Lincoln Property Company, one of the largest real estate firms in the US, has acquired a stake in workplace experience firm Equiem.
Owning and managing more than 400 million sq ft of office space, LPC said it sees tenant engagement and in-building tech experience as critical to the future of the office.
The need for a “comprehensive digital experience” that would encompass tenant relationships, communication and data would become even more important post-Covid, it added.
Although the companies did not reveal the details of the deal, LPC said it plans to use Equiem as a solution to its “various partnerships and services.”
Eric Roseman, vice president of innovation and technology ventures at LPC, said: “We have worked with many of the tenant engagement providers in the space and were most impressed and delighted with the Equiem experience. We’re excited to continue to expand our adoption of their platform.
“Equiem proved to us their ability to integrate all facets of the building experience into a digital platform, activate communities and generate meaningful data and insights for our leasing and on-site teams.”
For Equiem, the deal is a significant milestone for its expansion in North America – a market where it reported 70% growth in contracted revenues last quarter.
To date, Equiem’s platform, which operates in Australia, the US, the UK, Ireland and Canada, has gone live in more than 500 buildings worldwide across more than 100 million sq ft of real estate space.
Gabrielle McMillan, CEO and co-founder of Equiem, said: “North America is a critical market for Equiem and I’m really pleased with the strong team we’ve built here and the track record for execution we’ve developed.
“There is a lot of noise surrounding ‘real estate tech’ or ‘proptech’, but as landlords are making decisions about the right technology platforms and partners, they are looking to Equiem based on our deep understanding of real estate, global scale and the maturity and depth of our team and platform.”
The deal with LPC comes a month after Equiem entered into a partnership with FTSE 100 landlord British Land. The deal with British Land also saw the landlord sell its property management software platform Vicinitee to Equiem.