RealPage To Acquire CRE Global For Hipercept Real Estate Data Tech

Jun. 27, 2019 1:49 PM ETRealPage, Inc. (RP)CSGP


  • RealPage has agreed to acquire CRE Global Enterprises for an undisclosed sum.
  • CRE is the holding company for Hipercept, a suite of data aggregation and analytics tools for the commercial and multi-family real estate industry.
  • RP will acquire a significant piece to be able to offer a full investment tracking and management suite for real estate firms.
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Quick Take

RealPage (NASDAQ:RP) announced it has agreed to acquire CRE Global Enterprises, a holding company for Hipercept for an undisclosed amount.

Hipercept provides data services and data analytic solutions to institutional real estate owners with over $500 billion in assets.

With the deal, RP is gaining the potential to provide an ‘all-in-one’ solution for real estate investors and asset managers throughout the investment lifecycle.

Target Company

New York-based Hipercept was founded in 2009 to provide advisory, data management, partner management, as well as application management services to real estate owners in the US, Asia, Canada, and Europe.

Management is headed by CEO Colin Kovas, who has been with the firm since 2014 and was previously a director at NewOak Capital.

Below is an overview video of the company’s offerings:

Source: Hipercept

Additionally, the company provides FUEL, a cloud-based commercial and multifamily real estate valuation cash flow forecasting solution, and Foundation - a data storage, governance, and analytics platform.

Company partners or major customers include insurance companies, pension funds, major banks, and asset management firms.

Market And Competition

According to a market research report by McKinsey, real estate analytic technologies provide developers and asset owners with the tools necessary to rapidly gain relevant property insight and take informed actions based on both traditional and recently-emerged non-traditional data points.

Real estate analysts have to sift through numerous records and data points to discern clear patterns and place their bets with few supporting tools, and by the time the investor collects, compiles, and processes the data needed to distill action - the best opportunities are gone.

Moreover, new and unconventional data sources, such as resident surveys, mobile phone signal patterns, and Yelp reviews of local restaurants are becoming increasingly relevant for the identification of “hyperlocal” patterns - granular trends at the city block level rather than at the city level.

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