Latest Trends and Insights in Real Estate Technology

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  • Alphabet’s ‘City of the Future’ to Move Forward in Toronto

    BLOOMBERG

    Alphabet Inc.’s plan to create a “city of the future” on Toronto’s waterfront has cleared a major hurdle, though it will be much smaller than once envisioned. Sidewalk Labs LLC, Alphabet’s urban innovation unit and sister to Google, won approval to move forward with the project on Thursday after acquiescing to several contentious issues. Those included sticking to its original 12-acre plan rather than a 190-acre project it proposed in June. Waterfront Toronto, the public corporation in charge…

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  • Trulia founder Pete Flint backs real estate startup Modus

    TECHCRUNCH

    The founders of Seattle-based Modus cold-emailed Pete Flint, the founder of Trulia and a current managing partner at the venture capital firm NFX, for months, to no avail. In a last-ditch effort, Alex Day, Jai Sim and Abbas Guvenilir sent one more message to the investor whose real estate listings tool sold to Zillow in 2014 for $3.5 billion. They were at a coffee shop below his San Francisco office, was he interested in meeting?…

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  • Report: Two-Thirds of CRE Companies Use Some Type Of Coworking

    BISNOW

    Two-thirds of commercial real estate companies are using some type of coworking product, and many of them plan to expand their usage, Cushman & Wakefield said in a new report. The report, which is based on Cushman & Wakefield and CoreNet Global interviews with 550 commercial real estate executives, says coworking is beyond an emerging office asset class and more or less a strategic play that CRE firms must invest in.

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  • How Multifamily Owners Are Changing the Way a Renter Expects to Live

    GLOBEST

    LOS ANGELES—The opportunity still remains strong in the development and redevelopment of properties. So said moderator Mike Rovner, president of Mike Rovner Construction Inc., during Wednesday morning’s opening panel session at this year’s GlobeSt. APARTMENTS 2019 event. Rovner did, however, point out that the limited availability of developable land sites, rising construction cost and finding renovation properties that make financial sense to invest and develop are just a few of the challeng…

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  • Vacasa Nets $319 Million in Backing for Vacation Rental Management

    SKIFT

    Vacasa, a property management service for short-term rentals, said Tuesday it had raised $319 million in investment, led by financing from private equity firm Silver Lake. The vacation rental startup has now raised a total of $526.5 million in private equity funding — more than any other startup of its kind. The company, based in Portland, Oregon, said the deal places a “north of $1 billion” valuation on the company, making it the rental property management sector’s first “unicorn.”…

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  • IBM: AI will change every job and increase demand for creative skills

    VENTUREBEAT

    Artificial intelligence is likely to change how every job is performed, eliminating work related to repetitive tasks but increasing the need for creative thinkers, according to a new study. These findings are contained in a report released this week by the MIT-IBM Watson AI Lab called “The Future of Work: How New Technologies Are Transforming Tasks.” The study found signs that AI is beginning to slowly redefine the nature of tasks performed in certain jobs as automation gains ground.

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  • Moovit taps Waze to bring carpooling to its urban transport app

    VENTUREBEAT

    Waze, the Google-owned GPS navigation app for drivers, is integrating its carpool service into Moovit, the first time Waze Carpool data has been available through any third-party transit app. While Waze is better known for its flagship GPS app with real-time data provided by a global community of drivers, the company launched a dedicated carpool service in its native Israel way back in 2015 and in the intervening years has expanded it to Brazil, Mexico, and finally the U.S., where it launched…

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  • This former Uber exec wants to design and furnish your next apartment

    TECHCRUNCH

    Chan Park feels like “an eternal nomad.” He has since age 12, when he moved from Korea to the U.S., where he attended middle school in Minnesota, followed by high school in New Jersey, followed by college in New Hampshire. Then he really began to bounce around. Park worked as a trader in New York out of college, embraced the ski-bum life in Utah, then headed to Asia for Uber, where he spent six years, running its expansion team, then managing its entire Southeast Asia business out of Singapore….

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  • 5G Will Open Up CRE Investment Opportunities

    GLOBEST

    The new technologies we only read about a few years ago are here. The internet of things, streaming and 5G, artificial intelligence, autonomous vehicles, online streaming and e-commerce services are all coming in fast and furious. And they promise to touch the lives of many Americans. With the development of autonomous vehicles, internet of things devices and high-resolution content for artificial intelligence and augmented reality, Pacer ETF analysts predict that total global internet traffi…

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  • Real Estate Fintech PeerStreet Raises $60 Million In Series C Funding

    FORBES

    With the economy heading toward a potential slowdown investors are looking for alternatives to stocks and bonds and are turning to real estate as a result. That’s benefiting PeerStreet and financial technology startups like it. Since 2013 Los Angeles-based PeerStreet has been operating an investment platform that makes it easy for investors to purchase real estate debt. The startup purchases loans from private lenders around the country, aggregates them and creates a pool of loans that inves…

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