Connect Media Acquires ApartmentBuildings.com, Listing Service for Multifamily Sales
Connect Media, a multi-vertical news, events, creative services and educational company, acquired a majority ownership in ApartmentBuildings.com, a national multifamily listing service company. Financial details of the transaction weren’t disclosed. Scott Furman, founder of ApartmentBuildings.com, has joined Connect Media’s team, serving as president of ApartmentBuildings.com.
“Taking a majority ownership in ApartmentBuildings.com changes the face of our commercial real estate division, Connect CRE,” said Daniel Ceniceros, CEO and founder of Los Angeles-based Connect Media. “The addition of an industry-leading multifamily sales listing platform diversifies our business model and provides us with high-impact data and analytics to better serve the industry. It’s an exciting move that will substantially expand Connect Media’s four divisions and the services we provide to the industry.”
Ceniceros emphasized that the focus of ApartmentBuildings.com is on delivering a robust listing platform to provide a “real time”window into the availability of multifamily assets in a given market. The platform provides multifamily owners a dynamic and affordable digital tool to promote multifamily sales listings.
Investors, brokers, REITs, private equity firms, developers, and family offices utilize the sales channel to efficiently find and purchase apartment properties across the U.S. Since its introduction to the market in 2017, ApartmentBuildings.com has facilitated millions of searches and marketing assignments for multifamily properties in all 50 states.
Furman said, “Joining forces with Connect CRE allows the apartment listings platform to tap into Connect’s arsenal of tools including creative services to help market properties, numerous conferences where we can connect with investors, and its more than 250,000 news readers will drive increased awareness of ApartmentBuildings.com. This was an ideal marriage on our part and I’m looking forward to what this move will bring as we take ApartmentBuildings.com to new heights.”
He noted that the site is particularly engaging for investors, as it allows them to: • Search and make offers on multifamily listings across the country • Negotiate fair market values for properties • Access to portfolio details to make more informed investment decisions • Analyze trends within the industry and sector and predict future opportunities • Get notified as soon as properties meeting their requirements become available • Have “first pick” of pocket listings • Save multiple searches for easy and quick access • Communicate clearly and quickly with brokers/sellers • Close deals fast • Search for other multifamily assets and make competitive decisions accordingly • Monitor the multifamily market and establish trends around price, location, buildings, and other influential elements for listings
“The multifamily sector requires a leading-edge listings platform to efficiently bring to market multifamily properties today,” Furman concluded. “The industry’s adoption of ApartmentBuildings.com reflects the way sellers quickly find motivated investors for their property listings across the country. With the Connect CRE team behind us, we expect to accelerate growth because we have more marketing power, as well as the resources of a larger team to support us, which will work to expand our reach exponentially.”
The Connect team believes that improving the user experience is paramount. Over the next three months, the site will be redesigned with the user experience in mind. The team will also be creating content around the latest apartment news and trends and the do’s and don’ts of investing in apartments.
Additionally, the team will be working with owners and brokers to integrate sale availabilities into Apartmentbuildings.com. Currently the team is creating a plan to reach potential apartment investors to utilize the site.
At present it’s free to list your for-sale apartment building, to conduct searches and create an account to save results. Once a user creates an account and saves their search, they will receive emails with new listings that fit the search criteria.
“We know that the most difficult thing is finding the property, a person to represent you and getting a loan,” said Ceniceros. “Then it is finding the right property manager to run the property for you. We plan on adding these features to the site that help investors have a great user experience.”