RealPage Acquiring Hipercept: Details About The Deal You Should Know

By Amit Chowdhry ● June 13, 2019
  • Real estate software and data analytics company RealPage announced it is acquiring the assets of CRE Global Enterprises including Hipercept
  • Hipercept provides data services and data analytic solutions to institutional real estate owners with over $500 billion in assets under management

Real estate software and data analytics company RealPage has announced that it agreed to acquire substantially all of the assets of CRE Global Enterprises, LLC — which is the holding company of Hipercept. Hipercept is known for providing 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.

Hipercept addresses the complex problem of aggregating, reporting and benchmarking real estate across multiple asset classes, property management platforms, and external data sources. Its clients include major banks, pension funds, insurance companies, and asset management firms. Plus Hipercept offers both a cloud-based commercial and multifamily real estate valuation cash flow forecasting product called FUEL along with an extensive data warehouse, data governance, and analytics platform called Foundation.

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“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,” said RealPage chairman and CEO Steve Winn in a statement. “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.”

Upon the closing of the acquisition — which is expected to happen within 30 days — RealPage plans to begin marketing a combined Asset & Investment Management (AIM) platform that integrates its existing Portfolio Asset Management (PAM) and Portfolio Investment Management (PIM) products with Foundation and FUEL.

“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,” added CRE-GE CEO Damien Georges. “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.”

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After the acquisition, RealPage will be able to offer its existing commercial and multifamily clients with a fully integrated valuation capability with FUEL, which will supplement and significantly expand the Underwriting Analytics product RealPage released last year. This combination is expected to create the industry’s only fully integrated platform that aggregates and manages data across the entire investment lifecycle for real estate and alternative investments.

“We will be ready to go to market with a fully integrated Asset & Investment Management (AIM) solution at the time we complete this transaction, allowing us to offer a full range of investment management lifecycle products,” explained RealPage SVP of Asset Investment Management Alan James. “We plan to couple the portfolio modeling capabilities of PIM with the asset cash flow forecasting and valuation functionality of FUEL, while combining the robust reporting analytics engine of PAM with the Foundation data warehouse. Additionally, we will be able to offer managed services including partner management, valuation process management and ongoing integration management. I am also truly excited that this transaction will enable us to continue our international expansion, especially into the European market.”

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RealPage was founded in 1998 and is headquartered in Richardson, Texas. And the company currently serves more than 12,100 clients worldwide from offices in North America, Europe, and Asia.