Glendale-based Connect Media has acquired a majority ownership stake in multifamily listing service company ApartmentBuildings.com for an undisclosed sum.
Daniel Ceniceros, chief executive and founder of Connect Media, said the acquisition, which was announced on Jan. 10, would help both companies better connect with clients. Connect Media offers news, events, education and creative services.
Ceniceros added that it would give Connect Media a “deeper footing in the apartment industry.”
Scott Furman, founder of ApartmentBuildings.com, will be president of ApartmentBuildings.com.
“The multifamily sector requires a leading-edge listings platform to efficiently bring to market multifamily properties today. The industry’s adoption of ApartmentBuildings.com reflects the way sellers quickly find motivated investors for their property listings across the country,” Furman said in a statement. “With the Connect CRE team behind us, we expect to accelerate growth because we have more marketing power, as well as the resources of a larger team to support us, which will work to expand our reach exponentially.”
ApartmentBuildings.com, which was founded in 2017, provides real-time information on multifamily sales.
The website not only has information about properties for sale, but also helps buyers find leaders and property managers.
Ceniceros said some upgrades are planned for ApartmentBuildings.com, including a redesigned website in the next quarter.
He added that one of the things Connect Media does is create content, which it will do for ApartmentBuildings.com.
“Joining forces with Connect CRE allows the apartment listings platform to tap into Connect’s arsenal of tools including creative services to help market properties, numerous conferences where we can connect with investors, and its more than 250,000 news readers will drive increased awareness of ApartmentBuildings.com. This was an ideal marriage on our part and I’m looking forward to what this move will bring as we take ApartmentBuildings.com to new heights” Furman said in a statement.