Y Combinator alum Matterport is being bought by real estate juggernaut CoStar at a 212% premium [TechCrunch] Digital twin platform Matterport has agreed to be acquired by one of its customers, CoStar, in a cash-and-stock deal of $5.50 per share that gives it an enterprise valuation of about $1.6 billion. Matterport’s tech helps companies create digital replicas of physical spaces.
How Regency Centers’ Pilot with Short-Term-Leasing Tech Provider Spacewise Works [ICSC] Spacewise CEO Chalid El Ashker wants landlords to rake in more cash from specialty leasing by letting tenants hop online to book short-term deals for pop-ups, kiosks, film shoots, digital screens and holiday events. He pointed to the booking platforms that have bolstered hotels and airlines since the mid-1990s. “Commercial real estate — and especially retail real estate — is using a tiny fraction of the potential that online channels and online marketing are offering.”
REITs Join WHP in Bid to Buy Express in Chapter 11 Sale [GlobeSt.] Express is closing more than 100 stores and expects the balance of its fashion retail portfolio to be acquired by a consortium led by WHP Global, the company disclosed in a filing for Chapter 11 bankruptcy protection. In the SEC filing, Express said it has received a non-binding letter of intent from the consortium, which includes Simon Property Group and Brookfield Properties.
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