The Print, Vol. 198

Welcome to The Print, Blueprint's weekly curation of the most important things going on in real estate and construction technology. We hope our newsletter will keep you informed as we shine a light on the newest innovations and opportunities that exist in the built world.

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QUICK HITS

• Wells Fargo is renegotiating a deal with startup Bilt after incorrectly forecasting key revenue drivers for its rent credit card. (WSJ)

• Luxury developer Michael Shvo has big plans. Bitter disputes and a soft real estate market threaten to thwart them. (Business Insider)

• Short sellers in real-estate lender Arbor Realty Trust appear stuck in a particularly expensive trade, having underestimated Arbor’s determination to “extend and pretend” its problem loans. (WSJ)

• The U.S. once looked to modular construction as an efficient way to build lots of housing at scale, but Sweden picked up the idea and put it into practice. (NYT)

• What WeWork’s pick of John Santora as the company's new CEO means for its go-forward strategy. (Propmodo)

• Diana Lind wonders how much it matters that co-living is now dead in the U.S. (The New Urban Order)

• PODCAST: A look at the rise of the ecosystem of home equity investments with Eoin Matthews is the Co-founder at Point. (Tangent Proptech)

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BLUEPRINT'S BUILT WORLD CHALLENGE

The Built World Challenge, which will debut at Blueprint Vegas 2024, showcases how the latest technologies can solve real world problems today. This year's judges represent some of the best known brands, and jointly represent $400B+ in real assets. In this challenge we will be looking for solutions relating to everyone's favorite, inescapable topic, Generative AI.  Submissions are open now! Deadline to submit is Friday, July 19.    

Click here to learn more and submit your pitch for consideration.

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RAISES, BUILDS AND TEARDOWNS

• Dubai-based Stake, a fractional property investment platform, has raised a $14M Series A round. (Techcrunch)

• Short-term rental company Sonder will leave 80 properties across the country and has negotiated reduced rents at another 25 locations. (Bisnow)

• Kelvin, as startup building a proprietary AI model for home energy assessments, has raised €4.7M in seed funding. (Techcrunch)

• Preqin and Measurabl have formed a partnership to provide a global dataset of real estate carbon and energy metrics to private markets. (Tech.eu)

• Canary Technologies, a hotel guest management technology startup, has closed a $50M Series C round. (Press Release)

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JOB MOVES AND NEW HIRES

• CrowdStreet, the leading real estate crowdfunding platform, has named John Imbriglia as the company's new CEO. He previously served as managing director at alternative investment marketplace iCapital .(Bisnow)

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NEWLY POSTED JOBS IN REAL ESTATE & TECH

• Proptech Sales at REX -- Austin, Tx

• Strategic Accounts at Elise AI -- NYC or Remote

• Chief Information Officer at Inland Real Estate Group -- Oak Brook, IL

• Originations Principal at Setpoint -- U.S./Remote