New York — Cleveland-based Management Reports International (MRI) and locally based The REALM will integrate some of their key software and other technologies.
Under the terms of the agreement, MRI will integrate its real estate and asset management software suite with The REALM's remittance processing application via The REALM's Internet-based integration hub. This will give users of MRI software access to REALMCash, a web-based cash management system that allows real estate owners and managers to automate and streamline rent collection and bill payment. The agreement also calls for MRI to jointly market and sell REALMCash to MRI clients.
Matthews, N.C. — Harris Teeter announced that MyWebGrocer will support the locally based grocery chain's online shopping solution, which has been operating since August 2000. MyWebGrocer is a web-based service designed to support the online initiatives of brick-and-mortar grocery chains. It also works with Lowes Foods, Farm Fresh Foods, and a variety of other retailer clients.
Chicago — A new technology company aims to help real estate firms evaluate and choose software solutions for property management, accounting, homebuilding and corporate real estate — for free.
Realize Solutions Inc. actively analyzes software vendors in order to find the most up-to-date software packages and then matches the functions, features, and services to the specific client. It does not charge real estate companies for these services. “With so many new packages on the market, real estate companies are overwhelmed with different marketing messages,” says founder Eva Freud. “Realize Solutions is the real estate industry's answer for free technology advice.”
Atlanta — The e-commerce infrastructure of locally based NetFunding.com has closed more than $150 million in commercial loans since the fourth quarter of 2000, and has $215 million of loan volume as of September 2001, the company announced.
NetFunding.com provides an interactive-platform e-marketplace for borrowers, lenders and brokers of commercial real estate capital. Backed by Atlanta-based IRE Capital Advisors, NetFunding.com was established in 1999 and made its Internet debut in November 2000.
NetFunding.com is an impartial intermediary and not affiliated with any lender. Loans available through the site include permanent loans, bridge loans, construction financing, mezzanine financing, preferred equity, and bond enhancement.
SIDEBAR: LoopNet and First Liquidity join forces
San Francisco — Locally based LoopNet, Inc.'s online commercial real estate financing service and San Diego-based First Liquidity, Inc. have formed an industry-first strategic alliance.
The alliance links LoopLender's online primary mortgage market with First Liquidity's online trading platform for institutions participating in the secondary market for commercial mortgages.
LoopLender, LoopNet's financing service, streamlines and accelerates the new loan origination process, providing borrowers direct online access to lending institutions. LoopNet is the largest commercial real estate listing service online, with more than $130 billion of properties for sale and 225,000 members.
As a result of the new affiliation, LoopLender's participating financial institutions have direct access to First Liquidity's secondary market trading platform, where they can sell whole loans closed in the primary commercial mortgage market.
LoopLender's participating financial institutions will benefit from increased exposure and access to a broad base of qualified traders, potentially yielding more competitive pricing on the First Liquidity platform as inventory and trading volume expand.