The Print, Vol. 213

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

• America’s historic retreat from the office building may finally be winding down. More companies are backing away from the looser workplace policies they adopted during the early years of the pandemic as executives increasingly recommit to promoting an office culture. (WSJ)

• Investors are betting that flipping brown buildings into green properties has the potential to become a hugely profitable business. (Bloomberg)

• Many would-be home buyers are still hoping for mortgage rates to come down as the Federal Reserve cuts interest rates. How much they will fall is unclear. (NYT) Even in a depressed market, people are still getting loans and buying houses – and some companies are positioning themselves to capture a larger share of the mortgage market. (Mike DP)

• Current market shifts mean more bad news for real estate unicorn startups funded during the boom cycle a few years ago, as we see collapsing share prices of several that made it to the public market. (Crunchbase)

• An interview with Eli Harris, Co-Founder and Partner at One Dream Ventures, about how the global energy transition is affecting real estate and construction. (Tangent Podcast)

• Concrete is the most ubiquitous man-made building material on the planet, but making it generates massive amounts of CO2 emissions. Companies are experimenting with ways to green the process. (e360)

• A look into the student living proptech revolution. How can emerging technology such as artificial intelligence enhance the performance of purpose-built student accommodation operators and developers? (Property Week)

• "Wi-Fi has become an essential part of multifamily. Is it just another amenity, or something much more?" asks Dom Beveridge. (Thesis Driven)

• Fintech has joined proptech as the newest technology cohort for the real estate industry. Experts in the two technology sectors agree that fintech is growing fast. (Commercial Observer)

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TICKET PRICES FOR BLUEPRINT RISE TOMORROW!

Blueprint Vegas 2025 is set to be bigger and better than ever. Registration is open, as well as your chance to lock in the lowest ticket price available to attend! 

Click here to learn more and save $200!

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RAISES, BUILDS AND TEARDOWNS  

• Fractional, a startup enabling users to co-invest in properties together, raised $15M in Series A funding. (Axios)

• Opendoor, a real estate tech company, has announced that it will lay off 300 workers, which total 17% of Opendoor’s staff. (SFGate)

• Moderne Ventures, a strategic venture capital and growth equity firm investing in technology companies in real estate, finance, insurance and sustainability, has announced its 2024 Fall Moderne Passport Class. (Press Release)

• Mexico-based MoradaUno, which wants to get more tenants into rentals by underwriting their risk, has raised a $5.6M Series A round. (Techcrunch) 

• Blackstone is in advanced talks to acquire Retail Opportunity Investments Corp., a San Diego-based shopping center REIT that focuses on the western U.S. and has a market value of $3.4B. (Connect CRE)

• Billd, a provider of financial solutions for commercial subcontractors, has secured $17.5M in strategic funding. (Press Release)

• Further, a fintech platform that walks users through the financial side of home buying, has raised a $4.1M pre-seed round. (Techcrunch) 

• LuxWall, a leader in glass-based transparent insulation solutions to reduce energy consumption and carbon emissions from buildings, has closed a $51M Series B round. (Press Release)

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JOB MOVES AND HIRES

• Anthony Hitt will step down as CEO of Engel & Völkers Americas. Stuart Siegel, the Americas chief strategy officer, will serve as interim president and CEO until a permanent replacement has been found for Hitt, who has served with the luxury brand since 2010 (Inman) 

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FIRE'S PROPTECH JOB BOARD

The Foundation for Innovation in Real Estate is highly excited to announce the launch of its new, comprehensive job board; an initiative designed to centralize and expand career opportunities across the entire proptech and contech ecosystems. The board was developed in strategic partnership with LMRE, JLL Spark, and Alate Partners.

Click here to learn more!