At present, RealPage estimates that less than 10% of owners and operators of the 45 million rental housing properties in the US currently utilize data-driven pricing science. International markets are believed to possess an even lower rate of adoption for asset optimization software and data analytic solutions, RealPage says.

Rainmaker CEO Bruce Barfield and COO Tammy Farleyare expected to remain with the firm to run the gaming and hospitality division, but have agreed to work closely with RealPage during a transition period immediately after the acquisition is closed. The completion of the acquisition remains subject to certain standard conditions, and is expected to close during the second quarter.

Last month, RealPage said it would pay $75 million RealPage Inc. for substantially all of the assets of apartment market data provider Axiometrics, and that it would integrate the Axiometrics platform with that of RealPage's MPF Research division. Additionally, RealPage has entered into a long-term relationship with Real Capital Analytics for its multifamily sales transaction data.

Several economic factors have resulted in net positives for the multifamily sector and prices in core markets are at an all-time high. But just how long can the market continue on this trajectory? Join us at RealShare Apartments East on Feb. 28 and March 1 for insights on succeeding in the right markets as well as navigating and finding opportunities in the more challenging ones. Learn more.

RICHARDSON, TX—Following up its acquisition of Axiometrics last month, RealPage has agreed to acquire to acquire Lease Rent Options and related assets from the Rainmaker Group for $300 million in cash. LRO is a revenue management solution that empowers optimized pricing for over 1.5 million apartments.

“With many apartment markets softening around the US, now is the right time to bring together the best data-science talent, a comprehensive lease-transaction database and RealPage's powerful suite of pricing, demand and credit optimization tools into one comprehensive platform,” says Steve Winn, chairman and CEO of Richardson, TX-based RealPage. “Price optimization creates real opportunity to increase asset values and yields from the nearly $3 trillion of apartment stock in the US that turns over at approximately $150 billion per year.

“As revenue management becomes more broadly accepted, we expect our combined platform to drive accelerated, sustained revenue growth in our Asset Optimization product family over the long term,” he adds. “We believe we have all of the components necessary to offer solutions that bring efficiency and precision to the apartment real estate sector which has historically lacked the solutions available in other investment classes.”

Specifically, RealPage believes the LRO buy will better position it to penetrate an emerging global market opportunity to optimize operational and transactional yields for rental housing assets. The addition of LRO also enhances the company's real-time lease transaction data, which is expected to improve optimization of new and renewal prices for rental housing leases.

At present, RealPage estimates that less than 10% of owners and operators of the 45 million rental housing properties in the US currently utilize data-driven pricing science. International markets are believed to possess an even lower rate of adoption for asset optimization software and data analytic solutions, RealPage says.

Rainmaker CEO Bruce Barfield and COO Tammy Farleyare expected to remain with the firm to run the gaming and hospitality division, but have agreed to work closely with RealPage during a transition period immediately after the acquisition is closed. The completion of the acquisition remains subject to certain standard conditions, and is expected to close during the second quarter.

Last month, RealPage said it would pay $75 million RealPage Inc. for substantially all of the assets of apartment market data provider Axiometrics, and that it would integrate the Axiometrics platform with that of RealPage's MPF Research division. Additionally, RealPage has entered into a long-term relationship with Real Capital Analytics for its multifamily sales transaction data.

Several economic factors have resulted in net positives for the multifamily sector and prices in core markets are at an all-time high. But just how long can the market continue on this trajectory? Join us at RealShare Apartments East on Feb. 28 and March 1 for insights on succeeding in the right markets as well as navigating and finding opportunities in the more challenging ones. Learn more.