6 Ways to Diversify Your Real Estate Investment Portfolio

From the very first year I started buying and controlling property on terms, I kept in mind the importance of diversity. Aside from the obvious long-term safety reasons, if you recall from past articles or from my bestselling book Real Estate on Your Own Terms, 2008 dealt me a pretty big blow. That’s why it’s super important to diversify and buy properly so as not to ever experience that again.

Spotlight

JE Dunn Construction

JE Dunn Construction Company is family and employee owned and has been a leader in the commercial construction industry since 1924. Headquartered in Kansas City, Missouri, JE Dunn has 20 offices nationally and employs over 2,500 employees. The Company provides General Construction/CM @ Risk, Construction Management - Agency, and Design-Build Services. In Engineering News-Record (ENR) magazine's Top 400 Contractors survey, JE Dunn is ranked consistently among the top contractors nationwide in several specialty areas.

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Real Estate Technology

3 High-ROI Home Improvement Projects

Article | July 21, 2022

Considering a remodeling project? Before getting started, establish a list of return on investment (ROI) goals, because not all home improvements are created equal. Some add value to the home that can be recouped when selling, while others may be nice to have but are unlikely to raise the home's asking price. Anyone who wants to focus on home improvements that will pay for themselves when selling the home should know which projects to avoid. Read on to learn about three home improvement projects with a strong return on investment. Upgraded Landscaping For homeowners looking for a better price when they sell, it's hard to go wrong with landscaping. This is one of the few home improvements that typically yields a positive return when selling the home. On average, homeowners can recoup 150% of what they spend updating a home's landscaping. Since curb appeal is a huge factor in selling a home, choose improvements that can be seen from the road for the best return. Resodding or reseeding a lawn is a project that typically provides good returns. In an arid climate like Nevada, consider landscaping with native plants, xeriscaping, and other eco-friendly desert landscaping options to reduce water usage and maintenance requirements. Adding new trees to the landscaping can pay off now and at the time of sale. Trees provide shade and natural cooling, which can take a chunk out of power bills. When selling, trees add between $1,000 and $10,000 to the selling price of a home. Creating a Dazzling Entryway Continue the strong first impression by creating a welcoming space in the entryway of the home. Upgrading to manufactured stone veneer has a return on investment of around 96%. The improvement is relatively simple but makes the front door and the surrounding area more dramatic. Even small improvements can have a big impact. Upgrade to a metal door or one with small windows that let in additional light. Find upgraded house numbers that are visually appealing and easy to see. This often costs less than $100 but can improve the look and feel of the entry area and practically pay for itself when it's time to sell. Minor Kitchen Remodeling The kitchen is the heart of the home. This is the room that is one of the top choices for home improvement projects. However, contrary to what one might expect, huge kitchen overhauls don't always yield a high ROI. In fact, less costly improvements typically have a better payoff. Small projects that can dramatically improve a kitchen include: Repainting Refacing the cabinets and adding updated hardware Replacing countertops Upgrading to more energy-efficient appliances Choosing more energy-efficient appliances is an upgrade that can start repaying itself right away. Other improvements are likely to increase the price of the home when it sells. However, on average, kitchen remodeling projects only bring in 77% of their cost when it's time to sell. Because of this, homeowners should focus on upgrades that improve their quality of life and what they are likely to get back for their investment. Some common mistakes can reduce what a homeowner will get back from a kitchen remodeling project. Investing large amounts of money on items that will need to be replaced again in a few years is unlikely to provide a positive return. Choosing items that are too high-end can cause them to clash with the look and feel of the rest of the home, which could turn buyers off. Improve Daily Life and ROI With These Home Improvement Projects Most home improvement projects do not pay for themselves in full when selling the home. Rather, they are changes that make the home worth more to the owner now, that have the bonus of a price increase when you sell the home. The right home improvement project can make any house feel like a new construction home. Homeowners should look to areas that will give them the most mileage when picking updates for their homes. For instance, old kitchen cabinets can make the room feel dull and uninviting. Refacing with a bright new finish can make the kitchen feel like a brand-new room. Adding low-maintenance shrubs to the front yard adds visual interest that can be enjoyed right away. Projects that require special permits could raise questions during a home inspection and potentially reduce the home's value—but properly permitted additions may let homeowners list a home with an extra bedroom or bathroom. Choose the updates that will provide the most meaningful benefits, both now and at the time of sale. By making the home inviting and attractive, sellers are more likely to be able to name their dream price.

