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Ascend Education of Provo partners with Brazil IT giant

Last week, Ascend Education of Provo announced its official partnership with the Brazil National Network for Research and Instruction.

The National Network for Research and Instruction provides the internet backbone and training services to Brazil’s federal universities, government agencies and military, according to a press release. Ascend Education is an online training providers. The partnership was announced at Forum RNP 2019, an international conference for digital learning in Brazil’s capital city, Brasilia.

Under the partnership agreement, Ascend Education will provide its cloud-based courseware and learning platform to the 600 institutions throughout Brazil that the network’s educational arm connects and provides distance learning services to. The training solution provides virtual labs, video training, textbook quality written lessons, and practice quizzes and exams to prepare students for the IT workforce, the press release states.

“Cloud-based services are the most cost-effective ways to reach more students via distance learning and provide them the skills to succeed in today’s workplace,” Roy Olsen, Ascend’s director of market development, said. “This partnership will bring better and more effective training to students throughout Brazil and the U.S.”

The network’s support and operations coordinator, Renato Duarte, said the company didn’t find any other resource that matched the Ascend Education platform.

Multifamily vacancy rates unchanged for third straight year

The Salt Lake City office of CBRE released its semi-annual Greater Salt Lake Area Multifamily Market Report last week and found the multifamily market along the Wasatch front continues to experience record sales volume. As of mid-year 2019, with data from the first half of the year, sales volume was just over $585 million and is on track to beat last year’s record high of $1.44 billion.

The report also found vacancy rates have remained steady at 3.9% for the third straight year, signifying a balanced market where current demand meets new supply at a “healthy pace.”

“Multifamily continues its commanding presence and is the preferred investment vehicle over all other asset types—both locally and nationally,” CBRE vice president and multifamily specialist, Patrick Bodnar, said. “This has caused cap rates to experience a downward pressure as competition to purchase assets has greatly increased from institutional investors, private equity firms and high net worth family offices.”

Other report highlights include in-migration for employment remains the top driver for multifamily demand and contributes to the low vacancy rate, year-over-year rent growth is at 5.1% with an average monthly rent of $1,157 across all kinds of properties, and out of state developers continue to look to invest along the Wasatch Front.

So far in 2019, according to the report, close to 3,000 units have delivered and an additional 4,764 units are expected to be completed across the Wasatch Front by the end of this year, enclosing four counties. The report states the majority of new development is taking place in Salt Lake County.

The full report can be downloaded at the CBRE website.