Latest in Commercial Real Estate Tech News by CREtech

Co-working firm Jay Suites launches conference-room platform

THE REAL DEAL

2/25/2019

Flexible office space firm Jay Suites is venturing into the conference-room leasing business. The New York-based firm, which has 700,000 square feet of office leased in the city catering to mid-size enterprise clients, has opened a 20,000 square foot space at 515 Madison Avenue and a 22,000 square foot space at 15 West 38th Street. The spaces, named Jay Conferences, will be filled with conference rooms and equipment for hire, starting at $99 a day per person. The need for conference room-l…

Corporate Venture Capital (and its inevitable conclusions)

MEDIUM

2/25/2019

The good news is, there’s a ton of capital in the venture arena these days. That’s probably a confluence of two major tends: 1) an extended economic expansion where firms have excess liquidity and need to find clever ways to invest it and 2) the realization that technology is taking over every industry sooner or later (i.e. hedging). The bad news is, there’s a ton of capital in the venture arena. The basics of supply and demand dictate that some silly things start happening when too much capit…

The Rise of the WeWorking Class

NY TIMES

2/25/2019

IMAGINE YOU TRAINED an artificial intelligence on a comprehensive stock-photo set of every boutique-hotel lobby from Palm Springs to Stockholm to Milan, then connected it to a five-story 3-D printer fully furnished with pendant-dome lamps, waxy leaves and old-school hip-hop lyrics. The output would be a WeWork. So much serene, lavish and mechanical attention is allocated to every detail: the neon and the daybeds and the fiddle-leaf figs, the wallpaper and the playlists and the typefaces. The new…

Goldman Sachs invests in construction finance platform Rabbet in $8 million Series A

RABBET

2/22/2019

Austin-based SaaS platform brings efficiency and faster decisions to the $1.3 trillion U.S. construction industry (AUSTIN, Texas) Feb. 20, 2019 – Rabbet, a leading intelligent construction finance platform, announced today it has closed an $8 million Series A round backed by Goldman Sachs’ Principal Strategic Investments group, QED Investors and Camber Creek. Rabbet brings efficiency, accuracy and visibility to the complex construction finance industry. The platform uses machine learning to …

Penny S. Pritzker To Deliver Keynote At CREtech Los Angeles Event

CREtech

2/22/2019

Largest West Coast conference in commercial real estate tech in 2019 coming to Los Angeles March 27 and 28th New York, NY (February 22, 2019) — CREtech (cretech.com), the largest event, data and content platform covering the commercial real estate tech industry, has announced that Penny Pritzker, former U.S. Commerce Secretary under President Obama, and Founder/Chairman of PSP Partners will deliver the Keynote at the upcoming CREtech conference in Los Angeles on March 27-28. Ms. Pritzker will s…

Data Wars

THE REAL DEAL

2/22/2019

In the last week of October, commercial real estate brokers all over the country received a package via snail mail from CoStar Group. Inside was the informational equivalent of a dirty bomb — the latest salvo in the data giant’s legal battle against its main rival, Missouri-based Xceligent. When brokers opened the UPS envelope, they found a brochure with a carefully assembled selection of news clippings and letters about Xceligent’s alleged theft of CoStar’s data. It also included a congressiona…

Zillow CEO stepping down, co-founder to take over

CRAINS NY

2/22/2019

Zillow Group Inc., the housing search website that’s taken a hit to its stock price as it pursues an ambitious plan to buy homes and originate mortgages, is bringing back its first chief executive officer to lead the transformation. Chief Executive Officer Spencer Rascoff is handing the reins to Executive Chairman Rich Barton, 51, who co-founded the company in 2005. Zillow, whose shares are down 46% since June, announced the move along with a quarterly earnings report that shows short-term resu…

Why coworking is coming to hotels

JLL

2/22/2019

It’s not just offices that are adapting to new, flexible ways of working and an increasingly mobile workforce. Growing numbers of hotels are also looking to get involved in the flexible space boom, transforming underused spaces in communal areas or outdated business centers into modern, vibrant coworking spaces. The Virgin hotel in Chicago has a monthly membership model for its coworking space, the Virgin Commons Club, which includes a bar, private meeting areas, free drinks, a library, Wi…

Osram Unveils Digital Tunable White System

COMMERCIAL PROPERTY EXECUTIVE

2/22/2019

Osram, an international lighting and technology company, has introduced a digital tunable white (TW) system based on Digital Addressable Lighting Interface (DALI-2). DALI-2 is designed for human-centric lighting applications and is suited in educational, commercial office and health-care settings. The firm’s TW system mimics the natural daylight cycle by reproducing the hues and brightness of natural light. This dynamic natural light positively impacts human well-being by helping to regulate …

Introducing CNERGY: The Next Generation Real Estate Transaction Management Platform is Now Live!

CNERGY

2/22/2019

In the past 10 years, the commercial real estate industry has been experiencing a rise in global capital flows leading to increased competition for commercial real estate assets and driving up asset prices. CRE investment firms are now under intense pressure to maintain their competitive position in the market. But out-of-date tools and overly complex transaction management practices stifle their efforts in the face of growing competition. From deal discovery to execution, the entire process…

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Co-working firm Jay Suites launches conference-room platform