As the first month of 2019 comes to a close, there’s no doubt a significant number of 2018’s hottest CRE tech concepts, products, and trends have come and gone quicker than most of our New Year’s resolutions. After all, time is the greatest asset we have as an industry in deciphering what will ultimately materialize as legitimate solutions destined to drive the commercial real estate industry forward, forever changing how business is done.
As the year draws to a close, the Lyra Intel team likes to look back at the major themes that affected the US commercial real estate market. This blog will later be accompanied by our 2019 predictions post, where we try to look forward and provide industry thought leaders with key items to keep an eye on in the coming year.
From optimizing for NOI to understanding business challenges and emerging industry opportunities, data plays an important role in how property managers and owners oversee their portfolios. However, most data the multifamily industry collects is delayed and siloed, and therefore is not actionable. In such an aggressive industry, inactionable data could mean the difference between hitting your revenue goals and missing them completely.
Lyra Intel, my latest CRE tech startup, launched last month and since the official public announcement I've repeatedly been asked why I began this latest venture. Most industry professionals know me from my previous startups within the space, i.e. Commercial Defeasance, TCAM Asset Management, and Investor Management Services, but I also serve as the owner of a commercial property group R. J. Finlay & Co. It was the experience with the latter and specific needs around property management and investment allocation that perpetuated the concept which became Lyra.