Breaking Property News – 23/01/24
Daily bite-sized proptech and property news in partnership with Proptech-X.
Leaders Romans Group acquires Stirling Ackroyd and Alexander & Co, marking LRG’s first acquisitions of 2024
Press Release – January 23, 2024 Leaders Romans Group (LRG) has acquired Stirling Ackroyd, Alexander & Co and Peter Ball, residential sales, lettings and surveying businesses operating multiple branches across London, Surrey, Oxfordshire and Gloucestershire.
The acquisition of these brands adds significant growth to areas LRG already cover but is under represented in, supporting its continued growth plans. All branches will remain under their current brands. Nick Dunning, CEO at Stirling Ackroyd and George Thomas, CEO at Alexander & Co, will leave their respective businesses after a short transition period. All remaining team members will transfer to LRG.
Matthew Light, Group Mergers and Acquisitions Director at LRG, said: “Stirling Ackroyd represents our second largest acquisition with 31 branches, with Alexander & Co’s ten branches also joining the LRG group of brands in the same week. Stirling Ackroyd is a fantastic business that increases our share of the London market, particularly on the lettings side.
“The acquisition of Alexander & Co follows a long relationship with George Thomas, which has enabled us to reach an agreement when the time was right for both parties to work together. The acquisition brings high-quality lettings business and a strong presence in the sales market in the towns where they trade.”
Michael Cook, Chief Executive Officer at LRG, commented: “Starting 2024 with the acquisition of three fantastic, well-known, and respected brands cements our five-year strategy, focusing on growth across the UK. I’m delighted to welcome all new team members to the LRG group.”
George Thomas, CEO at Alexander & Co, added: “Alexander & Co and Peter Ball are well-established businesses that have been helping people let and buy homes for over 50 years. Our three core business values of being personal, proactive and ethical blend perfectly with those of LRG, and I am confident our clients and team will thrive as part of the wider LRG group.”
Proptech Buildium selects Beekin to provide AI-powered rental pricing to help small landlords optimize revenue
Beekin Inc., a developer of Artificial Intelligence platforms for rental housing investors and lenders, today announced a partnership with Buildium, the premier property management platform for small and medium-sized property owners, which is wholly owned by RealPage, Inc. Beekin provides software tools that help investors, lenders, and property management companies underwrite and optimize portfolios of apartments and single-family homes.
“Data and analytics are vital to outperformance in the real estate investment world, at a time of uncertainty and rising costs” Michael Mauseth, SVP/GM Mixed Use Division at RealPage said. “We are thrilled that Beekin has joined our partner program to provide valuable AI powered tools to our customers.”
Beekin aggregates millions of data points from property management software, listing sites, location datasets, and more. Beekin AI tools analyse the data to optimize decision-making with key insights, such as when a tenant may be expected to move out. This data-driven approach takes the guesswork out of pricing rentals and finds the best tenants for each unit. As a trusted real estate analytics pioneer, Beekin will help Buildium deliver progressive solutions to the siloed and fragmented information facing rental housing operators today.
Vidur Gupta, Founder and CEO of Beekin said, “Buildium is a market-leader in the SMB multifamily and single family rental space, and more than 5,000 high quality and growth oriented rental housing firms trust Buildium to deliver outcomes across the asset lifecycle. Together with the Buildium marketplace, we hope to deliver better tools to these companies who create vital housing supply in the United States at a time when it is needed the most.”
Buildium is the only existing property management solution that also helps real estate portfolio managers easily find new business from property owners and community associations seeking services. Founded in 2004, Buildium services over 17,000 customers in more than 50 countries, totalling approximately 2 million residential units under management. For more information, visit Buildium.com
Beekin is a decision intelligence platform designed for institutional investors and lenders in the rental housing sector. Through patented software for rent valuations, revenue optimization and rental indexation, Beekin’s platform is boosting NOI, increasing customer retention and driving operational efficiencies across underwriting and asset management.
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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