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Real Estate Investment, Asset Management

A Guide to Measure Data-driven Real Estate Asset Management Services

Article | May 5, 2023

Explore the latest trends, tools, and strategies for optimizing data-driven real estate asset management services and achieving long-term success with a comprehensive guide to improving business ROIs. Contents 1 Importance of Data-driven Model for Real Estate Asset Management 2 Seven Steps to Measure Data-driven Asset Management 2.1 Defining the Purpose and Scope 2.2 Identifying the KPI 2.3 Determining the Sources 2.4 Collecting and Cleaning Data 2.5 Data Analysis 2.6 Performance Evaluation 2.7 Continuous Monitoring 3 Effectiveness Metrics for Data-Driven Asset Management 3.1 Occupancy Rate 3.2 Operating Expense Ratio 3.3 Tenant Retention Rate 4 Conclusion 1. Importance of Data-driven Model for Real Estate Asset Management As real estate technology continues to develop and become more cost-effective for both new and existing business structures, and as collaboration platforms, sensors, and smart devices continue to advance, the amount of data produced by commercial real estate assets is growing exponentially. This data can give real estate market participants like investors, asset managers, property managers, and tenants a competitive advantage and help them avoid disruption if they develop data-driven services and new business models centered on the specific needs of users, owners, or the property itself. However, only a concerted effort by all real estate stakeholders including builders, investors, owners, tenants, and service providers towards data-driven real estate asset management can optimize data to generate insights that improve performance and profitability. The significance of data-driven models in real estate asset management is growing as the models enable more informed decision-making and more efficient operations by collecting and analyzing data from various sources. Real estate asset managers can gain a greater understanding of the performance of their assets and make more informed management decisions. This can result in increased efficiency, profitability, and tenant satisfaction. 2. Seven Steps to Measure Data-driven Asset Management Measuring the effectiveness of data-driven real estate asset management services enables businesses to evaluate their current strategies and identify areas for improvement in the services they offer By following these steps to measure asset performance, processes, and activities, businesses can gain insights and make data-driven decisions to optimize performance and maximize returns. 2.1 Defining the Purpose and Scope The process of measuring data-driven real estate asset management services begins with a clear definition of the purpose and scope of the measurement. It involves conducting a comprehensive review of the business goals as well as identifying specific objectives and purposes for the strategies to develop a well-defined purpose and scope for measuring the effectiveness of asset management services. It helps to ensure that the real estate asset management services are aligned with the broader business strategy. 2.2 Identifying the KPIs Defining the purpose and scope of data-driven asset management is followed by identifying KPIs to measure success. It requires a clear understanding of critical areas of asset management and selecting quantifiable measures to define success factors and track progress. Choosing the right KPIs provides valuable insights into asset performance, enabling real estate executives and managers to make informed, data-driven decisions to optimize performance and maximize returns. 2.3 Determining the Sources Identifying the data type, including financial, property, market, and tenant, is essential to determine the sources for evaluating data-driven asset management services. After establishing the data requirements, the sources, such as internal systems and databases, third-party data providers, and publicly accessible data sources, are determined with data compliance and security as the determining factor. Determining sources ensures that the asset management data is trustworthy, current, and accurate, which impacts subsequent decision-making. This step provides the groundwork for data-driven decision-making. 2.4 Collecting and Cleaning Data Data collection and cleansing are essential for measuring data-driven asset management services. The collected data must be precise, exhaustive, and dependable for subsequent analysis and decision-making. The step involves validating the data for completeness and accuracy, eliminating errors, inconsistencies, and duplicates, and standardizing the data across all sources. The process identifies improvement opportunities, optimizing real estate asset management services for maximum efficiency and profitability. 