BROKERAGE, REAL ESTATE INVESTMENT
Businesswire | April 17, 2023
Built Technologies, one of the fastest growing construction and real estate software providers in the U.S., has announced a strategic investment from Citi through its SPRINT program.
Citi SPRINT (“Spread Products Investment Technologies”), the strategic investing arm of Citi’s Global Spread Products division (“GSP”), is part of Citi Institutional Strategic Investments (“ISI”). Citi SPRINT focuses on incubating innovative fintech companies that provide strategic relevance and next-generation solutions to the financial markets.
Built plans to use the investment to accelerate its growth in commercial real estate (“CRE”) asset management and enable further operational and technological enhancements. Through the utilization of Built’s platform, Citi will have the opportunity to introduce digitization solutions to other lenders, developers, and borrowers in the ecosystem.
“The investment from Citi SPRINT opens a new market opportunity for Built to gain traction with one of the largest U.S. financial institutions in the real estate industry,” said Chase Gilbert, CEO and Co-founder of Built. “Citi SPRINT's investment is a testament to Built's vision and the value Built delivers to its customers. The investment presents a unique opportunity, and one that will further accelerate our market reach.”
“GSP consistently seeks to drive value and enhance our client experience through innovative digitalization efforts with industry-leading software providers,” said Mickey Bhatia, Head of Global Spread Products at Citi. “Our investment in Built Technologies extends this commitment by helping to further modernize our Financing and Securitization franchise. With this partnership, we seek to cultivate higher standards of service for our clients and the broader market.”
Citi Community Capital, another business in GSP, provides a suite of financial products to help affordable housing developers construct, rehabilitate, refinance, and acquire multifamily affordable housing across the country. It has been recognized as the number one affordable housing lender in the United States, according to Affordable Housing Finance magazine's annual ranking, for twelve consecutive years.
“Citi Community Capital is pleased to work with Built on enhancing Citi’s existing technology to better manage commercial real estate draws, expedite loan management reporting, and improve borrower experience,” said Jeremy Johnson, Co-Head of Citi Community Capital.
“Built has achieved strong growth due to its ability to help lenders achieve efficiencies, expedite revenue generation, and serve their customers more effectively,” said Katya Chupryna, Director, SPRINT. “By investing in Built and bringing their innovative solutions to Citi, we empower Citi Community Capital and other CRE lending businesses to grow faster and serve clients better,” she added.
Built Technologies’ innovative software platform streamlines the construction loan administration process by simplifying the management of funds and documentation, allowing lenders to administer their construction loans more efficiently. The company’s technology enables faster funding decisions and draws, while providing real-time transparency and visibility into the status of construction projects through Built’s CRE data model. More than 250 banks and private capital providers use Built’s cloud-based solution to create a centralized system of record and accelerate the flow of capital from lenders to borrowers, contractors, and vendors.
About Built Technologies
Built is the leading provider of construction and real estate finance technology. By providing a centralized platform for all stakeholders, Built enables increased efficiency, collaboration, transparency, and business agility—with decreased risk—allowing customers to improve the way that the communities around them are built and managed. The Built platform is used by more than 250 leading North American lenders and asset managers, and thousands of developers, home builders and contractors. To learn more, visit https://getbuilt.com/demo-request/.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
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REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Globenewswire | April 13, 2023
Inhabit has launched ResidentIQ a first of its kind ecosystem for residential property managers. This new solution provides technological innovation and best-in-class solutions while maintaining the efficiency of their existing core property management system (PMS). ResidentIQ by Inhabit brings comprehensive offerings in the operations, resident engagement, insurance, payment, and screening solutions within one simple relationship designed to pair with your existing PMS.
Gustavo Sapiurka, EVP & Managing Director of ResidentIQ, said “Property managers love the idea of a single invoice, contract, and point of contact. ResidentIQ provides all of that, plus a host of product experts under one umbrella in a completely flexible and customizable ecosystem.”
With a custom-tailored solution, ResidentIQ increases choice while reducing administrative friction caused by layers of interconnected vendors. By packaging industry leading solutions within one proven partner, ResidentIQ allows for easy scalability and seamless support by creating a powerful combination of connected PropTech.
