Silicon Valley's Office, R&D Markets Off to Slow Start in 2019

Cushman & Wakefield | April 23, 2019

According to Cushman & Wakefield's latest Silicon Valley's Office and R&D sector report, Silicon Valley's tech space is off to a sluggish start in 2019, after having combined for a robust 2.85 million square feet (msf) of occupancy growth in 2018 -- largely stemming from the office sector. While the office market did continue its growth trend reporting another 269,000 so of positive net absorption in the first quarter, the R&D sector finished with a negative 265,000 sf, leading to a virtual wash between the two sectors. Notably, both sectors maintain very healthy single-digit vacancies coupled with rent growth, while demand remains strong.

Spotlight

Responding to feedback and rapidly changing market dynamics, the RICS Standards and Regulation Board commissioned the Valuation Review in the public interest to future-proof practices in the valuation of real estate assets for investment purposes. Hear the Chair of SRB Dame Janet Paraskeva reflect on the Review and the importance of creating practices that remain robust, trusted and responsive to market changes.

Spotlight

Responding to feedback and rapidly changing market dynamics, the RICS Standards and Regulation Board commissioned the Valuation Review in the public interest to future-proof practices in the valuation of real estate assets for investment purposes. Hear the Chair of SRB Dame Janet Paraskeva reflect on the Review and the importance of creating practices that remain robust, trusted and responsive to market changes.

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ERE Healthcare Real Estate Advisors Explores the Lesser-Known Tax Advantages When Participating in a Sale and Leaseback Transaction

prnewswire | October 14, 2020

ERE Healthcare Real Estate Advisors (ERE) announced the release today of a whitepaper that explores the lesser-known tax advantages when participating in a sale and leaseback transaction. The whitepaper was developed to summarize the advantages ERE has gleaned from working closely with their clients, with the goal of giving physician real estate owners a clear understanding of their options and how to leverage them. Jamion Nash, Author of the whitepaper and a Financial Analyst with ERE, explains, "We've attempted to highlight three tax advantages/strategies that may positively impact physician real estate owners.

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REAL ESTATE TECHNOLOGY

Black Knight Announces Strategic Alliance With Percy to Provide an Advanced Client Engagement Solution

Black Knight | June 01, 2022

Black Knight, Inc., an award-winning software, data and analytics company that drives innovation across the real estate and mortgage continuum, announced a strategic alliance with Nashville-based Percy – formerly known as Buyside – a data analytics and marketing company that collects and analyzes real estate consumer behavior using machine learning and artificial intelligence. The alliance will allow Black Knight to offer clients a new, advanced consumer engagement solution fueled by billions of behavioral datapoints that helps real estate professionals and lenders cultivate deeper customer relationships. Using proprietary machine learning to monitor homeowner behavior "signals" through custom landing pages with engaging content (e.g., property valuations, local buyer demand and market activity, monthly email reports, listing activity on client websites, etc.), Percy helps identify the precise timing that a homeowner is likely to transact. Percy's predecessor was launched to help brokerages match buyers to listings, but in the time since, it's evolved into an ecosystem that spans mortgages as well as real estate, across both the buy and sell sides of the real estate equation. Today, Percy analyzes billions of pre-buying as well as pre-selling signals in real estate consumers' behavior to empower loan officers, real estate agents and brokers with actionable intelligence." Charles Williams, Percy founder and chief executive officer The application creates an engaging experience for home buyers and potential sellers through a personalized digest of insights related to their homes. Providing multiple valuation estimates to increase accuracy, timely and current home equity statements, refinance opportunities and more helps build trust and cultivate deeper, richer customer relationships. "Today's housing market is categorized by record-low inventory and record-high home prices, which – together with sharply rising rates – continue to put downward pressure on purchase lending," said Black Knight Data & Analytics President Ben Graboske. "As everyone in our industry is aware, generating inventory is key to lessening affordability pressures as well as keeping lender and real estate agent pipelines full. This strategic alliance with Percy will allow our clients across real estate and mortgage to use an AI-powered, big-data-fueled approach to intelligently engage with those customers, to build business while also generating inventory." About Black Knight Black Knight, Inc. is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively. Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serve their customers. About Percy Percy.ai is a data analytics and marketing company delivering more revenue opportunities to real estate brokers and mortgage companies by collecting and analyzing real estate consumer behavior. We use proprietary machine learning and Artificial Intelligence to better understand consumer intent and help companies target the right person at the right time.

