Yardi Systems, a commercial and residential real estate software firm based in Santa Barbara, Calif., has acquired New York-based data firm PropertyShark.

PropertyShark operates a popular website that provides detailed reports on commercial and residential properties, foreclosure listings and sales comparables, along with maps and photographs. Yardi specializes in real estate investment and property management software.

“PropertyShark’s aggregation of real estate data from hundreds of sources into a single property research website has changed the way real estate investors, professionals, and consumers educate themselves and make decisions about property in hubs like New York and Los Angeles,” said Gordon Morrell, Yardi’s executive vice president and chief operating officer.

"Yardi acquired PropertyShark to expand the service nationally, strengthen our suite of products, and provide our clients with fully integrated access to detailed property information,” added Morrell.

“When I founded PropertyShark in 2002, I wanted access to the hard-to-reach property information held by sellers, city agencies and brokers so I could make informed decisions about real estate investments I was considering,” said Matthew Haines, PropertyShark’s founder.

“To see the concept taken from one neighborhood in New York City into the hands of one of the largest and most successful real estate software companies is a victory for everyone involved in buying, managing and selling real estate based on transparent and comprehensive research,” said Haines.

Yardi’s clients can be found globally, from North America to Asia, Australia and Europe. Its website is www.yardi.com.