Latest in Commercial Real Estate Tech News by CREtech

Latest Trends and Insights in Real Estate Technology

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Announcing Dealpath Connect data integration with JLL Investment Center

Dealpath
10/8/2020

Dealpath Connect will replace the need to constantly (and manually) review and process deal flyers, teasers, and OMs sent in from brokerage firms. The integration will enable Dealpath clients to directly receive the offerings in a digital format, in their Dealpath accounts – qualified listings can be moved into the deal pipeline for CA signing and due diligence, streamlining the engagement between the buy-side and sell-side.

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VTS debuts real-time data for commercial leasing

The Real Deal
10/7/2020

As companies wrestle with the return-to-work question, VTS is arming landlords with a new tool: data that captures fluctuating supply and demand in real time. The New York startup said VTS Data, which launched today, is a first-of-its-kind product for investors and owners, who have historically relied on anecdotal information and dated market reports.

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Compass Buys Title Startup Modus

The Real Deal
10/7/2020

Compass is getting into the title and escrow business — two ancillary service lines that could boost its earnings as it works toward profitability. On Monday, the residential firm said it signed a definitive agreement to buy Modus, a title and escrow startup that’s raised $12.5 million. …

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Opendoor Filing Reveals Lower 2020 Revenue, Smaller Loss

Crunchbase
10/7/2020

The San Francisco-headquartered company posted a net loss of $118 million on $2 billion in revenue for the first half of 2020, according to a Monday filing with U.S. securities regulators. That’s a decline from the same period last year, when Opendoor had revenue of $2.27 billion and a net loss of $158 million.

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Greycroft has rounded up $678 million in capital across two new funds

TechCrunch
10/7/2020

Greycroft, the New York and LA-based venture firm founded in 2006 by investors Alan Patricof, Dana Settle, and Ian Sigalow, has closed on two new funds totaling $678 million in capital commitments. One of those funds is its sixth flagship early-stage fund, which closed with $310 million. The firm also collected $368 million in commitments for a third growth-stage fund that it will use to support breakout startups from its early-stage portfolio….

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How COVID Is Making Some Developers Adjust Their Projects

Bisnow
10/7/2020

As the conversations around long-term decisions start to percolate again after a six-month pause, some of the ways the coronavirus pandemic has adjusted new and upcoming developments are coming into focus. Developers and landlords are scrambling to respond to shifts in the way people live and work and shop in future developments, from increasing apartment sizes to accommodate home offices, to pouring more money into technology and infrastructure to combat future pandemics….

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$500M Florida sports district to use digital twin modeling

Construction Dive
10/7/2020

Cityzenith CEO Michael Jansen said efforts are underway to develop the model of the core project site and the surrounding urban neighborhood, which will encompass most of Orlando. “The result will be the most advanced and feature-rich 3D digital twin model of a city in the United States,” he said.

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These Technologies Can Fill Apartment Vacancies

GlobeSt
10/7/2020

“Technology is powering modern leasing—remote, effective leasing is just not possible without it,” Stacy Holden from AppFolio said when discussing how apartment owners can fill vacancies faster. Today more than ever before, technology is becoming the key to both quickly and safely drive leasing in apartment properties.

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Fifth Wall targets $118M raise for European proptech fund

The Real Deal
10/7/2020

Fifth Wall, the venture capital firm that’s backed Opendoor, States Title and Industrious, is looking overseas for its next hit. The Los Angeles-based firm is currently raising a $118 million European fund to invest in proptech startups. Although the fund is not yet closed, investors so far include the real estate arm of BNP Paribas, the French bank; Pontos, a Finnish family office; MOMENI, a German real estate developer; and Azora, a Spanish investment manager.

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Companies to Shrink Offices as Work Stays Remote After Pandemic

Bloomberg
10/6/2020

Some 53% of larger organizations plan to reduce the size of their office space and more than three quarters will increase work flexibility. Almost all of the respondents were uncomfortable returning to work because they fear contracting the virus, the poll found.

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