July 24, 2016 6:05 PM ET

Real Estate Management and Development

Company Overview of Ten-X, LLC

Company Overview

Ten-X, LLC provides an online real estate marketplace allows people to buy and sell commercial and residential real estate properties online using desktop and mobile technology. Ten-X, LLC was formerly known as Auction.com, LLC and changed its name to Ten-X, LLC in January 2016. The company was founded in 1990 and is based in Irvine, California.

One Mauchly

Irvine, CA 92618

United States

Founded in 1990

Phone:

949-859-2777

Fax:

949-465-8567

Key Executives for Ten-X, LLC

Chief Executive Officer and Director
Age: 47
President and Member of Advisory Board
Co-Founder and Executive Chairman
Co-Founder and Vice Chairman
Chief Financial Officer
Age: 44
Compensation as of Fiscal Year 2016.

Ten-X, LLC Key Developments

Ten-X Appoints Eric Paulsen as Senior Vice President

Ten-X announced the hiring of long-time commercial real estate industry executive Eric Paulsen as senior vice president of business development. In his new role, Paulsen will oversee Ten-X Commercial's Private Client Group which is focused on the community of private investors buying and selling commercial properties on the company's innovative online transaction platform. Paulsen has nearly three decades of experience in commercial real estate, including more than 11 years as an executive at CBRE Group, 12 years as vice president of national acquisitions at LNR Property, and a three-plus year stint at Ten-X, where he played a critical role in growing the company's commercial business before departing in 2014. He most recently served as senior vice president at Prism Realty Corporation in Southern California.

Ten-X Releases Latest Ten-X Commercial Real Estate Nowcast

Ten-X has released its latest Ten-X Commercial Real Estate (CRE) Nowcast. The pricing index, which combines Google Trends data, Ten-X's proprietary transaction data and investor surveys to forecast CRE pricing trends in real time, reveals that commercial valuations increased by 0.3% month-over-month and 5% year-over-year in June 2016. The office, apartment and retail sectors all saw monthly increases in June, with the Ten-X Office CRE Nowcast posting the strongest gain, rising 2.5% from May 2016 and nearly returning to its December 2015 cyclical peak. In many ways the nowcast is reflecting office fundamentals, most notably indicating that pricing has remained range-bound over recent months amid its volatility. June's apartment sector nowcast is up 0.8% from the previous month, marking its seventh consecutive monthly gain. While an increasing number of US apartment markets are now seeing vacancies rise amid increased development, the outlook for supply appears to be easing. While rising vacancies and slower rent growth are moderating the overall outlook for this segment, investors are focusing on long-term positive trends such as later marriage ages, increased single-headed households, high student debt loads and wariness about owning. The Ten-X Retail Nowcast continued to show strength beyond its underlying market fundamentals in June 2016, increasing 0.4% in June 2016 and pushing it 6.5% above the midyear 2015 level. Pricing on the Ten-X platform for retail properties has been strong and contributed to this month's gain. Declines were seen in both the Ten-X Industrial and Hotel Nowcasts in June 2016. While the industrial nowcast's 0.5% decline followed a 0.7% decline in May 2016, the index stands a robust 13.4% above its year-ago level the strongest annual gain among the property segment nowcasts. The Ten-X Hotel Nowcast resumed its downward movement after a slight increase in May, declining 1% month over month and 2.3% year over year. Google search trends were decidedly negative and Situs/RERC surveys continued to reveal a "sour mood" among market participants as supply begins to outpace demand, and the threat to pricing and demand from Airbnb takes hold as a legitimate concern. The Ten-X CRE Nowcast (formerly the Auction.com CRE Nowcast) is a price index covering the entire U.S. commercial market, including individual price trends for each major market sector office, apartments, retail, industrial and hotels. It is based on data modeling developed by Google Chief Economist Hal Varian, who defines "nowcasting" as "contemporaneous forecasting" â€" the ability to predict what is happening as it occurs. Ten-X applies Varian's theories by combining publicly available and anonymous Google Trends data with its own proprietary transactional data to create a model for accurately predicting current commercial real estate activity. This data is supplemented with "real human" input through the company's partnership with Situs and their Real Estate Research Report (RERC). Ten-X issues its CRE Nowcast monthly after combining transactional data, related online search activity indicating purchase intent and investor survey results. The company runs multiple versions of the Nowcast model and layers in additional variables every day to improve its accuracy in predicting pricing trends across CRE sectors in key U.S. markets. Future iterations will include regional, local and individual asset-based price indicators. By analyzing current market conditions as opposed to only historical data, Ten-X is able to provide more relevant and timely insight to real estate investors, economists and government entities alike.

Ten-X Announces the Promotion of Chris Galy to Chief People Officer

Ten-X announced the promotion of Chris Galy to chief people officer. In his new role, Galy, who previously served as vice president of talent, will oversee all human resources operations, talent acquisition, talent development and employment branding efforts for Ten-X, driving programs that foster a people-centric culture across all of its offices nationwide. He will continue to be based in the company's Belmont, California offices and report to Ten-X Chief Executive Officer Tim Morse. Prior to joining Ten-X in 2014, he served in human resources leadership roles at Intuit, Xilinx, Harmonic, and Integrated Device Technology. At Intuit, Galy was responsible for overseeing all global recruiting efforts and Intuit's well-regarded Early Career Rotational Development Program.

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