Online investment sites find symbiosis

Propex and PrimePitch merge to create a larger, more versatile marketing tool.

By Adam Tinworth

Propex, the electronic investment property exchange, and PrimePitch, the online investment marketing site, have been merged into one operation. The two have been operating from the same offices since early this year, when PrimePitch bought a 33% stake in Propex and the firm’s Paul Marples took over the running of Propex.

The combined company will trade under the Propex-PrimePitch name. It will have 55 shareholders from all levels of the property industry.

The reasoning behind the merger is that Propex members will be able to use PrimePitch’s services to market their smaller investments to private investors worldwide, as well as using Propex to sell larger properties and portfolios.

Since Propex launched seven months ago, it has sold 660 subscriptions from 35 agencies and 15 institutions, including the shareholders who invested in the venture initially. The company is suggesting that around 20% of all introductions made to members funds are coming through the exchange.

To coincide with the merge, the websites have been significantly redesigned. Major new features include the ability for disposing agents to enter property details directly into the website, and new prices for the firm’s marketing services.

“This is an industry-wide solution, owned by the industry for the industry,” says MD Paul Marples. “It does not change the fundamental way in which investment transactions take place, but it provides enormous efficiency to the transaction process.”