Apex Group, the Bermudian-based international financial services business, has closed its acquisition of Retransform from The Annet Group.

Retransform is a global real estate provider offering proptech, technology solutions and business managed services to commercial, retail, and corporate real estate customers.

The business serves more than 300 customers ranging from individual owner operators to some of the world’s biggest real estate asset, fund and property managers.

By driving operational efficiencies in real estate funds, Apex said, Retransform is helping make the real estate sector greener and cleaner, to the benefit of people and planet and cities across the world.

An Apex spokesman added: “With Retransform supporting more than two billion square feet of real estate globally, reinforced by a team of more than 700, the business is making a real impact when it comes to delivering a more sustainable real estate sector.

“The acquisition of Retransform further enhances Apex Group’s ability to partner with funds throughout a fund life cycle, and to become a single-source provider of fund services.

“By leveraging Retransform’s analytics, Apex Group will give real-estate investors actionable, data-led insights which will allow for better investment decisions to be made.

“Buildings are getting smarter and generating ever more environmental data, and this acquisition will enable Apex clients to better align with ESG regulation globally, as well as the sustainability goals of investors.

“It will also help support the real estate sector in reducing energy usage and achieving a sustainable transition to net zero.”

Peter Hughes, founder and CEO of Apex Group, said: “As greater numbers of individual and institutional investors choose to invest in a way which doesn’t impact the earth, and a growing body of ESG regulation makes sustainable investment easier, Retransform has an important role to play in helping the real-estate sector adapt.

“Bringing this business onboard supports Apex’s mission to deliver a smart, tech-enabled, one source solution to fund managers globally. Every industry is being reshaped by data and technology, and real estate is no exception.

“Retransform’s industry leading solutions, plus Apex’s expertise, will be a compelling, and unique, offer for real estate funds as we go into 2024.”

Rohan Bulchandani, founder of Retransform and The Annet Group, said: “After 25 years serving the real estate industry, we are excited to begin our next chapter at Retransform as part of Apex Group.”

He said: “This will be an advantage not just for Apex’s global client list who will now benefit from Retransform, but also for our existing clients, who’ll now be plugged into the expertise and service that Apex Group offers, from offices globally.”

Apex Group and Annet are also establishing a joint venture to develop software in the areas of data analytics, valuation, and digital twins for real estate.

Established in Bermuda in 2003, Apex Group has more than 100 offices worldwide and 12,000-plus employees in 45 countries.