Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
Bloomberg
Blackstone Group Inc., which led Wall Street’s initial foray into the single-family rental business, is making a new investment in suburban houses at a time when the Covid-19 pandemic is pressuring traditional commercial real estate.
CREtech
The pandemic has challenged business leaders to rethink operations and how work gets done, and in this new world, technology is key to facilitating safe spaces where employee experience remains a priority. Historically, CIOs have been responsible for implementing and managing technology; proptech is important for CIOs to execute heightened safety measures and govern office spaces with a truly holistic vision.
Fifth Wall
In episode 24 of Fly on the Wall, Fifth Wall’s Brendan Wallace sits down with Conor Flynn, CEO, Kimco Realty Corporation, who shares lessons from navigating the COVID-19 crisis with a portfolio that consists of both essential and non-essential retailers. Conor reveals the technology that Kimco Realty Corporation has developed to help non-essential retailers as they look to reopen storefronts, how landlord-tenant relationships have evolved during this period, and even touches on the company’s gre…
Bloomberg
The mystery of Mark Carney’s next job is solved. Brookfield Asset Management Inc., the global investment firm with about $550 billion in assets under management, has hired the former Bank of England governor to lead an ambitious expansion into environmental and social investing. The Toronto-based company plans to develop a group of funds that try to marry positive social and environmental outcomes with strong investment returns. Carney will join Brookfield as vice chairman and steer its environm…
San Francisco Chronicle
Pinterest terminated a massive 490,000-square-foot lease at San Francisco’s unbuilt 88 Bluxome project, citing a shift toward more remote work amid the coronavirus pandemic. The company will instead continue leasing four existing San Francisco offices, including 651 Brannan St., and pay a one-time fee of $89.5 million to cancel the Bluxome lease. The cancellation is the strongest sign yet of how the coronavirus is reducing the tech sector’s once-voracious appetite for office space….
CNBC
With Wall Street preparing for more of its traders and bankers to return to offices next month, a shift underway at JPMorgan Chase may have lasting implications for the entire industry. Workers in the firm’s corporate and investment bank, an industry heavyweight with 60,950 employees, will cycle between days at the office and at home, keeping the ability to work remotely on a part-time basis, according to Daniel Pinto, head of the massive division and co-president of the banking giant….
Housingwire
The line between traditional iBuyer and brokerage is getting ever-so-blurry for venture-backed startup Opendoor. The company, armed with $4.3 billion in debt and equity funding, is looking to bring aboard real estate agents in Phoenix, Arizona, to support its “Home Reserve” iBuying platform, according to Inman, which spotted a jobs posting Friday morning. A spokesperson for Opendoor told HousingWire that the company is looking to staff its Home Reserve platform with independent contract agents, …
Business Insider
The ecommerce titan plans to start rolling out the technology it uses at its Amazon Go stores to Whole Foods locations in Q2 2021, according to the New York Post. Bringing the technology, which tracks shoppers and products so consumers can grab their items and leave without stopping to physically check out, to Whole Foods’ over 500 locations would be a major accomplishment for Amazon because it’d prove that it can retrofit existing stores with its technology….
TechCrunch
RealPage, a publicly traded full-service property management technology firm with over 12,200 clients worldwide, today announced that it has acquired Stratis IoT, a startup that provides IoT services to the real estate industry, with a focus on access and energy management tools.
CREtech
COO of Oxford Properties Dean Hopkins and Emily Wright from Estates Gazette discuss how innovations in technology and data analytics are adding tremendous value in commercial real estate management. Dean outlines how the latest dashboards deliver true command and control capabilities. New to real estate, but with deep experience in technology, Dean gives a fresh perspective on how technology, data analytics, and machine learning are transforming the industry.
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