Global PropTech leader MRI Software has acquired LeaseEagle, an Australian-based leader in commercial property lease management solutions for tenants in corporate, retail, healthcare and other sectors. Founded in 2005, LeaseEagle’s software is used by clients to manage over 50,000 locations across Australia, New Zealand and South Africa.
LeaseEagle delivers advanced software solutions designed to help commercial tenants effectively manage lease commitments across multiple real estate assets. In addition to ensuring compliance with IFRS 16/AASB 16 lease accounting standards, LeaseEagle’s cloud-based platform reduces the risk of missing critical lease dates and makes detailed occupancy analysis simple. It also provides data-driven reporting for better decision making, saves time and improves accuracy with automated invoicing and significantly increases business process efficiency.
MRI Software managing director and senior vice president (Asia Pacific), David Bowie, says adding LeaseEagle to MRI’s existing suite of integrated workplace management systems (IWMS) and unique AI-based lease abstraction and intelligence solutions is “timely and strategic.”
“Australian commercial property deals in 2021 were nearly double the value of 2020 investments amid the most extensive rewrite of property leases in history. That mix of fast growth and complex change represents very high risk, and I believe this acquisition gives MRI the right solutions and expertise to help clients reduce that risk.”