While real estate agents chase leads and close deals on houses, there’s another level of deal-making that takes place within the real estate industry: mergers, acquisitions, integrations and partnerships.
We’ll be recapping every week’s noteworthy deals that didn’t make it into print (and some that did) for your perusal.
This week’s deals
May 2
Moderne Ventures announced the closure of an early stage investment fund totaling $33 million from partners within its network of more than 300 companies to pour into real estate technology. The venture firm is also introducing the Moderne Passport Program, a seven-month immersion program for technology companies of all stages and sizes who need help connecting with a wider consumer base and access to industry leaders.
RealtyeVest, Formerly IHT Realty Group, unveiled their new brand and optimized website. The new RealtyeVest website provides a simple, secure and transparent platform for accredited investors, real estate developers and owner-operators. “Our decision to rebrand from IHT Realty Group to RealtyeVest was a result of listening to feedback from our strategic partners and observing best practices in the industry,” said Daniel Summers, CEO. “We believe our new name better represents the essence of our business, and we are excited about the innovative technology that powers our new online marketplace. We spared no expense in the new build, providing a win-win to our investors and Sponsors.”
The New York State Association of Realtors (NYSAR) has partnered with Down Payment Resource (DPR) to give it’s 53,000 Realtor members access to a searchable national databank of homebuyer programs they can employ to assist homebuyers. This down payment program search tool will allow New York State’s Realtors to search and review eligibility and benefit details of all homeownership programs in New York, helping them connect their buyers with available programs. “Every day New York’s Realtors educate and help guide first-time buyers through the process of purchasing their home,” said Duncan R. MacKenzie, CEO of NYSAR. “The Down Payment Resource search tool will help our members connect more consumers to programs that will help them make homeownership a reality.”
May 3
Fifth Wall Ventures, a venture-capital firm founded by two industry vets raised $212 million from industry giants to back startups with products that its investors can use to grow their businesses. It’s deployed $60 million of the fund so far, leaving an additional $142 million to distribute to startups that play their cards right.
The Houston Association of Realtors/HAR.com(HAR) has signed a multiyear license with Remine to bring Big Data and Predictive Analytics to more than 36,000 real estate professionals throughout the greater Houston area. “Remine will provide agents with powerful new data based tools that will improve the way they provide service to their customers, identify new listings, connect with buyers and stay in touch with their clients,” said HAR Chair Cindy Hamann in a statement.
Re/Max is introducing the first Canadian online tool for mapping residential properties to school catchment areas across Canada. Re/Max’s new school tool can be found at remax.ca.
Former high-volume Re/Max Broker Sal Calabrese is leading the launch of the newest major addition to the Realty Executives system, Brooklyn-based Realty Executives Metro. According to Calabrese, a 36-year veteran on the NYC real estate scene, the move was a strategic one. “We believe that the future success of our real estate brokerage will require becoming more integrated with technology, which is why we chose Realty Executives after more than ten years with Re/Max,” explains Calabrese.
Email deals and partnerships information to press@inman.com.
