Blackstone Group’s real estate branch announced it’s dropping $3.3M to buy stake in three-year-old tech company VTS, formerly View The Space.
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Stephen Schwarzman
The deal, which reportedly values VTS at $35M, is one of a few investments the company has made in startups that provide products it uses a lot. VTS, launched in 2013, has since become valuable to landlords and brokers who want to track leasing data and performance in real time. VTS CEO Nick Romito says the company is tracking over 1B SF in the US and internationally, and he expects that number to double by the end of the year. Other Blackstone investments include CloudTheory, Cylance and iSight.
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