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NavigateAI, a US startup founded by former Opendoor leader Eric Wu, has raised $25 million in seed funding at a $225 million valuation. The company develops AI assistants for construction workers that operate via smartphones and Meta AI glasses in hands-free mode. Workers can point cameras at installations to verify correct assembly, torque specifications, and building code compliance. The system accesses design specifications, manufacturer instructions, and internal company rules in real time. Elad Gil led the round, with participation from Khosla Ventures, Fifth Wall, and executives from DoorDash, Instacart, and Coinbase. The US construction industry faces a shortage of approximately 349,000 workers this year, according to Associated Builders and Contractors, with large data centre projects now requiring up to 5,000 workers.

Tishman Speyer's TS Plus acquires Rise a 376-apartment community in Anaheim. September 2, 2026 Tishman Speyer announced its acquisition of Rise, a multifamily community encompassing 376 market-rate apartments in Anaheim's Platinum Triangle District. Tishman Speyer acquired the 340,000-square-foot residential property on behalf of its TS Plus fund. The purchase was financed in part by an $88 million loan through Freddie Mac. Completed in 2020 and currently 95 percent leased, Rise offers luxury apartments ranging from studios to three bedrooms and features an expansive resident amenity package. Rise marks the sixth acquisition for TS Plus, Tishman Speyer's core plus fund, which has secured $1.08 billion in commitments to date. The firm's TS Plus portfolio also includes industrial properties in Northern California and South Florida, as well as residential communities in Chicago, Dallas, Raleigh, Charlotte, and Montclair, NJ. "Rise represents a compelling addition to TS Plus within an Orange County market that continues to transform through public and private investment and is seeing a material reduction in new supply," said Tishman Speyer Managing Director Matthew Friedman. "We saw an attractive opportunity to acquire a high-quality, well-leased asset at a significant discount to replacement cost." Located at 1910 South Union Street, Rise is part of an 820-acre master planned district anchored by the Honda Center, Angel Stadium, and ARTIC train station. Situated at the convergence of three major freeways, Rise provides convenient access to major Orange County and Los Angeles employment hubs and popular attractions such as Disneyland. Rise offers residents a wide range of amenities, including a fitness center, outdoor pool, spa, BBQ areas, and co-working lounge. A new roof deck was completed in late 2025, featuring a variety of seating options and a pickleball court. Tishman Speyer will undertake a series of targeted enhancements to the property's amenities and exterior. Since its first investments in the residential sector in 1989, Tishman Speyer has acquired and developed approximately 30,000 rental apartments and for sale condominiums across the United States, Brazil, Asia and Europe. Since 2023 Tishman Speyer has acquired approximately 3,800 units across 13 residential communities in three countries and ten states. Tishman Speyer has also commenced or completed construction on approximately 4,100 rental apartments during this same period and has 7,400 units total currently in its residential development pipeline. CBRE Executive Vice Presidents Rachel Parsons and Derrek Ostrzyzek, together with First Vice President Mike Murphy and Senior Associate Kenji Thomas, arranged the transaction. Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in approximately 40 key markets across the United States, Europe, Asia and Latin America. Its portfolio spans market rate and affordable residential communities, premier office properties and retail spaces, industrial and data center facilities, mixed-use campuses, and real estate credit investments. Yield PRO create state-of-the-art life science centers through its Breakthrough Properties joint venture, and foster innovation through its strategic proptech investments. With global vision, on-the-ground expertise and a personalized approach, Yield PRO foster innovation, quickly adapt to global and local trends and proactively anticipate its customers' evolving needs. By embedding health and wellness, enlightened placemaking and customer-focused initiatives such as its tenant amenities platform, ZO, and its flexible space and co-working brand, Studio, into its buildings, Yield PRO enhance the experience of the people who work and live there. Since its inception in 1978, Tishman Speyer has acquired, developed, and operated 606 properties, totaling 240 million square feet, with a combined value of approximately $137 billion (U.S.). Its current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt, and the Mission Rock neighborhood currently being realized in San Francisco.

Tishman Speyer moves to sell 6 Grand Central office. Firm marketing ground lease of Midtown property for $450M While one prominent office development goes up around Grand Central Terminal, Tishman Speyer is preparing to sell another. Rob Speyer is marketing the fee simple interest in 6 Grand Central, formerly known as 666 Third Avenue, for an asking price around $450 million, the Commercial Observer reported. That would break down to about $584 per square foot for the 770,000-square-foot office building. Tishman declined to comment on the offering. Eastdil Secured's Gary Phillips and Will Silverman are leading marketing efforts. The property at the corner of Third Avenue and East 42nd Street directly connects to Grand Central Terminal, one of the few postwar buildings to do so. Tishman acquired the property in 1998. It last tried to sell the Class A office tower back in 2019, but didn't make a deal. Three years later, it renovated the property and refinanced the debt with a $185 million loan from Bank of America, replacing a 2012 loan of $265 million from Morgan Stanley Mortgage Capital. Tenants at the building include investment manager VanEck, the Consulate General of the Netherlands, law firm Mintz Levin and health care logistics firm Strata Critical. There's also Studio Grand Central, which offers coworking spaces, private offices and meeting rooms. The listing may be part of a broader strategy for Tishman, particularly on the heels of another sale this year. In February, Delshah Capital and A.M. Property Holding Corporation entered into contract to buy the CitySpire office tower in the Plaza District from Tishman Speyer and GIC. The 70-story, 377,000-square-foot, 98 percent leased office building at 156 West 56th Street was being sold for $135.7 million, equating to $360 per square foot. It's an interesting moment to try and sell office space by Grand Central Terminal, considering what may soon be coming to the submarket: BXP recently secured a $1.2 billion construction loan led by Wells Fargo for a 930,000-square-foot office development at 343 Madison Avenue, which is slated to open in 2029.