Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
PLACETECH
The London Stock Exchange-listed global provider of software to the flexible workspace industry, is enjoying “rapidly expanding US business”, the firm said in a trading update for the half year ended 31 January 2020. Group revenue for the half year was in line with management expectations at £11.4m, an increase of 19% (H1 FY19: £9.6m). Recurring revenue was £9.7m, a 29% increase year on year (H1 FY19: £7.5m), representing 85% of group revenue.
PLACETECH
The UK is leading the way in proptech investment in Europe, a report from Oxford Saïd Business School has uncovered, with 2020 set to be a pivotal period for adoption, subject to overcoming regulatory hurdles. As of June 2019, over $5bn was invested in 805 UK proptech companies, five times more than Germany. PropTech 2020: the future of real estate. Investment in proptech start-ups has been coming from several directions: traditional venture capital funds with diversified portfolios, specialist …
PULSE2
Soil Connect — an innovative digital platform connecting those who have soil with those who need it — announced the launch of version 2.0 of its mobile and web-based apps. Soil Connect — an innovative digital platform connecting those who have soil with those who need it — announced the launch of version 2.0 of its mobile and web-based apps. This brings much-needed modernization to the transport and management of soil, aggregates, and other materials.
THEREALDEAL
A new generation of e-tailers are looking to make their first, risky step into the world of physical real estate, and one real estate-focused venture capital firm sees an opportunity. Fifth Wall Ventures has closed a $100 million fund to invest in such companies, the Wall Street Journal reported. The fund’s investors include public retail landlords like Acadia Realty Trust and Macerich. The fund will connect those companies with potential tenants as part of its strategy.
THEREALDEAL
So-called micro-investing in private real estate is an increasingly accessible option for investors looking to diversify their portfolios with small dollar value investments. Micro-investing allows investors to buy shares of properties and real estate portfolios with buy-ins as little as $5 in some cases, according to Yahoo Finance. The investments work much like real estate investment trusts, but don’t allow investors to buy in specific properties and do not require the high dollar commitments …
CRETech
New York, NY (February 26, 2020) —CREtech (cretech.com), the leading global conference and research company devoted to innovation in the built world, has announced that they will hold their 3rd Annual Trailblazers Summit in Napa Valley on June 17-19 at the stunning Silverado Resort. The Trailblazers Summit was organized to convene the leading thought-leaders, investors, startups, developers and brokers in the real estate and tech sectors. Over three days, attendees enjoy Keynote presentations …
BISNOW
Coworking companies have expanded in recent years to become the leading office tenants in some of the world’s largest real estate markets like London and New York City. The providers were willing to enter into longer lease terms with a higher base rent when many companies were shedding space and wanting shorter commitments. But 10 years of coworking lease data in six of the largest U.S. office markets show landlords view coworking tenants as viable substitutes for any traditional office tenant,…
OPENPATH
LOS ANGELES, CA (Feb. 24, 2020): Openpath, a leader in modern mobile access control, is announcing a partnership with Lincoln Property Company (LPC), one of the largest diversified real estate service firms in the United States. Openpath has been selected as LPC’s technology partner to standardize and bring best-in-class technology solutions across its current portfolio and planned developments of commercial spaces. Openpath’s award-winning platform focuses on integrated technology to provide fr…
PROPERTYWEEK
Proptech investment platform Bricklane has more than doubled the size of its portfolio with the acquisition of 74 rental properties worth a combined £13.6m. The platform, which allows the public to invest in property portfolios for a little as £100, acquired the units from the British Residential Unit Trust in a cash and shares transaction. The units are spread across four buildings in Manchester and Birmingham, and are 93% leased. They were acquired on behalf of Bricklane’s Regional Capital…
BUSINESSWIRE
LOS ANGELES–(BUSINESS WIRE)–Brace, a digital mortgage-servicing platform, today announced that it has raised an additional $10M in Series A funding led by Point72 Ventures. The investment round, which received participation from existing investors, including Crosslink Capital, brings the company’s total funding to $15M in less than two years. The financing will be used to expand the Company’s platform with additional SaaS technology impacting other segments within the lifecycle of mortgage ser…
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