Starting up: Real estate companies are investing in early-stage real estate technology firms
The early-stage, real estate technology venture capital space is a varied and complex arena, with the big real estate company aspirants all opting for different approaches.
Although the reasons for the evolving interest in commercial real estate technology ventures are numerous, Joseph Stecher, founder and CEO of New York City–based Candlewood Investors and a senior adviser to commercial real estate technology startup RealConnex, distills their motivation into a small bucket of core issues: a technology lag in the commercial real estate sector, influence over a new product, better insight than from other capital sources, and being able to use and be financially rewarded from a franchise that it helped create.
“As users, these companies believe they would be more able to spot opportunities and better understand how these technologies can be incorporated into real estate businesses than can a more general venture capital company,” says Stecher.
Among the com