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Craig Davis Properties Closes Deal on Hampton Roads Luxury Multifamily Property

Craig Davis Properties

Craig Davis Properties, Inc. (CDP) and its partners, L.M. Sandler & Sons and Harbour Group closed on the sale of Lumen Apartments on September 27, 2021, reaching a record-breaking price per unit sale in the Hampton market. The 300-unit multifamily community is located in one of the area's most notable and growing economic regions, helping set lease-rate records at full capacity after only eight months, and out-performing initial pro forma projections. The commercial real estate development company, CDP, is North Carolina based with projects throughout the Southeast. The top-of-the market multifamily Hampton Roads community is situated amidst prominent economic drivers, including Langley Air Force Base, Huntington Ingalls Industries and other Fortune 500 companies. This prime location positioned Lumen Apartments as a desirable site in the growing metropolitan area. Lumen Apartments brings new life to the business park area while exemplifying CDP’s ability to customize projects for local communities and provide luxury living for residents. "This project exceeded expectations with its record-breaking sale following a remarkable full capacity lease rate," said Craig Davis, CDP Founder and CEO. "The Lumen project is an excellent example of the luxury niche market that is driven by modern tenants seeking greater amenities while at home. I'm pleased to have been able to deliver this success for our investors who had faith in the project and this market." Lumen Apartments offer top-of-the-line amenities, unrivaled in the current market. The units feature smart home technology, granite countertops, stainless steel appliances and floor-to-ceiling windows. Notable community amenities include a resort-style pool, activated entertainment spaces and on-demand fitness rooms. To further enhance the resident experience, CDP worked with local officials through an in-depth variance process to ensure proper signage and placemaking features designed to encourage resident interaction while meeting the needs and personality of the surrounding community. About Craig Davis Properties Founded by Craig Davis, former NCSU basketball player and Triangle resident in 1988, Craig Davis Properties (CDP) has grown into an industry leader in the development community - building projects throughout North Carolina and the Southeast. CDP's broad portfolio of projects range from commercial to multifamily communities that offer a diverse, modern lifestyle and an appealing environment to live and work. The company has developed over 8 million square feet of multifamily, office, industrial and mixed-use products throughout North Carolina and the Southeast and has an additional 2,000 multifamily units currently in the pipeline in the Carolinas. To learn more visit Contact Details Craig Davis Properties Scott Hellmuth +1 919-678-4212 Company Website

October 21, 2021 10:15 AM Eastern Daylight Time

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Save Highlands Committee Seeks Justice Through the Legal System

