Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
The Real Deal
CBRE Acquisition Holdings, a blank-check company formed by CBRE Group, has lowered the target deal size for its upcoming initial public offering to $350 million, according to a filing with the Security and Exchange Commission. CBRE, the world’s largest real estate services firm, initially set the valuation goal for its special purpose acquisition company (SPAC) at $400 million.
GeekWire
Flexe is raising more capital ahead of schedule as the pandemic-driven e-commerce boom spurs faster-than-expected growth for its warehousing technology platform. The Seattle startup announced a $70 million Series C round led by new investor T. Rowe Price, with participation from existing backers Activate Capital, Tiger Global, Madrona Venture Group, Redpoint Ventures, Prologis Ventures, and others.
SmartCitiesWorld
The so-called “foundational layer” for smart cities projects globally is forecast to reach a total investment of $28.1bn over the next decade, new research finds. The Global Smart Street Lighting & Smart Cities: Market Forecast (2020-2029) study published by Northeast Group shows the market for LED and smart streetlighting, as well as additional smart city sensors attached to streetlight infrastructure continues to show steady growth with limited disruptions from Covid-19.
Bisnow
A SoftBank-backed technology company that makes smart windows for commercial buildings is going public as part of a special purpose acquisition company merger. Silicon Valley-based View announced Monday it entered into a merger agreement with a Cantor Fitzgerald-sponsored SPAC in a deal that values View at $1.6B.
Forbes
Why now is the time for financial services companies to spur innovation and the adoption to new technologies. Michael Tae and Matt Harris look back on two recent crises for lessons on how disruption can lead to rapid change, opportunity and a new status quo, with an eye towards what might be post-Covid.
Bisnow
Tax breaks for data centers don’t turn heads the way they used to, according to some industry leaders. With the goal of luring data center business, 36 states have introduced tax incentive programs that can save buildings and operators millions.
Crunchbase News
President-elect Joe Biden’s presence again in the White House is likely to spark renewed private-sector investment in the cleantech and clean-energy sectors, venture investors and startup founders say. Investors predict his programs will include the return of more U.S. Department of Energy-funded projects, more access to federal land, longer permit times for oil and gas, and funds tied to regulatory incentives, as well as expanded opportunities to invest in startup innovation, especially in the …
Building Engines
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Bloomberg
Airbnb Inc. and existing investors are seeking to raise as much as $2.6 billion in a long-awaited initial public offering expected to cap one of the busiest years ever for U.S. listings. The home-rental platform and some shareholders are offering 51.9 million shares at $44 to $50 apiece, San Francisco-based Airbnb said in a filing Tuesday with the U.S. Securities and Exchange Commission.
Bloomberg
Company after company has announced plans to cut their greenhouse gas emissions to net-zero by 2050. Occidental Petroleum Corp., Toronto-Dominion Bank, Eskom Holdings SOC Ltd. and Equinor ASA are among those that have made such a pledge in just the past month
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