MRI Software, a prominent real estate software solutions provider, has announced its acquisition of Rockend, the leading provider of residential property and strata management solutions in the Australian and New Zealand (ANZ) PropTech sector. This acquisition is a significant step towards expanding MRI’s presence in the ANZ market, and it adds the largest residential footprint in Australia to its portfolio. It strengthens the company’s established reputation as a pioneer in real estate technology.
Rockend is the foremost ANZ residential property management rental and strata technology provider, serving almost 6,000 clients. Its solutions are used by real estate agencies in ANZ to manage over 1.5 million rental properties and by strata businesses to manage 750,000 strata lots in the region. Strata lots are multi-owner, multifamily residential communities that rely on Rockend technology for managing and maintaining each property complex, including regulated funds set aside for ongoing maintenance, insurance, and other common costs.
Patrick Ghilani, CEO of MRI Software, said that acquiring Rockend is a significant milestone in the company’s global growth strategy, expanding MRI’s footprint in ANZ and paving the way for innovation and future expansion. The acquisition aligns with MRI’s area of expertise and provides MRI clients in the region with access to even more local resources across the company’s comprehensive range of solutions. Rockend clients will also benefit from being part of a global provider with a broader set of offerings.
MRI became the first major real estate software provider to serve ANZ when it entered the market in 1995, and today its commercial, residential and real estate investment software is used to manage more than 90,000 commercial lease units and over 62 million square meters of property.
“Acquiring Rockend greatly extends our capabilities in the multi-owner, multi-family and residential property management space, enhancing and extending the MRI residential solutions suite,” notes John Ensign, President and head of international operations at MRI Software. “What’s more, going forward Rockend’s expertise and technology in the strata and community management marketplace can be applied to other geographies with similar needs – such as managing condominiums.”
Headquartered in Sydney, Rockend is a proven innovator in residential property management software, launching ANZ’s first online solution for this marketplace, Property Tree, a cloud-based property management application, covering operations, communications and accounting – allowing anywhere, anytime access with intuitive functionality. Other Rockend solutions include Rest Professional, its server-based property management application, and Strata Master, its software for owner associations to manage accounts, maintenance and board/owner meetings – automating everyday tasks, simplifying compliance and improving customer service.
According to Alister Maple-Brown, the CEO of Rockend, there has been a significant increase in demand for property and strata management solutions due to the housing construction boom in Australia and New Zealand, especially in major cities. He believes that by joining an established global player with the capacity to meet this demand, take their technology to new markets, and offer access to a wider range of PropTech innovations to local customers, Rockend will be well-positioned for sustained growth. Maple-Brown also notes that MRI’s dedication to innovation and the industry aligns with Rockend’s values.
The acquisition of Rockend by MRI will enhance the latter’s market presence in ANZ, expand its offering, and increase staff, enabling the combined entities to serve clients in the region even more effectively.
