Overview

Technology is transforming the way companies use, manage and maintain their real estate portfolios. Mayer Brown is well-equipped to provide cutting-edge advice to real estate stakeholders who are leveraging proptech solutions.

Our in-depth understanding of technology transactions to secure high-value contracts, improve operations, build digital platforms and ensure compliance is underscored by our Real Estate Markets lawyers who understand the interwoven ownership, management and operational aspects of the industry. Our integrated team advises our clients as they formulate and drive strategic business and legal decisions.

While proptech services tend to look and feel a lot like traditional service contracts, many now possess technology attributes that give them a fundamentally different risk profile. These attributes are increasing the importance of technology for all stakeholders, including investors, owners, developers, asset managers, landlords and tenants. Potential legal issues include:

Data Rights, Use, Privacy and Protections

Data analytics
Data licensing and rights
Data privacy and security
Compliance obligations

Connected Devices (IoT)

Secondary use of data
Technology challenges
Security concerns
Liability and regulatory oversight

Facilities and Transactional Real Estate Services

Pricing models’ impact on contract terms
Liability and indemnification
Ownership of IP and materials
Exit protections

Smart Contracts in Real Estate Transactions

Technology and related contracts should not be an afterthought
Maximizing value of a smart building or portfolio
Use and integrating smart buildings
Blockchain, AI, Cryptocurrency, Apps and APIs

Experience

Represented a multinational hospitality company in the agreement for the development and support that would extend its "digital lobby" strategy by enabling guests to unlock their hotel room door using their smartphone, which, when combined with other automation features, would allow guests to bypass the hotel front desk altogether.
Represented a major real estate development and management firm in connection with a broad range of technology transactions, including cutting-edge technology deployment engagement tools and smart building initiatives.
Represented a trading company in a first-of-its-kind tokenized REIT offering for an off-campus student housing high-rise building. In addition to the formation documents and PPM, we advised our client on the technology platform documents, technology subscription agreement, participation agreement with the trading company’s cryptocurrency exchange arm and the blockchain security agreement.

Represented a real estate private equity firm in connection with an equity investment in a Mexican company that is in the business of listing, management, and lease collections of third-party residential units in Mexico through the use of technology.
Provided advice to a leading property investment, management and development company regarding the collection of data through WiFi enabled devices for data analytics purposes.
Advised the property management company of a high-end shopping mall in Hong Kong on drafting an agreement for the use of a consolidated self-ordering kiosk and app for the placement of orders at the shopping mall’s food court.
Advised a shopping mall in Hong Kong on the operation of an ecommerce platform for both online shopping and online-to-offline business.
Advised a leading property developer in Hong Kong on a Software as a Service Agreement with an enterprise platform for the provision of a software solution for lease management and providing data privacy advice on the transfer of personal data of the property developers’ lessees.