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RealPage, Inc. (NASDAQ: RP) has announced its acquisition by Thoma Bravo in an all-cash transaction valued at approximately $10.2 billion, including net debt. RealPage shareholders will receive $88.75 per share, a 30.8% premium over its closing price on December 18, 2020. The transaction, approved unanimously by the Board, is expected to close in Q2 2021, pending necessary approvals. RealPage will continue operations under its current leadership and aims to leverage Thoma Bravo's expertise to enhance its growth strategy in the complex real estate market.
RealPage, a global provider of software and data analytics for the real estate sector, has launched CommunityConnect Fleet Management for Google Nest Thermostats. This service offers automated syncing with property management systems, allowing operators to control energy usage in unoccupied units. The pilot program demonstrated high demand for smart apartments, achieving 90 pre-occupancy leases in four weeks, reduced energy usage, and increased rental premiums. The collaboration aims to enhance property management efficiency and tenant satisfaction.
RealPage, a prominent provider of software and data analytics for the real estate industry, has announced its participation in two upcoming investor conferences. The conferences include the RBC Capital Markets Global Technology, Internet, Media & Telecommunications Conference on November 17, 2020, and the Stephens Annual Investment Conference on November 18, 2020. RealPage's webcasts for these events will be accessible via their Investor Relations page. Founded in 1998, RealPage serves over 19 million units globally, enhancing the rental experience through advanced technology.
RealPage, Inc. has appointed Brian Shelton as the new Executive Vice President, Chief Financial Officer, and Treasurer, effective immediately. Shelton previously served as the Senior Vice President and Chief Accounting Officer and has been acting as interim CFO since August 2020. With over two decades of experience, he will report directly to CEO Steve Winn. Shelton aims to enhance financial performance, accelerate revenue growth, and improve operational efficiencies to increase long-term shareholder value.
RealPage, Inc. (NASDAQ: RP) has integrated Online Reputation Assessment (ORA™) Scores into its Performance Analytics and AI Revenue Management solutions. This partnership with J Turner Research allows RealPage to utilize top-tier ORA™ scores to enhance revenue management accuracy and benchmark capabilities. Properties with higher ORA™ scores show improved demand generation and closing ratios. With approximately 10.4 million online apartment reviews recorded, ORA™ scores serve as vital indicators for property performance, customer service, and competitive positioning in the multifamily real estate sector.
RealPage, a global provider of software and data analytics for the real estate industry, will report its third quarter financial results for the period ending September 30, 2020, on November 5, 2020, after market close. A conference call to discuss these results will occur at 5:00 p.m. ET on the same day, with a live webcast available through RealPage's investor relations website. The company serves over 19 million units globally and focuses on enhancing asset performance through technology.
RealPage (RP) reports a robust resurgence in U.S. rental apartment leasing for Q3, with a net increase of 146,517 occupied units, surpassing last year’s figures by 8%. This upturn follows a muted second quarter, where only 34,000 units were absorbed. Major demand is noted in Sun Belt metros like Dallas/Fort Worth and Atlanta. However, high-cost areas like New York and San Francisco continue to struggle. The occupancy rate improved to 95.6%, though rents dipped 1.2% year-over-year, averaging $1,419. Despite an impending increase in supply, demand recovery is evident.