Mynd Property Management, an Oakland, CA-based property management company powered by on-the-ground experts and technology, acquired HomeUnion, a company that enables investing in small residential properties in 20 U.S. markets.
The amount of the deal was not disclosed.
The acquisition follows Mynd’s recent merger with RentVest, which doubled its property management footprint to more than 8,000 small residential rental units in a total of 16 markets and aligns with the company’s long-term goals of becoming a full-service real estate investment solution in the top 50 most investable markets in the U.S., and managing 1 million units.
Led by Don Ganguly, President, HomeUnion has developed INVESTimate, an online home valuation tool that allows users to determine the investment potential of any home in the U.S., taking into account a variety of factors, including supply and demand trends, metro-level employment and neighborhood quality using AI and machine learning.
Led by Colin Wiel, Co-Founder, Chairman and CTO, and Doug Brien, CEO and Co-Founder, Mynd Property Management is a property management firm serving the small residential sector via a team of on-the-ground property management professionals and technology to boost net operating income (NOI) for property owners, while improving the rental experience for residents.
Currently, the company has over 8,000 units under management in 16 markets nationwide and plans to expand its platform in 2019 to provide real estate investors with access to income-generating properties in markets with strong employment and rental growth.