Cloud-based financial services vendor Intapp and Cherre, a real estate data management and analytics platform, announced a partnership in which the latter’s data will be available through the former’s DealCloud software,.
“In this partnership, Cherre will connect asset ownership, building information, and zoning, tax, and mortgage data and integrate it directly into the DealCloud platform using the Cherre API,” the announcement said. “DealCloud users will see these data points alongside firmwide proprietary information, resulting in an augmented view of current and prospective investments.”
According to Intapp, “DealCloud is a complete deal, relationship, and pipeline management solution for financial services firms. The solution manages firms’ market relationships, prospective clients and investments, current engagements and deal processes, operations and compliance activities, allowing investors and advisors to react faster, make better decisions, and execute on complex transactions.”
Given the amount of work financial services firms do in CRE financing, industry and project-level data helps provide significant resources. According to the two companies, the deal helps with three aspects of CRE investment.
First is due diligence. Potential investors or lenders can see applicable data for particular properties and gain it rapidly.
Second, business development and sourcing. “With details for over 22 million properties in the U.S., real estate investment firms will have access to an extensive database to support proprietary sourcing and research initiatives directly in the DealCloud platform,” the announcement said.
Third is investment tracking. “For owned assets, investors and operators will be able to leverage Cherre to monitor impactful locational changes — including tax and assessment updates and any shifts in market fundamentals surrounding land use — to elevate investment management functions.”
Financial services run on a number of things, like relationships and available capital. But as important is information. The industry is usually ahead of most others when it comes to leveraging computer technology for an edge, whether in sales and marketing or in operations. CRE ironically has a common reputation of being behind when it comes to tech.
The question is now what other partnerships might be on the horizon, given that neither company is the sole vendor existing in its field. To be clear, this announcement sounds like an expansion of an existing relationship and not a first interaction. But, as the release states, “Cherre’s growing partner network enables customers to seamlessly connect new data sets, providing a holistic portfolio view contextualized and benchmarked against marketwide intelligence.”