Richardson, Texas — Richardson-based software and data analytics provider RealPage Inc. has entered into an agreement to acquire Axiometrics, a leading provider of apartment market data, for approximately $75 million.
Axiometrics will be combined with MPF Research, a division of RealPage. In addition, RealPage has entered into a long-term relationship with Real Capital Analytics (RCA), a leading authority on multifamily sales transaction data. This acquisition and partnership will combine data from three of the industry’s most powerful data brands.
“The acquisition of Axiometrics furthers our goal to become the definitive source for accurate data intelligence regarding the acquisition, operation and disposition of every market-rate apartment in the U.S.,” says Steve Winn, chairman and CEO of RealPage.
“The acquisition of Axiometrics and its industry-leading student housing product is an important advancement for RealPage,” says Greg Willett, chief economist at RealPage. “In addition, our new strategic partnership with Real Capital Analytics will enhance our services by providing the best performance, construction pipeline and sales comps metrics available.”
“Meanwhile, student housing performance remains strong in the early part of the fall 2017 leasing season,” continues Willett. “Leasing velocity for fall 2017 is ahead of last year’s pace. The national average pre-lease rate was approximately 30 percent as of December 2016, up from 29 percent in December 2015 and 26 percent in December 2014. Some properties are completely leased eight months before the move-in date later this year.”