RESTON, Va. and MCLEAN, Va.,Dec. 16, 2002 -- Comerica (NYSE: CMA), a leading financial services company, and Realeum, Inc., a provider of software for the multifamily housing industry, announced today that Comerica's Technology and Life Sciences Division has provided Realeum with a $1.5 million term loan that will be used to purchase equipment, as the company expands to serve additional customers.
"We understand the value Realeum's software solutions offer to the multifamily housing industry, so we are pleased to support the company's growth with this credit facility," said Bradley Steele, regional manager in Comerica's Mid-Atlantic Technology and Life Sciences Division. "Despite the current economic slowdown, we are committed to serving the local technology market and we continue to have the capability to work with companies through their entire lifecycle."
Founded in 1999, Realeum provides enterprise-class software products for apartment owners and operators, enabling them to achieve operational efficiencies. The company's solutions bridge the technology gap that currently exists between property managers, their consumers, and service provider industries such as banking, insurance, utilities, telecom, and ISPs.
"While we seek to expand our customer base, helping a growing number of property managers operate more efficiently and profitably, we also sought a banking partner with technology expertise and the ability to provide creative, flexible financial solutions," said Socrates Verses, president and CEO for Realeum. "We are glad to work with Comerica, which offers both."
About Realeum, Inc.
Realeum is an industry-founded company that was formed to fill the long-standing void in property management software for the multifamily real estate marketplace. The company's enterprise operating software empowers real estate decision makers to optimize their assets through more efficient on-site operations for site managers and better decision-making tools for portfolio managers. Realeum's flagship product, Realeum Foundation, is an enterprise solution that leverages technology to facilitate leasing and resident relationship functions, special service management, and billing and accounts receivable functions. For more information, visit http://www.realeum.com.
About Comerica's Technology and Life Sciences Division
Comerica's Technology and Life Sciences Division is one of the nation's leading technology banking practices, offering a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. Veteran bankers provide credit and financial services and products to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts in the computer products, Internet services, telecommunications, life sciences and e-commerce industries. From 19 offices located across the U.S., Comerica's Technology and Life Sciences Division serves all major technology centers. Comerica is among the 20 largest banking companies in the nation, with $52.6 billion in assets.
Media Contacts:
Lisa Brown
Realeum, Inc.
(703) 317-5100
lbrown@realeum.com
or
Lisa Throckmorton
The SheaHedges Group (for Realeum, Inc.)
(703) 287-7803
lthrockmorton@sheahedges.com
or
Adrienne Moch
Pacifico (for Comerica's Technology and Life Sciences Division)
(408) 293-8600 ext. 319
amoch@pacifico.com
or
Keith Turner
Comerica Bank-California
(408) 556-5111
keith_turner@comerica.com
