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It's Official: ePropertyTax and C&W Confirm Investment Agreement

NEW YORK CITY-Cushman & Wakefield, based here, has become an investment and strategic partner with ePropertyTax according to spokespeople for both companies. C&W will be able to offer the tax management e-product to its own customers.

By Amy Vaughn | Updated on January 18, 2001

NEW YORK CITY-Cushman & Wakefield, headquartered here, and ePropertyTax, based in Scottsdale, AZ, have both now confirmed rumors of an agreement between the two companies. Spokespeople for C&W term the deal a “major agreement” and “an alliance [that] provides C&W client-owners with a powerful on-line tax solution.” Richard D. Nearhood, CEO of ePropertyTax tells GlobeSt.com, “We were looking for investment and strategic partners and this agreement, in a sense, killed two birds with one stone.”

ePropertyTax has created an application that gives its clients access to the Internet and a database of information that calculates the property taxes due on a property and manages said tax information. “We provide bundled solutions–we provide an application service and data management,” he explains. Cushman & Wakefield’s agreement with the company will allow C&W clients to have access to the technology and provides ePropertyTax with the cash flow needed to finance its marketing endeavors, according to Nearhood.

“Right now our clients include six of the top 15 REITs and we’re branching out from REITs to include more corporate owners such as retailers and manufacturers,” he says of the company’s future. “They have slightly different problems with property tax management–they have corporate real estate and personal property tax issues and so their needs are somewhat different than REITs. They generally outsource and may not have in-house property tax management and we would do that.”

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