Longtime Yardi client Gary Shaw, president of Arizona-based commercial property manager Arcadia Management Group Inc., is a fan of doing business with a single connected solution. “Going with the single stack approach was a no-brainer,” he says, referring to Arcadia Management’s use of Yardi Voyager, Yardi Procure to Pay, Yardi Inspection and other products from the Yardi Commercial Suite. “It’s so much more efficient housing several business operations in one place rather than updating software in separate databases for finance, maintenance and other operations.” Although highly successful as a third-party management company, “we are constantly looking for ways to improve our business processes,” Shaw says, which is why Arcadia Management Group frequently volunteers as a beta tester for new Yardi products. Too Many Databases An unresolved dilemma recently gave Arcadia Management a chance to go first again. The company kept some documents, such as invoices processed through Yardi Procure to Pay in the Yardi cloud. Other content, such as vendor management activities uploaded from VENDORCafé and various lease and property documents, were kept in Microsoft SharePoint. “Maintaining security on multiple systems was hard on our users. I didn’t want to continue running multiple databases. That produces duplicate effort as well as inconsistent security permissions,” Shaw says. “I wanted our document management functionality to become completely integrated with our business the way our other Yardi products were. “When Yardi approached me with a new solution that linked Voyager with SharePoint, it patched a huge hole in our document management system.” Centralized Content Management That solution is Yardi Document Management for SharePoint, which integrates Yardi Voyager business data with the Microsoft SharePoint platform to create a single, centralized content management solution. Arcadia Management Group became the first beta user in May 2017. “Going between Voyager and...

A case study reveals the rewarding results of a Yardi-led search engine optimization (SEO) and search engine marketing (SEM) campaign for Westdale, a national real estate investment and property management company. Using RentCafe Reach, Yardi tested, analyzed and optimized mobile ad campaigns for Westdale to produce fast results. These included a 160% increase in leads, 81% of which came from mobile devices like tablets and phones! About Westdale Westdale is headquartered in Dallas with six regional offices through the country. It focuses on acquiring, managing and developing investment opportunities and oversees approximately 200 properties in more than 30 cities. Westdale’s goal during the campaign was to work with Yardi to differentiate its communities from the competition and reach more potential renters. Process The case study focused on a RentCafe Reach campaign targeting rental leads. For Westdale’s campaign in a competitive Class A apartment rental market, Yardi researched, planned and executed SEO and SEM strategies to improve lead generation from organic and paid search results. Yardi is a certified Google AdWords partner, and RentCafe Reach campaign management is executed by Google AdWords Certified Specialists. This campaign used expanded text ads and other Google AdWords products. Conversion tracking throughout the campaign was used to support data driven marketing decisions. Results & Metrics The combination of SEO and SEM tactics created a large footprint in search results for Westdale, driving more qualified lead candidates. As a result, Westdale saw a significant improvement in the quality of both online and offline conversions at a lower cost. 160% increase in leads 66% increase in conversion rate 56% reduction in cost per lead Westdale’s Takeaways “When properties experience issues with low occupancy, combining SEO and AdWords brings immediate results,” said Jaymz Yates, director of technology at Westdale. “Yardi has fined...

The modern workplace must accommodate different learning types and different generations of learners. Heidi Fuller, Training Consultant at Bigos Management, explains how she uses Yardi® eLearning to educate employees of all ages and learning styles. Cross-Generational Technology Millennials compose more than half of the current workforce. To these young adults, technology isn’t a luxury; they expect technology to play an integral role in job training. According to a recent article in Forbes, Millennials see technology as a necessary tool to work efficiently and intelligently. Fuller builds training courses with tech-savvy new hires in mind. “Millennials have a greater need for technology and learning. I create a lot of webinars, videos and ways that they can use mobile technology. In terms of industry training, that is where we’re going.” While preparing for the future is important, Bigos also strives to support its current staff. Bigos employs learners with less exposure to virtual and mobile technologies, many from Generation X and the Boomer populations. Learners who are accustomed to traditional, instructor-led courses face a learning curve when it comes to virtual learning formats. “Integrating technology is easy with the younger new hires,” observes Fuller. “They don’t know any different. The challenge is with the people who aren’t quite ready, getting everyone on the same page and getting them used to using new technologies.” Bigos turned to Yardi eLearning to develop a cross-generational learning management system. “We use more of a blended approach,” Fuller explains. “eLearning courses are paired up with instructor-led courses as well as on the job training with their managers.” Multi-format training is necessary to reach a cross-generational staff base. But more importantly, blended training is necessary to reach different styles of learners, as described by the Kolb LSI. One study reveals that a...

