Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
Business Insider
SANTA BARBARA, California , Dec. 28, 2020 /PRNewswire/ — Yardi® announced today the acquisition of CommissionTrac, an Atlanta-based software company that provides revenue management software for commercial real estate companies, with a focus on commercial brokerages.
The New York Times
The shift to digital work and play from home, hastened by the pandemic, has wreaked havoc on commercial real estate. But experts say it has also generated one surprising bright spot for the industry: data centers. The growing reliance on cloud-based technology — and the big, blocky buildings that house its hardware — has created greater opportunities for developers and investors as businesses and consumers gobble up more data in a world that has become increasingly connected….
The Real Deal
Even before Opendoor’s official stock market debut on Dec. 21, the iBuyer’s valuation soared to nearly $18 billion as Wall Street investors cheered its merger with a special purpose acquisition company. Shares of Chamath Palipatihiya’s blank-check company more than tripled Friday after it completed the merger with Opendoor.
Bloomberg
Apartment List, a rental platform, has raised $50 million in a funding round led by Janus Henderson Investors. It roughly doubled its prior valuation to more than $600 million. The investment comes as Apartment List’s business gains momentum.
The Wall Street Journal
Logistics technology provider project44 raised $100 million in a Series D funding round that will help to expand the reach of its supply-chain visibility software and build its business as it weighs a potential public stock offering over the long term. The funding round was led by existing investor Insight Partners, and backing from 8VC, Emergence Capital Partners, Omidyar Technology Ventures, Sapphire Ventures LLC, Sozo Ventures, and Underscore VC.
REjournals
Of any sector in commercial real estate, the future of office is arguably the most tenuous. Even as some employees return to the office, many may not—now or potentially ever. Companies and their workers have found value in flexibility of the stay-at-home experiment, choosing to extend it for the foreseeable future in some cases. In other instances, a kind of middle ground is being explored: the use of flex space.
Smart Cities Dive
The American Council for an Energy-Efficient Economy (ACEEE) released its 2020 State Energy Efficiency Scorecard on Wednesday, ranking California as its leading state for the first time since 2016, when it tied with Massachusetts. This is the first report since 2010 that Massachusetts has not held the No. 1 spot.
Bisnow
Cantor Fitzgerald is raising $400M for another blank check company, this time looking at possibly acquiring a real estate brokerage. CF Acquisition Corp. IV, led by Cantor executives Howard Lutnick, Anshu Jain and Paul Pion, filed paperwork with the Securities and Exchange Commission Monday.
The Korea Herald
LG Electronics Inc. said Wednesday it has signed a partnership with Swedish door opening solutions firm Assa Abloy Entrance Systems to commercialize automatic sliding doors with transparent OLED displays. The product combines LG’s 55-inch transparent organic light-emitting diode (OLED) signage and related software with the automated glass sliding doors of Assa Abloy, the South Korean tech firm said.
Chain Store Age
Nike is providing consumers who would prefer to stay home during the pandemic an accurate, virtual view of how items fit. The athletic footwear and apparel brand is leveraging the Omnivor Holograms for Retail solution as the platform for its new Nike Virtual View feature.
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