Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
Wall Street Journal
SmartRent.com Inc., which sells smart home-technology systems to apartment-building owners and developers, intends to go public through a merger with a special-purpose acquisition company that values the property-tech startup at $2.2 billion, according to people familiar with the matter.
Fast Company
When a fixer-upper in a D.C. suburb recently went up for sale, it got 88 offers—76 of them all-cash. It ultimately sold for $185,000 over the asking price—emblematic of the current housing market. Across the country, from Georgia to Wisconsin, many houses are selling within days or even hours after they’re listed, at prices far higher than a year ago. In some cases, the buyers are investors who can pay cash. It keeps getting harder for first-time buyers to compete. …
Wall Street Journal
With the U.S. office market in its worst crisis in a decade, some landlords are discovering the risks of putting all their tenant eggs in one basket. Office landlords often consider leasing an entire building to one company an efficient way to collect steady rent checks. Now a small but growing number of landlords are in danger of losing their properties as their only or primary tenant declines to renew a lease, leaving the landlord at the mercy of a historically bad office-rental market….
Proptech1
Despite the chaos inflicted on the real estate sector by the COVID-19 pandemic, the topic of sustainability, as defined by ESG (Environmental – Social – Governance), is still the most hotly debated and relevant topic within the real estate industry, both in the last year, and in the years to come. If anything, COVID-19 has shown the hugely negative impact an external factor can induce both on the global economy in general and the real estate industry in particular.
CREtech+
Scott Evans, Chief Digital Officer at Related Companies talks about the disruption that is occurring in the retail and traditional rental markets, and what new digital technologies he is most excited about.
CREtech+
Chris Rising, Founder of Rising Realty Partners discusses how technology can be used as a scaling tool, and what place VR and AI have in the workplace of the future.
The New York Times
The pandemic raised the possibility that more workers could move anywhere, potentially scrambling the map of booming and declining places in the American economy.
Commercial Observer
Clockworks Analytics makes building software that, among other benefits, helps building owners optimize energy performance and improve indoor air quality. It’s little surprise, then, that for Clockworks, like for many other product makers in the environmental proptech space, business is booming.
The Real Deal
CoStar bought national search portal Homesnap for $250 million in November, pitting the CRE data giant against Zillow, Realtor.com and others in the residential game. CoStar also tried to buy CoreLogic and RentPath these past few months but failed in part due to scrutiny from the Federal Trade Commission. …
Bisnow
The coworking giant announced in late March its intent to merge with BowX Acquisition Corp., a special-purpose acquisition company founded and chaired by Sacramento Kings owner Vivek Ranadive. In promoting that deal to potential investors, WeWork used projections and financial calculations that reminded some of the talking points pushed by co-founder Adam Neumann that caused investors to balk at its 2019 IPO prospectus and ultimately resulted in Neumann’s ouster as CEO, The Wall Street Journal r…
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