Cadre will use Foursquare Places data to identify compelling commercial real estate investment opportunities.
“Transformation” is the key word for real estate investing, as noted by PWC in its 2019 Report, and we’re continuing to transform the industry with the deployment of technologies that we believe can help identify investment opportunities or enhance the risk/return profile.
Our latest innovation comes in the form of a partnership with Foursquare, to integrate deeper, location-based insights across our platform and help our investors stay ahead of the market. We’re changing the landscape, both literally and figuratively.
Foursquare Places — a rich venue database comprised of tens of millions of real world, commercial properties — offers investors highly relevant and up-to-date information about certain locations. This includes granular venue categorization, foot traffic popularity scores and visit feeds, as well as visibility into top-rated nearby attractions, making it easier than ever before to understand and quantify the vitality of a neighborhood. This information helps real estate investors and developers recognize patterns and analyze demographics of existing neighborhoods, facilitating the identification of emerging, high-growth potential markets.
“New location-based data sources have become increasingly important in identifying compelling investment opportunities. We are excited about working with Foursquare Places as we continue to develop unique market-level insights that guide our investment decisions,” said Ryan Williams, CEO of Cadre. “We believe that long-term outperformance in our industry can be achieved by complementing institutional investment experience with a data-driven, quantitative approach, which makes our partnership with Foursquare very promising. The Places dataset provides unique insights into the vitality of neighborhoods around the country. We believe this dataset will enhance our ability to identify and deliver commercial real estate investment opportunities to more individuals on our platform.”
“Foursquare has developed a dataset of the most frequently visited places world-wide, validated by feedback from millions of consumers and partners every day. We’re excited to provide Cadre with direct access to our unique datasets to support their mission of democratizing and increasing access to the real estate market by giving more people the opportunity to improve their financial futures through smart commercial real estate investment,” said Josh Cohen, SVP of Product at Foursquare.
There’s no doubt that technology has evolved from compiling “big data” to finding better ways to make decisions using data. Foursquare’s technology has already been used in innovative ways: to understand the impact of venue popularity on property prices, create metaheuristic optimization approaches to improve traffic flow in major cities, and create an intelligent tree-planting approach in NYC. Our partnership with them is yet another example of how location data and technology can be leveraged to disrupt real estate investing, and is another milestone on our mission of expanding access and liquidity in the commercial real estate investing world.
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Any discussion regarding “Opportunity Zones” — including the viability of recycling proceeds from a sale or buyout — is based on advice received regarding the interpretation of provisions of the Tax Cut and Jobs Act of 2017 (the “Jobs Act”) and relevant guidances, including, among other things, two sets of proposed regulations and the final regulations issued by the IRS and Treasury Department in December of 2019. A number of unanswered questions still exist and various uncertainties remain as to the interpretation of the Jobs Act and the rules related to Opportunity Zones investments. We cannot predict what impact, if any, additional guidance, including future legislation, administrative rulings, or court decisions will have and there is risk that any investment marketed as an Opportunity Zone investment will not qualify for, and investors will not realize the benefits they expect from, an Opportunity Zone investment. We also cannot guarantee any specific benefit or outcome of any investment made in reliance upon the above.
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