Latest in Commercial Real Estate Tech News by CREtech

Latest Trends and Insights in Real Estate Technology

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Locus raises $50 million for its logistics management business

TechCrunch
6/3/2021

Locus, a startup that uses AI to help businesses map out their logistics, said on Wednesday it has raised $50 million in a new financing round as it looks to expand its presence. The new round, a Series C, was led by Singapore’s sovereign wealth fund GIC. Qualcomm Ventures and existing investors Tiger Global Management and Falcon Edge also participated in the round, which brings the startup’s to-date raise to $79 million. The new round valued the startup, which was founded in India, at about $30…

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Invesco Backs Mynd to Spend $5 Billion on Single-Family Rentals

Bloomberg
6/3/2021

“As traditional commercial real estate investors that invested in multifamily as their key strategy have moved into single-family rental, we’re seeing the market flooded with institutional capital,” Brien said. He acknowledged that dynamic will make it more competitive for Mynd to find properties, but touted its data-driven technology as better enabling it to make offers across the U.S. …

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Adeptmind Announces $6.2M in Series A Funding

A/O Proptech
6/3/2021

June 3, 2021, TORONTO, ON — Today Adeptmind, a leading AI retail technology company creating advanced digital discovery solutions for retailers and shopping centres, announced a $6.2M USD Series A investment.

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The SPAC Boom Has Quieted, And With $200B Still Looking For Merger Targets, Some Are ‘Destined To Fail’

Bisnow
6/3/2021

The rapid proliferation of special-purpose acquisition companies that began last year and peaked early this year seems to have tapered off, but billions of dollars worth of investment are still waiting for an acquisition….

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Experts: In Less Than a Year Office Will Be Back to Normal

GlobeSt
6/3/2021

Musings over the “death of office” post-COVID-19 are likely overblown—at least according to a panel of experts convened by Trepp recently to discuss the sector’s path forward. Instead, office employment will likely pick up while office use moderates, achieving a balancing effect, said Glenn Mueller, a professor at the University of Denver. And what’s more, the sector experienced something of a “pendulum swing” over the course of the pandemic: prior to COVID, the industry had just seen inte…

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NOW LIVE! How Technology is Changing the Multifamily Experience, Part 1

CREtech+
6/3/2021

How Technology is Changing the Multifamily Experience, Part 1// Jeff Kok, CIO at Mill Creek Residential highlights how technology advancements will change where people live and work, and how Mill Creek Residential is leveraging technology to enhance the tenant experience.

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Newmark’s New CIO Looks to Streamline Systems and Digitize More Operations

Wall Street Journal
6/2/2021

Commercial real-estate advisory firm Newmark Group Inc. said it has named technology industry veteran Sridhar Potineni as its chief information officer with a mandate to streamline systems and develop new products and services.

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Home services platform Urban Company raises $255 million at $2.1 billion valuation

TechCrunch
6/2/2021

Home services marketplace Urban Company said on Wednesday it has raised $255 million in a new financing round and confirmed a valuation of $2.1 billion, joining over a dozen other startups in India that have earned the unicorn status this year.

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Fixflo finds new home at Aareon AG

PlaceTech.
6/2/2021

Fixflo, the property repairs and maintenance platform, has been sold to German property software company Aareon AG in what CEO Rajeev Nayyar called “the next exciting phase” for the business.

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Seattle has dethroned Manhattan as the top US commercial real-estate hotspot for foreign investors

Business Insider
6/2/2021

Manhattan is no longer the biggest hotspot for foreign investors snapping up commercial real estate in the US, according to a new report by Real Capital Analytics (RCA). This is the first time Manhattan hasn’t topped the list since the global financial crisis in 2009, it said….

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