The power of online learning for real estate companies is highlighted in a new video featuring Yardi client Roscoe Properties. A multifamily firm in Austin, Texas, Roscoe has drastically reduced staff training time using Yardi’s customizable online learning platform. Mariana Estrada, Vice President of Operations at Roscoe Properties, shares in the video how the multifamily organization has been able to grow with help from Yardi eLearning. Critical trainings at Roscoe Properties would previously take up to four weeks. After implementing Yardi eLearning, staff was able to reduce critical training duration to three days. “eLearning has allowed us to take our training to the next level,” says Estrada. “It has provided us with a scalable training strategy that will take us to the next 10,000 units.” Yardi eLearning facilitates customizable online training that appeals to different learning styles. Students can access courses anywhere there is an Internet connection and review content as needed. Assessment tools empower course moderators to identify students who may need additional support. The results are flexible, effective trainings that save time and resources. “Just in travel alone, we’ve been able to save tens of thousands of dollars,” Estrada says. Roscoe Properties learns on Yardi....

In the United States, the dire need for affordable housing continues. The nation currently faces a deficit of 7.4 million affordable units for those earning less than 30 percent of the local median income. In an effort to develop inexpensive housing in desirable areas, numerous project developers have opted to repurpose existing buildings. Bloomberg reports the account of one such property that is 112 years in the making. Sears Reborn On the West Side of Chicago sprawls more than 1 million square feet of American history. Constructed in 1905, the site served as the original Sears headquarters. It includes a 14-story clock tower, a printing plant, and several additional buildings. Sears occupied the site for 70 years before relocating to its most iconic Chicago home. The site began a slow and unsteady decline, accentuated with failed projects and abandoned spaces. In 2014, Yardi client Mercy Housing Lakefront embarked on a new project at the site, Lofts at Arthington. It would be an affordable housing community that consists of 181 units and on-location social services. Residents would have access to childcare, public transit, and job opportunities in nearby Chicago proper. “We were in a position to come and build affordable housing in a neighborhood with more amenities than more upscale neighborhoods could only dream of,” says Mark Angelini, President of Mercy Housing Lakefront. The redevelopment cost about $55 million. Lofts at Arthington qualified for federal historic preservation tax credits through the National Park Service. It also received low-income housing tax credits from the U.S. Department of Housing and Urban Development. One-third of the units are allotted for residents who earn less than 30 percent of the local median income. The remaining two-thirds have an income cap that is 60 percent of the local median income....

Whether you are a director, care provider or sales and marketing professional, you won’t want to miss the Yardi Senior Living Forum. With an eye towards expanding training and networking opportunities for Yardi clients, Yardi launched the Yardi Senior Living Forum in 2016. After the resounding success of the inaugural event, a second Yardi Senior Living Forum has been scheduled March 29-30 in Santa Barbara, Ca. The smaller event offers a more focused presentation of Yardi products designed to meet the specialized needs of clients working in the senior living industry. Participants will get the opportunity to gain deeper insight into the Yardi Senior Living Suite, including Voyager Senior Housing, Yardi EHR, Senior CRM and RentCafe Senior Living. “Support is a focus for us,” Ray Elliott, Vice President of Senior Living, explained when the 2016 Senior Living Forum debuted. “That includes how we help the client to implement the product, and ongoing support afterward “We recognize that the senior living industry has unique training staffing needs.” A YASC Alternative Set against the backdrop of sunny Santa Barbara, the “American Riviera,” the primary goal of the Yardi Senior Living Forum is to create a one-of-kind educational and networking experience. While YASC will continue to be a valuable resource for Senior Living clients to attend classes on general functionality and ancillary modules, the conference now includes only a limited amount of Senior Living specific content. For expanded, detailed coverage of the products in the Senior Living Suite, the Forum is the best option. The forum will provide in-depth instruction by Yardi Senior Living technical staff, along with product roundtables and product roadmap sessions. The Forum will benefit operational staff, including executive directors and administrators, clinical directors and healthcare professionals, sales and marketing staff, and business managers. A full conference registration includes...

