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What SmartRent's $2.2B SPAC means for multifamily

26 days ago   |   By The Real Deal New York

As pandemic-challenged apartment landlords scrambled to cut costs, SmartRent CEO Lucas Haldeman's phone lit up. The owners were eager to adopt the four-year-old firm's operating platform, which lets them automate building operations such as climate control and door locks. To meet the demand and beef up its product offerings, SmartRent announced a deal Thursday to go public with a blank-check firm backed by proptech VC firm Fifth Wall. The deal values SmartRent at $2.2 billion
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