Latest Trends and Insights in Real Estate Technology

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  • CBRE tech boss joins board of AI platform

    REAL ESTATE WEEKLY

    Okapi, a commercial real estate-focused artificial intelligence (AI) platform, has raised $5.5 million in Series-A financing. The funding round was led by Marius Nacht, the co-founder and chairman of Check Point Software Technologies and a hi-tech entrepreneur, and brings the total amount of capital Okapi has raised to $8.4 million. Founded by Iris Tsidon and Maya Gal, Okapi is a machine learning-powered software platform that analyzes disparate streams of property-related data to provide …

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  • Not betting on iBuying would be an “existential threat”: Zillow CEO

    THE REAL DEAL

    Since returning in February to lead the company he founded 14 years ago, Rich Barton is muscling Zillow into the crowded instant-homebuying market, setting the listings giant on the course for a major overhaul. The iBuying craze offers sellers a chance to quickly offload their property to Zillow, giving sellers fast access to cash to buy other homes. It’s a business with extremely thin margins, and requires the company to set aside massive amounts of money to make the purchases. The initiativ…

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  • NavigatorCRE Appoints Deloitte executive as COO

    NAVIGATORCRE

    Seattle, WA (October 9, 2019) —NavigatorCRE (www.navigatorcre.com), the leading Data analytics and visualization platform for the commercial real estate industry has announced the appointment of Kevin Shtofman as Chief Operating Officer. Prior to joining Navigator, Kevin’s 16-year career includes positions at Deloitte, EY, and Morgan Stanley. Most recently he served as a Global Technology Strategy Lead at Deloitte, advising real estate developers, operators, and investors, with clients across…

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  • Brooklyn Office Space Available But Only for Cutting-Edge Startups

    WSJ

    At just about any co-working space, Max Haot’s five-person outfit, Launcher, would win the prize for most intriguing startup. His company is designing a 3D-printed, ultra fuel-efficient rocket engine that will launch tiny satellites into orbit. If you can build a rocket that requires a little less fuel, he says, “You can double or triple your payload, and your revenue.” But at New Lab, the soaring Brooklyn Navy Yard co-working space where Mr. Haot rents an office, there’s plenty of compe…

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  • Boston Fed President Warns of Co-Working Risks to Property Market

    WSJ

    A Federal Reserve Bank president who has been warning about prices rising too high in the commercial real-estate market has a new source of concern: co-working. In an interview, Boston Fed President Eric Rosengren highlighted a potential misalignment in the property market. He noted that landlords are offering long-term leases to co-working firms, which then spend money to build out the space and rent it on a short-term basis.

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  • SoftBank’s Damage From Uber, WeWork Could Exceed $5 Billion

    BLOOMBERG

    Masayoshi Son’s startups have had a rough few months, from a botched initial public offering by WeWork to a sharp decline in shares of Uber Technologies Inc. Now analysts are beginning to calculate that the damage for Son’s SoftBank Group Corp. will likely reach into the billions of dollars. Mitsubishi UFJ Morgan Stanley Securities Co. cut its profit estimate for SoftBank’s Vision Fund, its main investment vehicle, by 580 billion yen ($5.4 billion) to an operating loss of 367.6 billion yen fo…

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  • Newmark Group, Inc. Acquires Innovative CRE Workflow Solutions Provider Workframe, Inc.

    SEEKING ALPHA

    NEW YORK, Oct. 2, 2019 /PRNewswire/ — Newmark Group, Inc. (NMRK) (“Newmark”) (the “Company”), which operates a leading, global, full-service commercial real estate (“CRE”) services business, Newmark Knight Frank (“NKF”), today announced that it has acquired the innovative workflow solutions provider Workframe, Inc. (“Workframe”). The Workframe software tool is a workflow solution that was built to address the unique complexity of the CRE project lifecycle. Newmark’s strategic acquisition of …

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  • Quicken Loans Becomes the First Mortgage Lender With Ability to Perform eClosings in All 50 States

    PR NEWSWIRE

    DETROIT, Oct. 7, 2019 /PRNewswire/ — Detroit-based Quicken Loans, America’s largest and most tech-forward mortgage innovator, is now the first lender to develop the capabilities to perform electronic mortgage closings (eClosings) in all 50 states. Since completing its first eClosing in November 2017, Quicken Loans has completed 96% of all electronic mortgage closings in the country, according to the company’s volume registered with the Mortgage Electronic Registration Systems (MERS) eRegistry….

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  • WeWork leases in Soho, Flatiron most at risk: report

    THE REAL DEAL

    WeWork’s recent struggles could put many of its leases in jeopardy. But according to a new report, its Soho and Flatiron deals are the most vulnerable if co-working rates drop. The company’s lease obligations are only 2 percent below market rate in Soho and 4 percent below in Flatiron, the report from Ackman Ziff says. The firm’s average rent in Manhattan is $58.91 per square foot, 20 percent below the average rate of $74.15. Its highest concentration of space is in the Financial District,…

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  • NAIOP New Jersey to Present The Future of Mobility: Autonomous Vehicles & Parking Trends

    NAIOP NJ

    Fully autonomous vehicles may be a few years down the road in New Jersey, but now is the time to prepare. Industry and municipal leaders will discuss the potential impact of this sea change on commercial real estate, transit hub development, parking costs and other issues affecting businesses and communities throughout the Garden State.

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