Ten years after: Advancements in using virtual data rooms for real estate transactions
Abstract
Ten years after the original publication of our virtual data rooms (VDRs) in the Corporate Real Estate Journal, this paper revisits the transformative role VDRs have played in real estate transactions. Initially leveraged for their secure document exchange and real-time collaboration capabilities, VDRs have since evolved into indispensable tools for real estate due diligence, particularly in complex, high-value deals. Over the past 10 years, VDRs have adapted to meet the demands of remote work, cybersecurity threats and the growing complexity of deal documentation. This paper analyses how modern VDRs address traditional due diligence challenges — such as managing high volumes of sensitive documentation under tight deadlines — and demonstrates how modern VDRs mitigate these issues through cloud scalability, intuitive interfaces and real-time collaboration. Readers will learn how to be better prepared to select, configure and manage VDRs to support secure, efficient and trustworthy real estate transactions, with insights tailored for both buy-side and sell-side processes. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
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Author's Biography
Kevin E. Timson is a New York-based attorney at ArentFox Schiff. He has extensive experience counselling automotive retail businesses and other public and private businesses on a range of legal matters, including the purchase, sale, leasing and financing of commercial real property as well as mergers, acquisitions, joint ventures, corporate governance and business disputes. Before becoming a practicing attorney, Mr Timson was the Director of Business Development for Venne at RR Donnelley. Mr Timson also provided financial and operating analysis for RR Donnelley, the Metropolitan Transport Authority and the National Science Foundation. This experience has proven invaluable in helping him better understand client operations, supporting their financial objectives while minimising their legal risks.
Justin Nowicki is currently the Senior Director of Growth at Donnelley Financial (DFIN), primarily focused on their Venue virtual data room (VDR) offering. Prior to DFIN, Justin founded and grew BankerBox, a transaction management software solution for mergers and acquisitions. BankerBox was acquired by the Intralinks Division of SS&C Technologies. Justin’s interest and expertise in technology solutions for investment banks and mergers and acquisitions stem from his direct experience as an M&A adviser. Justin started his career as an investment banking associate and became a Vice President before moving into the software sector.
