SCOTTSDALE, AZ-Locally based Pierce-Eislen, a supplier of property and market-level research and reporting of multifamily trends, has been acquired by Yardi Systems Inc., which provides real estate software products to the apartment sector. Pierce-Eislen sought out the merger with the Santa Barbara, CA-based Yardi to support an “aggressive growth strategy,” says company founder Pierce-Eislen Ronald Brock Sr.
“This union will help us bring the industry’s most complete and fully bundled information source to a national audience,” Brock notes. “Yardi’s recognized superiority in the real estate industry was a perfect fit, both synergistically and culturally.”
Launched in 2001, Pierce-Eislen provides apartment industry data at the property, market, regional, and national levels to subscribers including apartment owners, property managers, investors, brokers, lenders and securities fiduciaries responsible for market trend analysis and status. The company currently reports on all apartment communities in 57 markets over 50 units in size. Pierce-Eislen employees will remain in Scottsdale.
Yardi Systems was launched in 1984 as a small start-up; these days it designs, develops and provides support to proprietary real estate investment management nad property management software. The multinational operation serves clients worldwide with help from some 2,000 employees.
“We are excited to welcome the Pierce-Eislen team to the Yardi family and to bring their unique real estate market reporting capabilities to serve our industry,” says Gordon Morrell, executive vice president and chief operating officer for Yardi.