“We’re proud of this unique collection of best-in-class, stackable solutions that give property management companies a real edge in business without having to change their core software system,” said Lisa Stinnett, CEO of Inhabit. “ResidentIQ gives owners and managers the power and flexibility of choice and the ability to close crucial gaps in their tech stack.”
By further revolutionizing the PropTech buying experience, ResidentIQ simplifies the technology stack with a “build your own solution” as needed based on portfolio or asset type. Instead of multiple vendors serving small niche needs, ResidentIQ provides one contract, one bill and one customer service point of contact beyond the core PMS relationship. This provides accountability, strong integrations, and ease of use for today’s busy PMC leaders.
ResidentIQ offers tech solutions covering all the essential areas of property management including payments, inspections and facilities, utility billing, lease compliance and audit, insurance, document management, marketing, online leasing, and employment and resident screening. The suite also has resources for learning management, a contact center, and a CRM for prospect and resident engagement. Each PMC has the flexibility to choose one, or all services to work seamlessly with their current management objectives and goals with adding new solutions as easy as completing a work order.
ResidentIQ’s network of solutions cater to all residential sectors, including multifamily, single-family, affordable housing, student housing, HOA communities, and mixed-use properties.
About ResidentIQ
ResidentIQ by Inhabit is the easiest way to bring industry-leading tech solutions to any property management system. With a compelling collection of tools, ResidentIQ empowers property owners and managers to make better leasing decisions and run their business more efficiently. Simple and seamless workflows create an exceptional user experience for both renters and leasing teams. ResidentIQ was specifically designed to improve top-line performance with a proven fast path to revenue on the front end while lowering debt on the back end by reducing fraud, evictions, and skips. For more information, visit ResidentIQ.com.
About Inhabit
Inhabit is a software company serving the residential and vacation property management industries. It delivers best-in-class software solutions while fostering industry-leading innovation and collaboration. Powered by its diverse team of business leaders and industry experts, the company focuses on providing property management professionals more choice through its software ecosystems. Inhabit believes that property managers are central to the success of the residential and vacation housing markets and delivers products built to empower them, their investors, and communities. Inhabit’s private equity partners include Goldman Sachs Asset Management, Insight Partners, Greater Sum Ventures and PSG, which support the company’s commitment to property management software solutions. To learn more, visit Inhabit.com.
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REAL ESTATE TECHNOLOGY, INVESTMENTS
PRweb | April 19, 2023
REMLogics, LLC (REMLogics), a leader in modern, cloud-native real estate property management solutions, announced today that their commercial and residential suite of applications are now completely integrated to Intuit’s (NASDAQ: INTU) QuickBooks financial and accounting platform.
“We’re very excited to partner with small real estate property owners and operators to help them better serve their tenants and residents”, shared Donnie Law, CEO and Chief Software Architect at REMLogics. “These organizations can now immediately take advantage of the same modern technology platform and applications that medium to large real estate companies use to manage and grow their businesses.”
REMLogics is best known for providing an eco-system of modern, cloud-native real estate management applications that are built on the industry’s only enterprise no-code development platform. REMLogics clients benefit from robust applications that manage CRM, deal flow, properties, leases, tenants and residents, and billing.
“Our clients are confident their business is running on a modern technology platform that provides them with future-proof software investment protection. We architected our platform and applications to ensure that our clients could scale and grow their business years into the future and always be able to adopt new technologies as they come along.” Law said.
REMLogics is an open platform that can be integrated to other open systems through industry standard REST-based API endpoints. This enables their clients to take advantage of other proptech innovations, such as property marketing, smart building, smart device, utility monitoring, and property maintenance systems. The platform is also built with mobility in mind. All REMLogics applications can be accessed 24/7 from anywhere, at any time, and from any device.
About REMLogics
REMLogics is redefining real estate management for commercial and residential owners and operators. Clients benefit from a modern, cloud-native solution built on the industry’s only enterprise no-code development platform. REMLogics is designed for mobility and integration so clients can respond faster to the ever-changing technology and real estate landscape. Learn how you can drive innovation, embrace new technologies, outpace the competition, and future-proof your real estate management investment by visiting http://www.remlogics.net.
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