Save Highlands

A group of homeowners working to protect the people whose livelihoods depend on travel and tourism, the personal rights already vested in individual property owners, and inclusivity in the Town of Highlands have taken legal steps to protect their neighbors and their rights. Asheville, North Carolina, law firm Allen Stahl + Kilbourne has filed a legal complaint on behalf of Save Highlands against the Town for its decision on August 24, 2021, to ban all vacation rentals in R1, effective January 3, 2022. “We are happy to give a voice to so many local workers, homeowners, and businesses who are adversely affected by this impetuous decision,” said Kristy Jones Favalli, a member of the Save Highlands group. “It’s unfortunate that we’re in this position and that no conciliatory efforts have been made on behalf of the Town. Simply put, this is a matter of due process – we truly believe the law is on our side and that justice will prevail.” The Town of Highlands has allowed vacation rentals for decades and has permitted many property owners to make substantial investments based on that policy. In order to protect property rights and the economic welfare of the community, Save Highlands is seeking declaratory relief from the Court to prevent the Town of Highlands from discriminating against property owners’ ability to use their property as they see fit, while providing favorable treatment to other property owners. They do not seek monetary damages from the Town of Highlands. The members of Save Highlands recently sent the following letter to Town residents regarding the issue: Fellow Lovers of Highlands, As you are all well aware, Highlands is an inclusive family of year-round residents, seasonal homeowners, visitors, restaurateurs, artists, landscapers, retailers, housekeepers, entrepreneurs, builders, realtors, plumbers, electricians, and many others. All these groups are inter-woven into the fabric that makes this town so special, and while some may not realize it, all of these groups benefit from vacation rentals. For four decades the Town of Highlands communicated to countless property owners and visitors that there were no restrictions on vacation rentals. The Town has happily accepted rental tax revenue and welcomed renters for decades. That changed this summer when a small but vocal HOA voted to bring legal action against the Town of Highlands. On August 19 th, the Town meeting opened with the statement “this is the beginning of a long discussion on vacation rentals,” and less than a week later the Board voted to ban them. The people and the businesses of Highlands were blindsided. In response, Save Highlands was created. Sadly, we are being positioned as faceless investors. The truth is that we have been part of the community for decades and many of us are full-time residents. One member has had property and family rooted in the town since the 1920s, another since the 1880s. We are not a group of faceless investors. We are your neighbors and, just like you, we want what’s best for this Town. On October 13, the Save Highlands group of homeowners took the first legal step to retain personal property rights in the Town of Highlands. To be clear, this is not an action we wanted to take. The Town Commission simply has no legal authority to ban all vacation rentals in R1. Unfortunately, neither Mayor Taylor nor anyone from the Town of Highlands have come to the table with negotiations or made any attempt to find common ground. In effect, all remaining options for cordially protecting the rights of property owners and saving Highlands have been exhausted. We firmly believe the law is on our side regarding this issue. Banning rentals will not only have a crippling financial effect on Highlands, but also fracture its people unnecessarily. In fact, it’s already happening. This action has created an artificial divide between neighbors when together we could address the issue thoughtfully, taking the entire community’s input into consideration. A vacation rental ban will have a substantial negative effect on tax and business revenue and lead to a devastating loss of income for countless Highlands residents. Banning rentals could mean an annual loss of 19.3 million dollars in direct income on Main Street and a 115-million-dollar total economic loss for the Town. These financial implications are far reaching and affect us all. While the Town is currently booming - fueled by the travel dynamics of the pandemic and a recovering economy - the financial effects of a vacation rental ban will be felt this winter and exponentially when the economic climate isn’t so strong. We want balance. Vacation rentals are a complicated subject for any town, which is why they were specifically addressed in the Draft Community Plan. And while loud voices have stated that vacation rentals are “simply against the law,” that is simply false. The Town of Highlands Use Regulations do not even mention vacation rentals. Even the State of North Carolina defines vacation rentals as “residential use.” But more than that, we feel that who we invite into our homes should be in our hands as the property owners – not the decision of the government. We love this town and its people. And we believe if we come together as a community, we can create an inclusive, well-planned future to save Highlands for generations to come. Sincerely, The Save Highlands Committee To read the legal filing in its entirety, visit Contact Details Save Highlands Jill Lieberman, Adapt Public Relations +1 828-399-1588 Company Website

October 19, 2021 12:00 PM Eastern Daylight Time

Article thumbnail News Release Triples Revenue Growth from Record Number of Insurer Partnerships Representing $3 Trillion in Total Insured Value across 50 US States, the leader in property risk analytics powered by Artificial Intelligence (AI), today announced that as of Q3 2021 it has tripled its Contracted Annual Recurring Revenues and achieved more than 100% growth in number of customers year-over-year (YOY). The company’s rapid growth is fueled by the sweeping digital transformation of the $2.5 trillion global Property & Casualty (P&C) industry in light of COVID-19, which has driven high demand for its AI-enabled property insights, combined with increasingly frequent natural disasters, such as wildfires, floods and hurricanes negatively impacting industry loss ratios. Leading P&C insurance carriers currently use’s products in all 50 states of the US to assess catastrophe risk to each and every property. Furthermore, the recent approval of the’s proprietary climate risk models by insurance regulators in five states, including the company’s wildfire risk product, Z-FIRE™, by the Department of Insurance of California, drove record bookings.’s Growth by the Numbers: Increased the number of customers using’s property risk analytics products by more than 100% from Q3 2020 to Q3 2021 Leading carriers, including Amica Mutual Insurance, Berkshire Hathaway Homestate Companies, the California FAIR Plan, The Cincinnati Insurance Companies, and Farmers Insurance, among others, have announced long-term partnerships with this year Delivered ~3X growth in Contracted Annual Recurring Revenues in Q3 2021 vs. Q3 2020 Increased volume of queries on the platform by 260% in Q3 2021 vs. Q3 2020 Expected to more than double the size of the company over the next 12 months “Easy access to AI-driven property intelligence is key to helping carriers effectively analyze and manage risk at scale, while simultaneously providing more transparency and a better experience for home and business owners,” said Attila Toth, CEO of “High demand for cutting-edge property insights in a post-pandemic world where physical inspections have become difficult and climate risk models in face of increased catastrophe losses have driven our rapid growth. Today, we already help our customers insure about $3 trillion in real assets and will continue to grow that number for the foreseeable future.”’s products have helped carriers expand across new geographic markets, new business lines and delivered constant value through increased market share, risk-adjusted premiums and lower combined ratios. As a leading technology partner for many top insurers, the company ensures that its customers receive 10X return on their investment. For more information on and its products please visit About offers access to precise intelligence about every property in North America for insurance and real estate customers. The company uses aerial imagery, permit, transaction, weather and IoT data, combined with artificial intelligence (AI) to turn more than 200 billion data points into comprehensive digital records and property-specific risk scores. provides a constantly updated database of real estate information that impacts a property’s value and associated risks including the potential impact of catastrophic events like wildfires, hail storms, and floods. In an increasingly digital world, brings properties into a new digital age that enables real time transactions and powerful predictive analytics. Visit for more information. Contact Details Abby Schiller +1 216-870-1835 Company Website

