SAN FRANCISCO, Dec. 20, 2021 /PRNewswire/ — Archer, a commercial real estate tech company pioneering predictive acquisitions software to help its clients deploy capital more efficiently, expanded significantly in 2021 to help investors find and close more deals. The launch of new products and services, along with the addition of real estate and data science experts, have strengthened the company and positioned it and its clients for a successful 2022.
"This year, Archer made several bold moves that allowed us to help more real estate investors achieve their goals," says Thomas Foley, Archer co-founder and CEO. "We’re grateful for the growth we achieved in 2021 and looking forward to maximizing the opportunities the new year will bring."
Enhancements to predictive acquisitions software
In 2021, Archer rolled out its proprietary software, AIM (Actionable Insights Model). Leveraging data and AI to uncover the perfect deals for investors before they even hit the market, AIM provides customized acquisitions targets based on clients’ preferred locations, previous investments, and areas of interest. It also creates a "seller propensity" score based on 20 years of behavioral data so investors know which deals are most likely to transact off-market.
Over the course of the year, Archer continued to enhance its software and now tracks more than 4 million data points and in excess of 40,000 ownership profiles. It also can forecast cash flows for more than 100,000 properties across the U.S., providing investors with the insight they need to determine if specific assets are a strategic fit for their portfolios.
This year, Archer also unveiled two impressive new products:
1) Location Recommendation Engine, which applies a Netflix-like approach to commercial real estate – "If you like this, you’ll love this". By understanding investor preferences and strategy in a particular geography, Archer’s software can build robust recommendations in any other market for its clients to pursue. It can analyze new markets at scale that would traditionally require an army of analysts.
2) AIM Automated Underwriting, which is 10x faster than traditional, manual underwriting. It reduces the amount of time required to complete a first underwriting from days to minutes.
In October, Archer presented its technology to ULI’s Technology and Real Estate Council during the organization’s Fall Meeting. ULI asked Archer to be the highlight at the invitation-only Demo Day for proptech companies.
Helping clients find more deals and get those deals done
Wowed by the company’s innovative, data-driven approach to deal sourcing, 32 of the most active multifamily investors in the U.S. became Archer clients in 2021. These investors now have a competitive edge that will allow them to successfully deploy capital and meet their investment objectives.
On behalf of its clients, Archer analyzed a whopping 1,000+ properties in 50 markets and presented roughly 450 off-market opportunities. And armed with Archer’s deal-sourcing intelligence, its clients made offers totaling more than $200 million.
Based on the problem Archer is solving for its clients, the company was featured in Wealth Management Real Estate’s article, "To Deploy Capital More Efficiently, Investors Bring In Outside Acquisition Help". Two of the company’s clients, Arlington, Va.-based Blackfin Real Estate Investors and San Diego-based Manor Development, participated in the article.
Doug Root, Blackfin’s co-founder and managing director, emphasized Archer’s value proposition, saying: "The whole real estate business is a little old school, but Archer is doing something new and unique that gives us another avenue to find investment opportunities."
Meanwhile, Manor Development’s Founder and Managing Partner Cameron Pringle had this to say: "Love the product and people. The team is willing to do just about anything to help me have success with Archer and I appreciate the flexible approach."
Rounding out the team to fuel future growth
During the second half of the year, Archer expanded its team with two managing directors: Miles Pratt, who leads its real estate acquisitions team, and Kristin Kearney Massimino, who heads up its marketing and investor relations team. The company also brought on an experienced data scientist, Prabhat Dalmia, to advance its predictive acquisitions platform. Additionally, it hired two commercial real estate professionals dedicated to customer support and success.
In October, both Foley and Pratt were included in GlobeSt.com’s 50 Under 40. The list recognizes the top 50 professionals in commercial real estate under the age of 40.
"Here at Archer, our mission is to make real estate investing easier through better data, technology, and local expertise," says Fred Canney, Archer co-founder, CFO, and COO. "Everything we do, from launching new products and services to adding extraordinary people to our team, allows us to live our mission. We couldn’t be more excited to have the opportunity to continue to help investors in 2022."
About Archer
Archer is a real estate technology firm that helps investors find more deals and get those deals done. The firm has developed predictive acquisitions software, AIM, that matches clients’ specific investment strategies with actionable properties. By leveraging its location recommendation engine, Archer is facilitating and refining the way investors enter new markets and expand into new property types. The company’s automated underwriting tool improves efficiency and decreases the time required to effectively evaluate deals. Learn more at www.archer.re.
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