Fifth Wall

I’m excited to share that following my recent retirement from Phillips Edison & Company, I have joined Fifth Wall as a Senior Advisor. I have long been impressed by Brendan Wallace, Jeremy Fox, and their team at Fifth Wall, as they have proven themselves to be an invaluable partner to today’s leading owner-operators as the industry strives to navigate the intersection of real estate, technology, and energy. I look forward to jumping in and further deepening the Firm’s relationships with its 110+ strategic Limited Partners and the real estate industry as a whole. Read more about my new role: https://lnkd.in/evC9aRMi

📰 Devin Murphy Joins Fifth Wall As Senior Advisor Please welcome Devin Murphy as Fifth Wall's newest Senior Advisor, working alongside Mary Hogan Preusse and our team to further deepen our relationships with our consortium of 110+ strategic Limited Partners. With nearly 40 years of unparalleled experience as a Real Estate Banker and REIT Executive at Phillips Edison & Company, Morgan Stanley, and Deutsche Bank, Devin will be an invaluable asset to our clients as they continue to navigate disruptive trends, from AI and automation to climate change to inflationary pressures and changing tenants preferences. Release: https://lnkd.in/e_tws-qd

🌎 Fifth Wall's Second-Annual Climate Summit will be in Las Vegas, NV, on September 17th as part of Blueprint: The Future of Real Estate! After a successful kick-off in 2023, we’re excited to once again bring together leading owner-operators, entrepreneurs, sustainability thought-leaders, and integral policymakers to discuss the intersection of real estate, technology, and energy. Register here with our unique discount code for $300 off: https://lnkd.in/ewf48ExE

PMS integration fees are a blocker for many proptech startups - here's how I'd change them: Today, many integration programs charge a high upfront annual fee for API access, with additional costs based on usage & scale. By comparison, let's examine the App Store: Apple makes most of its money based on a revenue share rather than upfront cost. This has two huge benefits: ⏰ TIME TO MARKET: It is easy for new companies to get their ideas to market with minimal investment. 🤝 ALIGNMENT: Apple & App Store vendors are 100% aligned. Apple makes the most money when its integration partners generate a lot of money. A revenue share model would better align the success of property management software companies and the proptechs who want to integrate. Some PM software companies have already taken this approach - kudos to Buildium, A RealPage Company, whose integration program uses revenue share agreements. I hope we'll see more property management software companies go in a similar direction. #propertymanagementsoftware #proptech #integrations #revenuemodel

📦 One of the biggest stories in real estate right now are empty or outdated commercial real estate, especially office. Neighbor, led by CEO Joseph Woodbury, is an ancillary income platform that can help real estate owners big and small monetize their empty space as storage or parking. The real estate industry spends billions annually constructing new storage and parking space, but Joseph and Neighbor believe a lot of empty space that is already built could be a better and more profitable solution than building new. Disclaimer: Neighbor is a Fifth Wall portfolio company. #realestate #storage

🔋California has become a global leader in installing grid-scale batteries since 2020, second only to China. These batteries store energy produced by solar power during the day for use at night, reducing reliance on fossil fuels. They also help with managing heat waves and wildfires. California has a goal to achieve 100% carbon-free electricity by 2045, and large batteries are a big part of making that happen. In the last three years, around 16,000 megawatts of storage has been added to the national grid, with expectations of doubling this capacity in the next year. 🎥 Featuring Francesca Whitehead #grid #batteries #energy

😊 According to sentiment analysis on Glassdoor data, companies with flexible working polices have happier employees than those with full-time office mandates. There was no different in sentiment between fully remote companies and structured hybrid ones, but there was a significant different in sentiment among companies with full-time office expectations. Employees felt less positively about culture, work-life balance, and career opportunities at these organizations, according to Scoop. 🎥 Featuring Rob Sadow, CEO and Co-Founder of Scoop

📸 We pride ourselves on prioritizing partnerships and forging high-trust relationships between our team, our LPs, and our portfolio companies. In-person events, like our 2024 AGM this past March, are a great "physical instantiation" of our model (as Brendan Wallace sees it). #venturecapital

As our industry evolves, I think the term "proptech" will evolve to mean more than just software for the real estate industry. It will also include built world climate technology. This is not something I would have said a few years ago: in the early days of Fifth Wall's Climate Fund, we clearly divorced our climate tech and proptech strategies and ran them as separate pools of capital. But as we've evolved we've realized it's getting very hard to disambiguate the two, and it's impossible to be a credible proptech investor without also investing in climate tech...and vice versa, if you're investing in climate tech for the real estate industry, you need to have a deep understanding of proptech: real estate software and how the digitization of real estate works. My sense is this will all basically be referred to as "proptech," but the term will widen to include this built world climate technology. #proptech #climatetech #venturecapital

Proptech integrations are hard, and it’s been this way for more than a decade. We can solve this problem by taking a page out of fintech’s playbook… In the fintech industry, banking systems historically required large engineering teams. Companies like Plaid and Stripe revolutionized this process by simplifying integrations, which resulted in a huge wave of fintech innovation. Many leading property management softwares, companies like Yardi and RealPage, were founded in the 80s and 90s. Their SOAP APIs can be difficult to work with. As a result, proptechs have frequently struggled to build integrations that work with these foundational technology platforms. Integrations are becoming increasingly expensive, causing operators to spend millions every year just trying to maintain all the various technology solutions in their proptech stack. My company, Propexo, seeks to ease the integration burden for property operators, who currently spend significant amounts on maintaining their tech stacks. By providing streamlined and reliable integrations, Propexo helps reduce these costs and turn integration into a competitive advantage. Propexo aims to address this by standardizing and modernizing API integrations, making them more efficient and enabling proptech firms to expand their market reach quickly. Proptech is on the cusp of a revolution… #proptech #multifamily #propertymanagementsoftware #integrations