Colliers | August 08, 2022
Leading diversified professional services and investment management company, Colliers (NASDAQ, TSX: CIGI), announced today it has acquired a controlling interest in PEAKURBAN Pty Limited (“PEAKURBAN”), one of the fastest growing engineering companies in Australia. The PEAKURBAN senior leadership team will remain significant shareholders of the business under Colliers’ unique partnership model. The business will rebrand as “Colliers Engineering & Design” and integrate into Colliers’ existing Australian operations. Terms of the transaction were not disclosed.
Founded in 2016, with more than 100 professionals operating from five offices in Australia, PEAKURBAN specializes in shaping communities with a focus on planning, due diligence, and engineering and design services for residential and mixed-use developments, civil infrastructure, water and wastewater, and industrial sectors.
“Building on our continued success in the U.S., PEAKURBAN represents the first international acquisition for our Colliers Engineering & Design business, Our differentiated approach continues to attract best-in-class firms who value our unique partnership model and long-term growth horizon, and who wish to thrive within our decentralised model and enterprising culture.”
-Elias Mulamoottil, Co-Chief Investment Officer of Colliers.
The expansion of Colliers Engineering & Design into Australia will complement our existing Project Management and Strategic Advisory capability and enhance our service offerings to unlock opportunities and accelerate growth for our clients and people, said John Kenny, CEO Colliers Asia Pacific. PEAKURBAN’s values and culture align strongly with ours and we are delighted to welcome these talented professionals to our organisation.
"Joining one of the most respected professional services organizations globally is an important step for us, Our reputation for developing commercially smart and practical engineering and planning solutions, combined with Colliers’ deep infrastructure, enterprising culture and impressive performance over many years, will help create the best outcomes for our clients and people.”
-Brent Thomas, Co-Founder and Managing Director of PEAKURBAN.
Colliers is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $77 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people.
Foresite | July 26, 2022
Foresite Technology Solutions, LLC, a Software-as-a-Service (SaaS) construction company, today announced a partnership with Lilt, the leading global experience platform, to integrate multilingual content into Foresite's platform for increased accessibility and improved Foresite user experience.
With this new capability, Foresite seeks to eliminate the barriers that foreign language can have in communication-based safety issues in construction. A 2019 report from the American Council on the Teaching of Foreign Languages highlights the importance of multilingual capabilities in construction, reporting that 42% of construction industry employers rely heavily on employees for whom English is a second or third language.
Foresite solves some of the biggest challenges builders and trade contractors face, including increasing productivity, safety, and efficiency at the jobsite, while supporting upskilling of the labor force with learning in the flow of work. With the integration of Lilt, Foresite incorporates cost-effective multilingual content to support its efforts to break down language barriers, an imperative software capability in the construction industry.
"From the start, we envisioned Foresite as the open platform of choice, connecting strategic partners to drive innovation for our customers, Our partnership with Lilt highlights how we use leading technology partners, such as Lilt, to improve the construction industry labor force with multilingual upskilling content. This partnership represents the leading edge of our strategy to reimagine and re-equip the labor force and bring a range of partners to the Foresite ecosystem."
-John Gillett, founder and CEO of Foresite.
Lilt leverages experienced human linguists and its AI-powered platform to translate websites, product manuals, compliance materials, technical documentation, e-learning content, and more for their customers, providing end-to-end multilingual support. The Lilt platform utilizes AI and automation to maintain quality and keep margin of error to a minimum.
"Foresite recognizes that the elimination of language barriers reduces risk, increases safety, and empowers employees, We started Lilt to increase access to opportunity for all, and we're inspired to join Foresite in this important work for the construction industry."
-Spence Green, CEO of Lilt.
Beyond the advanced Lilt technology, employing highly educated, experienced translators improves consistency in the Lilt product and services for their customers. Lilt works with diverse enterprise customers across the construction industry, translating content such as on-site construction e-learning content, supply chain visibility platform information, and app-based risk management product information, and it will bring this experience to bear in this new partnership with Foresite.
