Real estate software solutions provider MRI Software announced it has acquired TCAM Asset Management, an asset and portfolio management, advisory and consulting services firm that works with owners, investors and public agencies in the affordable housing space.
MRI explained in a press release that bringing TCAM’s and its software-enabled services into the fold allows the company to “provide managed and consulting services for all major stakeholders in the affordable housing lifecycle – from financing and development to asset, investment and property management.”
Currently, TCAM provides services to clients for more than 1,600 properties and 176,000 apartment units across 48 states,
Prior to the acquisition, TCAM was using MRI’s Investment Central as part of its asset management offering.
“TCAM has been an MRI client for 10 years and, throughout our relationship, we have been highly impressed by the team’s deep expertise in affordable housing and tax credit asset management,” said Stan Price, SVP of investment solutions at MRI Software. “TCAM’s asset management and advisory services are a natural extension of MRI’s comprehensive investment and property management software and data management services, enabling MRI to provide a complete solution for affordable housing investors, syndicators, owner/operators, and housing agencies.”
This is the second acquisition in a month’s time for MRI, which acquired proptech firm IPM Software last month.
“MRI has been bringing cutting-edge technology solutions to the affordable housing industry, and we’re excited to build on that momentum,” said Jenny Netzer, CEO of TCAM Asset Management. “Our comprehensive asset and portfolio management services perfectly complement MRI’s investment management and property management offerings. As part of MRI, we believe we can help clients achieve better results from their affordable housing assets.”