SANTA BARBARA, CALIF., Nov. 6, 2008 – Yardi Systems, a leader in developing real estate software for investment, asset and property management, announced that IHP Capital Partners, one of the U.S.’s largest investment firms providing equity financing for residential development, has selected Yardi Investment Management™ to manage its portfolio.
IHP will use the state-of-the-art investment accounting, reporting, valuation, and executive management tools available from Yardi Investment Management to reduce risk, improve efficiency, and strengthen investor confidence through increased corporate transparency.
“Our previous system could not fulfill all of our needs; we had outgrown its capabilities and needed a more powerful and flexible one that could prepare more reliable, relevant and timely financial data,” said IHP Chief Accounting Officer Mark Shea. “Of the systems we reviewed, Yardi was the best suited for our fund management needs. It is equipped to receive data from investment partners and turn that information into various reports for both the individual and institutional investors in our funds. These capabilities are what real estate companies need to lead us through these challenging economic times.”
“We are delighted that Yardi Investment Management will deliver the increased operational efficiency, heightened transparency, and comprehensive oversight that IHP needs to grow its business,” added Terri Dowen, Yardi senior vice president of Sales.
IHP is carrying out a four-month rollout of Yardi Investment Management across 53 projects in 14 U.S. states.
Yardi Investment Management is a fully integrated suite of browser-based investment management tools developed specifically for the real estate industry. It automates complex portfolio accounting and reporting processes and facilitates expansion into new markets, including international ones.
About IHP Capital Partners
Founded in 1992 and headquartered in Irvine, Calif., IHP is one of the nation’s largest residential real estate investment firms. IHP invests institutional capital in real estate projects throughout the United States and has established successful, long-term, joint-venture partnerships with more than 20 of the nation’s largest homebuilders and land developers. IHP has more than 230 active and completed projects in 14 states from Hawaii to Delaware. The firm and its investment partners have created residential neighborhoods, communities and projects valued at more than $17 billion. More information about IHP Capital Partners is available at www.ihpinc.com.
About Yardi
Yardi Systems is committed to the design, development, and support of real estate software for investment, asset, and property management, serving organizations of all sizes. For more than 25 years, Yardi’s technology and services have led the industry through responsiveness and innovation, becoming the premier application for real estate software solutions worldwide. Yardi’s software is client-driven and serves more than 20,000 businesses, corporations, and government agencies, representing more than 7 billion square feet of commercial space and 8 million residential units globally.
Headquartered in Santa Barbara, Calif., Yardi Systems has offices throughout the United States, Canada, Europe, Asia, and Australia. More information about Yardi products and services may be found by visiting www.yardi.com.
Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255