In parallel, he was seeing how the emergence of dozens of companies that were changing the way in which residential real estate was being transacted through better automation and software platforms.
Keyway raises capital to transact their real estate deals with the idea of creating a marketplace in which they connect real estate investors that are really interested in having access to real estate opportunities at scale. Prior to Keyway, closing a $1 million deal took the same amount of time and effort as a $50 million transaction. At the same time, Keyway’s programmatic platform offers small and medium businesses access cheap capital at scale.
Today, Keyway continues to ramp up its transactions. According to Recchia, the company has $50 million in asset transactions so far, with the average transaction around $2 million. The company is currently focused on single tenant buildings, or buildings operated by only one business. So far Texas and Arizona are high growth markets for them, but they transact in every market and expect to reach $200 million in property transactions by year end.
Recchia was born in Argentina. His father was in the oil and gas industry. The family moved to Venezuela when he was young and it’s where he spent much of his childhood. With the political upheavals in 2000, the family moved to the US. Recchia then went to the UK to attend the London School of Economics.