RealPage Acquires Cherre in AI Data Push

Dallas-based RealPage, which provides software for multifamily property management, acquired portfolio intelligence firm Cherre for an undisclosed amount.

New York-based Cherre will keep its brand as it’s folded into RealPage, Cherre founder and chief executive officer L.D. Salmanson told the Commercial Observer. Cherre was founded in 2016, and is aimed at connecting company leaders to property market information that connects individual buildings to a portfolio or fund, providing accurate information that the real estate industry can depend on, the firm claimed in a press release.

RealPage views the acquisition as adding a solid foundation of data to its artificial intelligence software. In the press release, Cherre stated that the underlying data that AI pulls from in the real estate sector “rarely agrees with itself,” noting that individual properties can be listed a number of different ways in backend systems. Basic questions that AI should be able to answer aren’t generating confident results due to the sheer amount of moving parts that are scraped and fed into the analysis. The past data cannot accurately predict why something is happening in the present, and what to do next.

That layer of data is expected to supercharge RealPage’s existing scale, which spans 42,000 customers and 24 million housing units, according to the press release. Effectively, the acquisition connects the forest to the trees, allowing for greater clarity on what moves property owners can make next.

In November 2025, RealPage reached a settlement agreement with the U.S. Department of Justice following a probe into an alleged rent collusion scheme. The company is going through a class-action lawsuit tied to the accusations, with multiple landlords affiliated with the company paying out upwards of $200 million in settlements. In June 2025, Seattle effectively banned RealPage when they set laws against software that gathers property information and uses it to algorithmically recommend rent prices.

— Hunter Cooke