Platform provides centralized operational control and information visibility for building owners, tenants, property managers, and service providers

Solon, Ohio – January 20, 2022 – MRI Software, a global leader in real estate software, has acquired Angus Systems, a Toronto-based provider of enterprise-class building operations management software for commercial real estate owners and operators. Complementing the company’s existing facilities management (FM) solutions with an enhanced breadth and depth of functionality, Angus Systems expands MRI’s ability to support clients embracing digital transformation and managing ever-changing work environments amid the ongoing pandemic. This transaction closely follows MRI’s August acquisition of FSI, a U.K.-based provider of FM software.

Angus Systems serves more than 700 customers, and its platform, Angus AnyWhere®, is used to manage 2.7 billion square feet of property across North America. The solution encompasses service management, access control, and tenant experience, delivering centralized control and information across work orders, credentialing, touchless entry, amenity services, and building communications. Bringing more than 120 team members to the MRI family, the acquisition reaffirms MRI’s commitment to the Canadian market and enhances the company’s local presence and support.

“The employee, tenant and resident experience is central to our desire to make the world a better place to live, work and play,” says Saurabh Abhyankar, MRI’s chief product officer. “Angus Anywhere, with its leading work order management and mobility capabilities, adds to our FM solutions suite to allow our clients to run more efficient buildings, provide people with better on-site experiences, and ensure a more sustainable future.”

Landlords and corporations across a wide range of industries and geographies are implementing return-to-office initiatives or hybrid work arrangements. Technology plays a key role in addressing new standards for health, safety, and compliance, as well as demands for digital, data-driven building operations and enhanced tenant experience. Modern, purpose-built platforms like Angus AnyWhere support all of these needs, unifying owners, tenants, vendors, and technicians under one system.

Angus Systems’ solutions enable organizations to:

• Save time and money through automation: streamline manual processes and communicate with building stakeholders in real time, increasing efficiencies and supporting operational, financial, and cultural resilience across the workplace
• Heighten safety and security: establish comprehensive access control and visitor management, both of which are essential tools in the ongoing pandemic
• Enhance the tenant experience: engage with the building community and better manage building services and amenities, which many tenants now expect from their office environments
• Enjoy flexibility: integrate easily with other products across the CRE tech stack
• Access from anywhere: leverage the mobile-powered, cloud-based platform in the field, in the office, and outside the workplace
• Improve decision-making with better data: automate data compilation to monitor, track, and optimize operations and performance

“The time is right to enable future growth, and we could not be more excited about this next step in our journey,” says Chris Gale, president and chief executive officer of Angus Systems. “MRI’s commitment to innovation and client success mirrors our own, and I’m confident they’ll be a great partner to not only carry our legacy forward, but take it to the next level. We’re excited to introduce our solutions to this growing and thriving community.”

In addition to expanded support and development resources, Angus Systems clients will be able to take advantage of a broad portfolio of complementary solutions, including energy and property management products, to help their businesses thrive. MRI will continue to support Angus Systems’ customers without interruption.
About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
(North America for MRI)
Rachel Antman
+1 212-362-5837
rachel@saygency.com

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post MRI Software Acquires Angus Systems, a Toronto-Based Provider of Building Operations Management Software appeared first on MRI Software.

Latest acquisition further increases MRI’s presence, support and client base in the APAC region

Sydney, Australia – 13 January 2022 – Global PropTech leader MRI Software today announces its acquisition of LeaseEagle, an Australian-based leader in commercial property lease management solutions for tenants in corporate, retail, healthcare and other sectors. Founded in 2005, LeaseEagle’s software is used by clients to manage over 50,000 locations across Australia, New Zealand and South Africa.

LeaseEagle delivers advanced software solutions designed to help commercial tenants effectively manage lease commitments across multiple real estate assets. In addition to ensuring compliance with IFRS 16/AASB 16 lease accounting standards, LeaseEagle’s cloud-based platform reduces the risk of missing critical lease dates and makes detailed occupancy analysis simple. It also provides data-driven reporting for better decision making, saves time and improves accuracy with automated invoicing and significantly increases business process efficiency.

MRI Software managing director and senior vice president (Asia Pacific), David Bowie, says adding LeaseEagle to MRI’s existing suite of integrated workplace management systems (IWMS) and unique AI-based lease abstraction and intelligence solutions is “timely and strategic.”

“Australian commercial property deals in 2021 were nearly double the value of 2020 investments amid the most extensive rewrite of property leases in history. That mix of fast growth and complex change represents very high risk, and I believe this acquisition gives MRI the right solutions and expertise to help clients reduce that risk.”

Mr. Bowie explains, “Very few tenants retained a simple monthly rental profile over the last 18 months. Many faced variable credits, floating deferments and conditional termination rights, all of which heighten the risk of manual error that can cost organizations dearly – in some cases, as much as hundreds of thousands of dollars.

“For large tenants, the complexity and burden for compliance and accuracy with data-intensive lease accounting standards is significant. LeaseEagle provides those organizations with the ability to centralize all lease and franchise information, gain real-time reporting and integrate process automation, and we’re thrilled to welcome them to the MRI family,” Mr. Bowie says.

Lee Trevena, chief executive officer and founder of LeaseEagle, adds, “I had each one of our 185+ clients in mind when considering this transaction. Well-loved brands rely on LeaseEagle as a single source of truth for multi-site lease management, and MRI’s history of cultivating a client-centric culture and bringing in the right talent to deliver the best value to their customers makes this the perfect fit. I look forward to the LeaseEagle team adding to that legacy.

“My strong belief is that joining the global MRI family will provide our customers the best of both worlds by giving them access to some of the world’s best real estate expertise, innovation, client service and support resources while maintaining everything they know and love about LeaseEagle,” Mr. Trevena says.
IFRS 16/AASB 16 standard compliance

The International Financial Reporting Standards (IFRS) and the Australian Accounting Standards Board (AASB) mandated full compliance with new lease accounting standards known as IFRS 16 and AASB 16 from 1 January 2019. Since then, far more complex lease reporting data is required across entire lease and option periods.

For those companies impacted, non-compliance is simply not an option. LeaseEagle ensures clients have the reporting, analysis and data management needed to effectively maintain compliance while balancing their already demanding workload.

MRI’s latest acquisition of LeaseEagle also complements other recent acquisitions in the Asia Pacific region, including Box+Dice, Palace and WhosOnLocation in 2021, and Rockend in August 2019.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work as well as play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. MRI became one of the first real estate software providers to serve Australia and New Zealand in 1995 and further strengthened its commitment to the region with acquisitions of Rockend, WhosOnLocation, Palace, Box+Dice and LeaseEagle. For more information, visit mrisoftware.com

Media contacts
For more information, to arrange an interview and/or photography please contact the PR person listed below closest to you:

Australia & New Zealand for MRI
Heather Jones (+61 (0) 400 394 669)
heather@hjconsulting.com.au

EMEA for MRI
Hugh Filman (+44 7905 044850) or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

North America for MRI
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

The post MRI Software Acquires Melbourne-based LeaseEagle to Help Tenants Navigate Changing Lease Accounting Compliance Requirements appeared first on MRI Software.

BETHESDA, MD. and SOLON, OHIO – January 6, 2022 – Over half (53%) of workers want to see their workplace introduce the property technology that has the ability to record proof of COVID-19 vaccination. This response is according to the second Return to Work report from MRI Software, a leading international provider of real estate and workplace management solutions, and Brivo, a global leader in cloud-based access control and smart building technologies.

The report, which includes responses from over 1,000 people in the United States, follows an earlier study from May 2021 and offers insight across more than a dozen sectors. It explores people’s health and safety concerns related to their return to the office and preferred working arrangements as the world continues to emerge from the pandemic.

Support for employers to track vaccinations reflected broader concerns about health and safety in offices. More than half of respondents (52%) said they had safety and health concerns about returning to the workplace, but that figure was down from 62% in the May report. There was a clear difference, however, between the type of industries and the level of concern about working onsite. People in professional services were the most apprehensive, with 61% reporting concerns about returning full time. In comparison, just 41% of respondents in the service industry had concerns about returning to the workplace full time.

“The research indicates that health and safety concerns remain a significant barrier to returning to the workplace,” commented Brian Zrimsek, Industry Principal at MRI Software. “There is clearly still a sense of unease among many in the wider workforce. Businesses encouraging a return to offices and other workspaces need the right technologies in place to implement and communicate health and safety measures, ensuring employees can work together in person in a safe environment.”

“Employers are preparing for a permanent hybrid approach by adapting their offices and workplace tech stacks,” said Steve Van Till, Brivo Founder and CEO. “We’ve seen that access management is foundational to enabling co-working and flexible usage models for commercial real estate. Our integration of secure access with workplace and tenant experience applications gives HR and facility managers a simple and automated mobile solution for transitioning to this new normal.”

Other key findings reveal workers’ attitudes to remote working:

• 78% of respondents prefer working from home at least some of the time, which is consistent with the initial survey;
• Of the workers who are not back at the workplace full time, 45% expect to be back full-time within six months, down from 53% in the previous survey;
• A third (33%) of all respondents don’t expect to return to full-time onsite work again;
• 36% of male respondents indicated they would continue working from home indefinitely, compared to 28% of female respondents;
• 77% of respondents with C-suite titles indicated they would never return to full-time onsite work;
• Only 22% of respondents didn’t want to work from home, with nearly a third of these people working in the social services or service industry.

The survey also revealed that people in creative or professional services are the most likely to continue working from home indefinitely, while people in the service industry are the least likely.

“Despite many employees working remotely over the past 18 months, there’s still a clear appetite to return to the workplace for the in-person interactions that cannot be replicated in a virtual environment,” concludes Zrimsek. “However, it’s undeniable that working from home is here to stay. PropTech tools are expected to be essential for managing safe hybrid working environments, giving employees the ability to book desks and meeting spaces and enabling businesses to plan how much office space is required for their workforce and develop real estate strategies for the future.”

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

About Brivo
Brivo, Inc. created the cloud-based access control and smart spaces technology category over 20 years ago and remains the global leader serving commercial real estate, multifamily residential and large distributed enterprises. The company’s comprehensive product ecosystem and open API provide businesses with powerful digital tools to increase security automation, elevate employee and tenant experience and improve the safety of all people and assets in the built environment. Brivo’s building access platform is now the digital foundation for the largest collection of customer facilities in the world, occupying over 300 million square feet across 42 countries. On November 10, 2021, Brivo entered into a definitive merger agreement with Crown PropTech Acquisitions (NYSE: CPTK), which is anticipated to close in Q2 2022, subject to shareholder approvals and other closing conditions. The merger will result in Brivo becoming a publicly listed company on the New York Stock Exchange under the new ticker symbol “BRVS.” Additional information about the transaction can be viewed here: www.brivo.com/about/investor-relations. Legal Disclaimer: https://www.brivo.com/about/investor-relations/legal-disclaimer/.

This press release is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination (the “proposed business combination”) between Brivo, Inc. (“Brivo”) and Crown PropTech Acquisition Corp. (“Crown”) and related transactions and for no other purpose.

Forward Looking Statements
These communications include “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity and market share, expectations and timing related to commercial product launches, potential benefits of the proposed business combination and the potential success of Brivo’s go-to-market strategy, and expectations related to the terms and timing of the proposed business combination. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Brivo’s and Crown’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Brivo and Crown. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the proposed business combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination or that the approval of the shareholders of Crown or Brivo is not obtained; the lack of third party valuation in determining whether or not to pursue the proposed business combination; failure to realize the anticipated benefits of the proposed business combination; risks relating to the uncertainty of the projected financial information with respect to Brivo; the risk that the conditions to the financing for the proposed business combination may not be satisfied or waived; the effect of the announcement or pendency of the proposed business combination on Brivo’s business relationships, performance and business generally; risks that the proposed business combination disrupts current plans of Brivo and potential difficulties in Brivo employee retention as a result of the proposed business combination; the ability to implement business plans, forecasts and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities; Brivo’s ability to attract and retain customers; the combined company’s ability to up-sell and cross-sell to customers, including the success of Brivo’s customers’ development programs, which will drive future revenues; the ability of the combined company to compete effectively and its ability to manage growth; the amount of redemption requests made by Crown’s public shareholders; the ability of Crown or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; the risk that the combined company’s securities will not be approved for listed on the New York Stock Exchange or if approved, that such listing will be maintained; and those factors discussed in Crown’s final prospectus dated February 8, 2021, Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, dated August 16, 2021 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, dated October 12, 2021, and the preliminary proxy statement/prospectus of Crown related to the proposed business combination dated December 22, 2021, in each case, under the heading “Risk Factors,” and other documents of Crown filed, or to be filed, with the Securities and Exchange Commission (“SEC”). If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Crown nor Brivo presently know or that Crown and Brivo currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Crown’s and Brivo’s expectations, plans or forecasts of future events and views as of the date of this communication. Crown and Brivo anticipate that subsequent events and developments will cause Crown’s and Brivo’s assessments to change. However, while Crown and Brivo may elect to update these forward-looking statements at some point in the future, Crown and Brivo specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Crown’s and Brivo’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Additional Information About the Proposed Business Combination and Where To Find It
The proposed business combination will be submitted to shareholders of Crown for their consideration. Crown filed a registration statement on Form S-4 (the “Registration Statement”) with the SEC which includes a preliminary proxy statement and will include, when available, a definitive proxy statement to be distributed to Crown’s shareholders in connection with Crown’s solicitation for proxies for the vote by Crown’s shareholders in connection with the proposed business combination and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to Brivo’s shareholders in connection with the completion of the proposed business combination. After the Registration Statement has been declared effective, Crown will mail a definitive proxy statement and other relevant documents to its shareholders as of the record date established for voting on the proposed business combination. Crown’s shareholders and other interested persons are advised to read the preliminary proxy statement / prospectus and any amendments thereto and, once available, the definitive proxy statement / prospectus, in connection with Crown’s solicitation of proxies for its special meeting of shareholders to be held to approve, among other things, the proposed business combination, because these documents will contain important information about Crown, Brivo and the proposed business combination. Shareholders may also obtain a copy of the preliminary proxy statement or, once available, the definitive proxy statement as well as other documents filed with the SEC regarding the proposed business combination and other documents filed with the SEC by Crown, without charge, at the SEC’s website located at www.sec.gov or by directing a request to 667 Madison Avenue, 12th Floor, New York, NY 10065, attention: Nikki Sacks.

INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

Participants in the Solicitation
Crown, Brivo and certain of their respective directors, executive officers and other members of management, employees and consultants may, under SEC rules, be deemed to be participants in the solicitations of proxies from Crown’s shareholders in connection with the proposed business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Crown’s shareholders in connection with the proposed business combination is set forth in the Registration Statement. You can find more information about Crown’s directors and executive officers in Crown’s final prospectus dated February 8, 2021 and filed with the SEC on February 10, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement / prospectus when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement / prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

MEDIA CONTACTS:
Brivo Investor Contact
Investors@brivo.com

Brivo Media Contact
Press@brivo.com

UK for MRI
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

US for MRI
Rachel Antman
+1 212-362-5837
rachel@saygency.com

ANZ for MRI
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post Survey Reveals Majority of Workers Want Employers to Record Proof of COVID-19 Vaccination appeared first on MRI Software.

Survey by MRI and CoreNet Global reveals firmer remote working policies; increased technology adoption to manage the workplace

Solon, Ohio – November 8, 2021 – The latest research from MRI Software, a global leader in real estate solutions, shows that commercial occupiers’ willingness to allow all employees the choice to work remotely fell dramatically from 39% to 26% between March and September 2021. Seventy percent of survey respondents planned to institute policies that tighten up remote work eligibility and onsite requirements – up from 60% in March. The research also showed that landlords’ apprehension over the rise of remote working increased significantly over the same period, with 43% concerned about its impact on their business compared to just 26% in March.

In carrying out the research, MRI partnered with CoreNet Global, the leading association for corporate real estate professionals, to survey a group of close to 200 tenants and landlords from a range of industries globally.

The findings offer insights into post-pandemic views on the future of the office, with analysis contained in a full report entitled MRI Software Market Insights: Views from Real Estate Occupiers and Landlords on the Return to Office. The results show that, overall, nearly 80% of responding commercial occupiers have increased the availability of remote work. It also shows that 69% of respondents said that the worldwide shift to remote working during the pandemic has fundamentally changed their long-term approach to space usage – only slightly down from 71% in March.

“Many companies already made remote work available before the pandemic, but the mass shift to home working demonstrated to most businesses that staff and executive teams could continue to be productive outside of the office,” notes Brian Zrimsek, Industry Principal at MRI Software and author of the research report. “Pandemic-driven technology adoption simplified the process of staying connected and collaborative, but organizations still recognize the benefit of bringing employees back to the office and offering hybrid work arrangements that support engagement, workplace culture and productivity.”

Occupiers project fuller offices in the new year
The report shows that, as more employees are expected to return to the office, commercial occupiers’ views on the future of work continue to evolve. In fact, 57% of corporate tenants expect to have more than half of their workforce back in the office by the end of Q1 2022, while landlords were more optimistic, with 67% expecting the majority of workers to be back onsite by the end of Q4 2021. Other key findings that show some change in thinking in recent months include:

• 49% of commercial occupiers are converting or expanding their use of hot-desking, slightly down from 54% in March
• 42% of corporate tenants indicated that they would require less space after the pandemic, down from 56% in March
• At the same time, 61% of landlords expected their tenants to lease the same or more space despite the prospect of more remote working in the future, but this figure was also down from March (67%)
• By September, 74% of landlords were seeing tenants negotiating new lease terms (up from 58% in March), while nearly double said tenants were letting leases lapse (48% versus 26% in March)

New technologies for new circumstances
Both occupiers and landlords see a strong need to adopt technologies to handle changing requirements as the pandemic abates. The survey showed that 70% of corporate occupiers plan to adopt new technologies to manage changes in space usage. The proportion of landlords that thought their existing technologies were sufficient to manage changes in space usage dropped from 61% to 45% between the two 2021 surveys. The most recent results reveal that 61% of landlords expect to adopt new technologies to handle changing space needs, compared to 55% in the previous survey. The top functions named by landlords planning to adopt new technologies going forward included:

• Track and manage who is onsite (employees, visitors, contractors) – 63%
• Strategically manage long-term space utilization and layout – 53%
• Schedule and reserve desks – 47%
• Better enable hybrid meetings between onsite and virtual attendees – 42%
• Reserve and manage meeting space – 21%

“Tenants and landlords have an opportunity to partner on ways to return to the office safely and effectively,” concludes Zrimsek. “With more employees returning to the workplace, it is clear that both commercial occupiers and landlords realize that PropTech tools will be essential to planning and maximizing space usage, meeting the requirements of a hybrid office, keeping the workforce safe, and developing the best real estate strategies for the future.”

MRI will present Leveraging Technology for Strategic Workplace Decisions at the CoreNet Global Summit in Seattle on Tuesday, November 9. MRI and CoreNet will discuss the report findings in a webinar for CoreNet members on November 18, 2021.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
UK for MRI
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

US for MRI
Rachel Antman
+1 212-362-5837
rachel@saygency.com

ANZ for MRI
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post New Research from MRI Software Provides Insights into Post-Pandemic Workplace appeared first on MRI Software.

Addition of global energy use specialist bolsters MRI’s facilities and real estate management solution set and empowers organisations to improve energy efficiency and reduce costs

London – 2 November, 2021 – MRI Software, a global leader in real estate software, announces it has acquired eSight Energy Limited, a UK-based software development company that empowers property owners, operators and occupiers worldwide to better manage their energy consumption and environmental footprint. Deploying eSight Energy® solutions enables organisations to improve energy-related decision-making and savings through off-the-shelf and customisable reporting and analytics. The acquisition enhances MRI’s comprehensive facilities and real estate management capabilities by adding energy monitoring solutions that decrease operating costs, reduce environmental impact, improve facility performance, and help meet legislative and compliance standards.

“One of the foundations of a well-connected community is sustainability. With this acquisition, we’re excited to continue empowering organisations to take on the challenge by helping them meet their environmental, social and governance goals,” says Saurabh Abhyankar, MRI’s Chief Product Officer. “Improving sustainability and energy efficiency results in a rare win-win-win by reducing costs, improving occupant health and helping the planet. eSight Energy provides businesses with the tools they need to help ensure they are doing everything they can to achieve these goals.”

eSight Energy software integrates with a broad range of real estate data sources and delivers a unified view of a company’s energy footprint – whether via interactive dashboards or detailed, customisable reports. The result is to provide actionable insights that reduce costs and consumption, helping organisations raise the value of their real estate portfolios while contributing to a more sustainable environment. Headquartered in Cambridge, UK, with offices in the US, the company monitors more than 260,000 buildings and production sites across 60 countries, helping its customers realise up to 30% savings on their energy costs.

MRI continues to invest in solutions that drive efficiency in every part of the organisation – from space scheduling, planning and booking to facilities lifecycle management to best-practice energy usage. The acquisition reinforces the company’s commitment to helping clients produce better overall ESG outcomes now and in the future. In addition, the information generated by eSight Energy software can be used to meet financial reporting requirements, such as energy and carbon reporting required by some governments. The software also simplifies and automates the tenant billing process, enabling accurate invoicing and on-time payments: It reads consumption data from tenant meters, generating error-free invoices; for multi-tenant buildings, the system can track individual submeters.

Janie Jefferies-Freer, CEO at eSight notes: “As a global leader in real estate software solutions, MRI furthers our reach and ability to help organisations worldwide boost their energy performance and environmental impact. From retail stores to universities to office blocks, today’s buildings are powered by a multitude of energy sources that produce large amounts of data from various systems, sensors and monitors. Combining eSight’s ability to tap into that data with MRI’s facilities management capabilities enables more organisations, whether large or small, to track energy consumption, identify issues and quickly resolve them.”

Founded in 1998 with the goal of monitoring energy consumption and reducing associated costs, eSight enables organisations to centralise and analyse all types of data affecting the energy efficiency of their buildings and equipment regardless of the data’s source, system or format. MRI will continue to support eSight users without interruption.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organisations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
UK for MRI
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

US for MRI
Rachel Antman
+1 212-362-5837
rachel@saygency.com

(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post MRI Software Addresses Real Estate Industry’s Sustainability Challenges With eSight Energy Acquisition appeared first on MRI Software.

Technology will help the University improve the leasing experience for students, tenants and Estates teams

London – 28 October, 2021 – MRI Software, a global leader in real estate software solutions, announced the University of Oxford has expanded its use of MRI Software solutions, further streamlining tenant leasing operations and improving the experience for staff and customers.

As one of the most famous institutions in Britain and the oldest university in the English-speaking world, the University of Oxford owns and manages a diverse property portfolio, including commercial, residential and student units, as well as land holdings. The University has been an MRI client for over ten years, successfully using MRI solutions for its core property management operations. The University will now implement MRI Horizon, a fully cloud-based property management and accounting platform to further enhance its operations in this area. The organisation will also implement MRI Sales & Lettings and the MRI Engage resident portal. These solutions are at the core of MRI Living, an end-to-end software suite that equips property owners/operators and agents with a comprehensive set of integrated residential management tools that provide leasing and management capabilities with customisable customer engagement portals.

Sarah Davies, Head of Finance, Estates Services at the University of Oxford said: “Estates Services’ working group undertook a rigorous evaluation process with several potential system providers. Throughout the process, the MRI team was responsive and agile in terms of our needs, and we are confident that working in partnership with them will provide us with a property management system that best fits the University’s operational and strategic requirements. The University envisages that implementation of MRI Horizon, MRI Sales & Lettings, and MRI Engage resident portal will deliver very considerable benefits to students, tenants and Estates teams by way of online engagement and streamlining of processes.”

A major aim of the project was to further improve the online leasing journey and provide a cutting-edge customer portal for students and staff. The University and MRI Software will be working in partnership to create the best possible onboarding process for students using the leasing portal.

Dan Foryszewski, Investor Solutions Team Manager at MRI Software said: “We are all excited to start the implementation with the University of Oxford team and build on our existing relationship. I am confident that MRI Living will allow the team to transform the way the University leases out properties, interacts with its customers and facilitates easy data sharing across its departments. We look forward to delivering a technology solution that will support a modern customer experience and strategic management of the University’s property portfolio.”

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organisations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
UK for MRI
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

US for MRI
Rachel Antman
+1 212-362-5837
rachel@saygency.com

ANZ for MRI
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post University of Oxford Chooses MRI Software to Transform Customer Service for Tenants appeared first on MRI Software.

Solutions empower visionary real estate organizations to work smarter and faster; extensive workplace management offerings support return to office

Solon, Ohio – October 20, 2021 – MRI Software, a global leader in real estate solutions, unveiled its latest artificial intelligence (AI)-powered PropTech products, its comprehensive workplace management offering and other innovative technologies at MRI Ascend, its North American users conference, held in Cleveland on October 17-20. The event brought together professionals from across the real estate industry – spanning commercial, multifamily, affordable and public housing and property investment firms – to attend keynotes, presentations and panels by MRI and its technology partners.

“We are thrilled to welcome our clients and partners to MRI’s hometown of Cleveland as we celebrate our 50th anniversary,” said Patrick Ghilani, MRI’s Chief Executive Officer. “The Ascend users conference remains at the heart of our client relationships, creating a unique atmosphere where we can listen, learn and work together to ensure that our solutions empower industry visionaries to stay at the forefront of a rapidly changing real estate technology landscape.”

Among the AI advancements revealed at Ascend was a preview of MRI Intelligent Insurance, scheduled for release later in Q4. The software will reduce reliance on manual data review processes associated with managing resident insurance programs by introducing AI-powered data abstraction capabilities. As a result, multifamily owners and operators can automate and simplify insurance management and create a better experience for renters and property management staff. Other AI solutions showcased included:

• MRI Contract Intelligence, uses AI to automate the data extraction and contract review process, making it significantly faster and more accurate than traditional methods of assessing property documents such as manual lease abstraction;
• CheckpointID, which leverages AI to map ID scans with facial recognition to provide more accurate and secure identity verification.

Saurabh Abhyankar, Chief Product Officer at MRI Software, noted: “MRI pioneered the PropTech industry 50 years ago, and today we continue to drive innovation by putting AI at the core of our open and connected approach to real estate software. We have an unwavering commitment to ensuring that our clients – whether real estate owners, operators, occupiers or investors – have access to the most advanced technologies, and we are committed to maximizing AI’s benefits across the MRI solution portfolio.”

MRI also spotlighted its recently launched Workplace Central solution set, which enables a safe return to the office as hybrid working, new onsite safety protocols and changing space usage require flexible technology tools to manage complex workspace needs. Workplace Central includes components for managing space planning and utilization, room and desk scheduling/booking, and presence management to track the flow of onsite employees, visitors and service providers.

