Global CEO Talks Real Estate Advisory and Investing
With 20 years in the industry, California Listings expert Kofi Nartey is a well-established and highly sought after leader in residential real estate. But when Kofi decided to rebrand Society Brokers into Globl Red in 2021, he had international development dreams in mind.
Globl Red didn’t just mark a name change—it was a change in philosophy. Kofi and his team have become the go-to brokers for affluent clientele and celebrities, as well as a global business leaders, looking to expand their real estate holdings with investment properties both domestic and international. Now, we’re talking all things development with Kofi to learn the ins and outs of real estate development.
You’re already a rockstar in residential real estate sales, so what inspired this pivot to a broader portfolio with Globl Red?
Kofi: Our industry has been underdeveloped for years. Agents help with the largest transactions of most people’s lives and then disappear. I want our industry to transition from sales agents to real estate advisors. Our firm is focused on servicing the full real estate portfolios of our clients. Our core competency is still residential real estate, but we have professionals to help with new construction, multi-family investing, commercial real estate and international development.
What investment opportunities are you offering from Globl Red?
Kofi: In our first year, we focused on single-family flips. We have now built out our investment offering infrastructure, and have expanded to multi-family units and mixed use developments nationally and globally.
Who is your target investor and why?
Kofi: One target is the newer investor who wants to get into real estate investing, but may not have the experience or capital to take on a full project by themselves. We have also exposed real estate investing to hundreds of our professional athletes and entertainment clients. Also, we are starting to work with larger family offices and institutional level investors as our reach and deal size continue to grow.
What has success looked like in year one at Globl Red?
Kofi: Within the first year of launching our investment arm, we purchased over $25M million of investment properties with over 30 investors. Globl Red was also brought on to oversee real estate development and sales for a $1 billion mixed-use project in Belize.
Aside from having a stack of cash ready, how do we get started?
Kofi: It’s easy to get started as an accredited investor. You can reach out to me or our Chief Investment Officer, Daron Campbell. We can share current and upcoming opportunities that we have. Our initial opportunities started with a $50,000 minimum investment, but we also have $1 million-plus opportunities that some of our clients have opted into.
Cadillac and Modern Luxury Feature Globl RED and Nartey Sports Foundation
Kofi Nartey, Founder and CEO of GLOBL RED Real Estate and Development, and Mimi Nartey, Director of Community and Philanthropy at GLOBL RED are the definition of a power couple. The duo seamlessly balances multiple facets of their lifestyles, from leading a thriving luxury real estate firm, to raising two children, to giving back to their community through the Nartey Sports Foundation, which supports pathways for underserved youth to experience the power of sports. “We want to allow people to participate in sports and have those benefits of teamwork, of resiliency, of self-efficacy, all of the things that we've extracted from sports that now we can apply to all other areas of our lives.” says Kofi.
The Foundation has supported causes as diverse as providing ballet interventions for juvenile detention centers to funding a collegiate scholarship to the first African American rodeo athlete at Fresno State. “Giving back is also a part of a larger purpose. “Both Kofi and I have fathers who are immigrants… and for them to come from another place, sacrifice so much and accomplish so much, and we really decided we also want to build upon the work that they have put in and build up the family legacy.” explains Mimi.
All of this success comes with considerable work, and the multi-functionality of the 2021 Cadillac Escalade fits perfectly into the busy lives of the Narteys, transitioning from dropping off the kids at school to high-level client meetings to sports practices. The cutting edge augmented reality navigation comes in handy as the family travels across Los Angeles, while the spaciousness of the interior and up to 121.0 cubic feet of cargo space is perfect for transporting equipment and gear for the whole family. As Mimi sums up, “The Cadillac Escalade is an SUV that can transition with us through all of these different identities throughout the day from mom to business person to philanthropist.''
Kofi Nartey Speaks to Authenticity in Marketing at Inman Luxury Conference in Las Vegas
By CRAIG C. ROWE for Inman | Read the original article here
Luxury leaders agree: digital marketing rests on authenticity.
Whether it's over Zoom or through email, digital marketing and outreach is now the starting point of every interaction, and it has to be strategic enough to pull the prospect deeper into an eventual personal interaction.
Nartey Sports Foundation Funds Volleyball Court at School for the Deaf in Ghana
Volleyball Court at the Tetteh Ocloo State School for the Deaf in Ghana.
