Disruptive technologies are deeply impacting how REITs and real estate companies operate today and plan for the future, according to Jim Berry, U.S. real estate and construction services lead at Deloitte.
Berry appeared on an episode of The REIT Report: Nareit’s Weekly Podcast to discuss Deloitte’s 2018 commercial real estate outlook. The report focuses on how new technologies and innovations are affecting the real estate market. Berry noted that real estate companies are facing many of the same concerns and opportunities as other businesses when it comes to addressing new innovations and changes in demographics.
Deloitte’s report outlined some of the latest trends in investment in real estate technologies. “As this becomes a more recognized and a more established opportunity for funding sources, it will become a much more stable platform and become part of the natural structure of seeking certain fundraising,” Berry said.
The technologies drawing the most interest in the real estate industry “run the gamut,” according to Berry. He pointed to advances in data assemblage and connectivity as areas in which real estate companies have opportunities. These advancements have applications in operations, such as leasing. They also provide opportunities for companies and their tenants to share information to help manage costs.