The conference featured an inspirational keynote speech by Ohio State Buckeyes football great Archie Griffin, the only two-time winner of the Heisman Trophy and former president and CEO of the Ohio State University Alumni Association. As part of its commitment to giving back to the communities it serves, MRI partnered with the NBA’s Cleveland Cavaliers to raise money for NeoSTEM, a non-profit organization dedicated to furthering local Science, Technology, Engineering and Mathematics (STEM) programs in Northeast Ohio. MRI also took over the Rock & Roll Hall of Fame on October 18 for its ‘Rock the Block’ party featuring a concert by GRAMMY-award-winning band Train.

Ascend offered 120 sessions featuring MRI speakers, clients and partners focusing on major trends, challenges and opportunities in the real estate industry. Other highlights included: an MRI keynote on affordable and public housing; insights from Housing and Urban Development Deputy Administrator Jim Cunningham; and presentations and panels on the future of the office, technology’s role in responding to the pandemic, asset management and much more.

The health and safety of all Ascend attendees was a top priority for MRI. The event followed guidelines from CDC, state and local health authorities regarding masks, vaccinations and testing procedures.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(US for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post MRI Software Showcases Latest AI-powered PropTech at Ascend Users Conference appeared first on MRI Software.

Goldberg, IRG, Brooksville and RealFoundations are honored with awards
at the MRI Ascend users conference in Cleveland

Cleveland, Ohio – October 19, 2021 – MRI Software, a global leader in real estate software solutions, announced the recipients of the third annual RE:Visionary Awards at its MRI Ascend 2021 North American users conference, held in Cleveland on October 17-20. The awards, which were revealed in the general session on the second day of Ascend, address four categories: Lifetime Achievement, Innovation, Ambassador of the Year and Partner of the Year. The RE:Visionary Awards, formerly known as the MRI Innovation Awards, honor MRI clients and partners that have leveraged the company’s open and connected software and extensive partner network to elevate their business and gain a competitive advantage. This year’s awards were announced as the company celebrates its 50th anniversary.

“I’m thrilled to honor our community of clients and partners for their incredible work and dedication to transforming the way communities live, work and play, particularly during the challenges of the past year,” said Patrick Ghilani, MRI Software’s Chief Executive Officer. “These awards exemplify how collaboration and open software can exponentially drive innovation, not just for our mutual clients, but for the industry as a whole.”

2021 RE:Visionary Awards recipients:

Lifetime Achievement: Goldberg
Goldberg Companies and its affiliates (collectively known as GCI) is a national developer, general contractor and property manager of residential and commercial real estate. GCI, founded in 1952 and headquartered in Cleveland, was MRI’s first client when it launched in 1971 and remains actively involved with the company. As a pioneer in the industry, GCI has continued to evolve and innovate throughout the decades, constantly looking for new and better ways to create thriving communities. GCI relies on MRI Residential and Commercial Management and Accounting solutions to support its daily operations. Fueled by its desire to be on the cutting-edge, GCI Residential has embraced advanced AI technologies, including CheckpointID, MRI’s fraud and identity verification product, and MRI Resident Screening to further its risk management initiatives across their nationwide portfolio of more than 9,000 units.

Innovation: IRGRA
IRG Realty Advisors (IRGRA) has been an MRI client for almost 20 years and is currently one of the largest real estate services companies headquartered in Ohio with a portfolio of nearly 100 million square feet of assets in 30 states. IRGRA uses MRI Commercial Management, Residential Management, Fixed Assets, Analytix and Financials in MRI’s cloud platform. Currently, it leverages the flexibility of MRI’s open ecosystem by integrating with other software packages, automating manual tasks, adding custom tables, screens and reports, which all support the ever-changing business needs and the strategic goals of IRGRA. The company uses the self-service capabilities of Analytix to configure dashboards and reports that provide actionable insights to help make profitable, data-driven decisions for customers, investors, and owners.

Ambassador of the Year: Robb Napolitano, The Brooksville Company
Robb Napolitano is CIO of The Brooksville Company, a vertically integrated real estate investment and management firm that deals in large, complex multifamily properties throughout the New York Metropolitan area. MRI recognized Napolitano as its Ambassador of the Year because he was instrumental in driving technology transformation for affordable housing (AH). Under Napolitano’s leadership, Brooksville collaborated with MRI on a large-scale property management system migration for Spring Creek Towers, a 5,881-unit complex in Brooklyn, New York, and the largest HUD-financed development in the country. The partnership between MRI and Brooksville enabled the site to execute this transition 100% remotely due to COVID, which has never been done before. The partnership provided MRI an opportunity to apply enhancements from Spring Creek that will help other affordable housing providers automate property management activities, operate with greater transparency, improve efficiency and manage government compliance. Napolitano’s work is driving strategic initiatives that will bring long-term improvements for affordable housing portfolios nationwide.

Partner of the Year: RealFoundations
RealFoundations, a professional services firm focused on the real estate industry, was selected as an outstanding member of MRI’s Partner Connect program. A strategically influential partner, RealFoundations continues to pioneer revolutionary practices that help real estate organizations achieve business goals through technology, process improvement and systems planning and integration. The firm proactively identified opportunities to collaborate with the MRI team on projects covering system migrations, data conversions and implementations to drive success for clients, including an extensive project with a large, complex retail business. The partnership exemplifies how a shared commitment to providing flexibility and choice through an open approach to software benefits MRI partners and clients, while influencing future product development at MRI. The mutually beneficial partnership is strengthened by the close collaboration between staff at both companies and the strategic expertise and knowledge of the RealFoundations team.

The RE:Visionary Awards and MRI Ascend took place in the Huntington Convention Center in Cleveland. Ascend brought together MRI staff and users – more than 60 partners were represented – for four days of keynotes, presentations, networking events, seminars, workshops and exhibits on MRI and its real estate ecosystem.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(US for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post MRI Software Honors Real Estate Technology Leaders with 2021 RE:Visionary Awards appeared first on MRI Software.

Latest Report from MRI Software Reveals Significant Growth in Pricing and Traffic over Two-Year Time-frame

Solon, Ohio – September 22, 2021 – The latest report from Proptech firm MRI Software (“MRI”) shows a strong recovery in multifamily leasing in August 2021 compared not only to the prior year, but also to August 2019 (the pre-pandemic baseline).

Highlights of the report, based on data from one million market-rate units across three consecutive Augusts, include:

• Pricing increased 11% between 2020 and 2021 and 7% between the baseline and 2021.
• Traffic increased 18% between 2020 and 2021 and 38% between the baseline and 2021.
• Move-in volumes increased 16% between 2020 and 2021, down only 4% from the baseline.
• Renewal volumes increased 5% between 2020 and 2021, down only 7% from the baseline.
• Move-outs have decreased 13% between 2020 and 2021 and 30% between the baseline and 2021, fueling the tightening of supply.

Not every metric was positive, however. “Although concession volume has stabilized, the average concession value has remained high,” notes Brian Zrimsek, Industry Principal, MRI Software. “Furthermore, through MRI’s participation in the NMHC’s Rent Payment Tracker initiative, we know that ontime payment performance continues to erode, and that 8.5% of the delinquent rents are more than six months in arrears.”

MRI’s Market Insights team has also been tracking technology adoption, which has risen significantly throughout the pandemic. For example, the use of online applications was 26% percent higher in 2021 than in 2020 and more than double that of the baseline volume. Online payments, meanwhile, increased by 15% between 2020 and 2021. “These findings don’t surprise me,” says Zrimsek. “We find again and again that once people adopt technology, they don’t revert to ‘offline’ practices.”

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contacts:
(U.S. for MRI)
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post Multifamily Leasing Performance in August Exceeded Pre-Pandemic Levels appeared first on MRI Software.

Sydney, Australia – 13 September 2021 – MRI Software, a global leader in real estate software, today announces its acquisition of industry-leading customer relationship management (CRM) solution provider, Box+Dice. Melbourne-based Box+Dice adds a critical piece to MRI’s comprehensive PropTech portfolio, enabling real estate businesses to unify customer lifecycle visibility across both sales and rental property management.

For more than 15 years, Box+Dice has provided innovative CRM solutions to some of Australia’s biggest and most well-respected real estate companies. Just this year, the company was named the most innovative PropTech solution in the country by Proptech Association Australia. MRI’s commitment to an open and connected ethos means Box+Dice will continue working with alternative property management providers in addition to easily integrating with MRI PropertyTree, Australia’s leading cloud-based residential property management solution, and other MRI property technology offerings.

David Bowie, managing director and senior vice president (Asia Pacific) for MRI Software, said: “The acquisition of Box+Dice is a strategic piece of the puzzle for MRI and the progressive agencies we serve in this region. It means agency leaders are now empowered to make decisions that drive profitability and revenue for their entire business, while agents can know, anticipate and better serve the needs of a person throughout their property lifetime in one unified solution. It’s great knowing we can offer one comprehensive solution to help progressive agencies grow sustainably with best-in-class technology.”

Box+Dice also offers top-down reporting and insights across the entire sales operation. Whether agencies require visibility into vendor paid advertising, top sales performers or auction clearance rates, agency leaders are empowered to make decisions that drive profitability and revenue for their business.

Travis Williams, CEO and founder of Box+Dice, said: “I’m very proud of what Box+Dice has achieved in partnership with our customers over the last 15 years. Today’s news propels our innovation deeper and wider across the world. Our customers and team will benefit from MRI’s national and global resources and open and connected platform approach to PropTech, so I’m thrilled for Box+Dice to join the MRI family.”

MRI’s acquisition of Box+Dice further demonstrates its commitment to investing in Australia and New Zealand’s PropTech industry. It also complements previous acquisitions the company made in the region, including Rockend in August 2019 as well as Palace and WhosOnLocation earlier this year.

MRI will continue to support Box+Dice customers without interruption.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organisations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. MRI became one of the first real estate software providers to serve Australia and New Zealand in 1995 and further strengthened its commitment to the region with the acquisitions of Rockend, WhosOnLocation and Palace. For more information, visit mrisoftware.com

Media contacts
For more information, to arrange an interview and/or photography please contact the PR person listed below closest to you:

ANZ for MRI
Heather Jones (+61 (0) 400 394 669)
heather@hjconsulting.com.au

EMEA for MRI
Hugh Filman (+44 7905 044850) or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

North America for MRI
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

The post MRI Software Acquires Box+Dice, Adding Sales CRM to Its Suite of PropTech Solutions appeared first on MRI Software.

MRI Living Suite Now Includes AI-powered ID verification; Augmented Screening
Services through Expanded Partnership with TransUnion

Solon, Ohio – August 31, 2021 – MRI Software, a global leader in real estate technology, is announcing significant enhancements to its MRI Living^TM suite at the NAA Apartmentalize conference (August 31-September 2). MRI Living is a comprehensive and flexible residential management solution that empowers residential property owners and operators with the tools to attract and engage qualified residents, effectively manage operations, and make data-driven decisions using accurate reporting and insights.

The latest enhancements, which represent MRI’s continued long-term investments in the residential property sector, offer further automation of risk management and payments processes to address increasing levels of fraud and market demand for digital services:

Risk Mitigation

• ID verification ensures the safety of property staff and residents, helping staff spend their time on qualified applications, and improving tour safety while adhering to Fair Housing standards. MRI will be showcasing enhancements to its CheckPointID solution, now leveraging artificial intelligence (AI) to map ID scans with facial recognition to provide more accurate identity verification. In addition, it integrates with MRI’s property management solution to automate the creation of guest cards.
• Automated income verification will be available by the end of the year as part of the ID verification capability, adding another layer of fraud mitigation.
• Augmented resident screening through an expanded partnership with TransUnion. MRI’s screening services now use TransUnion’s highly accurate ResidentScore system, which predicts future behavior based on historic rent payment data.

These enhancements follow MRI’s 2020 acquisition of CheckpointID, which specializes in multifamily ID verification to reduce the risk of rental fraud. The company recently achieved a milestone of 60 million scans. MRI industry principal Terry Slattery, CEO of CheckpointID, emphasizes the importance of risk reduction in today’s market: “Fraud has increased significantly during the COVID-19 pandemic,” he notes. “ID verification tools offer multifamily owners and operators a reliable, easy-to-use way to prevent fraud before it affects the community.”

Integrated Payments

• As part of MRI Living, MRI’s RentPayment solution fully integrates with property management functionality to further streamline and automate the payments process.
• Demand for flexible payment options rose substantially during the pandemic, and residents at properties that use RentPayment from MRI have the convenience to pay their rent digitally, while property managers benefit from a smoother payments process and fewer headaches during rent week.

MRI will be showcasing these enhancements at three booths during the conference: 1045 (MRI Software), 2422 (CheckpointID) and 722 (RentPayment). You can also catch MRI industry principal Brian Zrimsek moderating two sessions: The Tech Transformation of the Nation’s Largest Affordable Housing Complex (August 31) and The Future of the Digital Leasing Office (September 1).

“We’re excited to show NAA attendees the new enhancements of MRI Living,” says Zrimsek. “As the industry evolves, today’s multifamily operators require open and connected software to take control of the entire resident lifecycle, create connected communities, and perform daily tasks more efficiently.”

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contacts:
(U.S. for MRI)
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post MRI Software Unveils New Risk Mitigation Offerings for Property Managers at NAA Apartmentalize appeared first on MRI Software.

Achieves Three-Year Revenue Growth of 162%

Solon, Ohio – August 24, 2021 – MRI Software, a global leader in real estate technology, was named to the Inc. 5000 list of fastest growing private companies in the United States for the second year in a row. The list, compiled by Inc. magazine, is regarded as the definitive ranking of the nation’s most successful independent businesses based on revenue growth from 2017 to 2020. MRI Software increased its revenue by 162% during this time.

“This year’s honor holds extra significance for us because 2021 marks MRI’s 50th anniversary,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “As a well-established business that pioneered the field of PropTech five decades ago, we proudly remain laser-focused on growth, innovation, and enabling the technology transformation of the real estate industry. Our inclusion on the Inc. 5000 list reflects these ongoing aims, and we will continue to build on our momentum for the future.”

In 2020 alone, MRI:

• Supported R&D, global expansion, and penetration of key submarkets through its largest investments to date. The investments in affordable, public, and social housing cemented MRI’s status as a technology leader in this sector in North America, EMEA, and APAC. They also demonstrated MRI’s commitment to helping housing providers and governmental entities address the urgent housing crisis, which intensified during the pandemic.
• Increased its staff by more than 30% worldwide.
• Expanded its solution capabilities by introducing AI-powered contract intelligence that enabled commercial landlords and tenants to extract important – but hard to find – lease data. Investments in workplace management facilitated the development of return-to-work strategies for employers across all industries.
• Broadened and deepened the product offerings in the MRI Living suite by adding new capabilities in payments, ID verification, and risk management, all of which rose in importance during the pandemic as property operators accelerated adoption of digital services.
• Expanded the global reach of the Partner Connect Program by adding new partners and dedicated regional resources worldwide. The market response propelled the MRI ecosystem to its highest participation ever – including new partnerships in EMEA and APAC.
• Acquired eight companies, enhancing MRI’s capabilities in housing and lease administration.

Ghilani notes: “A critical component of our success is our open and connected approach to real estate software, which allows our clients to choose the systems that work best for their business, even if that means integrating solutions from other providers or competitors. Awards like this confirm that our strategy, which combines the open and connected approach with in-house innovation, is on target.”

Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at http://www.inc.com/inc5000.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contacts:
(U.S. for MRI)
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post MRI Software Named to Inc. 5000 List of Fastest Growing Private Companies in U.S. for Second Year in a Row appeared first on MRI Software.

Scalable FM software enables real estate owners, operators and occupiers to improve building sustainability, data visibility and mobile connectivity

Solon, Ohio – August 16, 2021 – MRI Software, a global leader in real estate software, announces it has acquired FSI, a UK-based provider of enterprise-class facilities management (FM) software solutions. The addition of FSI’s cloud-based platform bolsters MRI’s overall solution portfolio and enhances the company’s ability to better serve owners, occupiers and contractors by delivering cutting-edge technology to effectively manage and maintain their facilities.

“Facilities management teams play a critical role in making sure offices are running safely and efficiently as people begin returning to workplaces around the globe,” notes Dermot Briody, MRI’s Senior Vice President and Executive Managing Director of EMEA and Occupier Solutions. “This latest acquisition significantly enhances our facilities management capabilities with a comprehensive, modern software solution that helps clients ensure their buildings and campuses are clean, properly equipped and well-maintained for their visitors and employees.”

FSI complements MRI’s globally recognized Integrated Workplace Management System (IWMS) solution and strengthens the company’s position as a PropTech provider that powers the entire workplace. The comprehensive solution will benefit clients in several ways:

• Delivers end-to-end data visibility and IoT connectivity: Connects systems from every part of a building, enabling facilities managers to centralize operational control and gain actionable insights that improve performance, proactively pre-empt costly failures and power smarter buildings.
• Enables a connected, digital-first experience: Offers mobile applications that allow providers to easily manage an on-the-go workforce from anywhere in the world, while also giving occupiers a better experience by being able to input and track service requests.
• Improves sustainability and energy-efficiency: Promotes sustainability by empowering FM teams with the tools to accurately monitor energy consumption across properties and make data-driven adjustments that cut carbon emissions, improve equipment life expectancy and at the same time reduce costs.

John Moriarty, FSI’s Chief Executive Officer and Managing Director, comments: “MRI offers a scale and global reach that will enable us to accelerate growth in our existing markets and new territories. We share MRI’s vision of an open and connected solution set that will empower our clients to speed up digital transformation – the importance of which has become abundantly clear as the COVID-19 crisis has evolved. Becoming part of MRI also means our customers have the opportunity to tap into its broad range of innovative IWMS and property management solutions, which enable organisations of all types to more effectively manage their real estate portfolios and meet today’s business challenges.”

FSI has more than 300 clients around the world, including Europe, North America, Asia Pacific and the Middle East. The company, which was founded in 1990, serves multiple asset classes and industries, including retail, healthcare, education, office, government, logistics and manufacturing. MRI will continue to support FSI users without interruption.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organisations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(North America for MRI)
Rachel Antman
+1 212-362-5837
rachel@saygency.com

The post MRI Software Acquires FSI, a Cloud-Based Facilities Management Solution appeared first on MRI Software.

Toronto-Based Business Augments Lead-to-Lease Offerings for Commercial Property Managers

Solon, OH – July 7, 2021 – MRI Software, a global leader in real estate technology, has acquired Findspace, an intuitive marketing and leasing platform for commercial real estate. Based in Toronto and founded in 2009, Findspace Inc. has a marquee customer base that includes 40% of the top 25 owners and managers in the Canadian market.

Findspace enables clients with portfolios that range from 250,000 to over 45 million square feet to fill open space faster and differentiate their businesses through a modern and easy-to-deploy platform. The solution provides real-time, integrated space listings for websites while supporting marketing efforts with visually appealing branded content and collateral.

“This acquisition significantly enhances our lead-to-lease solution for commercial property managers,” says Saurabh Abhyankar, MRI Software’s chief product officer. “It’s especially timely, given the end of lockdowns and an upswing in leasing activity as businesses reassess their space needs. By adding Findspace to our product offering, we can give our clients immediate access to a robust marketing solution that allows them to address increased demand while standing out in a crowded marketplace.”

MRI’s flagship property management solution in North America, Property Management X, already integrates with Findspace, allowing clients to easily publish data about vacant spaces directly from their back-office system into their property listing website. This tight integration is now available to MRI’s large commercial client base that manages over 20 billion square feet of space across North America.

This latest addition to MRI’s solution portfolio is integral to the company’s vision to help clients in the commercial real estate sector grow and market their business. MRI will leverage its global development capabilities to expand and enhance Findspace’s innovative solutions for leasing and property management professionals.

“In 2020, we joined MRI’s Partner Connect program because the two companies shared an open-and-connected approach,” says Alain Cohen, president and CEO of Findspace. “Like MRI, Findspace has a ‘clients-first’ philosophy that prioritizes flexibility and choice. That philosophy has enabled our clients to create unique branded experiences through every step in the lead-to-lease process.”

He continues: “Now, as part of the MRI team, we can extend this approach to a larger pool of clients while expanding our geographic footprint.”

MRI will continue to provide uninterrupted support to the owners and property managers that use Findspace.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contacts

(North America for MRI)
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post MRI Software Acquires Findspace, an Integrated Marketing Solution for the Commercial Real Estate Market appeared first on MRI Software.

Unified workplace management offering enables businesses to effectively manage the needs of a hybrid workforce while ensuring the safety of employees, visitors and contractors

Solon, Ohio – June 24, 2021 – MRI Software, a global leader in real estate solutions, announces the launch of MRI Workplace Central, a comprehensive solution that empowers businesses to manage the return of their workforce to the office and other workspaces. The workplace management offering allows property and facility managers to gain visibility across all facets of the commercial sites they operate to ensure they are well-run and safe.

“We are proud to bring MRI Workplace Central to market as a comprehensive solution to drive the successful return to work of organizations worldwide,” says Dermot Briody, MRI’s Senior Vice President of Occupier Solutions. “As businesses rethink the future of the workplace and take steps to bring employees back into the office, flexible technology will be required to manage new and changing work arrangements and expectations.”

MRI Workplace Central provides a wide-ranging set of applications to help organizations bring people together as a team while ensuring their wellbeing. Its components include:

• Space planning – to help organizations understand and prepare to meet evolving workspace needs as COVID restrictions are lifted;
• Scheduling/room and desk booking – emerging as a priority for businesses, with 54% of respondents indicating they will be converting to or expanding hot-desking, according to global research conducted by MRI and real estate professional association CoreNet Global;
• Space utilization – ongoing evaluation of space usage, allowing for strategic adjustment as needs change over time;
• Presence management – to track and control the flow of employees, visitors and service providers in and out of offices and other facilities with tools that provide a full view of who is on-site and who is working remotely.

MRI has conducted extensive research and gathered data on what tenants and landlords are doing to prepare for the hybrid office environment and look further into the future. The MRI-CoreNet survey revealed that close to 90% of respondents expect their organizations to allow remote working after the pandemic – a third more than before – while over 70% say the pandemic fundamentally changed their long-term approach to space usage.

Briody notes: “The office remains at the heart of workplace culture, collaboration and engagement, which are key to business results. But realizing the benefits requires balancing hybrid work schedules and adapting to changing regulations and health requirements over time, using the right technologies to do so. We have strategically grown our global workplace management offering in recent years, and MRI Workplace Central represents a milestone in our efforts to deliver flexible solutions to help organizations manage the future of work.”

The launch of MRI Workplace Central incorporates best-in-class technology from two recent acquisitions. Earlier this year, MRI acquired WhosOnLocation, the provider of an integrated cloud-based solution that empowers organizations to address workplace safety and security needs, and Manhattan, the real estate and workplace solutions business formerly owned by Trimble.

MRI will be running a webinar entitled “Create a safe and flexible work environment with MRI Workplace Central” on June 29. Click here to register.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contacts:
(US for MRI)
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post MRI Software Launches Workplace Central to Enable Safe, Flexible and Efficient Return to Work appeared first on MRI Software.

Report by MRI Software and CoreNet Global shows tenants expect changes in space usage post-pandemic while landlords don’t – but both see need for new technology adoption

Solon, Ohio – May 25, 2021 – New research from MRI Software, a global leader in real estate solutions, reveals that 71% of commercial occupiers say the mass shift to remote working during the pandemic has fundamentally changed their long-term approach to space usage, and yet 69% of landlords expect no lasting impact from COVID-19. MRI partnered with CoreNet Global, the leading association for corporate real estate professionals, to survey 200 tenants and 50 landlords across a broad cross-section of industries worldwide. The findings offer insights into key post-pandemic views on the return to work and indicate critical differences in the expectations of commercial tenants and landlords.

The survey report, MRI Software Market Insights: Getting Back to the Office, shows that over half of business occupiers plan to lease less space after the pandemic, yet over half of landlords don’t see their tenants’ requirements changing:

• 56% of occupiers say they will need less space, with the vast majority expecting fewer employees onsite at any one time; whereas 60% of landlords see their tenants leasing the same amount of space, with only 33% projecting a decline;
• None of the tenants surveyed said they would seek more space to enable a lower workplace density, and just 3% anticipate leasing extra capacity to allow for additional collaborative areas once remote workers start coming back to the office.

“Many of the findings were expected but the differences in outlook between commercial occupiers and their landlords were particularly surprising,” says Brian Zrimsek, Industry Principal, MRI Software. “The good news is that both tenants and real estate owners see the benefits of bringing the workforce back into the office. Together, they now have an opportunity to align their approaches and partner to ensure that employees work even more effectively and safely as their companies adapt to new standards, practices and configurations.”

One area where both corporate occupiers and landlords are in clear agreement is on the need to adopt technologies to handle changing requirements as the pandemic abates, with even those confident in current capabilities planning to extend their existing set-ups and/or deploy new workplace management tools. The results show that 83% of occupiers and 64% of landlords plan to adopt new technologies, while 77% of tenants and 68% of building owners/operators intend to expand their current solutions.

Other significant findings include:

• The report confirms the scale of remote working, with 72% of occupiers having fewer than a quarter of their employees onsite during the crisis – and virtually all of those were deemed essential workers;
• Remote working has grown in acceptance, with roughly a third more companies expecting to allow remote working (89%) after the pandemic than before (66%) – a 23-point uptick;
• More remote working will mean different office set-ups for many employees, with 54% of occupiers either converting to or expanding their use of hot-desking and just 20% keeping assigned workstations;
• The impact of these changes is that occupiers are altering their lease strategies, with landlords seeing their tenants: negotiating new terms (63%), breaking leases (50%), seeking shorter renewal periods (44%), and/or letting leases lapse (29%).

Zrimsek concludes: “The pandemic has accelerated technology adoption trends that were already taking place. As employees return to work, both commercial occupiers and landlords realize that PropTech tools will be essential in rethinking workplace management strategies, reassessing lease portfolios, and managing flexible office requirements.”

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contacts:
(US for MRI)
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post New Survey Reveals Need for Commercial Occupiers and Landlords to Get More in Step on the Future of the Office appeared first on MRI Software.

Scalable, cloud-based solution manages lifecycle of c.200 property assets

Sydney, AUSTRALIA – 20 May 2021 – MRI Software, a global leader in real estate software solutions, announces it has won a new contract with Centuria Capital Group, an ASX-300 listed investment property funds manager, to automate the full lifecycle management of about 200 real estate assets in the firm’s $10 billion property portfolio across Australia and New Zealand.

MRI Commercial and Investment Management solutions will be used by Centuria to automate lease administration and accounting and access large volumes of data from multiple sources, including non-financial information, to generate long-term forecasting, property valuations, and fund modelling.

Stephen Wilson, MRI Software Managing Director, Business Development, APAC, said: “2020 taught all of us the importance of being able to respond quickly and confidently to changing market conditions. It’s our privilege to be chosen by Centuria to manage the full lifecycle of their significant property portfolio, and help their executives and managers glean meaningful insights from the volume of data they already have and will continue to generate as they grow.”