This October, Bozzuto enlisted its staff and residents to #PaintOurTownPink – and came up big in the battle against breast cancer. The Maryland-based developer and apartment manager is well known in the real estate industry for its stellar social media marketing, and the company used its reach online to produce a very successful campaign. The philanthropic effort is a great example of how property management firms can bring together residents as they rally to support a cause. When all donations were tallied, more than $21,000 was raised for the cause. The #PaintOurTownPink effort had multiple access points, documented on the website http://bozzutopink.com/ Social Media: The hashtag #PaintOurTownPink was promoted and used on Twitter, Instagram and Facebook to document the many different ways that Bozzuto communities, residents and employees were participating in the campaign. On Wednesdays We Wear Pink: Both residents and employees were encouraged to “pink out” on each Wednesday in October to show support for breast cancer awareness and fundraising. Pennies for Pink: Bozzuto offices and community front desks collected spare change to be donated to Susan J. Komen Passionately Pink. Donation Portal: A link on the website led directly to the Bozzuto fundraising page for the Susan J. Komen Passionately Pink campaign. The Instagram photos posted demonstrate the breadth of participation and particular creativity that Bozzuto communities brought to the fundraising effort. With a month to put on creative events, encourage residents to drop off spare change and get the word out to the general public,  wide variety of images were posted. See them here. Yardi salutes longtime client Bozzuto for their efforts on behalf of this very worthy cause....

Yardi client Bentall Kennedy recently released a report that may change the way that the industry sees sustainable building. Giselle Gagnon, Senior Vice President, Strategic Resources Group explains, “Our team at Bentall Kennedy has long been committed to implementing sustainability practices across our managed property portfolio – for us it demonstrates to our clients and tenants that we are investing soundly and sustainably,” she says. “So we commissioned a study to seek research-based evidence to test our hypothesis that green office building certifications deliver higher value.” Sustainability within the commercial sector is a vital component of environmental health and corporate efficiency. Commercial properties are responsible for 81 percent of electricity consumption across North American and Europe. The industry also accounts for 40 percent of all energy consumed in those continents. Until now, stakeholders did not have the resources needed to determine which green building certification would be the most effective, yielding the highest returns and making the smallest impact on the environment. Previous studies fell short in a number of ways: All were based on publicly available information, such as posted asking rents, green building certifications and the sale price of assets. The majority excluded data on concessions and their effect on net rents. Many studies overlooked intangible benefits entirely. None examined actual in-depth, diverse metrics across a large office portfolio for as long as 10 years. As a recognized leader in Responsible Property Investing, Bentall Kennedy filled those voids. The company commissioned a comprehensive, long-term study on the benefits of sustainable certifications for commercial properties. In late 2015, The Journal of Portfolio Management published a report of the study entitled, “Green Certification and Building Performance: Implications for Tangibles and Intangibles.” “The study is unique in that, in addition to financial metrics, it looks...

Thanks to detailed accounting options and superior customer support, Sentio Healthcare Properties continues to expand its use of Yardi Voyager across its property portfolio. As a REIT specializing in senior living, Sentio Healthcare Properties oversees a diverse portfolio ranging from medical office buildings to senior housing, including independent living, assisted living and memory care facilities. At the company’s Orlando headquarters, about 20 employees work with third party operators at 34 properties located in 16 states. “REITS are not the easiest structure to understand,” admits Julia Avallone, Manager of Property Level Accounting and Asset Management (CPA) at Sentio Healthcare Properties. “I’ve been at Sentio nearly three years, and I’m still wrapping my brain around all the accounting complexities. That being said, I think it’s rare to find an accounting role where you feel that you are making a positive contribution to somebody’s  life. I feel that my role at Sentio is mission driven and contributes, albeit in a small way, to the quality of life the residents in our facilities enjoy.” Making the Switch to Senior Living Avallone began her career in public accounting mainly for real estate clients. Eventually, Avallone decided to transition into another industry, and one of her managers recommended Sentio. “My husband was also in public accounting, and it was too much to both work in the (same) industry,” explains Avallone. “I was looking for a change, and one of my managers knew the controller at Sentio. It was a good fit.” Avallone used to handle accounting for approximately half of Sentio’s portfolio, but is in the process of transitioning to an asset management role. Because Sentio’s properties are located in a variety of different markets, each community comes with its own advantages and challenges. For example, Texas recently moved to...

