Lehi property management platform Entrata acquires Florida's Colleen AI

Lehi-based Entrata, a multifamily property management operating system, has acquired Colleen AI of Daytona Beach, Florida. Colleen AI is a platform that helps multifamily property managers automate property management workflows through rent collection and renewals.

“By incorporating Colleen AI into the Entrata OS, operators can take the next step toward autonomous property management, introducing a new era for the industry.” Entrata said in a statement. “Entrata’s vision of the future has autonomous property management at its core, making workflows increasingly automated and portfolios more efficient while simultaneously delivering an elevated resident experience.”

“The acquisition of Colleen AI significantly accelerates our vision of autonomous property management while immediately providing our customers with comprehensive AI capabilities, market-ready functionality, and a team of multifamily AI experts,” said Adam Edmunds, CEO of Entrata. “Through this combination, operators can power end-to-end automated workflows and interactions. This, in turn, will allow teams to concentrate on meaningful resident connection and high-impact tasks to positively impact the resident experience and, ultimately, net operating income.”

“One of the key challenges to effective AI is high-quality and current data,” said Itamar Roth, CEO and co-founder of Colleen AI. “By introducing Colleen AI as native technology to the Entrata OS, the efficacy will be unmatched in the multifamily industry, dramatically accelerating the possibilities for autonomy in many areas that don’t exist today. We are thrilled about the innovation potential this combination brings.”

As part of the transaction, shareholders of Colleen AI, including Wilshire Lane Capital, will become shareholders of Entrata Inc.