MRI Software acquires PropTech services leader Loci Solutions

by Sophie Berrill
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MRI Software has acquired Loci Solutions Group Pty Limited, an Australian property technology consulting and outsourced managed services company serving commercial, industrial and retail property markets across Asia Pacific. 

Loci Solutions has been a key partner of MRI for over 15 years, specialising in the implementation of property management systems for property developers, managers and owners/investors. It also provides value-add outsourced accounting and lease administration services, as well as concierge support. 

MRI’s acquisition of Loci follows a string of other property technology (PropTech) acquisitions by the US multinational real estate software company. In 2019, MRI acquired Rockend, which was then a market-leading provider of residential property and strata management solutions in Australia and New Zealand. MRI also completed a $93.4 million stock acquisition of PropTech Group (ASX:PTG) earlier this year.

Integrating Loci Solutions

Senior vice president and managing director for MRI Software in Asia Pacific, David Bowie says he is “excited” to welcome the Loci team to MRI.

“This acquisition strengthens our MRI @Work capabilities and enables us to scale and better support our commercial clients in their business growth. We’re particularly excited to add Loci’s outsourced lease administration services to our portfolio, helping clients automate manual tasks, reduce costs, and accelerate time to value,” he says. 

“As we integrate Loci’s capabilities into our solution suite, our clients will have a more consistent experience and further benefit from our combined PropTech expertise.”

Speaking in her new capacity as head of MRI professional services and support for MRI @Work, Asia Pacific, Loci CEO Nikki Steadman says, “We’ve felt like an extension of the MRI family for the last 15 years, and it’s an honour to be formalising our relationship.”

“Creating a united team like this allows an even more integrated approach for our commercial clients,” Steadman says.

Nikki Steadman, Loci Solutions CEO and co-founder

Nikki Steadman, Loci CEO and co-founder and the new head of MRI @Work professional services and support.

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