Radix, a pioneer in multifamily market research, performance, and data analytics, announces the acquisition of redIQ, the leading multifamily industry provider of comprehensive underwriting software and insights for investors, acquisition teams, brokers and lenders.
Approximately 30% of all multifamily transactions pass through redIQ, with more than 500,000 rent rolls processed in 2023, making it one of the most accurate sources of market and transaction data in rental housing. The redIQ underwriting software will complement Radix Benchmark, Research and Proforma solutions to establish the most comprehensive market data resource available to investors, owners, operators, acquisitions teams and renters.
“Integrating redIQ’s underwriting and analytics data with the Radix platform will provide complete asset life cycle insights for all stakeholders,” said Radix CEO and Founder Blerim Zeqiri. “From investment to disposition, our clients will have the data to inform business decisions at every level and every stage of investment. Particularly as the industry faces ever increasing costs to operate and softening market fundamentals, accurate asset valuation and a clear picture of the investment ecosystem will be essential. This acquisition is a fundamental step in Radix’s mission to create the most comprehensive real estate intelligence platform.”
For the past 10 years, redIQ has provided trusted solutions to financially model and streamline underwriting and standardization to help subscribers to produce reliable investment returns that allow decision-makers to close deals with confidence. Radix Proforma enables organizations to build transaction scenarios based on current market conditions and leading indicator insights, enriching forecasting and predictive capabilities. Radix Benchmark and Research pick up the process from there, providing micro- and macro-level insights for a comprehensive visibility into driving market factors and supply and demand dynamics.
By incorporating revenue and expense data and analysis from redIQ into Radix capabilities, Radix stands out as the only company positioned to increase competition by providing the 360° view required to execute transactions with confidence, accuracy and transparency for all parties.
Radix also makes market data public for consumers through its Renters Portal, which empowers detailed apartment searches and provides real-time information on promotions and concessions, availability and the like with prospective renters. This creates a win-win for consumers and operators.
Christopher Ruffolo, EVP of Asset Management for Fairfield, stated, “The joining of Radix and redIQ provides the industry a unique and powerful pairing of public and real-time data with end-to-end visibility into the asset life cycle. The latter will provide actionable data and solutions for owners, investors, and ultimately asset management professionals in combination with the robust ecosystem of operating KPIs.”
Radix expects innovative product developments and enhancements for its new combined clients in the coming months.
SOURCE: BusinessWire