Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
THE REAL DEAL
Three of Compass’ top executives in marketing and product have resigned or been forced out of their roles in recent weeks, becoming the latest casualties of a turbulent C-suite. Eytan Seidman, head of product, resigned last month, according to people familiar with the situation. Khurrum Malik, chief marketing officer, and Max Henderson, Compass’ vice president of product, were let go.
THE REAL DEAL
Being a New York City rental broker has always been a tough gig. But the job is getting even harder. It’s now been exactly one year since StreetEasy began charging a daily $3 fee to post a rental listing on its site — a move that hit brokers in the pocketbook at a time when margins were already thin. The fee — which does not seem to have dissuaded brokers from using the Zillow-owned site — is just one of several stressors that New York City rental brokers are facing….
PR NEWSWIRE
NEW YORK, June 12, 2019 /PRNewswire/ — SquareFoot (www.squarefoot.com), a technology-powered commercial real estate company, today announced the launch of FLEX by SquareFoot, an offering that allows growing companies to select office spaces that are more aligned with their business needs. SquareFoot’s clients will now be able to expand their search for flexible term office space beyond coworking and shared solutions. Clients can move into the private office space they envision without being bur…
THE REAL DEAL
KKR, the investment firm known for company takeovers, has doubled its stake in a company that targets house-flipping. The firm invested another $250 million in New Jersey-based Toorak Capital Partners, which has $1.5 billion in house-flipping loans on its books, according to the Wall Street Journal. Toorak buys loans from firms like LendingHome and PeerStreet, which issue 12-month, high-yield mortgages for home fix-and-flip projects that fetch interest rates between 8 to 12 percent.
GLOBEST
While there is a lot of talk about the benefits of integrating technology into the commercial real estate industry, the biggest benefit is increased productivity and better building operations. For apartment owners—one of the most management intensive asset classes—technology can be a game changer. Investing in technology and IT can drive better productivity and make operations staff happier. Until now, most apartment owners have focused on integrating technology for residents, but technologies …
GEEKWIRE
There are no Salesforce signs in the lobby. The top floor hasn’t been converted into an Ohana room. And believe it or not, some of the products made in these brightly lit offices run not in the cloud but on regular old servers. But if the Seattle region is poised to become Salesforce “HQ2,” as its co-CEO Marc Benioff proclaimed this week, then the place to be right now is the Tableau Software headquarters on the edge of the city’s Fremont neighborhood….
COMMERCIAL OBSERVER
Another retailer is getting into the coworking game. A well-funded startup that wants to help online brands break into brick-and-mortar retail—Showfields—opened up a free coworking space on the top of its Noho building today, the company announced. Unlike other coworking spots, Showfields isn’t trying to replace a traditional office but wants to be a place people can use to get a change of scenery but still be productive, said Tal Zvi Nathanel, the CEO and founder of Showfields, which is p…
BISNOW
Savills has joined CBRE in launching its own flexible office brand, as real estate brokers look to muscle in on the turf of big coworking and serviced office firms. The listed agency firm has launched a new service line called Pivot. It will offer the service to UK landlords, who can use it to provide fully fitted out, turnkey office space for tenants.
PLACER AI
In February, CVS CEO Larry Merlo claimed his company would become a “health care destination”marked by the launch of new Health Hubs. Health Hubs dedicate 20% of the overall store space to health services and aim to focus on high-cost chronic conditions like diabetes. CVS planned to launch a pilot of the program in a few sites in Houston, Texas before determining an overarching strategy.
COMMERCIAL EXCHANGE
ANN ARBOR, Mich.–(BUSINESS WIRE)–Catylist, the leading commercial real estate (CRE) technology provider, announces the launch of Commercial Exchange – a national commercial real estate marketplace where users can search sale and lease availabilities sourced directly from brokers in Catylist’s network of 50+ local commercial real estate platforms in markets across the country. Unlike national listing aggregators, Commercial Exchange focuses on the quality and timeliness of the information and i…
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