Developer startup favorite Honest Buildings acquired by software company Procore

Developer startup favorite Honest Buildings acquired by software company Procore

It is the latest sign of growing confidence in the construction-tech field

Honest Buildings CEO Riggs Kubiak and Procore CEO Tooey Courtemanche (Credit: Techstars and Procore)

Honest Buildings CEO Riggs Kubiak and Procore CEO Tooey Courtemanche (Credit: Techstars and Procore)

UPDATED, July 16, 1:50 p.m.: Construction management software company Procore has acquired Honest Buildings, a startup favored among institutional developers, the companies said Tuesday.

The acquisition signals confidence in the growing construction tech sector, where major real estate players are putting their capital. Last year, investment in construction tech companies totaled $6.1 billion, almost double what was invested in 2017 and a stark rise from the $350 million invested in 2016. Already, 2019 is on track for another year of record investment with over $4 billion so far.

Procore, which last year raised $75 million in a round led by Japanese conglomerate Tiger Global Management, sells an app used by developers to track a construction project’s progress.

In a statement, Procore’s chief executive and co-founder Tooey Courtemanche said Honest Buildings’ product — an online platform that uses data to allow developers to oversee projects — will be integrated into the Procore platform to provide transparency and accessibility of information to builders.

The firms would not disclose the acquisition price.

Courtemanche launched Procore in 2002 and has over 1,000 employees. It is now valued over $3 billion and has offices in multiple countries.

Honest Buildings, for its part, has drawn big checks from some of the real estate industry’s largest figures since it launched in 2012. The firm, led by Riggs Kubiak, has raised $47 million, in rounds that included the Durst Organization, Brookfield Asset Management and Oxford Properties. In turn, the firm counts those companies as customers.

Return to this page for updates.

Correction: This story has been updated to reflect that it was Tiger Global Management which led the $75 million funding round, not SoftBank.

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¡Indignante! Pareja de cazadores matan a un león durmiendo y celebran dándose un beso

¡Indignante! Pareja de cazadores matan a un león durmiendo y celebran dándose un beso

Darren y Carolyn Carter, una pareja canadiense, se encuentra en medio de la polémica luego de sacarse una foto besándose tras matar a un león indefenso en África.

Según informa RT, los dos adultos contrataron un servicio de safari en donde tienen animales en cautiverio que son criados para ser luego cazados. La fotografía fue subida originalmente por la compañía Legela Safaris, quienes después la borraron debido a la ola de comentarios rechazando la imagen.

«Duro trabajo bajo el caluroso sol del Kalahari… Bien hecho. Un monstruo de león», decía la descripción de la publicación.

El medio inglés se contactó con Darren Carter, el hombre que aparece en la imagen. Ante la consulta por la indignación que causó el registro, señaló que «no estamos interesados en comentar sobre ello en absoluto. Es algo demasiado político».

A su vez, Eduardo Goncalvez, fundador de una campaña para prohibir la caza deportiva, condenó a la pareja. «Parece que este león era un animal domesticado muerto dentro de un recinto cerrado, criado con el mero propósito de servir para una presuntuosa ‘selfie’», sentenció.

Y expresó que «no hay nada romántico en matar a un animal inocente», por lo cual esa pareja canadiense «debería estar absolutamente avergonzada, no presumiendo y besándose para las cámaras».

Según el diario británico, tan solo en Sudáfrica existen hoy en día al menos 200 centros similares que mantienen cautivos a unos 8.000 leones listos para ser tiroteados por dinero.

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La entrada ¡Indignante! Pareja de cazadores matan a un león durmiendo y celebran dándose un beso se publicó primero en Miami Diario.

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North Miami investor aims for healthy returns on medical office properties

Allen Chelminsky bought two medical office buildings in Lauderhill for $5M

7100 West Commercial Boulevard and 7200 West Commercial Boulevard (Credit: Google Maps)

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In life, three things seem certain: death, taxes and investor demand for medical office space.

A company managed by North Miami real estate investor Allen Chelminsky bought two medical office buildings in Lauderhill for $5 million, records show.

The 33,290-square-foot properties are at 7100 West Commercial Boulevard and 7200 West Commercial Boulevard. J & J Properties, managed by John Ekstrom of Coral Springs and Jeth Battisto of Boca Raton, sold the commercial development for $150 per square foot.

