Jessica Krisher, Director of Affordable Housing CSD at Yardi, creates tiny blue “A-Team Flags” by hand. Traditionally, support team members that completed compliance and subsidy certifications received the flags. When they had a question, they would raise the flag to notify their managers. Over time, the flag became a broader symbol. It is a reminder that near or far, members of the team form a support system for one another and their clients. A New Tradition To show their solidarity, a few A-Team members carry along their flag during their travels. The team shares photo ops with the flag when they return to the office. “The A-Team Flags have become like Flat Stanley,” Krisher observes with a laugh, a bit bewildered. “It’s sweet that they take it out on their personal time. They’re thinking about us—though they shouldn’t be while they’re on PTO,” she adds. “But it’s nice that they’re taking the team with them on their adventures.” In pictures, A-Team flags fly on the tops of mountains, wave in the depths of the sea, and appear everywhere in between. Under the Sea Stephen Kearns, Affordable Housing Team Leader, Client Services Department was the first to carry the flag to the ocean floor. During a dive in summer 2016, he planted the A-Team flag in the sands of Palancar Reef near Cozumel, Mexico. When asked why he brought the A-Team flag along, he explains, “I wanted to make people back in the office jealous! Just kidding – well, partially.” After deeper reflection, Kearns adds, “It’s refreshing to see that your teammates don’t necessarily forget about everyone and everything the moment they walk out the door at the end of the day. To share the moments and travels with your colleagues back in the office...
Feeding SB County
Marketing Visits Foodbank
Members of the Yardi Marketing team gathered for a two-day conference in sunny Santa Barbara. As the conference drew to a close, the team celebrated with a volunteer service event at The Foodbank of Santa Barbara County (Foodbank SBC). Foodbank SBC is moving the community from hunger to health. The organization is “not only feeding but teaching how to fish.” Leslie Velez, Development Coordinator, explained, “Our motto means that the Foodbank helps clients move beyond a state of food insecurity through education and resources. With many of our programs, food distribution is offered alongside nutrition education, cooking instruction, exercise classes, and connection to support services like CalFresh and blood sugar testing. We want clients to have the tools they need to live healthy lives.” Foodbank SBC first works to ensure that clients have access to enough healthy food to feed a family. Of 10 million pounds of food distributed each year, half is fresh produce donated by groceries and local farms and gleaned from people’s homes. To continue the fishing metaphor, the organization has also created “the net,” a network of partners. Members include gardeners, many of who are Master Gardeners, who teach gardening classes year-round. Budgeting classes are led by a partner nonprofit to help people shop smart for food. The Foodbank also issues “fishing” tools, programs for growing food, preparing food, and using food in a way that improves food security. The Feed the Future initiative encompasses six educational programs geared towards youth and teens. Food Literacy in Preschool and Healthy School Pantry collaborate with local schools to promote access to fresh produce and provide an enhanced understanding of nutritional intake. Healthy School Pantry serves more than 8,000 clients. Kids Farmers Market gives kids an interactive experience with growing fruits and vegetables, selecting...
Pitching In
Yardi ATL Goes Back to School
Nearly three dozen Yardi Atlanta team members and their loved ones recently volunteered for the Mimosa Elementary School Courtyard Cleanup. Their efforts transformed a neglected square into a welcoming space for students and faculty. A growing body of research confirms the importance of green space in communities. They foster physical and mental health, bolster energy, and even reduce crime rates. The myriad of benefits associated with green spaces highlights the significance of the elementary school courtyard. Winding walkways, a spacious deck, and raised garden beds made the courtyard a beautiful place for learning. School counselor Flynn Pustilnik explained, “Teachers can facilitate their reading or writing time outdoors and incorporate science curriculum into that time. Some teachers have incorporated project-based learning with our outdoor space and made habitats for the turtles out there. As the counselor, I like to use the outdoor space to eat lunch with students.” In recent years, however, weeds filled the garden beds and shrubs peaked near the gutters. In Georgia, school budgets do not include funds for landscaping other than grass mowing. A gardening club invested personal funds and time to maintain the space for years but the club eventually dissolved. The courtyard became a less inviting place. The two turtles—one of which is more than 14 years old—were the only ones who liked to linger in the courtyard. It was time for an overhaul. Yardi Atlanta stepped up to help the local school. The courtyard cleanup is one of many outreach collaborations between Yardi and Mimosa Elementary School, including a recent school supply drive. The morning of the event, rain drizzled as the volunteers arrived to the parking lot, unloading the gardening tools and cleaning supplies that they brought from home. Other volunteers arrived with supplies from Home Depot, purchased with gift...
