RealPage Expands M/PF Research Product Line With Acquisition Of RE-Opt
(June 16, 2004)—RealPage, Inc. today announced a major expansion of the M/PF Research product line, adding further tools to help multifamily property owners and operators fine-tune pricing strategies and enhance revenues. This extension of M/PF’s products has been facilitated with the acquisition of RE-Opt, a company focused on revenue optimization systems for the multifamily sector. M/PF thus gains access to RE-Opt’s proprietary market response pricing engine for multifamily communities.
Furthermore, M/PF picks up RE-Opt’s seasoned management team, which is experienced in the development and implementation of revenue optimization products. Jeffrey Roper, the former president of RE-Opt, will assume overall management responsibility for M/PF Research.
“M/PF Research has created a trusted position in the marketplace, offering clients a reliable picture of market fundamentals in order to provide key insights when making investment decisions and forming operational strategies,” said Mr. Roper. “We’re excited to add RE-Opt’s expertise in revenue optimization systems to M/PF’s arsenal. Our market response engine helps property owners better anticipate spikes and valleys in demand so that prices can be proactively adjusted to optimize revenue. The results produced by this pricing system reach a whole new level of sophistication when you merge in statistics from M/PF’s vast database, which shows the impact of pricing on demand performances in nearly 60 metropolitan areas over more than 10 years.”
M/PF’s revenue optimization systems will interface with all popular property management systems, including OneSite, Rent Roll, AMSI, MRI, and Yardi.
M/PF Research will continue to offer (1) quarterly publications that track apartment market trends on the metro and neighborhood levels, (2) customized analysis for new development or property acquisition, (3) regional educational conferences, and (4) the Multi-Housing Outlook, an interactive forecast of market fundamentals produced in conjunction with Torto Wheaton Research. “M/PF’s products have evolved throughout the company’s 43-year history, moving from raw data that our clients incorporate into their decision-making processes toward more in-depth analysis and specific recommendations,” said Greg Willett, M/PF’s vice president of research products. “Revenue optimization tools are the next step in that evolution, filling a need expressed by our clients for more sophisticated pricing evaluations that take into consideration both today’s conditions and tomorrow’s outlook.”
The acquisition of RE-Opt compliments two previous acquisitions that RealPage, the parent company of M/PF Research, has made in the revenue optimization area. YieldStar was acquired in 2002 and eventually grew into a product called Market Analyzer, which M/PF has been marketing for nearly a year with several hundred properties using the system. Rent Wizard was acquired in 2003 to gain access to the traffic response models and renewal optimization capabilities developed by AMLI Residential.
“By combining M/PF Research and RE-Opt, we’ve brought together some of the very best minds in the multifamily sector into a large organization with the commitment and resources to make a profound impact on the industry,” said Steve Winn, chief executive officer of RealPage. “For years, other industries have utilized advanced supply/demand forecasts to help optimize pricing, and M/PF now will be able to assist the multifamily sector in optimizing revenue. There’s no question that companies using M/PF products will be positioned for enhanced bottom line results, and this management team brings the experience and expertise to deliver these sophisticated new products to market.”
About M/PF Research
M/PF Research provides revenue optimization and market intelligence products and services to multifamily housing owners and developers. It maintains the largest database of accurate and timely apartment market information in the industry, offering investors, developers, owners, and lenders the information and insights needed to make sound business decisions. For more information, please visit www.mpfresearch.com.
M/PF’s parent company, RealPage, Inc., provides property management products and services to more than 20,000 apartment communities across the United States. RealPage’s OneSite is an on-demand property management system that streamlines site-based business processes such as screening, leasing, and resident management, and automates back-office accounting and portfolio management. CrossFire is an on-demand property marketing system that automates and enhances the process of capturing and entering leads, provides tools for retaining residents, and provides a convenient means for residents to sign up for utilities and other services.