2.5 Data Analysis Data analysis plays a critical role in measuring data-driven asset management services. After finalizing the data collection and cleaning step, the data is analyzed using various techniques such as statistical analysis, predictive modeling, and data visualization. These techniques help to identify trends, patterns, and relationships that provide insights into asset performance. Data analysis provides a more profound understanding of the performance of real estate assets, leading to improved efficiency, increased profitability, and enhanced tenant satisfaction. 2.6 Performance Evaluation Evaluation of data performance to comprehend improvements in the data-driven asset management services starts once the data is analyzed. The performance evaluation step involves comparing actual results to the established KPIs to determine whether the goals are being met or whether there are areas for improvement. It aids in identifying deviations from predetermined objectives and prompts and taking required corrective actions to realign with the business strategy. In addition, this step facilitates identifying improvement opportunities and ensures that real estate asset management services are optimized for maximum efficiency and profitability. 2.7 Continuous Monitoring Measurement of data-driven real estate asset management services ends with continuous monitoring. To ensure asset management strategies are working, continuously tracking and evaluating KPIs from earlier steps while identifying underperformance and improvement opportunities is involved in the last stage. Operation managers can make data-driven choices, identify risks and opportunities, and optimize asset management strategies for efficiency and profitability by monitoring real estate asset performance. In addition, it ensures that real estate asset management services remain effective over time and can adapt to market changes to maintain a competitive edge. 3. Effectiveness Metrics for Data-Driven Asset Management Effectiveness metrics for data-driven asset management services are the KPIs used to measure the success of data-driven strategies. These metrics help real estate executives and managers evaluate the performance of their assets and make data-driven decisions for maximum efficiency and profitability. 3.1 Occupancy Rate The occupancy rate is an essential metric in data-driven real estate asset management. This metric indicates the proportion of a property's rental units that are occupied at present. A higher occupancy rate suggests the property performs well, as more tenants occupy the units. Therefore, this metric can be used by real estate businesses to gauge the efficacy of their digital asset management strategies. 3.2 Operating Expense Ratio The operating expense ratio is used to evaluate a property's operational efficiency for data-driven asset management. It is calculated by dividing the operating expenses incurred by the property by the total rental income generated. It helps measure the proportion of income consumed by the expenses, such as maintenance costs, utilities, and commercial property management fees. A lower operating expense ratio indicates better cost control and efficient use of resources, resulting in increased profitability for the real estate asset. 3.3 Tenant Retention Rate In real estate asset management, the tenant retention rate is an essential metric that measures the proportion of tenants who choose to renew their lease agreements. It is an essential indicator of tenant satisfaction and the quality of property management services. A higher tenant retention rate indicates that tenants are satisfied with the property and management, resulting in a stable tenant base, lower vacancy rates, and decreased costs associated with tenant turnover. 4. Conclusion The significance of utilizing data-driven models for real estate asset management is rising due to digital real estate asset management, technological advancements, and the expansion of collaboration platforms, sensors, and intelligent devices. To gain a competitive edge and avoid disruption, stakeholders in the real estate industry must prioritize the development of data-driven services and innovative business models that cater to the unique needs of users, owners, and the property itself. In addition, the use of data-driven models can also lead to more efficient and informed decision-making, reducing costs along with increasing profits and improving real estate portfolio management.

