VTS acquires Rise Buildings
VTS, a commercial real estate leasing, marketing, and asset management technology platform, today announced it has entered into an agreement is to acquire Rise Buildings.
Rise Buildings is the property operations and tenant experience technology company used by landlords including Blackstone, Hines, and CIM Group. Rise Buildings provides a platform for end-to-end occupant experience and property operations. By utilising multiple hardware and software solutions it generates critical insights from tenant engagement, building management and activity.
The acquisition will broaden VTS’ existing offerings for landlords and is the next step in VTS’ continuing effort to ensure landlords have the technology they need to operate as efficiently as possible and create the best environment for tenants during the Covid-19 recovery and beyond.
Rise’s technology is currently used by landlords across the United States and globally – with operations in Europe, Africa, and Central America, to manage property operations and deliver a superior property experience for tenants as well as property managers. By integrating tenant experience and property operations, Rise's unique approach is optimising occupant engagement across Rise-enabled buildings. Its solutions include access and visitor management, health and safety, property operations, and tenant experience. Rise integrates directly with in-place building management systems, access control, and sensor systems, as well as amenities and elevators, generating advanced data and analytics to enhance property asset management.
Nick Romito, CEO at VTS, says: “In acquiring Rise, VTS will continue to expand and strengthen the value our customers already receive from our platform, with new capabilities that will be more critical than ever as landlords focus on renewing existing tenants and reducing vacancies in the coming months. By integrating Rise into the VTS offering, our aim is to redefine the category of tenant experience and provide landlords with a full-service platform that continues the journey of digitising the entire asset experience. After an extensive evaluation, we believe Rise has the right approach, technology, and team; our landlord customers agreed and welcomed the decision.”
As part of the acquisition, Prasan Kale, CEO and co-founder of Rise Buildings, will join the VTS team in the newly created position of Managing Director, where he will oversee the strategic direction of Rise within VTS. Rise customers will benefit from expanded support and R&D investment to deliver even more capabilities. VTS expects to integrate Rise into the VTS global platform at a future date, enabling VTS customers to manage their portfolio-wide leasing, tenant engagement, and building management activities from a unified platform. This will allow landlords to understand their portfolios and tenants at a level that’s never been possible before, provide COVID-compliant visitor and employee access, and best position them to renew existing tenants and sign leases in a challenging market.
Kale says: “We’ve long admired Nick and the VTS team, particularly for the way they’ve modernised our industry’s approach to leasing and asset management. Joining forces with VTS will give us the ability to accelerate the delivery of the best-in-class technology offerings landlords need now more than ever to emerge from COVID-19 unscathed. This combination positions us for future growth, and ensures tenants have the information and capabilities to return to work safely.”
Michael Newman, President and CEO of Golub & Company, says: “The combination of Rise and VTS is a big win for landlords. As a landlord familiar with both companies, I believe this acquisition will be instrumental in giving the industry enhanced portfolio insights that will help us connect with tenants and occupants in more meaningful ways. With VTS and Rise together, we will improve the property experience for everyone and get ahead of executing renewals and new leasing opportunities in a particularly challenging market.”