The upfront value of consolidating technology may be relatively small. But it is an important step in unlocking the insights needed to drive significant asset value creation.
Read MoreThe “flight to quality” is happening across property types. The challenge is that the definition of “quality” has changed significantly in the last two years. This change generally falls into three broad categories: ESG reporting, building efficiency and health/wellness for occupants.
Read MoreBy digitizing all the building’s information, it has given Johnny flexibility and allowed him to find the best providers for the job. He had previously been stuck with poor performing third party vendors because they were the only ones who knew the building.
Read MoreThere are very talented people at the top, coordinating the various moving pieces and stakeholders required to tackle decarbonization. But ultimately, their fate is going to be determined by the actions of those in the trenches; the building engineers, technicians and property managers.
Read MoreBuilding operators must be part of the ESG strategy and yet, they cannot be expected to drop their core responsibilities. Technology will work best when it automates “new work” related to ESG, and augments standard workflows to serve ESG goals.
Read MoreBut the goal is to fix the capital planning process. We can’t stop at democratizing information, we have to focus on improving decision making. Unfortunately, the true equipment condition is unknown for most discussions.
Read MoreWhen it comes to capital planning, things are still done as they have been for decades. Nearly every portfolio still relies on spreadsheets, a mountain of PDFs and emails to document changes made and evaluations completed, and the institutional knowledge of those who know the building best.
Read MoreThe same portfolios that have invested huge amounts of money and time in standardized millions of end points in a secure data warehouse still have their engineers doing their operational workflows the same way they have for decades. Why is that?
Read MorePortfolios are rapidly expanding, operating costs are rising, the engineers you’ve counted on are retiring, investors are demanding more than ever. Technology is the answer, but there are hurdles to getting new tools implemented, starting with the fact that asset managers are not end users.
Read MoreThe realty for the vast majority of properties, definitely in multifamily but also in office, hospitality, retail and industrial, is that most workflows are still being done not only manually, on paper. Nowhere on the horizon is technology going to displace building operators.
Read MoreThe clock is ticking and there’s immense pressure to get it right so that the portfolio can continue to scale. What’s needed is a roadmap, a clear progression from the first step to the ultimate goal. So, let’s break ESG into three broad categories, each of which builds on the last.
Read MoreThere is a framework emerging that is helping owners and operators understand how to segment operational activities in a way that can effectively be covered by broad, consolidated platforms. This framework splits up the “Front of House” and “Back of House” technologies.
Read MoreThe truth is, from a technology perspective, there’s always a natural tension between serving users and serving managers. It almost always boils down to robustness of reporting versus ease of use.
Read MoreThere has been $18 billion spent on mergers and acquisitions in the PropTech space in 2021. While some may cheer the consolidation of platforms, the reality closer to a consolidation of distinct products under one corporate umbrella, rather than a seamless software experience.
Read MoreIn triple net leased assets, tenants pay their utilities directly. When it comes to ESG, that means that the owner has little or no transparency or access to the data they need to satisfy investor’s increasingly tough requirements. There is no silver bullet, but there are strategies to pursue.
Read MoreNew York, Washington DC and Boston have already passed laws with financial penalties for inefficient buildings. This trend is only going to intensify, but there is a blueprint for how to future-proof a commercial portfolio.
Read MoreInstead of hand-wringing over the ROI of real-time monitoring, leaders are recognizing that granular data provides the transparency necessary to make the capital investment decisions that will be necessary to hit aggressive targets.
Read MoreThe truth is, an entire generation of engineers retiring is one of the existential crises facing the commercial real estate industry. The pandemic isn’t helping either. Workers are now leaving the labor force due to retirement at twice the rate they were pre-pandemic.
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