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SmartRent Plans to Go Public Via a SPAC With Fifth Wall

The SPAC has raised about $345 million since going public last year, according to a Wall Street Journal report. SPAC investors will be joined by a $155 million PIPE investment, made up of some of the biggest names in real estate: single-family rental giant Invitation Homes, real-estate investor Starwood Capital, and construction giant Lennar. The Journal is also reporting that world s largest landlord, Blackstone, is part of the deal. SmartRent combines smart-home technology with a software operating system that allows landlords and property managers of single-family and multifamily portfolios to remotely monitor energy use and efficiency, let prospective tenants take self-guided tours, and monitor building systems for leaks and other risks. Tenants are also able to monitor many of these things themselves through SmartRent s apps and voice assistants.

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