Victor Georos, Centuria Head of Portfolio and Asset Management, said: “Centuria has grown exponentially in recent years. Total group assets under management have grown to more than $10 billion today. We now have more than 200 assets under management across our Trans-Tasman platform and we intend to continue growing. This means we require a system that enables us to scale quickly as we evolve. After undertaking an extensive market scan for a property management software solution that can cater for our growth – MRI ticked all the right boxes for us.”

“MRI’s longstanding history in the real estate industry, strong local roots in Australia and New Zealand and understanding of the regional market make it a trusted partner in the Commercial and Investment Management space – and the logical choice to support our business. We look forward to working with Stephen and his team as we expand our platform in 2021, and beyond,” he said.

MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem is used by more than 17,000 enterprise clients across 170 countries. For more information visit mrisoftware.com.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. MRI became one of the first real estate software providers to serve Australia and New Zealand in 1995 and further strengthened its commitment to the region with the acquisitions of Rockend, WhosOnLocation and Palace. For more information, visit mrisoftware.com.

About Centuria Capital Group
Centuria Capital Group (ASX:CNI) is a leading real estate fund manager with more than $10 billion of assets under management. It offers a range of investment opportunities including listed and unlisted real estate funds as well as tax-effective investment bonds. Its drive, allied with in-depth knowledge of these sectors and intimate understanding of its clients, allows Centuria to transform opportunities into meaningful investments. For more information, visit www.centuria.com.au.

Media Contacts

(ANZ)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

(EMEA)
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(US)
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

The post MRI Software wins Centuria Capital contract for its Property Management Software Solution appeared first on MRI Software.

Latest Report from MRI Software Shows Improvements in Strength of Market-Rate Housing While Extending Concerns about Affordable Housing

Solon, Ohio – May 13, 2021 – The latest report from Proptech firm MRI Software (“MRI”) reveals significant differences in key indicators of recovery across multifamily sectors. Of particular note: Rent collections in affordable housing payments lag those of market-rate and public housing, and mobility in affordable and public housing trails that of market-rate housing.

To fully assess the multifamily market’s progress toward recovery, MRI reviewed not only year-over-year and month-over-month statistics, but also compared the first four months of 2021 against a “baseline” of the first four months of 2019, before the pandemic had emerged. The firm’s report on market-rate housing covers one million units, while its report on affordable and public housing covers 1.5 million units.

Highlights of the reports include:

• New lease pricing in market-rate housing in March and April exceeded not only last year’s pricing, but also the pricing of March and April of 2019.
• Traffic in market-rate housing during April reached 32% above the 2019 baseline and above each month of summer 2020.
• Concessions dropped back to the baseline level set in April 2019, but increased significantly in value.
• Despite the mostly positive indicators in market-rate housing, payment performance in April decreased by approximately 1.5% year over year.
• Payment rates in affordable housing in April declined to 88% of the prior year and 73% of the rates in April 2019. Notably, stimulus payments seemed to consistently boost the payment rates.
• Payment rates in public housing continued to outperform rates of 2020 and the 2019 baseline.
• Movement in affordable housing from January – April is slowly progressing toward pre-pandemic norms, but movement in the public housing sector remained flat in the same period.

“The findings on market-rate housing are reassuring, despite the modest reduction in payment rates,” says Brian Zrimsek, Industry Principal, MRI Software. “It seems that we’re headed toward a welcome recovery in this sector, and summer leasing activity should add to the momentum. The eventual lifting of eviction moratoriums will replace residents who are currently not able to afford rent.

“In contrast, the drop in payment performance in the affordable sector is of concern,” he continues. “When eviction moratoriums are lifted, we will see some of these tenants move on. But the lack of movement in public housing raises concerns about where these tenants can go. Both sectors require careful monitoring in the coming months.”

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the Proptech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(U.K.) Platform Communications for MRI
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Progress Toward Recovery Varies Significantly Among Multifamily Sectors in the U.S. appeared first on MRI Software.

London – 6 May 2021 – Leading business and financial adviser Grant Thornton UK LLP has partnered with MRI Software to develop a unique capability that provides contract analytics and insights to the EMEA market.

The agreement means that Grant Thornton will act as a reseller and channel partner for MRI^TM Contract Intelligence powered by Leverton AI^TM, which uses pioneering artificial intelligence technology for data extraction and contract analytics for corporate and legal documents. The combined offering provides a scalable, efficient, and transparent capability that businesses can use to unlock value from existing contracts, either as a direct revenue increase or broader insight to drive process improvement.

The service is a flexible capability with broad potential across a range of industries, particularly affecting those with a high volume of business-to-business contracts that are substantial in value.

Commenting on the agreement, Paul Jefferies, Consulting Partner and Head of Telecommunications at Grant Thornton UK LLP, said:

“We are excited to announce this formal agreement with MRI Software as it will help to unlock the significant commercial value that many of our clients suspect is locked away in their legacy business contracts. We have been working with MRI’s Leverton AI platform for the last two years through several client engagements, and our experience is that we can consistently deliver strong return on investment for clients after a short proof of concept period. MRI Software’s deep learning technology coupled with Grant Thornton’s in-house analytics capability structures and simplifies an otherwise confusing data landscape and provides absolute clarity around contractual billing performance”.

“The market-place for contract analytics has rapidly evolved in the last few years with increased adoption of digital solutions for managing, analysing and assuring legal contracts. This agreement represents an exciting flexible and scalable digital capability that helps organisations unlock contract value.”

Saurabh Abhyankar, Chief Product Officer at MRI Software, added:

“The new agreement between MRI and Grant Thornton empowers organisations to take control of data and leverage it to reduce risk and maximise value for the business. AI-powered technology helps uncover revenue gaps, unnecessary spending and sources of lost revenue, which allows revenue assurance teams to verify that their billing processes match the contract pricing structures. This service will be essential for forward-thinking organisations to protect their business and move forward confidently while navigating change and driving operational efficiencies.”

About Grant Thornton UK LLP
Grant Thornton is one of the world’s leading organisations of independent assurance, tax and advisory firms. Proactive teams use insights, experience and instinct to understand complex issues for privately owned, publicly listed and public sector clients – helping them to find sustainable solutions. More than 56,000 Grant Thornton people across 140 countries are focused on making a difference to clients, colleagues and the communities in which we live and work. We’ve got scale, combined with local market understanding. That means we’re everywhere our clients are, as well as where they want to be. The UK Grant Thornton member firm is led by 190 partners and employs over 4,500 of the profession’s brightest minds. We are a business adviser that helps organisations navigate today’s volatile markets, has a strong focus on quality and delivers insights to succeed. Find out more at www.grantthornton.co.uk @GrantThorntonUK
© 2021 Grant Thornton UK LLP. All rights reserved.

About MRI Software
MRI Software is a leading provider of real estate software solutions that drive innovation and maximize strategic and operational efficiencies. MRI’s AI-powered technology platform coupled with an open and connected ecosystem empowers organizations of all types to leverage high volumes of data to gain insights and identify opportunities for cost savings and increased revenue. MRI has been a trailblazer in the technology industry for over five decades, helping more than two million users worldwide manage real estate, leases, contracts and other aspects of their business. Through leading solutions and a rich partner ecosystem, MRI gives companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contacts:
(US for MRI)
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post Grant Thornton and MRI Software Combine Forces to Offer AI-powered Contract Analytics and Insights Service appeared first on MRI Software.

Leading health food retailer Holland & Barrett has selected MRI Software’s AI-powered platform for the management of its real estate lease portfolio.

With 1,300 stores across the UK, Netherlands, Belgium, China, Hong Kong, India, Saudi Arabia and UAE, Holland & Barrett requires technology to proactively manage international lease requirements and retail complexities. They have opted to move forward with MRI’s connected offering, which is proven across the sector and used by more than 100 retail brands.

The solution leverages the power of machine learning to digitalise lease information, and ensures clean, accurate and reliable data is incorporated into management and reporting processes – including compliance with IFRS 16 lease accounting standards.

Through the MRI Contract Intelligence application, Holland & Barrett can extract, aggregate and cleanse key information buried in hundreds of lease contracts across a variety of languages. The AI-enabled contract repository is then integrated with MRI Horizon, a comprehensive suite of functionality and reporting tools that support specific retail requirements such as retail accounting periods and turnover rent calculations Dashboard insights and sophisticated transaction management workflow also help to inform decision-making and track business processes.

Tom Price, EMEA Sales Manager – Occupier Solutions at MRI Software, said: “I’m delighted to announce the partnership between MRI Software and Holland & Barrett, and to be working with the team to support their strategic objectives. H&B recognises the benefit and criticality of having an end-to-end lease abstraction, lease management and lease accounting solution, with the opportunity to take advantage of other areas of MRI’s comprehensive occupier suite in the future.

“It’s also fantastic that such a reputable organisation has chosen to invest at such an uncertain and challenging time, emphasising the importance and value of a robust platform that delivers short and long-term benefit.”

Stephen Williams, Head of Estates at Holland & Barrett, said: “As our store estate has grown and lease structures become more complex, we have needed a solution to enable us to more efficiently manage our store portfolio. The combination of Contract Intelligence and Horizon provides us with the solution to fully capture all our property and lease information, providing the one version of the truth – and it enables the required detailed business and IFRS16 reporting.”

Learn more about MRI’s powerful AI capabilities for lease abstraction, here.

The post Holland & Barrett selects MRI Software’s AI-powered occupier management solution appeared first on MRI Software.

Latest Report from MRI Software Tracks Effects of COVID-19 on Affordable and Public Housing

Solon, Ohio – April 15, 2021 – Rent collections in both affordable and public housing rose significantly in March, according to the latest report from Proptech firm MRI Software (“MRI”). Payments from tenants in affordable units reached 91% of March 2020, while those from tenants in public housing exceeded the prior year mark, hitting 105%. Comparable levels have not been achieved since June, suggesting a positive impact from the recent round of stimulus payments.

MRI’s report compiles data from more than 1.5 million affordable and public housing units throughout the U.S. between March 2020 and March 2021. Analysis comprises both year-over-year and month-over-month comparisons.

Additional Highlights:

• In the affordable sector, the gap between move-in volumes and move-out volumes (the former outpaces the latter) is starting to close, indicating a return to normalcy. The public sector, in contrast, shows only incremental gains in occupancy.
• Applications, new admissions, and move-out volumes in affordable housing have increased significantly, but not in public housing.

“It seems safe to assume that tenants of affordable and public housing applied recent stimulus payments toward March rent,” Brian Zrimsek, Industry Principal at MRI Software. “Rent continues to be a priority, despite eviction moratoriums.

“But we’re seeing also longer-term signs of recovery along with the short-term boost, at least in the affordable sector,” he adds. “Gains in the job market and the pace of the vaccine rollout are prompting movement of occupants. For the multifamily industry, that means we’re a step closer to equilibrium.”

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(U.K.) Platform Communications for MRI
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Rent Collections in Affordable and Public Housing Rebounded in March; Improvement Likely Tied to Stimulus Payments appeared first on MRI Software.

Close of deal bolsters MRI’s global workplace management offering for real estate owners, operators and occupiers

Solon, Ohio – April 14, 2021 – MRI Software, a global leader in real estate software, announced that it has completed the acquisition of Manhattan, the real estate and workplace solutions business of Trimble (NASDAQ:TRMB). The close of the deal bolsters MRI’s workplace management offering with robust space scheduling, booking and facilities management capabilities, complementing its comprehensive lease accounting and administration solutions for commercial real estate owners, operators and occupiers worldwide.

“We are excited to welcome Manhattan and its powerful range of Integrated Workplace Management System (IWMS) solutions to the MRI family,” says Dermot Briody, MRI’s Senior Vice President of Occupier Solutions. “With many companies rethinking the future of the workplace, flexible technology will be required to manage different ways of working – in some cases, balancing remote, in-office, or hybrid arrangements for employees – to maximize productivity and position the workplace as a driver of future success. MRI is committed to helping our clients keep buildings well-managed, secure and safe for anyone on the property, including landlords, tenants, visitors or service providers. It is more important than ever to offer solutions that promote the benefits of workplace culture and collaboration.”

The Manhattan acquisition extends MRI’s workplace capabilities at a time when many organizations around the world are focusing on returning to the office. As part of MRI, Manhattan clients will gain access to a broader array of applications to manage their lease portfolio, including MRI’s artificial intelligence (AI)-powered lease abstraction technology and comprehensive workplace presence management software offered through its recent acquisition of WhosOnLocation.

“As the COVID-19 pandemic continues to evolve, organizations across the globe see an increased need for agile workplaces and the ability of both owner/operators and corporate occupiers to work together to manage those effectively while ensuring health and safety standards,” Briody adds. “MRI’s recent acquisitions underline our strategy to support everyone involved in commercial property and expand our offering for the global workplace management market.”

In addition to strengthening MRI’s technological footprint, the Manhattan acquisition increases its client base in North America, Europe and Asia Pacific to include more than 3,000 corporate occupiers. Manhattan has employees in the United States, Canada, United Kingdom, India, New Zealand, and Australia. MRI will continue to support Manhattan clients without interruption.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contacts:
(US for MRI)
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post MRI Software Completes Acquisition of Manhattan Real Estate and Workplace Solutions from Trimble appeared first on MRI Software.

Latest Report from MRI Software Tracks Effects of COVID-19 on Market-Rate Housing Throughout the U.S.

Solon, Ohio – April 13, 2021 – Owners and managers of market-rate rental housing have reason to be optimistic, according to the latest report from Proptech firm MRI Software (“MRI”). During the month of March, traffic exceeded the peaks of Summer 2020 while lease pricing continued to improve and the volume and value of concessions dropped substantially,

MRI’s newest report compiles data from more than one million market-rate units (a subset of the total units managed by MRI clients) between March 2020 and March 2021. Analysis includes both year-over-year (YOY) and month-over-month comparisons.

Details and Highlights:

• Traffic exceeded the peak volumes of last summer (typically the busy season), indicating rising demand. Along with the increase in traffic came an increase in application volumes – the highest since July of 2020.
• Lease pricing has stayed consistent over recent months and is nearing the pre-pandemic levels of February 2020.
• Following two months of record highs, concessions dropped significantly – 14% in amount and by 11% in volume.

“These findings inspire optimism at a time when things are already looking up: Unemployment has dropped and the vaccine rollout is progressing rapidly,” says Brian Zrimsek, Industry Principal, MRI Software. “That said, it’s premature to celebrate. I remain concerned about statistics from the NMHC Rent Payment Tracker, which has shown a gradual decline in payments over the past 12 months and a drop of 4.4 points YOY in March.

“Nevertheless, it seems that landlords will be well positioned to capitalize on the traditionally busy summer months. The market’s recovery may be — at long last — in sight.”

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the Proptech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(U.K.) Platform Communications for MRI
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post March Shows Signs of Recovery with Drop in Landlord Concessions and Strengthening Lease Prices appeared first on MRI Software.

The long-term agreement will provide enhanced resources to support the global real estate firm’s award-winning data management, visualization and analytics platform

NEW YORK (April 8, 2021) – Global real estate services firm Savills today announced that it has expanded its global partnership with MRI Software, a worldwide leader in real estate software.

As part of an extended agreement, Savills will expand its integration of MRI’s artificial intelligence-powered data abstraction tool, MRI Contract Intelligence powered by Leverton AI, to include MRI ProLease, a cloud-based solution for lease administration, lease accounting, lease analysis and workplace management. The integrated capabilities will deliver enhanced real estate management applications to clients utilizing Savills award-winning business intelligence platform Knowledge Cubed.

“Corporate occupiers require access to data historically locked away in leases to effectively manage and reevaluate their portfolios,” said Saurabh Abhyankar, MRI Software’s chief product officer. “The expanded integration of Leverton AI automates and simplifies the complex data extraction process, enabling Savills clients to easily access and analyze data from leases, contracts and legal documents.”

Savills and MRI will leverage a jointly developed data model to accelerate document abstraction and structuring for corporate occupiers. The proprietary machine learning algorithm will allow smaller teams to quickly setup digital applications within Knowledge Cubed and highlight actionable insights to enable better management of real estate portfolios.

“By integrating our algorithm within Knowledge Cubed applications, we are able to provide clients an unparalleled speed and scale advantage that helps analyze portfolios in real time with access to the source documents in one click,” said Patrick McGrath, Savills chief information officer and head of client technologies.

The MRI partnership continues Savills ongoing investment in innovative client technologies and data partnerships. Launched in 2016, Knowledge Cubed brings together key technologies (e.g., machine learning, cloud, IoT, big data, mobile apps, cybersecurity, and digital contracts) to help clients better understand and optimize global real estate and human capital investments.

During the last 12 months, Savills expanded and signed new partnerships with key partners such as Matterport, CoStar, and CompStak to further invest in the best-in-class technology and data platform designed for corporate occupiers.

About Savills Inc.
As one of the world’s leading property advisors, Savills services span the globe, with 39,000 experts working across 600 offices in the Americas, Europe, Asia Pacific, Africa and the Middle East. Sharply skilled and fiercely dedicated, the firm’s integrated teams of consultants and brokers are experts in better real estate. With services in tenant representation, workforce and incentives strategy, workplace strategy and occupant experience, project management, and capital markets, Savills has elevated the potential of workplaces around the corner, and around the world, for 160 years and counting.

For more information, please visit Savills.us and follow us on LinkedIn, Twitter, Instagram and Facebook.

Media Contacts:
(Savills)
Michael A. Lassiter (+1 202 624 8539)
mlassiter@savills.us

(US for MRI)
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The post Savills, MRI Software Announce Expanded Partnership to Accelerate AI and Machine Learning Capabilities for Knowledge Cubed appeared first on MRI Software.

Global PropTech company extends its footprint in ANZ with addition of software for regional property managers and agencies

Auckland, New Zealand – 31 March, 2021 – MRI Software, a global leader in real estate software, announces that it has acquired Palace, New Zealand’s market-leading provider of residential property management solutions. The acquisition extends MRI’s offering and market presence in New Zealand while giving Palace and its clients access to the innovation, scale and partnerships of a well-established industry leader.

“Our acquisition of Palace is part of MRI’s strategic global growth plan and a welcome addition to our Asia-Pacific business,” says David Bowie, MRI Software’s Senior Vice President and Managing Director, Asia-Pacific. “Bringing Palace into the MRI fold enhances our ability to serve the New Zealand market by empowering property managers and agencies with solutions that help them keep pace with local reporting and compliance requirements, including the healthy homes standards.”

Founded in 1999 and with offices in Auckland and Wellington, Palace has over 700 clients who use its solutions to manage more than 150,000 properties. Palace’s extensive partner program, which includes more than 40 partnerships and integrations, will offer expanded flexibility and choice for MRI clients in the region. MRI will continue to support, without interruption, the property managers and agents that use Palace.

Michael Abbott, Palace’s Chief Executive Officer, adds: “Palace and MRI are a great fit. Both companies are firmly committed to an open and connected approach that gives clients the flexibility to integrate the solutions that work best for their business. The deal strengthens MRI’s local expertise, while Palace and its clients gain access to additional property and workplace solutions as well as administrative and financial tools for managing wider property portfolios.”

The deal comes on the heels of MRI’s acquisition of Wellington-based WhosOnLocation, further extending MRI’s presence in New Zealand. Since MRI’s August 2019 acquisition of Rockend, the leading residential property management player in Australia, the company has grown its offering in the ANZ region to cover the full scope of solutions across the residential, commercial, investment and occupier sectors.

Clare Capital, a Wellington-based corporate finance advisory firm, acted as the exclusive financial advisor to Palace.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contacts:
(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(US for MRI)
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

The post MRI Software Acquires Palace, New Zealand’s Leading Property Management Solution Provider appeared first on MRI Software.

Latest Report from MRI Software Tracks Effects of COVID-19 on Market-Rate Housing Throughout the U.S.

Solon, Ohio – March 11, 2021 – New lease pricing finally reached the prior year’s levels in February, but concession values remained at historic highs for the second consecutive month, according to the latest report from Proptech firm MRI Software (“MRI”). The newest findings show February values as double those of February 2020, extending the year-over-year (YOY) trend identified in January.

MRI’s newest report compiles data from more than one million market-rate units (a subset of the total units managed by MRI clients) between February 2020 and February 2021. Analysis includes both YOY and month-over-month comparisons.

Additional highlights:

• Move-in volumes outpaced move-outs, continuing a trend that dates back to July.
• Renewal rates are at or above prior year for a third consecutive month.
• Rates of month-to-month leases also exceeded those of the prior year for a third consecutive month.
• Traffic dropped significantly below prior year volumes while application volumes reached a near YOY low.

“I am encouraged by the increase in lease pricing, despite the high concession volumes,” says Brian Zrimsek, Industry Principal, MRI Software. “This jump is notable, given the ongoing uncertainties about vaccination rates and stimulus packages. Of course, those same uncertainties are driving the popularity of month-to-month leases and prompting residents to stay in place.”

He adds: “I am not concerned about the relatively low rates of traffic and applications shown by the February data. Those can be primarily explained by the storms that affected many areas of the U.S. – plus, February is a shorter month.”

“It’s refreshing to identify a trend that has nothing to do with the pandemic,” he concludes. “As we near the one-year anniversary of COVID-19 lockdowns in the U.S., I look forward to the not-too-distant future, when market headwinds will be easier to anticipate and navigate.”

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(U.K.) Platform Communications for MRI
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Lease Pricing Rebounded to Pre-Pandemic Levels in February, but Concessions Remained at Historic Highs appeared first on MRI Software.

PropTech category founder bolsters its workplace management capabilities with addition of integrated set of employee, visitor and contractor management applications

Solon, Ohio – March 4, 2021 – MRI Software, a global leader in real estate software, announces that it has acquired New Zealand-based WhosOnLocation, which provides an integrated solution that empowers organizations to address workplace safety and security needs. An enterprise-class, cloud-based platform with employee, visitor, contractor and emergency management applications, WhosOnLocation extends MRI’s workplace management offering to cover anyone who might have a physical presence on a commercial property, including industries such as manufacturing, services, and education.

“We are excited to welcome WhosOnLocation to the MRI family at a time when ensuring wellbeing and safety in the workplace is more critical than ever,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “The acquisition enhances the comprehensive capabilities of our integrated workplace management solutions to enable the increased business agility organizations need to reimagine their workplaces. WhosOnLocation boosts our ability to support health and security measures, covering both landlords and tenants, as well as the wider community that engages with a property – reducing risk for everyone.”

With the COVID-19 pandemic leading to an increased need for agile workplaces, WhosOnLocation enables organizations to manage presence by tracking who is onsite at a property – or across multiple locations – at any time. The solution brings additional automation and efficiency to workplace safety and security management with arrival notifications, access permissions, emergency and evacuation management, and more. WhosOnLocation’s global client base will benefit from the added resources and innovation that come with being part of a well-established industry leader.

Darren Whittaker-Barnett, WhosOnLocation’s Chief Executive Officer, notes: “MRI offers the scale and global reach we need to accelerate the growth of our business in both our existing markets and new territories. Becoming part of MRI also offers our customers the opportunity to tap into its broad range of innovative workplace management solutions, which enable organizations of all types to more effectively manage their real estate portfolios and meet today’s unique business challenges.”

Used by facilities management teams, property managers and others involved in building operations to manage visitor, employee and service provider presence, WhosOnLocation manages nearly 5,000 facilities for 1,600 customers across 46 countries. Headquartered in Wellington, New Zealand, the company also operates in Australia, the UK, Europe, Canada and the US. MRI will continue to support WhosOnLocation users without interruption.

GrowthPoint Technology Partners, a Silicon Valley-based investment bank, acted as the exclusive financial advisor to WhosOnLocation.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
(ANZ for MRI)
Fiona Tipping (+61 414 764 762)

(EMEA for MRI)
Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(US for MRI)
Rachel Antman
+1 212-362-5837
rachel@saygency.com

The post MRI Software Acquires WhosOnLocation, Adding Global Workplace Safety and Security Offering appeared first on MRI Software.

Global PropTech provider boosts its workplace management offering, enhancing its unique position to serve real estate owners, operators and occupiers

Solon, Ohio – February 17, 2021 – MRI Software, a global leader in real estate software, announces that it has entered into an agreement to acquire Manhattan, the real estate and workplace solutions division of Trimble (NASDAQ:TRMB), based in Sunnyvale, California. The acquisition will extend the range of MRI’s occupier solutions, providing a broader scope of offerings for commercial property owners, operators and tenants worldwide. The transaction is subject to a number of closing conditions and is expected to close in the first half of 2021.

“The world of work has changed fundamentally over the past year, and companies require innovative solutions that enable flexibility for their workplaces and leases,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “The acquisition of Manhattan will bring a well-respected industry leader with a strong heritage into the MRI fold, and our combined workplace management capabilities uniquely position us to serve the needs of owners, operators and tenants across the real estate spectrum.”

The acquisition aligns with the ongoing strategic expansion of MRI’s corporate occupier business, giving clients a 360-degree view of their workplace and simplifying the complexities of managing diverse portfolios. Additionally, the acquisition enhances MRI’s Integrated Workplace Management System (IWMS) offering with robust workplace scheduling and facilities management capabilities, complementing its comprehensive lease accounting and administration offering. Manhattan clients gain access to a broader scope of applications to manage their lease portfolio, including MRI’s artificial intelligence (AI)-powered lease abstraction platform. In addition to strengthening MRI’s technological footprint, the acquisition also bolsters its client base in North America, Europe and Asia Pacific, and the combined company will serve 2,300 corporate occupiers. Manhattan has employees in the United States, United Kingdom, India and Australia.

Suresh Sundaram, General Manager of Trimble Real Estate Solutions, said: “There is a real synergy between Manhattan’s offering and MRI’s occupier solutions that will benefit the clients of both businesses – and indeed any corporate occupier. Manhattan will gain from joining a larger organization committed to investing in innovative real estate technology. Both companies have a tremendous commitment to enabling finance and real estate teams to better manage their lease portfolios while maintaining compliance with global lease accounting standards, including FASB, IASB, and GASB.”

The agreement to acquire Trimble’s real estate division follows the acquisition at the end of January of North Carolina-based AMTdirect, a provider of lease accounting, lease administration and facilities management solutions for corporate occupiers and lessees. Both moves underline MRI’s growth strategy to expand its offerings for the global workplace management market. MRI will continue to support Manhattan clients without interruption.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman
+1 212-362-5837
rachel@saygency.com

(U.K.) Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

The post MRI Software Enters Agreement to Acquire Manhattan Real Estate and Workplace Solutions from Trimble appeared first on MRI Software.

Latest Report from MRI Software Tracks Effects of COVID-19 On Market-Rate Housing Throughout the U.S

Solon, Ohio – February 11, 2021 – Landlords’ efforts to maintain occupancy during COVID-19 led to a significant jump in concession values during January, according to the latest report from Proptech firm MRI Software (“MRI”). The January total far exceeds the values measured during other months of the pandemic, and it is double the total of January 2020.

The firm’s newest report compiles data from more than one million market-rate units (a subset of the total units managed by MRI clients) between January 2020 and January 2021. Analysis includes both year-over-year (YOY) and month-over-month comparisons.

