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M/PF Research Expands Apartment Market Coverage

(May 16, 2000) – M/PF Research, Inc., the premier provider of market research to the apartment industry, has introduced in-depth quarterly reports for the South Florida, Denver and Austin markets beginning with 1st quarter 2000. Reports were added for Atlanta and Phoenix at year-end 1999.

M/PF continues to publish its in-depth local report for Dallas/Fort Worth and its U.S. summary report that tracks 57 markets nationwide.

“M/PF has an exciting new initiative and strategic direction,” said G. Ronald Witten, president of M/PF. “Since becoming a wholly owned subsidiary of RealPage, Inc. last July, we have charted an aggressive expansion program for M/PF’s apartment databases, reports and market research.”

Over the balance of this year and 2001, M/PF will add detailed local apartment market research coverage in three to four new cities each quarter.

To accomplish this challenging rollout of market research efforts, M/PF has decided to discontinue its service to the D/FW commercial real estate markets. Accordingly, M/PF has reached an agreement to sell its commercial real estate databases and web applications to Dallas-based Roddy Information Services (RIS), Inc. These databases cover the office, industrial and retail markets and contain detailed building characteristics, space availability and rental rates on more than 10,000 buildings throughout the Dallas/Fort Worth region. Plans call for continued quarterly updates of the information and distribution of these results in an online form. In addition, DFW Real Smart, the database search engine that provides subscribers with Internet access to submarket and building-specific data, has been purchased by RIS as well.

“We concluded that because of our expansion and commitment to the apartment housing industry, we simply couldn’t maintain the quality level that our clients expect and deserve in our D/FW commercial real estate research,” said Witten. “Since Roddy and M/PF have both been serving the local real estate community since the 1960s, this transition is not only a logical one but also one that we hope will prove to be smooth for M/PF’s loyal clientele.”

This acquisition significantly expands Roddy’s real estate reporting coverage in Dallas/Fort Worth. Best known for its existing web sites (www.roddyreport.com and www.dfwforeclosures.com) and the industry benchmark, Roddy Report, RIS will now monitor space availability and rental rates and will provide access to these large databases at www.dfwrealsmart.com.

“We’re excited to be able to broaden the scope of real estate information we can offer our clients in Dallas/Fort Worth,” said George Roddy, president of RIS. “When we can expand by acquiring an operation with such a high-quality product and reputation in the market, we think that our clients will see an immediate benefit.”

Since 1961, M/PF Research has been the trusted national expert in apartment market research. M/PF is retained by investors, developers, owners and lenders to prepare project-specific market studies and to produce broader, strategic market selection analyses and reports. M/PF Research, located in Carrollton, Texas, is a wholly owned subsidiary of RealPage, Inc., a leading provider of property management products and services. For more information on M/PF, visit its web site at www.mpfresearch.com.

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