Growing with Matrix
MACC Venture Partners
With 4,200 units of owned multifamily housing, MACC Venture Partners is on a mission to more than double in size, according to managing partners Tony and John Azar. Based in Gastonia, N.C., MACC Venture Partners is a private equity owner operator of commercial real estate engaged in active pursuit of capital preservation and appreciation. With over 4,200 owned apartment units and over 5,000 under management, the family owned and operated firm is currently pursuing an aggressive growth strategy of Class B and C properties in the Southeast U.S. To identify the best deals to augment its portfolio, MACC Venture Partners chose Yardi Matrix as its source of dependable real estate data. Matrix offered the most complete information for the most reasonable price point, and covered all the markets required, John Azar said. Yardi Matrix is the real estate data provider of choice for MACC Venture Partners because of its comprehensive market analytics, including for secondary and tertiary real estate markets. Many of the properties that MACC Venture Partners considers for acquisition are often located outside of major cities, so coverage of these markets is important for the company. “The granularity of the data was important to us and not only from a primary market perspective. We don’t operate just in major metro areas, we operate in first, second and third tier areas. Yardi Matrix has the data we need,” said Azar. Matrix was instrumental during MACC Venture Partners’ recent acquisition in North Myrtle Beach, South Carolina, where the company purchased a 168-unit garden apartment community in partnership with Legacy Capital Partners. “(Matrix) was very relevant to this transaction because North Myrtle Beach area had less available data than Myrtle Beach. This was a situation where Yardi gave us good data not just about the...
Success Stories
CRC Does More with Yardi
Little makes us happier than hearing about a client’s success with one of our products. Unless that same client is experiencing success with three of our products! We recently had exactly that happen when we sat down to chat with Belinda Torres and Heather Palmer of Continental Realty Corporation (CRC) about their experience with RentCafe. It turned out that CRC wasn’t just getting positive results and feedback from using RentCafe, the company was also seeing measurable returns by extending its marketing platform with both RentCafe CRM and RentCafe Reach. Keep reading to see how CRC improved their online presence, lead tracking and organic traffic with a suite of integrated marketing solutions. Meet CRC CRC was founded in 1960. Headquartered in Baltimore, it’s a full-service multifamily and commercial real estate investment and management company. It uses Yardi software to manage a diversified portfolio featuring nearly 10,000 apartment homes and retail centers consisting of more than 3.5 million square feet of space. Better Websites Before adopting RentCafe, CRC had a corporate website that hadn’t been redesigned in a decade and didn’t have individual property websites. “There wasn’t any SEO value,” said Torres, corporate marketing director at CRC. “Keywords and alt tags weren’t being utilized. There was nothing to help a prospective resident find us.” CRC used RentCafe to create marketing websites for every multifamily property in its portfolio. CRC also uses COMMERCIALCafé to create websites for its commercial properties. “The websites that we have now are attractive. Photos and tours are what people want to see, and we’ve been able to give that to them with RentCafe,” said Torres. The sites are mobile-friendly and allow the marketing team to upload videos and custom content for each community. Applicants can apply online and receive and submit all...
