WASHINGTON (May 10, 2012) - Second Century Ventures, the strategic investment arm of the National Association of Realtors®, has sold ePropertyData (ePD) to Xceligent to create a competitive national alternative in commercial real estate information.
Xceligent will leverage ePD’s commercial information exchange (CIE) solution to help expand its existing coverage of fully researched commercial real estate information into the largest U.S. markets. ePD provides commercial real estate information in markets across the country and powers NAR’s current national public commercial real estate search platform, which already contains more than 200,000 active lease and sales listings. ePD’s research tools will be enhanced and incorporated into Xceligent’s research center.
Doug Curry, CEO of Xceligent, said “We are pleased SCV chose Xceligent as the home for this great asset as we continue to build a strong national alternative for commercial real estate information. Combining these two extraordinary teams creates a strong foundation for the expansion of our product development team and allows us to deliver best of breed technology and information to the industry.”
“Given that Realtors® are at the heart of the deal, we want to significantly expand and enhance the public search capabilities beyond what is available today to give industry professionals more exposure than they’ve ever had,” said NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami. “Combining the experience of Xceligent and ePD was an obvious move for us in this sector’s next chapter.”
Allen Benson, Founder and CIO of ePD, said, “Our development capabilities are the perfect match to Xceligent’s research capabilities and industry presence.”
The ePropertyData acquisition is the first in a series of steps intended to bring best-of-class technology offerings and additional data to accelerate the enhancement of Xceligent’s product offering and expansion of its footprint. In addition to its CIE product offering, ePD has developed key tools including its parcel centric research component, investment and geospatial tools, and marketing tools such as a brochure builder.
About Second Century Ventures
Second Century Ventures is the strategic investment arm of the National Association of Realtors® focused on promoting innovation in the real estate industry and helping the entrepreneurial spirit of real estate to thrive. With over 1 million members, NAR is the largest trade association in the country. NAR can provide immediate strategic value to Second Century Ventures portfolio companies by allowing them access to the vast resources of a 300-person organization with the expertise, influence and power that comes only by being ingrained in an industry for over 100 years.
Xceligent, Inc., a leading provider of commercial real estate information services, is based in Independence, MO and has 210 employees. Leveraging an efficient, research-focused model, Xceligent provides commercial real estate professionals with accurate and timely information on commercial real estate availabilities. Xceligent currently provides information services in 30 major U.S. metropolitan markets.
ePropertyData is a leader in CIE and Commercial Multiple Listing Service technology.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.
Information about NAR is available at www.realtor.org. News releases are posted in the website’s “News and Commentary” tab.