Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
VENTUREBEAT
Google’s AI Platform, a cloud-hosted service facilitating machine learning and data science workflows, today gained a new feature in backend models that tap powerful Nvidia graphics chips. In related news, Google debuted a refreshed model training experience that allows users to run a training script on any range of hardware.
GLOBEST
NEW YORK CITY – For Ten-X Commercial, a commercial real estate technology firm, the year 2020 is all about leveraging the data it’s collected for the past decade it has been in business, Maureen Waters, president of the firm, tells GlobeSt.com. “In 2020, for us, it is all about the data. Ten-X has data over ten years, and we want to take that data and think about how to connect it with human and science,” she said. The San Francisco-headquartered firm is developing an artificial intelligen…
COMMERCIAL OBSERVER
Landlords and builders aren’t the only stakeholders who’ll sooner or later have to reckon with an influx of new smart-building technology. Before too much longer, anyone who sets foot inside a commercial building won’t be able to avoid parlaying with some bleeps, bloops and bots. Panelists at Commercial Observer’s Building Tech Forum in Midtown on Wednesday pointed out that some hospital patients and hotel guests are already finding themselves interacting with fewer human staff members and mo…
WSJ
Investors and credit-rating firms are growing concerned about rising risks and weak controls at SoftBank Group Corp. 9984 -0.52% after the Japanese conglomerate’s nearly $10 billion bailout of WeWork. SoftBank announced late Tuesday it would spend $4.5 billion in share purchases and around $5 billion on debt financing to rescue the floundering office-share firm. SoftBank and its $100 billion Vision Fund, which is backed mainly by the company and two Middle East sovereign-wealth funds, had alr…
WSJ
Blackstone Group Inc. BX 1.56% is betting that the rise of online shopping will remain a bright spot in the face of slowing global economic growth. But it isn’t buying retailers. It’s buying warehouses. The private-equity giant’s real-estate funds have done some of the year’s biggest buyouts, announcing an $18.7 billion purchase of warehouses from Singapore-based GLP in June and signing a deal in September to buy a portfolio of warehouses from Colony Capital Inc. for $5.9 billion. Both price …
MANN PUBLICATIONS
Planned Companies, a real estate service provider, is unveiling its fully-integrated communications platform, Employee Nexus at CREtech New York, which will be available for companies with a significant portion of their employees who are regularly in the field. The technology service aims to deliver a solution for easy, measurable, two-way communication between an employer and its employees.
SPATIAL.AI
Atlanta, GA – October 23, 2019 – TSCG (formerly The Shopping Center Group) / TSCG Analytics, a leading provider in real estate analytics and advisory services, and Spatial.ai have announced the integration of Geosocial data into TSCG’s location analytics toolset. TSCG advisors and analysts will now be able to leverage location-based social media data to better understand consumers: their attitudes, their behaviors, and the shopping and dining experiences that interest them most. Through t…
GLOBEST
AUSTIN, TX—The percentage of global city dwellers today is 55%, a number that is expected to increase to 68% by 2050. While urban migration patterns increase populations in metropolitan areas around the world, and cities become hubs of business, technology and culture, expansion is restricted by deteriorating infrastructure and declining surface capacity. Urban areas are experiencing an evolution from the previous model of disjointed transportation and navigation to intelligent mobility syste…
WSJ
Adam Neumann stands to receive up to $1.7 billion as part of a deal with SoftBank Group Corp. to step away from office-space startup WeWork. The company’s employees aren’t doing so well. Thousands of staff are slated to be laid off soon as the company rapidly tries to cut costs and steer the money-losing company toward a path to profit, according to people familiar with the strategy.
THE REAL DEAL
Bowery Valuation, a tech-enabled appraisal startup, has raised $8 million in a funding round led by real estate firm Lightstone Group. The New York-based startup, run by former appraisers Noah Isaacs and John Meadows, has raised $27 million since its founding in 2015. Nine Four Ventures and Greenspring Associates also participated in the firm’s latest round, which follows the company’s $12 million Series A earlier this year. Lightstone Group, led by David Lichtenstein, has dabbled in investme…
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