News
An Intelligent iMerger
May 15, 2012
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| Last week we caught up with Gary Brandeis, formerly of FB Capital Partners, who tells us FB Capital and GPX Realty have merged to form iBuilding Realty Partners. Gary will be steering the ship as president, and the name of the game will be the acquisition and repositioning of commercial and multifamily sites. As the partnership's name suggests, iBuilding is particularly proud of its smart-tech angle, and that's where Gary's experience in the IT space comes in: Back in '99, Gary ran a national real estate technology initiative for Lincoln Property Group. "My job was to figure out how to use the Internet to make [LPG's] business better," he says. His office created a web-based building platform called PropertyLogic, and Gary became something of a real estate tech expert in the process. |
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| The goal this time around, Gary tells us, is energy conservation. iBuilding, for instance, uses a suite of Internet management technologies to automate and monitor property tasks that are generally handled the old-fashioned way. Ultimately the iBuilding business model is one of efficiency, Gary adds. And considering the new firm's combined buying power—FB owns a $100M portfolio, including the legendary Turk's Head building in Providence (above), while GPX owns 1M SF of commercial and residential—iBuilding will definitely be worth watching. |
