GenStar Launches Architects and Engineers Liability Program in Collaboration with Lockton Affinity

GenStar, Lockton Affinity | July 06, 2020

GenStar announced the launch of its Architects and Engineers program with Lockton Affinity. GenStar President and CEO Marty Hacala commented, “GenStar is pleased to associate with Lockton Affinity. They are insurance specialists with a proven history of understanding the risks of architects and engineers.”

The GenStar and Lockton Affinity Architects and Engineers Professional Liability program protects architecture, civil engineering, construction management, design build, electrical engineering, HVAC engineering, interior design, landscape architecture, mechanical engineering and surveying professionals. Liability limits up to $2,000,000 will be available on a claims-made basis. Professionals will receive complimentary risk management and contract review assistance, as well as disabled partner replacement. “Industry professionals will receive comprehensive coverage. Architects and engineers can request a price indication for this new, customized offering, typically in several minutes or fewer,” said Jeff Severino, Producer at Lockton Affinity.

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CONSTRUCTION

Onyx+East and Pretium Start Construction of Inaugural Build-to-Rent Community

Pretium | March 21, 2022

Onyx+East, an award-winning homebuilder headquartered in Indianapolis and known for its modern and functional home designs, and Pretium, a specialized investment firm with $40 billion in assets, today announced the start of construction of Monterey, the first build-to-rent ("BTR") community under development through their previously announced joint venture. As part of the joint venture, Onyx+East and Pretium are committed to investing approximately $600 million to develop, build, and operate new single-family, BTR communities across key Midwestern markets and along Florida's West Coast. Monterey will be a 24-home BTR community in Tampa, Florida with brand-new townhomes that incorporate sustainable home features such as luxury vinyl plank flooring and stucco exteriors, providing a sustainable and modern rental option. Located among the vibrant neighborhoods of West Tampa and Westshore, the location also provides easy access to Midtown Tampa, a 22-acre mixed-use district featuring Class A office space, mixed-use retail and entertainment, luxury apartment residences, and a boutique hotel. Residents will have the option to rent three- and four-bedroom townhomes with attached garages and will be walking distance from Midtown Tampa's coveted urban amenities including Whole Foods, REI, a community dog park, and a watercourse trail. Monterey is a short commute from employment centers with over 160,000 jobs and major economic drivers including The University of Tampa, West River Development, and the Tampa General Hospital. "This attractive location in Tampa's Midtown offers residents convenient transportation options throughout the Tampa/St. Pete metro area and plentiful opportunities for shopping, dining, and outdoor activities, Monterey will provide a desirable alternative to typical apartment living, offering residents a higher quality rental experience featuring private garages, dedicated outdoor spaces, and open and flexible floor plans." Onyx+East's CEO, Kelli Lawrence "Our partnership with Onyx+East and the Monterey project are emblematic of the high-quality, accessible, and affordable homes we are committed to building, renting, and operating," said Matt Johnston, Managing Director and Head of Build-to-Rent at Pretium. "This BTR community will offer Tampa residents a single-family lifestyle of modern, sustainable, and healthy homes with amenities and a location that we know our residents want. With today's national housing supply shortage only intensifying, we will continue to work with our partners to build homes and play a leading role as part of the private capital solution." Monterey will be located at 1315 N. Himes Avenue. The joint venture purchased the land in February 2022 and the first units are expected to be available to rent in Q4 2023. About Onyx+East Onyx+East is a full-service homebuilder executing development, construction, marketing, design, and sales with four offices in the Midwest and Florida. Founded in 2015 to deliver homes in the most desirable locations with an exceptional customer experience, Onyx+East creates places designed for modern living that are connected within growing cities and suburbs. Through creativity, innovation, and sustainability, Onyx+East creates communities that are changing the way people live, work and "do life." For more information, visit onyxandeast.com. About Pretium Pretium is a specialized investment firm focused on U.S. residential real estate, residential credit, and corporate credit. Pretium was founded in 2012 to capitalize on secular investment and lending opportunities arising as a result of structural changes, disruptions, and inefficiencies within the economy. Pretium has built an integrated analytical and operational ecosystem within the U.S. housing, residential credit, and corporate credit markets, and believes that its insight and experience within these markets create a strategic advantage over other investment managers. Pretium's platform has approximately $40 billion of assets under management as of February 1, 2022 and employs more than 3,000 people across 30 offices, including London and Dubai.

