Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
THE NEWS FUNNEL
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CRETECH
Download CREtech’s Monthly Funding Snapshot Report on venture capital investments for July 2019. The heatwave of venture funding continued in July 2019. Investments in private real estate tech companies reached $2.5 billion, a 126% month-to-month increase. During the same period, total deal volume decreased by an estimated 14%, totaling 37 deals.
COMMERCIAL OBSERVER
Like a Soviets-versus-U.S. space race, New York landlords have to figure out which side of the Iron Curtain they want to be on: WeWork’s or Knotel’s. WeWork and Knotel are the two biggest flexible office space providers in the city, competing for tenants and offices with relatively few overt acts of aggression, with both brands nabbing large chunks of space in buildings and sometimes even working with the same landlords….
GLOBEST
In the residential market, more—not less—people are using brokers to buy a home, despite online tools. In fact, more buyers are looking online and following up with expert advice from a broker. The trend is a good sign for the commercial market that technology won’t replace the human touch of the real estate industry. Technology, instead, is becoming a part of the process along with human brokerage.
TECHCRUNCH
WeWork, now known as The We Company, released its IPO prospectusWednesday morning months after filing confidentially to go public. The company indicated plans to raise $1 billion in what is likely a placeholder amount. Backed by billions from SoftBank and its mammoth Vision Fund, the highly-anticipated float is expected as soon as next month. The New York-based company, valued at $47 billion earlier this year, has long been rumored to be plotting a massive IPO despite towering losses. The b…
COMMERCIAL OBSERVER
Long gone are the coworking days when it was enough to offer a cheap desk and maybe a beer keg. At, for instance, The Wing, the coworking space designed for women, which will count at least 13 locations by year-end, members are offered showers, a roof deck, a beauty room, and even a recently-launched babysitting space called Little Wing that provides open play and story time for children and support groups for mothers. Now available in their Soho and West Hollywood locations, Little Wing will e…
WSJ
Brick & Mortar Ventures has raised a $97 million fund targeting the construction, engineering and architecture sectors. Backed by large construction companies including Ardex GmbH and Mexican concrete company Cemex SAB, the fund has already invested in 16 startups since January 2018. The San Francisco-based firm has invested in startups developing everything from enterprise technology for project management to advanced 3-D modeling tools.
CREtech
The most important strategic analysis and comprehensive overview of the state of the commercial real estate tech sector is here! Considered the number one resource for data, trends and startup information, the 2019 CREtech Mid Year Report is a must-have for any commercial real estate professional or company.
GLOBEST
ORLANDO, FL—Venture capital is changing commercial real estate at an astonishing pace. GlobeSt.com recently caught up with Andrea Jang, head of growth Americas for JLL Spark, to gain insight on how venture capitalists choose what to fund, how their funding will change CRE, and how to keep pace with the changes. The topics we focused on will be part of a larger breakout session she will serve as a panelist on at the upcoming CREW Network Convention and Marketplace here in Orlando, FL….
COSTAR
New York City’s first self-driving cars are now making regular trips around a 2.5 million-square-foot redeveloped industrial park, the latest test of the nascent technology in a real estate project across the country and the first for the state of New York. Autonomous cars are still in their early stages as they spread in controlled-environment developments around the United States. The latest initiative kicked off Wednesday, operated by driverless car technology company Optimus Ride as part …
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