Shared 19 April, 2024
Reports of a ‘commercial real estate contagion’ coming to Europe have swept across the industry as interest rates continue to erode the value of buildings around the world. The latest victim, Germany’s Deutsche Pfandbriefbank AG, saw its bonds slump following on from concern about its exposure to the property market. Since, lenders have been seen to take increasing provisions on debt extended to property owners and developers.
In a bid to encourage developers to see this through, fu3e is offering real-time data to help funds, owners, developers, and consultants navigate market turbulence, minimising risk by enhancing visibility, aggregating critical metrics from various sources, ensuring a fast, unified, and accurate project overview. The company secured £3.5 million in funding from Gresham House Ventures and is predicting sharp customer growth this year, driven by the harsh financial climate and demand for real-time data.
This month, fu3e closed a deal with McLaren Property, a leading UK developer. McLaren Property, McLaren Living and McLaren Regeneration have a combined pipeline of £4.8bn across 41 sites, a total of 17,500 homes and LCN Partners Capital a recognised leader in the primary sale-leaseback and built-to-suit markets, where investments and leases are directly originated with corporate users of mission-critical real estate. The business already has Harrison Street, Gleeds, 3RE Partners, Boreal IM, Hudson Advisors, and Brookfield Global Asset Management owned Algeco as clients.
Under the leadership of Gavin Gleave, former Managing Director at Morgan Lovell, Executive Director of Connaught PLC, and Mace, as well as Executive Chairman of the F3GROUP, fu3e is guided by a wealth of first-hand experience.
Gavin Gleave, Founder and Chief Executive of fu3e comments: “In addition to facing macroeconomic risks, the commercial property sector is adapting to the changing nature of demand following the pandemic, adding to the wider challenges of operating in the industry today, alongside siloed sets of information and a lack of integration between technology and processes.”
“But can those in the sector best react and continue to be successful during challenging times? This is where PropTech – property technology – can help developers to unlock the power of data, and in turn, better manage risk.”
About fu3e.
fu3e is a real estate software platform designed for funds, owners, developers, and consultants to manage risk, costs, and milestones in real-time, offering live dashboards, drill-down capabilities into source data, connection via APIs, and automation of manual tasks.
To learn more, visit: https://www.fu3e.com/
