Need Comps? Get $5 trillion on your iPhone
Real Capital Analytics recently released an iPhone app. It's an invaluable app to have for in-office meetings or while conducting a market tour. Drive by a building and want to know when it last sold and for how much? More than likely, you can find the comp with this app. From the developer:
Real Capital Analytics is the only global provider of commercial real estate intelligence, and this mobile tool is designed for on-the-go users of RCAnalytics.com data. Get the details on commercial property transactions from Manhattan to Moscow, covering comparables from all the major CRE property types: Office, Retail, Industrial, Multifamily Apartments, Hotels, Seniors Housing, and Development Sites.
Pull up maps or lists of deals involving commercial properties, with details such as:
Transaction type (property sale, refinancing or transfer)
Price (total in millions; optional currencies $/€/£/¥)
Price per unit (square feet, square meters, tsubo or pyeong)
Cap rate or initial yield
Parties involved (buyer, seller, brokerage)
Other property attributes
RCA’s global coverage is unmatched. Instead of limiting our research to a specific set of geographic areas or markets, Real Capital Analytics covers the entire world, collecting CRE transaction comps in any location globally.
The search and mapping functionality is easy and intuitive. The property level information leaves a bit to be desired; an aerial or Google Street View of the property would be cool to have integrated into the property level record at some point.
Overall, it's a great start to what will become an indispensable app for brokers and investors alike.
Download this app: iPhone