Transition House
Safety + Shelter + Success
There is something special about nonprofit galas: the glitz, the big names, and the buzz of fellowship in the air. But how special would it feel if the gala didn’t exist at all? What if all of a nonprofit’s funds were directed to the people who need it most? Transition House explores the no-ball fundraiser concept with Help-a-Kid No-Ball. Transition House in Santa Barbara provides housing and services for families facing housing insecurity. Heather Stevenson, Grants Manager at Transition House, has seen hardworking families lose everything. “In Santa Barbara, the cost of living is so high that people without a safety net or family support can lose everything when an unexpected crisis occurs,” she said. “A job loss or a medical emergency might be all that stands between a family that is already poor and homelessness.” She recalls a family that arrived to transition house several years ago. The father, a roofer, was unable to earn pay during one rainy winter month. Though he had part of his rent payment for the next month, he lacked $430. The family lost their apartment as well as all of their possessions. Transition House was there to help. The non-profit offers emergency shelter, transitional and permanent housing, as well as homelessness prevention services to promote long term stability. Each family obtains the essentials such as three meals each day, clothing and reliable shelter. Case managers and a career development specialist work together with heads of household to improve money management skills, education, and employment preparation. Since the organization exclusively serves families with children, about 60 percent of its residents are under the age of 18. When children enter Transition House, they are able to participate in uplifting programs and interventions that may provide the care and stability...
Tech Transforms
At Canada's Greenwin
“Information technology is the core of your business and every business,” states Brian Turpin, vice president of information technology for Greenwin, one of Canada’s largest privately owned residential property management companies. Headquartered in Toronto, Greenwin has a combined staff of over 500 employees. The company professionally owns and/or manages more than 1,000,000 square feet of commercial space and 15,000 residential units throughout central Canada. Greenwin is currently using integrated software solutions for accounting, construction management, budgeting and forecasting, procurement, inventory control, and maintenance management — operating on a single platform. Turpin’s role over the past four and a half years has been to work with Yardi, Greenwin’s software vendor, to meet the company’s evolving needs as it seeks to do more digitally. Part of this rewarding relationship includes beta testing Yardi’s latest innovative products. Currently, Greenwin is testing VENDORCafé, the one-stop-shop for vendor management. Changing the Way People Work Turpin describes the way he looks at new technology as “digital transformation” and is always asking himself and his team, “what challenge does this product solve for us?” Usually, the answer to that question includes the ability to untether Greenwin’s staff with the option to use mobile devices and leave their laptops behind. Turpin further elaborated on this line of questioning, “How can we do what we’re doing every day better, and where can technology take us? Are we at risk for falling behind, and do we need to automate more manual tasks and digitize our paper-based resources to create greater efficiencies?” For help with answering these questions and more, Turpin reaches out to Yardi. “Why not be the first to ask for something that maybe no one else is asking for yet? Yardi will endeavor to make it happen — and that close collaboration...
Intuitive Integration...
Merrill Gardens + Yardi
With 30 senior living communities across six states, Merrill Gardens provides a lifestyle approach to senior housing that’s unique to each locale they inhabit. By designing each community with characteristics unique the area in which they reside, Merrill Gardens creates a comfortable and welcoming environment for residents so they can relax and feel at home. “We take great pride in the fact that we spend a lot of time making sure that our communities, especially the senior side have a place to live that is like a home,” says David Wiedeman, Business Systems Analyst for Merrill Gardens. “It’s a place you want to be. With activities integrated into the community, our residents aren’t living on an isolated island but are going to events and participating in clubs and other activities. This keeps everyone active and connected.” Making the switch to an integrated platform allows Merrill Gardens to avoid missed billing opportunities and increase revenue. Previious a CFO for a property management company, David was once a third party consultant for Yardi. When Merrill Gardens began implementing the Yardi platform, David and his team worked side-by-side with Yardi to ensure the switchover went smoothly. “If you have the vision of what you want, Yardi can build it,” says David. “Yardi has a good knack of hiring people who are really good in their fields, they are specialized but can also be creative and help us meet our needs across different channels, including the residential and senior sides of our portfolio.” As part of his role as Business Systems Analyst, David spearheads software infrastructure and administration for Merrill Gardens, overseeing all Yardi modules as well as software implementations throughout the company. A big supporter of the single stack solution, David feels Yardi provides an unmatchable combination...
