Market Overview

Real Estate Tech Firm, AreaProbe Approved to Assist Real Estate Investors in Virginia

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WASHINGTON, Jan. 25, 2018 (GLOBE NEWSWIRE) -- Washington, DC based real estate services company, AreaProbe, LLC was recently approved by the Virginia Housing Development Authority (VHDA) as an affordable housing Market Analyst. This approval designates AreaProbe as one of the few firms deemed qualified to serve as an Advisor to investors and real estate developers that seek to obtain capital from the local development authority to fund LIHTC (Low Income Housing Tax Credit) deals.

AreaProbe leverages technology to accelerate the time it takes create reports and analyze a real estate market for its customer base. A typical market study or feasibility analysis takes approximately 3-4 weeks to produce for most firms, however, AreaProbe is disrupting the industry by aiming to complete market studies within a week! 

The company anticipates marketing it services to affordable housing developers seeking financing from VHDA immediately to build brand recognition in the state of Virginia. The real estate tech company also offers similar market studies for market rate housing developers and investors seeking to validate assumptions about a PMA (Primary Market Area). These assumptions include aggregating data to gauge the potential demand for rental housing units based on the demographic make-up of a community, and the development pipeline.

AreaProbe now services housing developers/investors, financiers, and tax credit syndicators in the District of Columbia, Maryland, Virginia, Kansas, and New Mexico. The company expects to add Minnesota and Ohio to its coverage area before March of 2018, and North Carolina in the coming months.

In 2016, AreaProbe was selected by Entrepreneur Magazine as one of the Top 360 companies in the United States, the company has been highlighted at SXSW, StartUp Grind, and most recently, the 2017 Global Entrepreneurship Summit as a delegate company to represent the U.S. Department of State in Hyderabad, India.

About AreaProbe

AreaProbe is a real estate analytics company that aims to modernize the way people connect, obtain capital, and evaluate spaces in the real estate sector. To learn more visit www.areaprobe.com, or email info@areaprobe.com.

Contact Information

Marvin Leatham
1133 15th Street, NW 12th FL
Washington, DC 20005
pr@areaprobe.com

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