PropTech Retrospect: July sees build-to-rent development and office space tech

Goodbye July, and Hello August!! As it concerns the property technology market, the past month has been filled with activity and a growing interest in multiple segments.

Particularly notable trends include increasing attention in single-family rental (SFR) build-to-rent (BTR) developments, and ongoing commercial focus on flex space offerings.

These trends are highlighted by RangeWater‘s recently announced plans to build 155 SFR units, and Mosaic‘s hiring of a Texas region BTR lead. WeWork also officially launched its WeWork Workplace product, giving businesses access to flexible workspaces across its properties and partner properties, and Yardi expanding its coworking service offerings.

That’s just the beginning of an eventful month now wrapped up. Below I’ve listed the biggest stories, news and activity around the proptech industry in July 2022.

Enjoy this month’s PropTech Retrospect.

Property Management/Multifamily

  • Sagemount backs BuildingLink to fuel scaling efforts (July 13)
  • Ryan continues property tax acquisition spree: “Previously, PTG was the national property tax practice of KPMG. Today their consultancy spans across real and personal property tax appeals, pre-acquisition planning due diligence, complex property consulting, and business personal property tax compliance. The PTG website says it provides services to clients on their commercial, industrial, multi-residential and special purpose properties.”(July 22)
  • Madison Realty Capital originates $76M Miami condominium loan (July 8)
  • JLL acquires Envio to bolster building operation data (July 26)
  • Leasecake hires former JLL Technologies exec as COO: “The company says the appointment highlights its continued strategic expansion and growth within the location management proptech segment, and follows the company’s recent $12 million Series A led by PeakSpan Capital in April 2022.” (July 26)
  • Latchel raises $16.7M for maintenance workflow platform (July 27).
  • VoPay and Plexflow partner to simplify payments for Canadians (July 27, IBS Intelligence)
  • Home inspection startup PunchListUSA raises $39 million in Series A: “Founded in 2018 as a contractor services company serving real estate agents in Charleston, South Carolina, PunchListUSA is now focused on intuitive online ordering, tracking and pricing transparency for homeowners, brokers and institutional investors. . (July 27)
  • 4.3 million new US apartments needed by 2035, new study shows (July 29)

Smart Tech

SFR/Investment Property/Rentals

  • “Climate-risky” vacation homes saw surge in past two years, Redfin report finds: “While this does echo an overall increase in second home purchases during the pandemic, with a 37% increase in the same time frame, homes that fell under elevated. climate-related risks saw even larger purchase rates compared to pre-pandemic levels. These include a 45% increase in secondary homes at high flood risk, a 40% increase for those at high storm risk, and a 39% for high heat risk.” (July 5)
  • Here raises $5M seed, plans to expand vacation rental marketplace (July 14).
  • ApartmentLove acquires OwnerDirect.com (July 18)
  • Proptech Parcl offers real estate investing without liquidity (July 19)
  • Pacaso data shows 25% increase in luxury second home transactions: “The company says compared to pre-pandemic years, sales in of luxury second homes increased by 235% from the first quarter of 2020, according to a press release. It attributed this increase in home sales, defined as homes sold for $1 million or more that are designated for season or recreational use, to demand for summer-related activities and destinations.”(July 20)
  • Inhabit IQ appoints new supervisors for its vacation division (July 28)
  • PriceLabs secures funding to scale its vacation rental revenue platform (July 28)

Property Intelligence/Appraisal

Insurance

Real Estate/Agents/Brokerages

Lending/Mortgage

Home equity

Commercial (CRE)

  • Yardi unveils expanded coworking, flex space services: “The company says this includes the launch of its new CoWorkingCafe.com, which is designed to enable real-time bookings for conference rooms and private offices, and joins Yardi’s five existing commercial listing platforms (CommercialCafe). , CommercialSearch, PropertyShark, 42Floors, and Point2).” (July 12)
  • Ready Capital reveals CRE origination growth (July 15)
  • OpenTech integrates Engrain mapping data into self-storage operating platform (July 19)
  • WeWork launches flex space management solution: “WeWork says this is the only product in the market to combine all space type (privately leased/owned, WeWork and shared/affiliate) within a single experience, and noted that companies that need overflow space will also have the option to enable access to global WeWork and WeWork affiliated locations.”(July 20)
  • Upflex hires new CRO (July 22)
  • Commercial Real Estate Slaps Back at SEC Climate Rule Proposal (July 1, Globe St.)
  • Crexi announces two C-suite appointments (July 25)
  • Built acquires commercial lending platform Nativ (July 29)

ESG/Sustainability

Construction/Build-to-Rent (BTR)

VC Funds/Accelerators

FinLedger Q&As

Tech Nest: The PropTech Podcast with Nate Smoyer

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