Austin Cap 10K
Running for Parks
When it comes to celebrating the importance of parks, there is no better place to gather than a local park on a balmy spring day. Ideal weather helped to make Vic Mathias Shores Park the perfect backdrop for the 2017 Austin Cap 10K, a benefit race for local nonprofits. The Austin Cap 10K race winds 6.2 miles through the city and is accompanied by a two-day health and fitness expo. Participants are encouraged to come dressed as their favorite superhero or sport t-shirts from their favorite business or organization. Several Yardi Austin team members participated in the race including Dan Woodhead, Joshua Dwyer, Kelly Wolf, Ann Vejsa, Will Manns, Daniel Cook, Nicole Benavidez, Ashley Musso, and Robyn Chavez. Chavez, a five-time race participant, describes the morning of the event. “The weather was perfect! I was a little nervous but overall excited. There were more than 20,000 people who ran it this year and the crowd was amazing!” Participants are encouraged to walk, jog, or run the course. The race leads registrants through several popular landmarks in the city, which makes for terrific sightseeing at a slower pace. There are just enough hills to make the race a fun challenge for experienced runners. “I like to stay active as much as possible,” says Chavez. “Since I’ve done this race in the past, I like to continue with my yearly tradition and try to beat my time from the previous year.” Chaves beat last year’s time by two minutes. Post-race events take place at Vic Mathias Shores Main Lawn overlooking the Lady Bird Lake waterfront. Participants receive massages, free prizes and swag from vendors. Food trucks, live music, and interactive exhibits create a festive atmosphere for hours after the race has ended. What makes the Austin...
Apartment Idol
Magellan Welcomes Artists in Residence
For musicians Jay Filson of Nasvhille and Jeremy Gentry of Chicago, a year of free rent in a brand-new apartment building is a golden ticket while they work toward establishing fledgling music careers. And for Chicago-based Magellan Development Group, a Yardi client, hosting the two musicians as “Artists in Residence” at its new properties is an amenity so unique that it has garnered significant press attention. Filson and Gentry are the inaugural winners of a creative lease-up competition held by Magellan as it marketed The Sobro in Nashville, and Exhibit on Superior in Chicago. The goal was to find Artists in Residence who would perform at the communities and provide music lessons to residents in exchange for a year of free rent. The Contest Each Artist in Residence winner competed against dozens of other musicians who submitted videos about why they were the most deserving and talented applicants. A live final performance, a la American Idol, concluded the competition. “Our Magellan principals envision this musician/artist in residence as teaching, playing, connecting with our residents in a variety of ways. They believe that music brings people together,” said Sherri Cuda, Director of Leasing for Magellan. Both Filson and Gentry are newly out of college and each was struggling to figure out what next steps their pursuit of a music career would take when they heard about the “Sobro Star” and “Exhibit A-Lister” competitions. Gentry, who works at one of Chicago’s dueling piano bars in the evenings, was thinking of moving back in with his parents. Filson had been working in marketing but knew that music was really the passion he wanted to pursue. “This is the kind of opportunity that does not come up, ever,” Gentry said. “I’m hoping that before next year I can make some original music. That’s my goal, to release an EP or a short album of original music before my time is done here.” Filson has a similar plan. He was working at his alma mater, Indian Wesleyan University, when the opportunity to compete for free rent in “Music City USA” came his way. “I tried not to get my hopes up too high but it just seemed like such a perfect opportunity,” he said. “And then it worked out, so I packed up all my stuff and moved to Nashville.” Since arriving, he’s been working on establishing a broad base of contacts and exploring the local music scene. “People here really do care about music in a really exceptional way. So it’s fun to be able to play for people and residents here that really love music and are open to hearing new artists,” Filson said. Benefits all Residents As part of the terms of the contest, each Artist in Residence puts in 30 hours a month of musical contributions toward their community. “We get a great deal out of it, but the residents get in house entertainment on a regular basis,” said Filson, who often mixes his own original work with mash-ups from popular artists like Eminem. “I’ve been playing by the pool, playing any events we have, and playing events at other Magellan buildings,” said Gentry, who is trained as a pianist but also plays guitar and drums. To augment his preparation for work at the piano bar, Gentry asks his neighbors for their song requests when he plays at the pool. He also has a list of residents who are interested in lessons and plan to start teaching soon. Expanding Possibilities Cuda says that Magellan plans to continue to roll out the contest in other future lease-ups, with the option to expand the scope. The talent portion of the event garnered significant publicity and attention in both markets. Local public relations agencies helped market it via social media and local news outlets. “In future projects, we intend to tailor the program. We may include culinary, wellness, fitness, or other areas. We...
