NEW YORK, March 10, 2020 /PRNewswire/ -- Skyline AI, the AI investment manager for commercial real estate, and AION Partners, a New York-based principal and operating partner for real estate investments, announced the closing of an AI-infused real estate deal in the Mid-Atlantic region. This marks Skyline AI and AION Partners' second deal together - the first was in 2018 with the acquisition of two residential building complexes in Greater Philadelphia.
Using its ensemble of machine learning models to illuminate deep asset data, Skyline AI's platform detected that this opportunity presented below market rent predictions. Together, AION Partners and Skyline AI underwrote this off-market deal.
"Since incorporating AI in our Philadelphia deal, we've seen firsthand how Skyline AI's technology has supported our capabilities," said Michael Betancourt, Managing Director at AION Partners. "We look forward to expanding our relationship with Skyline AI, the leader in AI investment management, to close even more off-market opportunities and are confident that this is only the beginning of a long and prosperous journey."
"The closing of this off-market deal is another clear demonstration of the power harnessed by human expertise and artificial intelligence working together," said Guy Zipori, Skyline AI CEO & Co-founder. "We are thrilled to continue working with AION to unlock hidden opportunities in the regional ecosystem. There's no doubt that with AION's extensive industry knowledge and expertise, we have only touched on the potential of our partnership."
This marks Skyline AI's third AI-based real estate deal. In 2018, Skyline AI and AION Partners acquired two residential building complexes in Philadelphia, valued at $26M. In December 2019, Skyline AI acquired a residential building complex in Roswell, Georgia with a local Atlanta operating partner, valued at $57M. With an impressive list of partners including DWS Group, JLL, and more, Skyline AI expects further exciting acquisitions in the near future.
About Skyline AI
Skyline AI is the artificial intelligence investment manager for commercial real estate. Skyline AI partners with leading commercial real estate firms to establish next-generation investment vehicles augmented by artificial intelligence. Founded in 2017, Skyline AI is backed by Sequoia Capital, JLL (NYSE: JLL), TLV Partners, Nyca Partners, DWS group and others. The company has offices in New York and Tel Aviv.
About AION Partners
AION Partners acts as principal and sponsor of opportunistic real estate investments across the United States. The AION team has a proven track record of creating value and managing risk through redeveloping, repositioning, and managing assets in order to maximize returns to its investors.
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SOURCE Skyline AI