RealPage announced that it has agreed to acquire substantially all of the assets of CRE Global Enterprises, LLC, a holding company for Hipercept.
Hipercept provides data services and data analytic solutions to institutional real estate owners with over $500 billion in assets under management operating in the US, Asia, Canada and Europe, addressing the incredibly complex problem of aggregating, reporting and benchmarking real estate across multiple asset classes, property management platforms and external data sources. Clients include major banks, pension funds, insurance companies and asset management firms. Hipercept supports these clients with offices in New York, Boston, Medellín and London.
Asset & Investment Management Solution
Hipercept offers both a cloud-based commercial and multifamily real estate valuation cash flow forecasting product called FUEL, and an extensive data warehouse, data governance and analytics platform called Foundation. Upon completion of the acquisition, which is expected within approximately 30 days, RealPage plans to begin marketing a combined Asset & Investment Management platform that integrates its existing Portfolio Asset Management and Portfolio Investment Management products with Foundation and FUEL.
Steve Winn, Chairman and CEO of RealPage said, “With the addition of this acquisition to RealPage’s previously developed capabilities, RealPage will offer an integrated platform to serve the end-to-end needs of an institutional real estate and alternative asset owner. No longer will customers need to cobble together applications and services to run their business. RealPage can offer a complete solution, supported by managed services, to run their entire operational process.”
Damien Georges, Founder of Hipercept said, “We are excited to join RealPage and to be able to provide the product platform and managed services offering that we believe an institutional owner needs to power their front and middle office. We have worked to develop products and managed services that are entirely complementary to RealPage’s existing solution offering. We are retaining all of our staff and all Hipercept offices will remain open, so we can continue to provide the same excellent level of service our clients are accustomed to.”
