Industry Disrupter Gains Resi Client

RANCHO SANTA FE, CA—GlobeSt.com has learned that multifamily developer DLC Residential has joined MREN's collaboration network to manage three development opportunities with a total capitalization of more than $160 million. MREN will enable DLC to upload assets, share and communicate with investors in a secure and private marketplace, thereby preserving personal relationships, while providing online tools to collaborate more efficiently.

As GlobeSt.com reported in June, MREN was introduced by locally based Metis as the first principal-to-principal-only global commercial real estate platform. As we had reported previously, the cloud-based MREN technology is positioned to be the “disrupter” of the $15-trillion commercial real estate industry by supporting principal stakeholders from both sides of a transaction to connect, collaborate and close directly. MREN aims to enable participants to formalize their own private market network within the MREN ecosystem in order to connect, transact and manage real estate investment assets more effectively.

Joy Hou, co-founder and CEO of MREN, tells GlobeSt.com, “MREN is designed to support all stakeholders in the commercial real estate business. We are currently in discussion with operators, developers, private equity funds, lenders, cities, and family offices in all sectors. CRE is one of the most collaborative industries in the world. Every deal is unique and every decision is subjective. By providing infrastructure for deals, organization and industry-level networks, as well as centralizing communication and information, efficiency can be gained by everyone.”

According to Russ Krivor, CEO of DLC Residential, “MREN is really a great alternative to old and inefficient processes found in the commercial real estate industry. This platform is going to disrupt the industry in a big way, and I'm certain it will quickly become the go-to tool for collaborating, managing and transacting deals. We have already added three significant assets to the platform and early reports are very strong—we're looking to the MREN platform to enable us to revitalize the way we manage deals with our investor base, as well as streamlining processes internally.”

Hou says, “Russ and the team at DLC Residential have built a very successful residential-development platform with an impressive track record with returns that are significantly higher than industry norm. Their success is primarily driven by their ability to stay ahead of the curve in the way they both originate and develop high-quality multifamily projects.”