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SPAC slowdown, SmartRent strikes a $2.2B deal


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SPAC slowdown, SmartRent strikes a $2.2B deal
Plus, “Smart store” startup targets apartment living
National /
SPAC deals are drying up amid mounting questions from regulators.
After a record 109 SPAC deals in March, there have been just 10 this month, according to SPAC Research. Proptech is no exception, with 15 new SPACs in February followed by 16 in March and just one so far in April, according to
TRD’sSPAC tracker. (Fifth Wall Ventures is aiming to raise $250 million for its third SPAC.) ....

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Proptech's Influence on Home Construction, Listings, Closing and Selling,


Listings
With the M&A market for listings services heating up, eyeballs are worth a lot more than they used to be.
CoStar bought national search portal Homesnap for $250 million in November, pitting the CRE data giant against Zillow, Realtor.com and others in the residential game. CoStar also tried to buy CoreLogic and RentPath these past few months but failed in part due to scrutiny from the Federal Trade Commission.
But CoStar’s loss was Redfin’s gain: The real estate brokerage nabbed RentPath for $608 million in cash in April, expanding its presence in the rental market and bringing the millions of users on Rent.com, ApartmentGuide.com and Rentals.com under its control by 2022. Barely a week after Redfin closed on the deal, CoStar announced it was buying listings portal Homes.com for $156 million in cash. ....

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