Real Estate Specialist ApartmentData Acquired

In the US, real estate software developer MRI Software has acquired ApartmentData.com, which provides market research and data solutions on multifamily properties.

Founded in 1986 by John Severance (pictured), Houston-based ApartmentData.com provides data on professionally managed properties with more than 50 units. Its flagship Competition RADAR uses proprietary algorithms to identify and alert users to relevant competitor trends, provide pricing recommendations, and calculate property- or portfolio-level impact.

Through the deal, MRI Software says it will further expand its MRI Living suite of property management solutions for the multifamily market. John Ensign, MRI's President and Executive MD, North America, comments: 'Over the last several years, we've significantly expanded our MRI Living portfolio to provide tools that make our clients' lives easier and help them take better care of their residents, businesses, and themselves. Data is critical to helping us deliver on those objectives. With a 'smart data' solution like Competition RADAR, we can provide clients with actionable data and market insights, so they can navigate the future with confidence and gain a competitive advantage'.

Web sites: www.mrisoftware.com and www.apartmentdata.com .