CRE technology company Yardi announced that it had purchased Planimetron, a vendor of technology to manage space, occupancy, and performance data. Financial terms of the deal were not released.
Yardi will "rebuild and rebrand" the Planimetron space management product Propidex as Space Manager. It will become part of Yardi CommercialEdge.
"Space Manager will allow commercial real estate owners and managers to store, edit and share floor plans and site plans from one centralized location," a company press release said. As part of CommercialEdge and then also working with Yardi Elevate asset management applications, Space Manager can aid in marketing, leasing, forecasting, facilities, and construction operations.
The tool was originally a visual tool and resumable it still will be. Owners and operators could interact with dynamically created floor plans, create detailed stacking plans, find time-sensitive space availability, display potential tenant locations, use mapping and charting to create cross-property risk and opportunity analyses, identify tenant issues, and more.
There were three different versions of Propidex: online, running off cloud computing using Microsoft Azure; mobile via an iPad app, and enterprise using an on-premises server.
Something not mentioned in the press release was Planimetron's other product, Corpidex, which provided visual support solutions for commercial and corporate real estate users.
"We are excited to welcome the Planimetron team to Yardi," the release quoted Arjun Rao, senior director of commercial for Yardi. "This team brings a wealth of knowledge and experience about commercial real estate, especially with regard to space management within properties.
Yardi has been busy, releasing new features and products this year. For example, in May, Fannie Mae and Yardi announced that borrowers would be able to send rent roll and operating statement data through the latter's software. In July, WeWork announced its space management software built in partnership with Yardi. Also in that month, Yardi added more tools to its coworking and flex space offerings. August brought a new product, RentCafe CRM IQ, for multifamily operators to manage relationships with customers and prospects. And then in September, the company announced that its electronic health record product is now integrated with a third-party product that will give the former the ability to directly acquire data from medical devices.
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