October 19, 2021 08:00 AM Pacific Daylight Time

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New Legal & General Study on Millennials and Housing Looks at the Effects of Wage Stagnation on Home Ownership

Legal & General

36% of millennials find home ownership hard to afford where they currently live An additional 20% of millennials find home ownership extremely hard to afford Only half of recent millennial graduates managed to find a job matching their skills and education right after graduating – of these, 28% are still looking With broad economic concern about the Fed raising interest rates and the knock-on effect of increased borrowing costs, millennials’ attitudes around housing turn to the decades-long failure of wages to keep up with the cost of housing. Today, the third part of a broad new study conducted by Legal & General Group, U.S. Millennials and Home Ownership – A Distant Dream for Most, is released, zeroing in on how millennials’ income, and in particular the long-standing issue of wage stagnation, has contributed to the reality of housing unaffordability for millennials. This third segment of the data-rich study, Wage Stagnation Has Flipped the Housing Equation for Millennials, takes a deep dive into the effects of sluggish income growth versus the skyrocketing cost of housing on specific demographics within the 25- to 40-year-old U.S. millennial population. The long-term consequences are still unfolding, but according to the survey data, many millennials were living with their parents, and more than half of those surveyed found housing in their area to be cost prohibitive. Legal & General Group Chief Executive Nigel Wilson commented: “We’re seeing similarities between many parts of the U.S. and the U.K. in terms of the supply-demand imbalance, which further compounds the last few decades of median wage stagnation, something we are addressing at Legal & General. And while many millennials may have reasons beyond affordability to delay home ownership, the overwhelming majority of those who would like to become property owners continue to face significant challenges. It’s time to take action— and create solutions that will address the wage issue, as well as create a larger stock of affordable homes.” Study Co-Author and Legal & General Corporate Affairs Director John Godfrey notes: “With affordability and job opportunities at the top of millennials’ list of reasons why they would move, there clearly needs to be a rebalancing of priorities in order for this demographic to step onto the housing ladder. Median income for millennials in the U.S. has risen 24 percent since 2012, but the median cost of a home has risen by 86 percent, nearly four times that. This discrepancy is unsustainable.” Legal & General’s study looks not only at housing affordability, but also at geographic and demographic choices based on age and life stage, and at various drivers shaping these choices, including the duality of wage stagnation and the rising cost of housing. Future segments will look in depth at the intergenerational housing gap; home ownership on U.S. Millennials’ bucket list; student debt and the cost of healthcare; and where Millennials stand on retirement and other savings vehicles. # # # Media Contact: For more information on the 2021 U.S. Millennials and Home Ownership study, or to see a copy of Part 3 of the report, please contact: Meir Kahtan: +1 917-864-0800 Meir Kahtan Public Relations, LLC Notes To Editors The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions. About the Study Legal & General undertook proprietary research into the attitudes and changes, as well as geographic shifts, U.S. Millennials are experiencing in relation to home purchases and affordable housing. The U.S. Millennials and Home Ownership research was compiled using original survey data 875 U.S. based Millennials who don’t own a property, then segmented into three distinct age groups and other demographic markers. The survey work was carried out by Legal & General. Fieldwork was undertaken during March and April 2021. All surveys were carried out online. About Legal & General Group Established in 1836, Legal & General is one of the UK’s leading financial services groups and a major global investor, with international businesses in the U.S., Europe, Middle East and Asia. With over $1.4 trillion in total assets under management, Legal & General is the UK’s largest investment manager for corporate pension schemes and a UK market leader in pension risk transfer, life insurance, workplace pensions and retirement income. About Legal & General Group Established in 1836, Legal & General is one of the UK’s leading financial services groups and a major global investor, with international businesses in the U.S., Europe, Middle East and Asia. With over $1.4 trillion in total assets under management, Legal & General is the UK’s largest investment manager for corporate pension schemes and a UK market leader in pension risk transfer, life insurance, workplace pensions and retirement income. Contact Details Meir Kahtan +1 917-864-0800 Company Website

