REAL ESTATE TECHNOLOGY
WegoWise and Measurabl | September 02, 2022
Measurabl, the world’s most widely adopted ESG technology platform for real estate, today announced its acquisition of WegoWise, a software platform for utility data automation and residential real estate from AppFolio, Inc., a leading provider of cloud business management solutions for the real estate industry. As a result of the acquisition, Measurabl will consolidate a mature, scaled utility automation backbone and residential real estate software application into its overall ESG platform, eliminating barriers to accessing utility data while authentically serving the rapidly emerging ESG needs of single- and multi-family real estate. The acquisition is Measurabl’s second this year, following the April acquisition of Hatch Data.
Until now, most utility data acquisition required a mixture of third-party technologies and service providers. WegoWise radically alters this dynamic with its proprietary utility automation infrastructure, which unlocks unique business and product innovation opportunities for Measurabl’s customers and partners while also further extending Measurabl’s leading position in ESG services to all asset classes from commercial to residential.
“Our product vision is to deliver ESG solutions for every real estate stakeholder from owners to lenders, occupiers to residents from meter to market, This is another major step in delivering on our expansive vision of removing barriers to sustainability data and making it accessible across the entire real estate industry.”
-Matt Ellis, CEO and Founder of Measurabl
Over the last several years, WegoWise has been vital in not only determining the multiplication of energy and water savings we have been able to achieve over our portfolio of communities, but in easily communicating that savings to our clients and residents, Now that WegoWise is part of Measurabl, we’re excited to have access to a more expansive, market-leading ESG toolkit that can help us bolster our ESG program even further,said Elizabeth Merzigian, Sustainability Manager at Peabody Properties, Inc.
WegoWise enjoys particular success in multifamily real estate and affordable housing, for which it developed nuanced product capabilities to automate utility data collection, benchmark assets and residential units, and support U.S. regulatory reporting. WegoWise’s customer base of over 650 customers is entirely additive to Measurabl’s already globally leading solution adopted across over 13 billion square feet of commercial real estate in 90 countries.
WegoWise is utility data management and analytics software for real estate. The company was founded in 2010 in Boston. It quickly found success in the multifamily segment, for which it developed nuanced product capabilities to automate utility data collection, perform benchmarking and support local U.S. regulatory compliance reporting including the Freddie Mac and Fannie Mae green loan programs.
Measurabl is the world’s most widely adopted ESG (environmental, social, governance) technology solution for real estate. Customers use Measurabl to measure, manage, report and act on ESG data on more than 13 billion square feet of commercial real estate across 90 countries valued in excess of $2 trillion. Measurabl empowers customers to optimize ESG performance, assess exposure to physical climate risk, drive decarbonization and secure sustainable finance opportunities.
MARKET OUTLOOK, REAL ESTATE TECHNOLOGY
Measurabl | October 17, 2022
Measurabl, the world’s most widely adopted ESG solution for real estate, was named a Grand Prize Winner in the Ninth Annual Real Estate Tech Awards (RETAs) for the Mid Market Growth category.
The award is presented by CREtech, the world’s leading community of professionals devoted to technological innovation in the real estate sector, in partnership with Colliers, a leading diversified professional services and investment management company.
Measurabl was recognized as a cutting-edge company that has played an integral role in advancing technology in the real estate industry. Among this year’s judges were leaders from Boston Properties, PGIM Real Estate, Jamestown, and Colliers.
“We are delighted by the recognition, We have worked closely with our customers and the real estate industry at large to deliver the essential digital tools and infrastructure needed to succeed in the ESG Era. I take this award as encouragement to keep up the good work, and continue supporting the industry in its transformation to a more profitable and sustainable business model.”
-Matt Ellis, Measurabl’s Founder and CEO
This is the second time Measurabl has been named a RETA grand prize winner. The award comes on the heels of Measurabl’s ESG Advisory Services and Asset Optimization launches. These new offerings and others aim to help real estate firms go beyond the data as they report on ESG performance and climate risk, evolve existing ESG strategies, set targets, and identify ways to continuously improve.
Measurabl is the world’s most widely adopted ESG (environmental, social, governance) technology solution for real estate. Customers use Measurabl to measure, manage, report and act on ESG data on more than 13 billion square feet of commercial real estate across more than 90 countries valued in excess of $2 trillion. Measurabl empowers customers to optimize ESG performance, assess exposure to physical climate risk, drive decarbonization and secure sustainable finance opportunities.
CREtech is Reimagining Real Estate. We are the largest international community of professionals devoted to technological innovation in the real estate sector. Our mission is to help the industry embrace, adopt, and future proof its businesses. Our streaming, live/virtual events, and consulting platform inspires the next generation of ideas, processes, and people to champion the world's largest asset class.
