RealPage CEO Steve WinnRICHARDSON, TEXAS–RealPage has agreed to acquire most of the asset of digital marketing service provider LeaseLabs for approximately $103 million. The cash-and-stock deal also includes a cash earn out provision of up to $14 million upon achieving certain financial objectives.
RealPage plans to enhance its own marketing platform with LeaseLab's functionality, which includes analytics, geo-targeting and digital rights management from PropertyPhotos.com, among other things.
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LeaseLabs provides its services and software to approximately 800,000 units in the multifamily housing industry.
RealPage COO Ashley Glover said that the acquisition will help the company “address the emerging change in spending patterns as our clients shift marketing spend away from indirect lead sources and build long-term equity value in their brand.”
Last year, to the day, RealPage acquired leasing platform On-Site Manager for approximately $250 million in cash.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
