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RealPage Press ReleaseRealPage Acquisition of M/PF Research Combines Leaders in Technology and Market ResearchDALLAS, TX - July 19, 1999 - RealPage, Inc., the leading provider of multifamily property management software and services, today announced that it has acquired M/PF Research, Inc., a Dallas-based company that provides market research analysis of multifamily and commercial real estate markets across the United States. M/PF will operate as a separate wholly owned subsidiary of RealPage.The acquisition combines the Web technology initiatives under development at RealPage with the nationally acclaimed research methodologies practiced by M/PF. The eventual outcome of this unprecedented union will be availability of comprehensive, current demographic, market and performance data delivered on a real-time basis. "Both companies have an extensive base of existing clients who will benefit from this acquisition," said Jim Melson, chief executive officer of RealPage. "Our intent is to enable clients to easily access market research information for use in monitoring and benchmarking property performance. The technology investment planned for M/PF will be aimed at instantaneously connecting property stakeholders with site data, sub-market research, and relevant commentary of trends and forecasts." M/PF Research President Ron Witten, who will remain as president of M/PF, is excited about the teaming of the two companies. "We are delighted to become a part of a much larger company with the technological resources to dramatically extend the capabilities of M/PF," said Witten. "We are especially eager to access RealPage's expertise to migrate M/PF product delivery to the Internet. Based in Dallas, M/PF Research, Inc. has been providing market research analysis of residential and commercial real estate markets across the United States since its inception in 1961. It is retained by investors, developers, owners and lenders to provide project-specific market studies, as well as broader, strategic market selection studies and reports. RealPage, Inc. offers products and services to handle the entire site management process for both affordable and conventional multifamily properties, including applicant screening, accounting, budgeting, property management, facilities, marketing, and compliance reporting. The company also develops and delivers proprietary Web-based applications that enhance client information management capabilities. RealPage is headquartered in Carrollton, Texas. The company was formed from the December 1998 merger of Rent Roll, Inc., a Dallas-based company offering multifamily property management software, and RealPage Communications, Inc., the leading provider of Internet solutions to the real estate industry. |
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