RealPage, the Richardson, Texas company that sells software and data analytics to the real estate industry, said on July 14, 2026 that it had completed its acquisition of Cherre, a New York real estate data intelligence company used by institutional owners, investment managers and operators.
Neither company disclosed the price. Dealroom reported that RealPage chief executive Dirk Wakeham described it as a cash-and-stock deal but declined to give figures. A RealPage spokesperson told Multifamily Dive it was the first acquisition since Wakeham took over as president and CEO.
Cherre will keep its name, and its team will join RealPage. Co-founder L.D. Salmanson, who led Cherre as chief executive, will become a senior vice president at RealPage. The companies said Cherre would stay an open hub that connects to any property management system or data source.
What Cherre built
Cherre was founded in New York in 2016, with L.D. Salmanson as co-founder and chief executive. Its software pulls real estate data from many systems and resolves it into consistent identities, then links it in a knowledge graph that analysts and software can query.
The problem it targets is messy records. In the announcement, RealPage gave the example of one building that shows up as an address in a leasing system, as a different unit number in an operations tool and as a parcel ID in a tax file. Most software treats those as three separate assets, which makes it hard to answer a simple question such as why net operating income changed at a property.
According to the companies, Cherre's platform now resolves more than four billion entities and about $4 trillion in real assets worldwide. Its customers include institutional owners, asset managers and lenders that need portfolio and fund-level reporting.
“The work we've done at Cherre was building toward the moment the industry needed to move from reporting to reasoning. Joining RealPage lets us bring that future to the real asset ecosystem faster, without changing how we work with the clients who trust us today.”
Why RealPage is buying
RealPage says it serves more than 42,000 customers and 24 million housing units. Its software mostly runs day-to-day property operations. Cherre adds data at the portfolio and fund level, and RealPage said the combination would link what happens at a single building with decisions made by investment managers.
Wakeham told Dealroom that RealPage holds about 25 petabytes of data that is largely unorganised, and that Cherre gives it a way to structure that data. He said clients often have capable AI models but point them at data that has not been reliably reconciled, so they cannot use the results to make decisions. In comments to Multifamily Dive, he said the deal connects the property to the portfolio to the fund in one governed foundation.
Salmanson said the timing was driven by the move to AI. In the release, he said the industry needed to shift from reporting to reasoning, and that joining RealPage would let Cherre move faster without changing how it works with existing clients.
The founders and the funding
Cherre raised about $105 million in total, according to Dealroom. In April 2021 it announced $50 million in growth funding led by Trustbridge Partners, with new investors Glilot Capital Partners and former Goldman Sachs vice chairman Mark Schwartz, and existing backers Intel Capital, Navitas Capital and Carthona Capital. Silicon Valley Bank expanded its relationship with the company in the same round.
In September 2024 Cherre raised a $30 million Series C led by HighSage Ventures. Nuveen Real Estate, RXR and principals of TA Realty joined, along with earlier investors Trustbridge Partners, Glilot Capital Partners, Intel Capital and Carthona Capital.
Software Equity Group acted as Cherre's financial adviser on the sale and Goodwin Procter was its legal counsel. Kirkland & Ellis advised RealPage.
What happens to customers
The companies said Cherre customers would keep working with the same team and would keep their current controls over who can access their data. They will also get access to RealPage's engineering and deployment staff to move projects from data cleanup into AI tools used in production.
RealPage customers, in turn, will be able to use Cherre's layer to connect property-level figures with portfolio and fund-level reporting. The companies said any application or data vendor would still be able to connect to Cherre under permissions and security rules set by the customer.
Data governance is a sensitive topic for RealPage. Multifamily Dive noted that the company has faced many lawsuits over its algorithmic rent pricing software and settled a major case with the US Justice Department at the end of 2025, while other suits continue.
