VTS, a leasing and asset management platform dominant in the commercial real estate sector, announced it will acquire PropertyCapsule, a marketing automation and prospecting software used by more than half of the top 100 retail landlords in North America.
As part of the acquisition, Thomas Byrne, CEO of PropertyCapsule and former president and COO of LoopNet, will join the VTS team in the newly created position of General Manager, Retail Products and Data, where he will oversee the strategic direction and delivery of VTS’ retail product offerings.
“The PropertyCapsule team has done an amazing job creating a best-in-class, innovative marketing and prospecting platform for leading retail landlords and brokerages and I’m thrilled to welcome them to the VTS family,” said Nick Romito, CEO of VTS.
“VTS is investing heavily in the retail sector and the combination of PropertyCapsule’s strong market traction and the deep experience of the team made this acquisition an obvious decision.”
PropertyCapsule is used by leasing and marketing professionals to manage and market retail assets.
VTS’ acquisition will enable the company to now offer the comprehensive leasing management solution for retail landlords.
“We couldn’t be more excited to join the VTS family and continue to build the most powerful solutions for retail landlords,” said Thomas Byrne, CEO of PropertyCapsule and new General Manager, Retail Markets and Data at VTS.
“Joining forces with VTS puts us in a position to accelerate growth and continue to deliver software that helps retail owners and brokers market and lease their centers to the changing demand in the market.”
“We’ve been fans of Thomas and the PropertyCapsule team for a long time,” said Ryan Masiello, co-founder and Chief Strategy Officer, VTS. “There’s no doubt that having them join the VTS family will be of tremendous value to our retail clients.”
VTS will be showcasing PropertyCapsule at the upcoming ICSC New York Deal Making Conference in New York City on Dec 10 – 12.
