The Rise of Smart Buildings and How Technology Can Shape the Future of CRE

Technological advancements have permeated all aspects of our lives: our cars, our entertainment, our appliances, and now, even our buildings. Smart buildings are the latest popular commercial real estate trend, and this trend is here to stay. But first, what exactly are smart buildings? This type of structure utilizes technology in order to improve the building’s efficiency and to better streamline its operations. Think smart thermostats, light bulbs, security systems, speakers, plugs, or HVAC systems. These buildings can include homes, office buildings, hospitals and more.

Smart buildings are CRE opportunities that GPs need to know about — and take advantage of. Here, we’ll dive into the advantages smart buildings can bring to the table and how they can help your bottom line.

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The Benefits of Investing in a Smart Building

One of the most important advantages of smart buildings is they assist in reducing energy consumption. Smart technology can manage the building’s energy usage, and automatically adjust building systems, like HVAC and lighting, in order to save energy, especially when the building is unoccupied or during non-peak times. Smart thermostats alone can reduce HVAC use in commercial buildings by 30%.

Not only can smart technology reduce energy consumption, but it also allows for predictive maintenance solutions. Take the guesswork out of building maintenance. With smart tech, you don’t have to keep track of when to replace light bulbs or when to schedule appliance or equipment maintenance. These will instead be scheduled automatically, freeing up your time to focus on your CRE investments.

In addition to helping the environment, investing in smart technologies for your commercial buildings is financially beneficial. Lower energy consumption results in lower costs, which is something you and your investors will certainly appreciate.

Smart buildings lead to more operational efficiency. Typically AI-powered, smart technologies can allow for remote access, making it easy for multiple members of your CRE firm to access the building as needed. This can also help enhance the security of your building by ensuring there is no unauthorized access, or, if there is, ensuring that emergency services are notified immediately.

Smart Buildings are Here to Stay — Are You Prepared?

There are several factors driving the rise in smart building implementation. As urban centers expand and population grows, there’s a higher need for energy efficient buildings with streamlined operations. AI and technological advancements are also driving the growth of smart building construction, as is the increase of sustainability practices due to eco-friendly state and federal regulations.

Smart building construction is only going to continue, so you need to ensure you’re prepared. Covercy can help you organize your transaction details so you can focus on boosting your bottom line. With our innovative investment management platform, you can expect improved communication, simplified processes, and enhanced investor engagement.

Our platform offers a comprehensive investor portal where you can communicate with LPs, view transaction history, share secure documents, and more. In addition, our software is unique because it has fully integrated banking features that allow you to make and receive secure transactions, as well as simplify complex distribution payments.

Technology is the way of the future, and Covercy is fully prepared to help you stay ahead of the curve. We recently launched innovative AI-driven capabilities to help you take more control of your CRE management. Our AI-tools will help you write reports for investors, emails to LPs, and more, including giving you valuable insights about your portfolio.

As a GP, you need to ensure you’ve got the right tools at hand to better streamline and manage your CRE investments. Covercy can help. Are you ready to see how to maximize your smart building transaction? Book a free demo today and see how Covercy can help you.