When it comes to property management companies and technology supplier partners, the script has flipped for some this year as it's tech companies that are showing greater interest in acquiring rather than serving these firms.
Looking to build their brand, these innovation firms are — "can gain an instant uptick in revenue growth from the acquisition," as multifamily tool Lighthouse's head of business development Sterling Weiss put it, having spoken recently with REITs who have been courted by such companies.
For now, technology companies are happy to transact with small- and mid-sized apartment owners and managers.
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