Sizzling Summer Luau
Yardi San Diego
Did you know that 48 percent of California’s seniors lack sufficient income to cover housing and meals? That means two out of every five seniors have to choose between paying rent and having enough money for food. Serving Seniors is a 501c3 nonprofit that minimizes the financial burden faced by thousands of San Diego seniors. Since 1970, Serving Seniors has offered vital services including food, health care, housing, social and educational opportunities. It is the only organization of its kind in the county, and one of few in the country, to provide for the fundamental needs of seniors. Food and housing top the organization’s list of priorities. Seniors ages 60 and older are eligible for congregate meals and physical, mental, and social health services. Seniors 62 and older are eligible for those services as well as permanent affordable housing at the organization’s communities in East Village and City Heights. There is also a transitional housing program for seniors facing housing insecurity. “Meals and affordable housing are the most-needed services we offer,” says Shannon Fogg, Communications and Special Events Manager at Serving Seniors. “San Diegans can always volunteer to help serve meals or lead classes. Any kind of class is typically interesting to our curious seniors.” Serving Seniors understands that clients have needs beyond the necessities. Learning and socialization opportunities give seniors a chance to make new friends, learn new skills and develop existing abilities. To maintain mental and physical agility, seniors participate in classes for low or no costs. Yoga, Tai Chi, interactive games, art, crafts, and health education classes are just of few opportunities for mature adult learners. The Civic Engagement league empowers low-income seniors to address challenges that impact their community. They participate in volunteer opportunities, brainstorm and execute solutions to community issues....
ATL March of Dimes
March for Babies
Atlanta summers are known for their sweltering heat and ruthless humidity. Those conditions were no match for Yardi Atlanta. The team of eight braved the heat to show their support for babies during the March of Dimes March for Babies. Supported by donations from fellow team members, their efforts helped to give hope and support to babies and their families. March of Dimes was born as the National Foundation for Infantile Paralysis, a response to President Franklin Roosevelt’s personal struggle with polio and his desire to see the disease eradicated. The organization fought and achieved its mission to end polio in the United States before turning its attention to broader services. The nonprofit now supports March of Dimes Prematurity Research Center in its fight for healthy babies. The center leads in groundbreaking research on the genetic causes of birth defects, screening methods, as well as pregnancy education for medical professionals and the general public. March of Dimes and the Prematurity Research Center have experienced major breakthroughs. The teams created and improved surfactant therapy to treat respiratory distress. The new Folic Acid Campaign successfully reduces incidences of neural tube defects and birth defects of the brain and spine. The organizations also founded a system of regional neonatal intensive care centers for premature and sick babies. To continue the good work, March of Dimes relies on March for Babies as its primary fundraiser. There are thousands of marches across the United States each year, each one uniting teams of family members, coworkers, and friends on a journey towards a future for healthy babies. Yardi Atlanta team members Heather Humrich, Monique Benson, Ken Romero, Kami Reid, Wendy Caffrey, Shana Winbush, Charity Williams, and Elizabeth Daniels participated in the march. They represented Yardi on the walk of the...
