Redfin completed the $608 million acquisition of Atlanta-based apartment-listing provider RentPath on April 2, closing a transaction that was expected to take 90 days in only 42, Redfin CEO Glenn Kelman said.
“We can’t wait to tell RentPath’s property-management customers, who were once uncertain about the company’s future, about our big plans to double our audience of people seeking a home to rent,” Kelman said in a press release.
RentPath’s sites, which include ApartmentGuide.com, Lovely, Rent.com and Rentals.com, will continue to operate as normal while their listings are integrated with Redfin.com, a process that is expected to wrap up in 2022.
RentPath will remain headquartered in Atlanta, and President Dhiren Fonseca will stay on to assist with the integration while Redfin seeks a permanent leader for the rentals business.
Redfin will provide initial financial guidance on the rentals business on its next earnings call.