Highlights:

• Landlords offered lower rental pricing in conjunction with the increased concessions. New-lease pricing for terms of 8-14 months decreased by 2% YOY.
• Move-in volumes outpaced move-outs for the sixth month in a row. Move-out volume during January was only 64% of the prior year.
• Rates of card usage for rent payments have decreased since the summer months. In December and January, the rate was 26%. The August rate was 33%.

“These findings are positive,” says Brian Zrimsek, Industry Principal, MRI Software. “They reflect sound strategies by landlords, who want to keep occupancy rates high during this period of economic distress, which will not last forever. And the landlords are achieving their occupancy objectives, as our report shows.”

He continues: “I’m also reassured by the decline in the use of card payments for rent. Although I expect more and more tenants to adopt online and app-based rent payments in the coming months, the summer rates made me concerned that tenants were amassing credit card debt in order to pay rent. My takeaway is that tenants are prioritizing housing but trying to be financially responsible at the same time.”

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(U.K.) Platform Communications for MRI
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Value of Landlord Concessions Reached Pandemic Peak in January And Doubled Year Over Year appeared first on MRI Software.

Proptech Firm Broadens Market Footprint and Increases Scale of Offerings for Corporate Occupiers

Solon, Ohio – January 27, 2021 – MRI Software, a global leader in real estate technology, has acquired AMTdirect (AMT), a North Carolina-based provider of lease accounting, lease administration and facilities management solutions for corporate occupiers and lessees. Clients across a wide range of industries use AMT’s technology to organize and manage their lease portfolios while ensuring compliance with global lease accounting standards, such as FASB, IASB, and GASB.

“Today’s businesses require technology to adapt to the changing nature of work,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “Commercial tenants must efficiently manage their space to provide a safe, flexible experience for employees, while also strategically managing their leases to maintain compliance with new lease accounting standards.”

The acquisition further reinforces MRI’s commitment to the occupier sector and increases its market presence. MRI’s solutions serve the needs of all parties in a building, covering property owners, operators and tenants. The company now serves approximately 2,000 occupier clients worldwide.

Ghilani adds, “We’re excited to welcome AMTdirect to the MRI family. With this acquisition, we’re further increasing the depth of our offering for corporate tenants, while enabling AMT’s clients to take advantage of solutions that complement lease management, such as lease administration, space management, and AI-powered lease abstraction.”

“We are eager to begin this new chapter,” says Jeff Ralyea, CEO of AMTdirect. “MRI is a pioneer in the industry and has a stellar reputation for innovation. As part of MRI, we can give our clients access to a broader variety of tools that will fuel business growth.”

MRI will continue to support AMT users without interruption.

Kirkland & Ellis served as MRI’s legal advisor. AMTdirect was an investment held by Luminate Capital Partners.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organisations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman
+1 212-362-5837
rachel@saygency.com

(U.K.) Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

The post MRI Software Acquires AMTdirect, a Provider of Lease and Facilities Management Solutions appeared first on MRI Software.

Latest Report from MRI Software Tracks Effects of COVID-19 On Market-Rate, Affordable, and Public Housing in the U.S.

Solon, Ohio – January 13, 2021 – Although uncertainty surrounding a stimulus package characterized most of December, rates of collections in affordable and public housing were surprisingly high for the month, with public housing reaching 97% of 2019 rates and affordable housing reaching 83% — the highest level for the latter class since June.  These are key findings of the latest report from Proptech firm MRI Software (“MRI”), which compiles data on one million market-rate units and 1.5 million affordable and public housing units in the U.S.

The December data also showed a continued tightening of occupancy across all asset classes, as move-ins outpaced move-outs for the sixth consecutive month.

Other highlights of the report, which includes both year-over-year (YOY) and month-over-month comparisons, include:

• December lease pricing decreased by 2% YOY in market-rate housing.
• New applications increased significantly YOY in both public and affordable housing, by 56% and 14% respectively. This represents a major shift in direction since the start of the pandemic, after which new applications trailed the numbers of 2019.
• Aggregate concession values for market-rate housing increased by over $6 million YOY.

“We anticipated some of these results because of our involvement in the NMHC’s Rent Payment Tracker,” says Brian Zrimsek, Industry Principal, MRI Software.  “The Tracker’s data, which aligns with our own, reveals a slow erosion of collections in market-rate housing over the course of the pandemic.  Financial pressures are a likely cause, and they may be prompting tenants to seek out less costly alternatives in affordable or public housing, thus increasing demand in these asset classes and decreasing demand for market-rate units.  The decreased demand, in turn, has likely led to lower rents and more concessions from landlords.

“But as the December data shows, tenants in affordable and public housing made great efforts to stay current, despite the early-month uncertainties about a stimulus package,” he continues. “More and more people don’t want to risk eventual eviction, a bad credit rating, or a huge payment in deferred rent. Therefore, tenants have actively changed their circumstances with some downsizing, some consolidating households and some looking to ‘downshift’ to affordable or public housing.”

Zrimsek will discuss the December report, along with overall trends for 2020, during a webinar on January 14^th at 2 p.m. Eastern.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(U.K.) Platform Communications for MRI
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Collections in Affordable Housing Rebound in December; Occupancy Tightens Across All Asset Classes appeared first on MRI Software.

Latest Report from MRI Software Tracks Effects of COVID-19 On Market-Rate Housing Throughout the U.S.

Solon, Ohio – December 10, 2020 – Despite ongoing economic instability and a rebound in new lease-term pricing, occupancy in market-rate housing has remained at higher levels than last year.  The latest report from Proptech firm MRI Software (“MRI”) identifies two reasons for this trend: 1) continued concessions from landlords, which hit a new peak for the pandemic in November, and 2) tenants’ shifts toward smaller units.

The firm’s newest report compiles data from more than one million market-rate units (a subset of the total units managed by MRI clients) in January-November 2020 and January- November 2019. Analysis includes both year-over-year and month-over-month comparisons.

Highlights:

• Data from recent months suggests that many tenants moved from single-bedroom units to studios (in an effort to downsize) or to two-bedroom units (consolidating households to share costs).
• Concession values, as noted earlier, reached a new peak in November.
• New lease-term pricing in November rebounded close to November 2019 rates.
• Move-ins outpaced move-outs for the fifth consecutive month.

“For this report, we decided to break down moves and transfers by unit type, and that has cleared up some pieces of the puzzle,” says Brian Zrimsek, Industry Principal, MRI Software.  “The National Multifamily Housing Council’s Rent Payment Tracker has shown generally strong rates of rent collection since the onset of the pandemic, which, at least initially, could be attributed to government stimulus packages.  But our report indicates that tenants may be moving to smaller or consolidated units for budgetary reasons.”

He adds:  “The ‘downsizing’ trend also helps to explain the recent uptick in new lease-term pricing, which is only partially offset by concessions.

“Overall, the stats tell a positive story.  They demonstrate that tenants are doing their best to be financially responsible.  Meanwhile, the high occupancy rates are helping landlords survive the coming months before an economic recovery takes hold.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(U.K.) Platform Communications for MRI
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Landlord Concessions Rose Again in November; Effects of Apartment ‘Downsizing’ Continue to Impact Market appeared first on MRI Software.

Latest Report from MRI Software Tracks Effects of COVID-19 On Affordable and Public Housing

Solon, Ohio – November 16, 2020 – Rent payments in affordable housing rose to 82% of the prior year during October, the first month since June that the rates exceeded 80% YOY. That is a key finding of the latest report from Proptech firm MRI Software (“MRI”).

MRI’s report compiles data from more than 1.5 million affordable and public housing units throughout the U.S. in January-October 2020 and January-October 2019. Analysis comprises both year-over-year and month-over-month comparisons.

Highlights:

• Collections in public housing dropped slightly. In October they reached only 94% YOY compared to 98% YOY in September.
• Move-outs in affordable housing decreased by 17% YOY, leading to higher occupancy rates for the sector. Move-ins, at 92% of last year’s volume, affected the rates to a lesser extent. Move-ins and move-outs in public housing, meanwhile, have remained steady in recent months – but significantly below 2019 volumes.

“In our previous report, we expressed concern about the collection rates in affordable housing, but the recent stats are reassuring,” says Brian Zrimsek, Industry Principal at MRI Software. “That said, the pandemic will continue to affect trends in both sectors. If a vaccine becomes widely available, we can expect unemployment rates, and, in turn, financial pressures on tenants, to decrease. A stimulus package would also influence collections.

“The situation could change rapidly,” he notes, “and we’ll keep tracking the data on a monthly basis through the end of the year.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(U.K.) Platform Communications for MRI
PJ Chou (+44 20 3219 5837)
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Rent Collection in Affordable Housing Improved in October; Dropped Slightly in Public Housing appeared first on MRI Software.

Latest Report from MRI Software Tracks Effects of COVID-19 On Market-Rate Housing Throughout the U.S.

Solon, Ohio – November 12, 2020 – Landlords who used lease concessions and lower rents to promote occupancy succeeded in their mission in October, according to the latest report from Proptech firm MRI Software (“MRI”).  As renters took advantage of these incentives, move-out volume dropped to 66% of October 2019’s volume.

The firm’s newest report compiles data from more than one million market-rate units (a subset of the total units managed by MRI clients) in January-October 2020 and January-October 2019. Analysis includes both year-over-year and month-over-month comparisons.

Highlights:

• Concession value increased by $6 million, or 42%, YOY, representing a new high for 2020.
• Lease pricing remains depressed, down 2% YOY, but not as low as it was in September (down 3% YOY).
• Move-outs in October 2020 dropped significantly from September 2020.
• Move-in volume neared 2019 rates for the second month.

“Winter has traditionally been the slow leasing season, and the pandemic is adding uncertainty into the equation,” says  Brian Zrimsek, Industry Principal, MRI Software. “That’s why landlords are effectively buying higher occupancy with lower pricing and increased concessions.

“This trend is likely to continue until it becomes clear whether an effective vaccine will be available in the near future and whether a new stimulus package will be enacted,” he notes.  “We will be monitoring the situation carefully.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(U.K.) Platform Communications for MRI
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Multifamily Lease Concessions and Lower Rents Drive Occupancy in October appeared first on MRI Software.

Seasoned software product management executive with deep experience in analytics solutions joins global PropTech leader

Solon, Ohio – November 11, 2020 – MRI Software (“MRI”), a global leader in real estate software solutions, announces the appointment of Saurabh Abhyankar as Chief Product Officer (CPO). In this role, Abhyankar will lead MRI’s global product strategy and drive the continued innovation and evolution of the company’s open and connected software platform for the real estate industry.

Abhyankar has a strong track record over the last 15 years of inventing and bringing new products to market, building and leading product management teams, and driving revenue and adoption. He was most recently at MicroStrategy, holding a number of leadership positions including Chief Product Officer and SVP of Product Management, managing a broad portfolio of analytics products. Previously, he held senior product management leadership roles at SAP, where he worked in the Paris office for 12 years.

“I’m very excited to welcome Saurabh to MRI’s executive team during a time when the strength of our global solutions and our growth are at record levels,” said Patrick Ghilani, CEO of MRI Software. “I’m confident that he will accelerate our industry-leading innovation and interoperability while bringing a renewed focus on easier access and use of smart data. Saurabh brings a strong multinational view, creativity with discipline, and an extremely user-centric mentality that our clients will quickly see in our go-forward product approach.”

Abhyankar added: “Ultimately, technology holds the potential to enrich people’s lives and make the communities in which we all live, work and play smarter and more efficient. By applying innovations in data analytics to MRI’s open and connected platform, we have the opportunity to help our clients around the world improve the financial performance of their business and create more value from their real estate assets.”

The announcement of Abhyankar’s appointment comes on the back of the MRI ‘Ascend Anywhere’ 2020 virtual users conference in October, when the company unveiled a number of key solution innovations and enhancements that empower its clients to transform the way communities live, work and play.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(US for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(UK) Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

The post MRI Software Appoints Saurabh Abhyankar as Chief Product Officer appeared first on MRI Software.

Investment Expands the Reach and Scale of MRI Living Suite

Solon, Ohio – October 29, 2020 – MRI Software, a global leader in real estate technology, has acquired residential property management software Jenark from CoreLogic, Inc. (NYSE: CLGX).

Jenark aligns with MRI’s existing product set for the management of residential property portfolios, addressing the unique needs of community and homeowner associations by facilitating processes, operations, transactions, communications, accounting, administration, and reporting. The solution is used by hundreds of management companies and large self-managed communities, representing half a million residential units within the U.S.

“We’re delighted to welcome Jenark to the family and further extend the footprint of our comprehensive, end-to-end MRI Living suite,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “With this strategic expansion we now serve over 16 million residential units worldwide, and we look forward to bringing the benefits of our scale and innovation to the Jenark users.”

Ghilani adds: “We will continue to serve and support Jenark users without interruption, now and into the future. Furthermore, we will offer added value from the range of connected, complementary MRI and partner applications Jenark clients can leverage.”

The acquisition of Jenark is MRI’s eighth of 2020 to date. It follows the additions of CheckpointID, RentPayment and Lindsey Software to the MRI Living portfolio; lease administration services provider MacMunnis to MRI’s global occupier suite; and Housing Partners, Castleton Technology Plc and Orchard Information Systems, which form the new MRI Social Housing offering in the UK and Ireland.

For the acquisition of Jenark, Dickinson Wright PLLC served as MRI Software’s legal advisor.

Truist Securities served as CoreLogic’s financial advisor.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organisations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman
+1 212-362-5837
rachel@saygency.com

(U.K.) Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

The post MRI Software Acquires Jenark™ from CoreLogic appeared first on MRI Software.

Enhanced offerings and integrations for MRI @Work and MRI Living support market demand for flexible real estate software

Solon, Ohio – October 27, 2020 – MRI Software (“MRI”), a global leader in real estate software solutions, announced a series of key enhancements and innovations across its product portfolio at MRI ‘Ascend Anywhere’ 2020, the first virtual edition of its annual North American users conference, held October 19-21. With more than 1,700 registrants, the conference brought together professionals from across the real estate industry to attend virtual keynotes, presentations and panels by MRI and its technology partners – as well as celebrity guest appearances by TV chef and restauranteur Guy Fieri and Grammy and Academy Award winning artist Jennifer Hudson.

The event, which included the participation of nearly 50 companies from MRI’s extensive partner network, featured sessions across a full range of real estate sectors, covering developments in MRI technology, industry trends and the ways in which the company is working with its clients to address the changing needs of the market due to COVID-19.

“Now, more than ever, we believe that people thrive in well-connected communities,” Patrick Ghilani, MRI’s Chief Executive Officer, said at the event’s opening session. Ghilani noted that through MRI’s open and connected ecosystem, the company is able to provide its 45,000 clients worldwide with a “unified single experience,” giving them “the freedom to transform the way communities live, work and play.” He added: “Our mission has never been more visible and more appropriately executed.”

Product enhancements unveiled at MRI Ascend Anywhere included expanded capabilities, improved integrations and other upgrades aimed at helping clients extend their digital services and successfully adapt to new business challenges that have resulted from the pandemic. The enhancements include:

New MRI @Work innovations that are critical for many companies today, allowing both commercial real estate owners and occupiers to increase business agility and flexibility:

• Full integration of MRI Lease Intelligence with MRI Property Management X to enable commercial landlords to gain insights and visibility into complex lease portfolios by abstracting data, using machine learning and artificial intelligence.
• Expanded managed services offering to meet end-to-end requirements of corporate real estate occupiers (enabled by the MacMunnis acquisition in August), providing lease administration services and lease auditing to enable more efficient management of ongoing lease transactions and optimize lease commitments.
• Tenant communications capabilities to facilitate digital collaboration and communication between commercial landlords and occupiers.

Enhanced MRI Living capabilities that streamline processes and help clients improve digital services for their residents, especially in light of an uptick in demand for these during the pandemic:

• Addition of RentPayment from MRI, which expands MRI’s payment capabilities through the acquisition of RentPayment in September, helping landlords meet increasing demand for flexible payment options – notably electronic payments, which have increased by 21% between January and September 2020 according to the MRI Software Market Insights report.
• Broadened ID verification and fraud prevention technology through CheckpointID, strengthening the multifamily lead-to-lease process with enhanced digital verification for lead management and applicant screening.

Additionally, MRI has seen rapid adoption of Application Gateway, the game-changing point of entry into the firm’s open and connected technology platform. Application Gateway provides streamlined user access between MRI solutions, partner products and other third-party applications to create a more unified single experience. It is available now at no additional cost to all clients using MRI’s Software-as-a-Service platform.

Session highlights at Ascend included: a panel on how MRI clients are using technology to adapt to the pandemic, led by MRI Industry Principal Brian Zrimsek; a retail insights panel examining the impact of COVID-19, emerging industry trends and relationships between landlords and tenants, moderated by Propmodo co-founder and editor Franco Faraudo; and a panel entitled The Future of the Office moderated by MRI Senior Director of Product Management Beth Schwartz and featuring a number of MRI clients and partners in the commercial property space discussing trends in the office sector.

On the lighter side, entertainment included an exclusive and enchanting performance by Hudson in support of the Julian D. King Gift Foundation, which provides stability, support and positive experiences for children of all backgrounds to help them grow to be productive, confident and happy adults. Hudson performed an intimate selection including Spotlight, Love You I Do (from Dreamgirls) and Saving All My Love for You (Tribute to Whitney Houston).

The other big entertainment highlight was a virtual cooking lesson with Fieri, who showed Ghilani how to make his famous Bacon Mac ‘n’ Cheese Burger – featuring both cooking outside from their respective outdoor grills. The cook-off was in aid of Feeding America, a nationwide network of food banks providing hunger relief. Fieri not only endeavored to teach Ghilani how to make a delicious burger as the two chatted, but he also braved the elements as the smoke from the nearby wildfires invaded his California ranch, where he was conducting the cooking demonstration.

Donations to the charities from Ascend participants and MRI totaled $25,000, and MRI will match the full amount.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(US for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(UK) Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

The post MRI Software Announces Key Solution Enhancements at Virtual Users Conference ‘Ascend Anywhere’ appeared first on MRI Software.

Latest Report from MRI Software Reveals Significant Differences in Collection Rates and Admissions

Solon, Ohio – October 15, 2020 – Contrasts between the affordable housing and public housing sectors widened in September, according to the latest report from Proptech firm MRI Software (“MRI”). Most notably, admission volume rebounded in affordable housing and underperformed in public housing, while rent collection continued to lag in affordable housing yet stayed stable in public housing.

MRI’s report compiles data from more than 1.5 million affordable and public housing units throughout the U.S. in January-September 2020 and January-September 2019. Analysis comprises both year-over-year and month-over-month comparisons.

Highlights of the findings include:

• Admission volume for affordable housing nearly reached that of September 2019 after months of comparative underperformance. The September 2020 volumes were 95% for affordable, but only 68% for public, year over year.
• Rent collection in affordable housing remained below 80% of prior year rates for the third consecutive month. The September 2020 rate was 78%. For public housing, the September 2020 rate was 98%.

“Some people lump the affordable and public housing sectors together, but as our data demonstrates, the sectors respond quite differently to economic, political, and social pressures,” says Brian Zrimsek, Industry Principal at MRI Software.  “Public housing is more cushioned because of its larger rental subsidies. That’s why collection rates tend to be higher than in affordable housing, and also why public housing residents are more likely to stay in place.

He adds: “If the stressors from the pandemic persist, we can expect more challenges in affordable collections, and we might start to see a greater impact on public housing.  We will continue to issue these market reports in an effort to help both sectors plan ahead amid great uncertainty.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(U.K.) Platform Communications for MRI
PJ Chou (+44 20 3219 5837)
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Metrics for Affordable Housing and Public Housing Sectors Diverged Further in September appeared first on MRI Software.

Latest Report from MRI Software Tracks Effects of COVID-19 On Market-Rate Housing Throughout the U.S.

Solon, Ohio – October 14, 2020 – Some facets of multifamily leasing stabilized in September while others reflected continued impact from the COVID-19 pandemic, according to the latest report from Proptech firm MRI Software (“MRI”).  Notable metrics include a new peak in concession volume, a rebound in move-in volume, and lower lease pricing compared to September 2019.

The firm’s newest report compiles data from more than one million market-rate units (a subset of the total units managed by MRI clients) in January-September 2020 and January-September 2019. Analysis includes both year-over-year and month-over-month comparisons.

Highlights:

• Move-in volume was only 3% off that of September 2019, after lagging 2019 by approximately 20% since March.
• Concession volume reached a new high of 21% while the average concession value increased by 13% year-over-year.
• Lease pricing was 3% lower than that of September 2019.
• Traffic exceeds prior year volume.
• Many tenants continue to rely on cards for rent. Card payments have increased by 60% compared to January of this year.

“The rise in move-in volume was a pleasant surprise,” says  Brian Zrimsek, Industry Principal, MRI Software. “It indicates potential stabilization in the market. As for the concessions, high volume and value concern me, especially when coupled with lower base rent pricing.”

Zrimsek continues to keep a close eye on card usage by renters, which could indicate either problems with cash flow or, less worryingly, attempts to accrue points.

“Developments in the coming months, such as the election results, negotiations surrounding stimulus packages, and unemployment rates, will affect the multifamily industry at a time when companies are planning next year’s budgets,” Zrimsek observes.  “We hope our reports will help them better navigate the uncertainties.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(U.K.) Platform Communications for MRI
PJ Chou (+44 20 3219 5837)
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Multifamily Move-Ins Rebounded in September As Leasing Concessions Reached New Peak appeared first on MRI Software.

Technology Enables Residential Property Managers To Perform Real-Time Digital ID Checks

Solon, Ohio – October 13, 2020 – MRI Software, a global leader in real estate software solutions, has acquired CheckpointID, LLC, a Carrolton, Texas-based provider of ID verification and fraud prevention technology solutions to the multifamily industry.

The CheckpointID solution validates government-issued domestic and international IDs in real time to protect against rental fraud and increase safety in both guided and self-guided apartment tours. The solution allows leasing agents to quickly perform checks in person or online, and provides an efficient and secure alternative to the traditional paper-based process.

“CheckpointID is a perfect fit for our comprehensive MRI Living suite, which covers every component of the residential leasing cycle,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “The impacts of COVID-19 have only accelerated the need for digitalization, and residential property managers are under increasing pressure to deliver a modern, online customer experience. Our strategic investment in CheckpointID broadens MRI’s digital-first offering, and adds to a growing range of innovative applications that bring greater efficiencies to the day-to-day activities of our users.”

The CheckpointID solution extends MRI’s capabilities for the multifamily market, in particular adding deeper functionality to applications for lead management and resident screening. Driven by increased demand for online services and the shift towards smart and connected communities, the technology also has the potential to support the wider markets and geographies that MRI serves, including public and affordable housing, short-term rentals and student accommodation.

“We’ve enjoyed significant growth since launching in 2017 and have become synonymous with ID verification in the industry,” says Terry Slattery, Chief Executive Officer of CheckpointID. “The investment, innovation and scale that MRI brings will only accelerate our development, and we’re looking forward to the next stages of our exciting journey as part of the MRI family.”

CheckpointID will continue to serve and support its clients without interruption and will continue to offer its ID verification and fraud prevention software solutions to users of all property management systems in the market.

Software Equity Group served as the exclusive financial advisor to CheckpointID.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organisations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.K.) Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(U.S. for MRI)
Rachel Antman
+1 212-362-5837
rachel@saygency.com

The post MRI Software Acquires CheckpointID, Adding ID Verification and Fraud Prevention to Multifamily Offering appeared first on MRI Software.

Under agreement, Priority to continue providing payment infrastructure and processing

Alpharetta, GA and Solon, OH – September 23, 2020 – MRI Software (“MRI”), a global leader in real estate software solutions, and Priority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority”), a leading provider of merchant acquiring, integrated payment software and commercial payment solutions, have completed the previously announced sale and acquisition of Priority’s RentPayment business, which is comprised of the RentPayment.com, StorageRentPayment.com and DuesPayment.com real estate payment brands. Going forward, Priority will provide ongoing payment infrastructure as a service and processing to the new platform at MRI.

“I am thrilled to welcome the pioneering RentPayment solution and team, which bring more than two decades of deep payments expertise and success to the MRI family,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “This acquisition will significantly scale and advance our global payments offering, allowing our MRI Living clients in the residential, affordable, and public housing sectors to benefit from broader payment options and channels. RentPayment will be the go-forward brand in all our global regions and submarkets.”

Founded in 1999, the RentPayment business pioneered real estate payments with the industry’s first comprehensive payment platform for consumer rent. Today, the RentPayment platform serves some 2,900 clients across the U.S. multi-family, single-family, storage and HOA markets. The RentPayment, DuesPayment, and StorageRentPayment brands provide a feature rich suite of payment solutions, including resident rent payments and security deposits via web and mobile to landlords and property managers.

Existing clients of the RentPayment platform will continue to receive uninterrupted service led by Copley Broer and Jamey Rosamond, who helped build the platform within Priority. MRI remains committed to providing and supporting payments solutions for all organizations, regardless of their property management software. Similarly, MRI remains committed to providing choice and flexibility for its clients through an open and connected ecosystem that includes multiple payments partners.

“We are excited to expand our RentPayment partnership with MRI as its payment operations and processing engine,” said Tom Priore, Chairman and Chief Executive Officer of Priority. “The RentPayment business and its investment in renter engagement is a great fit for MRI’s open and flexible platform, and we are eager to focus our resources to drive adoption of the expanding MRI payment offering in the US and globally,” added Priore.”

Kirkland & Ellis LLP acted as MRI Software’s legal counsel for the transaction.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

About Priority Technology Holdings, Inc.
Priority is a leading provider of merchant acquiring, integrated payment software and corporate payment solutions, offering unique product and service capabilities to its merchant network and distribution partners. Priority’s enterprise operates from a purpose-built payments infrastructure that includes tailored customer service offerings and bespoke technology development, allowing the Company to provide end-to-end solutions for payment and payment-adjacent software. Additional information can be found at www.PRTH.com.

MRI Software Media Inquiries:
Rachel Antman
212-362-5837
rachel@saygency.com

Priority Investor and Media Inquiries:
Chris Kettmann
773-497-7575
ckettmann@lincolnchurchilladvisors.com

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services, and other statements identified by words such as “may,” “will,” “should,” “anticipates,” “believes,” “expects,” “plans,” “future,” “intends,” “could,” “estimate,” “predict,” “projects,” “targeting,” “potential” or “contingent,” “guidance,” “anticipates,” “outlook” or words of similar meaning. These forward-looking statements include, but are not limited to, our 2020 outlook and statements regarding our market and growth opportunities. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive risks, trends and uncertainties that could cause actual results to differ materially from those projected, expressed, or implied by such forward-looking statements. These forward-looking statements may include, but are not limited to, statements about the effects of the COVID-19 pandemic on our revenues and financial operating results. Our actual results could differ materially, and potentially adversely, from those discussed or implied herein.

