June 30, 2023
Prophia team members attended the 23rd Annual U.S. Real Estate Opportunity & Private Fund Investing Forum, organized by IMN. The conference this year took place in beautiful Newport, Rhode Island from June 21st to June 23rd. The conference brought together some of the largest real estate private equity funds, LPs, as well as a wide range of service providers to discuss the latest challenges and opportunities in the CRE market.
Panels throughout the three-day event explored fund structuring, macroeconomics, disposition trends, regulatory and tax considerations, the latest innovations in technology and more. There were over 700 delegates in attendance and over 100 panelists, including Prophia’s own CEO and Co-Founder, Cameron Steele.
Prophia’s presence at the IMN conference this year was not a surprise. The technology solution has only been growing in recent years, successfully securing Series A funding in 2022 and devoting the first half of 2023 to growing the team. This commitment to growth, providing a best-in-class technology solution for hardworking individuals in CRE, has made Prophia, not just a startup to watch, but one capable of changing the way CRE teams manage existing assets in their portfolio and positively influence ROI through acquisitions and dispositions.
On Cameron’s panel, the focus of the discussion centered around the future of acquisition, specifically, navigating deal processes swiftly to stay ahead of market fluctuations and downtime, which can be particularly costly in a slow market.
“Hiring 30 people to sit in a room for a week or two and do due diligence for you is yesterday’s game. We’re seeing more innovative, forward-thinking groups looking to modernize their due diligence.”
This is just one of the ways Prophia customers are integrating technology into the deal-generating strategies that have a profound impact on portfolio ROI. In addition to saving these individuals valuable time on CRE tasks like lease abstracting and reporting generation, Prophia’s due diligence use cases are proving to be an asset in both acquisition and disposition strategies in markets with suppressed capital activity.
“People want to shorten the lifecycle and work associated with doing diligence, particularly when it comes to the leasing activity and contractual obligations. They also want to de-risk it, and make sure they aren’t missing anything. So we’re seeing more interest in technologies, like Prophia, that can help in this area.”
If your team still encounters any efficiency roadblocks performing due diligence, Prophia can help.
Find out more about how innovative firms like Nuveen and RXR use Prophia to expedite CRE tasks, improve portfolio performance, and request a demo with our team today.