MARKET OUTLOOK,REAL ESTATE INVESTMENT
Northwood Investors | November 23, 2022
Global real estate investment firm Northwood Investors LLC announced today its acquisition of Fifth + Broadway, a newly developed 6.2-acre mixed-use, open-air center. The property was developed and operated by Brookfield Properties, which completed construction in 2021. Northwood has purchased the property in its entirety, including its retail district, 501 Commerce office tower and The Place residences, from a subsidiary of Brookfield.
As Northwood expands its footprint in Nashville with this prized entertainment complex, it looks forward to furthering Brookfield's vision for the center. Northwood is well-positioned to take the reins in managing the project with its vertically integrated platforms and experience with retail and mixed-use assets. Most of Fifth + Broadway's management team have transitioned to Northwood and will continue in their existing roles, bringing their strong local experience and knowledge to the property.
Northwood is already deeply involved in the Nashville market; this latest acquisition marks the fifth asset the firm has invested in within the city. Other properties include The Conrad hotel, Capital View apartments, the McEwen Northside mixed-use center and Franklin Park office towers.
"We feel that Fifth + Broadway's energy and integration in the heart of downtown is unparalleled, As a mixed-use asset, all its elements work together cohesively, and Brookfield has done a phenomenal job with its development. Our Northwood management team is excited to carry on the torch, engage with the city, and partner with tenants like The National Museum of African American Music, AllianceBernstein, The Twelve Thirty Club, Assembly Food Hall and more."
-Managing Director of Northwood Investors Erin Cannata
Centrally located within Nashville's vibrant urban core, Fifth + Broadway is one of the largest single-phase mixed-use developments in the history of the city and the state of Tennessee. The revolutionary downtown project, which replaced the 6.2-acre Nashville Convention Center site, delivers 250,000 square feet of strategically selected retail and entertainment, the 56,000-square-foot National Museum for African American Music, 367,000 square feet of Class-A office space at 501 Commerce, 381 residential units at The Place at Fifth + Broadway and more than 2,000 parking spaces. The project, which sees nearly five million annual visitors, was built for a post-COVID-19 world with outdoor space, accessibility, safety and parking in mind.
We feel Nashville is a high-growth market, and one that we have been watching since 2011, It's an 'it' city for business and entertainment and Fifth + Broadway epitomizes Nashville – a world-class, generational asset that draws locals and tourists alike. We believe the attention to detail, aesthetics and connectivity are unmatched, making it a transformative catalyst for the fabric of lower Broadway,said President of Northwood Retail Ward Kampf.
Northwood is committed to the city of Nashville, which it values for its diversified economy, one-of-a-kind cultural authenticity, attractive cost of living, and premier talent base, which has transformed the city into a 24/7 destination. The firm looks forward to collaborating with the city, its retail and office tenants, and the National Museum for African American Music as it evolves this asset, which is seamlessly integrated into the streetscape and cultural heart of Downtown Nashville.
Fifth + Broadway is a thriving mixed-use complex, and we are very proud of its development and success as a major destination in and economic driver for Nashville, While Brookfield has successfully recapitalized the asset in line with its overall investment strategy, we remain very interested in Nashville and excited about its future,said Burgin Dossett, vice president of development for Brookfield Properties.
About Fifth + Broadway
Owned and operated by Northwood Investors, Fifth + Broadway is one of the largest single-phase mixed-use developments in the history of Nashville and the state of Tennessee. The transformative downtown project, which replaced the 6.2-acre Nashville Convention Center site, delivers 250,000 square feet of strategically important retail and entertainment, the 56,000-square-foot National Museum for African American Music, 367,000 square feet of Class-A office space at 501 Commerce (headquarters of AllianceBernstein), 381 residential units at The Place at Fifth + Broadway, and more than 2,000 parking spaces.
About Northwood Investors
Northwood Investors LLC is a privately held real estate private equity firm that owns and operates real estate across the U.S. and Europe. The firm currently manages a portfolio aggregating approximately $20 billion in total gross asset value. Northwood's flagship fund seeks to opportunistically acquire well-located real estate with a plan to create value through hands-on asset management. Northwood is vertically integrated with in-house operating teams across the office, multifamily, retail, hospitality, and urban logistics sectors.
About Northwood Retail
Northwood Retail LLC was established by Northwood Investors, a privately held, global real estate investment and management firm. The platform currently leases, manages, and markets a portfolio of community and mixed-use properties across the United States with a concentration in Texas, Colorado, North Carolina, Tennessee, and California. Built upon strong, fundamental real estate principles, Northwood Retail is focused on creating value at each project through a disciplined approach to leasing, development, property management, and marketing.
About Pacific Life
For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life counts more than half of the 100 largest U.S. companies as its clients and has been named one of the 2022 World's Most Ethical Companies® by the Ethisphere Institute.