Executives said the transaction represents another step in Propy’s broader expansion strategy aimed at acquiring title and settlement businesses and integrating them with the company’s technology platform.
“We are excited to expand into the institutional market, where large real estate operators need infrastructure that can support closures at scale,” said Natalia Karayaneva, CEO of Propy. “With attorney Chris Boss joining us, we are accelerating the adoption of Propy among REITs and institutional real estate investors across the country.”
While conventional home sales can take 45 to 60 days to close, Propy cited that institutional investors often work on timelines of five to 14 days.
Florida represents one of the largest housing markets in the country, with approximately $154.6 billion in residential real estate transactions annually. A growing segment of that activity involves investors who buy and sell real estate in rapid cycles as part of large investment portfolios.
The acquisition is intended to expand Propy’s capacity to support those types of large-scale operations, the company said.
“We contacted Propy because our clients were demanding blockchain security for title deeds,” said Boss Law owner Chirstopher Boss. “What we discovered was a company using AI and blockchain to make titles and real estate better for everyone, the investors we serve and our team that does the work. It was easy to join them.”
Propy has built a technology platform designed to automate parts of the closing and escrow process.
The systems use artificial intelligence (AI) to assist with tasks typically handled by title and escrow staff, including document processing and transaction coordination.
The company’s AI platform includes a system called Avery, which Propy describes as an automated escrow officer designed to manage certain elements of closing workflows.
Propy says the technology is intended to reduce manual workload within title operations, while allowing existing staff to handle higher transaction volumes.
According to the company, the long-term goal is to reduce manual workload by approximately 70% and enable staff at acquired ownership operations to process approximately twice as many transactions.
The acquisition of Boss Law follows Propy’s previous purchase of Title Delta South in Alabama – with plans to invest up to $100 million in additional acquisitions.
