Industry NewsTechnology

NAR plans national commercial real estate platform

Group's tech incubator acquires ePropertyData

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A National Association of Realtors tech incubator company has acquired a commercial real estate data exchange company and plans to use its technology to launch a national commercial real estate listing and transaction platform in May. Second Century Ventures LLC, a private equity fund established by the Realtors trade group supported by a membership dues increase this year, acquired Gig Harbor, Wash.-based ePropertyData. EPropertyData operates for the 4,500-member Commercial Brokers Association in Seattle and for the 2,000-member commercial division of the Houston Association of Realtors. "Through this acquisition, NAR will provide its members with two important new services -- a robust national commercial real estate listing and transaction platform, and a broker-centric solution provider for the (commercial information exchange) industry," NAR President Dick Gaylord said in a statement. Gaylord said the platform will off...