Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
The Real Deal
Zillow profits soar to $40M during third quarter. Zillow’s profits soared during the third quarter as iBuying deals dried up. The Seattle-based real estate giant reported $40 million in profits, compared to a loss of $64.6 million during the third quarter of 2019.
CREtech
Catch up our recent webinar, presented by HqO exploring how reimagining tenant engagement strategies and identifying ways to provide value both within the four walls of the office building and beyond can be a key to retention.
The Real Deal
Newmark reported earnings of $152.1 million in the third quarter, down 25 percent from the same time last year. The brokerage said it experienced a drop in sales and leasing commissions due to Covid-related challenges
The Real Deal
Flex-office provider Breather has brought on Moelis & Company, an investment bank specializing in mergers and acquisitions, to consider a possible sale or capital raise, Business Insider reported.
Reuters
Pony.ai, backed by Toyota Motor Corp, said on Friday it has raised $267 million in the initial phase of its fundraising round that values the self-driving startup at $5.3 billion, as it seeks to boost its presence in the United States and China.
ESG Today
Private equity and alternative asset manager Blackstone announced today that it has hired Eric Duchon for the newly created position of Global Head of Real Estate ESG. In his new role, Duchon will be responsible for building on the firm’s existing environmental, social and governance efforts and scaling them across Blackstone’s global real estate portfolio.
Building Engines
Building Engines CEO Tim Curran weighs in on the New Building Operations Software Platform & How it will Impact the Industry.
Multifamily Executive Magazine
While online shopping has become the norm for apartment renters, the COVID-19 pandemic has accelerated the volume of packages arriving daily at multifamily communities across the nation. Looking ahead to the holiday shopping season and beyond, that volume is not expected to slow down.
The Wall Street Journal
Spain’s Iberdrola SA said it would spend €75 billion, equivalent to $88 billion, over the next five years to double its renewable power capacity and capitalize on the shift to green energy, highlighting how some of Europe’s lesser-known utility companies have become major players in the global energy industry.
ScienceDaily
Buildings around us create a whopping one-third of global greenhouse gas emissions – about ten times more than air traffic worldwide. In Europe alone about 190 million square metres of housing space are built each year, mainly in the cities, and the amount is growing quickly at the rate of nearly one percent a year.
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