Harbinder Khera

We are thrilled to announce the launch of the Spring 2025 Newmark Commercial Real Estate Bridge Program powered by Project Destined. Today we begin training 25+ students from 15+ colleges and universities, providing them with hands-on experience in the commercial real estate industry. The multi-week program will include interactive speaker sessions with leaders from Newmark, sector specific technical training, and a site visit, providing participants with exposure to early career opportunities at Newmark. Thank you to our sponsor, Newmark, Barry Gosin, Alison Shallcross, Sean Moynihan, Steven Rotter, Jack Fuchs, Nick Scribani, Tamar Moy, Tiffany Yao, MCR, WELL Faculty.

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In the last several years under tough market conditions, there has been a noticeable gap between how sellers present their properties and how buyers evaluate them. Sellers focus on the pro forma—the polished version of the property’s potential, showcasing stabilized occupancy, increased rents, optimized operations, and starry-eyed interest rates. These projections are designed to inspire confidence and spark excitement about the value-add opportunity. Buyers, however, skew towards realized performance. They know the true story lies in the current performance and market conditions: the actual occupancy rates, operating expenses, and net operating income (NOI). They’re asking the critical questions: ✔️ Are these projections realistic given the market conditions? ✔️ How much effort and capital will be required to achieve these outcomes? ✔️ What’s the timeline for bridging the gap between “as-is” and “to-be”? For successful deals, buyers must navigate the fine line between optimism and practicality. Understanding both perspectives is key to making informed investment decisions and uncovering real opportunities. How do you approach balancing the seller’s narrative with the property’s true potential? Share your insights below! P.S. I was digging through some prior photos and found this gem back from 2021 that inspired this post. 😂

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Rent Manager quietly powers 5.5 million rental units across the US. But here's another open secret - they've also built one of the most founder-friendly integration programs in multifamily proptech. While many of their competitors have approval processes that can take months and cost tens of thousands of dollars, Rent Manager gets you live in 48 hours. Total cost? Under $5K for full API access. One of our customers contacted Rent Manager, was approved for API access, and had a working integration live in 3 days. And they don't require mutual clients for API access. Mutual client policies present startups with a Catch-22: the startup needs a customer for API access, but the customer demands a functional integration in order for the startup to win the deal. With Rent Manager, no clients is no problem. Start building immediately. Leading proptechs like Flex, EliseAI, and HappyCo all have integrations with Rent Manager. And I'm seeing an increasing number of new AI startups start building their first integrations on the Rent Manager platform, especially because the annual fee provides access to all of the APIs. That makes it easy for companies to expand into new use cases quickly and for no additional cost. Rent Manager is encouraging proptech innovation by making integrations cheap, fast, and comprehensive. And that's worth celebrating. #PropTech #PropertyManagementSoftware #PropertyManagement #RealEstateTech #ApiIntegration

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PropTech Is Growing Up—And Getting Tougher. That was one of the messages that came across clearly at the Boston PropTech event we hosted at our office last night. Real estate operators are now adopting technology. And in a perverse way, it’s making it harder for PropTech start-ups. Here’s why: Real estate firms and operators/investors are building their own tech infrastructure, customized to their specific business needs. So if you’re a PropTech start-up offering a solution, it’s much harder when a well-capitalized firm is also competing with its in-house system. Real estate is a multi-trillion-dollar market with massive fees, volumes of transactions, and huge inefficiencies, creating a market ripe for disruption. There’s huge opportunity to build and create new products; however, it’s a more competitive landscape than it was previously, imho. RD Advisors is a prime example: we built our own tech platform to analyze, close, asset-manage, and service loans, and we’re now building AI tools into the process. We are also utilizing and integrating a variety of best-in-class tech platforms (and looking for more) in our workflow. Even so, my own personal frustrations led Colin and me to create ReoRei, to streamline our investment process from analysis to offer to bank financing. Another example of building in-house and then offering it to other investors (feel free to check it out and DM me with feedback). The next few years will see massive changes in PropTech and BuildTech, imho, but it’s going to be tougher and tougher to compete. What is everyone else seeing?

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We are in a world where AI is reshaping how decisions get made. This includes analyzing data, extracting signals from the data, making better allocation decisions, and driving NOI for real estate investments. Keyway recently launched a new AI-powered platform that cleans messy financial documents and automates analysis for everything from acquisitions to lender reporting.   You can read more here: https://lnkd.in/euzbjSEf

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