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Real Estate Technology

What Property Investors Need to Know About Sustainable And Impact Investing

Article | July 18, 2022

There’s no escaping the importance of sustainability in any investment sector. Globally, Environmental, Social and Governance (ESG) investing is worth $30 trillion in assets under management each year, around a quarter of all professionally-managed assets. It is more relevant than ever as the ‘high impact, low probability’ shock imposed by Covid-19 has strengthened the case for prioritising people and planet alongside profits, and illustrated the power of collective action to tackle global problems. Many investors are unaware how significant this trend will be. If you are an investor, you need to consider why sustainability will be important, what sustainable property investing actually means, and what the major issues and opportunities are, as these will affect your risks and returns. Why is sustainability so important for investors? The UK’s legally-binding commitment to achieve net carbon zero by 2050 means that sustainability is no longer a ‘nice to have’. Our legal obligation is showing up in the form of new rules, regulations and best practices affecting all sectors that contribute to emissions. 40 per cent of UK emissions come from households, which makes the chance of more regulations and policies around the environmental performance of property more likely than not. These regulations will not only affect your ability to operate in a way that is compliant, but fundamentally change the value, performance and risk associated with your investments.

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Commercial Lease Considerations in Light of the COVID-19 Pandemic

Article | April 16, 2020

It has already been approximately one month since the COVID-19 pandemic thrust the commercial real estate industry in Canada into chaos. Landlords and tenants alike continue to face a litany of issues not previously seen in modern times. Many tenants are fighting for their continued survival, with some jurisdictions in Canada reporting that as many as half of the businesses closed will not re-open once this crisis is over. Landlords are grappling with how to keep their projects viable with so many vacancies looming and cash flow becoming increasingly restricted. How the industry addresses and emerges from the recent events will determine not only the immediate future, but also the long-term evolution of our industry.So how do commercial landlords and tenants proceed in these uncertain times? Below are some key considerations for both landlords and tenants alike.

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Spotlight

JE Dunn Construction

JE Dunn Construction Company is family and employee owned and has been a leader in the commercial construction industry since 1924. Headquartered in Kansas City, Missouri, JE Dunn has 20 offices nationally and employs over 2,500 employees. The Company provides General Construction/CM @ Risk, Construction Management - Agency, and Design-Build Services. In Engineering News-Record (ENR) magazine's Top 400 Contractors survey, JE Dunn is ranked consistently among the top contractors nationwide in several specialty areas.

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Real Estate Technology

SmartRent Launches Alloy SmartHome Hub+

Business Wire | January 25, 2024

SmartRent, Inc., the leading provider of smart home and property operations solutions for the rental housing industry, today announced the launch of Alloy SmartHome Hub+, the Company’s first thermostat with an integrated smart hub device developed under its Alloy SmartHome hardware brand. This innovative product, one of few on the market that integrates a thermostat with a smart hub device, operates on Z-Wave protocol and has less hardware to install and maintain. In addition to the built-in thermostat technology, Alloy SmartHome Hub+ establishes a single interface to control connected smart home devices, enabling users to turn off multiple lights in a home at once, remotely lock and unlock doors, receive alerts and automatically notify maintenance when a sensor detects a leak. “Alloy SmartHome Hub+, a device years in the making, is our latest solution that paves the way for the next generation of smarter living and working in rental housing,” said SmartRent CEO Lucas Haldeman. “Designed with our customers’ needs in mind, and inclusive of the feedback they’ve shared about the desire for less hardware, Alloy SmartHome Hub+ delivers sophistication and convenience, all while driving rent growth. Feedback from our beta pilot has been positive, and customer interest indicates eager demand to deploy this solution at scale. We are proud to bring Alloy SmartHome Hub+ to the market at large and to continue eliminating obstacles and easing implementation in the industry.” This high-value yet economical device builds upon existing SmartRent technologies by consolidating the hub hardware within a smart thermostat, which streamlines procurement, expedites installation and IoT setup. Alloy SmartHome Hub+ can be configured and paired with most HVAC systems and is compatible with smart locks, smart lights, leak sensors and other Z-Wave devices. About SmartRent Founded in 2017, SmartRent, Inc. is a leading provider of smart home and smart property solutions for the multifamily industry. The company’s unmatched platform, comprised of smart hardware and cloud-based SaaS solutions, gives operators seamless visibility and control over real estate assets, empowering them to simplify operations, automate workflows, benefit from additional revenue opportunities and deliver exceptional site team and resident experiences. SmartRent serves 15 of the top 20 multifamily owners and operators, and its solutions enable millions of users to live smarter every day.

