Toronto-based RealServus, a proptech investment and management services firm, has acquired online brokerage Property.ca, which includes the Condos.ca and MrLoft.ca brands.
“We are thrilled to bring Property.ca and its 250+ productive agents under the RealServus umbrella as they embody the values of our company and the offering we provide,” says Ron Peddicord, president and co-founder of RealServus. “The technology and innovation fueling each site are ground-breaking. And now, under the RealServus umbrella, we can provide the capital investment needed to fuel ongoing technological innovation and add services and expertise to help them flourish. These investments will help them become the most advanced lead generation tech brokerage in the country and expand into new market segments including new construction.”
Launched in 2014, Property.ca along with its brands Condos.ca and MrLoft.ca have more than a million registered site users and over $1 billion in sales volume in the last year, says RealServus in a news release.
“With the support of investors, including a significant investment from Round13 Capital, RealServus is Canada’s leading privately held company focused on increasing market share within the residential real estate sector. This latest acquisition adds to a growing portfolio of proven brands and ancillary service providers that support the industry,” the company says.
“The residential real estate and proptech sectors have been on our radar for some time now, and we are thrilled to partner with RealServus to build the leading platform in the space,” says Brahm Klar, partner at Round13 Capital. “The team at RealServus shares our vision around the potential for this market and has the experience needed to execute on the opportunity.”
Peddicord says, “This acquisition is a major milestone in our plan to invest in individual proptech-enabled brands in the Canadian residential real estate market.”
The transaction has closed. Terms were not disclosed.