers, sellers and homeowners, and extract even more value from their advertising.”

Paul Levine, previously Trulia’s chief operating officer, will now work as the pre

chicagoagentmagazine.com/zillow-trulia-deal-complete-whats-move-inc-s-next-move/#sthash.kmv0jgSI.dpuf

This is a pivotal day in online real estate and we couldn’t be more excited to welcome Trulia to Zillow Group,”   Spencer Rascoff, Zillow Group’s CEO, said about the acquisition. “Each of our brands share a consumer-first philosophy, and our powerful combination of insights and expertise will drive even greater innovation for consumers, empowering them with essential information they need to make critical financial decisions. Our combination will also enable real estate professionals to more efficiently and easily reach the nation’s largest audience of engaged buyers, sellers and homeowners, and extract even more value from their advertising.”

Paul Levine, previously Trulia’s chief operating officer, will now work as the pre

chicagoagentmagazine.com/zillow-trulia-deal-complete-whats-move-inc-s-next-move/#sthash.kmv0jgSI.dpuf

According to Chicago Agent Magazine. the finalization was a pivotal day in online real estate and we couldn’t be more excited to welcome Trulia to Zillow Group,” as Spencer Rascoff, Zillow Group’s CEO, said about the acquisition. “Each of our brands share a consumer-first philosophy, and our powerful combination of insights and expertise will drive even greater innovation for consumers, empowering them with essential information they need to make critical financial decisions. Our combination will also enable real estate professionals to more efficiently and easily reach the nation’s largest audience of engaged buyers, sellers and homeowners, and extract even more value from their advertising.”

Zillow Groups largest competitor is Move, Inc who operates NARs realtor.com .  Move is owned by News Corp (NASDAQ:NWSA ), but is operated by the National Association of Realtors.  On Tuesday, Move said in a statement on the Zillow-Trulia deal that Zillows year of the merge will be Realtor.coms year of the surge. As our competitor grapples with the challenges of integrating two very similar businesses, Realtor.com will continue to provide the most accurate and up-to-date property listings in America, as well as the most valuable professional tools for brokers and agents.

The multifamily / apartment listings on the platforms mentioned above are give it the commercial angle that makes this long-awaited mega-merger worth watching.

13. March 2015 by Wayne Grohl

Independent Living Facilities: How They Fit Into The Boom

I was reviewing the various names our industry has used to describe the senior living property sector when I noticed that one appears to be picking up steam: independent living facilities.

The definition of independent living refers to more than facility type it means a perspective on care that does encompass elderly care without stopping there.

The Shifting Definitions

As seen by its  advocates. is a  philosophy. a way of looking at  disability  and  society. and a worldwide movement of people with disabilities working for  self-determination ,  self-respect  and  equal opportunities. In the context of  eldercare. independent living is seen as a step in the continuum of care, with  assisted living  being the next step.

The term has different applications as well.  In the very useful glossary at SeniorHousingNet.Com. independent living is characterized two ways first as Multi-unit senior housing development that may provide supportive services such as meals, housekeeping, social activities, and transportation (Congregate Housing, Supportive Housing, Retirement Community). Independent Living typically encourages socialization by provision of meals in a central dining area and scheduled social programs.

Yet within the very same definition, we find that independent living can also be used to describe housing with few or no services (Senior Apartment)

With a spread of definitions that broad, the appropriate terminology needs a much closer look before a pro forma is drafted for prospective investors.   And as with so many other commercial real estate specialties, state regulation looms very large in making these definitions stick (or not).

ALFA and state regulation

The Assisted Living Facility Association (ALFA) is very active in all the areas one might expect a national trade association to be, including providing regulatory resources that spell out guidelines, licensing terms and answers on a state by state basis.

Improved residential markets means getting rent payments cash out of home equity is getting easier 

According to Marcus & Millichaps latest report on the sector one thing driving a great deal of growth in independent living facilities is the access to equity in their homes by seniors. A rejuvenated residential market has re-opened the pathways to obtaining the rents late in life that drive the independent living market sector.  As Paul Bubny at GlobeSt says:

[. ], the pipeline is filling up for  independent living facilities. with MMI predicting that new construction will add 2.4% to the existing stock. Thanks to an improving residential market enabling seniors to unlock equity in their homes, MMI says IL occupancy is expected to rise 50 bps to 92.3% by year’s end, while average rents advance 3.1% to $2,923 per month.