Real Estate Tech Firm Matterport May Go Public Via Spac

Matterport CEO RJ Pittman (Getty)

The VC-backed real estate tech company Matterport, which designs software that allows virtual walkthroughs, is the latest firm to explore going public via a blank-check company.

The company is in talks to list via a merger with Gores Holding VI, a special-purpose acquisition company founded late last year by investment firm the Gores Group, Bloomberg News reported. The companies confirmed the arrangement in a press release Monday morning.

The deal is expected to close in the second quarter of 2021. The new company will be known as Matterport Inc., and will list on Nasdaq under MTTR. The transaction would value the combined company at more than $2 billion, according to Bloomberg.

Virtual walkthroughs of properties have become increasingly popular during the pandemic, especially in areas of the country where in-person showings were prohibited for a period of time.

Matterport’s 3D technology is used in more than 130 countries by clients, which include Redfin and Marriott International. The company has raised $168 million and was valued at $355 million in 2019. Its investors include DCM Ventures and the venture arms of Advanced Micro Devices and Qualcomm.

The SPAC frenzy that has gripped investors in the past

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Alexandria Real Estate Equities, Inc. Announces Public Offering of Senior Notes

PASADENA, Calif., Feb. 3, 2021 /PRNewswire/ — Alexandria Real Estate Equities, Inc. (“Alexandria” or the “Company”) (NYSE: ARE) today announced that it is commencing an underwritten public offering, subject to market conditions, of two tranches of senior notes (the “notes”). Goldman Sachs & Co. LLC, BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC will act as joint book-running managers in connection with the public offering. The notes will be unsecured obligations of the Company and fully and unconditionally guaranteed by Alexandria Real Estate Equities, L.P., an indirectly 100{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} owned subsidiary of the Company.

The Company expects the net proceeds from the first tranche in this offering will be used initially to repurchase or redeem any and all of the Company’s outstanding 4.000{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} senior notes due 2024 (the “2024 notes”) pursuant to a tender offer announced separately today (the “tender offer”), by redemption or otherwise. The Company expects to use the remainder of these proceeds, if any, for general corporate purposes, which may include the reduction of the outstanding balance on the Company’s unsecured senior line of credit, if any, the reduction of the outstanding indebtedness under the Company’s commercial paper program, if any, the repayment of

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Brookfield Is Done Waiting on the Public Real Estate Markets

Brookfield Asset Management (NYSE: BAM) believes it owns a highly valuable global real estate portfolio. However, the public stock market has never given Brookfield full credit for the value it sees in its real estate. That’s led it to try various methods aimed at unlocking this value, which so far hasn’t had the desired effect. Public market investors continue to focus on the short-term headwinds while Brookfield looks at the longer-term potential.

After years of fruitless efforts to get the public market to see what it sees in its real estate portfolio, it’s taking matters into its own hands. It’s doing that by proposing to take its two publicly traded real estate affiliates, Brookfield Property Partners (NASDAQ: BPY) and Brookfield Property REIT (NASDAQ: BPYU), private. That way, it can have even greater flexibility to realize the value of its real estate assets.

What Brookfield sees that others don’t

Brookfield has spent years trying to unlock the value of its vast global real estate portfolio. The leading alternative asset manager has sold properties to showcase the massive gap between their private market value (i.e., what institutional investors will pay for the assets) and the value ascribed to them by the public

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Private And Public Measures To Combat Pandemic Risk In Commercial Real Estate

Polk Properties offers over 30 yrs of Real Estate Vision and Expertise you can trust and depend on. We focus on long-range portfolio value. 

As we ponder the fate of business enterprises going forward, I believe in order to relieve the public’s concerns, ensuring the safety of properties is paramount. It is possible that as businesses open and optimism builds, another outbreak could create a similar experience to what we’ve seen with the Covid-19 pandemic. 

Among my functions in real estate is to procure tenants for real property. This is always a challenge. You have to present a lease transaction that has a great likelihood of success for the duration of the lease term.

We have all quickly adapted to changing social norms, and we have an abundance of clean hands to show for it. So if a pandemic should happen again, we might not be caught so unawares next time. In the meantime, we are in unknown territory now that tenants are navigating new and ongoing safety protocols with some confusion as to where the authority for these protocols lies. It is a combination of authority on local, state and federal levels. What often develops out of confusion

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MGHC Celebrates 25 Years Of Education And Service With Online Public Gardening Class

The Master Gardeners of Hamilton County, in association with the University of Tennessee

Extension, continue their third Saturday free public gardening classes in 2021. Presented online via Zoom during the pandemic, the first class takes place this Saturday at 10 a.m., with “IkebanaMoribana: The Art of Japanese Flower Arranging” presented by Master Gardener Janet Jobe.

The Zoom link to access this public class is available on the MGHC website.

Master Gardener Jobe said, “Ikebana (‘making flowers alive’) is the Japanese art of flower

arranging, a tradition that began with floral offerings made for religious purposes and later became

decorative additions to traditional Japanese homes. Moribana (‘piled up flowers’) is one of the

expressions of this art, combining several clusters in natural-looking shapes and a mound of beautiful flowers to create a naturalistic landscape complementing the different seasons.

“My presentation will show the variety of containers and flowers that can be used as well as how the various design forms – upright, slanting and cascading – are used to create a beautiful and harmonious display. I hope people will discover that with a few flowers and a basic Ikebana technique, you can create a lovely, inspiring

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