Residential building management platform Alfred has acquired HOM, an international technology-enabled amenity and community engagement provider, in an all equity transaction.
Founded by Francesca Loftus, Corey Loftus, and Ryan Freed in 2014, and operating in over 300 multi-family and commercial buildings throughout the United States and Canada, HOM provides curated fitness and wellness programs, as well as lifestyle and entertainment services, to support tenant engagement and retention.
With this acquisition, the third since its founding, Alfred will expand its growing roster of resident-focused amenities, experiences, and programs, which the company first launched to foster connection and connectivity at the start of the pandemic.
This acquisition marks the next step in Alfred’s trajectory as a residential experience platform and provider. With HOM, Alfred grows its footprint to over 160,000 units in 35 markets and will accelerate opportunities for activations throughout its network, enabling developers and building owners to drive greater value for their residential properties. HOM employees will be joining the Alfred team and HOM CEO Francesca Loftus will continue to grow the HOM service offering in her new role at Alfred.
“Alfred is a pioneer of a resident-focused and resident-first approach to real estate. As the pandemic triggered dramatic changes in how we live, work, and interact, Alfred enabled residents to stay connected to the people and places they call home through our expanded resident-experience offerings,” said Marcela Sapone, CEO and co-founder of Alfred.
“HOM brings the know-how that enables us to rapidly grow and scale our resident programs with partners on a national and international level. Building on HOM’s expertise and our resident insight, Alfred is reshaping the real estate industry and nurturing a new model of living.”
HOM is widely acknowledged as the leading technology-driven amenities provider in the residential and commercial sectors, offering a suite of technology that drives as many as 500 activities per week.
Through this approach, the company has automated the delivery process, maximizing continuity to unlock deep engagement from residents and commercial tenants, delivering maximum value to owners and operators. With the at-home workouts and activities boom over the pandemic, HOM tripled its client base with offerings ranging from fitness classes, to meditation, to rooftop putt-putt golf courses.
The acquisition follows Alfred’s recent closing of $42 million in Series C funding and its continued expansion. Currently serving over 124,000 homes in 21 markets across the United States, Alfred was founded to anticipate and support the needs of a new generation of residents and has seen an exponential increase in demand for its resident-first, technology-enabled property management solutions since it launched in 2014.
The company identified critical void in the real estate and hospitality sectors, and streamlines building operations by offering personalized resident services, amenities and experiences through Alfred’s platform, AlfredOS, which has redefined the relationship between the resident, property operator and their community.