GROWTH STRATEGY
GROWTH STRATEGY
M&A - Straightforward Strategy with Built-In Upside
Acquiring franchise or
small, local operators who
can only provide retail
property management
services gives Appreciate
built-in revenue upside
Illustrative Acquisition Upside
+75% Revenue Uplift
Appreciate
From Acquired Property Managers by adding Institutional and
Marketplace Services ("Full-Service Revenue")
~$3.0M
+~$2.3M
(+75%)
~$5.3M
~$2.3M
Acquired Property
Manager Revenue (¹)
(1) Represents 2022E Company retail management revenue per property of ~$3,000, assuming 1,000 properties under management
(2) Represents 2022E total revenue (excluding franchise) per average Company-managed property
~$3.0M
Retail Management-only Revenue
Appreciate's
End-to-End Platform
Revenue(2)
Full-Service Revenue
Private & Confidential
30
30View entire presentation