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Propexo Connect is now available. 127 managed connectors from your operational stack into the warehouse you own. Read the announcement

Cherre & Connect

Cherre is the market-data layer, and since July 2026 a RealPage company. Propexo is the operational-data layer, independent of every PMS vendor. They sit one tier apart in the same stack.

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The 60-second version

Two companies. Two different data problems. One of them changed owners in July 2026. Here is the distinction in one view.

Cherre logo

Cherre

“Real estate data management made beautifully simple.”

Ownership
RealPage, since July 14, 2026. Brand retained, team joined RealPage.
Primary data source
Third-party market data (comps, demographics, economic, permits)
Primary buyer
Asset & investment managers
Vertical focus
Broad CRE: multifamily, office, industrial, retail, storage, senior, student, SFR
Example question it answers
“Is our industrial portfolio outperforming Green Street submarket benchmarks this quarter, and where are the yield gaps?”
Propexo logo

Connect

“Get your property data flowing, no code required.”

Ownership
Independent. Propexo is not owned by any property management software vendor.
Primary data source
First-party operational data (from your PMS, leasing, maintenance, resident, and AI tools)
Primary buyer
Multifamily operators, IT & analytics, proptech builders
Vertical focus
Multifamily, deep
Example question it answers
“Across our 14,000-unit multifamily portfolio, which properties have the fastest-growing work-order backlogs, and which PMS is that data trapped in?”

What does the RealPage acquisition change?

RealPage completed its acquisition of Cherre on July 14, 2026. Cherre keeps its name, its team joined RealPage, and RealPage says the platform will keep working across every property management system. What the deal does to Cherre’s roadmap, its pricing, and its independence from the largest PMS vendor in multifamily is not yet public. Below is the line between what RealPage has said and what nobody outside RealPage knows.

What RealPage has said

  • RealPage completed the acquisition on July 14, 2026. Terms were not disclosed.
  • Cherre keeps its name. Its team joined RealPage, and co-founder L.D. Salmanson became a RealPage senior vice president.
  • RealPage says Cherre has always worked across any property management system and any data source, and that this “will not change.” It describes Cherre as an open hub that applications and data vendors can connect to.
  • RealPage says customers keep every control and protection they have today.

Source: RealPage’s announcement, July 14, 2026, and press coverage of it. We paraphrase rather than quote, and we will correct anything RealPage or Cherre shows us is wrong.

What nobody outside RealPage knows

Roadmap priority
Whether new source connectors and data-model work land first for RealPage’s own operating data, and how far behind Yardi, Entrata, AppFolio and MRI follow.
Product direction
Whether Cherre stays a standalone data-management platform or becomes the data foundation under RealPage’s own analytics and AI products, with pricing and packaging to match.
Independence in practice
How a commitment made in a press release holds up through a change of leadership, strategy or ownership at the parent. A release binds nobody. A contract clause does.
Data use
Whether operating data from a Yardi or Entrata portfolio, once resolved inside a RealPage-owned platform, informs benchmarks or models that RealPage sells to the rest of the market.
Value for operators on another PMS
Whether the platform’s value to an operator running a competing PMS grows, holds, or erodes over a three-year contract. Nobody outside RealPage knows this yet, and we do not claim to.

The precedent

RealPage has bought a system-agnostic data layer before. In 2018 it acquired Rentlytics, a portfolio BI product built to work across any PMS. Our post on why multifamily BI keeps selling the same promise covers how that played out. One case is not a pattern, and Cherre is a different product in a different decade. It is the reason to settle the questions below before signing rather than after.

Five things to ask Cherre before you sign

  1. 1
    Put the any-PMS commitment in the contract, with a stated remedy if it lapses.
  2. 2
    Ask for the twelve-month roadmap for Yardi, Entrata, AppFolio and MRI source connectors, in writing.
  3. 3
    Ask who can see, aggregate or model your operating data, and whether RealPage business units are excluded.
  4. 4
    Ask what you can take with you: a full export of the resolved dataset if you leave, and on what terms.
  5. 5
    Ask how pricing changes if Cherre is bundled into RealPage products, and whether standalone pricing survives.

Where each one fits in the stack

Asset / portfolio analytics Market data, benchmarks, LP reporting
← Cherre (RealPage)
BI dashboards & operational apps
Resident-facing & onsite apps
Your data warehouse Snowflake, BigQuery, Databricks, RDS
Data integration layer PMS, leasing, maintenance, AI tool connectors
← Propexo
Source systems Entrata, RealPage, AppFolio, Buildium, HappyCo, Funnel…

Side by side

Every claim below about Cherre comes from its own public homepage and partner copy, and every claim about ownership comes from RealPage’s acquisition announcement of July 14, 2026.

