Munsch Hardt represented Axiometrics LLC, a Dallas-based apartment and student housing market research company, in the company’s $80MM sale to RealPage, Inc. (Nasdaq: RP), a global provider of software and predictive data analytics to the real estate industry.
Axiometrics surveys and researches properties in more than 500 apartment markets and submarkets along with 680 colleges and universities nationwide to provide clients with accurate, timely same-store market intelligence. Axiometrics also analyzes data through multiple variables, such as asset class and age, specific competitive floor plans, as well as historical data at an asset level.
MPF Research, a division of RealPage, will be merged with Axiometrics as part of the deal. In addition, RealPage recently entered into a long-term relationship with Real Capital Analytics (RCA), a leading authority on multifamily sales transaction data. The combination of the market information and data analytics between the three entities will create a unique intelligence platform. RealPage expects this platform to be the most-referenced apartment data analytics solution in the U.S.
“Axiometrics changed the way industry participants analyze market research, forecasts and trends in the apartment real estate sector. The sale to RealPage will create a new service platform to better serve the industry,” said Mark Girtz, shareholder at Munsch Hardt and lead attorney on the transaction. “For the past five years Munsch Hardt has enjoyed a strong partnership with Axiometrics. We are pleased with the outcome of the transaction, and we are excited for this new chapter in the life of the company.”
The teams began negotiating terms of the sale in November 2016, with RealPage targeting a closing in first quarter 2017. The Munsch Hardt team assisted Axiometrics and worked quickly to finalize the operative documents and ensure both parties were pleased with the terms of the agreement.
The following individuals were part of this sale team and played key roles in the project: Mark Girtz, Chris Speer, Phil Whitcomb, Q Stephens, Irina Plumlee, Bill Finnegan and Allison Knight, with the assistance of Meg Wingert and Annette Beebe.