X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SEATTLE-ApartmentComps LLC is wheeling and dealing these days. The Seattle-based online real estate startup not only announced a new local client yesterday in Pinnacle Realty Management, but also has a services deal in the can with San Francisco-based Rent.net and is hard at work on a marketing deal with Atlanta-based RealEstate.com.

At Apartmentcomps.com, brokers enter the name, address or intersection of a property, and the Website produces a map pinpointing the location of the 20 closest properties, and provides links to facts about unit sizes, rent prices, rent per foot and age of the property. Subscribers pay about $30 per month for unlimited access to the service, which helps them analyze the financials of prospective acquisitions.

The deal with Pinnacle was bound to happen. Sanchez is a former executive of the company, and current Pinnacle chairman Stan Harrelson is to date the company’s main investor, though another angel-funding round is in the works. Harrelson says Pinnacle is paying for the ApartmentComps service because it improves workflow in the brokerage department, which has handled $250 million worth of multifamily building transactions since the beginning of the year.

The deal with Rent.net, part of Cendant Corp.’s Move.com conglomeration, will allow ApartmentComps.com to provide photos and floor plans of apartment buildings in its database. The deal has been closed but not yet announced, Sanchez told GlobeSt.

Looking forward, ApartmentComps is deep in negotiations with RealEstate.com, an Atlanta-based residential real estate services company just now expanding into commercial real estate. ApartmentComps will provide Real Estate.com’s paid membership with discount access to Apartmentcomps.com. In exchange, ApartmentComps.com will be featured in Real Estate.com’s new section for commercial property buyers and sellers.

The ApartmentComps.com database now covers the densest metropolitan areas in six states: Florida, Georgia, Texas, California, Arizona and North Carolina. Arizona, Colorado, Washington and Oregon are next on the list, though not necessarily in that order.

“Even though we’re local, we don’t have local information yet,” ApartmentComps founder and chairman Dan Sanchez tells GlobeSt. “To avoid the irony, we may put Washington and Oregon at the top of the list.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.