LoopNet acquires REApplications

Deal valued at $9.4 million

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LoopNet, a large online commercial real estate marketplace, has acquired privately-held REApplications, a provider of on-demand brokerage operations software. LoopNet purchased REApplications for an aggregate cash consideration of $9.4 million, according to a company announcement. San Diego-based REApplications offers products for managing market research including property inventory, listings & comparables, commission management, customer relationship management, project tracking and transaction management. REApplications will operate as a wholly-owned subsidiary of LoopNet and the existing senior operating executives of REApplications will all remain post-acquisition, according to a company announcement. REApplications clients include Lee & Associates, Coldwell Banker Commercial, Grubb & Ellis | BRE, Colliers Turley Martin Tucker, Cushman & Wakefield LePage, GVA Advantis and Integra Realty Resources. The LoopNet marketplace covers all commercial property categories,...