Foresite is an innovative and transformative construction platform built on 25 years of intellectual property and industry knowledge. The platform provides intelligent gross margin management for field operations, serving builders, trade contractors, manufacturers, and insurers, in addition to unprecedented control over critical operational processes. Users access preconfigured content-based solutions such as workforce efficiency & productivity, job site logistics, project safety, quality control, and regulatory compliance, rapidly driving process optimization at the jobsite.
Headquartered in San Francisco, Lilt is the leading global experience platform, enabling organizations to build and deliver multilingual experiences at scale across every step of the global customer journey through its translation technology and services. The Lilt Platform uses AI and automation to make the localization process faster, better, and simpler, bringing human-powered, technology-assisted translations to global enterprises. Lilt gives industry-leading organizations like Intel, ASICS, Emerson, UiPath, and Canva everything they need to scale their global experience programs and go-to-market faster. Lilt has additional global offices across North America, Europe, and Asia.
Built | July 08, 2022
Built Technologies (Built), the fastest growing construction finance platform in the U.S., today announced Project Pro, the first-of-its-kind contractor management and project monitoring solution for lenders. Construction lenders around the world are limited in their ability to monitor and manage the risks of their construction portfolio. They often lack specialized tools built for construction financing that provide actionable insights, and in many cases this situation prevents them from keeping money moving smoothly throughout the ecosystem of stakeholders. Built’s Project Pro, available today, changes this paradigm for lenders from reactive to proactive.
Construction financing is inherently risky. Compounding that is the fact that lenders typically don’t have visibility into the project status and contractor performance that would help them manage many risks. Project Pro aggregates vital information in one place to allow construction lenders to understand and proactively manage risks and their associated costs more effectively. The net result is less risk and a better client experience.
“By providing our lender partners a proactive solution to monitor and manage key risks associated with construction lending, they can scale their business with confidence, We are streamlining the entire loan and construction lifecycle for lenders and improving their returns.”
Brent Blane, General Manager, Built Marketplace
Project Pro aggregates and allows for the evaluation of critical information about the loan and the status of the project, which can be used to improve decision making and help a project come to a successful conclusion. The product consists of three main capabilities that include:
Contractor Management simplifies the manual work of managing contractors and makes it easier to achieve compliance through the automation of important procedures. These processes include the collection of required documentation and relevant data, along with reporting for at-risk contractor characteristics. Built based on lessons learned working with major construction lenders, this offering fully integrates the process of reviewing, tracking, and maintaining a roster of contractors, including the creation of Contractor Acceptance agreements.
Project Monitoring allows lenders to fully understand the status and issues facing a project so they can rectify problems before they slow progress or result in non compliance. It serves as an early warning system for construction lenders to identify possible roadblocks and proactively provides notifications when any warning signs appear—including liens filed on the project, changes to the contractors’ business credit, and required project compliance documentation expiration.
The Project Pro Dashboard provides a single source of truth with the most important project information in one view. This brings to the forefront project status, risks, and Construction Loan Administration data such as current/recent draw summaries and project comments along with easily understood graphs and charts. This unified view into every piece of a project, allows lenders to understand the historical and current project status and make decisions based on that information. It saves not only time, but avoids conflicting information and lack of visibility by those who need it.
Project Pro is available through Built Marketplace, a cohesive offering of services that transform the construction loan administration process from a series of unpredictable, reactive tasks into a standardized set of processes and risk monitoring capabilities that helps loan administrators make smarter decisions. Clients interested in learning more about Project Pro or adding to their existing loan administration solution can visit https://getbuilt.com/built-marketplace/project-pro/.
Built is the leading provider of construction finance technology. Built connects commercial and consumer construction lenders, property developers, commercial general contractors, residential homebuilders, specialty contractors, title companies, and other critical industry vendors to improve the flow of capital through the construction ecosystem. By connecting all key stakeholders involved in the construction financing process in real-time, the Built platform helps mitigate risk, power faster draws and payments, ensure compliance, and inspire customer loyalty. Built is used by more than 190 of the leading U.S. & Canadian construction lenders and thousands of developers and contractors.