Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
CNBC
America’s department store chains have seen their odds of defaulting escalate more than any other consumer-facing companies over the past month, according to a new analysis by S&P Global Market Intelligence.
The Real Deal
Eden, which bought Managed by Q from WeWork last month, has let go of 40 percent of its roughly 100 staffers and furloughed 15 percent of them, according to Commercial Observer. The cuts impacted about 75 percent of staff at Managed by Q and 30 percent of staff at Eden.
strategy+business
History doesn’t exactly repeat itself, but it does run in cycles. One of the most robust theories of such cycles was articulated by economic historian Carlota Perez, in her influential book Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages (Edward Elgar, 2002). It suggests that humanity can get through the current period of upheaval and economic malaise and enter a new “golden age” of broad economic growth, if the world’s key decision makers act in concert …
New York Times
The recycling industry was already struggling before the pandemic. Now, an increasing number of cities are suspending recycling services, partly out of fear that workers might contract the coronavirus from one another while sorting through used water bottles, food containers and boxes. …
Bisnow
When Joe Brady took over late last year as CEO of the Americas at flexible workspace company The Instant Group, new technology was already accelerating change in the office world. In March, that transformation accelerated further when the COVID-19 crisis suddenly upended the nation, forcing millions to work from home.
TechCrunch
Kargo, a Jakarta-based logistics startup co-founded by veteran Uber Asia executive Tiger Fang, has raised $31 million to scale its business and help firms in the Southeast Asian nation fight the coronavirus.
AXIOS
America’s economic crisis soon may expand to its states, cities and towns. The big picture: State and local tax revenue is falling, particularly in areas heavily reliant on sales taxes, while spending is up due to added unemployment and medical obligations.
Bloomberg
Just nine months ago, Masayoshi Son publicly declared Ritesh Agarwal one of the star entrepreneurs backed by his SoftBank Group Corp. The Japanese billionaire boasted that Agarwal’s Oyo Hotels & Homes was poised to overtake the biggest hotel chains in the world just a few years after its founding. “It’s unimaginable,” Son said on stage at SoftBank World in Tokyo. “At 25, he’s going to be world’s biggest hotel king.”…
Bisnow
Commercial real estate firms are rapidly trying to shed their tech-averse nature as they adapt to mandated social distancing, creating a demand surge for proptech companies that allow prospective tenants to tour spaces virtually.
Cascade Business News
Home-grown success story CrowdStreet, which has pioneered a path for individual investors to band together and acquire prime commercial real estate assets nationwide, has passed a staggering $1 billion milestone in total online investments.
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