With thirty years of experience in nursing and senior care, Rhonda Knisley understands the power of ditching paper records for digital data. For the last three decades, Rhonda Knisley has watched healthcare change from paper archives and prescription pads to digital data and mobile record keeping. All along, she’s focused on providing senior living residents with personalized care while being at the forefront of some the industry’s newest technologies and services. Rough and Rewarding “When I started my job 30 years ago, I walked into the building and down the longest hall. There were 35 residents all lined up on one side of the hallway in their wheelchairs. I looked at them and thought to myself, ‘This may be the worst job I’ll ever have,’” she admits. “But then I absolutely loved it! I walked in as a floor nurse and within six months, I was the director of nursing. Within a year, I was the executive director of nursing. In the end, I became a consultant. Overall, it’s been very rewarding.” As Director of Nursing for First Community Village, Rhonda Knisley has done everything from coordinating software implementations to running multi-facility nursing operations. “I loved working in the continuing care arena,” she says. “I’d see people come into the healthcare center and then transition back into the community, and I can see how they are able to stay connected with their friends and family.” A Multifaceted Population Headquartered Ohio, National Church Residences is the nation’s largest not-for-profit provider of affordable senior housing and services with 340 communities in 28 states and Puerto Rico. At First Community Village, a National Church Residence property located in Arlington, OH, the community residents encompass a varied demographic. “We have a very affluent population, and because it’s Upper Arlington,...

Shrewd apartment owners understand that the greater financial value in an apartment transaction can be had during the acquisition—not the exit. Industry veteran Ian Mattingly, President of LumaCorp in Dallas, speaks from experience. He is part of a management team that carries more than 90 years of investor experience when it comes to applying due diligence. LumaCorp owns 24 communities that include over 6,000 total units. It has made 45 acquisitions in the past 32 years. Mattingly is one of three panelists who will speak about how to avoid “nasty surprises” during the process at a session at MAXIMIZE: 2016 Multifamily Asset Management Conference at Loews Coronado in the San Diego area Oct. 17-19. “When we begin our talks with new investors, we like to tell them that we have a lot of experience in making mistakes,” Mattingly says. “We tell them not to expect everything that happens when buying and selling apartments to work out perfectly. We have made our fair amount of mistakes. But what we also tell them is that we won’t make the same mistake twice.” Mattingly, whose firm focuses on Class B and C properties in Texas, will share knowledge about the process that is applicable to any apartment market. Among his focus will be re-inspections, city and county governments, building codes, fire codes, lease addenda, repairs and resident audits. “We specialize in markets where the bulk of the apartment product was built in the 1980s.” Mattingly says. “So we’ve been buying ‘80s-vintage properties for over 20 years. Of course, those properties are a lot older now than they were 20 years ago.” Inspections. Mattingly says it’s easy to overlook issue with city codes and inspections during due diligence. “You’ll find that as some of these buildings get older,...

Once you submit your maintenance request via RentCafe client portal, you may have to wait a few hours before a technician completes service—unless Jorge Blanco is your maintenance tech. He’ll probably be finished before you can answer the front door. Jorge Blanco, service manager with Yardi client Kettler, is the reigning National Champion of the National Apartment Association’s (NAA) 2016 Maintenance Mania. He won with a record-breaking 1:11.618 completion time of eight tasks. Yes. Eight. Blanco competed in an elimination-style qualifying series against 4,000 maintenance professionals from across the nation.  In the end, 20 finalists remained. The group competed at Maintenance Mania during the NAA Education Conference and Exposition in San Francisco. Contestants raced to complete the following tasks: A.O. Smith water heater installation CFG faucet repair Fluidmaster toilet repair Frigidaire icemaker installation Kidde fire and carbon monoxide safety installation Kwikset key control deadbolt teas Seasons ceiling fan installation Racecar derby The last task is not something that most maintenance specialists face on the job. It requires the DIY construction of a model car that must integrate three maintenance products. The car must make its way around a track and to the finish line before its creator can reign as champion. Blanco is no stranger to Maintenance Mania. He has won the championship four times since the competition started 10 years ago.  He believes that he has held the title for so long because Kettler provides a supportive environment for employee training. “Kettler has provided us with a facility that we rent, me and the other technicians, giving us a place where we can actually practice for the event,” says Blanco. “That’s where we practice the ice maker, the Fluidmaster, the smoke detector, and things like that. I think that by them providing that...