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REAL ESTATE TECHNOLOGY

Greensoil Portfolio Company Goby Proves Attractive Acquisition Target for Conservice

Greensoil PropTech Ventures | September 03, 2021

Greensoil PropTech Ventures of Toronto on Thursday celebrated the sale of one of its portfolio companies, Goby, a Chicago-based data and invoice automation platform that helps buildings track, lower and report utility usage, to Conservice. Greensoil's investment in Goby dates to 2015 when they invested $4 million as lead of the first funding round through their Greensoil Building Innovation Fund (GBIF) and subsequently invested an additional $1 million in January 2017 and an additional $1 million in January of 2021, for a total of $6 million. Founded in 2008, Goby is a leading environmental, social and governance (ESG) data management and reporting platform that has grown to serve hundreds of clients worldwide. Goby's users save time, mitigate risks and realize increased returns on their real estate investments, with the company's powerful software, which provides invoice automation, digitized workflows and analytics regarding a building's utility usage. Data collected by Goby's software allows building owners and operators to meet ESG-related goals and legal reporting requirements for energy usage. Utah-based Conservice, is North America's largest utility management service. The firm pays more than $12 billion in utility bills, while serving over 5 million locations, including multi- and single-family housing and residential communities, commercial properties and student housing. Conservice has offered simplified utility management solutions since 2001. "Greensoil PropTech Ventures congratulates Goby and Conservice," said Jamie James, Managing Partner with GSPV and a Goby board member. "Goby has excelled, for over a decade, with a powerful platform that captures and distills multiple data sources into simple, contextualized dashboards, tasks and reports. Its no wonder Goby proved an attractive acquisition given its ability to help property owners and operators cost-effectively monitor, reduce and report their buildings' energy usage." The GSPV team has been working closely with a highly collaborative Goby management team and has two directors on Goby's board. While ESG reporting for commercial real estate was still in its nascent stages in 2015, it has become much more prominent now, leading to the space attracting highly capitalized and established incumbents to the market. This led to Goby receiving a strong acquisition offer ahead of expectations. Conservice's acquisition of Goby comes on the heels of another Greensoil success – the sale earlier this week of 40% of its stake in Procore, which held a May initial public offering valuing the firm at $8.5 billion. Additionally, in March, Greensoil furthered its strategy of impact investing to digitize and decarbonize the built environment, with the recent launch of a $100 million (USD) fund called Greensoil PropTech Ventures Fund II. GSPV II seeks to invest in early to mid-stage companies that employ transformative property technologies in the U.S. and Canada, Europe and Israel. GBIF is a pioneering $59 million (USD) PropTech-only venture capital fund, launched in 2015, with anchor funding from the London-based Grosvenor Group. Among other PropTech firms, it has successfully invested in companies that make smart home battery systems (ElectrIQ Power), a real estate deal management platform (Dealpath), wireless lighting controls (Amatis), carbon sequestering technology for concrete (CarbonCure) and construction management software (Procore). ABOUT GREENSOIL PROPTECH VENTURES Greensoil PropTech Ventures' mission is to digitize and decarbonize the built environment, the biggest asset class on the planet, which is responsible for up to 40% of global energy-related CO2 emissions. GSPV invests in early to mid-stage venture capital opportunities in North America, Europe and Israel that make real estate more productive, efficient and sustainable. Backed by real estate and institutional Limited Partners, GSPV has a successful track record of backing, scaling and exiting high-impact PropTech companies.

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