RICHARDSON, TX—RealPage said Wednesday afternoon it had agreed to acquire leasing platform On-Site Manager Inc. for approximately $250 million in cash. The acquisition will expand RealPage's leasing and marketing platform, among other things adding about 700,000 new units to the platform's base.
“On-Site manages the entire leasing process from lead assimilation, to applicant screening, to the final generation of signed lease documents,” says Steve Winn, CEO of Richardson, TX-based RealPage. “The acquisition increases our screening footprint and adds incremental consumer-oriented data that will benefit our data analytic solutions.
“Most importantly, On-Site will significantly improve the integration of our leasing solutions into major property management systems such as Yardi, MRI and AMSI,” Winn adds. The company believes that the combination of On-Site and RealPage capabilities will benefit “all multifamily and single-family owners and operators, not just those using RealPage property management solutions.”
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