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Real Estate Technology

EVORA Global Announces Acquisition of Metry

Business Wire | January 25, 2024

EVORA Global, a leading provider of tech-enabled sustainability solutions to the real asset industry, today announces its strategic acquisition of Metry, Europe’s number one platform for environmental data collection. The move will establish new standards in data excellence and technological innovation, delivering comprehensive data solutions for the global real estate and infrastructure investment industry. The acquisition signifies an improved level of data automation and quality for EVORA’s clients, achieved through direct connections to fiscal meters and hubs. This approach eliminates data gaps and reinforces the overall reliability of information provided into their analytics and content management platform, SIERA. EVORA's dedication to data quality and validation underscores the company's commitment to ensuring that all sustainability data is analytics-ready, combining external data sources with EVORA's expertise in regulations and carbon accounting, whilst simultaneously upholding the highest standards in the industry. Metry's customers will gain access to EVORA's expertise in setting strategy and implementing net-zero carbon initiatives in their real asset portfolios, broadening the value proposition available to them. This collaborative expertise - integrating human insights with advanced technology - is a testament to the forward-thinking approach of both companies. "We are thrilled to welcome Metry into the EVORA family," said Pradeep Menon, EVORA Global CEO. "This strategic acquisition marks a significant milestone in our journey to empower real asset investors with the tools and data needed to drive sustainable practices in the built environment. It will enable us to offer unparalleled services to our clients, solving for the climate challenge.” “This the perfect match,” said Magnus Hornef, Metry CEO and co-founder, who will be joining EVORA’s Executive Committee as Chief Data Officer. “We are enabling each other to make a bigger impact faster and I’m really excited about expanding our data collection capabilities to all of EVORA’s customers. It is a giant leap towards connecting every building with reliable data and automated collection.” About EVORA Global: EVORA Global is a premier sustainability advisor, providing comprehensive, industry-leading climate solutions for real asset investors. With over a decade of experience, EVORA is dedicated to addressing the climate challenge posed by the real asset industry, focusing on the needs of investors in the built environment. Its clients include many of the biggest names in global real estate, including Invesco Real Estate, Hines and M&G. Founded in 2011, the company now has over 200 staff and 150 clients. About Metry: Metry is the #1 platform for environmental data collection in Europe, with a primary focus on energy data. With over a decade of expertise, Metry empowers companies to develop and use energy-saving technologies and IoT solutions, contributing to real change for the environment. Currently serving over 200 companies in more than 10 countries, Metry is actively expanding internationally to offer full data collection coverage in Europe.

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Real Estate Technology

Cushman & Wakefield Collaborates with Microsoft to Enhance AI Technology Platform

Business Wire | January 25, 2024

Cushman & Wakefield, a global leader in real estate services, today announced the firm is working with Microsoft to deploy an advanced suite of artificial intelligence (AI) solutions. “We are committed to seamlessly integrating our people with the right technology and processes to enhance service offerings to our clients. Today’s launch of the use of Microsoft Azure OpenAI Service and Copilot for Microsoft 365 at Cushman & Wakefield again demonstrates our ability to pair robust technologies with market intelligence and expertise,” said Salumeh Companieh, Chief Information & Data Officer, Cushman & Wakefield. Since 2018, Cushman & Wakefield has been focused on aligning business, data, and operations. Results to date range from an 80% material reduction in operational cycle time, to a reduction of client supply chain costs via proprietary supply chain network optimization capabilities. Azure OpenAI Service Azure OpenAI Service is a cloud-based generative AI solution that offers customers a range of capabilities, including access to cutting-edge AI models, backed by the power of Azure. With Azure OpenAI Service, Cushman & Wakefield can benefit from the power of cloud computing, data analytics, and artificial intelligence to deliver innovative solutions for its clients and stakeholders. Azure OpenAI Service enables Cushman & Wakefield to create custom copilots that can enhance customer experience, improve operational efficiency, and increase competitive advantage. The platform enables developers to build, deploy, and manage AI solutions for various scenarios and domains. Some of the features of Azure OpenAI Service include machine learning, cognitive services, bot framework, computer vision, natural language processing, speech recognition and more. Microsoft Technology Centers Microsoft Technology Centers are facilities that provide immersive experiences and deep technical engagements in 50+ locations around the world. Microsoft Technology Center architects collaborate with academic, industry, and government partners to advance the state of the art in AI and create positive impact for society. The Microsoft Technology Center is providing Cushman & Wakefield with access to cutting-edge research, tools, and top specialists from Microsoft and its partners to develop powerful and adaptable applications that use AI features. It is also providing insight into various areas and problems that need AI solutions, with learning and improvement through feedback and advice. Copilot for Microsoft 365 Copilot for Microsoft 365 brings the power of next-generation AI, grounded in the user and company’s data, to Microsoft’s workplace productivity tools like Teams and Outlook and Word. It works alongside users to provide suggestions, summaries, generate, analyze and explore content and data across documents, presentations, spreadsheets, notes, chats, email, meetings, and more. Ensuring the safety and security of interactions with Generative AI is a crucial value driver for Cushman & Wakefield. Copilot for Microsoft 365 offers a high level of security for how the firm leverages GPT models, providing confidence that data is not exposed for training and does not leave the company’s ecosystem, thus safeguarding confidential information. “With this next generation of AI, we have a unique opportunity to accelerate innovation at Cushman & Wakefield and across commercial real estate,” said Laura Craig, General Manager, Data & AI, Microsoft. “We’re collaborating with Cushman & Wakefield to bring together AI advances that benefit from Microsoft Azure OpenAI Service and Copilot for Microsoft 365 to empower the firm’s professionals with new, AI-powered tools.” About Cushman & Wakefield Cushman & Wakefield is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In 2022, the firm reported revenue of $10.1 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more.