October 14, 2021 09:00 AM Eastern Daylight Time

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South Florida Real Estate Trends for Fall 2021

Miami Luxury Waterfront Homes

Since the start of the COVID-19 pandemic and work-from-home orders, buyers have been flocking to Miami and nearby areas in South Florida. And it's not just homeowners — companies including Microsoft, JetBlue Airways and Goldman Sachs have recently moved their headquarters to Florida. The city is also luring in Tech crowds thanks heavily to the Mayor, Francis Suarez, who has been targeting Silicon Valley. These trends have seen billionaire businesspeople make the move to Miami while the local economy has seen a boom as of late. Although it's hard to say if this particular trend will continue as COVID-19 carries on, it's not unbelievable to think that workers and businesses alike may continue to take up permanent residence in the area. When it comes to real estate, luxury homes and condos continue to be in high demand through the fall months and with listings moving fast and limited availability, average home prices have risen exceptionally in the last year. Miami recently surpassed L.A. as the most expensive housing market, coming in second only to New York City. Florida has seen a massive trend of transplants from big cities, including New York & California, where homeowners are used to paying top-dollar for real estate and higher taxes. As such, luxury properties have been flipping for record profits with some garnering nearly three times the original investment within a short span. Last month, a waterfront estate in Miami Beach was flipped for nearly a 50% gain in just 4 months. It sold for $19 million in May of 2021 and for $28.1 million in September. Flips for luxury single-family homes are becoming more common due to the low inventory of houses available for sale in South Florida. "This market is truly unique," says Samantha Joelle Elenson, a realtor with ONE Sotheby's International Realty for nearly a decade. Miami is thriving with its growing population. The local entertainment and culture scenes are expanding to accommodate the city's newest residents. "Miami is at the forefront for the place to be," Elenson says. The city saw a surge of restaurants open and supper clubs are gaining momentum. Last season, New Yorkers notoriously booked reservations in Miami's top restaurants months in advance so locals planning a night out would be wise to book ahead — something Miami locals may need to adjust to. "Our city is attracting various industries and people for different reasons," Samantha explains. "I was getting calls from out-of-state clients looking to escape to Miami for their freedom as they put it. There was also a tech wave and all of a sudden Silicon Valley was looking at Miami. After the Presidential election and proposed tax adjustments, we began seeing a migration of billion-dollar businesses relocate headquarters here along with their employees. The surge of new residents caught the attention of top hospitality groups like Major Food Group from New York, which opened the almost impossible to get into Carbone and ZZ's. The city is evolving quickly and as a result new opportunities are emerging." When it comes to real estate pricing, it's clear to see this trend continuing well into the fall of 2021 according to the data presented by Samantha's Brokerage, ONE Sotheby's International Realty, which is a leading luxury firm in South Florida. The Trends report can be viewed at It presents the only market report focused on Florida’s East Coast. Data is presented from a macro perspective down to a city level from Miami to Cocoa Beach. October is now well underway and although the market in neighborhoods throughout South Florida shows signs of a shift toward seasonal trends, buyer competition, particularly among domestic newcomers, is expected to continue. Pricing for single-family homes and condominiums should hold steady or see a slight decrease through the remainder of 2021. Thanks to buyer competition, in August 2021, more than 27% of homes were sold above the asking price. By comparison, February 2021 saw just 13% of the area's homes sold above asking. In August 2021, Miami-Dade County saw the highest average sales price. Single-family homes sold for an average of $995,538 — a 32% increase over the August 2020 average, while condos sold for an average of $556,225 — also a 32% increase over August 2020 numbers. "Buyers are struggling to get properties at asking with phenomenal terms," Samantha shares. The county saw more than 1,247 transactions close in August after an average of 41 days on the market. Homes in neighborhoods such as South Miami, Miami Beach, Surfside, Golden Beach and Bay Harbor had average sales prices exceeding $1 million with luxury homes Bay Harbor Islands boasting the highest average sales price at $8.625 million and