Posted on

KKR closes $15 billion fund targeting consumption and urbanization in Asia

KKR has just closed $15 billion for its Asia-focused private equity fund, exceeding its original target size after receiving “strong support” from new and existing global investors, including those in the Asia Pacific region.
The new close came nearly four years after KKR raised its Asian Fund III of $9.3 billion and marks the New York-based alternative asset management titan’s ongoing interest in Asia. It also makes KKR Asian Fund IV one of the largest private equity funds dedicated to the Asia Pacific region.
KKR itself will inject about $1.3 billion into Fund IV alongside investors through the firm and its employees’ …

Read More

Posted on

Knotel co-founder leaves company, describes investor Newmark as ‘a stalking horse’

Earlier this year, we covered the demise of flexible workspace operator Knotel.
The once high-flying startup had just announced it had filed for bankruptcy and that its assets were being acquired by investor and commercial real estate brokerage Newmark for a reported $70 million.
It was a hard fall for a company that just one year prior had been valued at $1.6 billion.
It was hard to pinpoint exactly the beginning of the end for Knotel, which had raised about $560 million in funding. Some said the pandemic was the nail in Knotel’s coffin, while others pointed out the proptech was already …

Read More

Posted on

Compass CEO hails IPO as a fundraising event amid ‘challenging’ market

While several tech companies are opting to delay their IPOs in the face of less-than-enthusiastic market demand for their shares, real estate tech company Compass forged ahead and went public today. After pricing its shares at $18 apiece last night, the low end of a lowered IPO price range, Compass shares closed the day up just under 12% at $20.15 apiece.
TechCrunch caught up with Compass CEO and founder Robert Reffkin to chat about his company’s debut in the market’s suddenly choppy waters for tech and tech-enabled debuts.
Regarding whether Compass is a tech company or a real estate brokerage, Reffkin — …

Read More

Posted on

Extra Crunch roundup: Clubhouse UX teardown, YC Demo Day favorites, proptech VC survey, more

Since the pandemic began, I have been pushing the limits of my imagination to try to picture what cities will look and feel like in the coming years.
If your town looks like San Francisco, where I live, it’s a pressing question: Our once-bustling financial district is a ghost town, but even in outer neighborhoods, the number of vacant storefronts is unsettling. People are starting to emerge after sheltering in place for a year, but we are a long way from fully restoring our shared spaces.
What’s going to happen to those semi-vacant office towers, some of which …

Read More

Posted on

Side raises $150M at $1B valuation to help real estate agents go it alone

Side, a real estate technology company that works to turn agents and independent brokerages into boutique brands and businesses, announced Monday that it has raised $150 million in Series D funding.
Coatue Management led the round, which brings San Francisco-based Side’s valuation to $1 billion and total funding raised to over $200 million since its 2017 inception. Existing backers Matrix Partners, Trinity Ventures and Sapphire Ventures also participated in the new financing.
The round is notable in that the amount raised is significantly higher than the $35 million Side raised in a Series C round in November 2019. Valuation too increased nearly 7x compared to …

Read More

Posted on

Real estate tech startup Offerpad to go public via SPAC merger in $3B deal

Offerpad is the latest proptech company to go public via a SPAC merger.
The Phoenix, Ariz.-based company announced Thursday its plans to go public by merging with Supernova Partners Acquisition Company in a deal valued at $3 billion.
The transaction is expected to close in the second, or early third, quarter of 2021. The combined company will be named Offerpad Solutions and trade on the New York Stock Exchange under the ticker “OPAD.”
Founded in 2015, Offerpad started out as primarily an iBuyer (meaning it bought homes from sellers who signed up online) and has since evolved its platform in an effort …

Read More

Posted on

Compass files S-1, reveals $3.7B in revenue on net loss of $270M

Compass, the real-estate brokerage startup backed by roughly $1.6 billion in venture funding, filed its S-1 Monday.
The move comes just under one year after the New York-based company laid off 15% of its staff as a result of the shifting economic fortunes created by the global response to the novel coronavirus pandemic.
Prior to the IPO, SoftBank’s Vision Fund holds slightly more than a one-third stake in the company. Other investors include the Canadian Pension Plan Investment Board, Fidelity, Wellington Management, and the Qatar Investment Authority, according to Crunchbase.
The company’s last fundraise was in July 2019, when Compass — a …

Read More

Posted on

From food delivery to housing: Former Favor founders raise millions for Sunroom Rentals

Real estate tech startup Sunroom Rentals, which leases units on behalf of property managers and apartment owners, has raised $11 million in a Series A round of funding led by Gigafund.
Ben Doherty and Zachary Maurais, former founders of the delivery app Favor, launched Sunroom in May 2018 with the mission of “boosting the profitability” of mid-size property managers and apartment owners by giving them a way to outsource their leasing operations.
The pair sold Favor to Texas grocer H-E-B in 2018 and soon after shifted their focus on building out Sunroom. The Austin-based company has developed an app that it says gives …

Read More

An HR perspective on the future of workplace as it relates to Covid-19, CRE and D&I | Rebecca Ahmed

An HR perspective on the future of workplace
as it relates to Covid-19, CRE and D&I

Rebecca Ahmed
Corporate Managing Director, Savills
Leadership Coach


Rebecca Ahmed is an upcoming TEDx speaker, certified Energy Leadership Coach with the International Coaching Federation (ICF), and published writer. She has taken her expertise and launched her own business, Laugh Thru Life, where she brings energy and joy to the workplace and is a recognized expert in talent acquisition, culture, and diversity and inclusion. During her 10+ years as a leader in Human Resources (HR) in Hospitality, she is most notably recognized for partnering with C-Suite Executives through a 2.8B M&A, overseeing Talent Acquisition, HR Operations and Technology for up to 16,000+ team members. Rebecca joined Savills in 2019 as their Corporate Managing Director to help organizations leverage their commercial real estate to attract top talent. Rebecca has a bachelor’s in public relations with a double minor in communication design and business from the University of Southern California, and a master’s in hotel administration from the University of Nevada, Las Vegas.


Founded in the UK in 1855, Savills is one of the world's leading real estate service providers. At Savills, we help organizations find the solutions that ensure employee success. Sharply skilled and fiercely dedicated, our integrated teams of consultants and brokers are experts in better real estate. With services in tenant representation, capital markets, project management, workforce/incentives and workplace strategy/occupant experience, we’ve boosted the potential of workplaces around the corner, and around the world, for 160 years and counting.

Posted on

OptioLend launches new marketplace to become ‘the LendingTree of commercial real estate’

The commercial real estate industry is facing its share of challenges, considering the fact that so many people are working from home (and not in offices) and retail is riding a slippery slope as more people shop online.
But from downturns, opportunity emerges.
Enter OptioLend, a new startup that wants to help individual investors take advantage of opportunities in commercial real estate by connecting them with “the best possible” lenders. The Columbus, Ohio-based company launched its marketplace Tuesday after months of operating in private beta.
The new platform uses an AI-powered algorithm and a database of more than 9,500 capital sources …

Read More