New CRE Tech Platform Portfolio Spikes to 350+ Properties Valued Over $1.5B
MIAMI and VENICE, Calif., March 29, 2016 /PRNewswire/ — CREXi, the most powerful commercial real estate exchange for brokers, buyers and sellers, today announced the opening of its Miami office which will be led by Eli Randel, CREXi’s new director of business development. In addition to heading and growing CREXi’s east coast presence and sales, Randel will oversee the national sales team. Since launching its beta in Nov. 2015, CREXi has already attracted 350+ properties valued at over $1.5B.
“Eli brings a wealth of expertise in operations, overseeing sales from beginning to end, all while proficiently managing a team,” said Mike DeGiorgio, CEO and co-founder, CREXi. “With the incredible growth that we are experiencing at CREXi, we needed someone we trusted and knew first hand that he could help us grow operations quickly and efficiently.”
Randel was previously the director of dispositions of Invitation Homes, Blackstone’s single family rental division, where he managed bulk dispositions on behalf of the nation’s largest single family home investor. Before Invitation Homes, Randel served as director of capital markets at Cohen Financial where he was responsible for sourcing and structuring debt and equity for real estate developers and investors. Previously, Randel was a vice president at Auction.com Commercial, which he joined and helped launch when LNR Partners, where he was employed at the time. There Randel obtained an equity position in the online platform. Randel began his career at CBRE where he spent three years as a senior financial analyst before leaving to obtain his MBA at theUniversity of Florida on a full academic scholarship.
“I’m excited to be around an incredible team of deal makers and tech visionaries at CREXi. I truly believe our culture, product and technology, and lack of fees or friction costs make our product the best-in-class,” said Randel. “Buyers can find an aggregated marketplace of quality commercial real estate while brokers and sellers can ensure their listings are being exposed to the widest audience with white glove service and tools including deal activity tracking, comprehensive one touch reporting, and due diligence management. Brokers can operate significantly more efficiently allowing them to do more deals in less hours.”
The CREXi Miami office is located on the south side of the Miami River west of Brickell and Downtown. Miami and South Floridaare active investment sale markets, ripe with foreign capital, a hub to lenders and servicers, and home to an increasing amount of New York investors and high net worth individuals. The new location allows CREXi to have a home base well suited to cover the entire east coast.
The company recently raised $4.3 million in seed funding from Lerer Hippeau Ventures, Freestyle Capital, TenOneTen Ventures, Founder Collective, Karlin Ventures, Leon Capital Group and prominent angel investors and in the past month took on an additional $175K in funding from Cooley LLP, Baroda Ventures, and Dan Murillo.
CREXi is a commercial real estate marketplace that simplifies transactions for brokers with a suite of easy-to-use tools to manage the entire process from listing to closing. The platform currently has over 350 properties available to buy listed by some of the best brokers and brokerage shops in the country. Bringing the traditional CRE sales process online, CREXi leverages the latest advances in technology to make transactions ultra efficient. For more information visit CREXi.com.