EVERYTHING YOU NEED TO KNOW ABOUT REAL ESTATE

Real estate investing is one of the best strategies for building long-term wealth. However, before investing in real estate, you need to do some research. You want to learn as much as you can before you start to make moves in the housing market. To help you start your journey on the right foot, here is everything you need to know about real estate:

Spotlight

Boston Properties

Boston Properties, Inc. (the "Company"​), a self-administered and self-managed real estate investment trust (REIT), is one of the largest owners, managers, and developers of first-class office properties in the United States, with a significant presence in five markets: Boston, Los Angeles, New York, San Francisco, and Washington, DC.

OTHER ARTICLES
Real Estate Investment, Asset Management

Smart Construction: Building Value through Interconnected Intelligence

Article | May 5, 2023

The construction industry, whether operating at the building level, infrastructure level, or city level, has undergone significant changes over the past decade, and the pace of change has only intensified in the past year. Opaque operating models are giving way to digitalization and transparency in every aspect of the industry, leading to better accountability of the business stakeholder ecosystem and better experience and quality of life for the end customers. The value realization for the sector is coming in three different ways, each with its set of technologies, tools, systems, and processes that lead to specific value maximization. 1. Connected Stakeholder Ecosystems Every stakeholder and their interactions and service provision to building and construction has been digitalized and automated. Architects, urban planners, designers have long been using tools and technologies. The use of 3D modeling and visualization, AR/VR platforms, and drone mapping are creating intuitive means to fast-track the design iteration process and reduce errors. Innovation has been happening in building materials and technologies for smart logistics and inventory management, which is digitalizing the procure to pay cycles and reducing the cost and sustainability footprint of the industry. Infratech is being included into civil construction, and information, communication, and operational tech hardware and software solutions are being integrated at the design stage itself. The industry uses the services of a network of internal and external third party providers and managers. The combination of mobile and enterprise applications, connectivity, and internet of things devices and variables is connecting these people together. Unified frameworks and digital and AI/ML tools allow seamless construction, management, and optimization of built spaces. The sales process is becoming highly digital with the use of customer relationship management platforms, channel management applications, and digital sales aids that blend AR/VR, 3D visualization, audio, video, and digital. The governance and financial mechanisms have evolved as well. Government bodies have digitalized and permissions, access rights, and payment mechanisms are increasingly digital. Regulators are moving towards real time sensor based monitoring and centralized digital reporting on effluents and emissions, aiming to improve sustainability metrics. An array of digital and cloud financial management tools, systems, and dashboards allow every aspect of the financial flow to and from entities to be managed, monitored, and optimized. The users, in both the customer and citizen persona, have become digitally savvy and experiential. The connected and sentient building, infrastructure, and city ecosystem increasingly allows for connected living where many services can already be accessed digitally. 2. Connected Lifecycle Management The construction industry is using digital and automation technologies at every stage of projects – from design to monetization of building, infrastructure, or city systems. Ingredient technologies such as internet of things, artificial intelligence, block chain, distributed computing, edge and mesh intelligence, cloud computing, big data analytics, and data visualization are allowing the industry to plan better and act predictively. The Design phase, in addition to using design and planning tools and technologies, is increasingly adopting concepts of wellness, biophilia, and blue-green integrations to blend technology and architecture. The Build phase has significantly transformed through innovative construction materials and methods, as well as digital, cloud, and sensor based solutions to monitor staff, progress, audits, and errors in construction. The entire land records management system in the country has been digitalized, and plans are underway to use drone based mapping to catalogue all assets and sites at a national level. The Sell phase is using technologies and platforms that have disintermediated some ecosystem partners and aggregated others, increasing the flow of information, communication, validations, and transactions. From marketing to site visits to legal documentation and commercial transactions, every step has been digitally transformed through a combination of AR/VR, AI/ML, digital, and cloud technologies. The Operate phase is seeing newer models of maintenance and management of assets over the long term. Tech enabled metering and monitoring allows for discretization of pay per use type of commercial arrangements, which can be digitally contracted and managed. This allows multi-stakeholder and multi-user assets to operate seamlessly. Multiple automation and real time monitoring systems and solutions – whether fully integrated or point solutions, are enhancing visibility and improving efficiency of operational performance. The Experience phase ensures an interplay of operational and service related systems and technologies allow the users to better access services at building, infrastructure, or city level. There is a lot of emphasis on enhancing customer experience by reducing wait times, improving service levels, creating areas and systems for interaction and engagement, and delivering a better quality of work or life to the end user. The Monetization phase is increasingly at the top of mind of administrators, owners, and operators of construction assets. Long return on investment cycles and complex modes of deployment of public and private capital predicate focus on easing the flow of money and identifying multiple modes of monetization to ensure that projects can succeed. Value added services through retail, advertising, data, or service based use cases are allowing for recurring revenues to be generated. Many of these services can be digitally conceptualized, delivered, and managed. 3. Connected Systems and Services Buildings and infrastructure spaces are increasingly envisioning themselves as an interconnected system of functions, utilities and services, all managed centrally and digitally through a building level control room or an infrastructure or city level integrated control and command center. The set of technologies first adopted for smart cities - such as networking and connectivity; smart management of water, waste, lighting, power, sewage, air quality and emissions; smart access to services and retail; interconnected mobility, parking, and traffic management; and managing request-response systems and on-demand servicing and issues management - are increasingly becoming important for buildings and infrastructure projects. Transport hubs are reimagining themselves as microcities. Road assets are creating logistics hubs and multiple digital monetization channels. Buildings are transforming into mixed use spaces that are accessed and managed digitally. On-demand, surge, discounted pricing mechanisms rely on complex algorithms and predictive forecasts. Multiple indices and standard comparative metrics are being considered by users, governments, regulators, and financiers of patient long-term capital. At the building level, Green ratings and Well Building standards are being measured and reported, and creating methods of differentiating premium and non-premium buildings. Global Infrastructure rankings rate countries in the quality and density and access of road, transport, utilities, and other major infrastructure systems and projects. Ease of Living Index and Sustainable Development Goals create the benchmarks to measure and monitor the performance and impact of city systems. Increasingly, gamification through Swachh Survekshan, Municipal Performance Index, and other city, state, and national level assessments is creating awareness and improving service levels. The indices themselves rely on a set on technology inclusion within projects and technology systems to aid performance measurement.

