Two of the more notable real estate tech platforms in the senior living space are merging.
Richardson, Texas-based RealPage, which offers property and real estate management software and services for a range of real estate sectors including senior housing, announced it is acquiring G5, a provider of digital marketing, advertising and analytics solutions to the real estate sector.
Founded in 2005, Bend, Oregon-based G5 serves over 8,300 sites, with strong footprints in multifamily, senior living and self-storage. The software as a service (SaaS) platform leverages machine learning to automate marketing decisions and customization at scale. Customers can use G5 to increase property performance, reduce tenant acquisition costs and minimize friction in the renter experience, driving higher net operating income.
RealPage’s platform gives the ability to submit service requests to landlords and pay rent online, and provide a foundation for building owners to conduct financial management and manage expenses. It also maintains a database of real estate transactions, and uses the data to conduct market research and forecasts.
From a senior housing perspective, RealPage can be used to document and report incidents, allowing providers to identify trends and reduce the risk of future incidents. It can also be used to automate care management, automatically calculate care fees and manage community census counts by automating move-ins and move-outs.
Terms of the deal were not disclosed, and the transaction is expected to close during the third quarter of 2021, subject to closing conditions.
This is the latest move by RealPage since Chicago-based private equity firm Thoma Bravo announced plans in December 2020 to buy the company and take it private, in an all-cash transaction deal that values RealPage at $10.2 billion. Thoma Bravo completed the acquisition in April.
Sales and operator transitions
Atlas Senior Living assumed ownership and operations of an assisted living and memory care facility in St. Petersburg, Florida to its portfolio. The community, formerly known as Bloom at St. Petersburg, has been rebranded as The Goldton at St. Petersburg, and will feature Atlas’ signature programming such as Freedom Dining, SPIRIT Memory Care, and The Academy.
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The acquisition brings Atlas’ total portfolio to 30 communities in Alabama, Florida, Georgia, Kentucky, South Carolina, and Tennessee, offering independent living, assisted living, and memory care services. Additionally, development of a community in Texas is ongoing.
Cushman & Wakefield (NYSE: CWK) and Spanish commercial real estate services firm, Savills Aguirre Newman, completed the €35 million sale ($41.3 million US) of Forum Mare Nostrum, a retirement village in Alicante, Spain, to Care Property Invest, a real estate investor in Schoten, Belgium. This is believed to be one of Spain’s first major investments in senior…