Property research and data firm MSCI has acquired US peer Real Capital Analytics (RCA) for $950 mln (€800 mln) in an all-cash deal.
Founded in 2000, Real Capital Analytics is a private company providing global real estate data and analytics across more than 170 countries.
According to MSCI, the deal will expand its suite of real estate solutions. MSCI intends to leverage RCA's database of more than $20 trn of commercial property transactions linked to over 200,000 investor and lender profiles, enhancing MSCI’s commercial real estate capabilities.
Henry Fernandez, chairman and CEO, MSCI, said: 'We are delighted to announce the acquisition of Real Capital Analytics.
'The commercial real estate sector is seeing substantial transformation driven by several factors, including shifting consumer behaviors in work, lifestyle and travel accelerated by the pandemic, realignment in global supply chains, and the impact of climate change.
'The combined strength of MSCI’s existing data, analytics and tools, and the addition of Real Capital Analytics’ wealth of commercial real estate data and analytics, creates an unparalleled level of solutions for the real estate market.'
Robert M White, Jr., founder and president of RCA, commented: 'MSCI is a natural home for Real Capital Analytics since our primary goal has always been to bridge the information gap between commercial real estate and other asset classes across the financial markets.
'The combination of the two firms creates a powerful team that will lead innovation and analytics in the real estate asset class well into the future.'
The transaction is expected to be funded with existing cash on hand and close at the end of the third quarter, or early in the fourth quarter, of 2021, subject to regulatory approvals and customary closing conditions.