The next wave of proptech innovation will likely be aimed at modernizing aging buildings across major cities.
As the way we work, live, and play consistently changes, developers are now focused on creating properties that reflects the vision of how current and future generations will want to live.
“As real estate is finally catching up to other asset classes in technology adoption, we’ve noticed a recent spike in organizations that work as aggregators to bridge both data and offerings together into a single platform. This spreads across B2B and directly to the consumer,” says Mitchell Moinian, principal of The Moinian Group.
For example, The Moinian Group recently invested in a company called Moved that works as a digital moving concierge, providing services throughout the entire move-in and move-out process, including a tool that aggregates moving quotes from multiple vendors. This gives consumers the transparency needed to trust new innovations in what has historically been a very dated transaction, Moinian tells GlobeSt.com.
Another technology partnership Moinian has gravitated towards is Rhino, a company which provides financing solutions to what has historically been upfront costs such as security deposits, insurance, and lease guaranties.
“Rhino provides financing solutions on a month-to-month plan for security deposits. The company was created to get responsible tenants into the spaces they want to live in and work in. By reducing upfront costs and streamlining approvals, Rhino helps us get rentals off the market and happily occupied faster,” explains Moinian.
Moinian believes the biggest breakthroughs so far have been conceptual, programming, and information-related, focused on providing solutions for singular challenges.
“The next wave of proptech innovation will likely be aimed at modernizing aging buildings across major cities,” says Moinian. “The recently passed legislation in the Climate Mobilization Act will require heavy action on landlords to bring their buildings up to a strict standard starting as early as 2024. Proptech will continue to be key in enabling landlords to meet these new building standards and efficiencies.”
The Moinian Group holds a portfolio in excess of 20 million square feet, owning & operating properties across every asset category. To date, it has invested in 11 companies, Knotel, Nestio, Ollie, The Well, Rhino, inDinero, Moved, TF Living, OnSite IQ, ROCEAN & Paintzen.
By: Tanya Sterling (GlobeSt)
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