We were very pleased to collaborate with Mr. Hamidu Yussif and the Tetteh Ocloo State School for the Deaf. In his compelling grant application, Mr. Yussif wrote:
“I transferred to the State School for the Deaf (SSD) in 2002 after I lost my hearing, and the school has nurtured me and taught me to become who I am today. It was at SSD that I first began to learn sign language and develop my identity as a Deaf person. My experiences there helped me realize that deafness is not a curse. Before , I thought I was the only Deaf person in the world, but my education at SSD exposed me to others just like me all over the world. Seeing successful Deaf individuals and role models gave me a powerful feeling of optimism…
…SSD has improved greatly over the years with many more educational facilities, including classrooms, a library, a clinic, a dining hall, and dormitories. Unfortunately, it does not have any fields where students can exercise or practice sports during their leisure time. Imagine being stuck in a boarding school with no sports or recreational facilities! During my time as student, we participated in various sports activities in district and inter-regional sports competitions, but we had to walk three miles away to use a neighborhood school field to perform training. I want to make it easier for the current students at SSD pursue their passion for sports. Volleyball is the best fit for what the students and staff currently need, as there is only limited land available. Both the boys and the girls will be excited to be able to play. Eventually, we hope to gain enough land to build a soccer field and netball court. For now, however, the focus is on the volleyball court.”
We look forward to supporting this community with additional sports facilities in the near future!
Globl RED Luxury Development Partner Silversands in Grenada Featured in Architectural Digest
By David C. Kaufman for Architectural Digest | Read the original article here
Why the Tiny Island of Grenada Is Luxury Real Estate's Next Big Thing
Thanks to resorts like Silversands—and its sleek, chic villa collection—the southern Caribbean nation is finally ready for its close-up.
At the southern end of the Caribbean, barely 100 miles from Venezuela, the tiny tear-shaped island of Grenada is finally ready for its global real estate close-up. Having long escaped the ravages of mass tourism, Grenada’s sheer under-the-radarness has become one of its most important selling points. There are almost no cookie-cutter resorts, few multinational businesses and—most crucially— for the majority of the pandemic, very little Covid-19 outbreaks.
Indeed, since the pandemic began Grenada—like other members of the Commonwealth—has taken an extreme “no Covid-19” approach to the crisis. That has meant strict testing for travelers before departure, a second test upon arrival, and mandatory in-resort quarantine until those second results are revealed. Full vaccination is also a must.
While certainly stringent, the impact of these measures was apparent—for most of the pandemic, Grenada was a place of no masks, no curfews, no sick people. "Sadly, like the rest of the world, the Delta variant has since changed our reality,” explains Kandace Douglas, real estate sales and marketing director of Silversands villas. And as a result the island, though still less impacted than the rest of the world, is grappling with the pandemic.
Nonetheless, the country has implemented a range of strict containment policies — and right on time. Because these efforts comes as the island is finally waking up to its luxury real estate potential. And a large part of this is due to Silversands, a 43-room resort that opened in 2018 on a prime slice of Grand Anse Beach—Grenada’s finest sandy stretch and one of the best beaches in the Caribbean.
Developed by Egyptian telecom mogul Naguib Sawiris through his firm Ora Developers, Silversands’ ultra-contemporary, white-washed aesthetic is the antithesis of Caribbean cliché. Forget thatched-roof huts or “chic shacks” perched over the seashore on stilts. Rather, Silversands’ rooms—spread over a pair of three-story wings—feature clean lines, subtle patterns, and constant Caribbean views. The vibe—especially in its light-filled spa—feels akin to a sleek branch of, say, Soho House—only dropped in the southern Caribbean. And Silversands’ pool, all 328 feet of it, is the longest in the entire Caribbean.
This same feeling extends to Silversands’ eight private villas, which have recently hit the market priced from $7 million to $14.5 million, depending on location (though first-mover incentives mean early buyers can secure discounts). Hidden from the main resort behind a subtle yet substantial wall, the villas are nothing if not spectacular. Four are perched on a low hill just above the main resort with prime Caribbean views. Four others are set directly on the sand just feet from the sea, as close as you can get to the waves without going for a swim.
