Fintech real estate platform Backflip has raised two private credit funds totaling $30 million of equity, in conjunction with $154 million on asset-backed financing to fund residential transition loans or “fix-and-flip mortgages.”
Real estate entrepreneurs can use the platform to acquire and renovate single-family homes using Backflip’s technology and capital products to analyze, source, and finance residential real estate investments. The platform also provides data and financing strategies as entrepreneurs attempt to scale their businesses.
“Raising these private credit vehicles and the warehouse facilities allows Backflip to offer ever-improving capital products to our members doing the important work of rejuvenating obsolete homes,” Backflip Co-founder and COO Jake Rome said. “We are grateful for the trust and support of our capital partners and are excited to be on the front lines of a rapidly institutionalizing investment asset class.”
Members analyze an average of $10 billion in properties each month through the Backflip app, while the company itself grew its 12-month origination volume 3x year-over-year to a $375 million run rate.
Brazil-Based Aerospace Company Embraer to Invest Up to $70 Million at Perot Field Alliance Airport
Embraer, a Brazil-based aerospace company, is expanding and investing in the U.S. with its maintenance, repair, and overhaul services network to better support its growing portfolio of E-Jets by opening a service center at Perot Field Alliance Airport.
“We are excited to welcome Embraer, a global leader in aviation, to Perot Field Fort Worth Alliance Airport and North Texas,” Hillwood Chairman and CEO Ross Perot, Jr. said. “This new facility will bring 250 high-quality jobs to Fort Worth and North Texas, further strengthening our region’s role as a key hub for aerospace innovation while ensuring that Embraer can efficiently support its expanding fleet of commercial jets in the U.S. We are proud to be a part of this exciting new chapter in their growth.”
Working in concert with the City of Fort Worth, Denton County, and the State of Texas, Embraer anticipates starting its operations in an existing hangar by the middle of 2025, with a second hangar expected to be completed in 2027. Beyond creating 250 aviation jobs, the investment will reach up to $70 million and increase the company’s capacity to service E-Jet customers by 53 percent.
“We are excited to receive the final approval for this important expansion of our MRO business that supports our continued investment in the U.S. market,” Embraer Services and Support President and CEO Carlos Naufel said. “We have a long-standing relationship with the State of Texas and look forward to our partnership with Hillwood at Alliance, and the opening of this new service center will create hundreds of highly skilled jobs in a vital segment for the aviation industry.”
Trilogy Studios to Launch Virtual Production Stage in Fort Worth
Thanks to Trilogy Studios, the largest cinematic volume stage is coming to Texas. With a 23-foot ceiling and a width of 157 feet, the stage will elevate film and commercial production. The facility will also house two other volume stages: a commercial stage and a car processing stage designed for car commercials or interior moving vehicle shots.
“The entertainment landscape is rapidly evolving, and virtual production is at the heart of this transformation,” Trilogy Studios Director Joe Worth said. “We’re proud to offer filmmakers a space where their storytelling can transcend the limits of traditional production. Whether you’re filming a high-stakes action scene, a serene nature backdrop, or an otherworldly fantasy environment, our stage can deliver unmatched quality and creativity.”
Positioned near DFW International Airport, Trilogy Studios becomes the class’ first major virtual production facility in the central U.S. The facility will also feature an LED screen measuring 50 feet wide by 20 feet high. In total, the studio has a combined 19,000 square feet across all three of its stages.