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| Richard Matricaria |
CALABASAS, CA -- Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced a strategic partnership that includes an equity investment and commercial relationship with Archer, a venture-backed real estate technology company.
Richard Matricaria, Marcus & Millichap’s
chief operating officer, Western Division, stated: “Our relationship with
Archer is one of the ways we continue to stay on the leading edge within the
proptech space.
"We value Archer’s technology and
the strategic benefits they provide our brokers and clients and took the
opportunity to expand our partnership with an equity investment.”
Archer has developed a comprehensive
commercial real estate software platform that accelerates market analysis, deal
sourcing, and underwriting activities.
It leverages machine-learning algorithms to better parse property
financials such as rent rolls and operating statements and consolidate data
from a multitude of sources to be able to provide immediate performance metrics
for multifamily real estate assets nationwide.
The platform allows brokers to accelerate the market
analysis and underwriting processes for clients.
Thomas Foley
“Combining our market-specific data and
underwriting tooling with Marcus & Millichap’s 52-year history of
technological innovation and market research is part of our mission to make
real estate transactions more efficient through better data, technology, and
local expertise,” said Thomas Foley, Archer’s cofounder and CEO. “Our
platform supercharges investment sales professionals by reducing the time
required to complete a first underwriting from days to minutes.
"This
gives brokers and their investor clients more time to spend on important
analysis to achieve their long-term strategic goals of winning more deals.”
Founded in 2019, San Francisco-based Archer
recently expanded its underwriting platform from multifamily to student and
affordable property types and plans to launch other property types including,
retail, office, industrial, and hospitality in 2024.
The company provides software tools via
a web-based application and directly in a client’s Excel model, training
sessions and on-demand support.
“Marcus & Millichap’s history of adapting
the benefits of emerging technologies to serve commercial real estate investors
aligns with Archer’s predictive analytics and investor-centric approach,” said
Matricaria. “As a customer and also an investor in Archer, we look forward to
extending the benefits of this strategic partnership to our brokers and
clients.”
CONTACT:
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
Member of the National Association of Real
Estate Editors (NAREE)
“PR Strategist for the Commercial Real
Estate Industry: I do what I love and love what I do.”
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