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RentPath Holdings set to be purchased by Redfin for $608 million
By Sarah Lizee
Olympia, Wash., Feb. 19 – RentPath Holdings, Inc. has entered into an asset purchase agreement with Redfin, under which Redfin will acquire the company for $608 million, according to a press release.
As previously reported, RentPath had entered into a stalking horse agreement with CoStar Group, Inc. affiliate CSGP Holdings, LLC. The stalking horse agreement was approved by the U.S. Bankruptcy Court for the District of Delaware in June, but the agreement was terminated in December. The purchase price under that agreement was $587.5 million.
The new asset purchase agreement is subject to court approval.
RentPath is an Atlanta-based vertical search company for apartment and home renters. The company filed bankruptcy on Feb. 12, 2020 under Chapter 11 case number 20-10312.
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