REAL ESTATE TECHNOLOGY, MORTGAGE AND LENDING
PRnewswire | May 03, 2023
SeeCares, the world's premier artificial intelligence (AI) technology platform for streamlining commercial real estate financing workflows, announced today its strategic partnership with leading U.S. commercial real estate services firm Northmarq.
Northmarq is incorporating SeeCares technology to significantly reduce the processing time to prepare and deliver loan quotes. Lowering that time from days or weeks to a few minutes enables Northmarq to provide an even greater speed of service for their clients.
"With 7,000+ loans serviced, and $37B in deal volume annually, Northmarq is truly an industry leader and we're thrilled to be partnering together," said Moshe Yeli, CEO of SeeCares. "Their commitment to adopting AI in streamlining processes will ultimately put them at the industry forefront, and we're excited to help them reach more deals, at the best terms, more quickly."
The SeeCares platform will leverage data analytics compiled from hundreds of data sources, making them accessible and usable via AI technology. As a result, Northmarq's unique models will be filled with relevant market data to produce loan quotes within minutes.
"The SeeCares technology is revolutionizing this process at Northmarq, which will enable us to harness data and automation to streamline this strategic area of our business," said Jay Donaldson, president—Fannie Mae and FHA at Northmarq. "We look forward to continue collaborating with the SeeCares team and believe that harnessing data and automation to get clients smarter quotes faster will allow Northmarq to beat the experience and terms of any other commercial real estate lender in the market."
SeeCares empowers CRE lenders, seller services, mortgage brokers, and sponsors to scale their business 10x faster using end-to-end underwriting automation and data aggregation. With SeeCares CRE stakeholders are able to optimize their analysis process and offer best-in-class service to their clients with instant loan quotes and credit memos. For more information, visit https://seecares.com.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes. For more information, visit www.Northmarq.com.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
PRnewswire | April 24, 2023
Dottid, the leading proptech company revolutionizing the commercial real estate (CRE) industry by creating efficiency and revenue growth for asset managers and brokers, formally announces its release of Asset OS. Dottid's proprietary technology, which launched in April 2021, is transforming CRE by integrating workflow and data into one place and consolidating the robust capabilities of multiple platforms, tools, and workflows into one intuitive interface, saving CRE firms valuable time and money.
The CRE industry contributes $2.3 trillion to the U.S. GDP and is responsible for nearly 15.1 million jobs. Due to multiple modern variables including the increasing popularity of remote work, the industry has been impacted by high vacancy rates across the country, with 54.2% of the 1.07 billion square feet of office space currently open for lease, according to CoStar Group, Inc. To stay competitive, real estate companies are adopting more cost-effective strategies and optimizing their processes using technology.
"In order to effectively adapt to the shifts in the massive CRE industry and this period of uncertainty, asset managers and CRE leaders must innovate and leverage technology to unlock new potential and cost-saving opportunities," said Kyle Waldrep, founder and CEO of Dottid. "Dottid is at the forefront of the CRE technology revolution. With Asset OS, asset managers are provided for the very first time with oversight, data transparency, and detailed insights that help them maximize their resources and improve decision-making to grow revenues in any market."
"As a young company competing in the fast-paced Dallas market, we turned to Dottid to help build a more efficient process for tracking our workflow," said Joe Zylka, Director of Operations at Dogwood Commercial. "Dottid allowed us to organize everything in one place, with overall visibility and accountability, and as a result, we were able to perform more efficiently. In only 18 months, Dottid has enabled us to grow our portfolio by 2.5x while still continuing our high level of service without the need for additional personnel."
Key Asset OS Features Include
API Connector: Allows third-party tools like RealtyAds to integrate with Dottid so asset managers can access all their data in one place
Deals: Empowers all members of the team to know each process while remaining adept to deal changes; allows users to set approvals, assign tasks, communicate deadlines, and track relevant financial negotiations with all files and collateral at their fingertips
Capital Projects: Manage construction projects from start to finish entirely in Dottid, including approving bids, setting key milestone dates, tracking project progress, tenant improvement, and collaborating with teams
Dynamic Projections: Gives users the ability to project property performance in a graph that responds to selections of deals in their deal pipeline and upcoming renewals
Property Debt: Upload and keep track of important debt details and critical dates on loans; store essential debt data, like loan balances, interest rate, and maturity dates, so that an entire asset management team is on the same page
Additional features include real-time stacking plan, encumbrance schedules, property activity, inquiries, leasing performance insights, asset visualizations, and more.
In addition to being the first truly all-in-one CRE workflow and asset management platform connecting all critical asset management functions, Dottid is dedicated to protecting customer data. The company never shares, scrubs, or sells data under any circumstances, including a marketplace environment. Dottid's Asset OS customers can be assured that their data is secure, and is only theirs.
