L&B Realty Advisors

Reaching Greater Heights

By Erica Rascón on May 20, 2013 in People

L&B Realty Advisors has been named one of Dallas Morning News’ Top 100 Places to Work for the second consecutive year. The company received accolades for its stellar work environment and nurturing relationship with clients.

The success of Yardi client L&B starts from within. The company’s culture statement reads, “There is a FORCE that drives L&B. It is the connection of our people, their careers and our clients.” That FORCE—flexible, ownership, relevance, connected, empowered—unites teammates to create an atmosphere that is professional, innovative, effective and fun; the FORCE reference naturally led employees to select Yoda as their mascot. Those who uphold the FORCE host a miniature version of the Star Wars sage on their desk for a few weeks. It’s a simple way to keep the FORCE alive among employees each day.

Employees’ balanced approach to business and interpersonal skills has served them well thus far. Since 1965, L&B Realty Advisors has provided real estate and asset management services to institutional and private investors. Services assist clients with the acquisition, management, and disposition of assets as well as pension plans, public and private wealth funds, endowments, and foundations for investors. L&B prides itself on longstanding client relationships, many of which average 17 years with returns that exceed benchmark forecasts. Currently, the company manages more than $5.4 billion on behalf of its clients.

One successful project, a series of new developments at Tyson Corner Center in Washington, D.C., is an L&B real estate holding with a promising future. The project consists of mixed-use facilities that furnish the neighborhood with over three million square feet of combined hotel, retail and residential space. The site has been propelled into the spotlight by the adjacent mall, which holds anchor tenants such as Nordstrom, Lord & Taylor, Macy’s, L.L. Bean and AMC Theaters. Tyson Towers, the office building planned for the site, will connect to the mall via an elevated outdoor plaza which will also be used to host public events.  In addition to pedestrian walkways and bike paths, Tyson Corner Center will have the unique privilege of its own Metrorail Station. L&B represents Alaska Permanent Funds Ownership Interest in the existing mall and the development endeavor as a whole. The project is slated for completion in 2014.

With such significant projects in the pipeline, L&B Realty Advisors’ team has embarked upon a technological journey that will help the company reach new heights in coming years. Currently operating under CTI, L&B initiated the transition to Yardi Voyager this year. Jennifer A. Hanson, Director of Investment Accounting, has high hopes for the switch: “We are seeking new ways to simplify daily operations and serve clients more efficiently. I think Voyager is a more robust system than CTI. We’re looking forward to the extra features, growing what we do now into more services for us and our clients. We’d like to take advantage of asset management analysis features, client reporting, and are really looking forward to the performance return tracking modules, dashboard modules, and integrating better with property managers and clients,” says Hanson.

The decision to upgrade to Voyager came after several dedicated L&B staff members attended the Yardi Advanced Solutions Conference (YASC) in spring 2012. YASC, which begins Tuesday for Spring 2013, serves as a learning platform for existing and potential Yardi clients. Software experts are on hand to answer clients’ questions, address their concerns, and facilitate dialogue amongst users regarding best practices, shortcuts, and tips.

Hanson, who was among the first YASC participants from L&B, recalls the experience. “Last year, we weren’t committed to going to Yardi. We attended the conference to understand what Yardi was about and our options. We were impressed by the user base at the conference and the quality of the clients,” she says.

Hanson and her peers witnessed other clients who shared the CTI experience; they learned more about the program but also noticed that many CTI users were phasing in Voyager. “There was a session for recent converts from CTI to Voyager and we were able to see a lot of the advantages first hand during the Tips and Tricks session,” Hanson says. Those sessions proved vital to the company’s ultimate decision to transition to Voyager. Hanson continues, “We gained a lot of information for our own transition. Now that we’re committed to Yardi, we’re attending the conference again to learn more about our new product and what is has to offer. We are interested in the advanced services and features available on the Voyager suite, and would like to identify ways to improve reporting and add efficiencies to our processes.”

Voyager will provide fully integrated solutions for many of the 70 properties managed by L&B Realty Advisors. The properties will have access to Voyager’s web based operating platform which streamlines management data into a single, real- time database. Through Voyager, L&B team members can stay connected, upholding the FORCE as they reach greater heights of professional and interpersonal excellence.