We caution that it is very difficult to predict the impact of known factors, and it is impossible for us to anticipate all factors that could affect our actual results. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. You should evaluate all forward-looking statements made in this press release in the context of the risks and uncertainties disclosed in our SEC filings, including our Annual Report on Form 10-K and our Quarterly Report on Form 10-Q filed with the SEC on March 30, 2020 and August 14, 2020, respectively. These filings are available online at www.sec.gov or www.PRTH.com.

We caution you that the important factors referenced above may not contain all of the factors that are important to you. In addition, we cannot assure you that we will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the consequences we anticipate or affect us or our operations in the way we expect. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. If we do update one or more forward-looking statements, no inference should be made that we will make additional updates with respect to those or other forward-looking statements. We qualify all of our forward-looking statements by these cautionary statements.

The post MRI Software Completes Acquisition of RentPayment™ Business from Priority Technology Holdings, Inc. appeared first on MRI Software.

Collection Rates Higher in Public Housing; Tenants Staying Put in Both Sectors

Solon, Ohio – September 17, 2020 – Rent collection in affordable housing continues to lag as the pandemic wears on, according to the latest report from Proptech firm MRI Software (“MRI”). Year-over-year collection rates in public housing remain comparatively high. Meanwhile, tenants in both sectors are staying in place.

MRI’s report compiles data from more than 1.5 million affordable and public housing units throughout the U.S. in January-August 2020 and January-August 2019. Analysis comprises both year-over-year and month-over-month comparisons.

Highlights of the findings include:

• Rent collection in affordable housing in August 2020 reached only 77% of 2019 levels. The July 2020 rate was 76% of July 2019.
• The rates of rent collection in August 2020 remained relatively strong in public housing, at 94% of August 2019 levels. July 2020’s percentage was 96% of July 2019.
• Tenants are staying in place. Applications, new admission certifications, and move-out certifications in August 2020 were low compared to August 2019. The same was true of July 2020 compared to July 2019.

Brian Zrimsek, Industry Principal at MRI Software, attributes the divergence between rent collection rates in affordable and public housing to the deeper rental subsidies provided in public housing. A wide range of factors will determine whether the collection rates in affordable housing improve: Among them are governmental assistance, vaccine availability, virus control, unemployment, and reopening.

One factor contributing to tenant stasis is lockdowns, especially in larger urban areas, where many affordable and public housing sites are located. Zrimsek notes, however, that applications and moves are down not only in affordable and public housing, but also in conventional housing. “If economic pressures persist across asset classes, we could see increased demand for affordable and public housing from tenants now in market-rate housing and even from homeowners,” he says.

In Zrimsek’s view, there is one certainty amid all of the uncertainty: “The demand for affordable housing will not abate.”

MRI will present the report’s findings in detail during a webinar on September 22 at 2:00pm EDT.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(U.K.) Platform Communications for MRI
PJ Chou (+44 20 3219 5837)
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Rent Collection in Affordable Housing Continues to Lag, Says Latest Report from MRI Software appeared first on MRI Software.

Latest Report from MRI Software Tracks Effects of COVID-19 on Market-Rate Housing Throughout the U.S.

Solon, Ohio – September 14, 2020 – The COVID-19 pandemic continued to present challenges to the multifamily industry in August. That’s the latest assessment from Proptech firm MRI Software (“MRI”), whose data shows a new high for leasing concessions, accompanied by pricing that continues to trail 2019 by 5%.

The firm’s newest report compiles data from more than one million market-rate units (a subset of the total units managed by MRI clients) in January-August 2020 and January-August 2019. Analysis includes both year-over-year and month-over-month comparisons.

Among the most striking findings:

• A 17% increase in average concession value compared to July 2020.
• Lease pricing was 5% lower than in August 2019, extending a trend that emerged in July 2020.
• A full third of electronic payments continue to be card-based.

“At first glance, the statistics may seem alarming, but in terms of future planning they’re actually reassuring,” says Brian Zrimsek, Industry Principal, MRI Software. “On one hand, they reflect the struggles of landlords and property managers in coping with the effects of COVID-19. On the other hand, they reflect best practices in expiration management, which tells us that owner/operators are responding strategically to the challenges. The concessions and pricing we’re seeing today are incentivizing shorter-term leases of 9-, 10- and 11-month terms, and the strategy is working. As a result, owners and property managers are ensuring strong occupancy rates at present while clearing a path to leasing activity during next year’s seasonally busy summer.”

MRI also found that renters are continuing to adopt technology with 50% more prospective renters using online applications compared to August 2019, and 30% more residents using online portals than a year ago. Meanwhile, the use of card payments remained popular, at 33% of electronic payment volumes, representing an increase of 92% compared to January 2020. As Zrimsek has pointed out in previous reports, card usage may signify problems with renters’ cash flow or be a way to gain credit card perks.

Zrimsek notes that MRI will continue to provide market reports in the upcoming months. “Owners and operators have the unenviable task of budgeting for 2021 ahead of them,” Zrimsek remarks. “They can’t simply factor in annual increases to their projections as they might have done in previous years. We hope that our data will help inform their analyses.”

MRI is hosting a webinar on September 22 at 2:00pm EDT to discuss the results of the reports in detail.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(U.K.) Platform Communications for MRI
PJ Chou (+44 20 3219 5837)
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Multifamily Leasing Concessions Reached New High in August; Pricing Pressures and Elevated Card Payment Volumes Continue appeared first on MRI Software.

Under agreement, Priority to continue providing payment infrastructure and processing

Alpharetta, GA and Solon, OH – September 1, 2020 – MRI Software (“MRI”), a global leader in real estate software solutions, and Priority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority”), a leading provider of merchant acquiring, integrated payment software and commercial payment solutions, have entered into a strategic agreement in real estate payments. Under the terms of the agreement, MRI will acquire Priority’s RentPayment business, which is comprised of the RentPayment.com, StorageRentPayment.com and DuesPayment.com real estate payment brands. Going forward, Priority will provide ongoing payment infrastructure as a service and processing to the new platform at MRI.

“The convenience and continuity of accepting multiple payment options has never been more essential to the residential real estate sector than in the current global health environment,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “With this acquisition and partnership with Priority, MRI significantly expands our existing payments solution and scale and further improves both the resident and property manager experience provided by our platform. Additionally, we will now expedite the availability of our online payments solution to include both residential and commercial client offerings in all regions we serve, including Europe, Africa and Asia Pacific.”

Founded in 1999, the RentPayment business pioneered real estate payments with the industry’s first comprehensive payment platform for consumer rent. Today, the RentPayment platform serves some 2,900 clients across the U.S. multi-family, single-family, storage and HOA markets. The RentPayment, DuesPayment, and StorageRentPayment brands provide a feature rich suite of payment solutions, including resident rent payments and security deposits via web and mobile to landlords and property managers.

Existing clients of the RentPayment platform will continue to receive uninterrupted service led by Copley Broer and Jamey Rosamond, who helped build the platform within Priority. MRI remains committed to providing and supporting payments solutions for all organizations, regardless of their property management software. Similarly, MRI remains committed to providing choice and flexibility for its clients through an open and connected ecosystem that includes multiple payments partners. The transaction is expected to close in the third quarter of 2020 and is subject to customary regulatory approval.

“We’re extremely excited about entering into the transaction and burgeoning partnership with MRI,” said Tom Priore, Chairman and Chief Executive Officer of Priority. “This transaction will enable the RentPayment business to accelerate its investment in renter engagement at MRI and importantly maintain operational continuity with Priority as we continue to provide payment operations to the enterprise,” Priore added. “Notably, our relationship with MRI positions Priority to assist in the future growth of MRI’s payments platform. We’re thrilled to partner with an exceptional organization in MRI with its market leading technology platform and its key stakeholders.”

Software Equity Group was Priority’s exclusive advisor and Maynard Cooper & Gale served as Priority’s legal counsel on the transaction.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

About Priority Technology Holdings, Inc.
Priority is a leading provider of merchant acquiring, integrated payment software and corporate payment solutions, offering unique product and service capabilities to its merchant network and distribution partners. Priority’s enterprise operates from a purpose-built payments infrastructure that includes tailored customer service offerings and bespoke technology development, allowing the Company to provide end-to-end solutions for payment and payment-adjacent software. Additional information can be found at www.PRTH.com.

MRI Software Media Inquiries:
Rachel Antman
212-362-5837
rachel@saygency.com

Priority Investor and Media Inquiries:
Chris Kettmann
773-497-7575
ckettmann@lincolnchurchilladvisors.com

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services, and other statements identified by words such as “may,” “will,” “should,” “anticipates,” “believes,” “expects,” “plans,” “future,” “intends,” “could,” “estimate,” “predict,” “projects,” “targeting,” “potential” or “contingent,” “guidance,” “anticipates,” “outlook” or words of similar meaning. These forward-looking statements include, but are not limited to, our 2020 outlook and statements regarding our market and growth opportunities. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive risks, trends and uncertainties that could cause actual results to differ materially from those projected, expressed, or implied by such forward-looking statements. These forward-looking statements may include, but are not limited to, statements about the effects of the COVID-19 pandemic on our revenues and financial operating results. Our actual results could differ materially, and potentially adversely, from those discussed or implied herein.

We caution that it is very difficult to predict the impact of known factors, and it is impossible for us to anticipate all factors that could affect our actual results. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. You should evaluate all forward-looking statements made in this press release in the context of the risks and uncertainties disclosed in our SEC filings, including our Annual Report on Form 10-K and our Quarterly Report on Form 10-Q filed with the SEC on March 30, 2020 and August 14, 2020, respectively. These filings are available online at www.sec.gov or www.PRTH.com.

We caution you that the important factors referenced above may not contain all of the factors that are important to you. In addition, we cannot assure you that we will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the consequences we anticipate or affect us or our operations in the way we expect. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. If we do update one or more forward-looking statements, no inference should be made that we will make additional updates with respect to those or other forward-looking statements. We qualify all of our forward-looking statements by these cautionary statements.

The post MRI Software enters into definitive agreement to acquire RentPayment™ business from Priority Technology Holdings, Inc. appeared first on MRI Software.

PropTech Firm Logs Three-Year Revenue Growth of 161%

Solon, Ohio – August 20, 2020 – MRI Software, a global leader in real estate software solutions, was named to the Inc. 5000 list of fastest-growing private companies in the United States. The list, compiled by Inc. Magazine, is regarded as the definitive ranking of the nation’s most successful independent businesses based on revenue growth from 2016 to 2019. MRI Software increased its revenue by 161% during this time.

“This honor is a testament to the MRI team’s successful execution of a strategic growth plan underpinned by a renewed focus on innovation, expansion into new geographies and adjacent market sectors, and a commitment to building an open and connected ecosystem for real estate software,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “MRI pioneered the real estate software industry nearly 50 years ago and continues to fuel digital transformation for our clients through the efforts of our dedicated employees. We take great pride that our passionate commitment to the sector has been remarkably resilient and that our actions are creating growth and opportunities that set the stage for an even brighter future.”

In the three years from 2016 to 2019, MRI’s growth execution saw its employee base nearly triple to 2,000 professionals and its enterprise client base rise to more than 9,500 clients, representing over three million users in some 170 countries who rely on the company’s applications to run their daily real estate operations.

Notable milestones of recent years include:

• MRI enriched its flagship single experience platform with the launch of MRI Application Gateway, a unified point of entry for all MRI, partner and third-party applications, providing enhanced data integration and cross-functional workflow capabilities through secure, single sign-on access. Integrated reporting and analytics tools boost productivity and improve strategic decision-making as part of an open and connected ecosystem;
• The incorporation of advanced technologies like artificial intelligence and machine learning have been introduced to the MRI suite of products. MRI Contract Intelligence, an AI-powered lease abstraction tool, enables commercial landlords and tenants to extract and strategically leverage lease data;
• MRI Living, the company’s comprehensive residential property management solution, today accounts for nearly half of MRI’s revenue as a result of significant investment in lead management, payments, resident screening, automated communications and multifamily insurance solution offerings;
• MRI dramatically increased its market presence and footprint in the UK, South Africa and Australia, adding some 800 employees and 4,500 enterprise clients in Europe, Africa and the Asia Pacific region;
• MRI’s entrance and/or expansion into key real estate subsectors also drove meaningful growth and, today, MRI is a leading provider of software and services for government-subsidized housing providers, real estate agencies and corporate occupiers globally;
• Membership in MRI’s Partner Connect program increased by 98% between 2016 and 2019 through the addition and expansion of key verticals such as Payments, Payroll, Maintenance and Utilities, Smart Home, and Capital Planning and Project Management, providing greater choice and flexibility for clients to integrate best-fit technologies with their MRI solutions.

MRI Software ranks 2544 on the Inc. 5000 list. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(US for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(UK) Platform Communications for MRI
PJ Chou (+44 20 3219 5837)
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post MRI Software Named to Inc. 5000 List of Fastest-Growing Private Companies appeared first on MRI Software.

Latest Report from MRI Software Tracks Effects of COVID-19 on Affordable and Public Housing Throughout the U.S.

Solon, Ohio – August 17, 2020 – July rent collection in affordable housing reached a new low for 2020 at 76% of July 2019’s rates, while public housing saw a rebound from 78% of 2019’s rates in June to 98% in July. Those are the latest findings from Proptech firm MRI Software (“MRI”), which compared data from more than 1.5 million affordable and public housing units throughout the U.S. in January-July 2020 and January-July 2019.

The results indicate growing challenges for tenants of affordable housing. For comparison, the National Multifamily Housing Council (NMHC)’s Rent Payment Tracker showed only a 2.1-percentage point decrease between rates of rent collections for professionally managed units in late July 2019 and late July 2020. The Tracker compiles data from 11.1 million such units across the country.

“It’s clear that tenants of affordable and public housing are more vulnerable than those in market-rate units at this point in time,” says Brian Zrimsek, Industry Principal, MRI Software. “As the pandemic-driven recession continues, the mixed results we’ve seen over the past two months further underscore the fragile situation of many affordable and public housing tenants.”

Other notable findings of MRI’s report include:

• Tenants in both affordable and public housing are generally staying in place. Applications, move-out certifications, and new admission certifications are far below those of 2019 and trending downward. In contrast, applications and move-outs are rising at market-rate units.
• Work order volumes for affordable and public housing are increasing. Although the volumes haven’t reached 2019 levels, the increases suggest a return to normal operations.

Zrimsek notes that MRI will continue to track trends throughout the pandemic. “The next few weeks will be telling, especially if there is a sustained drop in unemployment assistance,” he concludes.

The full MRI Software Market Insights report on affordable and public housing through July 2020 can be downloaded here.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(US for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(UK) Platform Communications for MRI
PJ Chou (+44 20 3219 5837)
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Rent Collections Dropped in Affordable Housing and Rebounded in Public Housing in July appeared first on MRI Software.

Latest Report from MRI Software Tracks Effects of COVID-19 on Market-Rate Housing Throughout the U.S.

Solon, Ohio – August 11, 2020 – The U.S. multifamily market is experiencing an unusual summer, as the COVID-19 pandemic continues to affect the traditional busy season for leasing. That’s the verdict from Proptech firm MRI Software (“MRI”), whose data shows decreases in lease pricing and increases in concessions along with a steady stream of traffic and wider use of card payments by tenants.

The firm’s latest report compares data from more than one million market-rate units (a subset of the total units managed by MRI clients) in January-July 2020 and January-July 2019.

The good news:

• Traffic remains steady. Although it dropped slightly from June to July, it is still 16% ahead of July 2019 volumes.
• Move-in volumes have increased for the third straight month, although they still lag those of July 2019.
• Service request volumes are nearing those of July 2019, continuing the trend from June and indicating a return to normal operations.

And causes for concern:

• After rising by 5% in June 2020 and regaining prior year levels, lease pricing in July gave that gain back. Furthermore, concessions reached a new high for the year.
• July 2020 applications reached only 81% of July 2019. In contrast, June 2020 applications had reached 97% of June 2019 volumes.
• Card usage for rent payments continued to increase, accounting for one-third of transactions in July.

“The promising signs we highlighted in our previous report on June have abated somewhat,” says Brian Zrimsek, Industry Principal, MRI Software. “Although the high levels of traffic reassure us for the future, the general trend at the moment is for residents to stay in place. That’s why we’re seeing lease pricing drop and concessions rise.

“Last month we also expressed unease about tenants’ use of card payments to pay rent and that continues,” he adds. “If they’re using credit cards rather than debit cards because they don’t have sufficient cash flow, that’s a worrisome development, especially when we’re still unclear about the trajectory of the virus and the next stimulus package.”

The full MRI Software Market Insights report can be downloaded here.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(US for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(UK) Platform Communications for MRI
PJ Chou (+44 20 3219 5837)
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Mixed Results for Multifamily in July: Lease Pricing Down; Concessions and Card Payments Up; Traffic Holding Steady appeared first on MRI Software.

MacMunnis managed services help occupiers automate manual tasks, reduce costs and accelerate time to value from software investments

Solon, Ohio – August 6, 2020 – MRI Software, a global leader in real estate software solutions, has acquired MacMunnis, Inc., an established provider of lease administration solutions to enterprise businesses managing complex lease portfolios. MacMunnis’ services and software expand the MRI @Work suite, broadening and deepening MRI’s ability to serve the end-to-end requirements of commercial real estate occupiers and helping them reduce the time to value from their software investments.

Headquartered in Chicago, Illinois, and working with a number of well-known multinational companies, MacMunnis offers comprehensive cloud-based software for lease administration, as well as related managed services for payment processing, financial audits and lease abstraction. For nearly 30 years, MacMunnis has helped clients more quickly realize the value of their software, improve real estate decision-making and replace burdensome manual processes.

“MacMunnis is a terrific addition to the MRI @Work offering, and we are excited to welcome their experience and expertise into the family,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “Our combined client groups will benefit from even deeper industry knowledge and a world-class services infrastructure that can help CRE leaders drive digital transformation and innovation in their organizations. Together, we look forward to helping real estate occupiers put technology at the heart of their businesses as they take on and overcome today’s market challenges.”

Whether to meet a specific business need or deployed as an Integrated Workplace Management System, the MRI @Work occupier solution set incorporates deep functionality that enables corporate occupiers to more effectively manage their global real estate. It is also leveraged by hundreds of global brands to comply with new lease accounting standards – ASC 842, GASB-87, IFRS 16, and AASB 16. MacMunnis’ clients will have greater access to these capabilities, including AI-powered document analytics, space and workplace solutions, facilities management software and multi-currency lease accounting and lease management systems.

“Being part of MRI will lead to greater scale, development and penetration of our purpose-built solutions for real estate occupiers,” says Brice Weeks, Principal of MacMunnis. “This new platform will be of great benefit to our clients, helping them realize greater value from their current digital investment and adopt new innovations that support their strategic business goals.”

MacMunnis will continue to serve and support its clients without interruption.

American Discovery Capital was the exclusive advisor to MacMunnis in connection with the transaction.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organisations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(UK) Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(US for MRI)
Rachel Antman
+1 212-362-5837
rachel@saygency.com

The post MRI Software Acquires MacMunnis to Expand Offering For Corporate Occupiers appeared first on MRI Software.

Acquisition complements MRI’s social housing solution set with innovative technologies that enhance tenant well-being, satisfaction and safety

London – 5 August, 2020 – MRI Software, a global leader in real estate software solutions, announces the acquisition of Housing Partners, a specialist technology provider for the social housing sector in the UK and Ireland. The strategic acquisition strengthens MRI’s suite of residential property management technology options, MRI Living, adding capabilities from Housing Partners’ Housing Jigsaw, Streetwise, TAIM and HomeSwapper product brands.

Housing Partners’ solutions are used by social housing providers, local authorities and directly by tenants. Its expertise and technology will deepen MRI’s ability to provide people-focused digital solutions, with emphasis on mission-critical issues such as homelessness and tenant safety. As part of the MRI Living offering, these capabilities will drive increased innovation for the benefit of tenants and make it easier for providers to comply with regulation, identify trends and improve services.

“We are proud to welcome Housing Partners to the MRI family, adding an exciting and innovative range of digital solutions to our powerful and interoperable MRI Living residential portfolio,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “This acquisition expands MRI’s ability to facilitate the delivery of front-line services, helping social housing providers bring increased flexibility, mobility, safety and security to communities – building on our commitment to improving the lives and experiences of social housing tenants through the power of technology.”

Housing Partners’ range of solutions includes:

• Housing Jigsaw – a suite of solutions and practical support that enables more effective execution of services by local authorities and housing providers – such as compliance with the Homelessness Reduction Act, case management and accommodation enquiries;
• Streetwise – an incident management system that tracks and monitors anti-social behaviour and other tenant breaches by identifying patterns of escalating behaviours and prioritising risk;
• TAIM – an end-to-end tenancy and income management services solution that can automatically aggregate and manipulate internal and external data to identify residency anomalies and fraud, opportunities for intervention and support, and track and trace tenant debt;
• HomeSwapper – a widely used social housing exchange service providing a platform for tenants to find and enquire about potential relocations – giving greater flexibility and choice to those who, for example, need more space, have a new job or are possibly in crisis and looking for a new start. Over 260,000 homes have already been swapped by tenants wanting to move – saving landlords more than £200 million in voids.

Jonathan Prew, Chief Executive Officer of Housing Partners, said: “Becoming part of MRI Software brings the potential for far greater scalability. MRI’s global experience and technology will enable us to bring the benefits of software to many more people. It will also support our clients in their desire to speed up digital transformation, the need for which has been heightened by the COVID-19 crisis as the social housing sector strives to deliver effective and efficient services remotely.”

Housing Partners will continue to serve its clients without interruption. MRI will continue to support and evolve existing solutions and products.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organisations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(UK) Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(US for MRI)
Rachel Antman
+1 212-362-5837
rachel@saygency.com 

The post MRI Software acquires Housing Partners to broaden front-line digital services for social housing tenants appeared first on MRI Software.

Company’s first virtual users conference showcases the value of MRI Living and MRI @Work for the APAC region, capping a year of major business growth, innovation and acquisitions

Sydney, 30 July 2020 – MRI Software (“MRI”), a global leader in real estate software solutions, announces the Asia-Pacific launch of key solutions and product innovations on the heels of its record-setting MRI Ascend APAC users conference last week, rounding off a year of strong business momentum. Ascend APAC was the company’s first ever virtual users conference, drawing more than 900 registrants and marking its largest event in the region to date. Attendees watched keynotes, presentations and panels by MRI and its technology partners.

The users conference marked the APAC launch of MRI Living and MRI @Work, which encompass the company’s comprehensive solutions for residential and commercial property management. The event took place one year after MRI acquired Rockend, the market-leading provider of residential property and strata management solutions in the Australia-New Zealand PropTech sector, expanding its overall offering and residential footprint in ANZ. Since the acquisition, the number of properties managed using the company’s cloud-based residential software has risen by 34%, representing increased use of the application by new users and existing clients that have grown their portfolios. MRI further bolstered its suite of residential solutions for the region last month when it acquired Castleton Technology, a leading provider of technology solutions for community and social housing providers in Australia.

David Bowie, MRI’s Senior Vice President and Managing Director for Asia Pacific, commented: “This has been an exciting year for everyone at MRI in APAC. We have seen record growth and innovation as we have extended our range of solutions and market reach. Having a hugely successful virtual Ascend APAC conference underlined the tremendous momentum the business is generating in the region and provided an opportunity for us to share insights and collaborate with clients and partners to shape the future of PropTech throughout the region.”

The APAC product launches and enhancements unveiled by MRI include:

• MRI Lease Intelligence – an AI-powered lease abstraction solution that enables commercial landlords and occupiers to analyse lease documents to gain insights while increasing accuracy, transparency and auditability of lease data;
• MRI ProLease – a suite of workplace management and lease administration, accounting and analysis solutions that enable corporate occupiers to manage property and equipment leases efficiently while meeting new global lease accounting standards;
• MRI Property Connect – a new product in the MRI Living suite of residential solutions that allows tenants to view invoices, payments, inspection schedules and more through a self-service app, while enabling property managers to more effectively manage maintenance requests and communicate with residents;
• MRI Maintenance Plus – an integrated maintenance application that brings all information in the maintenance workflow to one place, so that essential information is never lost and all communication can be conducted through the platform;
• MRI Property Tree – the leading cloud-based residential property management solution in ANZ now offers an enhanced user experience and expanded functionality, including:
• • new Profile Summary pages to speed up the use of critical data,
  • electronic signature capabilities through MRI Secure Sign,
  • and Partner Gateway, which gives Property Tree users access to the MRI Partner ecosystem with just a few clicks;
• Strata Master – enhanced Strata Owner and Committee Member portal to enable 24/7 access to information on finances, meetings, maintenance and more online.

During Ascend APAC, the company also revealed that it is bringing together the MRI commercial and investment solutions in the region with the residential solutions from Rockend and unifying them under the MRI brand. The combined offering is now used to manage more than 90,000 commercial lease units, 50% of all professionally managed residential rental properties and 35% of all strata lots in ANZ.

MRI was also named this month the winner of a Bronze Stevie® Award in the Large Computer Software Company of the Year category in the seventh annual Stevies in Asia Pacific. The Stevie Awards are considered to be the world’s premier business awards, conferring recognition for achievement in programs such as The International Business Awards® for 18 years.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organisations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(UK) Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(US for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

The post MRI Software Launches New Residential and Commercial Solutions for APAC as it Announces Record Ascend Users Conference appeared first on MRI Software.

Latest Reports from MRI Software Track Effects of COVID-19 on Market-Rate, Affordable, and Public Housing Throughout the U.S.

Solon, Ohio – July 22, 2020 – Rental pricing at market-rate properties increased in June, reflecting low turnover at multifamily units across asset classes and growing demand for market-rate units, according to the latest reports from MRI Software (“MRI”), a global leader in real estate software solutions.

The firm compared data from more than one million market-rate units and 1.5 million affordable and public housing units throughout the U.S. in February-June 2020 and February-June 2019. Key findings include:

• Rise in lease pricing at market-rate properties: Lease pricing in June recovered from a 5% decrease in May, nearing 2019 levels. This trend reflects 1) the tightening supply of units as tenants across all asset classes stay put; and 2) the jump in traffic volume at market-rate properties (18% over June 2019).
• Continued increase in usage of card payments among residents of market-rate units (up 78% in June as compared to February). MRI attributes the increase to one of two factors: credit card fee waivers from landlords or residents’ struggles with cash flow.
• Significant variation in work orders across asset classes. Market-rate properties saw a rebound of service requests (back to 2019 levels), indicating a return to normal maintenance operations.  In contrast, service requests at affordable and public housing comprised only 75% and 50% of the prior year, respectively.

Although some of the data points suggest the beginning of a recovery, Brian Zrimsek, Industry Principal, MRI Software, expressed a few reservations. For example, he views the increase in credit card payments among residents of market-rate units as cause for concern: “Residents may be amassing credit card debt in order to pay rent. This is especially worrisome given the coming expiration of enhanced employment benefits, along with the rise in COVID-19 cases in major multifamily markets across the country, which could lead to renewed shutdowns and more unemployment.”

