Two global proptech leaders are joining forces to simplify and speed environmental, social, and governance (ESG) strategy across multifamily and rental portfolios.
Richardson-based RealPage, a leading provider of real estate software and data analytics, is partnering on the effort with San Diego-based Measurbl—which provides “the world’s most widely adopted ESG real estate tech.”
The companies’ relationship with center on three key areas: technology integration, professional services, and big data analytics. Their goal is to enable owners of commercial, multifamily, affordable, senior, university, and other real estate to meet their sustainability goals and mandates.
Simplified ESG automation is a key client need
“Our customers are making big ESG and sustainability commitments that require expertise, market insights and simplified automation,” said Kamal Qatato, SVP Smart Building Solutions for RealPage, in a statement.
Qatato says that by joining forces, RealPage and Measurabl will bring best-in-class solutions to market, connecting boardroom strategies and asset management to advanced automation across leasing office and maintenance work order systems.”
Decarbonization, reporting, and compliance toolkit
In the fight against climate change, real estate companies have a role at the forefront—and the new partnership aims to help make a difference, says Matt Ellis, Measurabl’s founder and CEO.
“Decarbonizing real estate—the world’s largest asset class and one of its most environmentally and socially impactful—relies on a marriage of ESG with traditional real estate value metrics,” Ellis said in the statement.
“By bringing RealPage’s financial, operational and sustainability solutions together with Measurabl’s comprehensive ESG solution, we’re able to deliver a uniquely powerful decarbonization, reporting, and compliance toolkit.”
Real estate ESG is big business—and multifamily residents are driving the need
More than 1,500 entities and nearly 117,000 individual assets now participate in GRESB ESG benchmarking. And multifamily projects play a huge part, comprising 75% of the total zero energy residential inventory in the U.S. and Canada.
Meanwhile, multifamily residents are demanding more from landlords and developers. In the 2020 NMHC Kingsley Renter’s Preference Survey, 73% of respondents said they are interested in—or won’t rent an apartment without—sustainability and green initiatives being implemented at the property.
Shifting the aspirational to become ‘truly day-to-day operational’
By combining RealPage’s solutions with Measurabl’s ESG platform and services, the two companies aim to shift the aspirational to become truly day-to-day operational, Qatato added.
“Our partnership is ultimately about helping more of our customers that are expense-conscious and time-strapped reap the profitable benefits of sustainability quicker and more easily,” Qatato said.
The companies released their first offering today—and plan to roll out further solutions quickly as they move forward.
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