Equiem signs one of New York’s biggest landlords

Equiem signs one of New York’s biggest landlords

13 April 2018

Melbourne-based property technology company Equiem has signed a major deal with one of New York’s biggest landlords, the $19.7 billion Vornado Realty Trust, to install its technology portal in Vornado’s premium properties, reports The Urban Developer.

Under the agreement, Equiem will install its intranet portal in Manhattan’s One Penn Plaza and 90 Park Avenue buildings—two of 88 properties Vornado owns in New York City—with further opportunity to expand into Vornado’s 1.85 million square metres of real estate throughout Manhattan.

It is the second New York deal for Equiem, which late last year signed Adams & Co, the manager of 17 Manhattan buildings, and comes as the Melbourne-based company prepares to expand beyond the eastern seaboard of the US.

Founded in 2011 by Melbourne businessman Lorenz Grollo, Equiem offers portal applications for connecting people in managed properties to an online community through which landlords can offer occupiers anything from free gym classes to discounted coffee and movie tickets.

Neighbourhood vendors also use the portal to offer and coordinate services such as dry-cleaning, car servicing, flowers, meal deliveries, and many others.

“People can order pizza as a collective based on people working late on different floors or in different companies within a building,” says Equiem CEO Gabrielle McMillan. “It creates a true vertical village. Everything about a community comes to life out of this functionality.”

Think Facebook for the users of a building.

Depending on the level of personal information users choose to share, individuals can be identified by floor or office, building role, interest, skill—even by gender and age.

The company, now employs 250 people and services more than 4.8 million square metres of real estate across four countries.

Ms McMillan said the overall expansion both in the US, UK, and the Australian Pacific regions is being driven by a demand to better utilise the ecosystem of a building to enhance employee satisfaction.

“Companies internationally are investing in their employees’ happiness, health and wellbeing. Building owners are realising everyone in their building is a customer and see great value in being able to offer services to attract and retain high quality tenants,” she said.

In Australia, Equiem manages the tenant online communication platforms for 10 of the 11 largest property landlords with staff working at over 100 buildings, including mixed-use, retail and residential projects.

The AFR reports that Equiem is also currently negotiating with premium office building landlords in Houston and Los Angeles.

Ms McMillan, who has been with the company since its inception, is relocating to New York City to open the company’s US headquarters located at 450 Lexington Ave., along with a staff of community managers, head of partnerships and client services director.