Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
THE REAL DEAL
Ahead of what would be the second largest initial public offering of the year, the We Company is in discussions with banks to secure a $2.75 billion credit line. While it remains unclear which banks are considering the financing, Bloomberg reported that JPMorgan is leading the talks. JPMorgan is also one of WeWork’s earliest investors.
BISNOW
A rabbet is a notch formed in or near the edge of a board, so another construction piece can fit squarely into the wedge, connecting different pieces of material. For Austin-based software company Rabbet, the word has taken on a slightly different meaning. The software developer envisions its proprietary solutions as tools that can connect complex aspects of the construction financing process to ensure contractors are getting paid on time and banks have the ability to accurately assess wha…
THE REAL DEAL
MetaProp is looking to raise its largest fund to date. The company is targeting $100 million for its latest fund, according to documents filed with the Securities and Exchange Commission. Co-founder Aaron Block is listed as the fund manager. The New York-based company is best known as an accelerator for startups focused on disrupting the real estate industry and providing small cash infusions to nascent firms. Founded in 2015 by Clelia Peters, Zach Aarons and Block, the company has gotten …
SAVILLS
Leading occupier technology platform recognized by the 2019 American Business Awards and Esri User Conference NEW YORK (May 29, 2019) – Savills announced today that its occupier technology platform, Knowledge Cubed, has been recognized by two leading industry organizations for its work in the real estate technology sector. The American Business Awards (ABA), also known as the Stevie Awards, has honored Savills in the real estate or construction management solution category, which recognizes …
FORBES
In this second episode of the #CEOTalks series, having sat down with JLL’s Guy Grainger last time, I spoke about PropTech with Mike Sales, CEO of Nuveen Real Estate. Nuveen RE was born out of the 2019 rebrand of TH Real Estate and, as Nuveen’s real estate specialist, it represents one of the largest real estate investment managers in the world, with $125 billion of assets under management.
GLOBEST
CHICAGO BUSINESS JOURNAL
Chicago startup Arturo, a real estate data and analytics company spun out of American Family Insurance, has raised a seed round of funding as it looks to become a standalone business. Terms of the investment were not disclosed, but the round was led by Madison-based AmFam. Arturo uses artificial intelligence and deep learning to create satellite, aerial, drone and ground-level images that allow real estate professionals to accurately assess physical property characteristics. The startup’s tech…
THE REAL DEAL
Fresh off a $12 million funding round, real estate data platform CompStak is in expansion mode, with new offices opening in Chicago and Atlanta. Along with the additional cities, the company will also expand its footprints in Los Angeles and New York, it announced Tuesday, seeking to bulk up its data exchange program. CompStak Exchange allows brokers, appraisers and data teams to upload property and transaction data to its platform, where it can be exchanged for other data the parties …
BOSTON BUSINESS JOURNAL
Itzik Spitzen co-founded LeasePilot in 2015 after realizing the frustrating process of drafting leases could be turned into a business opportunity.
JEREMY NEUER for FORBES
I’ve said it before and I’ll say it again: If you aren’t embracing new technology, you are going to get left behind. In today’s modern world, this statement rings truer than ever. The digital age is taking over every industry, and real estate is no exception. Now, searching for vacation rentals, homes and commercial properties via mobile apps is the norm — and real estate technology doesn’t stop there. Once buyers and renters find the properties of their dreams, they want tech to be readily a…
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