News Archives | Page 42 of 1011 | CREtech

In September, commercial real estate services and investment giant CBRE announced it had invested $100 million in VTS, an asset life cycle management platform, and one of the most successful and fastest-growing companies in proptech.

Airbnb Inc. is launching a listing service for rental apartments with some of the biggest landlords and property managers in the country, a bid to expand its business in multifamily buildings where owners often shun short-term rentals.

The real estate industry is moving beyond what it perceives as cyclical headwinds — i.e., rising interest rates, declining gross domestic product (GDP), sinking deal flows — and taking a long-term approach to real estate assets.

Savills made two new rungs on its corporate ladder for Janet Woods and Patrick McGrath, Commercial Observer has learned. Woods, Savills’ former Northeast region lead, and McGrath, its chief information officer, will move into two newly created roles overseeing the brokerage’s east and west operations, respectively, according to Savills.

Nearly half of real estate companies that have adopted three or more proptech tools are hesitant to invest further in the sector due to a lack of return on investment.

JLL Technologies (JLLT), the technology division of JLL, today announced the launch of the Strategic Technology Program, which provides assessment, strategic planning, goal setting and performance measurement services for real estate technologies.

With every passing month, the flexible workplace becomes more prevalent, and more of a constant, for startups and enterprises alike.

Companies like Compass, Opendoor, and Redfin are reporting losses and cutting thousands of jobs. The proptech sector is battling two challenges at once: a slowing housing market and a tech bust.

JLL is increasing its technology presence in China and intends to set up a new RMB fund. The JLL Spark China Venture Fund will launch in 2023 allocated for financing China-based proptech companies.

WeWork said Thursday that it was going to close roughly 40 “underperforming” locations in the United States and tempered its revenue forecast for the year, highlighting the challenges the co-working company still faces after its near collapse and subsequent bailout in 2019.