NEW YORK CITY- VTS, a leasing and asset management platform, has acquired Property Capsule, an automation and software platform for retail landlords. The technology providers joined forces to capitalize on the rising demand for platforms that automate the marketing of retail assets.
PropertyCapsule assists landlords leasing and marketing professionals at landlord and brokerage organizations to manage and market retail assets. The acquisition will enable VTS to offer a leasing management product for retail landlords to attract clientele and reduce the time consuming process between developing a client pool to opening a store.
"VTS is investing heavily in the retail sector, and the combination of PropertyCapsule's strong market traction and the deep experience of the team made this acquisition an obvious decision," said Nick Romito, CEO of VTS, in a prepared statement.
Thomas Byrne, CEO of PropertyCapsule and former president and COO of LoopNet, will join the VTS team as General Manager of Retail Products and Data. He will oversee the strategic direction and delivery of VTS' retail product offerings.
"Joining forces with VTS puts us in a position to accelerate growth and continue to deliver software that helps retail owners and brokers market and lease their centers to the changing demand in the market," said Byrne in a prepared statement.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