The Class B office development was built in 1985 and house doctors’ offices, records show. The properties were last purchased for $2.5 million in 2002, records show.

Chelminsky’s family owns a portfolio of apartment buildings throughout Miami-Dade County. In June 2018, Chelminsky sold an apartment and commercial complex at 14560 Northeast Sixth Avenue in North Miami, consisting of 82 apartments and a 15,000-square-foot commercial building, for $13 million.

A number of medical office buildings have traded hands in South Florida over the past few years for prices that are significantly above their last sale prices. Some of the demand could be due to the aging population of baby boomers who need more medical care. Medical office buildings are also seen as recession-proof and a safe bet for investors looking to buy real estate near the end of the cycle.

In May, the Toledo, Ohio-based investment firm Welltower purchased a 54,484-square foot medical office building at 2901 Coral Hills Drive in Coral Springs for $18.35 million.

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Luego de meses de rumores el cantante español Alejandro Sanz, confirmó este sábado que se separa de su esposa a través de un emotivo mensaje.

Por Redacción MiamiDiario

Por medio de una publicación en su cuenta de Instagram publicó una imagen de su familia acompañado de un texto en el que señaló que «aunque el amor de pareja se acabó, «somos una familia y siempre lo seremos».

El músico tenía siete años de casado con Raquel Perera, con quien tuvo dos hijos: Dylan y Alma, y que esta decisión sólo «transformará las maneras de amarse en otras direcciones, sin destruir el cariño, la lealtad y la responsabilidad conjunta sobre nuestros hijos».

Este era el tercer matrimonio del español, luego de su separación de la actriz mexicana Jeydy Michel, madre de su hija Manuela. Alejandro tuvo otro hijo, Alexander, fruto de una relación pasajera con la puertorriqueña Valeria Rivera.

 

 

Con información de Ciber Cuba

 

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The developers of a condominium at the Ocean Reef Club near Key Largo borrowed $74.5 million to finance construction of the 48-unit project.

Long Island, New York-based ACRES Capital provided the construction loan for the condo project, called Residence Club at Ocean Reef.

The borrowers include John Grunow III and John Grunow Jr. of The Grunow Group and former Trammel Crow Residential executive Ronald Terwillger. Their partners in the project include Martin Levine of Redwood Real Estate Group.

Residence Club at Ocean Reef is designed as a three-building complex spanning 103,700 square feet at 1 Golf Village Drive at the Ocean Reef Club, a gated, 2,500-acre community just north of Key Largo.

Owners of the one-, two- and three-bedroom condo units will have access to the 18,000-square-foot private clubhouse at Ocean Reef Club and the community’s golf course and marina.

The developers have advanced the Residence Club at Ocean Reef, which would be built on the site of a 1970s condominium, despite initial opposition from eight owners of homes in the Ocean Reef Club community. [Commercial Observer]Mike Seemuth

New pastime for the rich and famous: “glamping”

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Here’s why wealthy homeowners are spending $30,000 on tents

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A glamping tent in Mount Maunganui, New Zealand (Credit: iStock)

Glamping is becoming increasingly popular among wealthy homeowners (Credit: iStock)

Wealthy homeowners are increasingly turning to a new form of getaway, and it doesn’t require them to leave their property.

Glamping — or glamorous camping — is becoming more and more popular among America’s wealthy, according to the Wall Street Journal. The high-end tents, which can sell for up to $30,000, even make a great guest home on some estates, homeowners told the Journal.

The increasing popularity of luxury camping has spawned a whole industry. Glamping Hub, an Airbnb-like service, has 21,000 hosts offering luxury camping on their properties. Luxury camping resorts are popping up in the West, and there’s a company, Under Canvas, that manages luxury campsites in eight national parks.

In New York, Terra Glamping this year is bringing an upscale campsite to the Hamptons, and another developer has raised funds to bring a similar setup to the Rockaways.

Glamorous camping is not necessarily a new concept, even if the word “glamping” only made it into the dictionary in 2016. In 1520, King Henry VIII of Britain and King Francis I of France set up in regal camps for a countryside jousting tournament. Ottoman Empire sultans were also known to bring “richly embroidered” tents to some excursions, including military campaigns, according to the Journal.

[WSJ] — Joe Ward

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