Appreciate Launches Operations in Memphis Market
10 Janeiro 2023 - 9:00AM
Appreciate Holdings, Inc. (“Appreciate” or the “Company”)
(
NASDAQ: SFR), the parent holding company of
Renters Warehouse (“Renters Warehouse”), a leading end-to-end
Single-Family Rental (“SFR”) marketplace and management platform,
today announced the Company’s expansion into the Memphis, Tennessee
market.
Appreciate’s entrance into the Memphis market follows the
strategic plan of the Company to support its clients with
operations in lucrative geographic locations across the country.
Appreciate launched the market with one of the Company’s
institutional clients, as investors remain focused on the higher
yielding southeastern markets. Similar to other newly launched
Company markets, Memphis offers an attractive entry point with more
than 25% of one to four unit properties renter-occupied1.
“Increasing housing affordability issues resulting from rising
mortgage rates have created a strong backdrop for the SFR asset
class and its investors,” said Appreciate President Kevin Ortner.
“As Appreciate continues its expansion as a publicly-traded
company, it is our goal to support investors, whether large or
small, through our end-to-end solution that allows them to buy,
lease, manage and sell SFR all in one place.”
As a leader in the SFR space, Appreciate utilizes its deep
industry knowledge coupled with proprietary data gathered from
executing thousands of marketplace transactions through the
Company’s end-to-end technology platform to provide its clients
with an unmatched slate of services for Memphis.
About AppreciateAppreciate, the parent holding
company of Renters Warehouse, is a leading end-to-end SFR
marketplace and management platform. The company offers a
full-service platform for investing in and managing SFR properties,
including a proprietary online marketplace and full-service
brokerage teams in over 40 markets. For more information, visit
appreciate.rent.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act and Section 21E of
the Exchange Act. Our forward-looking statements include, but are
not limited to, statements regarding our management team’s
expectations, hopes, beliefs, intentions or strategies regarding
the future. In addition, any statements that refer to projections,
forecasts or other characterizations of future events or
circumstances, including any underlying assumptions, are
forward-looking statements. The words “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intends,” “may,”
“might,” “plan,” “possible,” “become,” “potential,” “predict,”
“project,” “should,” “would,” “opportunity,” “mission,” “goal,”
“positioned” and similar expressions may identify forward-looking
statements, but the absence of these words does not mean that a
statement is not forward-looking.
The forward-looking statements contained in this press release
are based on our current expectations and beliefs concerning future
developments and their potential effects on us taking into account
information currently available to us. There can be no assurance
that future developments affecting us will be those that we have
anticipated. These forward-looking statements involve a number of
risks, uncertainties (some of which are beyond our control) or
other assumptions that may cause actual results or performance to
be materially different from those expressed or implied by these
forward-looking statements. These risks include, but are not
limited to:
- trends in the real estate industry, the real estate financing
industry, movements in interest rates and Appreciate’s market size,
including with respect to the potential total addressable market in
the industry;
- Appreciate’s growth prospects; new product and service
offerings Appreciate may introduce in the future;
- debt defaults and substantial service provider obligations and
the need for or failure to obtain additional capital;
- the price of Appreciate’s securities, including volatility
resulting from changes in the highly competitive industry in which
Appreciate operates and plans to operate, variations in performance
across competitors, changes in laws and regulations affecting
Appreciate’s business and changes in Appreciate’s capital
structure;
- the ability to implement business plans, forecasts, and other
expectations as well as identify and realize additional
opportunities;
- and other risks and uncertainties indicated from time to time
in filings made with the SEC.
These risks are not exhaustive. New risk factors emerge from
time to time and it is not possible for our management to predict
all risk factors, nor can we assess the impact of all factors on
our business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those
contained in any forward-looking statements. Should one or more of
these risks or uncertainties materialize, they could cause our
actual results to differ materially from the forward-looking
statements.
A forward-looking statement is neither a prediction nor a
guarantee of future events or circumstances, and those future
events or circumstances may not occur. We are under no obligation,
and we expressly disclaim any obligation, to update or alter any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Investor Relations Contact:Gateway Investor
RelationsCody Slach, Ralf Esper(949) 574-3860SFR@gatewayir.com
Media Relations Contact:Gateway PRZach Kadletz,
Anna Rutter(949) 574-3860SFR@gatewayir.com
1 Source: John Burns Real Estate Consulting; Published December
2022.
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