Built Expands Commercial Real Estate Product Suite for Lenders With Acquisition of Nativ
Built and Nativ team up to deliver the first collaborative deal management platform for CRE lenders across construction, transitional and stabilized real estate assets
NASHVILLE, Tenn.–(BUSINESS WIRE)–#acquisition—Built Technologies, a leading software provider for real estate lenders and the construction industry, announced that it has acquired Nativ, a leading deal management platform for commercial real estate (CRE) lenders. The acquisition will enhance Built’s existing product suite for commercial lenders and enable improved underwriting and asset management capabilities across construction, transitional, and stabilized assets.
Built Co-Founder and CEO Chase Gilbert said, “After years working with top real estate lenders in the US and Canada, our customers began voicing their desire for us to help them solve new problems beyond just managing their construction loans. Our customers were experiencing difficulties with the underwriting and asset-management of loans as well as with aggregate portfolio management and reporting. When we were introduced to Nativ, the powerful tools to streamline these very processes were an obvious fit. This acquisition will also give Built access to a rich data set for how various real estate assets are performing, allowing us to provide innovative risk intelligence products to our customers over time.”
“Built’s construction lending solution offers our real estate clients an enhanced banking experience and aligns with Regions’ goal of innovating through technology. The recently announced collaboration between Built and Nativ is exciting, as the combined platform specializes in both construction and stabilized commercial real estate transaction management and allows lenders to work in their native workflows–all while benefiting from a centralized, audited, and enriched data model in the cloud.” – Tan Phillips, Regions Real Estate Banking
CRE lenders often silo information required to make intelligent lending decisions. Managing this information manually is expensive and exposes lenders to unnecessary risk. This approach prevents lenders from making strategic decisions in a timely manner, constraining growth and hurting portfolio profitability.
Nativ’s platform solves this by:
- Providing a centralized, collaborative system of record that synchronizes deal data across each loan stage
- Enabling lenders to integrate portfolio management while preserving familiar or “native” workflows including spreadsheets, and complementing common loan origination and servicing systems
- Layering on alerts and monitoring to validate loan covenant compliance
- Delivering flexible portfolio analytics, reporting and monitoring to manage risks and automate common tasks
“Joining forces with Built will fundamentally change how lenders and owners work together,” said Jeff Saul, Co-CEO and Co-Founder, Nativ. “Lenders have long been underserved by a lack of modern, industry-specific tools to speed the process of closing and managing loans. Together, we will change the way lenders and owners transact in the entire ‘built’ world.”
Saul and co-founder Adam Kerr join Built’s leadership team. The deal brings Built’s headcount to over 430 and expands the company’s presence in New York City. Built now serves over 220 lenders, including some of the largest non-bank lenders such as AllianceBernstein, Prime Finance and Benefit Street Partners.
For more information on how Built and Nativ will deliver exponential value to CRE lenders, visit www.getbuilt.com/nativ.
About Built
Built is the leading provider of construction and real estate finance technology. By providing a centralized platform for all stakeholders, Built enables increased efficiency, collaboration, transparency, and business agility—with decreased risk—allowing customers to improve the way that the communities around them are built and managed. The Built platform is used by more than 220 leading North American lenders and asset managers, and thousands of developers, home builders and contractors. To learn more, visit www.getbuilt.com.
About Nativ
Nativ is a leading enterprise software provider to the Commercial Real Estate investment industry. Nativ has helped clients across the country invest in and manage billions of CRE assets. Products focus on workflow automation and the use of proprietary technology to optimize the underwriting and investment decision process through improved harnessing and utilization of deal data. Clients include funds, REITs, banks and insurance companies across the U.S.
Contacts
Media:
Robin Bectel
REQ for Built Technologies
[email protected]
703-287-7800
Kristi Brown
Built Technologies
[email protected]
702-303-3019
