Radix, a multifamily market research, performance, and data analytics pioneer, has acquired redIQ, a leading provider of underwriting software and insights for multifamily investors, acquisition teams, brokers, and lenders.
“Integrating redIQ’s underwriting and analytics data with the Radix platform will provide complete asset life-cycle insights for all stakeholders,” says Radix CEO and founder Blerim Zeqiri.
“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. This acquisition is a fundamental step in Radix's mission to create the most comprehensive real estate intelligence platform.”
According to Radix, approximately 30% of all multifamily transactions go through redIQ, with more than 500,000 rent rolls processed in 2023. The redIQ underwriting software will complement Radix Benchmark, Research, and Proforma solutions to establish the most comprehensive market data resource available to investors, owners, operators, acquisitions teams, and renters.
The merger will offer complete asset life-cycle insights ensuring users have the data needed to make informed business decisions at every stage; enhanced forecasting and predictive capabilities by integrating revenue and expense data from redIQ into Radix’s benchmarking tools; and a 360-degree view of market dynamics and property performance, allowing users to execute transactions with confidence, accuracy, and transparency.
Additionally, Radix makes market data public for consumers through its Renters Portal, which allows detailed apartment searches and provides real-time information on promotions, concessions, and availability with prospective renters. This creates a win-win for consumers and operators.
Christopher Ruffolo, executive vice president of asset management for Fairfield, says, “The joining of Radix and redIQ provides the industry a unique and powerful pairing of public and real-time data with end-to-end visibility into the asset life cycle. The latter will provide actionable data and solutions for owners, investors, and ultimately asset management professionals in combination with the robust ecosystem of operating key performance indicators.”
In the coming months, Radix expects innovative product developments and enhancements for its new combined clients.
