RealPage Acquires RealHound.com and Announces OneSite© Portfolio
(August 29, 2002)—RealPage, Inc., a leading provider of property management products and services, today announced that it has acquired substantially all of the assets of RealHound.com, which develops and markets portfolio analysis and reporting systems for the commercial and multifamily real estate industries. RealPage will continue to maintain, enhance and support the RealHound software offered to real estate brokers, appraisers, advisors and lenders. In addition, the company will use RealHound technology as a basis for a vastly expanded portfolio analysis and reporting tool for apartment owners and managers called OneSite Portfolio.
According to Paul Mitnick, chief product officer of RealPage, “RealHound is the foundation for OneSite Portfolio, which enables multifamily owners and managers to analyze the performance of a portfolio of apartment communities in real time. Property performance can be measured using 75 standard reports or any number of custom reports for any grouping of properties within a portfolio. The system allows instantaneous access to virtually all operating data included in most popular property management systems.”
Bob Talbott, senior vice president of operations for Essex Property Trust, Inc., added, “We are delighted to be one of the first REITs to implement OneSite Portfolio. Our installation is less than a month old and we have been able to automate the preparation of many of our portfolio operating reports. Additionally, we will be able to analyze trends and historical information in a fraction of the time it used to take.”
“This is great news from our perspective because RealHound software will now be supported by a national firm that is committed to interfacing the product with multiple property management platforms, with no disruption to our management reporting,” said Warren Davis with MidAmerica. “We are rolling out OneSite Portfolio across our portfolio, and are extremely excited by the opportunity to get instantaneous access to highly relevant information about our properties, competitors and markets. The extraordinary reporting should enable us to uncover inconsistencies in performance, and the product will be a cornerstone of asset/portfolio analysis and reporting.”
Andrew Blount, principal for RealHound.com, will join RealPage’s product development group. “RealPage has the sales, implementation, training and support infrastructure in place to accelerate deployment of our technology on a national scale,” said Blount. “This provides my development team and me with more resources and talent to continue developing great products for the industry. In addition to continuing to enhance our portfolio management system, the RealHound development team that worked on the YieldStar system will be working to incorporate improvements that were discovered in early testing at Camden Property Trust into OneSite Revenue Management.”
About RealPage, Inc.
RealPage is the leading provider of products and services to the multifamily industry. Headquartered in Carrollton, Texas, a suburb of Dallas, with an office in Burlington, Vermont, RealPage provides more than 21,000 apartment communities across the United States with products and services that handle the entire management process for both affordable and conventional properties, including leasing, applicant screening, market intelligence, accounting, budgeting, property management, facilities management, revenue management, portfolio management, marketing and compliance reporting.