FLASH, a global cloud parking software provider, and real estate investment management firm Brookfield announced a strategic partnership. Brookfield’s technology growth investment firm will make a $40 million strategic investment in the partnership. Together, the companies will look to evolve the tenant experience by fully leveraging FLASH’s connected mobility and vehicle electrification solutions across Brookfield’s diverse global real estate holdings located in smart cities around the world.
“FLASH’s best-in-class mobility hub operating system will allow Brookfield to integrate our investments in real estate, construction, infrastructure, and climate technology that are leading the transformation toward smarter, connected cities,” Brookfield Managing Partner Josh Raffaelli said in a statement. “Consumers and tenants are seeking a seamless and personalized experience. Our partnership will drive the transformation of urban mobility and the real estate landscape – setting the new standard for a more efficient, cleaner, and cost-effective ecosystem.”
Today, FLASH’s solutions are used at more than 15,000 customer locations across all major U.S. cities and Canada. This strategic partnership will enhance Brookfield’s portfolio of office, residential, retail and hospitality assets with integrated, digital solutions for seamless access through machine-vision, real-time parking and electric vehicle charging reservations, convenient mobile payments and a suite of digital management and intelligence tools.
FLASH integrates with major automakers, entertainment and hospitality leaders, and global mapping, navigation and payment platforms to seamlessly connect urban real estate with hundreds of millions of potential customers.
“The impact of this expanded partnership goes far beyond FLASH and Brookfield,” FLASH Executive Chairman and CEO Dan Sharplin said. “This is a major industry step towards the transformation of global real estate assets into a dynamic network of connected mobility hubs, bringing us all closer to achieving our goals for an integrated smart city ecosystem. FLASH and Brookfield are 100 percent aligned in this transformative vision and committed to working together to fully connect the driver experience and modernize our cities.”
“The dynamic nature of the communities that we build, own and invest in, like in downtown Nashville or D.C., require a flexible technology platform to maximize the value of multi-use real estate,” Raffaelli said. “It needs to seamlessly deliver and integrate a variety of journeys and provide the support to tenants and customers who drive utilization of these constantly evolving hubs. Investing in FLASH’s future-ready technology today will allow us to deliver an electrified, autonomous tomorrow.”