He concludes: “Governmental policies that protect individuals as well as businesses will help determine whether we encounter a perfect storm or a situation where landlords and tenants can keep themselves afloat throughout the pandemic,” he continues. “In the interim, analysis of data can inform decision-making.”

Both Market Insights reports can be downloaded from MRI’s website:

• Impact of COVID-19 on Multifamily (market-rate)
• Impact of COVID-19 on Affordable and Public Housing

MRI will discuss the findings in more detail during a webinar on Thursday, July 23 at 2 p.m. EDT, featuring guests from AvidXchange, Conservice, HappyCo, and FCO, all MRI partners.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
(US for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(UK) Platform Communications for MRI
PJ Chou (+44 20 3219 5837)
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Low Turnover Persists in Multifamily Units Across Asset Classes, Rent Rebounds in Market-Rate Housing appeared first on MRI Software.

Winners to Be Celebrated During Virtual Event on 22 September

Sydney – 17 July 2020 – MRI Software (“MRI”), a global leader in real estate software solutions, was named the winner of a Bronze Stevie® Award in the Large Computer Software Company of the Year category in the seventh annual Asia-Pacific Stevie Awards.

The Asia-Pacific Stevie Awards are the only business awards program to recognize innovation in the workplace in all 29 nations of the Asia-Pacific region. The Stevie Awards are widely considered to be the world’s premier business awards, conferring recognition for achievement in programs such as The International Business Awards® for 18 years.

Nicknamed the Stevies for the Greek word for “crowned,” the winners will be celebrated during a virtual (online) awards ceremony on Tuesday, 22 September.

“We’re thrilled that MRI Software’s growth and success in the Asia-Pacific region has been recognized by this prestigious organization,” said David Bowie, Senior Vice President and Managing Director, Asia-Pacific, MRI Software. The company’s 2020 Stevie® Award win comes after a record year for MRI. In 2019, the real estate software company significantly expanded its product offerings in the APAC region, and today, its commercial, residential, and real estate investment software is used to manage more than 90,000 commercial lease units and over 62 million square meters of property.

Gold, Silver and Bronze Stevie Award winners were determined by the average scores of more than 100 executives around the world acting as judges in May and June.

“We are delighted that the seventh edition of the Asia-Pacific Stevie Awards attracted so many impressive nominations,” said Stevie Awards president Maggie Gallagher. “This year’s winning nominations are testament to the resiliency and innovation of organizations in the region, many of which continue to succeed despite the challenges of the COVID-19 pandemic. Although we are disappointed that we cannot stage the in-person awards banquet we had planned for Hanoi, Vietnam this year, we look forward to celebrating many of this year’s winners during our virtual awards ceremony on 22 September.”

Details about the Asia-Pacific Stevie Awards and the 22 September awards ceremony, and the list of Stevie Award winners, are available at http://Asia.Stevieawards.com.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

About the Stevie® Awards
Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.

Sponsors and partners of the 2020 Asia-Pacific Stevie Awards include Adobo Magazine, BRComm, PR Newswire Asia, and the Korea Business Communicators Association.

MEDIA CONTACTS:
Hugh Filman, Zoe Mumba or PJ Chou
mri@platformcomms.com
+44 20-7486-4900

Rachel Antman
rachel@saygency.com
+1 212-362-5837

The post MRI Software Wins Stevie® Award in 2020 Asia-Pacific Stevie Awards appeared first on MRI Software.

Names Scott Bartlett as VP of Occupier Solutions and Sean Slack as VP of Partnerships

Solon, Ohio – July 6, 2020 – MRI Software (“MRI”), a global leader in real estate software solutions, has appointed two technology veterans to lead key initiatives at the firm: The new joiners are Scott Bartlett, Vice President of Occupier Solutions; and Sean Slack, Vice President of Partnerships.

Bartlett is responsible for developing and managing the company’s suite of integrated workplace management solutions (IWMS), which help corporate occupiers manage their real estate leases and optimize their workplace. Slack is refining MRI’s global partner strategy and leading the team that manages the firm’s extensive partner ecosystem, which encompasses technology, solutions, product, consulting, and channel relationships.

Both executives have extensive experience in technology. Bartlett has held leadership positions in high-profile SaaS companies, including Microsoft, Oracle, Autodesk, and Accruent. Over the course of his career, he has lived and worked in Brazil, Venezuela, and Switzerland, in addition to the U.S.

Most recently, Slack served as the Vice President of Global Alliances and Channels for Teradata Corporation, a cloud data and analytics company based in Dayton, Ohio. He has also held senior roles at Wire One Communications and NCR Corporation.

“Scott and Sean have joined us during a period of major expansion,” says Patrick Ghilani, CEO of MRI Software. “Our division of Occupier Services has been growing rapidly since our 2019 acquisition of ProLease. At this time, we already have 1,200 occupier clients and we are working hard to address rising customer demand. Workplace management, Scott’s focus, has never been more critical than today, when businesses are evaluating their changing needs and use of space as a result of COVID-19.

“Our partnership program has long been an integral component of our open-and-connected strategy,” Ghilani continues. “Under Sean’s direction, we will extend the program’s reach into new geographies and expand our offerings to provide even greater freedom and flexibility to our clients. The ability to select the solutions that work best for their business and use them in a single experience allows clients to remain agile and rapidly adapt to change in an uncertain economic environment.

“We feel fortunate to have Scott and Sean on the team,” he concludes. “We think our clients will see tremendous benefit as well.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(US for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(UK) Platform Communications for MRI
PJ Chou (+44 20 3219 5837)
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post MRI Software Appoints Technology Veterans to Address Demand for Occupier Solutions and to Expand Partnership Program appeared first on MRI Software.

Behavior Patterns Similar to Those of Market-Rate Tenants

Solon, Ohio – June 23, 2020 – Although COVID-19 has had an outsized economic impact on residents of public and affordable housing, it has had minimal impact to date on rent payments or move-outs, according to a new report by MRI Software (“MRI”), a global leader in real estate software solutions.

The report, which compares data from more than 1.5 million active affordable and public housing units in February-May 2020 and February-May 2019, revealed patterns similar to those highlighted in MRI’s recent report on the conventional multifamily sector and the National Multifamily Housing Council’s Rent Payment Tracker.

Notable findings include:

• Stable rates of rent payments: These are close to pre-pandemic rates, and there has been little change year over year. In May 2020, rates of payments by residents of public housing dropped only 2% from May 2019. For residents of affordable housing, which serves a relatively higher income group, rent payments declined 10% year over year for May, while improving 3% from pre-pandemic levels in February 2020.

  (For comparison: The NMHC’s Rent Payment Tracker showed that 89% of market-rate households had paid June rent as of June 13, 2020, a 0.1 percent increase from the share who paid rent by June 13, 2019.)

• Low turnover: Over the course of the pandemic, there has been a significant decline in applications, new admission certifications, and move-out certifications compared to the same period in 2019. The decrease for all three metrics reached nearly 40% in public housing and similarly ranges between 30% and 40% in affordable housing.

  (For comparison: MRI’s report on the conventional multifamily sector showed a drop of 21% in move-ins to market-rate apartments between February-May 2020 and February-May 2019.)

The full Market Insights Report on Affordable and Public Housing can be downloaded here.

“We expected to see a less positive picture in the affordable and public housing sectors than in the conventional sector given the seemingly more acute impact of the pandemic on this population, but the trends are surprisingly similar, says Brian Zrimsek, Industry Principal, MRI Software. “Like tenants of market-rate units, tenants of affordable and public housing units seem to be staying in place while also prioritizing rent over other expenses.”

Zrimsek warns that the situation could change in the near future without a new stimulus package or an extension of enhanced unemployment benefits. “The labor market heavily influences the real estate market,” he notes. “The real estate industry is facing uncharted waters as a result of the scale of the impact of COVID-19. To date, rental payments and occupancy rates have remained high due to enhanced unemployment benefits and eviction moratoriums. As businesses reopen and safety nets are removed, then we will see where the rocks really are.”

Zrimsek will discuss the report and trends in both sectors during a webinar on Thursday, June 25 at 2 p.m. EDT along with special guests from Nexus, G5, Landlord Web Solutions (LWS), ServusConnect, and Zego.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(US for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(UK) Platform Communications for MRI
PJ Chou (+44 20 3219 5837)
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Tenants in Public and Affordable Housing Paying Rent, Staying Put During COVID-19 appeared first on MRI Software.

MRI Software’s Market Insights Report Tracks Recent Effects of COVID-19 on U.S. Multifamily Industry

Solon, Ohio – June 15, 2020 – The COVID-19 pandemic continued to impact the U.S. multifamily market in May, reflected in lower lease pricing, expanded use of credit card payments, increasing traffic and a tendency among residents to stay put, according to MRI Software (“MRI”), a global leader in real estate software solutions.

The firm’s latest report compares data from more than one million market-rate units (a subset of the total units managed by MRI clients) in February-May 2020 and February-May 2019.

Key findings, which will be discussed in a webinar on Thursday, June 25 at 2 p.m. EDT, include:

• Lower prices: Pricing for new leases of 8-14 months decreased by 5% in May 2020 compared to May 2019. Last month’s pricing is also 7% lower than that of February 2020.
• Traffic is rebounding, but applications and move-ins are not: Traffic year-to-date has recovered to 101% of the same period in 2019, yet renters are generally staying in place at a greater rate compared to 2019.
• Wider use of credit cards for rent payments: Card usage in May was 58% greater than that of February 2020.
• Increase in 12-month leases: New 12-month leases were up 12% in volume in May 2020 compared with May 2019, and 12-month renewals were 7.4% higher in volume year-over-year.

“Some of these findings are expected in the face of uncertainty and recessionary thinking,” says Brian Zrimsek, Industry Principal, MRI Software. “And while we applaud the use of electronic payments, which bring convenience to renters and landlords alike, the use of credit cards could signal increased risks if residents are paying with cards because of restricted cash flows as opposed to a desire to accumulate reward points. Many landlords have waived the fees for credit card usage, so it’s difficult to know the motivations for this behavior change.

“Other findings are more encouraging,” he continues. “Although many residents are choosing to stay where they are, the rise in traffic indicates that moves and applications could increase as the economy stabilizes. And the increase in 12-month leases shows that landlords are thinking strategically, ensuring that lease terminations coincide with what will likely be a busy season in 2021.”

The full report can be downloaded here.

Zrimsek notes that rates of unemployment and the government’s response, e.g., enhanced unemployment benefits and stimulus packages, will play a major role in future market developments. Recent data from the National Multifamily Housing Council’s Rent Payment Tracker continues to be positive: 80.8% of apartment households had paid June rent as of June 6, 2020 – only a 0.7-percentage point decrease from June 6, 2019.

“Real estate executives talk about ‘unprecedented times’ and ‘unchartered waters’ and how hard it is to make informed predictions about market developments,” Zrimsek adds. “That’s why data and analysis are so important. The more indicators we track; the more tools we’re giving industry decision-makers as they position themselves for a recovery.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(US for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(UK) Platform Communications for MRI
PJ Chou (+44 20 3219 5837)
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Latest Multifamily Data Shows Rents Falling, Card Payments Rising, and Little Turnover Despite Increase in Traffic appeared first on MRI Software.

Acquisition of social housing technology specialist extends MRI’s residential market capabilities, complementing the company’s global solution set

London – 8 June, 2020 – MRI Software, a global leader in real estate software solutions, has completed its acquisition of Castleton Technology Plc, a leading provider of specialist software and services for the social housing sector, after receiving shareholder approval. MRI’s acquisition of Castleton, along with that of Orchard Information Systems in March, extends its offering in the social housing market in the UK, Ireland, and Australia. The combination boosts MRI’s ability to empower social housing providers to adopt digital innovations and customer-centric technologies, while accelerating the development of cloud-based solutions for the sector.

“The acquisition of Castleton is an important step in our drive to deliver greater scale and broaden our offering in the UK housing sector,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “The combination of Castleton and Orchard also extends our comprehensive residential market proposition, MRI Living, and brings together invaluable industry experience and expertise to drive further innovation and accelerate the delivery of new advancements to social/affordable housing operators and residential property managers in multiple regions across the globe.”

Social housing providers in the UK, Ireland and Australia employ Castleton’s solutions to enhance customer service and business management – from building repairs and document management to customer relationship management and payment collection. As a PropTech category pioneer, MRI is constantly looking for ways to promote and deliver web-based capabilities and innovative technologies that enable its clients to keep pace with real estate market trends, such as today’s increasing focus on the resident experience in property management.

The acquisition enhances MRI’s ability to provide solutions across a range of asset classes and portfolios, both residential and mixed use – covering everything from back-office elements that include property management, facilities management and accounting to front-end functions such as customer engagement, self-service maintenance requests and automated payments. MRI’s ecosystem of integrated products and applications enables residential operators to select the best option for their unique business requirements and better manage every aspect of the resident life cycle.

“Joining the MRI family is a great opportunity for Castleton and our clients, providing us with the breadth and global expertise to move to the next stage in our growth and evolution,” said Dean Dickinson, Castleton Technology’s Chief Executive Officer. “MRI will build on Castleton’s capabilities and we’ll be able to leverage our combined resources to continue addressing the varying needs of the social housing sector in the regions we serve.”

The acquisition was unanimously approved by the boards of MRI and Castleton before receiving shareholder approval. Castleton will continue to serve its clients, as usual, without interruption.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organisations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(UK) Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(US for MRI)
Rachel Antman
+1 212-362-5837
rachel@saygency.com

The post MRI Software completes acquisition of Castleton Technology Plc to expand social housing offering in the UK and beyond appeared first on MRI Software.

Lowes Manhattan, an Australian and family owned clothing retailer have selected MRI Software’s ProLease solution to manage the leases of their 200 stores nationwide. With upcoming IFRS 16 and AASB 16 financial regulations taking effect this year, Lowes needed a solution to help maintain compliance with the new lease accounting standards and simplify business critical calculations. MRI ProLease offers accounting modules that have been developed and tested in consultation with members of the FASB and IFRS boards, to help businesses thrive through these changes.

Jim Kondonis, Chief Financial Officer at Lowes Manhattan, said: “The comprehensive capitalisation schedules within MRI ProLease allow us to hand over our lease liability reports to our auditors with confidence, so we can focus our time on revenue generating projects. We believe MRI ProLease to be the most robust platform available for the changing needs of our business.”

Richard Exley, Sales Director ANZ at MRI Software, said: “We are thrilled to deliver MRI ProLease to such a recognisable Australian brand like Lowes Manhattan. We are excited to provide the lease compliance and accounting tools they require as we near the changes to financial regulations taking effect this year.”

As a proud Australian icon, Lowes continues to offer well-made clothing at affordable prices. The company has grown from humble beginnings in 1898 to over 200 stores nationwide whilst still being 100% Australia and family owned. Today, Lowes offers much more than just menswear, with many products both online or at a store near you.

MRI ProLease serves more than 800 clients across 40 industries, including real estate, retail, healthcare, government and education. Clients rely on MRI ProLease to easily track their real estate leases, equipment leases and workplace data, as well for compliance with the new lease accounting standards AASB 16 and IFRS 16. MRI ProLease is a solution offered by MRI Software, a global leader in real estate software solutions that provides innovative technology and services for real estate owners, operators, occupiers, and investors.

The post Australian Retail Icon Lowes Selects MRI ProLease to Manage National Lease Portfolio appeared first on MRI Software.

Report comparing Feb-April 2020 with Feb-April 2019 uncovers notable trends in leasing, operations, and renter behavior

Solon, Ohio – May 14, 2020 – The COVID-19 crisis has prompted substantial changes to leasing activity, operations, and renter behavior within the U.S. multifamily market, according to a new report from MRI Software (“MRI”), a global leader in real estate software solutions.

The report, which compares data from more than one million active units (a subset of the total units managed by MRI clients) in February-April 2020 and February-April 2019, illuminates significant effects of the crisis, such as reductions in demand and pricing and a rise in concessions.

Key findings, which will be discussed in a webinar at 2 p.m. EDT today, include:

• Less demand, less turnover: a 4% increase in renewals and a 15% reduction in vacancy rates between March 15-April 31, 2020 compared to the same period in 2019. Furthermore, new rental applications decreased 29% from March 22 to April 19, 2020, before improving but remaining 11% below prior year levels at the end of April.
• Lower prices: pricing for new 12-month leases decreased 2% in April 2020 compared to the previous month, while landlord concession volume increased by 53% year over year.
• Longer leases: A 3% increase in 12-month leases in April 2020 compared to April 2019.
• A shift to online payments: A 12% increase in electronic payment volume in April 2020 compared to February 2020.
• Fewer service requests: A 56% decrease in resident service requests in April 2020 compared to the prior rolling 12-month average.

MRI’s Market Insights team is also collaborating with the National Multifamily Housing Council on its Rent Payment Tracker. The most recent report showed a decrease of less than 2% in the rental payment rate during May 1-6, 2020 compared to May 1-6, 2019.

“Our report supplements the Rent Payment Tracker to provide a clear picture of overall multifamily leasing activity and the ways residents and landlords are responding to the COVID-19 crisis,” says Brian Zrimsek, Industry Principal, MRI Software. “We’re seeing greater numbers of residents staying in place compared to a year ago, although they’re still shopping around (remotely, for the most part). Landlords, meanwhile, are preparing for a softer market by offering more concessions and reducing rents. Their focus is less on increasing revenue and more on maintaining occupancy levels.”

He adds: “On a more qualitative basis, we’ve been talking to many landlords and property managers who are displaying flexibility and a strong willingness to negotiate. This approach encompasses not only lease terms, but also payment terms.”

Zrimsek notes that the report’s findings on payment modes and property management met the expectations of the Insights Team. “Electronic payments are growing in popularity,” he remarks. “Initially, residents chose this option for safety reasons, but they’re now seeing just how convenient it is. This trend should persist when the crisis is over.

“We also anticipated the significant decrease in service requests as properties focused on emergencies – again, with safety the primary concern,” he continues. “We even added a feature to MRI’s resident portal that sets expectations as to what qualifies as an emergency and that allows managers to gather important information about internal unit conditions.”

The full report can be downloaded here. MRI’s Market Insights Team intends to produce additional reports in the upcoming months. As Zrimsek comments: “Our objective is to support the real estate industry during the COVID-19 crisis. Data analysis plays a key role in helping all of us make the right decisions and cope with these unprecedented challenges.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(US for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(UK) Platform Communications for MRI
PJ Chou (+44 20 3219 5837)
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

The post Data from MRI Software Reveals Impacts of COVID-19 on U.S. Multifamily Market appeared first on MRI Software.

MZA Associates Corporation (MZA) has purchased specialist software from MRI Software (MRI), to improve the fixed asset accounting and tracking of its $1.7 million asset base and to ensure greater asset transparency and accountability across the entire organization.

With more than 80 employees, MZA Associates Corporation is a world leader in the modeling, analysis, design, development, integration, and testing of High Energy Laser (HEL) and advanced optical systems. Headquartered in Albuquerque, New Mexico, and with offices in Dayton, Ohio, MZA provides research and development services to defense and aerospace customers in support of advanced beam control systems, atmospheric characterization, and optical systems engineering.

Steve Rehnberg, Chief Financial Officer at MZA Associates Corporation, was instrumental in the decision to update the organization’s fixed asset management with MRI’s solution.  Discussing his choice, he comments, “We evaluated a couple of other systems but were immediately impressed with the feature rich and intuitive nature of the MRI software. Ease of use was high on our agenda and the MRI solution surpassed all others in this area.”

MRI’s software will replace MZA’s legacy fixed asset system which no longer offers the on-premise deployment required. As MRI provides cloud/SaaS as well as on-premise installation options it was able to flexibly meet requirements.

Going forward, MZA will manage its 300+ assets consisting largely of IT servers and equipment, laptops, furniture, and vehicles on MRI’s fixed asset register. It will provide the organization with the ability to retrieve individual asset records tailored to specific preferences and record detailed information on each asset including purchase cost and date, department, cost center, depreciation rule, and grant value. Rehnberg comments, “The MRI system is very comprehensive and offers optimum flexibility with user-definable fields and description lines, as well as validated pick lists making data entry easy while minimizing errors.”

Of particular importance to MZA, is having the capability to calculate depreciation for any period or range of periods across multiple books as well as the option to have user defined methods. Rehnberg explains, “It was essential that the new system allowed us to continue calculating periodic depreciation and mortization and MRI’s software meets that requirement. The detailed level of reporting within the system will also accelerate our month and year end close down while improving statutory compliance.”

MRI’s system will also facilitate the tracking of government furnished equipment (GFE) and contractor acquired equipment (CAE), a key requirement in ensuring that the organization complies with all necessary regulatory requirements.

Rehnberg concludes, “We have been very impressed thus far with the level of service received from MRI and look forward to working with the software and reaping the benefits over the coming months.”

The post MZA Associates Corporation to streamline its fixed asset accounting appeared first on MRI Software.

PropTech pioneer introduces key capabilities to enhance its comprehensive MRI Living, MRI @Work and Financials suites in face of emerging challenges

Solon, Ohio – April 28, 2020 – MRI Software (“MRI”), a global leader in real estate software solutions, announces the launch of key new and updated features for its residential, commercial and financials solutions that will better equip its clients to navigate the emerging challenges of the COVID-19 crisis. The company has introduced enhancements to its comprehensive MRI Living, MRI @Work and Financials suites that will empower owners and operators of both residential and commercial properties to adapt to changing behaviors and market conditions resulting from the pandemic.

“COVID-19, both the pandemic and the necessary response, slammed the brakes on the global economy. This rapid change created a new set of operational and living conditions to which real estate owners and operators had to adjust. We are seeing rapid adoption of new features as well as more mature features that enable socially distant business practices,” says Patrick Ghilani, CEO of MRI Software.

Brian Zrimsek, Industry Principal, MRI Software, adds: “Looking forward, we expect to see real estate organizations continue to leverage newly implemented technology tools throughout the recovery period and into the new normal. Companies that undergo digital transformation during this time will continue to rely on innovation and technology adoption in the future.”

MRI added several product enhancements to provide landlords and property managers with access to digital tools and services that address rent payment concerns, ensure effective communication with residential and commercial tenants, and help manage the impact on assets and portfolios:

Deferred payment agreements – As tenants and residents seek rent relief due to the economic fallout of the crisis, commercial and residential operators may need to account for deferred payment agreements to accommodate partial payments and delayed payments. The ability to manage and account for these, where balances due are spread over future periods, is now available to MRI Living and MRI @Work clients.

Outbound Call Routing for Automated Communications – A new Outbound Call Routing feature in MRI’s Callmax Automated Communications suite allows users to make calls to prospects and residents as if they are coming from the property’s office phone. With most agents working remotely during the crisis, this feature ensures that properties can stay connected while displaying the proper callback information. These calls are tracked and stored in Callmax so that activity is monitored and available for future reference.

Enhanced Service requests submittal features in Resident Connect – With many properties only handling emergencies and deploying maintenance staff where absolutely necessary, a new feature of MRI’s resident portal helps set expectations as to what qualifies as an emergency. The capability to gather additional information, such as insight into internal unit conditions, is now available, allowing for enhanced data capture during service request submittal.

Calculate Adjusted Depreciation in Fixed Asset Accounting – COVID-19 relief measures bring a significant US federal tax change affecting the management of physical assets. The CARES Act recently enacted in the US impacts fixed asset adjusted depreciation and designates “qualified improvement property” as 15-year Modified Accelerated Cost Recovery Systems property and assigns a 20-year life if an Alternative Depreciation System is elected or required. The amendment is retroactive to 2018. MRI Fixed Asset Accounting software provides users with the flexibility to comply with federal tax changes and easily set up the updated depreciation method with a few clicks.

Advanced Retail Insights and Accounts Receivable Insights – With operating income and cash flow being more essential than ever, two new interactive dashboards powered by MRI’s Analytix suite ensure visibility into key metrics to help organizations navigate these difficult times. The Advanced Retail dashboards provide insights into occupancy and retail metrics, allowing users to visualize exposure by tenant category, region, and asset across the entire portfolio. The Accounts Receivable dashboard provides critical trending information for paid and outstanding receivables, also by asset and geographic attributes across the portfolio. Both solutions benefit from minimal implementation needs, allowing clients to take advantage of them rapidly.

“We are seeing an increasing need for property managers and tenants to rely on digital services as the more rapid shift to a contactless society is being driven by the COVID-19 crisis,” notes Zrimsek. “At MRI, we are doing everything we can to preserve business continuity in the face of remote work scenarios and economic slowdown. Making full use of the technology at their disposal is the best option property owners and managers can take to ensure that important work still gets done, while observing social distancing requirements and other restrictions.”

Supporting Resources

• MRI Software COVID-19 Resource Center
• Blog: Calculate Fixed Asset Adjusted Depreciation to Comply with Federal Tax Changes
• Blog: New PropTech Features to Combat the Uncertainty Created by COVID-19

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(UK) Platform Communications for MRI
PJ Chou (+44 20 3219 5837)
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)
mri@platformcomms.com

(US for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

The post MRI Software Launches New Features to Help Real Estate Companies Meet Challenges of COVID-19 Crisis appeared first on MRI Software.

Global real estate solutions provider promotes longtime finance VP to Chief Financial Officer and brings in experienced software industry leader as SVP and Managing Director for Asia Pacific

Solon, Ohio – April 23, 2020 – MRI Software, a global leader in real estate software solutions, announces that it has strengthened its leadership team, promoting Roman Telerman to Chief Financial Officer from Vice President of Finance and appointing experienced software executive David Bowie as its Senior Vice President and Managing Director, Asia Pacific. Telerman provides invaluable organizational and financial leadership experience as the company continues its strong growth trajectory through organic development and acquisition, while Bowie brings more than 25 years’ experience in the APAC software space where MRI is expanding rapidly and now has an extensive client base.

“Roman has played an instrumental role at MRI through a period of significant growth and transformation,” said Patrick Ghilani, MRI Software’s Chief Executive Officer. “During his tenure, the company has grown topline revenue more than 6x and total employees tenfold to nearly 1,700 globally. Roman played an instrumental role in securing all of MRI’s acquisitions to date and has been the backbone around which the Finance team is currently structured. I am thrilled to congratulate him on becoming MRI Software’s Chief Financial Officer.”

With MRI since 2010, Telerman has seen the company expand its global presence from 35 countries to more than 170. Responsible for managing global financial strategy, operations and forecasting, he will continue to support MRI’s growth, scalability and financial health. He says: “I’m excited to further contribute to MRI’s growth strategy and execution as CFO. It has been a great journey so far and promises to offer new opportunities as we continue to grow into new real estate subsectors and extend our global reach.”

Based in Sydney, Bowie joins MRI from AI and analytics industry leader SAS, where he was Vice President and Managing Director for its Australia and New Zealand division, after holding leadership roles at IBM and Dimension Data. Bowie says: “I am eager to take up this new role to help steer further growth and support MRI’s expanding client base in APAC, where we have significant opportunity to bring continued innovations to the PropTech sector in the region.”

