Northspyre, a cloud-based intelligence and project delivery automation platform for real estate developers, announced it has facilitated more than $75 billion in capital projects on behalf of the commercial real estate industry. Firms across the country have increasingly utilized Northspyre as their operating system for real estate capital deployment and to improve the management of ground-up developments, fit-outs and major renovations across asset classes, including multifamily, office, retail, hospitality and mixed-use.
“In today’s environment where rising interest rates, ballooning inflation, and shifting cap rates are affecting the industry, the need for solutions that can help firms execute on projects and impress potential financial partners is paramount,” said William Sankey, co-founder and CEO of Northspyre. “Because of this, Northspyre has experienced rapid growth – facilitating more than $75 billion of development projects. As real estate teams increasingly seek ways to modernize their workflows amid a potential downturn, demand for technology that leverages analytics and automation to win more competitive deals and drive favorable outcomes will continue to skyrocket.”
After the past year of unprecedented market disruption, developers are reevaluating the best way to manage their projects. In a recent survey commissioned by Northspyre, project managers overseeing developments across asset classes overwhelmingly pointed to inflationary pressures, inadequate productivity, and uncertain project outcomes as the largest issues plaguing projects. Traditional development processes that rely heavily on gut instinct and poorly organized data often stored in ad hoc spreadsheets and emails are no longer a viable option for development teams attempting to deliver complicated projects in the current market.
Northspyre began servicing customers in the New York and Boston markets in 2017. Since then, it has developed a national footprint, attracting the attention of developers overseeing projects in every major metro area in the country, including Atlanta, Chicago, Dallas, New York and San Francisco. In the past year, Northspyre expanded to more than 30 new high-growth markets, including San Diego, Charlotte and Phoenix.
