MARKET OUTLOOK, REAL ESTATE TECHNOLOGY
MRI Software | February 27, 2023
One of the leading software solutions in real estate, MRI Software, announced it completed the acquisition of the $93.4 million stock of PropTech Group. The Foreign Investment Review Board (FIRB), Australian Competition and Consumer Commission (ACCC), and Federal Court of Australia approved the highly anticipated transaction, first announced last year.
Australia's property technology (PropTech) industry has experienced extraordinary growth in recent years due to an influx of new providers and innovation. By acquiring PTG, MRI enhances and expands its MRI LivingTM suite of residential sales and property management solutions, automating and simplifying all consumer touchpoints within the real estate industry.
It is recommended that the agency professionals continue their work with their respective PTG or MRI contacts. The PropTech Group initially traded as PTG on the Australian Securities Exchange (ASX) in November 2020 with a suggestive enterprise value of $27 million outlined in its Prospectus. MRI has acquired it for $93.4 million, equal to a nearly 250% increase in value in the past two years.
Senior Vice President and Executive Managing Director for MRI Software in Asia Pacific, David Bowie, said, "This acquisition brings together two innovative PropTech companies dedicated to providing the greatest possible value to real estate agencies across Australia and New Zealand." He added, "The residential real estate industry is now a step closer to having a holistic operational view of consumers throughout their property life cycle."
(Source: Cision PR Newswire)
About MRI Software
MRI Software, is a top real estate software solution provider that transforms how communities live, work and play. Its open and connected AI-first platform empowers owners, workers, and occupiers in residential and commercial property organizations to revolutionize in rapidly changing markets. It has been a pioneer in the PropTech industry for over fifty years, offering two million+ users globally. Through a rich partner ecosystem and innovative solutions, the software provider provides real estate companies access to accomplish their vision of building flourishing communities and more substantial businesses.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Side | January 30, 2023
Robust Real Estate, a client-centric residential sales and leasing firm, recently announced its partnership with Side, a real estate technology company. The collaboration will ensure that the relationship-driven firm of Robust Real Estate is powered by the industry's most advanced platform.
Corey Nelson founded Robust Real Estate to assist Southern California homebuyers and sellers achieve their real estate objectives. With a total transaction volume of approximately $300 million, Nelson and his team earned a spot on the Los Angeles magazine Real Estate All-Stars list for 2023 and the RealTrends list of America's top real estate professionals in 2022. In addition, the team has 100 five-star Zillow ratings and many satisfied clients who support its referral-based business.
Partnering with Side will ensure that Robust Real Estate remains at the forefront of the evolving real estate market and continues to provide its clients with premium services. Side supports Robust Real Estate with a one-of-a-kind brokerage platform consisting of proprietary technology, branding and marketing services, transaction management, public relations, lead generation, vendor management, legal support, and infrastructure solutions. In addition, Robust Real Estate will join an exclusive group of Side partners, gaining access to an expansive network.
Corey Nelson, Founder of Robust Real Estate, shared, "I've dreamed of opening my own brokerage since obtaining my broker license in 2015, but I was hesitant to move forward because of the overhead, complexity, and liability." He adds, "Side solves many of my concerns by providing my team and me with access to state-of-the-art marketing, technology, administrative, and legal services, so we can spend more time delivering best-in-class service to our clients."
(Source – PRWeb)
Headquartered in San Francisco (California) and founded in 2017, Side is a real estate brokerage platform empowering agents, teams, and independent brokers to establish and expand their boutique brands. The company works in the background to provide its partners with time-saving technology and superior support so brokers can work without worrying about the time, cost, or risk of operating a brokerage. Its proprietary technology platform and support solutions enable agent partners to increase productivity and expand their businesses. As a result, Side has helped launch more than 500 real estate companies across the country.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
WPM Real Estate Management | January 27, 2023
WPM Real Estate Management, one of the leading property management firms in the Mid-Atlantic region, has today announced several internal promotions as part of its long-term objective for growth and success.
WPM's Maintenance and Construction Services Division named Michael 'Mike' Mangum Director of Operations. Mike joined WPM 14 years ago as a service technician and was elevated to Maintenance Operations Advisor in 2021 after 10 years as Service Manager in the Multifamily Real Estate Division. He's vital to WPM's operations, training, and success. His new post is part of a strategic reorganization inside the division that will allow the company to extend its service offerings and boost cross-company collaboration on maintenance and services, increasing client value.
Meanwhile, Rita Dore has now been promoted to Senior Commercial Manager for WPM's Commercial Real Estate Division. She managed community associations for the Association Real Estate Division. Rita has worked in WPM's Association, HR, Commercial, and Services divisions for 17 years. She has excellent client contacts and extensive knowledge of WPM's procedures, technologies, and operations. Her leadership at WPM's Commercial Real Estate Division will help it flourish.
CEO James Dahlgren, Jr. expressed, "We're excited to have Mike and Rita stepping into these leadership positions to help us grow these two divisions." "Both of these individuals bring extensive knowledge and experience to their roles and will be instrumental to WPM's continued growth and expansion," James added.
(Source – Cision PR Web)
Besides, Herman Martin is now the Multifamily Maintenance Operations Advisor, replacing Mike Magnum. He joined WPM in 2021 after 30 years in the profession. Herman's knowledge of the division's service demands and track record ensure continuity. This role will report to Mangum and assist with Multifamily Real Estate Division maintenance needs as part of the planned restructuring.
In this context, CEO James Dahlgren, Jr. remarked, "Herman is well respected by Associates and clients alike." "I am confident he will continue to deliver on WPM's commitment to service excellence in this new role," he concluded.
(Source – Cision PR Web)
About WPM Real Estate Management
WPM Real Estate Management manages nearly 25,000 properties and over 40,000 people in Maryland, Pennsylvania, Delaware, and Virginia. Its services include multifamily real estate management, association real estate management, commercial real estate management, along with maintenance and construction. The company brings an experienced owner's viewpoint and a proactive approach to property management to ensure that its actions and decisions add value for people living, working, and investing in its properties. Being a premier real estate management firm in the region, the company has earned the title of Accredited Management Organization®.