Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
PlaceTech.
The build-to-rent developer, operator and owner has announced a partnership with technology provider Utopi to build a complete digital infrastructure and optimise smart building technology across its development portfolio. Moda said it intends to become the “first truly vertically integrated, tech-enabled BTR company” and the move would “set a precedent for other players in the space.”
Wall Street Journal
Recreational Equipment Inc. is looking to sell its custom-made new headquarters and allow employees to work from home or other offices, the latest sign that the pandemic is driving companies to ditch central offices to raise cash. The retailer, known as REI, was poised to open the new Seattle-area headquarters this summer after creating a unique building that reflected the company’s outdoorsy image and could serve as a way to recruit new employees. The property features outdoor staircases and b…
Bloomberg
Airbnb Inc. reported tumbling revenue and mounting losses in the second quarter, but the home-sharing startup is still eyeing a stock market debut before year’s end, according to people familiar with the matter.
Virtual APT
VirtualAPT provides digital visualization technologies that significantly reduce days on market and vacancy rates. Our autonomous robots recreate the in-person walkthrough experience by capturing 360° moving videos, bringing storytelling and real estate tours to the next level. Viewers can seamlessly navigate between amenities, units, and neighborhood locations, all within a customizable web interface. We can then layer in interactive graphics, voiceovers or digitally stage a space with Augmente…
Smarking
“‘Ok, how are our office assets in Boston performing vs. our multi-family locations in Dallas?’ I need to be able to do that or I’m not going to be able to make investment decisions. What’s historically been the case is, it’s hard to get data as it relates to how your parking assets are doing. Which is why I’ve been working with the team at Smarking.” – Ryan Holgan, VP Real Estate Asset Management at J.P. Morgan. Try out Smarking’s Business Intelligence free for 3-months, no risk or commitment r…
Taronga Group
AUSTRALIA-BASED venture capital firm Taronga Ventures on Wednesday said it will anchor its Asia headquarters in Singapore, to expand its “real estate-focused innovation and investment ecosystem” for the region. This comes on the back of a recent close of its proptech-focused RealTech Ventures Fund in May, which attracted “significant” investment from strategic investors such as commercial real estate services firm CBRE, German real estate manager Patrizia and Australian office landlord Dexus….
The Real Deal
After testing facial recognition technology on users for years, Facebook will soon have to decide whether to opt in or out of facial recognition for its own employees in New York.
Wall Street Journal
Airbnb Inc. is close to filing to go public in a move that would underscore a surprising rebound for the home-sharing giant and the IPO market. The company plans to file IPO paperwork with the Securities and Exchange Commission later this month, laying the groundwork for a potential listing before the end of the year, according to people familiar with the matter. Morgan Stanley MS +0.77% has been tapped to lead the offering, with Goldman Sachs Group Inc. GS -0.08% also playing a key role, the pe…
Nasdaq
Nasdaq has released its global Sustainability Report for 2019, highlighting major milestones and critical initiatives, including achieving carbon neutrality, launching new ESG-specific solutions for clients, and being recognized globally for its ten diversity and inclusion programs. The report offers an overview of Nasdaq’s sustainability efforts and progress as part of its long-term commitment to ESG advocacy, oversight, and philanthropy….
Bloomberg
Kroger Co. is setting up an e-commerce marketplace open to third-party vendors, part of the grocery-store operator’s bid to wrest web sales away from giants like Amazon.com Inc. and Walmart Inc. The owner of the Fry’s and King Soopers chains is working with online commerce specialist Mirakl to offer tens of thousands of additional goods, including housewares and toys, the companies said Tuesday in a statement. The partnership will let Kroger offer “more-relevant products” by broadening its e-com…
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