Dottid is a revolutionary, all-in-one workflow platform that is changing the landscape of the commercial real estate industry. From brokers to asset managers, Dottid makes it easier than ever to manage complex transactions and investments. Founded in 2018 and headquartered in Dallas, Texas, the company brings brokerage, asset management, and debt oversight into one easy-to-use modern workflow tool. As a result of their proprietary technology, they are bringing new levels of efficiency and revenue generation to the commercial real estate industry and giving their customers a competitive edge in an ever-changing world. Learn more at dottid.com.
BROKERAGE, REAL ESTATE INVESTMENT
Businesswire | April 20, 2023
Lessen, the premier tech-enabled, end-to-end solution for outsourced real estate property services, announced today a strategic acquisition of Blue Skyre IBE, a global facilities management solutions provider. This acquisition allows Lessen to extend its offerings in facilities management and Environmental, Social and Governance (ESG) solutions, as it continues to pursue its vision of bringing unparalleled operational excellence and efficiency, enhanced services and advanced technology to commercial and residential real estate—all under the direction of a single, unified platform.
Blue Skyre IBE Chief Executive Officer Maureen Ehrenberg and Chief Strategy & Product Officer Colette Temmink will join the Lessen leadership team. Ehrenberg is now president of Lessen’s commercial division, which was formerly the commercial division of SMS Assist, acquired by Lessen in January 2023.
Formerly CEO of Blue Skyre IBE, as well as a co-founder, Ehrenberg is an internationally recognized real estate industry business leader, with more than 35 years of experience in business process transformation, strategic positioning and operations of large, complex portfolios. Before co-founding BSI, she was the Global Head of Strategic Real Estate Operations for WeWork. Her previous experience also includes being International Director and Global President of JLL Integrated Facilities Management Services; Global Head of Integrated Facility Management at CBRE, and Executive Vice President of Grubb & Ellis Company and President and CEO of Grubb and Ellis Management Services, Inc. Ehrenberg was named to the Woman of Influence Hall of Fame by Real Estate Forum/Globe St.
Temmink is Chief Operating Officer of the commercial division.
"This acquisition advances our goal of providing a game-changing, tech-enabled service model for the entire real estate ecosystem,” said Jay McKee, CEO of Lessen. “Lessen and Blue Skyre share a vision of leveraging technology to help shape the future of real estate for a better world, solving pain points, and replacing complexity with transparency and operational efficiency backed by data-driven insights. With this most recent acquisition, Lessen is uniquely positioned to transform commercial and residential real estate to the benefit of all the stakeholders.”
Added McKee, “I’m thrilled to welcome Maureen and Colette to the Lessen family. Their experience, industry track record and expertise will be invaluable as we continue to broaden our reach into commercial facilities management.”
As president of Lessen's SMS Assist Commercial Division, Ehrenberg will drive business strategy and manage overall resources, partnerships, and operations to provide the most advanced and innovative integrated facilities management operating platform for commercial properties. Ehrenberg is focused on growing the enterprise client space, creating additional value, operational advances and savings for existing customers and bringing frictionless, fluid and ESG-focused operating solutions to the market, challenging the status quo.
“Leading Lessen’s commercial business division is an incredible opportunity to drive breakthrough innovation in facilities management,” said Ehrenberg. “The market is calling for a new business model for facilities management solutions; clients seek comprehensive data integration, real-time performance management, portfolio resiliency, service excellence and operationalizing ESG—all of which Lessen delivers through its advanced, integrated digital operating platform.”
As Chief Operating Officer, Commercial Division, Temmink is responsible for leading service delivery and operational excellence in the day-to-day support of clients.
Most recently Chief Strategy & Product Officer at Blue Skyre IBE, Temmink has also served as Senior Vice President and Chief Administration Officer at Apollo Education Group and held global real estate executive roles at Cushman & Wakefield, Oracle and Boeing. She is a renowned speaker and thought leader on corporate real estate, facilities management, ESG and PropTech. Temmink is the co-chair of the International Facilities Management (IFMA) ITC, a top-rated faculty for the MCR Capstone CoreNet course and serves as an editorial board member for the Corporate Real Estate Journal.
“Facilities management has been going through a transformation and Lessen has been at the forefront of this change,” said Temmink. “Delivering value, quality, predictive and efficient services to clients while providing real-time business insights is critical. Lessen’s dynamic approach to strategic integrated facilities management is exactly what the industry requires today.”
Lessen, together with SMS Assist, is the world class, tech-enabled, end-to-end property service provider transforming how commercial and residential real estate services are delivered and managed at scale. Our technology platform provides data-driven insights that unlock key growth opportunities for the entire real estate ecosystem—including investors, owners, managers, and service providers. Lessen enables local field managers to deploy and oversee a network of vetted, qualified vendors acting as one unit across distributed property portfolios—serving a national footprint of more than 1 million properties and completing more than 2.5 million work orders annually across an expanding range of services. Lessen, Inc. is a venture-backed, privately held company with offices in Scottsdale and Chicago. To learn more, visit Lessen.com and smsassist.com.