Ethisphere Institute named Yardi client Jones Lang LaSalle Incorporated (JLL) one of the 2016 World’s Most Ethical Companies for the ninth consecutive year. The Ethisphere Institute sets international benchmarks for ethical business practices. To determine the ethical integrity of businesses throughout the world, Ethisphere assesses prospects based upon the Ethics Quotient™ (EQ) framework. Ethisphere developed EQ after compiling and analyzing several years of data. This data was then interpreted and refined by expert advice from Ethisphere’s Methodology Advisory Panel. The EQ evaluates definitive criteria of core competencies for corporate governance, risk, sustainability, compliance and ethics. Scores are generated in five key categories: ethics and compliance program (35%) corporate citizenship and responsibility (20%) culture of ethics (20%) governance (15%) leadership, innovation and reputation (10%) JLL returns to the list as one of Ethispheres World’s Most Ethical Companies for the ninth year. Colin Dyer, President and Chief Executive Officer at JLL, says, “We are very proud of being part of a small and elite group of global companies that have remained on Ethisphere’s list for so many years.” He continues, “Integrity has been a fundamental value and essential part of our culture throughout our long history, and it continues to serve the best interests of our clients, shareholders, employees and other stakeholders.” While JLL corporate establishes the framework of ethics within the organization, the employees uphold the statutes on a daily basis. Each year during performance reviews, employees are required to sign the Annual Certification of Commitment to Our Code. Employees re-certify their commitment to JLL ethics and corporate policies as part of the Individual Performance Management Program (IPMP). Mark J. Ohringer, General Counsel and Chief Ethics Officer, states, “With particular thanks to our global team of Ethics Officers and Liaisons for maintaining the strength of...

Senior communities are breaking through the stereotypes that once defined them. In place of one-size-fits-all complexes, the industry trends towards niche markets. Bygone are the days of scheduled meals and weekly bingo—well, bingo isn’t going anywhere–but freestyle dining is the new standard. Instead of quiet evenings around the television, modern senior housing hones in on fresh opportunities that enrich residents’ lives. These activities empower seniors, allowing them to experience the health-boosting benefits of personal fulfillment and a sense of purpose. One method of empowerment comes through lifelong learning programs. These programs take the form of non-credit academic courses, volunteer work, or educational travel. Each promotes mental, physical, and social well-being for residents. In her book Learning Later, Living Greater: The Secret for Making the Most of Your After-50 Years, expert Nancy Merz Nordstrom details the benefits of lifelong learning programs. Among the benefits, education furnishes seniors with a sense of self-fulfillment and purpose—both of which contribute to improved mood and outlook for seniors. “We’re out and about,” says Nordstrom. “We’re taking part in educational programs, traveling all over the world, and offering our expertise to society through meaningful community involvement. We’re not a strain on society; we’re an incredible asset.” Education also helps seniors develop new skills that will accompany them as they face personal and social change. “Lifelong learning enables us to keep up with society’s changes – especially the technological ones. A learning environment with our peers not only makes it possible to stay abreast of change, it also makes it fun.” The Lifelong Living program at Lasell Village emphasizes the benefits of mental stimulation for residents’ wellbeing. Residents must participate in 450 hours of learning or fitness activities each calendar year. They can determine the atmosphere in which they feel the...

If you work in the real estate business, chances are that at some point, someone has tried to tell you that your job is “all kinds of boring.” But most times, they sure are wrong. Not long ago we read a blog post published by one of our clients, Phoenix-based Gary Shaw of Arcadia Management Group. It was the kind of story that reminded us just how not boring the real estate business can be. Gary relayed the tale of what happened when a commercial tenant of his company became delinquent on the rent for their retail space. As a result of the missing rent, Arcadia Management Group essentially “locked out” the tenant, which typically results in a fast remittance of the funds owed. This wasn’t just any retail store, though. It was a high-end tropical salt water fish store, and taking care of the inventory was no small task We’ll let Gary tell you what happened next in his own words: “We were certain the tenant would be able to come up with the capital to cure the default and take back his store. “The real world, unfortunately, doesn’t always follow the ideal scenario. The store owner was truly at an impasse and did not have the capital to cure the default. He made it clear that he was walking away from the fishy business for good. “We pleaded with the owner to continue running the aquarium equipment while we made plans to liquidate – ‘If nothing else, do it for the fish!’ Our pleas went unanswered, and our calls were never returned. Nemo, Dory and all of their friends’ lives were now in our hands. Overnight, we went from property managers to fish store operators and underwater ecosystem caretakers.” Thankfully, this story...

