Greystone, Altus Turn To Tech To Boost Deal Performance
The transactions illustrate the rapid strides advanced analytics and reporting and artificial technology are making into the commercial real estate space.
TEL AVIV and TORONTO–In two separate deals, commercial real estate companies turned to technology to improve their deal analysis and performance capabilities. The transactions illustrate the rapid strides advanced analytics and reporting and artificial technology are making into the commercial real estate space.
Greystone Taps Skyline AI’s Expertise
In one, New York City-based Greystone will use Tel Aviv commercial real estate startup Skyline AI’s artificial intelligence technology with its Greystone Labs to improve the speed and accuracy of its underwriting.
Skyline AI can detect and exploit market anomalies, identify investment opportunities and discover untapped value creation possibilities, according to the company. The platform can also provide market data analysis and information on the best time to raise rents, renovate and sell.
Skyline AI will also leverage Greystone’s data to improve its own application.
According to Zac Rosenberg, director of Greystone Labs, its technology can already underwrite loans in a fraction of the typical timeline. “Our collaboration with Skyline AI will allow us to combine our industry expertise in both lending and investment with their expertise in data science and artificial intelligence,” he says in a prepared statement.
Altus Group Acquires Investment Software Co.
In the other transaction, Altus Group has acquired the Paris-based Taliance Group for approximately $23.3 million. Taliance provides alternative investment software that is used by some of the largest investment firms worldwide, according to Altus. The company plans to integrate the software into its ARGUS Enterprise application, adding equity and debt investment modeling and waterfall distribution reporting to its portfolio of features.
What Taliance brings to the table is strong functionality in providing information at the fund level and the investment level, Altus Group CEO Robert Courteau tells GlobeSt.com. “Our strengths lie more in the evaluation and asset level.”
The target audience for the new offering will be asset and portfolio managers, he adds.