Marcus & Millichap has formed a strategic partnership that includes an equity investment and commercial relationship with Archer, a venture-backed real estate technology company. Terms were not disclosed.
Richard Matricaria, Marcus & Millichap’s COO, Western Division, said: “Our relationship with Archer is one of the ways we continue to stay on the leading edge within the proptech space. We value Archer’s technology and the strategic benefits they provide our brokers and clients and took the opportunity to expand our partnership with an equity investment.”
Founded in 2019, San Francisco-based Archer has developed a comprehensive commercial real estate software platform that accelerates market analysis, deal sourcing and underwriting activities. It leverages machine-learning algorithms to better parse property financials such as rent rolls and operating statements and consolidate data from a multitude of sources to be able to provide immediate performance metrics for multifamily real estate assets nationwide. The platform allows brokers to accelerate the market analysis and underwriting processes for clients.
“Marcus & Millichap’s history of adapting the benefits of emerging technologies to serve commercial real estate investors aligns with Archer’s predictive analytics and investor-centric approach,” said Matricaria. “As a customer and also an investor in Archer, we look forward to extending the benefits of this strategic partnership to our brokers and clients.”