Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
The Real Deal
An Indiana startup that sells video software to apartment owners has just nabbed $22 million in growth equity to keep up with unprecedented demand for its wares. Realync said the funding, from Susquehanna Growth Equity, comes as property owners and managers embrace video tours in the wake of the pandemic.
Fast Company
Over the past few decades, transit-oriented developments have risen in inner-ring suburbs across North America, adding homes and shops near the transit lines that shuttle workers in and out of core cities.
Bloomberg
Office employees are getting used to the perks of telecommuting, and expect it to continue even after the pandemic ends, but most aren’t ready to abandon the office entirely, according to a survey by Jones Lang LaSalle Inc.
The Real Deal
Short-term rental operator Domio is reportedly going out of business. The startup, which was founded in 2016, will shut down and sell its assets through an assignment for the benefit of creditors, with Sherwood Partners overseeing the sale, The Information reported.
GlobeSt
Some multifamily communities are adding touchless features and some had the foresight to include those features in the design process well before COVID was a reality.
Axios
The big picture: The rise of remote work has been disastrous for WeWork, which placed a hugely expensive bet on offices. Now the company is trying to find its place in the future of work by making its office space available on demand.
The Fintech Times
Are connected cars, kitchens and homes really the epitome of AI value? Well, maybe… The smart home does add immense value. There’s quality of life, reduced admin, improved budgeting, better use of resources and many other simple benefits to using systems that optimise, transform and improve. But these are only one part of the AI puzzle.
The Wall Street Journal
The latest startup looking to capitalize on new demands and dislocations created by the pandemic is Neighbor.com, which aims to be a sort of Airbnb for storage space. The Lehi, Utah, firm converts vacant restaurants, offices and parking lots into storage space.
Bain Capital
Bain Capital Real Estate and Magnolia Capital today announced the formation of a joint venture to pursue opportunities to acquire, renovate and operate value-added multifamily housing in primary and secondary markets throughout the U.S..
TechCrunch
The real estate industry has been slow to adopt technology compared to many other sectors. So when Dominic Penaloza left his job at WeWork China as the head of innovation and technology this spring, he decided to focus on proptech in Asia.
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