Drooms inks partnership agreement with Coyote Software
09. March 2020Companies will look to offer an integrated commercial real estate proposition based on complementary products
London, 9 March 2020 – Drooms, Europe’s leading provider of secure cloud solutions, and Coyote Software, the acquisition and asset management platform, have reached a referral partnership agreement with a view to developing a joint-proposition for the commercial real estate (CRE) industry.
Both Drooms and Coyote have substantial client bases across Europe to which their complementary products have wide appeal.
Coyote enables real estate investment managers to track details of assets available for purchase and filter them using bespoke criteria, providing the ability to review more deals and facilitate more informed bids. Coyote is also used by asset managers and property managers to manage portfolios more effectively, providing instant summaries of assets. Drooms’ virtual data room (VDR) products can be used alongside Coyote to manage the documentation involved in acquisitions, sales and managing assets throughout their lifecycles.
While both companies’ products can already be used in conjunction, they will look to offer an integrated proposition in the next few months.
Rosanna Woods, Managing Director UK for Drooms, commented: “There is a powerful synergy between our products and Coyote’s. We also share a vision of where the real estate industry is heading and the innovations that will be required to provide the necessary technological solutions over the next few years.”
Oli Farago, Chief Executive Officer at Coyote, commented: “Working with best-in-class providers has helped to make Coyote the product it is today. There is also a great cultural fit between us - Drooms has the same commitment to delivering client-led solutions and we are both interested in integrations that can add value to our respective products."
“The need for cutting-edge technology is set to increase sharply in Europe’s commercial real estate industry as competition for assets hots up among institutional investors who can no longer generate the returns they need from their bond portfolios. CRE investment managers will have to operate more efficiently to compete in a market that has traditionally been behind the technology curve and they will increasingly need propositions such as those offered by Coyote and Drooms.”
Drooms and Coyote will co-host a series of client events throughout this year in the UK, Germany and the United States.
Drooms’ real estate clients include JLL, CBRE and UBS while Coyote’s include Landsec, Benson Elliot and Kames Capital, to name a few.
Drooms, Europe’s leading provider of virtual data rooms, grants companies controlled access to confidential corporate data across company boundaries and specialises in customised solutions across the entire value-added chain. In addition to securely handling confidential business processes such as commercial real estate sales, mergers & acquisitions and NPL transactions via Drooms TRANSACTION, Drooms PORTFOLIO maps all stages across the entire Lifecycle Asset Management process on a single platform. Currently, more than 25,000 companies across the world use Drooms, including leading global real estate companies, consultancy firms, law firms and corporations such as the METRO GROUP, Evonik, JLL, JP Morgan, CBRE, Rewe and UBS. The software specialists have concluded over 15,000 complex transactions with a total volume of more than EUR 500 billion.
About Coyote Software
Coyote is award-winning commercial real estate software, transforming the way that real estate businesses buy and manage assets globally.
Designed and built by real estate professionals, Coyote is an intuitive cloud-based platform. It provides a central repository for commercial real estate data and facilitates smarter collaboration across teams.
Coyote helps acquisition and investment teams to review more deals, place more bids, and track pipeline more effectively.
Coyote helps asset managers to see the risks and opportunities in their portfolios, enabling them to maximise income, reduce risk, and reduce vacancy.
The Coyote ecosystem integrates data from multiple property management systems - like Yardi and MRI, along with market data sources - like Infabode and WiredScore, into one consolidated dashboard; providing contextually relevant results and actionable insight on acquisitions and assets under management.
In development since 2009 and commercially available since 2017, Coyote Software is used by a growing list of commercial real estate businesses including Benson Elliot, LandSec and HiH Real Estate.