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8 Real Estate Start-ups to Watch

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Entrepreneurs have long been using technology to remove barriers and make time-intensive processes more efficient across many industries, yet real estate innovation has seemed to lag behind. The tried-and-true process of purchasing property has had a rigid flow. Still, there are a handful of start-ups nibbling around the edges, hoping to get a piece of the massive real estate market.

The latest real estate tech start-ups infuse the industry with much needed innovation, allowing for more creative solutions when it comes to data sharing, project management and even funding. From property listing and lease management to crowdfunding and even virtual viewing, here are some of the start-ups having the biggest impact on the real estate market today.

  1. AgentDesks

This innovative app combines a powerful CRM for agents with a networking space, making it easier than ever to interact with other agents and to manage contacts and relationships. AgentDesks serves as a mobile workstation for commercial and residential real estate agents, simplifying how they manage information, projects and prospects.

  1. LiquidSpace

Targeting new businesses and start-ups in need of office space, LiquidSpace makes it possible to set up shop in just a few hours, instead of a few weeks. This start-up matches those with space to let with those looking for new office digs – and helps out with all of the lease and payment details, too.

  1. VTS

This New York based start-up has already raised $84 million, making it the most well-funded company in commercial real estate technology, and continues to gain ground. The technology is an asset management and leasing platform that provides real-time analytics to landlords and brokerage firms. With VTS, brokers and landlords can manage deal activity, identify trends and quantify portfolio performance from their desktop or mobile device. To date, more than 3 billion square feet of real estate are managed on VTS.

  1. Hightower

Founded in 2013, this innovative leasing and asset management platform takes advantage of the cloud to bring together all parties in the commercial leasing process. Hightower enables multiple owners and brokers to view data in one place to help them increase revenue, improve productivity and reduce risk in their portfolio.

  1. CompStak

This crowdsourcing model focuses on creating an ever-growing database of difficult to find, difficult to compile real estate information. By incentivizing data submissions, CompStak has built a comprehensive and far-reaching database of commercial real estate comps. The resulting database also has a variety of resale options – CompStak has successfully targeted banks, hedge funds, REITs and other asset managers and agencies.

  1. Rentlytics

This San Francisco start-up focuses on the multi-family real estate market and allows investors to assess investment data and business intelligence in one easy-to-use dashboard. The Rentlytics interface includes both analytics and a variety of tools to maximize revenues and get a true idea of the potential performance for their assets.

  1. RealtyShares

Bridging the gap between real estate borrowers and investors, this crowdfunding company allows fix-and-flippers, developers and operators to seek funding for projects around the country through the RealtyShares platform. The company’s network of more than 25,000 investors can get involved in these deals for as little as $5,000.

  1. DocuSign

It’s not particularly new or fancy, but the ability to sign legal documents in digital format has had a huge impact on the commercial and residential real estate world. Founded in 2003, Docusign makes it easy to close deals online whether the other party is in the room next door or thousands of miles away.

These start-ups are streamlining the way real estate professionals, investors and organizations share data, manage projects and even fund investments. While all might not survive, the potential to contribute to a thriving industry has been enough to fuel some exciting, innovative new products.

Source: Forbes

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Commercial

Blackstone In Process To Buy L&T’s Commercial Property Portfolio For Rs. 2300 Crores

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Blackstone In Process To Buy L&T’s Commercial Property

Being one of the world’s leading investment firms, Blackstone has emerged as the most aggressive institutional investor in India’s real estate sector. Now this US-based private equity player is in advanced talks with L&T Realty, to acquire two commercial properties covering a total of 1.7 million sq ft., in a deal valued at Rs. 2,300 crores. Blackstone leads the market with its highest

Blackstone has been picking up properties across major cities in deals that are turning out to be benchmarks in the sector. Owning the India’s biggest portfolio of income producing office assets, this company holds a total of over 31 million sq ft. across key property markets of Noida, Mumbai, Pune and Bengaluru.

This portfolio of the real estate arm of engineering major Larsen & Toubro includes a 9 lakh sq ft. office block at the company’s commercial project at Seawoods, in Navi Mumbai. And there is another 8 lakh sq ft. of fully-leased commercial tower at the L&T premise in Powai suburb. This Seawoods office tower will be acquired in phases as the leasing process is yet to complete.

L&T Realty will assist in further leasing at Seawoods commercial block, as the deal is expected to be inked by late February as the process is currently in its final stages. Earlier in 2016, Blackstone made a deal in Navi Mumbai, a 1-million sq ft. retail mall was bought adjacent to the office tower in Seawoods, from L&T Realty for over Rs. 1,400 crores.

Being the part of the India’s largest Transit Oriented Development, Seawoods Grand Central, is L&T Realty’s office block in Navi Mumbai. This project is a mixed-use development area across 40 acres that includes the mall and other commercial spaces.

Blackstone is said to be directly acquiring these assets, without including its existing joint ventures with Bengaluru-based Embassy Group and Pune’s Panchshil Realty. This is not the first time that the New York based institutional investor has acquired assets and stake in portfolios independently.

