Lev, a commercial real estate financing platform, and cloud-based investment management provider AppFolio announced today a partnership to enable real-time commercial real estate (CRE) financing quotes, according to a press release shared with FinLedger.
The partnership is set to directly integrate Lev’s technology, including the only CRE industry API, into AppFolio’s Investment Management dashboard to offer customers an end-to-end financing solution.
“The Lev mission is to provide refreshingly fast, surprisingly transparent access to financing for commercial real estate owners and investors,” Lev CEO Yaakov Zar stated in the release.
“We’re scaling up by partnering with well-known real estate industry innovators like AppFolio. Together, we’re making the CRE investment experience better for everyone involved, helping owners get the best access to financing for their properties,” he said.
This end-to-end solution means investment managers will be able to review customized options (such as loans and lines of credit), through Lev’s proprietary analysis and pricing engine without duplicating data.
This integration will allow AppFolio Investment Management customers to originate financing more quickly and efficiently, in turn allowing them to get better rates and maximize deal performance,” AppFolio SVP of Real Estate Investment Management Nat Kunes said.
According to the release, this partnership is in response to an ongoing change in the CRE financing space, with commercial borrows demanding fast, digital experiences that mirror the best of consumer lending.
Lev has seen impressive growth recently by tackling this demand, achieving 10x year-over-year growth and passing $1 billion in commercial mortgages in 2021.
AppFolio on the other hand, was founded in 2006 and made its NASDAQ debut in 2015 under the ticker symbol APPF.
The company has made two acquisitions since launch, including Dynasty.com and Renter’s Friend, and also recently partnered with SmartRent in September 2021 to offer synchronization of units, leases, residents and services through its cloud-based platform.