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Real Estate Technology

SmartRent Launches Alloy SmartHome Hub+

Business Wire | January 25, 2024

SmartRent, Inc., the leading provider of smart home and property operations solutions for the rental housing industry, today announced the launch of Alloy SmartHome Hub+, the Company’s first thermostat with an integrated smart hub device developed under its Alloy SmartHome hardware brand. This innovative product, one of few on the market that integrates a thermostat with a smart hub device, operates on Z-Wave protocol and has less hardware to install and maintain. In addition to the built-in thermostat technology, Alloy SmartHome Hub+ establishes a single interface to control connected smart home devices, enabling users to turn off multiple lights in a home at once, remotely lock and unlock doors, receive alerts and automatically notify maintenance when a sensor detects a leak. “Alloy SmartHome Hub+, a device years in the making, is our latest solution that paves the way for the next generation of smarter living and working in rental housing,” said SmartRent CEO Lucas Haldeman. “Designed with our customers’ needs in mind, and inclusive of the feedback they’ve shared about the desire for less hardware, Alloy SmartHome Hub+ delivers sophistication and convenience, all while driving rent growth. Feedback from our beta pilot has been positive, and customer interest indicates eager demand to deploy this solution at scale. We are proud to bring Alloy SmartHome Hub+ to the market at large and to continue eliminating obstacles and easing implementation in the industry.” This high-value yet economical device builds upon existing SmartRent technologies by consolidating the hub hardware within a smart thermostat, which streamlines procurement, expedites installation and IoT setup. Alloy SmartHome Hub+ can be configured and paired with most HVAC systems and is compatible with smart locks, smart lights, leak sensors and other Z-Wave devices. About SmartRent Founded in 2017, SmartRent, Inc. is a leading provider of smart home and smart property solutions for the multifamily industry. The company’s unmatched platform, comprised of smart hardware and cloud-based SaaS solutions, gives operators seamless visibility and control over real estate assets, empowering them to simplify operations, automate workflows, benefit from additional revenue opportunities and deliver exceptional site team and resident experiences. SmartRent serves 15 of the top 20 multifamily owners and operators, and its solutions enable millions of users to live smarter every day.

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Real Estate Technology

EVORA Global Announces Acquisition of Metry

Business Wire | January 25, 2024

EVORA Global, a leading provider of tech-enabled sustainability solutions to the real asset industry, today announces its strategic acquisition of Metry, Europe’s number one platform for environmental data collection. The move will establish new standards in data excellence and technological innovation, delivering comprehensive data solutions for the global real estate and infrastructure investment industry. The acquisition signifies an improved level of data automation and quality for EVORA’s clients, achieved through direct connections to fiscal meters and hubs. This approach eliminates data gaps and reinforces the overall reliability of information provided into their analytics and content management platform, SIERA. EVORA's dedication to data quality and validation underscores the company's commitment to ensuring that all sustainability data is analytics-ready, combining external data sources with EVORA's expertise in regulations and carbon accounting, whilst simultaneously upholding the highest standards in the industry. Metry's customers will gain access to EVORA's expertise in setting strategy and implementing net-zero carbon initiatives in their real asset portfolios, broadening the value proposition available to them. This collaborative expertise - integrating human insights with advanced technology - is a testament to the forward-thinking approach of both companies. "We are thrilled to welcome Metry into the EVORA family," said Pradeep Menon, EVORA Global CEO. "This strategic acquisition marks a significant milestone in our journey to empower real asset investors with the tools and data needed to drive sustainable practices in the built environment. It will enable us to offer unparalleled services to our clients, solving for the climate challenge.” “This the perfect match,” said Magnus Hornef, Metry CEO and co-founder, who will be joining EVORA’s Executive Committee as Chief Data Officer. “We are enabling each other to make a bigger impact faster and I’m really excited about expanding our data collection capabilities to all of EVORA’s customers. It is a giant leap towards connecting every building with reliable data and automated collection.” About EVORA Global: EVORA Global is a premier sustainability advisor, providing comprehensive, industry-leading climate solutions for real asset investors. With over a decade of experience, EVORA is dedicated to addressing the climate challenge posed by the real asset industry, focusing on the needs of investors in the built environment. Its clients include many of the biggest names in global real estate, including Invesco Real Estate, Hines and M&G. Founded in 2011, the company now has over 200 staff and 150 clients. About Metry: Metry is the #1 platform for environmental data collection in Europe, with a primary focus on energy data. With over a decade of expertise, Metry empowers companies to develop and use energy-saving technologies and IoT solutions, contributing to real change for the environment. Currently serving over 200 companies in more than 10 countries, Metry is actively expanding internationally to offer full data collection coverage in Europe.