With Colgate-Palmolive, JP Morgan Chase and L&T Infotech as the prime tenants, the commercial tower in Powai is completely leased out. This leasing factor together with all the long-term contracts, makes the Powai asset valued at Rs. 1,500 crores with a capitalization rate of about 8.5%.

Establishing its first Indian office in 2005, the leading private equity player has committed over $6 billion to the Indian companies till date. Total 19 companies owning 31 million sq ft. across 18 operating office parks, with an investment of $2.7 billion, comes under Blackstone.

An additional 11 million sq ft. of commercial space under development across the country, adds to this large portfolio. Over the past few years, the Indian real estate assets have been seeing aggressive pattern of investments, by the major global institutional investors such as Blackstone Group, GIC, Goldman Sachs, Qatar Investment Authority, Canada Pension Plan Investment Board and Brookfield Asset Management.

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Commercial

Indiabulls Real Estate Acquires A Commercial Building With Leasable Area Of 2.5 Lakh Sq Ft. In Gurgaon

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Indiabulls Real Estate

Indiabulls Real Estate has earned a distinct reputation for building projects that turn spaces into inspiring places, since its inception. Indiabulls Real Estate went on to expand its projects portfolio, with its prime focus on construction and development of residential, commercial & SEZ projects, across major Indian Metro cities. Today Indiabulls Real Estate is ranked amongst the top Real Estate companies with a total Gross Development value of INR 32,189 crores and net worth of INR 5,480 crores as of 2017.

Indiabulls Real Estate has commercial development with a leasable area of 3.15 million sq.ft. under construction. Further, it has a land bank of 1,046 acres and also possesses 2,588 acres of SEZ land at Nasik, Maharashtra. In 2014, the company acquired the prime property, 22 Hanover Square in Central London for Rs.1630 Cr. The group has also been conferred the status of a Business Super brand by the brand council Superbrands, India. Indiabulls Real Estate is known for its successful delivering of superior products, services to its customers, partners and shareholders.

Indiabulls Real Estate is planning to acquire a large commercial building with a leasable area of 2.5 lakh sq ft in Gurgaon.

To acquire this large area of prime and newly constructed commercial building, Indiabulls Real Estate’s wholly-owned subsidiary has entered into a definitive and a binding agreement. A BSE filing by the Indiabulls reveals that, the deal has an expectancy period of four months, mainly after receiving the Occupation Certificate of the building. Although the name of the seller and deal value was not disclosed.

With many leading multi-nationals operating in the vicinity, makes it a developed prime commercial location. Equipped with an additional leasable area, the company expects to enhance its annuity revenue to Rs 1,450 crore in FY 20-21 from the rental properties portfolio of Indiabulls Real Estate.

With its expansion spree, Indiabulls Real Estate, is counting on the revival in the real estate market in Gurgaon for making its project a success. The commercial realty market is witnessing a strong demand in Gurgaon. So Indiabulls Real Estate is looking forward to set up a state of the art business park in Gurgaon, which would be able to draw reputed corporates and MNCs. As some big-ticket commercial space rentals and deals are expected to be finalized in this space.

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Commercial

Adani’s Bandra-Kurla Complex Project To Be Taken Over By Shapoorji Arm For Rs 2,000 Crore

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Adani’s Bandra-Kurla Complex Project To Be Taken Over By Shapoorji Arm

Shapoorji Pallonji Investment Advisors which is an investment arm of conglomerate Shapoorji Pallonji Group is set to acquire a commercial project Inspire BKC from Adani Realty in a nearly Rs. 2,000-crore transaction. The project is located in Mumbai’s business district Bandra-Kurla Complex (BKC), informed two persons familiar with the development.

Shapoorji Pallonji Investment Advisors has emerged as the frontrunner from a total seven shortlisted interested entities including US-based private equity major Blackstone Group and an alliance between Qatar Investment Advisors (QIA) and Bengaluru based realty developer RMZ.  For this over 8 lakh sq ft project Shapoorji Pallonji Investment Advisors has already completed the due diligence process.

One of the people mentioned above said, “The due diligence process for the asset has been concluded recently, and currently the final documentation is going on. The deal is expected to be concluded soon as both the parties have frozen the structure of the transaction.”

The project has recently been completed and the developer is in the process of receiving few civic approvals, following which it will be concluded. Adani Realty is also one of the companies that is working on closing few leasing transactions here.

In one such lease deals, Swiss multinational pharmaceutical major Novartis’ India arm has entered into an agreement to pick up over 1lakh sq ft office space in this commercial project. This was one of the largest front office commercial transactions in terms of space in the Mumbai in 2017.

Shapoorji Pallonji Investment Advisor is also kept in the loop on the progress of space leasing transactions in this commercial project.

In its first-ever real estate related engagement in India in October the global insurance and asset management major Allianz Group teamed up with Shapoorji Pallonji Group to create an investment platform for office properties.

The platform, SPREF II, will be a Singapore-domiciled, rupee-denominated and close-ended fund planning to raise $500 million in equity.

After partnering with the Canada Pension Plan Investment Board (CPPIB) in 2013 for a platform with an initial target corpus of $200 million this is Shapoorji Pallonji Investment Advisors’ second such tie-up.

The commercial real estate has been registering a healthy growth across prime office markets in past three years.

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