Real Estate Technology, Real Estate Investment
PRNasia | July 17, 2023
MRI Software has acquired Loci Solutions Group Pty Limited, an Australian property technology consulting and outsourced managed services company serving commercial, industrial, and retail property markets across Asia Pacific.
Loci Solutions is well-known as an MRI Certified Partner specialising in the implementation of property management systems (PMS) for property developers, managers, and owners/investors. It also provides value-add outsourced accounting and lease administration services, as well as concierge support.
David Bowie, Senior Vice President and Managing Director for MRI Software in Asia Pacific, said, "I'm excited to officially welcome Nikki, Gwen, and the rest of the Loci team to MRI. This acquisition strengthens our MRI @Work™ capabilities and enables us to scale and better support our commercial clients in their business growth. We're particularly excited to add Loci's outsourced lease administration services to our portfolio, helping clients automate manual tasks, reduce costs, and accelerate time to value."
"Loci has been one of our key partners for over 15 years, serving as our primary implementation partner for Property Management X (PMX) in APAC for most of this time. As we integrate Loci's capabilities into our solution suite, our clients will have a more consistent experience and further benefit from our combined PropTech expertise," he said.
Loci co-founder to lead MRI @Work Professional Services and Support
Loci CEO and co-founder, Nikki Steadman, will lead the APAC MRI @Work Professional Services and Support team, which supports some of Australia's largest and most complex commercial real estate portfolios.
Speaking in her new capacity as Head of MRI Professional Services and Support for MRI @Work, Asia Pacific, Ms. Steadman says, "We've felt like an extension of the MRI family for the last 15 years, and it's an honour to be formalising our relationship. Creating a united team like this allows an even more integrated approach for our commercial clients. I am really excited about the depth and breadth of service and product we're able to offer together. It's my privilege to now lead the unified team as we work from beginning to end in a client's journey and success."
Mr. Bowie says, "Rest assured, MRI remains committed to our core value of providing clients the ability to choose the service providers that best meet their business needs. We look forward to continuing to grow and enable our managed services and consulting partner ecosystem to meet client demands and deliver world class services with a sole focus of client success."
The financial terms of the deal are confidential.
About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI's open and connected, AI-first platform empowers owners, operators and occupiers in commercial and residential property organisations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than six million users worldwide. Through innovative solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to realise their vision of building thriving communities and stronger businesses. For more information, please visit mrisoftware.com/au.
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Real Estate Technology
PRnewswire | August 07, 2023
GoldOller Real Estate Investments, a real estate investment and management firm, announces the addition of Tribeca at Camp Springs in Camp Springs and Concord Park at Russett, both in Maryland, to its growing portfolio of third-party managed communities.
"We are thrilled to be expanding our relationship with Excelsa Properties," said GoldOller President and COO Jake Hollinger. "We bring an owner mentality to all of our projects, and this approach to our third-party management projects is why owners and investors like Excelsa trust us to manage their assets."
Tribeca at Camp Springs features 235 rental apartments, 46 condo units, and five retail spaces. The community is ideally located adjacent to the Branch Avenue Metro Station and minutes from Joint Base Andrews in the Washington, DC metro area. Concord Park at Russett is located in Laurel and consists of 335 apartments. Located minutes from the NSA offices, Fort Meade, and the Baltimore-Washington Parkway, Concord Park is halfway between Baltimore and Washington.
"These communities represent the third and fourth assets owned by Excelsa that we are managing for them, and we look forward to experiencing continued success in our partnership," said Sarah Campion, Vice President of Asset Management for GoldOller.
In addition to Tribeca at Camp Springs, the GoldOller and Excelsa partnership includes Columbia Pointe, a 325-unit community in Columbia, MD, and Coventry Green, a 256-unit community in Goose Creek, SC. All four projects will include a value-add business plan for interior apartment renovations and upgrades to community amenities.
"Excelsa has an appetite for more deals," said Excelsa Director of Asset Management Curtis Holder. "We are actively pursuing investment opportunities and look forward to growing our portfolio of value-add apartment communities."
