 | ||
|
As part of the deal, Roofstock also purchased Stessa, the leading asset management software-as-a-service solution for SFR investors, which had been owned by JLL’s technology division, JLL Technologies (JLLT), since January 2018.
“The
single-family rental asset class is seeing strong demand from our investor
clients – both private and increasingly institutional – and this
investment will position our teams to offer unique insights and access to
opportunities in this space,” said Richard Bloxam, CEO, Capital Markets
of JLL.
 |
| Yishai Lerner |
"We
see a strategic investment coupled with a commercial partnership as the best
approach to offer state-of-the-art services to our investors seeking SFR
exposure,” said Yishai Lerner, Co-CEO, JLLT.
The transaction is strategic for both parties. Through this commercial partnership, JLL can now immediately offer clients the ability to access the U.S. SFR market at scale, backed by a robust suite of services that deliver a near seamless transaction and portfolio management experience.
 |
| Gary Beasley |
The incorporation of Roofstock’s “real estate investing cloud” into JLL’s existing enterprise enables JLL’s clients to invest in U.S. residential real estate at scale, speed and with precision.
Roofstock will also
gain access to JLL’s global footprint to fuel its continued growth, creating a
new pipeline of activity that benefits all users of its real estate
marketplace.
“We are excited to work together with JLL to
help service JLL's clients in the SFR space, and accelerate Roofstock’s
domestic growth and global expansion,” said Gary Beasley, co-founder and
CEO of Roofstock and 30-year real estate veteran.
“We are also thrilled to welcome the talented
Stessa team to Roofstock and are excited to integrate their asset management
and accounting software into our retail product offerings.
"The
relationship with JLL directly supports our efforts to make real estate
investing more seamless and accessible.”
Stessa
is a natural addition to the Roofstock marketplace and a strong complement to
the existing suite of services Roofstock offers investors.
Roofstock will make Stessa available to the high
volume of investors who transact through the proptech’s platform each month.
 |
| Heath Silverman |
Using
Stessa, investors can automate income and expense tracking, maximize profits
with visual dashboards and detailed reports, and save time with tax-ready
financials.
“We are thrilled to
join forces with Roofstock, which is leading the way in making the
single-family rental asset class more accessible to investors,” said Heath
Silverman, co-founder and CEO, Stessa.
“Stessa can leverage Roofstock’s proprietary data to help
investors make smarter, more informed decisions and seamlessly buy and sell
properties through Roofstock’s marketplace.
"Together, we will be able to offer comprehensive owner
services saving investors both time and money throughout every stage of the
real estate ownership lifecycle.”
The acquisition by JLL in 2018 and
subsequent incubation enabled Stessa to expand its platform and reach, becoming
one of the leading solutions available to rental property owners.
For more news, videos and research
resources on JLL, please visit our newsroom.
CONTACT:
Kristen Murphy
JLL
Senior Manager
Public
Relations
Phone: +1
617 848 1572
Email: Kristen.Murphy@am.jll.com
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