Alfred Accelerates Rollout of Alfred Operating System (AOS) To Growing Market Following Acquisition of RKW Residential

 

NEW YORK – April 14, 2022 - Alfred, the largest and most advanced resident technology company, successfully expanded to North Carolina on the heels of its strategic acquisition of property management firm RKW Residential. In a phased rollout approach following the RKW acquisition, Alfred will be integrating its Alfred Operating System (AOS) in more than 2,000 apartment units in Charlotte, including The Beverly and The Griff, among others.

 

The initial rollout of AOS, which is the industry’s most advanced platform, is poised to optimize the living experience for apartment residents in the rapidly growing Charlotte market. These residents – and eventually those throughout RKW’s portfolio of 30,000 single-family and multifamily rentals across the Southeast U.S. – will have a single stop to support all aspects of residential living. That applies to resident management and communication, management of on-site operations and maintenance, payments, and unique community and resident wellness amenities.

 

“Just weeks after finalizing the acquisition of RKW, we’re revolutionizing the rental ecosystem through the infusion of our technology and RKW’s property management expertise,” says Marcela Sapone, Co-Founder and CEO of Alfred. “In a digital world, renters are now expecting a tech-enabled experience that they find everywhere else. Together with RKW, we’re powering the most seamless renting journey, where everything a resident needs is anticipated and available at the touch of a button.”

 

Charlotte is North Carolina’s most populous city and one of the nation’s fastest-growing metropolitan areas for job (300,000 new jobs projected by 2028, according to North Carolina’s Department of Commerce) and population growth (2.63% year-over-year and 19.6% growth over the past decade, according to the U.S. Census Bureau). These trends are creating intense demand for apartments in the city, with many residents opting for the flexibility and convenience of renting over owning.

 

“RKW’s home base of Charlotte is ideal for the North Carolina debut of Alfred’s revolutionary platform,” said RKW CEO Marcie Williams. “Our residents have come to expect a seamless and efficient experience. They will love the convenience and ease of use of the Alfred platform.”

 

Alfred strives to positively impact the communities it operates in by partnering with - and supporting - local, women and minority owned businesses. As Alfred enters the North Carolina market, the company is expanding its current pool of trusted vendors to support the Alfred Marketplace, the suite of products and services available to residents through the resident app.

 

Notably, AOS has a proven track record of increasing operational efficiencies through the most robust technology solutions, while simultaneously streamlining property operations and boosting NOI for owners and operators. The AOS platform enhances the property value through bespoke community experiences and programming, on-site hospitality and concierge support, coupled with RKW’s industry leading property management.

 

The expansion to North Carolina signals the company’s unprecedented growth as Alfred makes renting more rewarding through the market’s first, and only, single-stop technology and management solution.  

 

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About Alfred

Founded in 2014 by Marcela Sapone and Jessica Beck, Alfred is the largest and most advanced residential management platform. Since its inception, Alfred has focused on providing a resident-first experience. With an unparalleled knowledge of what residents want and technology that boosts income and efficiency for owners and operators, Alfred provides a single stop that elevates the rental ecosystem for all involved. Named by Fast Company as one of the Top 50 Most Innovative Companies, Alfred's AOS technology drives lower operating costs and higher returns for property owners and operators. Alfred strategically partners with international real-estate owners and operators such as Hines, Related, RXR, Greystar, Invesco, Brookfield and J.P. Morgan. With the latest acquisition of RKW Residential, Alfred's portfolio now extends to more than 300,000 residents in 52 cities across the U.S. and Canada and has planned expansions in Europe, Israel and Asia. To learn more, visit www.helloalfred.com  

Property Management and Technology Executives Bring Combined 30+ Experience to Expanding Real Estate Technology Company

  • Alfred has named Jasmine Greene as the first Vice President of Multifamily Operations;
  • Marisa Sires as Senior Vice President of Product

NEW YORKApril 7, 2022 /PRNewswire/ -- Alfred, the largest and most advanced resident technology company, today announced two strategic leadership hires that bring a combined 30+ years of real estate and technology experience, Jasmine Greene and Marisa Sires.

In a natural progression for the expanding company, Alfred is rounding out its leadership team with unparalleled expertise to further invest in its mission to power properties of the future through groundbreaking technology and management. The company has plans to continue growing its executive team, of which 43% of identify as women.

"The addition of Jasmine, a real estate industry veteran, provides us with a unique perspective to build out the Alfred Operating System, as she has sat in the seat of our customers," says Marcela Sapone, Co-founder and CEO of Alfred. "As we expand our leadership team with talented women who share our mission, we're delighted to also welcome Marisa to the team. Leading our product design, development, and integrations, Marisa's emphasis on a customer-centric approach enables us to continue to build the most seamless living experience that modern renters expect and crave."

Jasmine Greene brings a breadth of multifamily experience through her previous roles across category-leading brands, such as RPM Living, Maverick Residential Company, and Alliance Residential Company. As Alfred's first Vice President of Multifamily Operations, Greene will be focused on creating the most robust technology solutions to improve operational efficiency through automation.