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Real Estate Investment, Asset Management

3 High-ROI Home Improvement Projects

Article | May 25, 2023

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 Technology

3 Ways to Simplify Leasing Out Your Commercial Property

Article | July 21, 2022

You have a commercial property and you need to lease it as soon as possible. In an ideal world, you would find a client as soon as your property is vacant. But we do not live in an ideal world. As a property owner or manager, you need to list your property, get the right contacts, and find a buyer who is ready to occupy immediately at a price that's efficient to you. It can be a tedious journey. That’s where a broker comes in. Filling your vacant properties is essential but navigating a labyrinth of procedures shouldn't keep you occupied, which is whyleveraging a brokernetwork is so important. Here are three ways you can connect with brokers to make the most of their services. Updating Your Inventory List If you've tried handing a PDF of your current available listings, you might want to reconsider your approach for better chances of success. Brokers must be aware of the properties you have available if you want them to consider yours. The issue with online CRE listings is that many of them are outdated. This may cause a broker to think they’ve found an ideal property for their client, only to discover it’s already leased out. This doesn’t make a good impression. In addition, static listings are not search-friendly. To cut to the chase, deploy a search-ready, updated portfolio. Simplifying things for brokers will keep them coming back and contribute towards building a positive association with them. Sharing an Inventory List Right to Their Inbox Simplifying property search isn’t all. What are you doing to make a broker’s life much easier? You don’t need to spend a ton on proptech to reach out to brokers on time. Set up a commercial real estate email list that directly emails your updated listings to the brokers, providing them with timely alerts on when a new property is on the market or reminding them that an existing listing is still available. Providing Easy Access to the Property Information Regular emails about your updated property portfolio is bound to keep brokers engaged and informed. Going a step further, you can create a mobile-friendly property information page for each of your CRE properties to ensure that brokers have all the information they need at their fingertips. This avoids any bottlenecks caused by having the wrong information or no information at all about the specifications of your properties. A Final Word of Advice One of the most effective things commercial property owners can do to guarantee their properties are continuously leased is to engage with brokers, keep them updated, and simplify ways for them to interact with your property.

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Real Estate Investment, Asset Management