Ghilani says: “David brings critical experience in leading product innovation and ensuring top-caliber client support in APAC. He will be a huge asset to the executive team and is a proven industry leader who has spearheaded significant growth and transformation.”

Last year MRI acquired Rockend, the market-leading provider of residential property and strata management solutions in the ANZ PropTech sector, significantly expanding its offering in the region and bringing the largest residential footprint in Australia into the MRI fold. The company now has close to 6,000 clients and over 200 employees in the APAC region.

Telerman replaces Bruce Duner, MRI’s outgoing CFO, who joined in early 2019 and saw the company through a number of key acquisitions, as well as helping bring Harvest Partners onboard as an investor. Ghilani notes: “The contributions Bruce made to MRI will have a lasting impact on our future success, and we greatly appreciate his dedication and leadership. We wish him great success as he moves onto his next endeavor.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

US for MRI
Rachel Antman
+1 212-362-5837
rachel@saygency.com

The post MRI Software announces two key executive appointments to support global growth appeared first on MRI Software.

Acquisition of social housing technology provider to extend MRI’s residential market capabilities

London – April 15th, 2020 – MRI Software, a global leader in real estate software solutions, announces that it has entered into an agreement to acquire Castleton Technology Plc, a leading provider of specialist software and services to the social housing sector. MRI expects that, upon close, the acquisition will extend its residential market offering and accelerate the development of Castleton’s cloud-based technologies to serve the needs of social housing providers.

“The acquisition of Castleton is a significant development for our business, delivering us scale in the UK real estate market and social housing sector in particular – providing a platform to further accelerate our growth globally,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “A combined MRI and Castleton will be extremely well equipped to address the varying needs and evolving business models of the UK and Australian social housing sectors, with a comprehensive and flexible product portfolio. We are excited to work with the management team and employees of Castleton, to build upon their strong position in the social housing sector, utilising MRI’s complementary experience, capabilities, network and resources.”

Castleton’s cloud-based technology is used by social housing providers in the UK, Republic of Ireland and Australia to enhance every aspect of customer service and business management, from building repairs to document management and payment collection. MRI plans to build on Castleton’s capabilities, providing investment and access to global expertise that will accelerate growth.

“Castleton has performed well since embarking on the strategy in 2013 to build a public sector-focused software and managed service business, growing organically as well as through a series of acquisitions. The competitive landscape is changing and as such I welcome the opportunity for Castleton shareholders to realise their investment at a premium of 42.9% to yesterday’s Closing Price. I would also like to take this opportunity to thank all the employees of Castleton for all their hard work and support. The Castleton Directors believe that MRI Software will be an excellent partner to Castleton and its management and employees. We believe the acquisition is in the best interests of all our stakeholders and unanimously recommend that shareholders vote in favour of the resolutions relating to the acquisition,” said David Payne, Non-Executive Chairman of Castleton.

The acquisition has been unanimously approved by the boards of MRI and Castleton and is pending shareholder approval. Castleton will continue to serve its clients, as usual, without interruption.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organisations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(UK) Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(US for MRI)
Rachel Antman
+1 212-362-5837
rachel@saygency.com

For full details of the offer please see the Rule 2.7 Announcement at: https://www.castletonplc.com/investors/

The post MRI Software enters agreement to acquire Castleton Technology PLC appeared first on MRI Software.

Addition of specialist social housing management software provider broadens coverage for the growing UK housing sector

London – March 31, 2020 – MRI Software, a global leader in real estate software solutions, announces the acquisition of Orchard Information Systems, a specialist provider of software solutions for the UK social housing sector. The acquisition adds to MRI’s offering for the UK residential market and provides innovation and scale to extend the reach of Orchard’s solutions to better serve the growing social housing sector.

“We are excited to welcome Orchard into the MRI family,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “By uniting Orchard’s expertise in social housing with MRI’s solutions for managing residential, build-to-rent, leasehold block management and mixed-use properties, we are now extremely well equipped to address the varying needs and evolving business models of the UK residential market with a comprehensive and flexible product portfolio. Together, MRI and Orchard provide important tools for our clients to positively impact their communities and support the increased need for social housing in the UK.”

With locations in Newcastle, UK and Donegal, Ireland, Orchard is a leading provider of social housing property management solutions and services to UK housing organisations and councils. As a result of the acquisition, Orchard clients can now benefit from MRI’s additional cloud software offerings, resident portal and component accounting capabilities to help manage and grow diverse portfolios.

Pat Clarke, Chief Executive Officer of Orchard Information Systems, says: “As part of MRI Software, Orchard will gain access to additional resources, technology and expertise to further strengthen our support for UK social housing. The acquisition brings together two companies with a shared commitment to innovation and a strong alignment of culture and values, paving the way for us to better serve the changing needs of the UK social housing sector.”

Orchard will continue to serve its clients without interruption and remains committed to supporting all organisations.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organisations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

Hugh Filman, Zoe Mumba or PJ Chou

mri@platformcomms.com

+44 20-7486-4900

Rachel Antman

rachel@saygency.com

+1 212-362-5837

The post MRI Software broadens capabilities with Orchard Information Systems acquisition appeared first on MRI Software.

Event demonstrates the value of PropTech solutions MRI Living and MRI @Work for the EMEA market and honours clients with the MRI Innovation Awards

London, February 19, 2020 – MRI Software (“MRI”), a global leader in real estate software solutions, announced the European launch of MRI Living and MRI @Work at Ascend London, the organisation’s largest-ever event in the region, held on February 12-13. The comprehensive residential and commercial property management solutions expand on MRI’s existing technologies for the European market, offering clients additional flexibility to meet the shifting demands of the property industry with an innovative PropTech platform.

The MRI Living suite of residential solutions includes flexible portal technology to connect resident communities and improve customer service, while streamlining operations for landlords and property managers. MRI @Work provides an integrated suite of commercial solutions including Lease Intelligence, MRI’s lease abstraction and analysis solution powered by artificial intelligence, enabling clients to save time, improve data quality and gain portfolio insights.

MRI Living and MRI @Work were officially unveiled to over 550 Ascend London attendees – including delegates, technology partners and industry professionals – gathered at etc.venues 133 Houndsditch for two days of keynotes, presentations, seminars, workshops, networking events and exhibits from MRI and its technology partners.

“Ascend provides an opportunity for us to share insights and collaborate with clients and partners to continue shaping the future of PropTech in the UK and the broader European market,” says Dermot Briody, MRI’s Executive Managing Director, Europe. “MRI Living and MRI @Work offer property owners, occupiers and managers a broad set of integrated solutions that help them optimise the efficiency of their entire property portfolios so they can enhance customer service and better navigate the evolving market.”

MRI also revealed that its asset management solution, Investment Central, will be launched in Europe at MIPIM 2020 March 10-13 in Cannes, France, where visitors to its stand (R7.C13) can view a live demonstration or book a private meeting. Investment Central enables developers, syndicators and investors to manage real estate investments and create more informed portfolio strategies – allowing users to consolidate disparate investment data and documents to support comprehensive risk management and efficient reporting to stakeholders.

The European winners of the MRI Innovation Awards were also announced at Ascend London. These awards recognised six clients and one partner for their achievements and success in leveraging the company’s open and connected software solutions. The MRI Innovation awards are presented at MRI users conferences around the world to honour the innovation of its clients globally.

2020 MRI Innovation Award recipients in Europe:

• Flexibility: Recognising clients who best utilise MRI tools and the Partner Connect ecosystem to create a single experience of software excellence for their business – Winners: Knight Frank; and Legal & General Investment Management
• Ambassador of the Year: Recognising individuals who embrace their membership in the MRI community by providing guidance, support, and/or ideas to their colleagues and the industry as a whole – Winners: Cecilia Crump, South West Yorkshire Partnership NHS Trust; and Nathan Spitzer, Alliance Managing Agents
• Community: Recognising clients who help the wider user community by working alongside MRI on new developments and service offerings – Winner: Grosvenor Estate
• Project of the Year: Recognising a major project with a significant impact on the client’s operations and strategy, as well as the range of functionality and services being delivered by the MRI Professional Services team – Winner: The Arch Co & Network Rail
• Partner of the Year: Recognising partners who use their partnership with MRI Software to go above and beyond in reaching new audiences, creating new integration points, and generating more demand from clients – Winner: Fixflo

Ascend London follows a highly successful North American MRI Ascend users conference in Anaheim, California in October, which saw a range of new solution launches. MRI Ascend APAC will take place in Sydney, Australia on 13-14 May and MRI Ascend Africa will follow in Johannesburg, South Africa on 10 June.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
Rachel Antman
rachel@saygency.com
+1 212-362-5837

Hugh Filman, Zoe Mumba or PJ Chou
Platform Communications
mri@platformcomms.com
+44 20-7486-4900

The post MRI Software Exhibits Residential and Commercial Solution Suites at Ascend Users Conference in London appeared first on MRI Software.

Harvest Partners joins GI Partners and TA Associates in backing MRI’s mission to help real estate companies improve operations and maximize portfolio value through an open PropTech ecosystem

Solon, Ohio – January 15, 2020 – MRI Software, a global leader in real estate software solutions, announces that funds managed by Harvest Partners, LP, a leading private equity firm, are making a substantial strategic investment in the company. Harvest Partners joins existing investors TA Associates and GI Partners as institutional shareholders in MRI. At the same time, TA Associates is also making a significant new investment in the business. These investments will enable MRI to bolster innovation across its end-to-end offering, accelerate growth, extend its global footprint and deliver on its mission to create an open technology environment for the real estate industry.

Patrick Ghilani, MRI’s Chief Executive Officer, comments: “Harvest is an experienced investor with a long-term perspective that will help MRI continue to meet the growing and evolving needs of our clients, innovate our software portfolio and provide world-class global service. We believe the added capital will further the development of our comprehensive software portfolio and allow for strategic add-on acquisitions to meet the needs of a rapidly changing market. Our management team is invigorated to continue our mission in this new decade with the support of these three experienced investors.”

Today, MRI has more than 8,500 enterprise clients, representing over two million users, who rely on the company’s applications to run their daily real estate operations. MRI has experienced unprecedented growth over the last three years, both organically and through strategic acquisitions, resulting in a more than tripling of the size of the business. Over the same timeframe, the number of MRI employees has more than doubled to 1,450.

MRI has significantly expanded its global footprint with major strategic acquisitions in the United Kingdom, South Africa and Australia. The company has also made key acquisitions that strengthen its product offering and capacity for future innovation, including Leverton, a pioneer in artificial intelligence for the real estate sector, and ProLease, which enhanced capabilities aimed at helping corporate occupiers manage lease administration and analysis while meeting new global accounting standards. MRI now serves clients in more than 170 countries from 30 locations around the world, including Cleveland, Atlanta, Boston, Toronto, London, Cape Town, Singapore, and Sydney.

Hythem T. El-Nazer, Managing Director of TA Associates, says: “Since making our investment in MRI in June 2017, the business has accelerated its growth via continued innovation in new applications and through strategic acquisitions that have extended its global footprint. We are excited about making a further investment in MRI alongside Harvest and are thrilled to continue to back Patrick Ghilani and his leadership team.”

Travis Pearson, Managing Director of GI Partners, adds: “Since GI Partners first invested in MRI in June 2015, the company has demonstrated the ability to capitalize on new investment and deliver innovation, accelerated organic growth and a compelling global competitive position. We appreciate the outstanding leadership that Patrick and the rest of the MRI executive team have delivered and look forward to the company’s next stage of growth.”

Andrew Schoenthal, Partner at Harvest Partners, notes: “We could not be more excited to support MRI on the next phase of their journey. We have watched MRI’s success over the years and are pleased to have the opportunity to be a part of it. We look forward to partnering with management, TA Associates and GI Partners to continue to build the leading provider of real estate software solutions globally.”

TA Associates, GI Partners and Harvest Partners will have equal representation on the MRI Board of Directors. UBS is acting as the exclusive financial advisor and Kirkland & Ellis and Goodwin Procter are acting as legal advisors to MRI Software, GI Partners and TA Associates during the transaction. White & Case is acting as legal advisor to Harvest Partners.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

About Harvest Partners
Founded in 1981, Harvest Partners is a leading New York-based private equity investment firm that focuses on investments in middle-market companies in the business services & consumer, healthcare, industrial services and manufacturing & distribution sectors. This strategy leverages Harvest Partners’ 35+ years of experience in financing organic and acquisition-oriented growth companies. For more information, please visit harvestpartners.com.

About GI Partners
Founded in 2001, GI Partners is a private investment firm based in San Francisco, California. The firm has raised $20 billion in capital from leading institutional investors around the world to invest in private equity, real estate, and data infrastructure strategies. The private equity team invests primarily in companies in the Healthcare, IT Infrastructure, Services, and Software sectors. The real estate team invests across a broad range of platforms and strategies. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information on GI Partners and its entire portfolio, please visit www.gipartners.com.

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

MEDIA CONTACTS:
Hugh Filman, Zoe Mumba or PJ Chou
mri@platformcomms.com
+44 20-7486-4900

Rachel Antman
rachel@saygency.com
+1 212-362-5837

The post MRI Software Receives Investment to Accelerate Innovation And Global Growth appeared first on MRI Software.

Acquisition extends MRI’s reach in US public housing sector to cover a broader spectrum of applications and adds accounting services

Solon, Ohio – January 8, 2020 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of Lindsey Software, a leading provider of property management software and services for public and affordable housing organizations in the United States. Lindsey’s comprehensive suite of software and services, designed to help housing agencies optimize operational and administrative processes and fulfill government compliance requirements, will further extend MRI’s existing public housing capabilities to better serve the industry.

MRI’s acquisition of Lindsey broadens the reach of its public housing software to provide the industry’s most complete range of applications purpose-built for housing agencies, while adding specialist accounting services to its offering. Lindsey’s cloud-based solution allows property managers to manage tenant payments, maintenance workflows, applications, and communications. In addition, Lindsey’s tenant and employee screening solution is designed specifically for the needs of public housing authorities. Lindsey’s accounting services assist housing agencies in ensuring financial and regulatory compliance with required Housing and Urban Development (HUD) financial reports as well as a variety of other regulatory requirements.

“Acquiring Lindsey enhances our already extensive public housing offering and represents another important milestone in our goal of providing world-class technology and services that cover the full range of needs for organizations operating in the sector,” says David Carner, Senior Vice President of Residential Solutions at MRI Software. “Lindsey has been serving the public housing industry for 60 years, and their solutions are being used by more than 700 public housing authorities across the United States, making them a great addition to MRI. With Lindsey’s industry-leading mobile applications and screening and accounting services, we’ll be able to provide public housing authorities with even more tools to better serve their customers.”

“We are excited to be joining MRI and providing our clients with more capabilities and options for running their organizations than ever before,” John Lindsey, Chief Executive Officer at Lindsey Software, says. “MRI and Lindsey share a commitment to innovation, and both our companies believe in an open and connected approach to software. MRI has invested significantly in innovation for the public and affordable housing markets – bringing much-needed modernization to a sector that historically has been underserved by property management software providers. Lindsey clients will continue to have access to our experience and expertise while also benefitting from MRI’s state-of-the-art new solutions and extensive partner network, enjoying even more flexibility and choice.”

Located in Little Rock, Arkansas, Lindsey offers property management solutions designed to ease the workload of public housing managers. For tenants, its software allows 24/7 mobile access and up-to-date tracking of the status of the application process, resident maintenance requests and online rental payments. For housing managers, that means tenants are able to interact around the clock about the things they care most about, without staff having to be personally available.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
Hugh Filman, Zoe Mumba or PJ Chou
mri@platformcomms.com
+44 20-7486-4900

Rachel Antman
rachel@saygency.com
+1 212-362-5837

The post MRI Software Acquires Lindsey Software to Bolster its Industry-leading Public Housing Property Management and Compliance Solutions appeared first on MRI Software.

Acquisition extends the MRI Living suite of comprehensive residential solutions and enables property managers to further streamline resident onboarding and maximize compliance

Solon, Ohio – November 21, 2019 – MRI Software (“MRI”), a global leader in real estate software solutions, announces that it has acquired Multifamily Insurance Partners, a leader in resident insurance programs for the US multifamily rental market. The acquisition will enable property owners and operators to close insurance gaps and minimize loss by implementing resident insurance compliance programs for apartment renters. The new offering, MRI Multifamily Insurance, further streamlines the leasing and onboarding process for property owners and operators and is available through MRI Living, the company’s end-to-end suite of residential solutions.

“Acquiring Multifamily Insurance Partners enhances MRI’s comprehensive residential offering,” says David Carner, Senior Vice President of Residential Solutions for MRI Software. “It enables MRI to make resident insurance available as part of a single, fluid leasing and onboarding process that protects both property owners and residents. Offering renters insurance via online portals gives MRI clients more options for creating a fully automated system that addresses the preferences and habits of modern renters; and a tightly integrated and intuitive insurance compliance program is crucial for property owners and managers to know their buildings are protected from any risk.”

The launch of MRI Multifamily Insurance gives property managers more choice when it comes to insurance. By giving clients the flexibility to either select MRI Software’s insurance compliance program or select a provider from its extensive Partner Connect program, MRI maintains its commitment to offering clients an open and connected ecosystem where they can choose the solution that works best for them.

Jim Sweeney, Multifamily Insurance Partners Chief Executive Officer, says: “Joining a PropTech industry leader in MRI helps Multifamily Insurance Partners reach new markets and leverage the latest in leasing and onboarding technology to provide the enhanced customer experience that property managers demand. Our clients will still benefit from our longstanding expertise and industry relationships, with the added benefit of MRI’s innovation, end-to-end offering and trusted position in the market.”

Headquartered in Ohio, Multifamily Insurance Partners is a pioneer in designing and executing resident insurance programs. Over 80% of the largest multifamily owners and operators employ required insurance programs. Backed by a leading global insurance provider, Multifamily Insurance Partners has implemented programs for over a million apartment units. It provides property owners and operators with a number of benefits, including uninsured loss recovery, reduced property and casualty insurance rates, and potential ancillary income. Software Equity Group acted as the strategic advisor for Multifamily Insurance Partners.

To learn more about MRI Multifamily Insurance, register for the webinar on January 9, 2020.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
Hugh Filman, Zoe Mumba or PJ Chou
mri@platformcomms.com
+44 20-7486-4900

Rachel Antman
rachel@saygency.com
+1 212-362-5837

The post MRI Software Acquires Multifamily Insurance Partners to Help Apartment Owners Reduce Risk and Provide Reliable Protection for Consumers appeared first on MRI Software.

The CT Group, Harbor Group Management, Urban Edge Properties and insightsoftware are presented with awards at MRI’s Ascend users conference in Anaheim

Solon, Ohio – October 18, 2019 – MRI Software (“MRI”), a global leader in real estate software solutions, announced the recipients of the second annual MRI Innovation Awards at its Ascend users conference, which was held in Anaheim on October 13-16. The awards, which were presented in the general session on the second day of Ascend, address four categories: Community, Flexibility, Ambassador of the Year and Partner of the Year. They honor MRI clients and partners that have leveraged the company’s open and connected software and extensive partner network to elevate their business and gain a competitive advantage.

“This is the second year in which we are honoring our community of clients and partners – who are at the core of everything we do – for their outstanding work and dedication to leveraging innovation to provide value to their customers,” said MRI Software Chief Executive Officer Patrick Ghilani, who presented the awards along with Chuck McDowell, Senior Vice President of Commercial and Financial Solutions. “This year’s award winners have been champions of the open and connected approach to software, dedicated to pushing industry boundaries and getting the most out of technology to gain insight, efficiency and a competitive edge.”

2019 MRI Innovation Award recipients:

Community: The CT Group
The CT Group, which provides asset and property management services for owners of affordable/moderate income rental housing, has been instrumental in providing ideas and feedback to MRI that support the development of advanced Affordable Housing solutions. In working with MRI, the CT Group has participated in beta testing and helped shape MRI training procedures to better meet the needs of the industry.

Flexibility: Harbor Group Management
Harbor Group Management Co., LLC (Harbor Group Management), a leading property management company in the multifamily and commercial sector, has made innovative use of MRI’s flexibility and openness to create a unique software ecosystem for its business. Harbor Group Management has successfully streamlined workflow across the business through real-time integrations between MRI and multiple partner and non-partner solutions. The team also provides valuable user feedback on ways MRI can evolve and enhance its products, helping contribute to future innovations for real estate technology.

Ambassador of the Year: Cecilia Li, Urban Edge Properties
Cecilia Li is Senior Vice President of Information Technology at Urban Edge Properties, a real estate investment trust (REIT) that acquires, develops, owns, manages and improves shopping centers in and on the edge of urban communities. She has helped her company implement and harness a unique retail technology infrastructure, allowing it to make huge strides towards fulfilling the company goal of complete efficiency. A leading industry influencer, Li shares MRI’s commitment to a flexible and open ecosystem, seeing it as integral to her approach to technology.

Partner of the Year: insightsoftware
insightsoftware, a global leader in enterprise resource planning (ERP) and enterprise performance management (EPM) reporting solutions, was recognized as an outstanding member of MRI’s Partner Connect program. The partnership has resulted in commercial success through close collaboration and shared commitment to providing flexibility and choice for mutual clients. The integration between insightsoftware’s Spreadsheet Server and MRI allows users of the two technologies to easily view real-time data and improve reporting efficiency. The company has demonstrated strong dedication to working with MRI to develop deep integrations that help clients gain insights and transparency.

“It’s an honor to be recognized as MRI’s 2019 Partner of the year,” said Tonya Cannady, Senior VP of Partnerships for insightsoftware. “Continued collaboration with MRI enables insightsoftware to deliver increased value and drive successful business outcomes for MRI’s customers.”

The MRI Innovation Awards and MRI Ascend took place in the Anaheim Convention Center. Ascend has brought together 1,300 MRI staff and users – including representatives of more than 60 technology partners – for four days of keynotes, presentations, networking events, seminars, workshops and exhibits on MRI and its real estate ecosystem. The US conference will be followed by sister events in the UK, Australia and South Africa in 2020.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
Rachel Antman
rachel@saygency.com
+1 212-362-5837

MEDIA CONTACTS:
Hugh Filman, Zoe Mumba or PJ Chou
Platform Communications
mri@platformcomms.com
+44 20-7486-4900

The post MRI Software Honors Leading-Edge Real Estate Technology Players with 2019 MRI Innovation Awards appeared first on MRI Software.

Announces innovations that further optimize the user experience for both clients and their customers and enhance integrations, workflow and access to MRI and third-party apps

Anaheim, California – October 14, 2019 – MRI Software (“MRI”), a global leader in real estate software solutions, announced a range of key new solutions during the opening general session of MRI Ascend, its North American users conference, held in Anaheim on October 13th through 16th. The announcement underlines MRI’s continuing commitment to both innovation and an open and connected approach to real estate software. The announced products bring new payment, lead management, lease intelligence and secure signature capabilities to MRI’s comprehensive portfolio, while offering a more modern, consumer-oriented user experience (UX) for both clients and their customers – along with greater choice and flexibility than ever.

The new solutions were unveiled live during the general session of the Ascend users conference at the Anaheim Convention Centre, where some 1,300 attendees – including representatives of more than 60 technology partners – have converged for four days of keynotes, presentations, seminars, workshops, networking events and exhibits from MRI and its real estate ecosystem. The North American conference, which will be followed by sister events in the UK, Australia and South Africa in 2020, comes as MRI continues to enjoy rapid growth, with revenues rising by 27% in the first half of 2019 compared to the same period last year and bookings (sales for future business) up by 37% year over year.

“Ascend creates a unique atmosphere where we can listen, learn and collaborate with clients and partners and define what it means to succeed in the ever-changing real estate technology landscape,” says Patrick Ghilani, MRI’s Chief Executive Officer, who addressed the event’s general session. “The record number of innovations we’re launching at Ascend is indicative of the growing global momentum of proptech as well as the increased adoption of and demand for flexibility and choice in real estate tech.”

The announced solutions promise to further empower MRI clients to create a software ecosystem that suits their needs and preferences, while providing a range of benefits that boost efficiency, streamline processes and equip real estate players to meet future changes in the industry.

MRI Application Gateway is the new consumer-friendly, app-based homepage for all MRI and third-party solutions to which a user has access, providing:

• icons on the homepage that give the MRI user interface the familiar look and feel of a smartphone or tablet;
• a launch screen that can be tailored to make any and all applications available to users via a click, creating a singular user experience;
• a unified point of entry for all MRI-related applications through secure, single sign-on access
• the ability to add new applications from MRI’s own portfolio or its vast partner network.

MRI Payments is a comprehensive payment-processing solution that supports online and check payments for residential properties, offering:

• a robust digital payments platform that simplifies the experience for site managers, prospects and residents;
• complete visibility into all transactions with a dashboard that tracks payment trends as well as alerts and notifications;
• the ability for all transactions to be processed via a fully integrated solution, making it easier to ensure on-time payments, reduce workload and errors, and simplify the approval and onboarding process;
• support for more traditional check and money order payments as well as cash-based payments;
• a new option in an array of easy-to-integrate payment systems available in the MRI ecosystem.

MRI Lead Management integrates and extends the capabilities of Dynamic Lead Solutions, which was acquired by MRI in June, and brings leading-edge technology for tracking and engaging potential residents into the MRI Living suite of residential solutions in order to:

• give owners and operators a comprehensive set of tools to manage prospects from lead to lease;
• inform strategic decisions in marketing, leasing, staffing and operations;
• offer a road-tested solution that supports a customer-centric approach, helping improve the renter experience and maximize occupancy.

MRI Lease Intelligence brings AI-powered lease abstraction into the MRI @ Work suite of commercial solutions through the integration of Leverton and MRI. Acquired by MRI in July, Leverton enables commercial property owners, operators and occupiers to:

• efficiently extract lease data and analyze it to gain insights;
• ensure data accuracy by directly integrating MRI Lease Intelligence with MRI property management solutions;
• increase transparency and auditability of extracted lease data.

MRI Secure Sign leverages the capabilities of CTM Software, acquired by MRI in February, and enables clients to create and send their real estate documents for signature easily and efficiently with purpose-built integrations from within the MRI platform, providing:

• the ability to generate a document workflow and a dynamic document template, enabling documents to be sent to multiple recipients in a specific order from a single send;
• an integrated user experience for initial document flow and signing and for managing these so that contractual agreements are stored effectively within the system for future reference.

Ghilani concludes: “As the real estate industry continues to evolve, our innovative suite of open and connected solutions will give MRI clients the flexibility to stay ahead of the curve. Bringing together MRI, partner and other third-party solutions into a single user experience enables clients to directly access the exact mix of applications they want, making it easier than ever to create the unique ecosystem that works best for their business.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
Rachel Antman
rachel@saygency.com
+1 212-362-5837

Hugh Filman, Zoe Mumba or PJ Chou
Platform Communications
mri@platformcomms.com
+44 20-7486-4900

The post MRI Software Unveils New Solutions at Ascend Users Conference That Extend Capabilities and Offer More Choice Than Ever appeared first on MRI Software.

