Real estate firm positions for growth with innovative student housing management software
SANTA BARBARA, Calif., Jan. 26, 2021 — Ashland Pacific has selected Yardi® software to manage its growing portfolio of student housing. The West Coast-based real estate investment firm will combine solutions from the Yardi Student Housing Suite to grow its joint venture student housing portfolio and full-service property management business.
The Yardi Student Housing Suite includes technology that works together to help market, lease and manage student properties, reducing paperwork and increasing efficiency to drive income. Ashland Pacific will use Yardi Voyager®, RentCafe® Student and Yardi® Procure to Pay as well as integrated screening, maintenance and payment processing tools to streamline operations on a single stack of solutions.
“Yardi’s student housing software allows owners and managers to lease the way they need to, for the academic term or for standard leasing terms, with easy-to-use tools to match roommates, perform bulk move-ins, text residents and much more. Centralizing operations, accounting, leasing and maintenance on one platform streamlines procedures,” said Terri Dowen, senior vice president of sales at Yardi. “We look forward to working with Ashland Pacific to meet and exceed the expectations of their specific renter demographic.”
In 2020, Ashland Pacific formed a joint venture with Integrated Capital Management, acquiring an $18 million portfolio of student housing assets located less than a mile from the University of Southern California campus, bringing its owned/managed portfolio to 40 properties valued at nearly $80 million. The joint venture established a $150 million fund to acquire and manage additional student housing properties on the West Coast.
“The student housing market continues to be strong, and our organization is primed for significant growth in the coming years. Working with Yardi enables us to scale our business using a single integrated system while keeping costs manageable and transparent,” said Troy Dodgion, executive vice president and COO of Ashland Pacific.
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About Ashland Pacific
Founded by industry veterans, Ashland Pacific is a vertically integrated real estate firm focused on investing in and managing student housing and other value-add properties with historical market resiliency. Ashland Pacific’s team has collectively managed close to $20 billion in assets combining a fiduciary mindset and entrepreneurial culture to produce a strong track record that has weathered multiple market cycles over the last 30 years. From investments and acquisitions to property management, the firm focuses mainly on undervalued assets, properties and urban developments with an opportunity for large return on investment over the long term in the West and Southwest U.S. Ashland’s team studies macro-economic and demographic trends for a thorough investment strategy and maintains a full service, hands-on management approach to ensure quality and accountability. For more information, please visit ashlandpacific.com.
About Yardi
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, California, and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.