MRI Software, one of the leading providers of innovative real estate software applications, has reportedly acquired Jenark™ property management software from CoreLogic Inc.

The acquisition of Jenark aligns with MRI Software’s existing product set for the efficient management of residential properties. It addresses the unique needs of community and homeowner associations by facilitating processes, operations, communications, transactions, administration, reporting, and accounting. The solution is presently used by hundreds of management firms and large self-managed communities, representing around half a million residential units within the United States.

Speaking on the acquisition, Patrick Ghilani, CEO of MRI Software said that the company is pleased to welcome Jenark to the family and further expand the footprint of its end-to-end, comprehensive MRI Living suite. With this strategic acquisition, the company now serves more than 16 million residential units across the world and it is looking forward to bringing the advantages of its scale and innovation to the users of Jenark, he states.

MRI Software will continue to carter and aid Jenark users without any interruption, now and into the future, Mr. Ghilani said while adding that the company will provide additional value from the range of complementary, connected MRI and partner applications Jenark users can leverage.

Meanwhile, Dickinson Wright PLLC catered as MRI Software’s legal advisor while Truist Securities catered as CoreLogic’s financial advisor for Jenark™ acquisition.

Apparently, this transaction marked MRI’s eighth acquisition of 2020 to date. On October 13, the company announced the acquisition of CheckpointID LLC, the Texas-based provider of fraud prevention technology and ID verification solutions to the multifamily industry.

For the record, the CheckpointID™ solution authenticates government-issued domestic as well as domestic IDs in real-time to safeguard against rental fraud and enhance safety in both self-guided and guided apartment tours. The solution enables leasing agents to rapidly perform checks online or in person and offers a secure and efficient alternative to the conventional paper-based process.

Source credit - https://www.mrisoftware.com/news/mri-software-acquires-jenark-from-corelogic/