Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
Bisnow
Commercial real estate brokers and market experts believe the coronavirus has fundamentally shifted the leasing market to unfamiliar territory, and it is time to begin thinking about creative ways to reposition retail, restaurant, hotel and office properties that are at risk of losing tenants permanently.
Wall Street Journal
Breaking into Silicon Valley has become an even taller order for first-time entrepreneurs during the coronavirus pandemic. Seed financing—the earliest stage of startup investing and the start of many technology success stories—has borne the brunt of the pandemic’s hit on the venture-capital sector, data shows. While established startups and entrepreneurs have been able to tap investors to keep businesses afloat or start new ventures during the financial upheaval, newcomers say the bar has been r…
Bisnow
Workers are returning to the UK’s flexible offices more slowly than in other European countries, new data shows. Building occupancy in UK flexible offices is just 23%, according to survey data from Workthere, the flexible office advisory division of Savills. That compares to 35% in Spain, 43% in Ireland, 55% in Germany and 57% in the Netherlands. The survey looked at the proportion of people turning up to occupy their space up to mid-July.
PlaceTech.
The developer has chosen Equiem as its partner to deliver a digital tenant engagement app across its mixed-use London campuses. Broadgate, one of London’s largest pedestrianised neighbourhoods, will be the first British Land campus to benefit from the partnership. Over 26,000 people are based at the campus, which attracts more than 19 million visitors each year. The app is designed to help people get the most from their time at Broadgate – whether in their office or visiting its shops and restau…
The Real Deal
News of the company’s interest in the property broke last year, a few months before Facebook announced it was taking 1.5 million square feet of office space in three Hudson Yards buildings on Manhattan’s Far West Side.
Business Wire
Jon Dishotsky, Starcity’s CEO said about the partnership, “We’re thrilled to partner with Greystar to introduce our experience platform to Greystar residents. Through technology, event programming, and nurturing resident relationships, Starcity’s experience platform has consistently demonstrated increased resident retention and industry-leading resident satisfaction.”
Crunchbase
To carry on with its mission-driven work, the Atlanta-based company closed on a Series A funding totaling $10 million on Wednesday. PadSplit brought in $5.7 million back in April and is pairing it with $4.3 million in new funds, founder and CEO Atticus LeBlanc told Crunchbase News. This brings the company’s total fundraise to $14.6 million since being founded in 2017….
CREtech
Lisa Picard is President and Chief Executive Officer of EQ Office, where she leads vision and strategy for the company that is wholly owned by Blackstone. As CEO, Lisa inspires her team, partners and clients to move past legacy assumptions and seek new pathways toward value. She has a deep focus on the physical nature of real estate assets to maximize community and human potential, particularly in this age of rapid automation and technological change.Lisa joined EQ in 2016 as its Chief Operating…
The New York Times
Late last month, Royal Dutch Shell won a deal to build a vast wind farm off the coast of the Netherlands. Earlier in the year, France’s Total, which owns a battery maker, agreed to make several large investments in solar power in Spain and a wind farm off Scotland. Total also bought an electric and natural gas utility in Spain and is joining Shell and BP in expanding its electric vehicle charging business.
Wall Street Journal
Last month, software developer Kevin Lacker tested GPT-3, the latest version of an artificial-intelligence language system developed by San Francisco-based software company OpenAI LP. The system isn’t yet public, but it set off a firestorm in tech circles after OpenAI gave select researchers and developers access so they could provide feedback. They observed its uncanny and unprecedented ability to answer trivia questions, generate long passages of coherent text, design simple software applicati…
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