CRE Data Firm Xceligent Files Chapter 7

Xceligent’s parent company, London-based Daily Mail and General Trust plc, abruptly shuttered operations of the U.S. division and filed for chapter 7 bankruptcy liquidation. The roughly 250 employees of the Kansas City, MO-based commercial real estate data firm were notified Thursday of the decision, and were asked to immediately vacate.

Xceligent’s board decided to dissolve the company following a strategic review. The Daily Mail recently wrote down the value of Xceligent to zero, partly due to lower revenues following its expansion into New York and declining renewal rates. The decision to file bankruptcy also follows a year-long legal battle with CoStar Group Inc.

Xceligent’s assets will be distributed by a chapter 7 court-appointed trustee that will also assume responsibility for the litigation. Xceligent was a division of Stamford, CT-headquartered DMG Information.

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Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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CRE Data Firm Xceligent Files Chapter 7

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CRE Data Firm Xceligent Files Chapter 7

Inside The Story

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