News: The Secret Life of Off-Market Commercial Real Estate

What do these properties have in common — a five star luxury hotel in Beirut, Lebanon, a fully entitled development site in Oakland, a 26-unit multi-family building on the beach in Miami? The answer is that they are all for sale, but only if you know someone who knows someone, or if you’re a registered user of a new off-market real estate platform called Brevitas.

San Francisco-based Brevitas, which launched its beta platform last month, is the latest service promising to disrupt the way so-called “off-market” listings are acquired and disposed of. The platform allows qualified buyers to access a pool of private real estate assets that they wouldn’t have access to otherwise.

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Brevitas to join DisruptCRE at MRES 2015

The Brevitas team is excited to be headed to Miami to take part in the Miami Real Estate Symposium & EXPO this year. We will be taking part in the DisruptCRE Technology Village. If you’ll be there, feel free to introduce yourself – we’re going to have some fun surprises and unique giveaways.

The Miami Real Estate Symposium & EXPO with the DisruptCRE Technology village is the perfect way for the Brevitas team to close out their summer (and begin their fall) convention tour.

Miami is a market that Brevitas is focused on and, more importantly, this event reflect us. We respect the institution of real estate and the way things are done, like many of the more traditional vendors at the expo, but also understand the need for improvement in specific areas and are excited to be bringing upgrades to efficiency in the market.

The expanded role that technology companies are taking at real estate conferences is reflective of the sea of change upon the real estate industry. While many companies are still slow to adopt technologies that could improve their work flow, a vast number are, and much of the industry sees the benefits that can be brought from improved technology. It is exciting to head to Miami to join other companies that are changing the face of the industry.

We’ll be expanding on these changes at the Expo as well: our CEO, Ardian Zagari, will be taking the stage to discuss the way technology is improving the commercial real estate industry on an esteemed panel moderated by John Schultz, Founder and Managing Principal of Onyx Equities.

Sure, it’ll be so humid that we’ll break a sweat peeling an orange, but we are very excited to be heading to Miami. Come find us at the technology village, we should be easy to find — we’ll be the team having the most fun.

See you there.

-Jesse Feldman, CMO

Tech Tools Panel

News: A Conversation on Real Estate Tech with Michael Beckerman and Duke Long

A conversation on real estate tech with Michael Beckerman, founder of The News Funnel and Duke Long, influential real estate tech blogger. Find out what these two have to say about the current state of residential and commercial real estate tech sectors.

MB: Hey Duke, hope you had a great summer. Let’s talk a bit about the state of real estate tech. It’s an interesting time in both the residential and commercial sectors.

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Brevitas: Helping Investors Source 1031 Exchange Opportunities

Brevitas is not a tool for the everyday consumer. It is a business tool, often being utilized by commercial real estate’s pre-eminent investors. A big reason why we created Brevitas was to aid investors utilizing 1031 tax deferred exchanges.

If you’re reading this right now, you likely know what a 1031 exchange is. Although, for the uninitiated, a 1031 exchange allows investors to defer capital gains taxes on the sale of a property by reinvesting those funds within in a particular amount of time. This puts a premium on making deals happen quickly.

While I was working in real estate investment I was continually up against the wall trying to make deals happen as efficiently as possible. The 1031 exchange is a powerful and necessary means to build your portfolio and maintain a significant amount of cash to reinvest, but – in order to qualify for a 1031 tax deferred exchange – the amount of time one has to identify a new assets is a little more than a month and a half. We worked with institutional class assets and, most often, these deals are initiated without ever being publicly listed: they are off-market. While we were successful hammering away at the phones and pounding out emails, I knew that there was more room for vast improvement.

In addition, there is a 180-day exchange period in which the next deal must be completed in order to defer the capital gains tax from your last sale. The inefficiencies in completing simple things, like signing confidentiality agreements, caused me serious stress. It was clear that technology could make this a far less harrowing – and far more productive – exercise. If we could do this better, why weren’t we?

That’s where the idea for Brevitas came from.

What if there was a portal online that, along with my current channels, I could utilize to identify new opportunities that I would have never known about otherwise? What if I could execute a confidentiality agreement with the party on the other side of the asset in minutes? It was clear this needed to exist.

So, we built it.

Investors are often working on very serious deadlines and need tools that extend their power and capabilities exponentially. Brevitas exists to do just that.

Brevitas offers new opportunities. Brevitas shortens timelines. Brevitas increases efficiency. Although, most importantly, Brevitas helps close deals.

I am excited every day to see that we are helping individuals from across the industry work smarter, so they can work harder where they really need to and that we are pushing an important economic driver to operate even more efficiently.

-Raymond Pressley, COO