No matter the location, the villas are substantial: 22,000-square-foot plots, 2,200+ square-feet of outdoor space, four primary bedrooms, 4.5 bathrooms, and massive private swimming pools and bijoux plunge pools. Designed by Reda Amalou and Stephanie Ledoux of Paris-based architecture firm AW2—responsible for a wide range of Ritz-Carlton, Four Seasons, and Six-Senses resorts worldwide—the villas come fully furnished with Molteni, B&B Italia, and Bruno Moinard pieces. Kitchen appliances are courtesy of Gaggenau and Miele, while the outdoor and indoor showers are from Hansgrohe. Villa buyers have access to all main resort amenities: spa, two restaurants, concierge and house-cleaning services. Owners also benefit from expedited immigration upon arrival and transport to and from the resort via Tesla, a nice and unexpected touch. “It’s a natural and elegant design aesthetic that honors the surrounding landscape and beachfront location,” Douglas explains.
The villas’ serious pricing—in line with better-known (and far better trod) islands like Barbados or St. Barts—reflects their serious amenities. But part of each sale supports the West Indies School of Hospitality Foundation, Douglas says, which offers free hospitality courses to 6,000 Grenadians in partnership with e-Cornell, the online certification arm of Cornell University. “Barry Collymore, chairman of the Grenada Tourism Authority, founded the WISH Foundation with the support of Naguib Sawiris,” Douglas continues. “Barry started the program in an effort to effect positive change in the lives of Grenadians and maximize the tourism industry, which was devastated by Covid-19.”
Warm weather and sandy shorelines are not the only reason ultra-high-net-worth buyers (UHNW) are setting their sites on Grenada. The island also participates in the type of citizenship programs increasingly popular from the Caribbean to Europe to the South Pacific. In Grenada’s case, its Citizen by Investment program offers Grenadian passports to folks who invest a minimum of $200,000 into the island. “This is the icing on the cake,” Douglas notes. “Over the past year and a half, citizenship diversification has become more important than ever. According to a recent Douglas Elliman–Knight Frank Wealth Report, 24 percent of UHNW are interested in second types of citizenships.”
While countries such as Malta have been rocked by citizenship-related corruption and even murder, Grenada’s version is fairly stringent. “The program’s uniqueness stems from its in-depth, rigorous, and thorough due diligence process that acts as a filter in seeking worthy investors,” explains Afi Ventour de Vega, a prominent Grenadian lawyer and founder of Afi Ventour & Co.
And Grenada’s citizenship offering is not only secure but expansive. “The program leads as the only state in the Caribbean whereby successful applicants are eligible to apply to live and work in the United States of America through the E2 Visa Investor Treaty that Grenada enjoys with the USA,” Ventour continues. “Successful applicants enjoy visa-free travel to over 140 countries worldwide, including the United Kingdom, China, Russia, Schengen, and the UAE.”
The citizenship program is available to most top-tier properties in Grenada that meet the financial requirements. This includes villa projects such as the handful of estates still available at Laluna, a 30-acre resort completed over 20 years ago and popular with fashion types such as model Kate Moss and Vogue editor in-chief Anna Wintour and the crew from Sports Illustrated, who shot its iconic swimsuit issue at Laluna back in 2003.
In 2009, Laluna founder and former Giorgio Armani executive Bernardo Bertucci developed seven villas, of which four are still available. Priced between $3.9 million and $7.4 million, the villas (or Estates) are perched on a hillside and offer serious panoramic sea views along with a host of financial incentives (including no sales tax, most citizenship fees waived, and a generous revenue-sharing arrangement if owners opt to place their villas in the resort’s rental pool). The villas also offer families an opportunity to enjoy Laluna, whereas the main resort is adults only.
“Why the villas?” Bertucci asks. “The idea came to me in 2009 just after the financial crisis when so many companies working on new hotels left Grenada. I saw an opportunity and received great help from the local government because I was the only one doing something like this at the time.”
Since then Bertucci has been joined by Silversands on Grenada, along with additional high-profile hotel brands including Sandal’s, which opened a resort-only property in 2014, and Kimpton, which is building a resort and real estate project at the opposite side of Grand Anse Bay from Silversands that is slated to debut in 2022.
