NEW YORK – October 10, 2019 – Berkadia today announced the launch of BeEngaged, a program within the firm’s Innovation Division that advises and fosters startups that are redefining the commercial real estate industry. BeEngaged provides startups with resources, strategic counsel and a collaborative network to test and grow innovative concepts.
“As a best-in-class advisor to our clients, we continuously look for ways to introduce new solutions and increase business efficiencies. Partnering with the commercial real estate technology startup community is a pivotal aspect of our strategy. In fact, when we polled Berkadia experts earlier this year, investment sales brokers (89%) and mortgage bankers (83%) agreed that the industry’s evolution of technology has been key to streamlining processes,” said Darren Wesemann, Executive Vice President and Chief Innovation Officer at Berkadia. “We’re excited to support emerging startups and innovators through BeEngaged by incubating talent, testing pilot ideas and introducing new solutions.”
BeEngaged features two components to foster innovation and collaboration across the commercial real estate industry: BeEngaged Network and BeEngaged Lab. The BeEngaged Network develops an ecosystem of synergistic partners working toward common goals by fostering mentorship, collaboration and resources through Berkadia experts, large industry players and venture capital partners.
Companies participating in the BeEngaged Network that have proven potential for long-term growth and industry transformation can also leverage BeEngaged Lab. This forum of startups will partner with Berkadia for long-term initiatives, which in turn, allows participants to leverage Berkadia’s network and technical experience in the exploration of pilots, co-developments and technology testing.
“We’re looking for ‘disruptors’ in the industry who are asking the tough questions and challenging commercial real estate’s status quo to create innovative, game-changing solutions,” said Bryce Nyberg, Director of Transformation and Innovation at Berkadia. “Technology’s impact on the industry has only begun, and by collaborating with these startups and cultivating emerging companies, Berkadia has set its sights on what’s next in efficiency and client service.”
In the program’s early stages, Berkadia has already chosen select startups—those that have shown potential to transform multifamily commercial real estate—to join the BeEngaged Network and begin receiving strategic guidance. The pilot participants include:
- Real Factors: Providing unique information tools and predictive insights to CRE research and investment professionals using alternative data, Real Factors has already been acquired by 7Park Data, a Vista Equity portfolio company, since joining the BeEngaged Network.
- BEEK HILL: Second place winner in Underwriting in Information & Intelligence for the 2019 CRETech RETAS Awards, BEEK HILL is a cloud-based solution that automates commercial real estate valuation and cash flow modeling to streamline commercial real estate transactions.
- Whose Your Landlord: A platform that empowers and informs the rental community, Whose Your Landlord provides landlord reviews, housing literacy content and software, which assists home providers in better engaging the needs of their residents, allowing them to improve tenant experience and reduce turnover.
- Predictre: Empowering real estate investors, lenders, and developers to make their forward-looking data actionable, Predictre’s platform aggregates, visualizes, and analyzes unstructured data to produce new insights, making it easier for firms to master their markets and make better, faster investment decisions.
- BlueSuit: Using machine learning and artificial intelligence, BlueSuit takes the hassle out of pulling information from commercial real estate contracts.
- VirtualAPT: Another second-place winner of the 2019 CRETech RETAS Awards in the AR/VR in Property Search & Marketing category, VirtualAPT uses robots to film fully-interactive, 360 degree video tours and recreate in-person experiences of the built world.