Latest Trends and Insights in Real Estate Technology

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  • CREXi Completes $63M Las Vegas Portfolio Auction

    CONNECTMEDIA

    Marina Del Rey, CA-based CREXi concluded the online auction of 11 properties on behalf of Clark County, NV. Bidders in the $63 million total sale included private investors, developers and multiple publicly-traded builders and REITs, with heavy competition continuing throughout the auction. “We are thrilled with the outcome of this auction on behalf of our client,” said CREXi’s Mike DeGiorgio. “Despite strong reserve pricing set at appraised values, we were able to quickly generate 159 bids at o…

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  • Harlem Capital Completes $40M Maiden Fund

    FINSMES

    Harlem Capital, a NYC-based diversity-focused venture capital firm, closed Harlem Capital Partners Venture Fund I, LP, at $40.3m.  Fund I has 55 limited partners including TPG, State of Michigan Retirement Systems, Vanderbilt University, the Harry and Jeanette Weinberg Foundation, W.K. Kellogg Foundation, Consumer Technology Association, and Dorm Room Fund. 15 of Harlem Capital’s LPs are general partners of other funds and 50% of Harlem Capital’s individual LPs are women or people of color, whic…

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  • New Amazon tool simplifies delivery of containerized machine learning models

    TECHCRUNCH

    As part of the flurry of announcements coming this week out of AWS re:Invent, Amazon announced the release of Amazon SageMaker Operators for Kubernetes, a way for data scientists and developers to simplify training, tuning and deploying containerized machine learning models. Packaging machine learning models in containers can help put them to work inside organizations faster, but getting there often requires a lot of extra management to make it all work. Amazon SageMaker Operators for Kubernetes…

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  • Trulia hit with lawsuit over Premier Agent

    THEREALDEAL

    Trulia was slapped with a federal lawsuit assailing its Premier Agent advertising program as “unfair” and “deceptive,” and accusing it of diverting home buyers away from listing agents. According to the suit, which seeks class-action status, the Zillow Group subsidiary connects buyers with agents who “have no actual connection to the property being advertised, other than having paid defendant to be presented prominently next to the property.”

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  • WeWork’s London Expansion Checked As Deals Cancelled

    BISNOW

    Deals which would have seen WeWork lease 146K SF of new space in London and a further 80K SF in Glasgow have fallen through as the coworking company reviews its business strategy following its failed initial public offering. Deals for WeWork to lease 80K SF at 43 Brook Green in Hammersmith, 42K SF at 60 Moorgate in the City, 22K SF at 3 Paris Garden in Southbank and 20K SF at 1 Ariel Way in White City are now no longer progressing, according to Property Week. It said that in some cases landlords…

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  • Berlin-based realxdata raises approx €5 million from SIGNA Innovations and Ventech finance, to accelerate growth

    EUSTARTUPS

    realxdata GmbH, one of Germany’s leading AI and smart data companies for the real estate and financial sectors, has successfully raised Series A capital. SIGNA Innovations, the venture capital arm of the SIGNA Group (founded by Austrian entrepreneur René Benko) leads the about €5 million round, with participation from Ventech, a leading global venture capital firm based in Paris, Munich and Helsinki. realxdata, founded in 2016, intends to use the new capital towards the development and expansion…

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  • Construction startup Katerra closing Phoenix factory

    THEREALDEAL

    Katerra, a Silicon Valley startup backed by SoftBank, has closed a large factory in Phoenix, weeks after one of its co-founders left the firm. The Menlo Park–based firm, which is valued at more than $4 billion, says it uses tech to deliver construction projects inexpensively. But it has a history of delaying or abandoning projects and in recent months has laid off hundreds of employees. The Phoenix factory, which was the company’s first, had been used to prefabricate building components for Kate…

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  • How Automation in Real Estate Became A $100 Billion Opportunity. Who Will Be Disrupted?

    FORBES

    In 2018, the U.S. housing market increased its value by $1.9 trillion, bringing the total market size to $33.3 trillion, with an annual sales volume of $1.7 trillion. With fees around real estate transactions that can consume up to 10% of the property sale price, the size of the new dynamic sector that I will write about below can total up to $170 billion per year (with technology eating $100 billion of it as per venture capitalists). Obviously, half of the fees are going to realtors, who are ve…

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  • The New Way Companies Invest in Workplace Technology Infrastructure

    GLOBEST

    Companies are adopting bring-your-own device programs, where employees use their own personal devices on the job. These programs allow employees to use their device of choice on site—increasing efficiency and nixing the standard one-to-one system where a company needs to own the technology infrastructure from end-to-end.

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  • Acuity Invests in Indoor GPS with Acquisition of LocusLabs

    EDISONREPORT

    Acuity Brands, Inc. (AYI) announced today it has acquired LocusLabs, Inc., a leading indoor mapping and location platform. The LocusLabs software platform supports navigation applications (apps) used on mobile devices, web browsers and digital displays in airports, event centers, multi-floor office buildings and campuses. Visitors employing LocusLabs’ software can easily search, explore and navigate large, complex indoor spaces.

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