Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
Teslarati
Tesla CEO Elon Musk has mentioned that he now lives in a ~$50K house at Starbase, Texas, where his private space company, SpaceX, is manufacturing its Starships. Based on images of the home, it appears that the Tesla and SpaceX CEO is indeed living modestly in a prefabricated housing unit that’s only about 400 square feet.
Axios
Nextdoor, the neighborhood social network in more than 275,000 global communities, announced that is has agreed to go public via a SPAC sponsored by Khosla Ventures — at an implied valuation of $4.3 billion.
The Wall Street Journal
SoftBank Group Corp. is leading an investment in AnyVision Interactive Technologies Ltd. that values the facial-recognition company at over $1 billion, according to a person familiar with the matter, underscoring its commitment to the technology despite pushback over privacy concerns.
Bisnow
With coronavirus pandemic conditions easing in the U.S. but the future of shopping malls still uncertain, mall owners are constantly on the lookout for any way to diversify. Two of the largest mall owners in the U.S., Brookfield Asset Management and Simon Property Group, have invested in Sam Nazarian’s ghost kitchens concept, The Wall Street Journal reports. The most recent funding round, a Series B that totaled $80M, was led by Brookfield and SoftBank Group-backed REEF Technology, a tech fir…
The Real Deal
It took Compass just three months as a public company to lose more than $3 billion of market value. The stock closed at $12.25 on Wednesday, a new low that gave the company a market value of $4.7 billion. That’s a drop of 39 percent from its starting price of $20.15 at its April 1 debut on the New York Stock Exchange. At that price, the company was worth about $7.8 billion.
GlobeSt
The technology firm has a proprietary web-based software that provides real-time, online quotes for commercial real estate debt to streamline the loan application and origination process.
Fast Company
As businesses start to reopen their offices, many are planning for a hybrid model that will see more employees working remotely all or part of the time. But this return to a semblance of normal working life could be more disruptive—and potentially more damaging—than the initial pivot to all-remote work in 2020.
The National Association of Realtors®
WASHINGTON (June 14, 2021) – The National Association of Realtors® announced today that its “Pitch Battle” competition will be held as part of the third annual Innovation, Opportunity & Investment (iOi) Summit on August 17 and 18, in Dallas, Texas.
The Wall Street Journal
As the U.S. hospitality industry rebounds from pandemic closures, former hotelier Sam Nazarian is moving into the food-hall business, marrying the traditional dine-in model with delivery-only “ghost kitchens” in hopes of solving revenue problems that have long plagued retail and food spaces. Mr. Nazarian said his new venture, Creating Culinary Communities, which counts investors such as shopping-mall giants Brookfield Asset Management Inc. and Simon Property Group, has plans for 1,000 ghost k…
JLL
The events of the past several weeks have changed the world of work for today, and into the foreseeable future. Since March of 2020, the majority of office-occupying industries have been working from home, while sheltering in place. This abrupt shift in workplace operations has resulted in significant behavioral changes that may have a lasting impact on workspace design and use, while simultaneously altering the demand for commercial office space for years to come. Many tenants are hopeful for …
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