Thornton Oliver Keller is preparing for anticipated portfolio growth by eliminating manual processes, streamlining budgeting, and improving client services and reporting. To accomplish these objectives, Idaho’s largest commercial real estate firm recently selected Yardi Voyager® 7S, a mobile-enabled Software as a Service platform for commercial property management and accounting, and products from the Yardi Commercial Suite™. “Replacing our legacy platform with the integration and automation available in Voyager will help us do a better job of managing the complex financial information of our portfolio of properties. For example, we’ll be able to report to clients easily and quickly, which is important in a business that relies on accurate real-time data,” said Josh Paul, director of information technology for Thornton Oliver Keller. Thornton Oliver Keller will shorten the cycle time of a key business operation—budget preparation—with Yardi Advanced Budgeting & Forecasting™, an automated solution that delivers accurate budget projections for revenue and expenses using tenant lease data drawn from Yardi Voyager. “We create about 160 budgets for our properties at year-end, which is a huge data-collection job. Advanced Budgeting & Forecasting will remove the manual steps and make the budgeting process significantly shorter and less labor-intensive,” Paul said. Referring to other Yardi Commercial Suite products, Paul said, “We’re excited to give our tenants an ACH payment option through Yardi Payment Processing™ and automate bank deposits with Yardi CHECKscan™ as well. One major benefit will be consolidating the entire portfolio to one type of scanner instead of using various ones that are often incompatible.” Yardi Procure to Pay™, an end-to-end, paperless invoice processing and procurement system, will similarly reduce manual processes for Thornton Oliver Keller by consolidating spend using online catalogs and eliminating paper handling with online invoice approval workflows. “Yardi is pleased to help Thornton...

Yardi client The Resmark Companies has teamed with Streetscape Partners LLC and Community Three Development LLC to develop 10Eleven, a 71-unit condominium and 4,257 square feet of ground-level retail space, in the historic Logan Circle area of Washington, D.C. “The project, dubbed 10Eleven, will appeal to professionals seeking a high quality, newly built urban residence that offers a walkable lifestyle with excellent access to public transportation, employment, amenities and services,” Alexandra Johns, Resmark’s senior vice president investments, told MHN. “In addition, the project will include retail and restaurant space on the ground floor to offer homeowners and neighbors even more options for everyday convenience and onsite leisure.” Located at 1011 M St., 10Eleven will appear to be two distinct buildings, inspired by the rowhouses and classic apartment buildings in the neighborhood, and suggesting the attention to detail carried throughout. The 71 condominiums will include one- and two-bedroom floor plans and luxury penthouse units. The roof deck, reception lobby and corridors will feature a sophisticated level of finish with design by Darryl Carter, a noted D.C. tastemaker, author and boutique home design retailer. Chief among the amenities is a roof deck with grill, fireplace, trellis and furnishings that will offer views of the skyline and space for outdoor relaxation and entertainment. The property’s location, at the intersection of 11th and M Streets, NW neighbors other new residential developments as well as classic townhomes and smaller commercial buildings on tree lined, pedestrian friendly streets. “Logan Circle is a historic area of the District that melds modern developments with classic Victorian heritage,” Johns said. “The neighborhood is eminently walkable—just two blocks north of the Central Business District and surrounded by four Metro stations. And Logan Circle is known for its variety of retailers, restaurants, art galleries, live...

