16 Oct VTS Announces Acquisition of PropertyCapsule
–Global proptech leader is acquiring top retail software platform–
NEW YORK–(BUSINESS WIRE)–#commercialrealestate–VTS, the commercial real estate industry’s leading leasing and asset management platform, today announced that the company has entered into an agreement to acquire PropertyCapsule, the leading marketing automation and prospecting software used by more than 50% of the top 100 retail landlords in North America. As part of the acquisition, Thomas Byrne, CEO of PropertyCapsule and former President and COO of LoopNet, will join the VTS team in the newly created position of General Manager, Retail Products and Data, where he will oversee the strategic direction and delivery of VTS’ retail product offerings.
“The PropertyCapsule team has done an amazing job creating a best-in-class, innovative marketing and prospecting platform for leading retail landlords and brokerages and I’m thrilled to welcome them to the VTS family,” said Nick Romito, CEO of VTS. “VTS is investing heavily in the retail sector and the combination of PropertyCapsule’s strong market traction and the deep experience of the team made this acquisition an obvious decision.”
PropertyCapsule is used by leasing and marketing professionals at top landlord and brokerage organizations to manage and market retail assets. VTS’ acquisition of PropertyCapsule will enable VTS to offer the most comprehensive leasing management solution for retail landlords, enabling them to impress top prospects and reduce the time from prospecting to store opening. PropertyCapsule helps landlords:
Generate leads through custom-built property search and listing pages
Automatically build professional marketing materials, customized site plans, and interactive maps inclusive of trade area demographics and center details
Easily create property collections or detailed tour books personalized for each prospect
Follow up automatically and share marked-up site plans with prospects
Identify opportunistic locations with a sophisticated mapping and data platform
“We couldn’t be more excited to join the VTS family and continue to build the most powerful solutions for retail landlords,” said Thomas Byrne, CEO of PropertyCapsule and new General Manager, Retail Markets and Data at VTS. “Joining forces with VTS puts us in a position to accelerate growth and continue to deliver software that helps retail owners and brokers market and lease their centers to the changing demand in the market.”
“We’ve been fans of Thomas and the PropertyCapsule team for a long time,” said Ryan Masiello, co-founder and Chief Strategy Officer, VTS. “There’s no doubt that having them join the VTS family will be of tremendous value to our retail clients.”
VTS will be showcasing PropertyCapsule at the upcoming ICSC New York Deal Making Conference in New York City on Dec 10 – 12. For more information on PropertyCapsule, visit www.propertycapsule.com. For more information on VTS, visit www.vts.com
VTS is commercial real estate’s leading leasing and asset management platform, bringing together landlords, brokers, and tenants to make deals happen. VTS software enables office, retail, and industrial landlords and brokers to transform their leasing process and convert leads to leases 41% more efficiently. MarketView™, the industry’s first market benchmarking product gives landlords real-time information to inform deal negotiations and leasing strategies. Completing the VTS platform offering is truva, the industry’s modern marketplace that will be powered by the 11B square feet of space managed on VTS software. truva.com is designed to drive tenant demand for landlords, and remove friction from the leasing process for tenants and tenant rep brokers.
The VTS platform has a user base exceeding 35,000, and boasts an impressive client roster that includes leading organizations such as AR Global, Blackstone, Boston Properties, Brookfield, InvenTrust Properties, Time Equities, Washington REIT, Wheeler Real Estate Investment Trust, Bayer Properties, RPT Realty, Waterstone Properties Group, JLL, and CBRE.