Lowenstein Sandler represented VTS, the commercial real estate industry’s leading technology platform that transforms how strategic decisions are made and executed across the asset lifecycle, in a Series E funding round totaling over $125 million. The funding round is led by existing VTS customer and investor CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm, which is providing $100 million of capital and will join VTS’ Board of Directors. Other investors include BentallGreenOak, AmTrust, Brookfield Ventures, and Insight Venture Partners, among others.
In addition to its capital investment, CBRE will partner with VTS to roll out the VTS Platform, with unique enhancements and integrations, as the technology platform of choice for its agency leasing and property management teams starting in the U.S. This partnership deepens the existing relationship between VTS and CBRE and underscores CBRE’s commitment to giving its brokers and property managers a competitive advantage through innovative technology.
The VTS Platform is now used by 19 of the 20 largest global asset managers, and over 300,000 tenant companies are managed throughout the platform, making it the most widely utilized software in commercial real estate. In 2021, the VTS Platform executed over $31 billion of leases, with over 2 billion square feet of assets added. The latest funding round comes as VTS also recently secured $150 million in debt financing from Canadian-based CIBC Innovation Banking, totaling $275 million in new funding.
The Lowenstein deal team included Anthony O. Pergola, Alex D. Leibowitz, Doreen M. Edelman, Darren Goodman, Zarema A. Jaramillo, Eric Jesse, Mark P. Kesslen, Brian A. Silikovitz, Samantha Fox, Juan B. Soto, Bryan Sterba, Kristin V. Taylor, Batool T. Banker, Sara Uz, Megan Williams, Chynara Tolubaeva, and Ed Zimmerman.
About Lowenstein Sandler LLP
Lowenstein Sandler LLP is a national law firm with over 350 lawyers based in New York, Palo Alto, New Jersey, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.