The commercial real estate industry is being inundated with new technologies and property technology companies created to improve virtually all aspects of real estate investing and management.
Some of the processes being targeted include attracting tenants, reducing transaction costs, and increasing the information at investors’fingertips. All this CRE tech—or “proptech”—has raised expectations, as well as questions, for institutional real estate investors: How do these technologies affect ex- pected revenues and expenses? What new services and technologies should be adopted? Which tasks and operating processes need to be rethought? How will today’s real estate roles, from acquisitions to asset manage-ment, be different in five years? Will early adopters have a first-mover advantage?
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