Private equity firm acquires parent of Irvine-based RealtyTrac

A Southern California-based data company considered a go-to source for repossession numbers throughout the real estate accident has actually been gotten.

Exclusive equity company Lovell Minnick Allies, which has workplaces in the Philadelphia area, New York as well as El Segundo, revealed Tuesday, Jan. 8, it has actually gotten Irvine-based Attom Data Solutions— referred to as RealtyTrac during the foreclosure dilemma. Regards to the deal, which shut on Friday, Jan. 4, were not divulged, but a company spokesman stated Lovell Minnick commonly spends between $30 million as well as $150 million per purchase.

RealtyTrac’s monthly reports of intensifying repossessions were an essential of nationwide information tales as waves of home defaults brushed up through the country during the 2007-12 real estate market disaster. More than 8 million U.S. families lost their houses to repossession during that duration, plus millions more who shed their houses with “short sales” or willingly surrendered their acts.

In addition to regular monthly information reports to the media, RealtyTrac supplied property info to subscribers investing in foreclosures.

The firm began increasing its property information services after an Antitrust Division judgment required data company CoreLogic to license its real estate numbers to RealtyTrac as a condition of CoreLogic’s acquisition of another famous housing details company, DataQuick. In 2016, with foreclosures in serious remission, RealtyTrac’s parent business rebranded itself as Attom Data, with accessibility to building data on 155 million UNITED STATE residential or commercial properties in locations covering 99 percent of the UNITED STATE population.

Attom Information remains to provide repossession information, but also sells companies and also financiers information concerning real estate tax, ownership, ecological and all-natural threats and communities. The firm likewise uses its property database to run such sites as RealtyTrac.com, Homefacts.com and also HomeDisclosure.com.

Lovell Minnick concentrates on investments in economic and also business services fields. A company spokesperson claimed Lovell Minnick increased $3 billion in the past twenty years and spent in 50 companies. The firm acquired Attom Data from Renovo Capital and also Rosewood Private Investments. Amongst its recent financial investments, Lovell Minnick acquired a stake in Los Angeles-based Currency Resources, an equipment funding company. Lovell Minnick elevated $750 million in 2015 for its most current mutual fund, the business spokesperson stated.

Attom, which will certainly remain in Irvine, plans to proceed its expansion under its new proprietors, Attom Chief Executive Officer Rob Barber claimed in a firm statement.

“We eagerly anticipate the following phase of our development,” Barber said.

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