homes in South Miami selling for an average of $1,184,063 — 26% more than in August 2020. Throughout Miami-Dade County, available listings have increased slightly over the past few months, with 3% more available listings in August than in July 2021, when available listings hit a record low. As the availability of homes for sale increases in South Miami and other neighborhoods throughout Miami-Dade, average sales prices are seeing a slight downward trend. However, the Miami housing market remains hot and competition among buyers is at an all-time high, meaning homes are selling fast and sellers are seeing full-price offers and bidding wars over properties. As fall progresses, it's expected that competition for luxury homes in South Miami and other sought-after communities in the area will continue. "Clients traveled this summer as countries reopened but the housing demand remained high even without their presence," she says. "I expect as the season approaches those who were unsure of an address in Miami, will return to the sunshine state where they happily found refuge last season with all of their friends." Overall, the South Florida real estate market continues to thrive in the fall of 2021. Competition is at all-time highs while average sale prices remain among the highest in the country. About Miami Luxury Waterfront Homes One of ‘America’s Best Real Estate Agents’ as ranked by REAL Trends WSJ, native Floridian Samantha Joelle Elenson specializes in waterfront luxury properties, beachfront condominiums, and upscale property developments in and around Miami and Broward County. Raised in Golden Beach, Florida, Samantha is a third-generation real estate professional who draws on more than 40 years of family real estate development and investment experience. Since joining ONE Sotheby’s International Realty in 2012, Samantha has achieved residential real estate sales totaling more than $75 million. Her goal is to connect clients with the finest real estate properties in South Florida and provide each buyer or seller with personalized customer service complemented by her exclusive network, shrewd negotiating skills, and professional expertise. Her concierge approach to her clients and unrelenting passion for real estate are hallmarks of her service. Visit Contact Details Miami Luxury Waterfront Homes Samantha Joelle Elenson +1 786-393-4793 Company Website

October 14, 2021 08:03 AM Eastern Daylight Time

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QX Global Group further augments its US Leadership Team

QX Global Group

QX Global Group, a leading knowledge process outsourcing company with a growing presence in North America, has brought onboard Mr Kyle Wilbur as Vice President, Sales, QX Finance & Accounting, further strengthening its senior management team in the US. At QX, Mr Wilbur will play an important and strategic role in the company’s expansion plans for the US. He was previously associated with University Loft Co. as Director of Sales and brings with him a wealth of experience in the student housing and property management sectors. His knowledge and expertise in leadership roles includes university housing expansion projects, on-site production management, and vendor relation management, while exceeding sales targets and providing on-floor sales training. Sharing his comments on the appointment, Mr Ravi Kurani, Country Head, North America, said, “With the addition of Kyle to our Senior Management team in the US we are confident of achieving the growth and success we have planned for the region. His grasp of the student housing and property management sectors will help strengthen our plans for these specific domains.” “The unique offerings of QX Global Group would add significant value to organizations that seek to enhance and transform their business processes. I am looking forward to working closely with the team to bring to fruition our ambitions for the US.” said Mr Kyle Wilbur, VP, Sales, QX F&A. The US is a strategic growth market for QX Global Group with close to 70 active clients in accounting, finance and recruitment processes. The company plans to double its number of clients and add offices in New York, Austin and Chicago, in addition to its existing headquarters in New Jersey. Follow Us On Facebook, LinkedIn, Twitter and YouTube To know more about our capabilities and success stories, Click Here About QX Global Group QX Global Group is a leading provider of business process management services. With over 17 years of accounting and recruitment process outsourcing experience, we help our clients unlock business value by improving process efficiencies and automation in the accounting and recruitment function to enable business transformation. We are based out of the UK with offices in the USA, Canada, Australia and India. Contact Details QX Global Group Vishal Kurani +1 646-693-9693 Company Website