Yardi announced today that Pinnacle has expanded its Yardi solution footprint, adding advanced ancillary services from the integrated Yardi suite of products to optimize its real estate marketing, leasing, financial and operational efforts with a single software platform. With an unwavering focus on exceeding expectations, Pinnacle sought a full business solution that would not only improve operational processes but help team members provide superior service to residents and also increase the value of each client’s investment. To achieve this, Pinnacle added products from the Yardi Multifamily Suite™ to its Yardi Voyager® platform and moved from their self-hosted environment into the Yardi cloud. According to Rick Graf, president and CEO of Pinnacle, “We require integrated best of breed solutions and a strong technology partner to provide our clients with unrivaled service and results. With Yardi, we have an all-in-one platform with mobility to meet our high management standards and surpass our clients’ expectations in the most cost-effective way possible.” He continued, “Yardi Voyager combined with RentCafe™, Yardi Resident Screening™, and Yardi Energy Solutions™ allows us to streamline our workflows through a single database for marketing, CRM, leasing, maintenance, accounting, utility billing, reporting, and more.” “We’re thrilled that Pinnacle has chosen the Yardi single-stack platform to achieve a full business solution that delivers a more competitive management offering,” said Terri Dowen, senior vice president of sales for Yardi. About Pinnacle Property Management Services, LLC Pinnacle Property Management Services, LLC is a privately held national real estate provider specializing in third-party management of multifamily residential communities. As one of the nation’s preferred third-party managers of multifamily housing, Pinnacle’s portfolio includes nearly 135,000 residential units and two million square feet of commercial assets. With corporate headquarters in Dallas, Texas, Pinnacle has 3,000 employees located in 35 states and...

Viva Industrial Trust Management (VIT) will leverage cloud-based property management and automated budgeting solutions from Yardi to manage its 2.4-million-square-foot business park and industrial property portfolio. VIT selected Yardi Voyager®, a browser-agnostic, mobile enabled Software as a Service (SaaS) platform that utilises the latest in cloud services technologies. VIT has its own installation of the application and its own secure database, allowing the company to control program versions and upgrades. VIT anticipates faster budget review completion, highly accurate budgeting and forecasting, timely calculation of net present values and internal rates of return, and advanced commercial tenant analytic reports from Yardi Advanced Budgeting & Forecasting™. “We were impressed with Voyager’s extensive functionality, ease of use and strong local presence. Voyager will help us make well-informed business decisions by improving our business processes resulting in better service for our tenants,” said the financial controller of VIT, Mr Lawrence Chan. “VIT is one of many real estate investment trusts (REITs) to recognize the benefits of applying proven property solutions that solve critical business challenges,” said Neal Gemassmer, vice president of international for Yardi.  “We are excited to welcome VIT to our growing roster of Asia Pacific clients.”   About Viva Industrial Trust Management Viva Industrial Trust (VIT) is a Singapore-focused business park and industrial trust listed on the Mainboard of the Singapore Exchange (SGX-ST), which comprises Viva Industrial Real Estate Investment Trust (VI-REIT) and Viva Industrial Business Trust (VI-BT). VIT focuses on a diversified portfolio of income-producing real estate that is used predominantly for business parks and other industrial purposes in Singapore and elsewhere in the Asia Pacific region. VIT properties cover an aggregate gross floor area of 2.4 million square feet. Its 11 buildings serve more than 100 tenants. For more information, visit...

Yardi client The Presidio Trust has been honored with an award from the National Trust/Advisory Council for Historic Preservation. The Presidio Landmark Apartments, a 154-unit complex, were developed by converting a former hospital on the historic San Francisco military base into multifamily living. The process involved a public-private partnership that not only preserved the historic character of the existing property but created a new sustainable community to help address San Francisco’s dire need for housing. The $71 million, 220,000 square foot renovation project was completed in 2010, according to a report in Multi-Family News. The Presidio Trust worked with Forest City Enterprises and Perkins+Will architects to design and execute the work. According to the Presidio Landmark website, “Nowhere else in San Francisco will you find an historic building that’s been thoughtfully and sustainably renovated, with modern comforts, conveniences and pampering services — all within a National Park.” Preserved features from the original hospital property include sun porches, marble hallways, doors and windows, and the brick exterior. Construction work was completed to LEED Gold certification. Perched along the edge of the Pacific at the mouth of the San Francisco Bay, the Presidio was once home to thousands of military personnel. Other reuses of buildings on the property include conversion of an officer’s quarters to create a boutique hotel. The Presidio Trust uses Yardi Voyager to manage its commercial and residential leases. There are 3,000 residents and 200 leaseholders within the Presidio, which became financially self-sufficient under its unique management set-up in 2013. The U.S. Army turned the property over to the National Park Service in 1994, and the Trust was established to achieve revenue growth and financial stability in 1996. “We pride ourselves on the careful management of the park’s finances. Implementing Voyager to capture...

