Software suites will help limit operational costs as portfolio expands
SANTA BARBARA, CALIF., March 11, 2015 – Institutional asset manager Principal Real Estate Investors will use newly acquired solutions from the Yardi Commercial Suite™ and the Yardi Investment Suite™ to help reduce business process lifecycles, increase transparency into operational performance and monitor investment risk as it prepares to execute its growth strategy.
The single stack of integrated Yardi business solutions will provide Principal Real Estate Investors’ commercial property managers and operating partners a common platform for property management, accounting and budgeting. It will also provide a 360-degree view of the company’s commercial investments.
“Our goal is for the Yardi Commercial and Investment Suites to provide a technology platform that will help drive accurate, real-time performance analysis that improves decision-making and mitigates risk. As we increase our assets under management, we expect the Yardi platform to help us achieve scale without a corresponding increase in G&A,” said Ken Dubas, senior managing director and chief operating officer for Principal Real Estate Investors. “One objective is to unify our asset management and investor reporting operations with a single stack approach to benefit our internal staff, investors and third-party property managers.”
“Principal Real Estate Investors is one of the premier real estate asset management firms in the world and we look forward to collaborating with them and their property managers. We are very excited that they chose the Commercial Suite and Investment Suite. These solutions are designed to drive workforce efficiency and reduce business process lifecycles while providing powerful and flexible analytics, reporting and business intelligence for managing the entire real estate lifecycle,” said Alan James, Yardi’s industry principal for commercial and investment management.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $57.2 billion in commercial real estate assets (as of Dec. 31, 2014). The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
About Yardi
Now in its fourth decade, Yardi® is committed to the design, development and support of software for real estate investment management and property management. With the Yardi Commercial Suite™, the Yardi Multifamily Suite™, Yardi Investment Suite™ and Yardi Orion™ Business Intelligence, the Yardi Voyager® platform is a complete real estate management solution. It includes operations, accounting and ancillary processes and services with portfolio-wide business intelligence and platform-wide mobility. Yardi is based in Santa Barbara, Calif., and serves clients worldwide from offices in North America, Asia, Australia, Europe and the Middle East. For more information, visit www.yardi.com.