The future of commercial real estate

 

Many CRE firms needed to revamp and upgrade talent processes before the pandemic. Now the needs are even more pressing. Here are steps leaders can take to transform the people side of their businesses.

Key takeaways

 

    1. Before the pandemic, most commercial real estate (CRE) companies lagged other industries in terms of generational diversity and outdated job roles, talent processes, and culture. To stay competitive in the post-COVID-19 talent landscape, they should start catching up now.

 

    1. As CRE companies envision the future of work, some job roles may cease to exist, others may evolve into a hybrid human-machine combination, and new ones could emerge.

 

    1. Companies should pursue digital and talent transformation in tandem. Technology could be a key enabler for talent transformation, allowing companies to streamline existing talent systems and processes, drive efficiencies, and make more informed and effective decisions.

 

    1. CRE leaders can use a variety
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Opendoor: A Play On The Future Of Real Estate Services (NYSE:IPOB)

Source: Opendoor Brand Assets

Opendoor recently became publicly traded through a merger with the SPAC, Social Capital Hedosophia Holdings II (NYSE: IPOB). In my opinion, IPOB, and Opendoor by extension, offers an excellent play on the disruption of the real estate industry. Opendoor has demonstrated product-market fit, improving unit economics, and a business model that can scale at a high growth rate.

The company’s sales grew ~150% yoy in 2019, and while the pandemic has led to a major contraction in home sales in the past quarter, the overall housing market appears to have mostly recovered to pre-pandemic activity as of August. Given the SPAC merger and other private funding, Opendoor has accumulated enough financial ammunition to continue tackling their proclaimed trillion-dollar market opportunity with some vigour. The company has the potential to become the dominant marketplace for house sales throughout the country and is worth an investment at the

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Future City: Democratizing vacation homes, Bungalow’s breakdown


Spencer’s second act: Vacation homes for all!

Zillow co-founder Spencer Rascoff is back in the real estate game.

The former CEO went public this week with his latest venture: Pacaso, a startup that helps ordinary people purchase second homes.

“We’re trying to create a new category of home ownership, which is second-home ownership,” Rascoff said during an interview on CNBC. To “democratize” ownership, Pacaso’s marketplace helps aspiring owners purchase from one-eighth to one-half of a vacation home. The company will generate revenue on the home sale, and it will collect a fee for managing the property.

Founded by Rascoff and Austin Allison, who sold dotloop to Zillow, Pacaso came out of stealth mode with a $17 million Series A led by Maveron, with participation from Crosscut and Global Founders Capital. Former Starbucks CEO Howard Schultz and Amazon’s Jeff Wilke also invested. Pacaso also secured $250 million in debt to help

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Mighty Buildings 3D-Printed Homes Points To The Future Of Sustainable Housing

There is a problem with housing in this country. From decades of bad public housing policy to retrofitting the suburbs for sustainability to near consistent affordable housing shortages, we have to start looking at more innovative housing solutions. Not looking to solve all that, but certainly falling somewhere within the mix is Mighty Buildings, an Oakland based company 3D-printing generally affordable homes. All you have to do is find a place to put them.

Which, isn’t too far fetched a concept. People are building apartments in their backyards and from a luxury standpoint, offices or extra rooms in the backyard. Like container homes, 3D printed homes seek to offer a generally affordable alternative to a small, sustainable home created in a non-traditional manner. 3D-printed homes are not a new concept but have mostly been stuck in the conceptual phase until recently.

Mighty Buildings built

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What McLaren’s factory sale means for the future of the F1 team

After all, the impact of the financial crisis caused by the coronavirus pandemic had hit the McLaren group’s automotive and racing operations hard – prompting it to plan for 1,200 redundancies and needing to arrange a £150 million loan off the National Bank of Bahrain.

While such measures were not ideal, they did mean at least that once the road car operation started up again and racing got underway, McLaren was able to put any financial uncertainties to one side.

So when news that a ‘For Sale’ sign was being put up at the McLaren Technology Centre, it was easy to conclude that perhaps the team’s economic situation was not as rosy as it had earlier appeared, as there was clearly a need for it to raise the £200 million it hopes to get for it.

Yet rather than this being a knee-jerk measure to get some fast cash, the

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Investor Jonathan Litt on NYC real estate post-pandemic, what’s booming and the future of retail

Jonathan Litt, chief executive officer of Land & Building Investment Management.

Peter Foley | Bloomberg | Getty Images

A View from the Top is a Q&A series exclusively available on CNBC Pro. CNBC reporters will regularly speak with a business leader about decision-making, investing and industry news. 

Land & Buildings Investment Management founder and CIO Jonathan Litt has been closely tracking the ups and downs in the real estate industry, including office, industrial, retail, residential and hotel space, during the coronavirus pandemic. 

Litt has grown L&B, founded in 2008, into a prominent activist hedge fund in the real estate world. In more recent years, he has waged battles with the high-end shopping mall owner Taubman Centers, Forest City Realty Trust (now owned by Brookfield Properties) and office and multifamily property owner Mack-Cali Realty Corp. In 2017, he targeted Saks Fifth Avenue owner Hudson’s Bay, arguing the best use of

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