Back to School
Made Brighter by Yardi
Back-to-school season can be a stressful time. New schedules, new responsibilities, and seemingly endless errands can be overwhelming for families. For some, obtaining school supplies is a major stressor. Yardi Atlanta made back-to-school preparations a bit brighter for several local families. Yardi Atlanta adopted Mimosa Elementary School, a Title 1 school with about 800 students. The school lies within an Economic Opportunity Zone, an area where many families have lower incomes. Nearly 95 percent of students at the school qualify for free or reduced lunch rates, meaning that their parents’ income falls below the poverty line. The Atlanta team leads several projects to assist the school and its hardworking families. Heather Humrich, Administrative Assistant, G&A, works closely with school counselor Flynn Pustilnik. Together, they find ways to get essential resources to the kids who need them most. “I love being a school counselor,” says Pustilnik. “I enjoy helping students resolve problems that may arise and overcome barriers to learning so that they can achieve academic success.” In early August, the Atlanta team completed a School Supply Drive. Yardi employees purchased brand new school supplies and left their donations in decorative boxes throughout the office. Some employees bought paper, pencils, markers, backpacks, and similar supplies for the elementary school students. Their donations filled three large boxes. Other employees donated money for the purchase of school materials, totaling $147. Those funds contributed to four over-stuffed backpacks full of school necessities for students. Pustilnik estimates that Yardi’s donation will serve about 100 students. “The donated goods help our students start the year school prepared and ready for learning. They can focus more on academics knowing that their basic needs have been met and that they have the materials that they will need to be successful in the classroom,”...
CSD Gives Back
Fun in the Sun, United Way SB
What do you remember most about your summers as a child? Many of us enjoyed camps and retreats during our breaks from school. For others, those activities were not an option. United Way Santa Barbara (UWSB) is working to level the playing field for a new generation of local students by providing summer enrichment for ask-risk youth. Members of the local Yardi Voyager Client Success Residential SB 2 Team recently volunteered at the UWSB Fun in the Sun (FITS) Lunch Bunch event. Volunteers included Evan Hamilton, Brandon Paul, Luke Smith, Sonia Acuna, Ryan Daley, Baron Wei, Richard Ngoy, Dan Maliniak and Jomel Esleta, Team Leader, CSD. FITS is a six-week learning program geared towards children who are academically and financially at-risk. Esleta explains, “FITS is an important program for the community because these students’ parents spend much of their time working. The children are often unsupervised during the summer and are exposed to behavioral risks. FITS provides students and their families with unique and engaging experiences to reduce and reverse ‘summer learning loss’ and narrow the achievement gap between lower-income students and their middle or upper class peers.” Summer learning loss is a condition examined and analyzed through a 20-year study at Johns Hopkins University. When students lack access to enrichment activities over the summer, they lose academic skills gained during the previous year. They are also less prepared for the upcoming school year. The affects of summer learning loss accumulate year after year, pushing the students farther behind their peers who are able to continue learning during the summer. “By ninth grade, summer learning loss can be blamed for roughly two-thirds of the achievement gap separating income groups,” says TIME Magazine. To prevent summer learning loss, volunteers help students with hands-on assignments, arts and...
Smart Growth
Dominium Uses Yardi eLearning
New hire onboarding is a necessary process for all growing multifamily organizations. It is also a major pain point. Dominium, a Minneapolis-based leading apartment development and management company, set goals to double in size by 2025. To reach its goals, the company needs an innovative and efficient training solution. Maya Kasangaki, Senior Service Desk Technician and Yardi Trainer, explains how Yardi eLearning has prepared her organization for growth. Onboarding Dilemmas Dominium faced challenges that are familiar to other property management firms: high turnover and costly, inefficient training processes. The organization hosted monthly weeklong trainings for new community managers at the corporate office. In addition to regular conference calls, these nearly six-hour training sessions consumed the majority of Kasangaki’s time. Once complete, she lacked a consistent way to track students’ understanding and content retention. “If we have training with 12 people on the call, it’s hard to make sure that everyone is absorbing the information. They aren’t as comfortable bringing up questions or starting a discussion in the midst of a training,” she observes. High turnover exacerbated the already frustrating situation. “Because of the staff turnover in property management, we would train someone but they didn’t have basic knowledge of the industry. The information we provided was maybe going over their head. Then we would hire someone to replace them and we would have to begin this process all over again,” says Kasangaki. Dominium sought a training solution that would simplify and expedite new hire onboarding. Online Solutions for Onboarding and Growth In 2016, Dominium implemented Yardi eLearning. The company customized the curricula to include soft skills courses, videos, webinars, and more. Kasangaki appreciates the ability to deliver content in different formats, allowing learners to receive the information in a way that appeals to their...
