Building Engines, Inc. Acquires Real Data Management (RDM)
Building Engines, the Commercial Real Estate (CRE) industry’s innovation leader in intelligent building operations software, today announced its acquisition of Real Data Management (RDM), pioneer of best-in-class building measurement and space visualization software and solutions.
RDM empowers CRE landlords, investors, brokers and managers to better understand and visualize the full potential value of their buildings. Customers have realized immense value through real-time, cloud access to their property floor plans, tenant lease information, and ability to instantly create planning scenarios that create greater efficiencies in leasing, asset, and property management. The company delivers hard, quantifiable ROI along with proven experience.
As only four percent of CRE owners and asset managers consider themselves highly effective technology users according to a recent study by Building Engines and BOMA, the need for data visualizations to help interpret operating data has never been more important.
The company’s expertise in CRE space management and its proprietary technology will deliver the same capabilities to Building Engines’ 600 customers who operate and manage over 23,000 buildings. They will have the opportunity to increase revenue and utilization of their existing square footage and the ability to visualize essential operating data with the combined offering in the very near future.
“We’re excited to welcome RDM to the Building Engines family,” said Building Engines CEO Tim Curran. “Not only is their software entirely unique, but its intuitive functionality is also used daily by CRE firms to better visualize and optimize their rentable space. Together with Building Engines’ robust suite of intelligent building operations tools, we will bring to market the best way for property teams to maximize asset value. Our forthcoming combined solution will far surpass static, two-dimensional stacking plans, and lifeless, tabular grids currently used for CRE property management.”
RDM’s flagship product, RealAccess, commands a dynamic, up-to-date cloud repository of drawings, interactive floor plans, documents, stacking diagrams, leasing tools, and analytics. Its technology is used throughout the life-cycle of a building, from acquisition through leasing, operating and finally, disposition. The company specializes in building measurement services, digitizing as-built floor plans and area analysis and scenario planning of existing real estate in accordance with all standards of measurement, including BOMA & REBNY measurement guidelines. They also create visual emergency action plans and instant building and leasing marketing plans.
“The RealAccess platform is an integral part of our leasing process and asset management,” said Brian Feil, Vice President of Leasing at The Feil Organization. “The platform has helped us achieve additional value at each property level by remeasuring assets and growing Rentable Square Footage (either BOMA or REBNY standards). Having a direct API to our accounting software provides quick access to important information in a way that is very easy to digest.”
This is the second acquisition for Building Engines in less than a year, following their successful acquisition and integration of AwareManager.RDM will now operate as “RDM, a Building Engines company.” The company will maintain the current RDM New York office and team, with CEO and Founder, Peter Boritz, joining the Building Engines team with a mission of expanding the current RDM offering and integrating the products.
To accelerate the integration of RDM software with the Building Engines system, the firms will leverage the open API of PrismTM by Building Engines, a new, modern property management platform announced earlier this month. Together, this will bring a new level of data visualization to property operations.
“RDM has continually worked towards a mission of helping real estate professionals work faster and smarter,” said Boritz. “We recognized the same priorities and values in the Building Engines team. I’m proud for RDM to be joining forces with the backing, reinforcement, and resources of this CRE technology powerhouse, world-class organization.”
“Building owners can maximize the value of their CRE technology investments by connecting information across the building operating life cycle,” said Building Engines Chief Product Officer, Daniel Cozza. “We’re excited to bring a unique solution to CRE. The combined capabilities created from this acquisition will deliver powerful efficiencies to the operating phase of a property, solving several critical needs for owners, asset managers, property managers, and their teams. RDM complements our own drive to continue pushing the envelope in bringing intelligent building operations to market.”