In a recent announcement, US-based real-estate brokerage company Redfin Corp has stated that it has agreed to buy one of the most prominent apartments search site operator RentPath Holdings Inc. out of bankruptcy for $608 million. The firm has also said that this deal would combine operators of leading US property listing websites for buying renting a home.
The all-cash acquisition of Atlanta-based RentPath would give Seattle-based Redfin listings and affirmation for more than 20,000 apartment buildings. The proposed tie will also increase traffic for RentPath's sites as 20 percent of Redfin's monthly visitors are looking for homes to rent. With this, RentPath has also decided to increase the operating charges and site cost for its new plots and apartment buildings.
RentPath has agreed to give the rental plots and apartment buildings to Redfin Corp. Meanwhile, both the firm will focus on the development of these as per the realtor's norm. 'Redfin is aiming to provide its customers the best available property insight. This new deal will help both the firms to create a unique real-estate atmosphere. Both the firm is also aiming to improve their official website and gain new customers.