Welcome to a new year and another new issue of The Real Deal.
This month’s features include:
Empty promises in Silicon Valley: Two years after Apple, Google, and Meta pledged $4.5 billion to help address an affordable housing deficit by building 40,000 new homes in California, they’ve delivered just 1,500. Reporter Matthew Niksa details how the tech giants’ bold ambitions met reality.
Proptech’s year of consolidation: Investors funneled a record amount of capital into proptech last year, generating massive funding rounds at eye-popping valuations and fueling an unprecedented level of M&A. Reporter T.P. Yeatts on how dealmakers have focused on combining solutions and building out platforms — flexible tech foundations capable of being rapidly scaled across real estate portfolios.
The Closing with Todd Michael Glaser: In one of our wildest Closing interviews to date, Hiten Samtani sits with Todd Michael Glaser, South Florida’s most audacious spec home developer, on building for celebrities, selling infamous properties and transforming Miami’s real estate scene.