Argus software, the industry standard for underwriting commercial real estate, has put forth a new platform together with RIISnet to attempt to provide a central clearinghouse for distressed assets for sale where buyers and sellers can find each other. Of course they do not claim to have any exclusive sale agreements and it’s not even clear if they are formally acting as a broker or not–it appears not. They claim to have $2 billion in assets and 240 companies populating the database so far. There is a conference call at 2pm ET today in which they will lay out the platform. This seems way outside their usual business and it’s hard to believe they can really compete with brokers in a meaningful way.
Below is the e-mail I received and their powerpoint laying out the pitch:
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Together with +90,000 plus members of the ARGUS ecosystem worldwide we will turn this market in a new direction. The solution currently has over 2 Billion in assets and 240 professional investment companies that comprised 30% of the value of all the CRE transactions over $5M in 2007.
What is ARGUS DAS? (See the attached presentation to learn more)
A fully integrated solution for all distressed assets regardless of size, value, property type, or location. The web based platform allows for instant electronic global access to every asset and the ability to allow visibility to all stakeholders using password protected entry. The process of review, recommendation, work out and disposition is made highly efficient through the joint efforts of Alliance, Argus, and RIISnet. Standard templates will be supplied for information management. All of this will create faster transactions and higher prices.
Why do you want to participate?
Make sure you and your company benefit from the move. There is no cost to learning more.
How to register for the call
1. Be on the conference call tomorrow at 2:00pm CST.
2. Email me at mkingston@argussoftware.com to receive your meeting invitation.
3. Register on “ARGUS Zone.”
4. We will only have room for the first 50 requests during this call. Based on the response we will schedule calls as required.
THIS IS IMPORTANT. This will give you access to the new solution and related information during our call tomorrow.
Thank you for participating.
Mark
| Mark P Kingston President & CEO Office: 713 341-3556 mkingston@argussoftware.com |
