NEW YORK CITY—Berkeley Point Capital has become the first lender to join the client base of redIQ, the multifamily data analysis provider said Friday. The firm, which was founded as ResiModel and recently rebranded, already has amassed a client base that includes deal teams at some of the industry's leading brokerage firms and at eight of the top 50 multifamily investors.
“While we initially gained significant traction among both multifamily acquisitions and investment sales teams, our plan has always been to expand into other segments of the industry that receive and analyze property operating data from outside parties,” says Elliot Vermes, CEO of New York City-based redIQ. “In recent months, the platform has been adopted by a number of prominent real estate appraisers.
“Given the volume of deal flow processed by loan origination teams, attracting a major lender was a natural progression. With Berkeley Point, one of the largest agency lenders in the country, redIQ has taken another major step toward becoming the standard for the flow of all data passed between parties in real estate transactions.”
The redIQ platform offers data parsing and processing tools that enable clients to extract and convert rent rolls and operating data into a standardized format within seconds, and an analytics suite that enables multifamily professionals to identify trends and anomalies using sophisticated charts and analytical tools. In the coming months, redIQ plans to roll out significant platform upgrades to create a central hub for different parties involved in multifamily transactions to share and access standardized operating data.
Today's low-interest-rate environment, Vermes says, “has encouraged a multitude of real estate owners to pursue property refinancings, and our platform enables lenders to analyze those deals more efficiently. Our continued ability to attract users at some of the country's most prominent lending, investment and brokerage firms serves to the highlight the market need for a more effective method of data flow, as well as our ability to improve processes. We're currently in talks with several other national lenders, and we're eager to sign them up and help a propel a larger portion of the industry forward.”
“While we initially gained significant traction among both multifamily acquisitions and investment sales teams, our plan has always been to expand into other segments of the industry that receive and analyze property operating data from outside parties,” says Elliot Vermes, CEO of
“Given the volume of deal flow processed by loan origination teams, attracting a major lender was a natural progression. With Berkeley Point, one of the largest agency lenders in the country, redIQ has taken another major step toward becoming the standard for the flow of all data passed between parties in real estate transactions.”
The redIQ platform offers data parsing and processing tools that enable clients to extract and convert rent rolls and operating data into a standardized format within seconds, and an analytics suite that enables multifamily professionals to identify trends and anomalies using sophisticated charts and analytical tools. In the coming months, redIQ plans to roll out significant platform upgrades to create a central hub for different parties involved in multifamily transactions to share and access standardized operating data.
Today's low-interest-rate environment, Vermes says, “has encouraged a multitude of real estate owners to pursue property refinancings, and our platform enables lenders to analyze those deals more efficiently. Our continued ability to attract users at some of the country's most prominent lending, investment and brokerage firms serves to the highlight the market need for a more effective method of data flow, as well as our ability to improve processes. We're currently in talks with several other national lenders, and we're eager to sign them up and help a propel a larger portion of the industry forward.”
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