Gparency Launches New Platform for Finding and Facilitating Acquisitions
Commercial mortgage brokerage Gparency has debuted Digital Marketplace, software that provides free access to listings and financing options for property acquisitions, Commercial Observer can first report.
“The goal is to build Zillow for commercial real estate,” said Ira Zlotowitz, founder and CEO of Gparency. “We’re solving what we call the first-mile (problem). People come here to see what’s for sale first thing in the morning.”
According to a release, the new program includes interactive maps in addition to general market information, more specific details around property asking prices and dimensions and information regarding local populations in that area. The data is aggregated from 650 sales brokers dispersed across the U.S., and the release compares the program’s functionality to Google Maps.
“It is 100 percent complimentary to have access to listings, data of it, and its location on the Google map,” said Zlotowitz. “But, if you decide to become a member, we have a team that’s going to update the listing price for you. Also our members get to use us as mortgage brokers.”
The new marketplace features more than 42,000 properties being offered for sale, including off-market listings. The platform intends to grow this number to more than 50,000 “in the near future,” per the release.
“It is an indispensable tool for anyone looking to acquire commercial property or simply curious about availabilities across the country,” Ben Schweitzer, co-founder and chief product officer of Gparency, said in a statement. The software was developed by a team led by Schweitzer and Abrar Qureshi, the chief technology officer and partner at the firm.
Update: This story originally misattributed source material. This has been corrected. We apologize for the error.
Emily Fu can be reached at efu@commercialobserver.com.
