Redfin To Pay $608M For Bankrupt Property Co. RentPath

Law360 (February 19, 2021, 10:17 AM EST) -- Redfin Corp. will pay $608 million for bankrupt online property marketing company RentPath Holdings Inc., the companies said Friday, in an agreement that comes only a few months after CoStar Group's attempted RedPath acquisition fell apart over federal competition concerns.

The transaction sees Seattle-headquartered online real estate agency Redfin picking up Atlanta-based RentPath, which runs websites including ApartmentGuide.com, Rent.com and Rentals.com, according to a statement. Redfin enables users to buy and sell homes online, while RentPath is more focusing on the rental market.

Glenn Kelman, CEO of Redfin, said in the press release that "together with RentPath, we can create an online...

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