October 13, 2021 11:09 AM Eastern Daylight Time

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DealCloud Transforms Real Estate Investment Management with All-in-One Deal and Pipeline Platform


Intapp (NASDAQ: INTA), a leading provider of industry-specific, cloud-based software solutions that enable connected professional and financial services firms, today announced expanded functionality of its DealCloud solution specifically focused on meeting the complex and unique needs of real estate investors. With enhanced visualization of pipeline and properties, map-based property discovery, and streamlined analysis, DealCloud real estate investment software provides the most comprehensive management solution available. Key enhancements to DealCloud for real estate include: Partnership with Esri — Using map data from this market leading provider, users can now evaluate properties and deals alongside location-based geographic and demographic intelligence within the DealCloud platform. When combined with a client’s proprietary data, the customizable dashboard serves as an all-in-one location to find pertinent property information. Card-Based Widget View — Desired information for each property or cluster of properties now appears in a card-based format that helps users visualize and organize properties in the pipeline, tasks for due diligence and execution, results and revenues for investor reporting, and the myriad of interconnected relationships required to source and finalize any deal. Users can now easily organize every property or deal under evaluation by stage or status, and move deals through the process with a simple drag-and-drop interface. Map-Based Discovery — Users can complete a full analysis right from the map without having to access each entry’s detail page. New features include a map-pin design and clustering mechanism to facilitate exploration and discovery, updated map pin pop-up windows that provide summary information and an image, filters that narrow properties by entry characteristics, and maps driven by latitude and longitude values to allow deeper exploration of properties and plots of land. AI-Assisted Relationship Intelligence — This tool centralizes and organizes a firm’s relationship network and helps firms maintain current relationship information without manual data entry. Given the complex nature of relationships in the real estate market, this technology brings clarity to the matrix of contacts, including brokers, intermediaries, contractors, staffers, and consultants who present opportunities for the firm and bring insight to pre-market deals. These and other enhancements to the DealCloud solution help real estate investment clients source pipeline opportunities, increase workflow efficiency, and ease diligence and reporting across all property types and professionals in various geographical locations. The solution also features third-party integrations that let users pivot data and aggregate information in different formats through different lenses. In addition to the Esri partnership, databases include FactSet, Pitchbook, Preqin, PrivCo, SourceScrub, Dun & Bradstreet, SPS, and S&P Global Intelligence. “Our real estate investment and brokerage clients need extensive mapping, geographic data, and imagery to efficiently execute investments and provide clients with the best outcomes on dispositions,” said Ben Harrison, President of Financial Services at Intapp. “When a firm’s proprietary information database automatically aggregates multiple third-party resources and lets investors process information from any device, deals move faster, more efficiently, and with better insight. This functionality is lightyears faster than juggling Microsoft Excel spreadsheets and disparate databases.” For more information on DealCloud real estate investment software please see the resources below or contact us for a personalized demo: Blog Post: Three Must-Have Property Management Software Features for Real Estate Investors Case Study: Kairos Investment Management Company Case Study: Kayne Anderson Real Estate Blog Post: Build Strong Deal Pipelines Using Real Estate Fund Software About Intapp Intapp makes the connected firm possible. We help professional and financial services firms better connect their people, processes, and data through AI-powered software solutions. Trusted by approximately 1,600 of the world’s premier private capital, investment banking, legal, accounting, and consulting firms, Intapp offers an end-to-end solution purpose-built to help modernize these firms. Intapp facilitates greater team collaboration, digitizes complex workflows to optimize deal and engagement execution, and leverages proprietary AI to help nurture relationships and originate new business. Intapp helps firms increase profitability and investment returns, operate more efficiently, and better manage risk and compliance. For more information, visit and connect with us on Twitter (@Intapp) and LinkedIn. Contact Details Intapp Ali Robinson +1 678-909-0703 Company Website

October 13, 2021 09:02 AM Eastern Daylight Time

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Wheeler Real Estate Investment Trust, Inc. Appoints M. Andrew Franklin as Chief Executive Officer and President

Wheeler Real Estate Investment Trust, Inc.

