Real-estate services firm Cushman & Wakefield is tapping an advisory and investment firm focused on real-estate technology to spark innovations.
MetaProp NYC will help Cushman find and evaluate new real-estate technologies, aiming to hasten the process of identifying ideas and companies beneficial to Cushman’s business, executives at both firms said. MetaProp runs accelerator and pre-accelerator programs for startups annually.
“We believe that the top practitioners across all of our service lines will increasingly need to get exposed to new technologies to meet demand from increasingly tech-savvy clients,” said Adam Stanley, Cushman’s global chief information officer, in an email. “Our industry is changing at an incredible ‘catch up’ speed and we want to lead that transformation.”
The deal formalizes an advisory relationship that already has evaluated 100 opportunities during the last few months, exploring parking technologies as well as services using artificial intelligence and robotics, said Aaron Block, MetaProp managing director.
Cushman is looking for opportunities that could result in pilot programs to test technologies, partnerships and investments and acquisitions.
“They partnered with us to catalyze and drive volume, and bridge the corporate land with the next generation startup land,” Mr. Block said.
While Cushman has longstanding relationships with established and large technology players such as Microsoft Corp. and Salesforce.com Inc., the real-estate company expects MetaProp to open up a substantial channel connecting it with entrepreneurs and startups developing real-estate technology, Mr. Stanley said.
“We want to be able to have a view into potentially disruptive plays coming down the road,” he added.