HouseCanary’s Comprehensive AI and Valuation Models to Support Leading SFR Investor and Manager’s Intended Acquisition Growth
SAN FRANCISCO--(BUSINESS WIRE)--HouseCanary, Inc. (“HouseCanary”), a leading provider of residential real estate data and home valuations, today announced that it is now the primary provider of artificial intelligence (“AI”) solutions and data to Transcendent Investment Management (together with its affiliates, “Transcendent”), which is a top private equity real estate investment firm and vertically integrated manager focused on the acquisition, development and management of residential properties across the United States. HouseCanary was selected following Transcendent’s comprehensive assessment of residential market AI and data firms.
As a top 20 single-family property investor in the United States, Transcendent focuses on acquiring and constructing homes in its build-for-rent programs. To support the firm’s continued growth and expansion, Transcendent will integrate HouseCanary’s AI technology and data into its models to more efficiently and accurately identify, analyze and underwrite build-for-rent properties. Transcendent is partnering with HouseCanary to make the acquisition process state-of-the-art, to leverage the latest in technology and analytics, and to support more families with new properties for rent.
“We are very pleased that Transcendent selected HouseCanary as its primary technology and analytics provider after a thorough search process,” said Jeremy Sicklick, Co-founder and Chief Executive Officer of HouseCanary. “We believe our partnership with Transcendent reinforces that HouseCanary is becoming the go-to partner for alternative investment firms and single-family real estate investors looking to use best-in-class AI technology to help grow and manage their residential property portfolios.”
As one of the country’s largest property owners, Transcendent allocates approximately $300 million per year to acquisitions and has executed more than $1 billion in transactions since its inception. Transcendent currently manages more than 1 million square feet of properties across the country.
“Transcendent’s selection of HouseCanary reflects our commitment to utilizing the best available AI, data and technology to deliver optimal outcomes for renters, communities and our limited partners,” said Jordan Kavana, Founder and Chief Executive Officer of Transcendent. “We want to be able to evaluate more potential acquisitions and underwriting opportunities in as close to real-time as possible – and with the benefit of as much context and insight as possible. We believe HouseCanary is the ideal AI and technology player to help us realize that vision and transform our processes.”
Transcendent and its affiliates employ teams of analysts, investment professionals, underwriters and property managers. The firm will leverage HouseCanary’s solutions and insights to inform decisions across each of its entities and their respective functions.
The HouseCanary-Transcendent partnership formally began in August 2020.
Founded in 2013, valuation-focused real estate brokerage HouseCanary provides software and services to reshape the real estate marketplace. Financial institutions, investors, lenders, mortgage investors and consumers turn to HouseCanary for industry-leading valuations, forecasts and transaction-support tools. These clients trust HouseCanary to fuel acquisition, underwriting, portfolio management and more. HouseCanary’s broad multiple listing service participation allows us to evaluate listings data and aggregate the number of new listings as well as the number of new listings going into contract for all single-family detached homes observed in the HouseCanary database. Using this data, HouseCanary continuously tracks listing volume, new listings, and median list price for 41 states and 50 individual Metropolitan Statistical Areas. Learn more at www.housecanary.com.
About Transcendent Investment Management
Transcendent Investment Management is a diversified private equity real estate investment firm and vertically integrated manager that focuses on the acquisition, development and management of single-family homes and attached townhome rentals. The firm provides quality, new construction residences from national home builders that are competitively priced and support a healthy lifestyle to residents. The firm centers its investment strategy around scattered build-for-rent (BFR) newly constructed homes in new communities and purpose-built BFR of new homes highly-amenitized communities. Its newest division, Clean Living Health & Wellness, is a collection of communities that will feature technology, programming and amenities designed to support health, well-being and mindfulness for all residents.