Creative Funding
City Center Community
Desperate times call for creative solutions. The city of Allentown, Pennsylvania faced a multimillion-dollar deficit, high crimes rates, and a dwindling population. A unique approach to capital investment saved the city, producing what the mayor calls “Allentown 4.0.” William Billowitch, Controller, City Center Investment Corporation, sits down with Yardi to explore the organization’s singular approach to development. Built from Necessity The city of Allentown, the third largest city in Pennsylvania, descended into a rut during the recession. Its blighted neighborhoods became a hotbed for crime. While neighboring cities gradually pulled out of their recession lows, Allentown continued to descend. In the effort to save the town, local leaders and visionaries from the public and private sector worked together to draft a revitalization plan for the urban core. With that plan in mind, real estate development firm City Center Investment Corporation created City Center Lehigh Valley. The mixed-use complex is helping to transform downtown Allentown into one of America’s most vibrant urban communities. It is a regional center of excellence for business, culture and metropolitan living. “Our objective is to stimulate downtown, the economy. We use pretty much almost all Pennsylvania labor, all Pennsylvania products, to build,” says Billowitch. With Allentown’s new arena, PPL Center, at its core, City Center includes more than 1 million square feet. The campus includes three Class A office towers, the Renaissance Allentown Hotel, STRATA East and West residential buildings, The Shops at City Center, upscale restaurant space and a co-working space called Velocity. The seven-story office building, One City Center, was the first installment of a 10-year master planned project. In addition to office space, it is home to a sports performance and fitness center. One City Center is currently fully leased. “Since then, we’ve opened a building every...
Masako Wakamiya
Busting Up Stereotypes
81-year old Masako Wakamiya is proving to the world that age is really just a number. At a TEDx conference in Tokyo, a lively, energetic, self proclaimed “chatterbox” Masako professed angst at the thought of retiring at age 60–the requirement in Japan. It’s why after 43 years working at a bank, she decided to teach herself how to use a computer. In those days computers were not the intuitive, user friendly machines we have today. Masako recalled the three months it took her to set up and learn how to operate her computer. “My face was covered in sweat and tears,” she described. That same determination is what lead Masako to create her own app. But not just any app. Masako decided to create one specifically for elderlies after noticing a shortage of fun apps aimed at people her age. “We easily lose games when playing against young people, since our finger movements can’t match their speed,” explains Masako. Her app, Hinadan, is an iOS game based on the traditional Japanese festival Hinamatsuri, or Doll’s Day. During the festival, ornamental dolls representing the emperor and his followers are dressed in traditional garb and displayed in a specific arrangement. The game aims to teach players the correct positions by having 12 dolls that players must situate properly on a display with four tiers. Once the challenge has been successfully completed, a congratulatory message pops up. “I [would] encourage [old people] to start having fun experiences using computers,” she explained. When she is not teaching computer classes or blogging, Masako leads the Mellow Club, a community she founded for retirees that aims to encourage active aging. As if all this was not impressive enough, she also runs the Mellow Denshoukan, a digital archive of personal experiences...
