HOUSTON, TX, April 4, 2008 – ARGUS Software today announced the formation of a partnership with RIISnet LLC to launch ARGUS Transaction Zone powered by RIISnet, a next generation broker-driven transaction platform with industry changing implications. This electronic marketplace provides equal and efficient access and communication between buyers and sellers of real estate and a streamlined methodology for completing real estate transactions. The innovative platform significantly enhances cross-market transactions by creating a secure, standardized pathway for the global matching of buyers to sellers, or sellers to buyers.
“Such a solution is particularly timely as the commercial real estate industry is searching for new paths to improve profitability through efficiency and savings in the midst of challenging market and economic conditions,” says Mark Kingston, president and chief executive officer of ARGUS. “In addition to the benefits of completing more deals in shorter cycles than ever before, this revolutionary platform will provide a transparency of property data and market supply that will materially advance real estate as an asset class, taking the industry one step closer to the transparency, liquidity and participation that today is exclusive to stocks and bonds.”
Kingston notes that the transaction platform goes well beyond the typical property listing service to provide a full engagement process where buyers and sellers can align strategic objectives through features such as live acquisition and disposition alignment. “Pairing this dynamic, ‘Real-Time’ transaction platform with our existing product suite, which includes the globally recognized standards in areas such as asset valuation, asset management, and development pro formas, ultimately serves to reduce risk within property deals and the industry as a whole” adds Kingston. “The global convergence of data, standards and methodologies continues and ARGUS Software is committed to enabling this movement.”
“RIISnet’s patented innovations represent a true paradigm shift in transactional efficiency,” says Jeff Smith, RIISnet founder and chief executive officer. “In addition, as data and transactions aggregate within this confidential, invitation-only forum-- moderated by property brokers and owners-- opportunities will be created for unheard of analysis into supply and demand as well as key transactional market fundamentals.”
“The commercial real estate market has been moving toward an electronic marketplace solution for years,” comments Mark Rose, chairman of RIISnet LLC and formerly CEO of Grubb & Ellis Co., and COO of Jones Lang LaSalle. “Once I reviewed the RIISnet technology, I knew immediately that it was the fruition of what other market leaders and I had been looking for. The RIISnet technology and transactional work flow are extremely impressive, and the alliance with ARGUS, one of the strongest names in real estate technology and services, offers the commercial real estate industry a comprehensive solution that promises to accelerate efficiency at all stages of the commercial real estate transaction.”
This partnership is yet another installment in the plan rolled out two years ago by ARGUS Software to expand its global reach and market leadership. Thus far, ARGUS has completed two acquisitions and introduced several new products including ARGUS Lease CRM and ARGUS Development Budget. Last month, ARGUS also announced a partnership to market an OSCRE compliant appraisal reporting product.
Media Contacts:
Jennifer Brenner Andrade
SVP of Marketing
ARGUS Software
713-341-3630
jandrade@argussoftware.com
About ARGUS Software
| ARGUS Software provides universal software and service solutions that reveal, optimize and realize value for the commercial real estate industry. ARGUS Software's products have become the industry standard and provide the complete solution for managing and growing your commercial real estate portfolio. More than 8,000 of the industry's leading owners, managers, financial institutions, brokerages and REITs trust ARGUS Software solutions to improve the visibility and flow of information throughout their critical business processes. These processes include property management, asset valuation, portfolio management, budgeting, forecasting, reporting and lease management. |
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