MRI Software has acquired TCAM Asset Management, further expanding the company’s growing affordable housing business.
With the acquisition, MRI, a provider of real estate software applications, gains TCAM’s extensive expertise in affordable housing asset management and advisory services. Terms of the deal have not been disclosed.
The Boston-based TCAM provides services to clients with more than 1,600 properties and 176,000 apartment units across 48 states, Washington, DC and Puerto Rico. Its clients include real estate developers, banks, insurance companies, housing agencies and others.
The two companies have worked together for the past decade. And now being under the same umbrella will allow the two companies to be more creative with how they combine services and technology for the industry.
MRI will establish a strong presence in Boston, while TCAM will be able offer their client’s tech solutions.
The company will continue to operate as TCAM, with its existing management and staff.