The Real Deal - New York Real Estate News

Smart home combo The smart-home startup SmartRent made another big-ticket purchase — its second so far this year — buying the maintenance and resident service software company SightPlan for $135 million in cash. Orlando, Florida-based SightPlan has been around since 2013 but has struggled to scale. The company has about 6,000 properties under management, mostly multifamily buildings. “SightPlan was at a crossroads in its evolution, deciding between raising additional equity or joining forces with a

One commercial developer is banking on industrial real estate’s hot streak by harnessing the power of the hottest thing around: the sun. Trammell Crow has agreed to a $600 million partnership with solar company Altus Power to install solar panels across its industrial real estate development pipeline, the Wall Street Journal reported. The panels will be installed on 35 million square feet of industrial property. In addition to the solar panels, Altus will also invest

Another barrier has fallen in Donald Trump’s road to unload his Washington, D.C. hotel. The General Services Administration approved the $375 million sale of the Trump International Hotel lease to CGI Merchant Group, the Washington Post reported. The agency reviewed CGI’s agreement with Hilton Worldwide, as well as the company’s finances and ability to nab bank financing. Some congressional Democrats called on the GSA to investigate the Trump Organization’s management of the property or even