Data analytics company Radix has acquired redIQ, an underwriting software and insights provider for investors, acquisition teams, brokers, and lenders in the multifamily industry.
The financial terms of the deal were not disclosed.
According to Radix, nearly 30% of all multifamily transactions have passed through redIQ and over 500,000 rent rolls were processed in 2023. RedIQ is said to be one of the most reliable sources of market and transaction data in the rental housing sector.
The redIQ underwriting software is expected to enhance Radix’s Benchmark, Research, and Proforma solutions, creating a robust market data resource for investors, owners, operators, acquisition teams, and renters.
RedIQ delivers solutions for financial modelling and optimises underwriting and standardisation processes, enabling subscribers to produce reliable investment returns and close deals.
Radix’s Proforma tool allows organisations to build transaction scenarios based on current market conditions and indicator insights to improve forecasting and predictive capabilities.
The Benchmark and Research solution extends the process by offering micro- and macro-level insights for better visibility into market drivers and supply-demand dynamics.
Established in 2016, the Radix platform streamlines the data analytics process to save time and money, as well as offer greater data consistency and broader collaboration within the organisation.
By integrating redIQ’s revenue and expense data analysis with its own capabilities, Radix will be able to deliver the 360° view needed to execute transactions with accuracy and transparency for all involved parties.
In addition, Radix makes market data publicly accessible through its Renters Portal, empowering consumers with detailed apartment searches and real-time information on promotions, concessions, and availability.
Radix CEO and founder Blerim Zeqiri said: “Integrating redIQ’s underwriting and analytics data with the Radix platform will provide complete asset lifecycle insights for all stakeholders.
“From investment to disposition, our clients will have the data to inform business decisions at every level and every stage of investment. Particularly as the industry faces ever increasing costs to operate and softening market fundamentals, accurate asset valuation and a clear picture of the investment ecosystem will be essential.”
Radix anticipates rolling out innovative product developments and enhancements for its expanded client base in the coming months.
