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Apartment demand is expected to continue outpacing supply

Redfin Strikes $608M Deal for RentPath

Redfin, headquartered in Seattle, has agreed to acquire RentPath, the Atlanta-based owner of ApartmentGuide.com, Rent.com, and Rentals.com, for $608 million in cash. The two companies say the deal will bring together a leading site for buying a home with a leading site for renting a home, providing more options for users.

“RentPath has more than 20,000 apartment buildings on its rental websites, and grew its traffic more than 25% last year,” said Redfin CEO Glenn Kelman. “We can almost double that audience, as one in five of Redfin.com’s 40+ million monthly visitors also wants to see homes for rent. Together with RentPath, we can create an online destination for every North American to find a home.”

Redfin expects RentPath’s rental listings to be on Redfin.com in late 2022. The deal is subject to approval by a bankruptcy court; RentPath filed for Chapter 11 protection in Delaware last year.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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