Latest Trends and Insights in Real Estate Technology

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  • Compass’ top communications exec to depart

    THE REAL DEAL

    Jason Post, Compass’ head of communications, is leaving the SoftBank-backed brokerage after nine months on the job. The former Uber executive is taking a job at Google, he said. “I’m proud of what I accomplished at Compass, but I’m excited to move on to a new opportunity and I wish everyone at Compass well,” said Post, who gave his notice last week but started telling people Tuesday. Post joined the real estate firm in January as vice president of communications following the departure …

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  • IREM’s Innovator-in-Residence: ‘Don’t Fear Tech; Embrace It’

    GLOBEST

    SAN FRANCISCO–Cutting through the confusion of new real estate management technology that’s springing up like weeds is the essential mission of James Scott, the recently hired Innovator-in-Residence for IREM (Institute of Real Estate Management). Scott, who is also lead researcher at the MIT Real Estate Innovation Lab, will bring the same message to the IREM Global Summit when it convenes here at the end of September….

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  • Providence Equity Closes Eighth Flagship Fund Above $6 Billion

    WSJ

    Providence Equity Partners, a private-equity firm known for its early bets on companies such as Hulu and Ironman, has raised more than $6 billion for its latest flagship fund, according to a person familiar with the matter. Fundraising for the vehicle, Providence Equity Partners VIII LP, closed on Sept. 5 above its $5 billion target, according to a memo to investors viewed by The Wall Street Journal. Providence’s previous flagship fund closed with $5 billion in 2013.

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  • Construction startup Katerra hires former James Hardie executive as new CFO

    THE REAL DEAL

    SoftBank-backed construction startup Katerra is bringing on a new CFO as part of a series of changes to its executive team. Matthew Marsh, a former executive at James Hardie and General Electric, is joining as the company’s new chief financial officer. In addition, Katerra has hired former private equity exec Mollie Fadule as the new head of its affordable housing program, and it’s appointed Lisa Picard, president and CEO of EQ Office, as a new board director.

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  • Radix Software Grows Portfolio to 2M Homes

    GLOBEST

    Multifamily software company Radix has grown its portfolio to 2 million apartment homes. The cloud-based software has reached 2 million active apartment homes. Company leadership says that the benchmark is a testament to the firm’s ability to transform the creation of market surveys.

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  • WeWork Wants to Be More Than Office Space. It Hasn’t Had Much Success.

    WSJ

    We Co. Chief Executive Adam Neumann likes to say that office space is for WeWork what books were for Amazon.com Inc. —just the beginning. His vision spans schools, gyms and retail. He even boasted that his rental-apartment venture WeLive would become bigger than WeWork. That vision remains far off. After investing hundreds of millions of dollars in more than half a dozen side businesses like education, wellness and short-term apartment rentals, We has struggled to demonstrate that any of…

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  • How Hackers Could Break Into the Smart City

    WSJ

    Smart cities are coming. And you can be sure that hackers won’t be very far behind. We’ve already gotten a glimpse of that future, as cities across the globe start to use technology to connect their services and residents in ways that were science fiction just a few years ago. They are using sensors to collect data—about public utilities, traffic, garbage collecting, road conditions and much more—and then using that data to deliver services to more people and more efficiently.

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  • Biproxi Raises $10M Seed To Become The ‘Zillow of Commercial Real Estate’

    CRUNCHBASE

    Biproxi​, a commercial real estate (CRE) transaction platform aiming to be the “Zillow of commercial real estate,” among other things, has raised $10 million in a seed round led by Greycroft. Commercial real estate brokerage Newmark Knight Frank participated in the rather large seed round along with RPM Ventures, and the National Association of Realtors, which earlier this year launched its first commercial real estate technology accelerator (dubbed Second Century Ventures)….

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  • Tom Barrack Is Done With Traditional Real Estate. He’s Going Digital.

    WSJ

    Colony Capital Inc. is making one of the most aggressive bets yet that technology is disrupting real estate: It is selling nearly all of its traditional holdings and channeling the money into property that focuses on the tech sector. The Los Angeles-based real-estate firm is a global investor with $55 billion in assets under management. Colony aims to sell as much as 90% of its $20 billion property portfolio of hotels, warehouses and other commercial real estate by the end of 2021, company of…

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  • The WeWork Of Weed: This Investor Wants 30 Cannabis Campuses Across The Nation

    BISNOW

    Cannabis-focused commercial real estate has spawned everything from cannabis coworking to cannabis pop-up retail to cannabis REITs. Now, one entrepreneur has expansive plans to bolster the industry’s national supply chain, with the goal of investing hundreds of millions of dollars in 30 cannabis contract manufacturing facilities over the next 10 years.

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