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In May, Real Data Management, one of the veteran players on New York’s commercial real estate technology scene, was acquired by Boston-based property-management software firm Building Engines. It was the latest sign of consolidation in CRE tech, a sector of real estate that is getting a lot of attention — and investor interest.
Building Engines’ acquisition of RDM is part of a series of moves it’s looking to make nationally, using private-equity capital to put together an integrated platform for commercial real estate users. Watch the video above to hear The Real Deal‘s Hiten Samtani interview the leaders of both companies on the perils of startups accepting too much money too soon and the evolution of CRE tech.