Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
CREtech
The commercial real estate market was riding a wave of accelerated growth in the past several years. Record-setting deals in office leasing, investment sales, management and others, had the industry on track to set new records. However, in the wake of the global pandemic and tightening economic conditions, real estate companies are entering a period of rapid digital transformation.
CREtech
Pandemic Disrupts Boom in Commercial Real Estate According to a recent study by CREtech, ±80% of commercial real estate brokers and service providers saw business dramatically decline in the wake of COVID-19 The commercial real estate market was riding a wave of accelerated growth in the past several years. Record-setting deals in office leasing, investment sales, management and others, had the industry on track to set new records. However, in the wake of the global pandemic and tightening…
Lauren
The global real estate industry has been adjusting to a new normal of how buildings of the future will be managed, leased, and operated. From multifamily and office to hotels and retail properties, the recent global pandemic has put a strain on nearly all building owners, occupiers, and residents. In a recent CREtech Talks: Landlords & Brokerages Thoughts on Tech Post Pandemic, featuring Chandra Dhandapani of CBRE, Ginny Miller of Jamestown, James Whelan of Boston Properties, Jeff Kok of…
The Real Deal
JPMorgan cashed in almost $100 million of its stake in WeWork shortly before the company’s failed attempt to go public. The banking giant — a lead advisor on WeWork’s botched initial public offering effort — sold its shares last year, soon before the office giant descended into crisis, according to the Telegraph. Typically, investors will wait to cash out until after an IPO in the hope of achieving a higher valuation….
The Real Deal
Owners of New York City’s largest office buildings are drawing up a plan for returning the city’s 1.5 million office workers to their desks. The Real Estate Board of New York — whose members own properties such as the Empire State Building, One World Trade Center and Rockefeller Center — is in discussions with state officials about guidelines for reopening the city, sources familiar with talks told The Real Deal.
The Real Deal
A deal between Airbnb and RXR Realty that was touted as a “21st-century hospitality model” will never see the light of day. The short-term rental giant and the landlord are pulling the plug on a 10-floor residential rental conversion at 75 Rockefeller Plaza, according to Business Insider. The companies said last year that they would bring 200 hotel-style units to the 33-story office tower.
Back To Work Solutions
Have I already had COVID-19 exposure? Am I now potentially immune? Bridgewater, NJ, April 26th, 2020: BackToWork Solutions’ high-volume employee antibody testing process is up and running! Employers are now providing their employees a potential path to reclaim their lives and return back to work. Testing for immunity is live today for those with a prescription. Quest launched COVID-19 antibody testing this past week, expecting capacity at 4.5MM tests per month with results turned around …
Walker & Dunlop
On Wednesday, April 22, Walker & Dunlop’s Chairman & CEO, Willy Walker, hosted our Walker Webcast with the CEO of Starwood Capital Group, Barry Sternlicht. Willy and Barry discussed the CRE market’s performance, touching on asset class performance across Starwood’s vast holdings and investments, the path forward for our country and economy, and where and when investment opportunities could present themselves.
The Real Deal
The nation’s largest real estate listings platform is allowing its employees to work from home for the rest of the year. “My personal opinions about WFH have been turned upside down over the past 2 months,” Rich Barton, CEO of Zillow, tweeted Friday. “I expect this will have a lasting influence on the future of work … and home. Stay safe.”
Bisnow
By the end of March, nearly two-thirds of knowledge workers were working remotely, according to an estimate from software company Netskope. A Colliers survey of people around the globe conducted around the same time found 82% of employees hope to work from home at least once a week after the pandemic.
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