JANUARY 12, 2023
Buildout Acquires Oval Room Group, Expanding CRE Marketing Capabilities
Press Contact: Jen Shelgren
Chicago, IL—Buildout, the developer of the premier commercial real estate (CRE) platform used by one-third of brokers to find, win, market, and transact listings, announced today that they have acquired Oval Room Group, a national CRE visual media solutions company.
As part of this acquisition, Buildout expands its offerings to include a single source for all visual media services, a critical element to successful property sales and leasing marketing campaigns.
“To say that the modernization of commercial property marketing is moving fast would be an understatement. Yesterday, compelling, quality visual media was a competitive advantage. Tomorrow it’s table stakes.” said Kris Krisco, Co-CEO of Buildout. “In talking to Oval Room Group, Buildout discovered a mutual belief – that brokers and property owners shouldn’t be handicapped by their ability to showcase properties to the fullest extent. By combining our companies, we’re bringing together our battle-tested CRE software technology with their unmatched media asset service to free you from those shackles and make your properties stand out.”
Oval Room Group’s services boast fast turn-around times for the creation of stunning and impactful CRE visual media ranging from aerial visuals, photography, videography, concept plans, renderings, virtual tours, and more. The Buildout platform provides a hub that scales out to form an integrated, full-lifecycle deal-generation engine that powers research, prospecting, marketing, matchmaking, transaction management, and deal closing. Combined, Oval Room Group’s CRE media solutions and expertise perfectly complement Buildout’s deep expertise in CRE marketing and deal management solutions.
“Building the single-source visual media juggernaut for CRE has been our goal since the beginning,” said Alex Taylor, CEO, and founder of Oval Room Group. “We couldn’t be more thrilled to see our vision further realized through this integration with Buildout, which creates a truly one-of-a-kind industry resource that eliminates access barriers to the full spectrum of CRE visual media.”
The deal was executed in conjunction with Buildout’s primary investment partner, The Riverside Company which invested in Buildout in July 2020. Riverside is a global private investor focused on the smaller end of the middle market. “Not only are their markets and solutions complementary, but Oval Room Group and Buildout teams also share a vision and passion for delivering world-class CRE solutions,” said Riverside Managing Partner Loren Schlachet.
About Oval Room Group
Oval Room Group is the only national commercial real estate visual media solutions company that delivers dynamic visual experiences through powerfully immersive and innovative media. Oval Room Group has completed over 2,000 projects representing over 250M square feet of commercial space and impacting over $100B in project value. More information is available at www.ovalroomgroup.com.
Headquartered in Chicago, Buildout is the leading commercial real estate platform in North America. The Buildout platform is trusted by over one-third of CRE brokers to find, win, market, and transact more listings faster, at top dollar. Learn more at www.buildout.com.