RealPage Inc., provider of AI-enabled software and data analytics to the real estate industry, has completed its acquisition of real estate data intelligence company Cherre.
With Cherre, RealPage customers will gain access to a layer of intelligence built specifically to bridge property-level data with portfolio- and fund-level context, connecting operations to the decisions that depend on them, the company said.
“AI can transform real estate only if it understands real estate,” said Dirk Wakeham, president and chief executive officer of RealPage. “Cherre has built the kind of trusted, governed intelligence that institutional owners and asset managers depend on. Bringing that expertise into RealPage means every customer, whether they manage one property or a global portfolio, gets access to a stronger, more trustworthy foundation for their decisions.”
“We’ve always believed real estate organizations can’t make confident decisions on data alone. They need a trusted, connected meaning behind it,” said L.D. Salmanson, co-founder and chief executive officer of Cherre. “The work we’ve done at Cherre was building toward the moment the industry needed to move from reporting to reasoning. Joining RealPage lets us bring that future to the real asset ecosystem faster, without changing how we work with the clients who trust us today.”
AI is only as reliable as the data beneath it. But a single property can appear as one address in a leasing system, a different unit number in an operations platform and a separate parcel ID in a tax record, with most platforms treating those as three unrelated assets. As a result, even a basic question, such as why the net operating income (NOI) changed at a given asset, cannot be answered with confidence. The data may all be there, but until something resolves those identities and governs what the data means, no AI can reason across it.
Closing that gap requires a foundational layer that resolves data into consistent identities, governs what it means and connects it into a knowledge graph that AI can reason across: why performance moved, what is at risk and where to focus next.
Cherre’s platform resolves more than four billion entities and four trillion dollars in real assets globally into a foundation sourced and governed in a secure, compliant environment that institutional owners depend on.
RealPage brings deep operational scale across the property lifecycle, serving more than 42,000 customers and 24 million housing units worldwide. For the operator running a single property, that same foundation means more reliable revenue signals, faster lease-up insight, and data that stays consistent across every system already in use. Together, the two companies connect what happens at the property with what matters at the portfolio and fund level, spanning all asset classes.
With Cherre, RealPage customers will gain access to a layer of intelligence built specifically to bridge property-level data with portfolio- and fund-level context, connecting operations to the decisions that depend on them.
With RealPage, Cherre customers will gain the scale, resources, and global delivery capacity of one of the industry’s largest technology providers, including expanded engineering and deployment capabilities to take customers from data readiness to AI in production, while continuing to work with the same dedicated team and consultative approach they rely on today.
Kirkland & Ellis LLP served as legal counsel to RealPage. For Cherre, Software Equity Group served as financial advisor and Goodwin Procter LLP served as legal counsel.