Cherre

Ownership
RealPage. Acquisition completed July 14, 2026, terms not disclosed.
Who sets the roadmap
RealPage. Its stated commitment is that Cherre keeps working across any PMS. Priorities beyond that are not public.
Core product positioning
Real estate data management across the data lifecycle: ingestion, transformation, output.
Primary data origin
Third-party market data vendors
Connector type
Market data, demographics, permits, comps, economic, ESG, foot traffic
Representative connectors
ClearCapital, Compstak, Green Street, MSCI-RCA, Equifax, Safegraph, Amadeus, ZoomInfo
Connector count (per vendor’s own site)
150+ data and application partnerships
Data model approach
“Universal Data Model” for institutional real estate
Warehouse destinations
Delivered via Cherre’s managed data platform
Where it sits in the stack
Market-data & portfolio-analytics layer
Typical use cases
Portfolio yield analysis, risk benchmarking, LP reporting, market comps

Connect

Ownership
Independent. Not owned by any PMS vendor.
Who sets the roadmap
Propexo. RealPage, Yardi, Entrata and AppFolio are peers in the source catalog, none of them the owner.
Core product positioning
Pre-built connectors that move property data from your proptech stack into your warehouse.
Primary data origin
First-party operational systems
Connector type
PMS, leasing, maintenance, resident engagement, AI leasing, access control
Representative connectors
Entrata, RealPage, AppFolio, Buildium, HappyCo, Funnel, EliseAI, Travtus, Lessen
Connector count (per vendor’s own site)
127+ property-tech connectors, multifamily-focused
Data model approach
Source-native tables in your warehouse. Model your own or use the Unified API
Warehouse destinations
Snowflake, BigQuery, Databricks, Amazon RDS, Postgres
Where it sits in the stack
Operational-data extraction & warehouse-loading layer
Typical use cases
Unified resident profiles, portfolio-wide operator KPIs, proptech product development

When Cherre is the right call

Cherre’s team is good at what they do, and the acquisition does not change the market-data problem they solve. If any of these describe you, talk to them. One condition now applies to every item: confirm the answer holds under RealPage ownership, using the questions above.

  • You’re an asset manager or investment manager benchmarking fund performance or yield.
  • Your portfolio spans multiple CRE verticals (office + industrial + retail + multifamily) and you need comparable data across them.
  • You need market comps, public records, permits, demographic, ESG, or foot-traffic data.
  • You’re building portfolio-level risk or valuation models for LPs.
  • You’ve standardized on a universal data model for institutional reporting.
  • You run RealPage as your PMS. Your operating data and your market data now sit under one vendor, which is the case where the acquisition is plainly upside.

When Connect is the right call

If most of your data lives inside the systems you operate every day, this is the layer we built.

  • You’re a multifamily operator (or a proptech company serving one) and most of your data lives inside your PMS, leasing, maintenance, resident, and AI tools.
  • You operate on multiple PMS platforms (Entrata + RealPage + AppFolio + Buildium) and need all your PMS data in one warehouse.
  • You run Yardi, Entrata, AppFolio or MRI and want the layer that moves your operating data to answer to you, not to a competing PMS vendor’s roadmap.
  • Your primary users are operators, IT/analytics, or proptech developers, not LP-facing analysts.
  • You need unit-, lease-, resident-, and work-order-level truth in Snowflake, BigQuery, Databricks, or RDS.
  • You’re building a product on top of PMS data and want one unified API instead of ten.
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Can I use both? Yes.

The two products sit at different layers, which means they compose cleanly. A common pattern:

  1. 1

    Connect

    Moves your operational data (PMS, leasing, maintenance, resident, AI tools) into your warehouse.

  2. 2

    Your warehouse

    Snowflake, BigQuery, Databricks, or RDS holds the unified dataset. One source of truth for your operation.

  3. 3

    Cherre, a RealPage company

    Market-data overlays (comps, demographics, benchmarks) join the same warehouse, or Cherre’s Universal Data Model, for portfolio analysis. If you run a PMS other than RealPage, settle the roadmap and data-use questions above first.

FAQ

Is Cherre still independent after the RealPage acquisition?

No. RealPage has owned Cherre outright since July 14, 2026. Cherre keeps its brand, and RealPage has said publicly that the platform will keep working across any property management system. Whether that holds in roadmap priority, pricing and data terms over the life of a contract is not public, so get it in writing before you sign.

Does the RealPage acquisition change who should buy Cherre?

Not for asset managers whose need is third-party market data, which stays Cherre’s core. It adds a question for operators on Yardi, Entrata, AppFolio or MRI who planned to route operating data through Cherre: ask how a RealPage-owned platform prioritizes and protects a competing PMS’s data before you commit.

I run RealPage. Is the acquisition good for me?

Probably. Your operating data and your market data now sit under one vendor, and RealPage has every reason to make Cherre work well with its own PMS first. Connect still applies if you also run other systems, or if you want the raw operating data in a warehouse you own rather than in a vendor’s platform.

Does Propexo have market data?

Limited. Market comps, demographics, and public-records data are not our focus. They are Cherre’s. If that is your primary need, talk to them.

Does Cherre connect to Entrata, RealPage, or AppFolio?

Some operational-system integrations exist in Cherre’s partner ecosystem, and since July 2026 RealPage is Cherre’s parent. Breadth and depth across the multifamily operational stack, on every PMS equally, is Connect’s focus.

Is this page endorsed by Cherre or RealPage?

No. We wrote it to be fair. Every claim about Cherre comes from its public homepage and partner copy, and every claim about the acquisition comes from RealPage’s announcement of July 14, 2026 and press coverage of it. If anything reads unfairly, email [email protected] and we will fix it.

I already use Cherre and want operational data. What do I do?

Talk to us. Connect can feed your warehouse alongside Cherre, with operational data from your PMS stack on one side and market overlays from Cherre on the other. Keeping the operating pipeline in a layer no PMS vendor owns also answers the independence question for that half of your stack.

Other comparisons

Evaluating more than one vendor? These are the other head-to-heads worth reading.

Still not sure which one fits?

Book a Propexo demo