Reonomy

Reonomy operates a commercial real estate (CRE) data platform covering U.S. commercial property and ownership records. The platform aggregates title and assessor records, geospatial data, demographic information, debt and lien filings, transaction history, and corporate ownership filings, and applies machine learning to match disparate records to a single property record and to the underlying owner. A central use case is "piercing" LLCs and holding companies to identify the individuals behind a property and surface phone, email, and mailing contacts for outreach.

Product access is offered through a web application, bulk data feeds, and API connections. Feature areas advertised include ownership data and ownership portfolios (all properties and entities an owner controls), property characteristics (square footage, property type, year built, lot size), full transaction, debt, lien, and refinance history, occupant/tenant location data, and county and MSA-level coverage. The company also markets a "likelihood to sell" predictive score that analyzes ownership tenure, debt position, transaction history, and market signals to rank properties most likely to transact within 12 months.

Reonomy was acquired by Altus Group Limited (TSX: AIF) in November 2021 for $249.5 million; Altus Group is a Toronto-headquartered provider of software, data, and consulting services for commercial property owners and operators. The Reonomy brand and product continue to be marketed at reonomy.com.

Business model

Subscription software and data licensing. Reonomy sells access to its CRE data set via a self-serve web application on monthly or annual subscription plans, with annual plans described as saving 30%, and via bulk data feeds and API connections priced through its sales team.

Recurring subscription revenue, with published web app pricing starting at $400 per month on an annual subscription for access to 53M+ U.S. properties, plus custom-priced bulk data feed and API contracts.

Traction

The platform advertises coverage of 53M+ commercial properties, 68M+ property transactions, 5.2M+ companies, and 30M+ owner and contact records; its predictive model is described as refined by feedback from thousands of CRE professionals.

Latest developments

Reonomy continues to market its web app, API solutions, and bulk data feeds, including machine-learning-based property record matching and a "likelihood to sell" predictive score. Parent Altus Group terminated a separate proposed acquisition of Situs Group's commercial real estate valuation and advisory services (REVS) business in May 2024 after concluding it was unlikely to receive timely FTC approval, paying a US$3 million termination fee.