Irvine, CA – Beekin Inc. (“Beekin”), a next-generation AI platform, announced a strategic partnership with CoreVest American Finance Lender, LLC (“CoreVest”), a leading lender to residential real estate investors nationwide and a division of Redwood Trust Inc. (“Redwood”).
As part of this partnership, CoreVest will utilize Beekin’s rent models to help supplement the underwriting and due diligence process of its long-term and short-term loans. Beekin’s platform provides innovative solutions for single and multifamily investors to optimize pricing, measure social impact and maximize asset value. Redwood has also invested in Beekin through RWT Horizons, Redwood’s venture investment arm. This partnership aims to support CoreVest’s aim to bring innovative financing solutions to real estate investors across the United States.
Vidur Gupta, Founder and Chief Executive Officer of Beekin said, “We admire CoreVest’s industry-leading franchise for business purpose loans and forward-thinking approach that the Redwood platform takes towards housing finance. As the world adapts to the changes created by the COVID pandemic, and the needs of real estate investors evolve, we are confident that data will build an efficient market for investors and renters. That is our singular mission, and we hope to continue to make progress on that mission alongside pioneers like CoreVest and Redwood.”
Micaela Lumpkin, Chief Credit Officer of CoreVest commented, “We believe we are in the early innings of data and AI pervading housing and lending. As we continue to grow our business, quality data solutions like Beekin can help create housing solutions and efficiencies for our business and industry at large. As the one-stop shop for businesses looking to grow their rental housing portfolios, CoreVest is committed to innovative tools and faster, better service.”
Beekin is a next-generation AI platform for institutional investors in single-family and multifamily real estate. By leveraging Big Data and advanced AI, Beekin patented solutions drive efficiencies in housing for Top-5 CRE asset managers and lenders nationwide.
Beekin believes that better information can build an efficient market. Its solutions have helped create happy homes for thousands of renters nationwide. And in doing so, investors have added 8-figure alpha to portfolios and created social impact, making rental housing more efficient.
The Beekin team comprises scientists from 7 of the top 20 research universities and former real estate investors from top-5 banks. For more information visit beekin.co.
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CoreVest, a division of Redwood Trust, is the leading lender to residential real estate investors nationwide. It offers long-term loans for portfolios of rental properties as well as short-term bridge loans, investment credit lines and build for rent programs. With more than $16 billion in loans closed and over 125,000 units financed, CoreVest offers attractive rates, rapid timelines and closing certainty. The company works directly with borrowers and brokers. For more information, visit www.corevestfinance.com.
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