CIBC Innovation Banking provides VTS with a US$150 million credit facility to accelerate growth

0

NEW YORK, March 03, 2022–(BUSINESS WIRE)–CIBC Innovation Banking is pleased to announce the lead arrangement of a $150 million syndicated debt financing for New York-based VTS, a leading provider of commercial real estate software. VTS will use the capital to accelerate investments in its strategic product roadmap, mergers and acquisitions and global market expansion.

VTS’ leasing and asset management software provides landlords and brokers with one place to track all of their leases, assets and tenants through an easy-to-use, intuitive platform that empowers commercial real estate professionals to work smarter, not harder.

“VTS’s platform brings innovation to the commercial real estate sector by unlocking key insights and reporting capabilities,” said Caroline Tkatschow, director in the New York office of CIBC Innovation Banking. “We look forward to working with the VTS management team and supporting the continued national and global growth of their business.”

VTS was founded by real estate professionals who have experienced first-hand the challenges landlords and agents face today. Over 45,000 brokers and wealth managers around the world trust the platform to manage over 12 billion square feet of commercial real estate.

“The CIBC Innovation Banking team has been incredibly supportive of our team at VTS as we continue to grow our business,” said Bob Bies, VTS Chief Financial Officer. “We are grateful for their support, which will enable our immediate market growth plans and accelerate our product initiatives.”

VTS is also supported by Insight Partners, OpenView, Trinity and Bessemer Venture Partners, among others.

About CIBC Innovation Banking
CIBC Innovation Banking provides strategic advice, cash management and financing to innovation companies across North America, the UK and select European countries at every stage of their business cycle, from inception to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, London, Menlo Park, Montreal, New York, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that spans the entire commercial banking and capital markets business by CIBC extends to the US, Canada, UK and select European markets.

About VTS
VTS is the leading commercial real estate leasing, marketing, wealth management and tenant experience platform, where the industry does business and brings real-time data to life. The VTS platform captures the industry’s largest first-party data source, delivering real-time insights that enable faster, more informed decision-making and connections throughout the transaction and asset lifecycle. VTS Data, the industry’s only forward-looking market dataset, and VTS Market and Marketplace, the industry’s first integrated online marketing solution, offer landlords, agents and tenants unprecedented visibility into real-time market information and the direct connectivity to close deals with more Speed ​​and intelligence at every point in the planning, marketing, leasing and asset management cycle. VTS Rise is the industry’s most comprehensive tenant experience solution, providing residents, building operators and visitors with an immersive, technology-enabled experience. More than 60 percent of Class A office space in the United States and 12 billion square feet of office, retail and industrial property worldwide is managed on the VTS platform. The VTS user base includes over 45,000 CRE professionals, including respected industry leaders such as Blackstone, Brookfield Properties, LaSalle Investment Management, Hines, Boston Properties, Oxford Properties, JLL and CBRE. To learn more about VTS and to view our open positions, visit www.vts.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220303005163/en/

contacts

Josh Burleton, [email protected], 416-304-2712

Share.

Comments are closed.