About GoldOller Real Estate Investments
Formed in 2008 by industry veterans Richard Oller, Jeffery Goldstein, and Jake Hollinger, GoldOller is an innovative owner-operator and third-party manager of apartment communities throughout the United States. Ranked #35 in the National Multifamily Housing Council's list of Top 50 Managers, GoldOller and its affiliate Multifamily Management Services own and manage over 45,500 apartments in 23 States.
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Real Estate Technology
Globenewswire | August 14, 2023
Tango, a leading provider of cloud-based real estate and facilities management software, today announced it has acquired WatchWire, an industry leader in data and analytics that helps companies reduce emissions and energy expenses while simplifying sustainability and carbon reporting. The transaction further extends Tango’s position as a global leader in the real estate and facilities management space, enabling companies to meet their energy management and sustainability goals. WatchWire’s leadership team will join Tango to continue developing and progressing these key capabilities. Financial terms of the private transaction were not disclosed.
“Faced with a rapidly changing macro and regulatory environment, active sustainability and energy management has become essential to long-term organizational success,” said Pranav Tyagi, President and Chief Executive Officer of Tango. “Tango has a longstanding reputation for solving the complex, location-based compliance and reporting needs of our customers, as well as helping companies effectively manage and control occupancy costs. With the addition of WatchWire, we will provide customers information that arms them to understand their environmental impact and deliver on energy and sustainability management initiatives.”
Founded in 2000 and based in New York City, WatchWire provides the deepest and most comprehensive integrated energy management and sustainability platform in the industry, enabling companies to automate the collection and validation of sustainability and energy related data. Its solutions then operationalize the data for reporting, compliance and identifying additional opportunities to meet environmental, energy and climate targets. The combined business will serve over 500 customers in more than 140 countries from its primary offices in Dallas and New York.
A strong relationship between owners and the users of real estate is critical to ensuring accurate, active tracking and reporting on energy and sustainability. Tango brings considerable experience to the establishment and management of that relationship through its work in transaction management, lease management and facilities maintenance, and will help bridge the communication gap between owners and operators to address their joint energy and sustainability management requirements and deliver on decarbonization objectives.
“We are excited to be joining the preeminent real estate and facilities management solution in the industry,” said Andy Anderson, CEO of WatchWire. “Combining the vast amount of validated energy data available in the WatchWire platform with Tango’s real estate and facilities management capabilities will enable companies to support the accurate tracking and reporting that customers require, and operationalize insights about how to lower costs and improve sustainability. WatchWire customers will also benefit from the end-to-end real estate and facilities solution that Tango offers.”
“Since our initial investment in Tango, we have been focused on adding a sustainability and energy reporting capability, as these offerings will help Tango extend its leadership position in the real estate management software market,” said Jon Nuger, a Managing Director at Berkshire Partners, which made a growth investment in Tango in 2021. “We are excited to partner with Pranav and the management team as they harness Tango’s and WatchWire’s combined capabilities to empower organizations to improve energy efficiency, enhance sustainability and reduce cost.”
Harris Williams acted as exclusive financial advisor to Tango and Berkshire Partners on the acquisition of WatchWire. GrowthPoint Technology Partners, a San Francisco-based technology investment bank, acted as exclusive financial advisor to WatchWire.
About Tango
With hundreds of customers across more than 140 countries, Tango is the leader in Store Lifecycle Management and Integrated Workplace Management System software, delivering a single solution spanning real estate, design & construction, lease administration & accounting, facilities, desk booking, visitor and space management.
About WatchWire
WatchWire is a sustainability and energy management software-as-a-service provider. Across the globe, WatchWire helps commercial and corporate real estate portfolios, Fortune 500 industrial/manufacturing and big-box retail companies and government, healthcare, and educational facilities reduce emissions and expenses while simplifying sustainability and carbon reporting.
About Berkshire Partners
Berkshire Partners is a 100% employee-owned, multi-sector specialist investor in private and public equity. The firm’s private equity team invests in well-positioned, growing companies across technology & communications, consumer, healthcare, and services & industrials. Since inception, Berkshire Partners has made more than 150 private equity investments and has a strong history of collaborating with management teams to grow the companies in which it invests. The firm's public equity group, Stockbridge, founded in 2007, manages a concentrated portfolio seeking attractive long-term investments. The firm’s Stockbridge and Private Equity teams frequently collaborate and leverage their collective industry expertise across sectors.
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