JLL Spark has invested in Dealpath, a provider of cloud-based technology for evaluating and managing real estate transactions.
Based in San Francisco, Dealpath was one of the first real estate deal management softwares on the market, released in 2014. The platform now supports over $500bn in transaction volume with hundreds of leading institutions across the world.
The platform brings together deal information, property data and transactional documents into a single workspace for deal execution. It does this largely through its many integrations, with the likes of Compstak, Ipreo, Google Street View and Maps, and Dropbox. This means comp data, investor relations, photos, maps, demographic data and more can be accessed via the Dealpath platform.
By combining these tools and providing workflow automation and reporting, Dealpath’s platform eliminates manual and repetitive tasks and delivers ROI of more than 475% a year, according to the company. By automatically collecting and formatting data into custom real estate templates, users reduce Deal Turn Around Time (TAT) by an average of 87%. Dealpath also states customers have reduced due diligence and underwriting errors by 18% through improved communication, centralised information and process standardisation.
“Dealpath’s deal management platform is central in the evolution of real estate software services,” said Mihir Shah, co-CEO of JLL Spark. “We believe JLL clients, real estate investors and developers will see great benefits from using its proprietary technology and approach to data-driven and collaborative transaction management to improve the efficiency of evaluating, managing and completing real estate transactions.”
“It’s impressive and exciting to see Dealpath’s growth and focus in supporting the daily work and decision-making of investment teams,” said Joe Weishaar, director of fund management at L+M Development, a client. “The platform fosters better, more informed investment decisions and allows us to reallocate time to value-add activities. Working closely with JLL Spark is a natural fit.”
JLL Spark’s strategic investment in Dealpath will fuel continued growth by providing industry-leading experience, networks, and resources globally. “We’re thrilled to work closely with the JLL Spark growth team to help clients leverage the Dealpath platform to achieve optimal outcomes. JLL Spark and Dealpath share a similar view of the built world and are committed to continually raising the bar to provide best-in-class services to help high-performing investment teams build value,” said CEO Mike Sroka.