Second Century Ventures, the strategic investment arm of the National Association of Realtors, has sold ePropertyData (ePD) to Xceligent to create what it calls a competitive national alternative in commercial real estate information.
Xceligent will leverage ePD’s commercial information exchange (CIE) services to help expand its existing coverage of fully researched commercial real estate information into the largest U.S. markets. ePD provides commercial real estate information in markets across the country and powers NAR’s current national public commercial real estate search platform, which already contains more than 200,000 active lease and sales listings. ePD’s research tools will be enhanced and incorporated into Xceligent’s research center.
Doug Curry, CEO of Xceligent, said “We are pleased SCV chose Xceligent as the home for this great asset as we continue to build a strong national alternative for commercial real estate information. Combining these two extraordinary teams creates a strong foundation for the expansion of our product development team and allows us to deliver best of breed technology and information to the industry.”
“Given that Realtors are at the heart of the deal, we want to significantly expand and enhance the public search capabilities beyond what is available today to give industry professionals more exposure than they’ve ever had,” said NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami. “Combining the experience of Xceligent and ePD was an obvious move for us in this sector’s next chapter.”
Allen Benson, Founder and CIO of ePD, said, “Our development capabilities are the perfect match to Xceligent’s research capabilities and industry presence.”
The ePropertyData acquisition is the first in a series of steps intended to bring best-of-class technology offerings and additional data to accelerate the enhancement of Xceligent’s product offering and expansion of its footprint. In addition to its CIE product offering, ePD has developed key tools including its parcel centric research component, investment and geospatial tools, and marketing tools such as a brochure builder.
NAR arm sells ePropertyData to Xceligent
May 11, 2012