"Capitalizing on my heavily focused operations experience, I'm excited to embark on a new chapter at Alfred," says Greene. "There's never been an opportunity in the real estate industry that has married technology and operations together, both at a corporate and owner level. On a path to global expansion, Alfred is solving the biggest challenges multi-family and single-family rental operators face today with tech-first solutions that create operational efficiencies, while simultaneously making renting the most desirable experience."

With over 15 years of experience across real estate, product management, and client services, Marisa Sires brings expertise from her leadership roles in dynamic, high-growth companies including BuildingLink, CBRE Hana, Rally, and Gigya, a SAP company. Upon joining Alfred's team, Sires will be leading cross-functional collaboration between the Product Management, Product Design, and Product Operations teams to deepen leading-edge technology powering AOS.

"I'm thrilled to be a part of advancing Alfred's resident-first technology to streamline property operations and empower residents to experience the power and luxury of free time," says Sires. "As we continue to build out our product, we're growing our team across product management, design, operations, and engineering; we're bringing together the expertise we need to transform the renting experience through a tech-first approach that will propel the entire industry forward."

Just four weeks after Alfred's largest funding and acquisition to date, the announcement of Alfred's growing leadership team signals the company's unprecedented expansion as they make renting more rewarding through the market's first and only, single-stop technology and management solution.  

About Alfred

Founded in 2014 by Marcela Sapone and Jessica BeckAlfred is the largest and most advanced residential management platform. Since its inception, Alfred has focused on providing a resident-first experience. With an unparalleled knowledge of what residents want and technology that boosts income and efficiency for owners and operators, Alfred provides a single stop that elevates the rental ecosystem for all involved. Named by Fast Company as one of the Top 50 Most Innovative Companies, Alfred's AOS technology drives lower operating costs and higher returns for property owners and operators. Through strategic partnerships with international real-estate owners and operators such as Hines, Related, RXR, Greystar, Invesco, Brookfield and J.P. Morgan. With the latest acquisition of RKW Residential, Alfred's portfolio now extends to more than 300,000 residents in 44 cities across the U.S. and Canada and has planned expansions in EuropeIsrael and Asia. To learn more, visit www.helloalfred.com  

 

Acquisition accelerates strategic expansion in Southeast U.S. and rollout of AlfredOS

Alfred, the largest residential technology company in the U.S., announced the strategic acquisition of RKW Residential, a fast-growing property management firm in Southeastern U.S. and has concurrently raised a strategic financing round led by Rialto Capital with participation from NEA, 166 2nd Financial Services, Holland Management and others.

The acquisition, Alfred's first in the property management space, speeds adoption of Alfred Operating System (AOS), the most advanced residential management platform, to RKW's 30,000 single-family and multi-family rentals in fast-growing cities including MiamiCharlotte and AtlantaAlfred already serves over 143,000 units across 44 markets in the U.S. and Canada.

"No matter what end of the real estate spectrum you're on – owner, operator or resident – you want more for your money," said Marcela SaponeAlfred's co-founder and CEO. "More service, more income, more efficiency, more community, and you want it in one seamless experience. By acquiring RKW, we can more deeply deploy technology to learn, innovate and continually elevate the rental experience for all."

Launched in 2014, RKW quickly became one of the fastest-growing property management companies in the U.S. Headquartered in Charlotte, the company's portfolio is 90% Class A units including 2,200 single family rental units, with 40% representing lease-up in core locations. They've won numerous national and regional awards including Multi-Housing News List of Top 25 Management Firms in the U.S. in 2019, 2020 and 2021.

"RKW and Alfred share a people-first philosophy. We are constantly looking for ways to help owners optimize their investments while making our properties exceptional places to live and work," said RKW President Marcie Williams. "Together with Alfred, we'll revolutionize how we approach property management, with a focus on using the latest technology and resident-focused innovation."

The funding which consists of a $50 million initial closing and access to up to an additional $75 million for future acquisitions, was also joined by Greystar Founder and CEO Bob Faith, Grubhub/Seamless Founder Jason Finger, and RKW Co-founder Jay Massirman.

With Alfred's residential management software, AOS, owners and operators have a single stop to support all aspects of residential living including resident management and communication, management of on-site operations and maintenance, payments, and unique community and resident wellness amenities. Solutions include everything from smart package integrations, digital lease signing, utility and energy management, predictive insight into health and maintenance of a building, white glove moving services, vendor and integration management, renewal boosters and resident retention offerings. AOS will continue being available to all Alfred partners.

Today on average, less than 1%* of a property budget is being put towards technology, unlike other innovative industries which invest closer to 10%*, and owners typically must manage disconnected technology options. As a partner, Alfred creates a customized bundle of technologies on top of its core offering to help owners and operators achieve their desired outcomes while eliminating the need to work with multiple technology partners.

Data shows Alfred clients benefit from increased renewal rates, faster lease-up times, above-market rents and below-market vacancies. Alfred members on average extend their lease an extra three months and communities that utilize AOS can increase net operating income up to 10% a year.

RKW is Alfred's fourth acquisition. Previous acquisitions include HOM, a wellness and events platform; Bixby, property management technology essential to developing the AOS platform; and WunWun, an on-demand service platform.