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CONSTRUCTION

Buildots Announces Scheduling Integrations With Planning Platforms for Advanced Progress Tracking

Buildots | April 28, 2022

Buildots, which uses AI and computer vision to modernize construction management, announced scheduling integrations that will feed data directly from construction sites to planning platforms, automating the process by which teams update and understand progress. Construction teams depend on project planning platforms like Oracle Primavera P6, Asta Powerproject and Microsoft Project, which require manual input to update progress and schedules. This means that site teams regularly and manually compile progress reports - a laborious and time-consuming process. Beyond gathering information from unaligned sources, it often requires referring back to building sites to double and triple check gathered information. Buildots provides a single source of truth for construction site activities. By collecting data with hardhat-mounted 360° cameras and processing this data with AI, its solution enables teams to keep construction on schedule and flag mistakes in real time. Buildots' new integrations create a direct sync between on-site activities and project planning platforms. This provides teams with coherent information in real time, enabling them to understand progress and better predict when projects will end. By feeding data directly to planning platforms, these integrations automate real-time progress into scheduling, enabling schedule owners to allocate more time to decision-making instead of organizing and sifting through data collected from sites. "After seeing our clients manually updating their schedules based on the data provided by our platform, we immediately saw the potential for freeing up managers' precious time on site, The highly accurate data that is now automatically fed into schedules will help planners provide better estimates and respond more quickly to developments affecting their projects." Roy Danon, co-founder and CEO of Buildots About Buildots Buildots is a Tel Aviv and London-based startup leveraging the power of AI and computer vision to modernize the construction management industry. Buildots uses hardhat-mounted cameras to capture imaging of every detail of an ongoing project during regular site walks. The data is then analyzed using AI models to transform random visual data into highly accurate, actionable insights that are correlated with the project's designs and schedule.

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ENGINEERING TECH

RI Locals Launch National App to Disrupt the Construction Industry

Dibbs Technology | February 24, 2022

Dibbs Technology is excited to announce the launch of its new iOS app. The app is a first in the construction industry to serve as a marketplace for both construction supplies and services. Rated a Top 10 startup company of 2021, Dibbs is designed to take the friction out of bidding, buying, and selling products and services in the construction and real estate marketplace. Based out of Newport, Rhode Island, the app will launch to Rhode Island and Massachusetts residents only, until phase 2 of the launch plan rolls out in April. CEO and Founder Luke Fleury is also a General Contractor and Real Estate Developer in Rhode Island and explains why he created Dibbs. I was tired of spending countless hours trying to find the best quotes for my projects, this is what inspired me to create Dibbs." Dibbs is an app that will allow contractors, suppliers, homeowners, and more, to find the people and projects that they want to work with. "With our built-in bidding templates, we cut the time it takes to place and receive bids in half he adds. "Having a CEO who understands the field and operates on a day-to-day basis with other contractors and suppliers, helps us to ensure we are creating a tool that actually helps our users Dibbs can help people increase productivity and profitability. The app enables users to save money on their next project with more options and lower costs as well as higher quality." -Dibbs COO and Co-Founder Case Olszewski. To celebrate the launch, the company is rolling out a promotion to all new users. Users will have the option to refer friends and industry professionals. If referrals are provided, users will be entered to win a weekend getaway in Vegas. The Dibbs team is proud to launch the app and see users increase productivity and save money. Searching and contacting various sellers often requires multiple searches. While other apps offer lead generation tools, Dibbs provides customization and ease with their all-in-one marketplace for construction bidding. See for yourself how Dibbs is disrupting the construction industry by downloading the app today.

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CONSTRUCTION

Nubeva Announces Expanded Focus On Architectural, Engineering, and Construction (AEC) Industry

Nubeva Technologies | May 17, 2022

Nubeva Technologies a pioneer of next-generation solutions for ransomware, announces expanded efforts to help Architectural, Engineering, and Construction (AEC) firms better protect themselves from ransomware attacks. Based on industry-specific feedback and strong early adoption, the company is increasing its focus on the AEC as there is a clear need and fit for Nubeva's new breakthrough solution across the entire industry. With input from 100's of AEC firms, Nubeva's industry brief, Understanding Ransomware in the AEC, discusses the specific circumstances and challenges facing thousands of these companies in the United States alone. These organizations play a vital role in building and maintaining critical infrastructure, making them prime targets for ransomware. Due to industry-specific dynamics and computing models, findings are conclusive that the AEC industry experiences as much as 2x the ransomware attack rates as other industries. "When I first heard about Nubeva's ability to decrypt ransomware from a colleague, I was skeptical. But when we studied and tested it, we quickly realized this was the missing link in our security strategy and a silver bullet for attacks that get past our firewalls, EDR, backups, and other systems," said Andy Knauf, CIO of Mead & Hunt. "Ransomware Reversal essentially provides instant protection as my team was able to fully deploy Nubeva across all of our systems in hours, not weeks or months. It was really easy." Nubeva's Ransomware Reversal solution fills a vital gap for when ransomware gets past security systems, and organizations must recover quickly. The software solution enables organizations to decrypt files and systems locked during a ransomware attack to restore operations faster than other solutions. The software is simple to install across distributed environments, has next to zero ongoing maintenance, and is priced for widespread adoption across companies of all sizes. "It is clear that there is a vital need in this industry. We have booked and billed over $500,000 of contracts in its first 100 days of product availability, with a majority of orders coming from the AEC industry, Once a company engages with us, we see nearly a 50% close rate. In my experience, those are very exciting results. Normally enterprise software and infrastructure sales have nine-month average cycles. This is an excellent sign not only for product-market-fit but also pointing to a low cost of sales. As we establish a strong foothold in AEC, we will expand to other vertical industries, as clearly, this is a problem affecting everyone." Steve Perkins, CMO at Nubeva.

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