SitusAMC buys rSquared CRE in third acquisition since September
SitusAMC continued its acquisition spree, this time picking up rSquared CRE, a commercial real estate technology provider for an undisclosed price.
"The acquisition of rSquared furthers our commitment to provide a consolidated and integrated view of commercial real estate transactions from underwriting the original investment through eventual disposition," SitusAMC CEO Michael Franco said in a press release.
Chicago-based rSquared, which opened just last year, offers valuation, underwriting and asset management software in its rDCF product, in addition to rBudget budgeting and reforecasting software.
SitusAMC was already a commercial mortgage lender and special loan servicer when it acquired Cohen Financial from Truist in September.
That came just weeks after it acquired LogicEase Solutions, the parent company of residential mortgage compliance software provider ComplianceEase.
SitusAMC itself was the product of a June 2019 merger, with both of its components: Situs and American Mortgage Consultants also active purchasers of mortgage industry service providers.
RSquared's management team is being retained by SitusAMC.
"This transaction allows us to integrate into other leading SitusAMC technologies while also accelerating our own development; we believe we can drive unparalleled value for the market," said CEO and co-founder Sal Caldarone, who will still oversee rSquared's product suite following the acquisition.
Other commercial mortgage technology offerings from SitusAMC include its loan lifecycle management system, Closer, and valuation management system, VMS, among others.