Effective today, Wheeler Real Estate Investment Trust, Inc. (the “Company” or “Wheeler”) (NASDAQ: WHLR) announces the appointment of M. Andrew Franklin to the role of Chief Executive Officer and President. Mr. Franklin was previously interim Chief Executive Officer, a position he held since July 2021. Prior to Mr. Franklin’s role as interim Chief Executive Officer, he was the Company’s Chief Operating Officer since February 2018, Senior Vice President of Operations since January 2017, and Senior Vice President of Asset Management since October 2015. Mr. Franklin joined Wheeler in June 2014 as an Asset Manager. “The board of directors is pleased to recognize Andy’s significant contributions to the Company and we are confident that under his stewardship Wheeler will continue in its ongoing efforts to improve the Company’s capital structure and execute upon growth and strategic opportunities available to it,” said Stefani Carter, Chair of the Company’s board of directors. Headquartered in Virginia Beach, VA, Wheeler Real Estate Investment Trust, Inc. is a fully integrated, self-managed commercial real estate investment trust (REIT) focused on owning and operating income-producing retail properties with a primary focus on grocery-anchored centers. Please visit: Contact Details Investor Relations Contact: Mary Jensen +1 757-627-9088

October 12, 2021 11:46 AM Eastern Daylight Time

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Independent Proxy Advisory Firm Glass Lewis Recommends Common Stockholders Vote “FOR” All Special Meeting Proposals

Wheeler Real Estate Investment Trust, Inc.

Wheeler Real Estate Investment Trust, Inc. (the “Company” or “WHLR”) (NASDAQ: WHLR) today announced that independent proxy advisory firm, Glass, Lewis & Co., has recommended in its report issued on October 7, 2021 that WHLR common stockholders vote “FOR” all of the proposals in the Definitive Proxy Statement filed by the Company on October 4, 2021 relating to the removal of any cumulative dividend rights of holders of the Company’s Series A Preferred Stock and Series B Preferred Stock. WHLR common stockholders are reminded that their vote is important, no matter how many or how few shares they own. The Company’s board of directors recommends that common stockholders vote “FOR” all of the proposals at the Company’s November 3, 2021 Special Meeting of Common Stockholders. If you would like copies of the Definitive Proxy Statement filed by the Company in connection with the 2021 Special Meeting, require assistance voting your shares, or have questions about any of the proposals, please contact Okapi Partners LLC: Okapi Partners LLC 1212 Avenue of the Americas, 24th Floor New York, New York 10036 + 1 (212) 297-0720 (Main) + 1 (877) 566-1922 (Toll-Free) Email: About Wheeler Real Estate Investment Trust, Inc. Headquartered in Virginia Beach, VA, Wheeler Real Estate Investment Trust, Inc. is a fully integrated, self- managed commercial real estate investment trust focused on owning and operating income-producing retail properties with a primary focus on grocery-anchored centers. For more information on the Company, visit Forward-Looking Statements This press release and related discussions should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and other reports filed with the Securities and Exchange Commission. This press release and related discussions contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks, uncertainties, and assumptions that are difficult to predict. These forward-looking statements include information concerning the Company’s plans, objectives, goals, strategies, future events, future revenues, performance, capital expenditures, financing needs and other information that is not historical information. Such forward-looking statements reflect management’s current expectations concerning future events and results of the Company. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Given these risks and uncertainties, stockholders should not place undue reliance on forward-looking statements as a prediction of actual results. Unless required by law, the Company assumes no obligation to update or provide revision to any forward-looking statement at any time for any reason. Contact Details Okapi Partners LLC Chuck Garske, Teresa Huang +1 212-297-0720

October 12, 2021 08:00 AM Eastern Daylight Time

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