CBRE Buys Floored

CBRE Group, the nation’s leading manager of commercial properties, has acquired Floored, Inc., a New York-based producer of SaaS (Software as a Service) solutions, including scalable, interactive 3D graphics technology, for the global commercial real estate industry.  Floored gives CBRE’s professionals and clients access to advanced technology, and significantly increases the company’s capabilities to develop technology innovations that enhance marketing and leasing of commercial properties.

The terms of the acquisition weren’t released.

“We are very excited to add Floored’s interactive 3D graphics to our growing suite of technology tools,” said Chandra Dhandapani, CBRE’s Chief Digital & Technology Officer. “Many of our leading professionals and clients have been using Floored technology and are very excited about their solutions. It gives our professionals a powerful advantage in the marketplace, enabling them to configure, visualize and compare vacant space and arrange virtual tours.  Our clients will continue to have access to these, and future, powerful products.”

Floored’s two main existing SaaS products are:

  • Protofit, which allows users to visualize and edit floor plans in 2D and 3D (including accurate external window views from each floor) and to create customized space layouts in real-time.  Protofit, which is being rebranded as Floored Plans, has been utilized in over 65 million sq. ft. of properties.
  • Luma, which enables a high-quality, interactive, next-generation customized 3D “walk-through” experience for new, unbuilt and repositioned spaces. This technology has been used to visualize space from project concept and design all the way through leasing and marketing efforts and is now being re-branded as Floored Build.

The products are used by property owners like Related, Equity Office, Hines and Beacon Capital.

Floored’s co-founders – Chief Executive Officer David Eisenberg, Chief Technology Officer Dustin Byrne and Vice President of Engineering Judy He – and their 36-person team of engineers, designers, 3D modelers and client support personnel will all join CBRE as part of the acquisition. Mr. Eisenberg will serve as SVP of Digital Enablement & Technology for CBRE’s leasing business (called Advisory & Transaction Services).

“We look forward to working with Dave, Dustin, Judy and their incredibly talented team to develop other innovative capabilities to enable exceptional outcomes for our clients. This will also give us momentum in tapping into the New York digital talent base,” Ms. Dhandapani said.

“We have worked very hard over the past four years to invent groundbreaking technology for commercial real estate,” said Mr. Eisenberg. “We couldn’t be more excited to bring this innovation to the industry’s premier, globally integrated commercial real estate services and investment firm. Together we will build powerful advantages for CBRE’s clients.”