Read More

Real Estate Technology

Cushman & Wakefield Collaborates with Microsoft to Enhance AI Technology Platform

Business Wire | January 25, 2024

Cushman & Wakefield, a global leader in real estate services, today announced the firm is working with Microsoft to deploy an advanced suite of artificial intelligence (AI) solutions. “We are committed to seamlessly integrating our people with the right technology and processes to enhance service offerings to our clients. Today’s launch of the use of Microsoft Azure OpenAI Service and Copilot for Microsoft 365 at Cushman & Wakefield again demonstrates our ability to pair robust technologies with market intelligence and expertise,” said Salumeh Companieh, Chief Information & Data Officer, Cushman & Wakefield. Since 2018, Cushman & Wakefield has been focused on aligning business, data, and operations. Results to date range from an 80% material reduction in operational cycle time, to a reduction of client supply chain costs via proprietary supply chain network optimization capabilities. Azure OpenAI Service Azure OpenAI Service is a cloud-based generative AI solution that offers customers a range of capabilities, including access to cutting-edge AI models, backed by the power of Azure. With Azure OpenAI Service, Cushman & Wakefield can benefit from the power of cloud computing, data analytics, and artificial intelligence to deliver innovative solutions for its clients and stakeholders. Azure OpenAI Service enables Cushman & Wakefield to create custom copilots that can enhance customer experience, improve operational efficiency, and increase competitive advantage. The platform enables developers to build, deploy, and manage AI solutions for various scenarios and domains. Some of the features of Azure OpenAI Service include machine learning, cognitive services, bot framework, computer vision, natural language processing, speech recognition and more. Microsoft Technology Centers Microsoft Technology Centers are facilities that provide immersive experiences and deep technical engagements in 50+ locations around the world. Microsoft Technology Center architects collaborate with academic, industry, and government partners to advance the state of the art in AI and create positive impact for society. The Microsoft Technology Center is providing Cushman & Wakefield with access to cutting-edge research, tools, and top specialists from Microsoft and its partners to develop powerful and adaptable applications that use AI features. It is also providing insight into various areas and problems that need AI solutions, with learning and improvement through feedback and advice. Copilot for Microsoft 365 Copilot for Microsoft 365 brings the power of next-generation AI, grounded in the user and company’s data, to Microsoft’s workplace productivity tools like Teams and Outlook and Word. It works alongside users to provide suggestions, summaries, generate, analyze and explore content and data across documents, presentations, spreadsheets, notes, chats, email, meetings, and more. Ensuring the safety and security of interactions with Generative AI is a crucial value driver for Cushman & Wakefield. Copilot for Microsoft 365 offers a high level of security for how the firm leverages GPT models, providing confidence that data is not exposed for training and does not leave the company’s ecosystem, thus safeguarding confidential information. “With this next generation of AI, we have a unique opportunity to accelerate innovation at Cushman & Wakefield and across commercial real estate,” said Laura Craig, General Manager, Data & AI, Microsoft. “We’re collaborating with Cushman & Wakefield to bring together AI advances that benefit from Microsoft Azure OpenAI Service and Copilot for Microsoft 365 to empower the firm’s professionals with new, AI-powered tools.” About Cushman & Wakefield Cushman & Wakefield is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In 2022, the firm reported revenue of $10.1 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more.

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