Back at Silversands, which looks to be booked solid for the upcoming holiday season, plans are already in motion to expand the company’s island footprint. First up are a pair of distinctive projects, the 30-room Beach House by Silversands and the 72-room Silversands Legacy, which will be anchored by a 100-meter (328 foot) pool. The Beach House is scheduled for completion in 2022, while the latter (which features real estate) will participate in Grenada’s citizenship program. Longer term, the large-scale Port Louis Maritime Village and Marina development and more intimate Riviera resort project will further solidify Ora Caribbean’s commanding presence on the island.
Nearly 40 years after U.S. forces invaded Grenada and ended its nascent New Jewel revolutionary movement, the island’s spirit of activism and self-reliance remains strong. With new resort and real estate developments—coupled with the island’s ambitious citizenship program—Grenada is focusing its future on hospitality’s highest end. And the Grenadian people are clearly the island’s key to success, propelling their nation far beyond its traditional cash generators, such as chocolate and spices.
“The Grenadian people and the country's raw, authentic beauty are what makes it stand out from the rest of the Caribbean,” Douglas says. “Our developer really understands how important it is to preserve the authenticity of the island while still ensuring the locals are supported through the thriving hospitality and real estate movement.”
Globl RED Lists Hollywood Actor Lance Gross’ Penthouse
By Jack Flemming for Los Angeles Times | Read the original article here
Actor Lance Gross offers up his modern Hollywood penthouse.
After a decade in Hollywood, Lance Gross is ready for a scene change. The “Tyler Perry’s House of Payne” actor just listed his architectural penthouse for $1.125 million, or $300,000 more than he paid in 2010.
A modern concoction of concrete and glass, the three-bedroom condo was designed by Clive Wilkinson, the South African architect who also worked on the design for KCRW-FM’s offices in Santa Monica.
It’s one of nine units in 10 Palms, a striking complex on Franklin Avenue wrapped in white stucco, sheet metal panels and red cedar siding. Gross said the architecture and design are what drew him there a decade ago.
A sky-lit great room with oversize windows and accent walls anchors the home, and a floating staircase ascends to the dining room and kitchen. The nearly 2,000-square-foot floor plan also holds an office, primary suite with wood ceilings and bonus room decked out with a baseball scoreboard.
The unit includes underground parking, as well as a turf balcony overlooking Hollywood.
A native of Oakland, Gross has starred in multiple Tyler Perry productions including “Tyler Perry’s House of Payne,” “Tyler Perry’s Meet the Browns” and “Tyler Perry’s The Paynes.” Later this month, he’s set to appear in the Fox drama series “Our Kind of People.”
Kofi Nartey and Michael Joseph of Globl RED hold the listing.
Kofi Nartey Selected to LA Business Journal LA500 of Most Influential Business Leaders
Recently selected to the LABJ LA500, Kofi Nartey continues to be a force in the worlds of celebrity and luxury real estate. His dynamic firm, GLOBL RED, is changing the traditional brokerage model. In addition to negotiating over $200 million in real estate, the firm purchased $20 million of properties in Los Angeles alone. The 15 person firm continues to grow market share in Los Angeles. 2022 will bring more work of the development side of the business to the forefront. Nartey recently closed a $15 million deal in Beverly Hills (726 N. Maple) and is negotiating over $300 million in international development deals. With his team possessing over 100 years of combined experience and over $6 billion in transactional experience, it assists clients in acquiring and selling prestigious properties, while providing unique opportunities to build out their real estate portfolios. Nartey understands the luxury lifestyle, and delivers it.
Globl RED Bel Air Listing Featured in Interiors Magazine
By Lauren Nehorai for Modern Luxury Interiors | Read the original article here
Priced at $8,595,000, 2031 Roscomare Road stuns with over-the-top amenities and scenery to remember.
Tucked within the lush, natural surrounds of Bel-Air rests this modern manse complete with seven bedrooms, eight bathrooms and 8,125 square feet of living space. The newly built home sits atop a 130-foot driveway and is infused with natural elements to complement the surrounding scenery and speak to its Southeast Asian inspiration.
“We wanted to create a perfect balance of modern luxury and resort style living,” notes Jesse Zamora, a developer at Zamora group. “I wanted the home to be of contemporary style, but also translate a sense of warmth and Zen.” Upon entry, guests are greeted by a 33-foot waterfall that pours into an infinity-edge salt water pool and spa, setting the tone for this indoor-outdoor oasis. The house—full of white oak cabinetry and full-length windows that look out onto impeccable views—is made for entertaining, with key features like a rooftop deck, a six-seat theater, a bar, a 150 bottle wine rack, two fire pits, a barbeque, a meditation deck area and a freestanding outdoor soak tub.
