Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
COMMERCIAL OBSERVER
For all the hand-wringing about how slow the commercial real estate industry is to adapt to new technology, it pays to be more measured. That was one of the takeaways from the CREtech LA 2019 conference, held before an audience of more than 800 attendees, at the Shrine Auditorium last week.
JLL REAL VIEWS
As old workplace norms give way to modern ways of working and start-ups build thriving local communities, big cities in Central and Eastern Europe are joining the global shift towards flexible office space. In the last year, more global flex space operators built their presence across the region. IWG, parent company of Regus, recently opened its third branch of the Spaces brand in the region, while WeWork took an entire buildingin a central Warsaw office complex. Flex operators are joining…
BLOOMBERG
The owner of a London office building negotiated a lease with a company that wanted all eight floors. To his surprise, his bankers at ING Groep NV shot it down. ING balked because a single tenant, WeWork Cos., would be responsible for paying all the rent. And the Dutch bank isn’t alone. Increasingly, lenders in Europe are cooling toward the co-working giant, which started with six floors in a tenement-style building in New York’s SoHo district nine years ago, and now has 45 million square feet …
DAILY BEAT NY
Prefab construction startup, Dvele has raised a $14 million Series A round from Crescent Real Estate, the company announced. This comes a few months after Amazon invested in Plant Prefab, which also manufactures customized homes off-site. The companies try to use technology to make the process of building a house more efficient and cost-effective. Historical Context: Sears sold more than 70,000 kit houses through mail order between 1908 and 1940. The company shipped them via railroad boxcars,…
GLOBEST
“You will not learn about how the blockchain works, but how the blockchain works for you,” Stephen Meade, CEO of MonetaPro, said in as the opening presenter at the Unblocking the Blockchain CREW San Diego event this week. The event was dedicated to explaining how blockchain technology can disrupt and benefit business processes. In addition to Meade, speakers included Lynn LaChappelle, senior managing director at JLL; Eric Linxwiler, senior sales management executive at CBX Software; Anup Marwadi…
GLOBEST
NEW YORK CITY—Commercial real estate software provider Reonomy has added tenant data to its information offerings for its web application and suite of data products. The company has added a data set of 11 million tenant records across the US in all of the major asset classes except for multifamily. The company says it is the largest commercial tenant base on the market. Users will be able to surface all kinds of insights into a variety of scenarios, Vice President of Marketing Sam Viskovich t…
THE REAL DEAL
UPDATED March 30, 2019 8:30 a.m.: Through a partnership with Blade, a $150 million transportation startup, office tenants at Related Companies’ megadevelopment have access to a five-minute shuttle service to John F. Kennedy International Airport. As of this week, the four-year-old aviation company is running a continuous weekday flight service from the West 30th Street Heliport — one of three in the city — for $195. For a glimpse at what the journey is like, check out the video above, whic…
THE REAL DEAL
Private-equity firm Insight Venture Partners has made its latest bet in the commercial real estate technology space, acquiring a New York-based software company focused on building operations. Through Property Brands, a holding company in which Insight is the lead investor, it bought SiteCompli, The Real Deal has learned. The acquisition closed earlier this year, sources confirmed. On Thursday, Jason Griffith and Ross Goldenberg, who founded SiteCompli in 2008 and led it during its time as an…
GLOBEST
JLL has plunged into the tech market by launching $100 million global venture fund JLL Spark. In the last nine months, the fund has invested in 11 start-up concepts, including Honest Buildings, Jones, Humble and Lively. At the CRETech Los Angeles conference this week, Andrea Jang, head of growth in the Americas at JLL Spark, spoke about JLL’s commitment to CRE tech investment to fuel the growth of technology in this industry and how start-ups should partner with a strategic VC. “We are bridging …
CREtech
CREtech Returned to Los Angeles for its 4th Year With Record Breaking Turnout New York, NY (March 29, 2019)— CREtech (cretech.com), the largest event, data and content platform covering the commercial real estate tech industry, returned to Los Angeles on March 27-28 with a record breaking turnout for its first ever two-day conference, held at the historic Shrine Expo Hall. Over two days, over 1000 attendees gathered in Los Angeles to hear from and network with the leading startups, entrepre…
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