Multifamily giant JPI first Texas subscriber for RCKRBX rental data
Startup bills its software as real-time source on renter preferences
Real estate research platform RCKRBX has expanded to Texas with multifamily power player JPI aboard as its first subscriber in the state.
Irving-based JPI has developed more than 50,000 apartment units in Texas, with a level of saturation that could help RCKRBX quickly claim ground throughout the state . And, the developer’s influence is poised to further increase.
Terms of the deal were not disclosed, and JPI is not an investor in RCKRBX, the company said.
Earlier this fall, JPI was acquired by a subsidiary of Sumitomo Forestry, a Japanese logging and production company. The acquisition is expected to double JPI’s output from 4,000 units to 8,000 units a year, Nikkei Asia reported. Sumitomo Forestry America will purchase 90 percent of JPI’s shares this month.
Washington, D.C.-based RCKRBX’s product, called SFTR, provides multifamily developers with insight into renter preferences.
SFTR gathers information by surveying current and future renters. It also polls renters by zip code so clients can examine demand data on a local level. Subscribers can in turn use this real-time, demand-side data to tailor their products to the needs and wants of customers.
RCKRBX launched in January 2023 in Washington, D.C., Maryland and Virginia. The company was founded by CEO Michael Broder and COO James Moore. Broder is also the CEO of research firm Brightline Strategies. His background is in political campaign strategy, which informs his approach to real estate data.
“Our research models were born out of the types of research we did in the political world,” Broder said.
RCKRBX plans to expand to North Carolina and Tennessee in the first quarter of 2024, to South Carolina and Georgia in the second quarter and to Massachusetts and New Jersey in the third quarter.