Colleen Gray admits that when a frigid ice storm struck her hometown of Toronto, Ontario a few days before Christmas, she wasn’t prepared. “I had no flashlight, candles, tasty emergency food,” said the Business Applications Leader for Real Estate Management Services, a Yardi client. Her apartment lost power on Dec. 21 around 10 p.m. Nor did she realize that power was going to be out for more than three full days. The storm knocked out electricity and other services to 300,000 Toronto residents, and a few hundred were still without power as of this writing on Dec. 30. Anxious to have the most up-to-date information on weather conditions, expectations for the next few days how friends, family and colleagues were doing, Colleen was glued to her iPhone, which she hadn’t charged the night the power went out. “I was trying to get information from web sites, while at the same time rationing data access as I knew it drained the battery pretty fast,” she told us in an email. But Sunday morning, she was already below 50 percent of her battery and had no idea how much longer it would be out – service wasn’t restored until 6 p.m. on Dec. 24. Then she remembered – a tiny, battery powered iPhone charger was included in a gift for clients delivered at Yardi’s recent Canadian client appreciation dinner. “Brilliant!  This gave me enough juice to get through the day and evening. The next day I went to the office and was able to charge up both my iPhone and Portable charger to get me through another night.   It was a tremendous comfort knowing that I wasn’t going to run out of power when the only thing connecting me to information and friends and family was...

He was a member of the Greatest Generation who exemplified its values so wholly that Tom Brokaw featured him in the definitive book by the same name. His success in real estate development changed and improved the state of Indiana post-World War II, but that success never went to his head. He and his beloved wife, Marilyn, gave away several fortunes to improve the lives of others and make their state a better place. Yardi would like to recognize and honor the legacy of Eugene Biccard Glick, who passed away in Indiana at age 92 earlier this month. Glick leaves behind not only his family and apartment management company, Gene B. Glick Co., but a legacy of community service and philanthropy. According to his official obituary, he and Marilyn established the Eugene & Marilyn Glick Family Foundation, one of the largest private foundations in the state, in 1982. They funded the Glick Eye Institute at the Indiana University School of Medicine, the Indianapolis Cultural Trail, the Indiana Authors Award, and projects in arts, education, public health, and aid organizations throughout the state. The pair also established The Glick Fund of the Central Indiana Community Foundation and The Glick Fund of the Jewish Federation of Greater Indianapolis (JFGI). One of Gene’s favorite philanthropic projects was the Pro-100 mentoring program, administered by the Children’s Bureau. Created by Glick in 1981, Pro-100 offers paid summer internships for disadvantaged youth. As his business thrived, he gave even more back in return. “Gene Glick was an entrepreneur in the truest sense of the word,” said David Barrett, President and CEO of the Gene B. Glick Company.  “He started with very little and built a successful company that is respected throughout our industry.  He was an inspiration to many of...

Greystar paved the way for an impressive finish to 2013 with multiple national awards. When National Multi Housing Councill unveiled its annual list of 50 Largest U.S. Apartment Managers, Yardi client Greystar emerged on top yet again. It received the same honor from Multifamily Housing Executive magazine. The company holds several years in the first place with both entities. Recent growth facilitates a promising 2014 as well. Greystar emerged as an unexpected victor in an arduous and complex acquisition. Greystar, along with partner Goldman Sachs, received a portion of a 27-property portfolio that includes over 2,000 units. It was part of a $1.5 billion dollar disposition; Equity Residential sold a total of $9 billion in assets to fund the purchase of Archstone. “Given the breadth of our organization and our presence in each of their markets, we were able to underwrite a significant number of assets and had the ability to perform due diligence quickly,” reports Greystar CEO Bob Faith. The additional properties will help Greystar stay among the nation’s largest managers. The company also has gained approval for a $50 million plan to revitalize the Linwood neighborhood in Fort Worth (rendering, above right). After purchasing 24 vacant duplexes, Greystar will raze the site and construct 22, three-story row houses, and four apartment buildings with a combined 352 units. If the deal closes in August as planned, the project will be ready for the public in January 2015. Though the company continues to grow, its members are dedicated to maintaining a community culture that is supportive and personable. This goal is accomplished in part by an engaged and compassionate staff of employees. Greystar received the 2012 National Resident Satisfaction Award issued by SatisFacts. The award is decided based upon customer satisfaction scores, lease renewal...