#USA #New York #CBRE #ServiceTitan #Fifth Wall

Fifth Wall Concludes 2024 with Major Developments

Fifth Wall, a prominent player at the crossroads of real estate and technology, wrapped up 2024 with impressive momentum. In January 2025, the firm unveiled its new Flagship Fund, supported by a diverse coalition of Limited Partners (LPs), including major names such as Lowe's, Public Storage, Ryman Hospitality Properties, and Federal Realty Investment Trust among others. With this fund, Fifth Wall intends to further solidify its influence in the PropTech sector, which has gained considerable attention and investment in recent years.

The conclusion of the year also marked a significant milestone for Fifth Wall with ServiceTitan, one of its largest investments, successfully going public, achieving a valuation of $9 billion during its Seventh IPO. This successful exit demonstrates Fifth Wall's keen ability to spot and nurture promising tech firms at the intersection of real estate and technology, enabling them to thrive in the marketplace. Additionally, on January 14, CBRE, a long-time supporter of Fifth Wall, completed an acquisition of Industrious, showcasing ongoing confidence in beyond investments and collaborations fostering sustained growth.

Brendan Wallace, CEO and Chief Investment Officer of Fifth Wall, expressed optimism about the upward momentum in PropTech, pointedly seeing the recent developments as validation of Fifth Wall's strategy. He commented, “Fifth Wall's previous Flagship Fund was our most successful yet, facilitating significant investments in numerous successful PropTech ventures.” This underscores the firm's knack for responding to market trends and cultivating strategic relationships that yield fruitful results.

In addition to the capital influx and successful IPOs, Fifth Wall expanded its leadership team. Jeremy Fox and Magnus Vik have both been promoted to Co-Presidents. Fox, leveraging his experience from Credit Suisse, will focus on enhancing relationships with the firm's vast network of over 110 strategic LPs. Vik, who joined Fifth Wall in 2020 with a background in prominent tech and investment firms, will manage operations across the firm’s various offices.

The launch of the newest Flagship Fund also signifies intentions to entice existing and new investors. Joining Fifth Wall's extensive list of partners are fresh strategic investors eager to make an impact in the rapidly evolving tech landscape. Mark Fioravanti, President and CEO of Ryman Hospitality Properties, praised the alliance, stating, “We believe Fifth Wall's mission aligns with our strategic priorities, providing us exposure to critical software and technology for future growth.”

Fifth Wall’s continued dedication to innovation is relentless, aiming to integrate technology solutions that enhance productivity and sustainability within the built environment. Leonidas Canellopoulos, Chief Sustainability & Innovation Officer of TITAN Group—another new strategic partner—stated, “By partnering with Fifth Wall, we reinforce our commitment to sustainability through technology.”

Throughout 2024, Fifth Wall influenced various beneficial developments within its portfolio, notably facilitating over 60 strategic partnerships between LPs and portfolio companies and generating over $18 million in revenue for companies connected to the firm through real estate engagements. These outcomes position Fifth Wall not merely as a financier, but also as a catalyst for broader market success.

Founded in Los Angeles and now headquartered in New York City, Fifth Wall spans a global presence with additional offices in San Francisco, London, and Singapore. Backed by $3 billion in commitments and capital under management, the firm continues to maintain an extensive network of reputable partners within the industry, such as BNP Paribas Real Estate, MGM Resorts, and Marriott International. As the firm navigates the exciting possibilities ahead in 2025, it remains committed to shaping and transforming real estate tech through strategic investments and partnerships.