Also impressive is the kitchen, that’s equipped with a massive 15’ Italian marble and leather island, Wolf appliances, a Sub-Zero refrigerator and three wine fridges. The one-of-a-kind primary suite stuns with a unique transparent fireplace, and a gorgeous bathroom that houses a stone tub, and rain and state-of-the art shower. Also included are smart home features for state of the art entertainment, convenience and security. Surrounded by nature and mere blocks from the landmark Hotel Bel-Air, this home offers the perfect mix of privacy and prestige. $8,595,000, Listed by Kofi Nartey and Jesse Zamora, GlobalRED/The Zamora Group, 2031 Roscomare Road, 310.849.5634, globlred.com, thezamoragroup.com
Society Rebrands to Globl RED as part of International Growth
Nartey Expands His Global Presence, Partnering with Side to Position New Brand as a Worldwide Leading Authority on Celebrity and Luxury Real Estate and Development
BEVERLY HILLS, Calif., June 8, 2021 /PRNewswire-PRWeb/ -- SOCIETY Real Estate + Development today announced its rebrand to GLOBL RED, a name that reflects its recent international expansion.
The firm was founded in 2020 by Los Angeles luxury real estate leader Kofi Nartey in partnership with Side, the only real estate technology company that exclusively partners with high-performing agents, teams, and independent brokerages to transform them into market-leading boutique brands and businesses. In less than a year, Nartey's firm has sold real estate in 20 Los Angeles neighborhoods and has listed and sold properties in six states and eight countries. Nartey and his team also purchased $20 million of Los Angeles real estate and are currently negotiating over $200 million of international real estate and development deals. GLOBL RED is designed to accommodate this growth.
"My agents and I have always had an international presence," said Nartey. "But in this past year, we've facilitated numerous international deals and cultivated development partnerships that span the globe, including Mexico, Grenada, Antigua, Nigeria, and Ghana. We needed a brand that could grow with us and immediately communicate that ours is the go-to firm for worldwide real estate opportunities."
During his 19-year career, Nartey has managed transactions for an extensive list of celebrities, including Michael Jordan, Kevin Durant, and James Van Der Beek, and he is the only broker contracted with the NFL to consult players on real estate. Nartey has earned many accolades throughout his career and was recently named to the Los Angeles Business Journal's LA500 list. Before SOCIETY, now GLOBL RED, Nartey had founded and managed the national Sports & Entertainment Division under The Nartey Group for Compass. GLOBL RED offers clients senior-level advisory services, drawing on more than $6 billion in sales and 100 years of combined experience in the residential, commercial, new development, and luxury markets.
"Our partnership with Side has played a part in how quickly we've grown internationally," said Nartey. "Not only do we have technology that iterates based on our needs, we have a team of professionals helping us to streamline the backend experience for our clients."
About GLOBL RED
GLOBL RED is a private, global real estate firm that has combined the best of boutique brokerages, large brokerage technology, private client practices, family offices, and specialty law firms to create a unique model to service the full real estate portfolios of its clients. Its competencies include residential real estate, new development, commercial real estate, and investing, with specialized services for the unique needs of sports and entertainment clientele. GLOBL RED agents have worked with the world's most discerning clients, brands, and luxury developments. To learn more, please visit http://www.GloblRED.com.
Side transforms high-performing agents, teams, and independent brokerages into successful businesses and boutique brands that are 100% agent-owned. Side exclusively partners with the best agents, empowering them with proprietary technology and a premier support team so they can be more productive, grow their business, and focus on serving their clients. Side is headquartered in San Francisco. For more information, visit http://www.sideinc.com.
In March, Side announced a $150 million Series D funding round led by Coatue Management, a top global technology-focused investment firm. Side is led by experienced industry professionals and world-class engineers who develop technology designed to improve agent productivity and enhance the client experience. Based on its belief that homeownership is a fundamental human right, Side is on a mission to improve the public good by providing top-performing real estate agents, teams, and indie brokerages with the best system, support, service, experience, and results. It's also the fastest real estate company to reach the $1 billion valuation milestone, doing so in just four years.