Meet The Companies That Are Helping KIG Analytics Create A Higher Standard Of Analytics Service
Bisnow partner KIG Analytics is pulling back on its consulting work, but that’s no cause for alarm. It's just focusing on building a web-based product platform that can deliver an even higher level of analytics with a combination of the open source data the company frequently uses and proprietary data. To get the latter—which is internally generated—KIG Analytics has started networking and formed strategic partnerships with some of the most impressive data companies out there.
“As we continue to refine our index platform, which will indicate the institutional investment grade of each multifamily asset, we seek out strategic alliances with data partners,” says KIG Analytics founder Susan Tjarksen. But who are these strategic partners?
Seeking to revolutionize the deal information analysis of the $250B in annual US multifamily transactions, Elliot Vermes (pictured, right, with product development VP Art Melikyan) founded ResiModel in 2013. Now with over 75 clients and 4,000 transactions entered, ResiModel has quickly become the leading platform for evaluating multifamily transactions.
The online, subscription-based service—which allows users to process, analyze and store rent rolls and operating data—seeks to make users’ lives easier by improving the accuracy and speed of underwriting, allowing them to unlock hidden value and increase the productivity of their team. The platform also applies sophisticated data visualization algorithms to help real estate professionals glean valuable insight from the facts and figures contained in these documents.
With a user base that includes deal teams at CBRE, JLL and ARA Newmark, the company has attracted some big investors, including a number of prominent venture capital firms and commercial real estate executives. Most recently, Elliot spoke with Bisnow about an investment from Symmetrical Ventures, a tech venture capital firm led by former BlackRock vice chairman and CFO Paul Audet. Although Elliot didn’t say how much the contribution was, he did mention that the firm had closed a total of $4M in funding even before opening its Series A funding round.
“Traditionally, real estate analysis was a very arduous process, involving countless hours of data entry and other non-value-add activities,” Elliot says. “Our platform has gained traction in markets across the US because of how easy it makes analyzing property information that firms receive from other parties. With an automated rent roll upload service that digitizes the data, and the intuitive graphs and charts that our platform creates, real estate professionals are able to efficiently analyze potential investment opportunities and identify trends and anomalies.”
Helping institutional real estate owners and operators make better decisions and reduce risk, Megalytics gives users access to multiple data sources—both public and proprietary—through an automated Software as a Service (SaaS) platform with real-time data feeds, proprietary algorithms and scoring. From acquisition on, the client can engage with Megalytics' platform along every step of the asset management life cycle. Priding itself on quickly providing users with hard, objective data, the Megalytics team identifies and pulls the most current, relevant information, enabling commercial real estate decision makers to understand and minimize transaction risk for new and renewing tenants, or for tenants in potential acquisitions or loans.
“As due diligence windows narrow,” Megalytics CEO Donna Salvatore (pictured) tells Bisnow, “our ability to deliver assessments with extremely quick turnaround is of prime importance and value to our clients."
Megalytics has recently guided landlords on tenant leasing decisions that had involved fraud and misrepresentation, and was asked to do an assessment on a franchisee looking to rent space in South Florida from a major commercial real estate company. Megalytics went beyond traditional financials and found the owner of the franchise stated that he was also a financial adviser to an ex-NFL player. In researching news articles and public records, Megalytics found that the franchisee was being sued by his client for writing 37 checks, totaling $275k, 32 to himself and five to cash. The company also uncovered the fact the franchisee was not a financial adviser but rather a bartender in a South Beach Hotel. As a result of the assessment, the client decided not to rent to the franchisee, when they were prepared to go ahead with the lease prior to the assessment.
To learn more about our Bisnow partner, click here.