Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
The Real Deal
Nathan Berman’s MetroLoft Management wants Sonder to leave the developer’s office-to-residential conversion at 20 Broad Street, and pay $3.9 million in back rent and more than $100 million to cover the remainder of its lease, according to a suit filed July 30. The landlord claims the short-term rental startup stopped paying rent last month. …
Bloomberg
SoftBank Group Corp. is adding $1.1 billion to its WeWork commitment as the co-working company weathers declining membership amid the coronavirus pandemic, according to a staff memo obtained by Bloomberg News.
Housingwire
Till, a startup that aims to help renters set up customized payment schedules, has raised $8 million in a seed funding round. Route 66 Ventures, MetaProp and NextGen Venture Partners participated in the financing, the first external round of funding for the Washington, D.C.-based company since its 2017 inception.
MIT Sloan School
When George Floyd was killed by police May 25 in Minneapolis, the response mirrored and magnified the reactions that followed many police killings of Black people in the last decade. Social media, online news, and citizen journalism have quickened the pace of information sharing and response, and did so again, leading to global protests and calls to defund police.
Forbes
Zibo, a banking and payment platform for independent landlords, announced today that it has raised $10.5 million in seed funding to help scale its one-stop-shop approach to financial management for residential rental properties.
CREtech
Business leaders must reimagine workspaces and the supporting technology to meet new health and safety standards, evaluate key employee needs, and connect a more dispersed workforce. Quartz’s Heather Landy and JLL Global CEO Christian Ulbrich discuss the role of technology as we navigate the next normal of CRE, rebuild employee trust, and create a safer and smarter workplace.
dot.LA
James Segil and Alex Kazerani are two of L.A.’s most successful tech entrepreneurs, but you’ve probably never heard of them because for the last 20 years they’ve been making bets on backend tech infrastructure. Most recently they scored a $36 million fundraise for their latest venture. And now as they look back at their careers, they’ve opened up their playbook to dot.LA.
JLL
Today’s spotlight on creating healthier workplaces goes well beyond implementing physical distancing and encouraging employees to use the stairs. Building infrastructure and hygiene practices, closely monitored by new technology and live data, are being analysed and tested to ensure ventilation, lighting and heating systems are playing their part in safeguarding employees’ health.
Bisnow
In future the materials used in buildings could play a vital role in fighting the climate crisis, as new technology advances could allow bricks to store energy. A research team at Washington University in St Louis, U.S., has found a way to use nanotechnology to fill the pores in a standard red fired house brick with plastic that can conduct electricity and store a charge. That turns the brick into a kind of super capacitor, which can charge and discharge electricity faster than a standard lithiu…
CNBC
As consumer shopping habits change, America’s shopping malls have anointed many saviors: food halls, movie theaters, gyms. Grocery stores could be next on the list. Simon Property Group, the largest mall owner in the U.S., hinted at the idea on an earnings call Monday evening.
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