Latest in Commercial Real Estate Tech News by CREtech

Brookfield, Onex Are Said to Plan $3.7 Billion Bid for IWG

NREI – National

1/16/2018

Zug, Switzerland-based IWG owns office space and competes with New York-based WeWork Cos. (Bloomberg)—Brookfield Asset Management Inc. and Onex Corp. are preparing an offer for IWG Plc that will value the commercial real estate company at about 2.7 billion pounds ($3.7 billion), people familiar with the matter said. Zug, Switzerland-based IWG, which owns office space and competes with New York-based WeWork Cos., said last month it had received an “indicative proposal” for a cash deal from the co…

Diary of an IPO

Redfin Blog

1/16/2018

Redfin CEO Glenn Kelman published the below diary of the company’s IPO on Linkedin on Jan. 16, 2018. Boarding Delta 2989 in Chicago on a Friday night, I left Chris Nielsen, our CFO, in 16D and headed to the bathroom. We’d been scrunched together in the back row of a black SUV for the first five days of our roadshow but now, when I latched the bathroom door, I was alone. I called our chairman to tell him not enough people wanted to buy Redfin’s stock and that our IPO was in trouble. The Sunday be…

Delivery logistics startup Bringg raises $12 million

Chicago Business Journal – General Headlines

1/16/2018

Delivery logistics startup Bringg raised $12 million, bringing its total Series B funding to $22 million, the company announced Tuesday. Investors in the round included Salesforce Ventures, automotive investor Shmuel Harlap and real estate and shipping magnate Eyal Ofer. The company says the new funding will help the company expand its international presence. Bringg now has $31 million in total funding, according to Crunchbase. Bringg, which has offices in Chicago, New York and Tel Aviv, helps…

Apple just snagged another 128K sf in Culver City: sources

The Real Deal – Los Angeles

1/16/2018

Rendering of project at 8777 Washington, with Apple logo (Wikimedia Commons) Apple is moving into Culver City. The technology giant has agreed to lease the entirety of Lincoln Property Co.’s 128,000-square-foot building at 8777 Washington Boulevard in Culver City, The Real Deal has learned. Terms were not disclosed. HBO was set to be the sole tenant leasing at the site, but those plans fell through. Located on the corner of Washington and National boulevards just seven miles east of the Santa Mo…

Apple is the only place you can buy Colgate’s new artificially intelligent toothbrush

Business Insider – Retail

1/16/2018

Colgate unveiled a new smart toothbrush called the It can map your mouth, emit "sonic vibrations," and provide real-time brushing feedback. The toothbrush will cost $99.95, and you can only buy it through Apple. Colgate is teaming up with Apple to sell you a high-tech toothbrush. Called the E1, the "smart" electronic toothbrush gives you real-time brushing feedback, maps your mouth, and uses "sonic vibrations" to remove more plaque, and can upload the data it collec…

SVN | CHICAGO COMMERCIAL COMPLETES SALE OF 312-UNIT CHICAGO MULTIFAMILY PORTFOLIO FOR $26.5 MILLION

SVN International Corp. (SVN)

1/16/2018

Chicago, Ill. (January 16,2017) – SVN | Chicago Commercial has completed the sale of Indian Trails Apartments and Ridge Gardens Apartments for $26.5 million. Combined, the two affordable housing complexes include 312 units. Cody Doran, Assistant Vice President, and Reid Bennett, Senior Vice President, of SVN |Chicago Commercial represented the seller, Indian Trails & Ridge Gardens LLC, in the transaction. The property sold to Sausage King LLC. “This deal provided the buyer a unique opportuni…

Airbnb is poised to expand beyond travel accomodations

Realty Biz News

1/16/2018

Airbnb is setting its sights on disrupting the entire travel industry, not just hotels. In an interview with VentureBeat, the firm’s vice president of engineering Mike Curtis said that personalization could help expand itineraries from end to end, with Airbnb helping to arrange transportation, entertainment and other aspects of its customers trips. Airbnb has already secured a dominant position in the world of accommodations, connecting people and places to stay at any price point in more than 3…

Instacart acquires Toronto-based Unata

TechCrunch – All Stories

1/16/2018

Instacart has today announced the acquisition of Unata, a Toronto-based company that offers a platform for both grocers and consumers to interact digitally. The terms of the deal were not disclosed. Unata’s product, unlike Instacart’s, is a white-label grocery platform, letting grocers anywhere create apps and websites for consumers to order products, complete with coupons, purchase tracking, push notifications, deal suggestions, and more. Unata will continue to operate as an independent subsidi…

These are the Real Estate Brokerages Accepting Bitcoin

The Updater Blog – Agent Tips

1/16/2018

The rise of Bitcoin, a form of cryptocurrency, has piqued the interest of real estate brokerages. For interested sellers, some brokerages are now listing properties with the equivalent prices in Bitcoin. Across the nation, brokerages and clients are now exchanging cryptocurrency for properties. Bitcoin is an experiment for real estate brokerages looking for a competitive edge for their listings. Take a look at the brokerages who are paving the way to a cryptocurrency-ready real estate market. Wh…

CRE in 2018: Change is Afoot

Multi-Housing News

1/16/2018

Mark Rose, Avison Young With the exception of a sprinkling of uncertainty here and there, the commercial real estate industry has been riding high for the last several years, but this year, while sunny skies are still in the forecast, it won’t exactly be business as usual. According to commercial real estate services firm Avison Young’s new report, 2018 North America and Europe Commercial Real Estate Forecast, significant change is on the horizon. Avison Young took the pulse of the office, retai…

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