Real Estate Property vs Asset Management: Understanding the Fine Line

Article | May 5, 2023

Improve real estate portfolio performance by analyzing various investment optimization strategies anddiscoveringthe subtle differences between asset management and property management. Contents 1 Introduction 2 Contrasts between Asset Management and Property Management 2.1 Key Differences based on Scope, Objectives, and Activities 2.2 Interconnectedness of Asset and Property Management 3 Asset Management Techniques 4 Property Management Techniques 5 Clarifying Misconceptions about Asset and Property Management 1. Introduction Asset management and property management are both integral components of real estate management. Precisely, property management pertains to managing the daily operations of a particular property, which includes overseeing the property and the tasks around it. On the other hand, asset management caters to investors seeking to purchase and manage numerous investment properties. It is essential to note that property management is generally intended for property owners who want to delegate the management function to competent professionals. An asset manager is responsible for managing various types of assets and overseeing portfolios. In contrast, a portfolio manager primarily handles the financial assets of their clients. The main objective of property managers is to manage and improve the value of a property while maximizing the return on investment for the owner. They analyze the real estate market and decide whether to continue investing in a property or divest it. 2. Asset Management Vs Property Management When it comes to asset management versus property management, people frequently experience confusion. Although both concepts are essential to the ownership and management of real estate, they are distinct. Recognizing the difference between the two overlapping cores of real estate management and comprehending how the two interact is vital. 2.1 Key Differences Based on Scope, Objectives and Activities Property management is operational, while asset management is strategic and focused on the big picture. Asset management involves a broader scope of responsibilities as it encompasses the management of multiple properties within a portfolio, including analyzing and evaluating the financial performance of each property, monitoring market trends and changes, and making informed decisions about buying, selling, or holding assets. On the other hand, property management in real estate has a more limited scope and primarily focuses on managing the regular operations of a single property, including overseeing tenant relations, collecting rent, scheduling maintenance and repairs, and assuring compliance with local laws and regulations. The primary objective of asset management is to develop and implement a strategy to maximize the return on investment, including identifying and acquiring properties that align with the owner's investment objectives, and developing long-term strategies to improve the performance of the portfolio as a whole. On the primary objective of property management in real estate is to ensure that a particular property is profitable and maintained to a high standard, create and implement effective marketing strategies to reach potential clients, and also handle the screening and selection process to ensure that clients are reliable and trustworthy. Asset managers are responsible for creating and implementing long-term strategies to improve portfolio performance and hiring the personnel on an investor's team, including real estate agents, property managers, and leasing agents. Property managers are responsible for maintaining property value, ensuring it remains profitable for the owner, and hiring employees like cleaners, security guards, and contractors. 2.2 Interconnectedness of Asset and Property Management Asset management and property management are closely interconnected, despite their different scopes and objectives. Effective communication and collaboration between asset and property managers are essential for a successful real estate investment portfolio. Asset managers rely on property managers to ensure individual properties are well-maintained and profitable. Property managers depend on asset managers to monitor investment strategy, market analysis, and portfolio optimization. The two roles combined can identify opportunities to increase the value of properties and achieve greater returns for investors. 3. Asset Management Techniques Asset management is a highly technical position involving finances and investments to a significant degree. In the real estate industry, clients place a great deal of trust in asset managers to purchase and sell valuable properties. Cash Flow Analysis: The real estate asset management technique, cash flow analysis is used to analyze cash transactions generated by a property to determine its profitability and potential returns. It helps asset managers assess its profitability and potential returns, guiding decision-making in investment, asset maintenance, and renovation. Debt and Equity Financing: The technique of financing debt and equity is about understanding and utilizing various financing options to fund real estate investments. Asset managers can choose the best financing strategy for their real estate investments using this technique. Property Valuation: The process of determining the value of a property based on factors like its location, condition, and potential rental income is simplified by property valuation techniques. Determining the property's current market value, setting a sale price or rental rate, and negotiating with potential buyers or tenants benefit an asset manager to identify the property value effectively. Financial Modeling: Developing the future cash flow projection and understanding the investment returns for future decision-making is vital. Using economic modeling for asset management, real estate asset managers can identify potential risks and opportunities and make informed decisions about investment strategies. 4. Property Management Techniques Property management is a service-oriented profession that involves hands-on knowledge of a property's operational aspects. Most of a property manager's duties revolve around techniques that ensure smooth property management and meeting the residents' needs and expectations. Budgeting and Financial Planning: Monitoring expenses related to real estate property management, such as utilities, insurance & maintenance, and finding ways to reduce costs without sacrificing quality using the budgeting and financial planning technique will help property managers make informed decisions about property investments and identify areas for cost-saving measures. Lease Negotiations: Maintaining accurate and up-to-date lease agreements, renewals, and terminations, enforcing lease terms, and resolving any disputes that may arise using the lease negotiation skills result in favorable lease terms for property owners, ultimately leading to better profitability. Tenant Screening and Retention: Conducting comprehensive background checks on prospective tenants to ensure trustworthiness, accountability, and implementing retention techniques to hold current tenants can help reduce vacancies and turnover, and ultimately increase profits. Effective Marketing and Advertising: To attract new tenants and help maintain high occupancy rates implementing effective real estate marketing and advertising techniques, including listing, signage, and social media, helps property managers with improved visibility and attractiveness of a property, leading to high rental income. 5. Clarifying Misconceptions about Asset and Property Management Real estate asset management and property management are two distinct roles that are often misunderstood. One common misunderstanding is that asset management is solely for prominent investors, whereas property management is exclusively for small-scale landlords. However, it is crucial to recognize that both roles are intertwined and can benefit from techniques utilized in both areas. Real estate decision-makers should comprehensively understand asset and property management techniques to make well-informed decisions that can optimize profitability and value. Real estate professionals can create an efficient and effective management approach for their properties by dispelling misconceptions and capitalizing on the strengths of both roles.

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Spotlight

Boston Properties

Boston Properties, Inc. (the "Company"​), a self-administered and self-managed real estate investment trust (REIT), is one of the largest owners, managers, and developers of first-class office properties in the United States, with a significant presence in five markets: Boston, Los Angeles, New York, San Francisco, and Washington, DC.

Related News

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.

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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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