Morgan Stanley-Backed CRE Tech Startup Acquired by Chatham Financial

Chatham Financial, a risk management technology and advisory provider, has acquired Verumex (VmX), a global data platform for the CRE industry. Financial terms of the deal were not disclosed.

According to VmX founders Nick Laird, Paul Hiatt, and Ravi Vijayaraghavan, the company addresses “challenges investors face in managing scaled portfolios with delayed, incomplete, and inaccurate information.” The company leverages a data platform to “aggregate, standardize, and clean” CRE data regardless of the size of the portfolio and geography.

“The lack of access to real time data combined with poor data quality leads to ineffective analysis and significant wasted time for CRE asset and investment managers,” said co-founder and CEO, Laird.

Chatham said that with more than $4 billion notional hedged per business day, over 250,000 daily derivative valuations, and over $1.7 trillion in debt principal on its system, the expanded platform “positions CRE investors with a competitive edge and ability to drive strategic outcomes.”

“We believe the acquisition and integration into the Chatham ecosystem will be a game changer for the industry,” added John Klopp, managing director, head of global real assets at Morgan Stanley. VmX was backed by Morgan Stanley Investment Management.

Founded in 1991, Kennett, PA-based Chatham serves over 3,500 companies across a wide range of industries, handling over $1 trillion in transaction volume annually.