I promised a while back to properly introduce my new business, Lerner Associates, and I try to keep my promises, so here goes...
In a nutshell, Lerner Associates is an M&A Advisory practice with a focus on Real Estate Technology.
It’s no secret that the global real estate industry, in all its sectors, has seen a huge boom in the adoption of technology in recent years in what is a fundamental change to the way the industry will develop. Along with that, or arguably the cause of that, has been the surge of startup PropTech companies. Estimates vary, however no will argue that there are 000’s of software companies out there providing point, platform, and in some cases end-to-end, solutions to the industry.
It is also no secret that there is huge investment pouring into the real estate tech industry from institutional funding through to family offices and angels. This is at all levels from early and seed stage through to Series A->, growth and beyond. Whether it’s Private Equity or Venture Capital funding or strategic industry investment from established tech players and real estate companies in the space, there is $B’s currently being invested in PropTech. A quick look at recent reports and articles by Bisnow, CRETech, Propmodo and many others will show that there is huge investment interest and available capital. ‘PropTech is the new FinTech’ is something often heard.
Given these trends, what we are now seeing is a combination of the following:
1) Consolidation of PropTech companies/products/solutions – a natural evolution but also in a bid to get to that end-to-end solution proposition
2) Emerging frontrunners out of the original PropTech boom now looking at either exit, next lifecycle stage/growth funding as part of their long term strategy, a desire to release some equity, or effect a major organisational/structural change such as a MBO
3) Private Equity and later stage Venture Capital firms, as well as existing established software platforms looking to acquire or invest in PropTech businesses either as an investment where they can create value, or as part of a wider growth strategy be it market share, breadth of solutions, geographic expansion etc...
Lerner Associates was created to support PropTechs and both strategic and institutional investors by bringing these people together and successfully seeing through corporate transactions. This can be through any or a mix of origination, introduction, brokerage, negotiation, due diligence, investment memorandum preparation, buyer selection and corporate finance. Through years of experience in the sector, strategically, operationally and in M&A, together with our deep industry knowledge and network, we are best placed to be the Advisors of choice.
These are exciting times…