Western Focused
LocalConstruct Grows + Thrives
Casey Lynch and Mike Brown were graduate school classmates at UCLA when they started their real estate investment and development company, LocalConstruct, with limited funds and bona fide sweat equity. “We bought a $55,000 condominium in Fontana, Calif. that we painted and renovated ourselves. We were at Home Depot, buying our own supplies,” recalled Lynch. Flash forward nearly a decade, and LocalConstruct has become a thriving small firm with multifamily and mixed-use projects in California, Colorado, Idaho and Montana. The Los Angeles-based company, a Yardi client, has developed 2,000 apartment units to date. Lynch and Brown have a specific vision for urban infill development. Seeking out markets with plentiful jobs but limited work-proximate housing, they have hit a sweet spot where limited supply meets unprecedented demand. We talked with Lynch about LocalConstruct’s market choices and formula for success. You started your company in 2008, when real estate was in a desperate place. Why? Lynch: We saw a great opportunity to start an entrepreneurial enterprise, given the volatility in the market at the time. We raised a small fund to go out and buy single family homes and convert them into real properties in Los Angeles. You always hear developers who have been in the business 30 to 40 years talk about their first deal and working their way up the ladder. For us and our story, that would be true. Things have changed tremendously since then. What happened to LocalConstruct in the last nine years? Lynch: We went from one unit projects to 2 to 4 to 8 to 20 to 100 to 300. We have a presence in four states in the West and we are focused on infill housing strategies, primarily rental housing, and we are focused on emerging markets...
Tradition Meets Tech
Senior Living Software
With 8 communities in Illinois, Ohio and Michigan and 3 more in development, Randall Residence prides itself on a history of providing quality care dating back to 1975. Though the company has been around longer than the personal computer, they aren’t stuck in the past. In fact, by embracing the data management capabilities of Yardi to improve staff efficiency and more effectively manage operations throughout their portfolio, Randall Residence is using the best of modern technology to continue their track record of excellence. For Noel Salgado, a key element of the company’s success lies in its ability to harness the power of information. As CFO for Randall Residence, Salgado watched as the company transitioned from a small, regional company to a senior living provider with properties spanning three states. As the company evolved, its needs also changed, including demand for a comprehensive and integrated software system capable of incorporating accounting and care management. “As CFO I want to make sure I can see all the effects that are occurring in real time instead of having to wait a month before knowing whether anything needs to be adjusted,” says Salgado. From Basic to Comprehensive When Salgado first arrived at Randall Residence, the company was in the early stages of Voyager 6 integration. Although Salgado was aware of the software’s capabilities, he admits that at first Randall Residence was “using it in a very minimal way.” “We weren’t utilizing all the Yardi Voyager capabilities at first,” he says. “For the longest time, we used only a minimal portion of the software, before realizing the value of what we could do.” For Salgado, the realization hit when the company transitioned to Voyager 7S and began to add modules and expand utilization. “Moving from Voyager 6 to Voyager...
A Winning Team
Opportunity Knocks at Yardi
Jeff Bischoff and Michael Grimaud were classmates and friends at Cal Poly San Luis Obispo. But that’s not all they have in common. After graduation, both built rewarding careers on the Yardi sales team. Sales at Yardi, an industry-leading real estate technology company with offices around the world, offers many exciting opportunities for professionals of wide-ranging skill and experience. Bischoff and Grimaud entered the company out of college and quickly ascended. Other positions are suitable for experienced sales executives and customer care professionals. Both Bischoff and Grimaud began their careers in Yardi’s client services division and then moved to sales. You can learn more about available Yardi sales roles on yardi.com/careers. We recently caught up with Bischoff and Grimaud to learn more about their experience. Both have been with Yardi for about five years. Bischoff currently works as Regional Manager for Public and Affordable Housing sales, while Grimaud is a Senior Account Executive focusing on the multifamily sector. Both employees say that Yardi’s prestigious position in the real estate industry, as well as the chance to truly make an impact for the clients they work with, are among the most rewarding parts of the job. “I truly enjoy visiting clients face to face on a regular basis. To build strong relationships, it is important the client trusts you and there is no better way to do so than by sitting down and interacting, whether it be through a meeting, a presentation, or a meal. I also enjoy providing clients with a real solution to solve their business issues. When you show a new product to a client for the first time and you can see their eyes light up – that is a great moment,” said Grimaud, who works out of the Yardi Santa...