Sarah Hoban of CIRE Magazine recently wrote an article about the state of proptech today, including insights from Frank Spadafora, Real Estate Industry Principal at Intapp. The article covers how commercial real estate is working to meet the challenges posed by COVID-19 and be ready for the future by leveraging proptech.
In the article Frank asserts:
The pandemic exposed that many commercial real estate organizations lack resiliency, primarily a symptom of disconnected processes and data, which makes it extremely challenging to respond to a dynamic, rapidly changing market. Manual, trailing data processes were historically sufficient to manage commercial real estate investments and operations. But during the pandemic, property managers had to suddenly deal with immediate challenges, like buildings that were running at a 20-percent occupancy level. Multifamily owners needed data on tenant movements and rent analysis. Investment and asset managers had little to no real-time data to inform how COVID-19 was going to impact their portfolio.
To read more about the need for integrated data and how a holistic approach can be the solution, please see the article at the link below.
CIRE Magazine – Spring 2022
Proptech’s golden age