Acquisition extends MRI footprint in ANZ while adding new solutions for the rental and multi-owner, multifamily property management space

Solon, Ohio – August 1, 2019 – MRI Software (“MRI”), a global leader in real estate software solutions, announces that it has acquired Rockend, the market-leading provider of residential property and strata management solutions for the Australian and New Zealand (ANZ) PropTech sector. The acquisition significantly expands MRI’s offering in the ANZ market and brings the largest residential footprint in Australia into the MRI fold, bolstering the company’s established presence as a real estate technology trailblazer.

Rockend is the leading real estate technology provider in the ANZ residential property management rental and strata sector with close to 6,000 clients. The company’s solutions are used by real estate agencies in ANZ to manage more than 1.5 million rental properties and by strata businesses to manage 750,000 strata lots in the region. Strata lots are multi-owner, multifamily residential communities that use Rockend technology for the management and upkeep of each property complex, including strictly regulated funds earmarked for ongoing maintenance, insurance and other common costs.

“Acquiring Rockend represents a milestone in our global growth strategy, and it substantially extends MRI’s footprint in ANZ while paving the way for enhanced innovation and future expansion,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “The acquisition fits perfectly within our area of expertise and gives MRI clients in the region access to even more local resources across our comprehensive range of solutions. Rockend clients will likewise benefit from being part of a global provider with a broader set of offerings.”

MRI became the first major real estate software provider to serve ANZ when it entered the market in 1995, and today its commercial, residential and real estate investment software is used to manage more than 90,000 commercial lease units and over 62 million square meters of property.

“Acquiring Rockend greatly extends our capabilities in the multi-owner, multi-family and residential property management space, enhancing and extending the MRI residential solutions suite,” notes John Ensign, President and head of international operations at MRI Software. “What’s more, going forward Rockend’s expertise and technology in the strata and community management marketplace can be applied to other geographies with similar needs – such as managing condominiums.”

Headquartered in Sydney, Rockend is a proven innovator in residential property management software, launching ANZ’s first online solution for this marketplace, Property Tree, a cloud-based property management application, covering operations, communications and accounting – allowing anywhere, anytime access with intuitive functionality. Other Rockend solutions include Rest Professional, its server-based property management application, and Strata Master, its software for owner associations to manage accounts, maintenance and board/owner meetings – automating everyday tasks, simplifying compliance and improving customer service.

Alister Maple-Brown, Rockend’s Chief Executive Officer, says: “Demand for property and strata management solutions has surged as housing construction has boomed in Australia and New Zealand, particularly in the major cities. Joining an established global player with the scalability to meet that demand, take our technology to new markets and provide access to a broad range of related PropTech innovations to our local customers will help strongly position Rockend for continued growth. Additionally, MRI’s commitment to innovation and the industry is very much in line with the Rockend values.”

By bolstering MRI’s market presence in ANZ, increasing staff as well as expanding its offering, the acquisition of Rockend will enable the combined companies to serve clients in the region even more effectively.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
Hugh Filman, Zoe Mumba or PJ Chou
mri@platformcomms.com
+44 20-7486-4900

Rachel Antman
rachel@saygency.com
+1 212-362-5837

The post MRI Software Acquires Rockend, a Leading Provider of Property and Strata Management Software in Australia and New Zealand appeared first on MRI Software.

Addition of ProLease and ProCalc software bolsters MRI’s expertise in corporate occupier market and expands property and equipment lease administration capabilities

Solon, Ohio – July 31, 2019 – MRI Software (“MRI”), a global leader in real estate software solutions, announces that it has acquired ProLease, a leading provider of lease administration, lease accounting, lease analysis and workplace management applications. ProLease’s intuitive and comprehensive software suite extends MRI’s corporate occupier and integrated workplace management offering, providing easy-to-implement solutions that enable real estate, facilities and accounting departments to manage both property and equipment leases while meeting new global accounting standards.

MRI has seen significant growth of its occupier solutions globally, particularly in the EMEA region. The acquisition of ProLease will support continued growth across all geographic markets and add a sizeable install base of marquee occupier clients in North America. The ProLease solution enables corporate occupiers and lessees to address their wider workplace, maintenance, and even project management needs.

Chuck McDowell, MRI’s Senior Vice President of Commercial and Financial Solutions, comments: “ProLease perfectly complements and enhances our strengths and capabilities within our financial and accounting solutions. This easy-to-use solution is designed for accountants by accountants, and it further enhances MRI’s ability to provide a broad range of organizations with the financial tools to meet the new lease accounting standards. Additionally, it expands our robust financial suite by adding capabilities that will benefit clients outside the corporate occupier sector.”

MRI’s acquisition of Stamford, Connecticut-based ProLease comes on the heels of MRI acquiring LEVERTON, a leading artificial intelligence (AI)-powered data extraction solution for leases and corporate documents. Taken together, these acquisitions reinforce MRI’s commitment to empowering real estate occupiers, owners, and operators to save time and money and make better business decisions.

The ProLease acquisition will also bolster MRI’s capacity to help clients manage leases for equipment such as vehicle fleets, copiers, forklifts, and industrial machinery. The new accounting rules have a major impact on the management of equipment leases, which can be complex and difficult to track. ProLease was one of the first solutions updated to address the new global Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) lease accounting standards (ASC-842 and IFRS 16). The company has worked closely with the FASB and IASB to ensure its software enables compliance.

“The change in accounting standards has driven public and private companies to reexamine their current processes and identify more efficient solutions for managing their lease portfolios,” says Alan Bushell, ProLease’s Chairman and Chief Software Architect. “We are pleased to become part of an organization like MRI that shares our commitment to innovation, which will empower our team to continue making advancements around effective lease management and accounting technology.”

ProLease serves more than 700 clients across 40 industries, including real estate, retail, healthcare, government and education. Clients, which include 3M, Citrix, Clear Channel, Del Monte, Penske and Yale New Haven Health, enjoy the ability to create lease capitalization schedules, run disclosure reports, and generate journal entries, which can be integrated with an organization’s general ledger. They can easily track real estate leases, manage all types of assets, automate maintenance workflow, manage projects, and analyze and compare leases. MRI’s acquisition of ProLease encompasses all six of the company’s modules: real estate, equipment, lease accounting, workplace, maintenance, project, as well as ProCalc lease analysis software. ProCalc is used by Newmark Knight Frank, Jones Lang LaSalle, Cushman & Wakefield, Colliers International, CBRE and more.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
Rachel Antman
rachel@saygency.com
+1 212-362-5837

Hugh Filman, Zoe Mumba or PJ Chou
Platform Communications
mri@platformcomms.com
+44 20-7486-4900

The post MRI Software acquires ProLease to help corporate occupiers meet new global lease accounting standards and boost workplace management appeared first on MRI Software.

Acquisition of global PropTech innovator with market-leading lease abstraction solution strengthens MRI’s end-to-end offering, while saving clients time and money

Solon, Ohio – July 31, 2019 – MRI Software (“MRI”), a global leader in real estate software solutions, announces that it has acquired LEVERTON, a leading artificial intelligence (AI)-powered data extraction solution for real estate and corporate documents. The acquisition bolsters MRI’s comprehensive and flexible offering and gives property owners, service providers, and corporate occupiers broader access to LEVERTON’s market-leading automated lease abstraction application. With LEVERTON, organizations are able to more quickly and efficiently turn unstructured information in leases and other corporate and legal documents into data sets that can be mined for actionable insights, leading to better business decisions and improved operational efficiencies.

“The acquisition of LEVERTON brings a true innovator and global PropTech leader into the MRI family, with expertise in the application of AI to real estate data collection, management, and analytics,” says Patrick Ghilani, MRI’s Chief Executive Officer. “Going forward, we will incorporate AI-driven ‘LEVERTON intelligence’ into the very fabric of MRI’s DNA, enhancing our singular customer experience by enabling clients throughout the world to tap into data across the MRI ecosystem. The result: smarter business solutions that generate fresh and powerful insights.”

Using proprietary optical character recognition technology and AI-based, deep learning algorithms to “read” and capture thousands of data points from multiple sources in up to 25 languages – which can include scanned paper, PDFs, and processable documents with inconsistent standards – LEVERTON creates searchable, structured data sets that provide a clear and accurate picture of a business’ real estate assets. The cloud-based AI engine positions real estate owners, operators, and occupiers to optimize their handling of contracts, run operational teams more efficiently and process transactions faster – enabling them to more effectively manage revenue and expense streams across property portfolios. The ability to create transparent, accurate and auditable lease portfolios has become critical for companies with real estate assets working to comply with global accounting standards such as IFRS 16 and ASC 842.

“LEVERTON leverages AI to successfully tackle the problem of virtual – and even real – filing cabinets full of leases and other key documents trapped as unstructured and unsearchable data,” says Russ Butler, MRI’s Chief Technology Officer. “Put simply, it provides easy access to difficult data, saving companies time and money.”

As it scans leases and related documents, the LEVERTON AI engine “learns” to spot key data points such as start and end dates, critical options and renewals, and rates per square foot. The AI can also take in variables such as whether utilities are included or excluded, property tax, and common area costs such as general maintenance, security and landscaping – and it self-adjusts as it applies new learnings. Once extracted, lease and other data can then be analyzed for trends and patterns to uncover hidden insights that guide negotiation strategies, reduce administration costs, boost efficiencies and uncover revenue opportunities such as rent-roll comparisons and anomaly detection of key lease terms.

“Artificial intelligence and machine learning are among an array of innovations driving both disruption and opportunity in PropTech,” Butler adds. “MRI has already been utilizing AI-based automation within our Data Management Services for financial and investment data processing. This acquisition adds another dimension to our capabilities and, looking ahead, MRI’s open architecture will support a tightened integration with the lease abstraction solution while enabling us to leverage LEVERTON intelligence across other use cases to deliver new efficiencies and value for clients.”

Abhinav Somani, LEVERTON’s Chief Executive Officer sees bringing its AI solution into MRI’s broader application suite as a logical next stage in its evolution: “Demand for data intelligence has surged within the real estate sector and joining a PropTech category founder with a market-leading end-to-end offering gives us the scalability we need to extend our global reach. What’s more, MRI’s open and connected approach fosters innovation from all sources and empowers companies to solve complex problems in their own way, making it the perfect strategic and cultural fit for LEVERTON intelligence. We’re just beginning to scratch the surface of what AI can do for companies all over the world and being part of the MRI family will allow us to take our solutions and offerings to the next level.”

Prior to the acquisition, LEVERTON was an MRI partner for more than two years and is already used by several MRI clients as part of their integrated property management system. One of these clients, Derwent London, a leading office investor and regenerator, estimates that the use of LEVERTON intelligence has resulted in 60% to 70% savings of time previously spent in document review. Says Jennifer Whybrow, Head of Financial Planning and Analysis at Derwent London: “We are pleased to be working with LEVERTON to speed up and improve the way we capture key commercial lease terms. We are always looking for ways to improve our business through innovation and leveraging the power of AI to achieve operational efficiencies fits with that ethos.”

Founded in 2012 with offices in New York, London and New Delhi, LEVERTON has more than 100 global corporate and investor clients, including JLL, Savills, RSM, Zurich Alternative Asset Management, and Danaher. LEVERTON’s Software as a Service (SaaS) solution has an easy-to-use, web-based interface, with more than 5,000 users around the world and roughly 500,000 documents processed to date. In addition, LEVERTON offers its technology as an engine through its advanced APIs and AI as a Service (AIaaS) offering.

For LEVERTON clients, it will be business as usual. The company will continue to support customers in its other industries such as healthcare, insurance, legal, financial, as well as real estate. MRI champions an open and connected ecosystem enabled by its extensive and growing global partner network; it remains committed to offering choice in terms of integrating LEVERTON with third-party enterprise resource planning and property management technology solutions.

Kirkland & Ellis LLP acted as MRI Software’s legal counsel for the transaction. Canaccord Genuity acted as LEVERTON’S financial advisor for the transaction.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
Rachel Antman
rachel@saygency.com
+1 212-362-5837

Hugh Filman, Zoe Mumba or PJ Chou
Platform Communications
mri@platformcomms.com
+44 20-7486-4900

The post MRI Software Acquires AI Real Estate Pioneer LEVERTON to Turn Unstructured Data into Business Insights appeared first on MRI Software.

MRI Affordable Housing introduces intuitive, modern user experience and a raft of features to meet industry challenges, reinforcing company’s commitment and leadership in the sector

Solon, Ohio – June 25, 2019 – MRI Software (“MRI”), a global leader in real estate software solutions, announces the launch of MRI Affordable Housing, an innovative property management and compliance solution for owners and operators of affordable housing and mixed portfolios in the United States. Its range of breakthrough features enables an unprecedented level of usability, compliance management, mobile access and integration with third-party technologies. The launch reinforces MRI’s leadership position in the US Affordable Housing sector, where its software is used to manage the property operations and equity for more than 50 percent of the market – 1.8 million units in 21,000 properties, worth $67 billion in equity.

“MRI’s introduction of the most advanced end-to-end solution for managing and investing in affordable housing today represents a new era for this historically underserved market, which is in vital need of greater support in the face of growing complexity and a severe shortage of available inventory,” says David Carner, Senior Vice President, Residential Solutions at MRI Software. “The launch of MRI Affordable Housing provides features and functionality that will simplify life for anyone operating in this sector.”

MRI Affordable Housing is an intuitive, hosted solution that draws on the company’s multifamily property management software experience and incorporates decades of expertise from several key acquisitions, beginning with Bostonpost in 2011. Over the last two years, MRI has acquired HAB Software, HAPPY Software, IPM Software, and Tenmast Software – all innovative software providers in the affordable and public housing space – and TCAM, a provider of asset management and consulting services to affordable housing owners, investors and public agencies. MRI now provides software and expert consulting services for all major stakeholders in the affordable housing lifecycle – from financing and development to asset, investment, subsidy and property management.

“Owners and managers of affordable housing face growing complexity today, increasingly handling multi-layered subsidies and mixed portfolios – including buildings containing both affordable and conventional units,” Carner notes. “It is absolutely critical for these organizations to have tools to more effectively manage housing inventory and track compliance rules across all of those layers¬. MRI Affordable Housing’s comprehensive functionality allows users to automate compliance for HUD Multi-Family, Tax Credit, HOME, and USDA Rural Development.”

MRI Affordable Housing is fully integrated with the company’s conventional multifamily property management and financials solutions, simplifying management for owners and operators with mixed portfolios and providing advanced reporting capabilities. MRI’s open architecture and vast partner network give organizations the freedom to easily integrate proprietary and third-party technologies to meet their unique needs. As a web-based solution, MRI Affordable Housing eliminates the headache of hardware and system maintenance while providing 24/7 accessibility from any location.

Other key features include:

• Comprehensive compliance engine that automates the resident certification process and allows easy submission of data;
• At-a-glance tenant files that provide quick access to household contact information, status, important notes and outstanding tasks;
• Assistance Connect online portal integration that allows for self-service certification, application intake, payment and service requests; and improved communication with applicants, residents and owners;
• MRI Financials native integration offers a single source for property and financial data to reduce errors and maintain accuracy.
• Process management dashboards drive efficiency and workflow and highlight key performance indicators;
• Role-based dashboards that display a snapshot of work to be completed and actionable insight into data;
• Global search makes finding information in the system a breeze;
• Centralized reporting using MRI Report Gateway delivers program insight to key stakeholders and allows for combined reporting on both conventional and affordable properties.

“On a very practical level, owners and managers don’t need to make multiple entries per household, and they have quick access to critical information and tasks to be completed,” Carner explains. “Other up-front benefits include more manageable online waitlists with better integration of eligibility data – which was traditionally a paper-based process – and a hassle-free way to complete background checks without leaving the software.”

More than 200 MRI affordable and public housing client users provided product design and feedback during the development cycle. One of the clients that trialed the software has commented:

“I really appreciate the new logical and streamlined workflows and the flexibility for performing rent calculations. The global search functionality is amazing and gets you exactly where you need to go… We are really going to enjoy using this new product.” – Rhiannon Dunn, The CT Group

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
Rachel Antman
rachel@saygency.com
+1 212-362-5837

Zoe Mumba
Zoe@platformcomms.com
+44 20 7486 4900

The post MRI Software launches new comprehensive Affordable Housing solution to manage today’s complex compliance requirements appeared first on MRI Software.

Purchase of New York technology company strengthens MRI’s customer-focused residential offering with software for tracking and engaging prospects and measuring marketing effectiveness

Solon, Ohio – June 20, 2019 – MRI Software (“MRI”), a global leader in real estate software solutions, announces the acquisition of Dynamic Lead Solutions (“DLS”), a provider of technology for tracking and engaging potential residents and analyzing marketing returns. The acquisition enhances MRI Living, the company’s comprehensive and flexible range of residential real estate solutions, by giving multifamily owners and operators more tools for managing prospects – from initial inquiries and apartment viewings through to lease signature.

“In today’s omnichannel marketing environment, multifamily leasing offices require robust tracking and automation capabilities to more efficiently convert leads into leases,” says Brian Zrimsek, Industry Principal at MRI Software. “With DLS’s lead tracking and prospect management capabilities, leasing agents are better equipped to ensure that all leads are captured and followed up on, freeing them to focus on managing relationships, not data.”

DLS Chief Executive Officer Mark Goldberg, who cofounded the company in 2007, says: “Our priority from day one has been to empower companies in the multifamily sector to keep on top of all leads and make better use of their data – all while providing a complete, professional customer experience. Through our membership in MRI’s Partner Connect program, several multifamily operators already use our software in conjunction with MRI’s residential solutions. Joining the MRI family will result in tighter integration of DLS into the MRI Living suite of solutions and deliver more powerful customer relationship management capabilities to clients.”

New York-based DLS employs dashboards, data analysis, automation and customer relationship management functionality to ensure 24/7 management of viewing appointments and 100% follow-up and tracking of all leads that come in. Specifically, the solution:

• Streamlines all rental inquiries into one user-friendly, centralized system
• Provides time-management display of daily tasks and appointments
• Ensures real-time notification of all phone and email leads
• Enables analysis of return on investment (ROI) on advertising and staff performance
• Generates professional email responses including photos, floorplans and attachments with just a couple of clicks

Zrimsek notes: “We see the residential market moving from a lease focus to a customer-centric approach that puts client relationships at the core of each owner or property manager’s business, and, as such, we continue to invest in technologies that are geared for this consumer-driven approach. MRI and DLS together will deliver new ways to improve the lead management experience for both leasing agents and prospective residents.”

Tina Frankenburger, Corporate Marketing Director of JCM Living, which uses DLS and MRI to manage properties across several states, calls it the best lead tracking solution she has used in her 35 years in the multifamily industry. She says using DLS in conjunction with MRI has helped JCM’s productivity reach its highest levels ever, with income lost due to vacancies reduced beyond expectations.

“It simply puts us in a better position to close the deal and lease to a larger percentage of prospects, with follow-ups made much easier,” Frankenburger says. “What’s more, marketing reports show where dollars are working and where they are not, so informed decisions can be made on how to budget. Reports indicate why prospects are not renting, so recommendations can be made to Regional Property Managers for possible changes at the communities to make them more attractive. The result is increased traffic, occupancy and income.”

The DLS acquisition reinforces MRI’s established position in the US residential space, where its clients include industry leaders such as AvalonBay Communities, Harbor Group Management and Olympus Property. The deal follows the recent acquisition of Engage Property Technology, a leading UK-based provider of self-service online portals for the residential space, bringing additional expertise in user experience and consumer-facing apps that benefits MRI globally.

MRI champions an open and connected ecosystem enabled by its extensive and growing global partner network. It remains committed to offering choice in terms of integrating both DLS with other property management software applications and other lead management solutions with MRI’s own range of real estate solutions.

MRI will be exhibiting its MRI Living suite, including Dynamic Lead Solutions, in booth 1439 at the NAA Apartmentalize conference in Denver June 27th and 28th.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
Rachel Antman
rachel@saygency.com
+1 212-362-5837

Hugh Filman, Zoe Mumba or PJ Chou
Platform Communications
mri@platformcomms.com
+44 20-7486-4900

The post MRI Software Acquires Dynamic Lead Solutions to Help Multifamily Real Estate Players Manage Customer Relationships appeared first on MRI Software.

Solon, Ohio – June 19, 2019 – MRI Software (“MRI”), a global leader in real estate software solutions, announces that its Chief Executive Officer, Patrick Ghilani, has received the Julie Devine Digital Impact Award in honor of his contributions to the real estate industry at the 2019 Realcomm Digie Awards. The awards took place on June 13 at Realcomm 2019 in Nashville, a conference that celebrates the intersection of technology, innovation and real estate operations.

The Julie Devine Digital Impact Award, named after a late partner of Realcomm, is given to the most innovative thought-leaders in the commercial real estate industry each year. “This award is designed to acknowledge those individuals who saw things ahead of their associates, had the courage to leave the mainstream and the tenacity to keep standing up after many failed attempts,” said Jim Young, co-founder and CEO of Realcomm. “History proves that we cannot accomplish major change without these innovators.”

Ghilani said after receiving the award: “I want to thank Realcomm for this great honor and for recognizing the MRI vision, which encompasses an open and connected approach that fosters innovation and provides flexibility and choice for commercial real estate players. Groundbreaking innovations don’t just come from a few dominant players but from a range of sources that include established technology pioneers and new startups that are honing specialist solutions. I also want to thank the MRI team for making this revolution in openness and interoperability a reality.”

The Realcomm Digie Awards recognize companies, real estate projects, technologies and individuals that have positively impacted the Real Estate industry through their intelligent and effective use of automation and innovation.

Ghilani’s Digital Impact Award came on a night when an MRI client, Urban Edge Properties, also received a Digie for Best Use of Automation in Property/Facility Management.

“It is great to see clients being recognized for making the most of technology,” Ghilani notes. “It is vital for the real estate industry to embrace new advances. There’s a real change occurring as more and more businesses see leveraging technology as a way to run more efficient businesses and even gain a competitive advantage.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com

About Realcomm
Realcomm Conference Group, LLC is a worldwide event and media company at the intersection of technology, innovation and Commercial and Corporate Real Estate. Through our annual conferences, CIO forums, webinars, workshops, weekly advisory, marketplace and other strategic services, Realcomm provides networking and collaboration opportunities, while educating industry professionals about the latest business solutions and technologies to improve Commercial and Corporate Real Estate design, construction, leasing, operations, transactions and use.

MEDIA CONTACTS:
Rachel Antman
rachel@saygency.com
+1 212-362-5837

Zoe Mumba
Zoe@platformcomms.com
+44 20 7486 4900

The post MRI Software Chief Executive Officer Patrick Ghilani Wins a Digital Impact Award at Realcomm Digies appeared first on MRI Software.

Purchase of London-based company deepens MRI’s portal technology capabilities and enhances its digital and customer-focused residential proptech offering

London, United Kingdom – May 23, 2019 – MRI Software (“MRI”), a global leader in real estate software solutions, announces the acquisition of Engage Property Technology, a leading UK-based provider of self-service online portals used by property organisations of all sizes. The acquisition strengthens MRI’s end-to-end offering for the residential sector and furthers its aim of delivering the industry’s most comprehensive and flexible range of real estate technology solutions.

Online resident portals are at the core of Engage’s offering, which includes applications for concierge, community, leaseholder, landlord and lettings requirements. Engage is an established partner of MRI, first integrating with the company’s Qube Property Management solution more than two years ago, and joint clients include several leading UK residential players. The acquisition enables MRI to bolster existing integrations between its back-office solutions and Engage’s online portals and provide more holistic support for owners and agents servicing residents in Build-to-Rent developments and other largescale properties.

“Residents today expect the highest levels of service and to be treated less like mere renters and more like community members,” says Dermot Briody, MRI’s Executive Managing Director, Europe. “Engage’s portals are designed with consumers in mind – vital in a rental market moving away from a lease focus to a customer-centric approach that puts resident relationships at the heart of each landlord’s business. This acquisition enhances our offering to UK clients and brings additional expertise in user experience and consumer-facing apps that will benefit MRI globally.”

Mitesh Patel, Engage’s Chief Executive, adds: “It will now be even easier for residential landlords and housing associations to deploy Engage portals integrated with MRI’s property management and accounting solutions, linking data from both ends and delivering more effective customer service to residents. Our user-friendly approach adds tangible value, as residents keep returning to the portal instead of making phone calls to busy property management teams – helping reduce staffing needs and drive down costs, while enabling landlords to boost customer engagement.”

London-based Engage addresses the unique needs of the UK residential sector where Build-to-Rent properties are emerging as an asset class with a new level of professionalised property management. A December 2018 MRI survey of top executives and managers across the UK property industry showed that 82% see more growth in Build-to-Rent development beyond the next 12-18 months. The trend to more professionalised property management is also being driven on the consumer end by ‘Generation Rent’, young renters priced out of the home purchase market. The research revealed that four out of five property professionals believe Generation Rent in the UK is here to stay and raising rental expectations.

With Engage, MRI is giving developers, landlords and agents the digital tools they need to meet the growing demand for better properties and services that Generation Rent is driving. Engage resident portals act as a layer on top of MRI’s back-end systems, allowing landlords to access data and display important residential information to users while automating business processes – from managing payments and simple enquiries, to handling amenity bookings and ensuring maintenance requests are fulfilled.

“The nature of the UK rental market is changing, and landlords and property managers need to be able to evolve with it,” Briody notes. “What most need today is a scalable solution that meets the needs of both those just entering the Build-to-Rent market and those that already own and manage extensive multi-unit rental holdings – allowing them to build stronger relationships with tech-savvy Generation Rent, more of whom are looking to live, work and play within their communities.”

The Engage acquisition reinforces MRI’s established reputation in the UK residential space and follows the launch of MRI Agency Solutions in March, which brought together the company’s sales and lettings technology brands in the UK into one combined offering, following a series of key acquisitions.

MRI champions an open and connected ecosystem enabled by its extensive and growing global partner network. It remains committed to offering choice in terms of integrating both Engage portals with other property management software applications and other resident portals with MRI’s own range of real estate solutions.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com

MEDIA CONTACT:
Hugh Filman, Zoe Mumba or PJ Chou
Platform Communications
mri@platformcomms.com
+44 20 7486 4900

The post MRI Software Acquires Engage Property Technology to Help Landlords Meet the Evolving Needs of Renters appeared first on MRI Software.

Global real estate technology provider brings together acquired residential brands with existing MRI operations in the UK to form MRI Agency Solutions

London, United Kingdom – April 1, 2019 – MRI Software (“MRI”), a global leader in real estate software solutions, today announced that it is bringing together its multiple sales and lettings technology brands in the UK into one combined offering called MRI Agency Solutions, aiming to deliver the industry’s most comprehensive and flexible range of residential real estate software. MRI Agency Solutions will exhibit as a unified business unit for the first time at the ARLA Propertymark Conference in London on April 2.

“The aim is to combine all of our efforts across every residential agency product line in order to deliver the best software and support to our clients,” said Dermot Briody, MRI’s Executive Managing Director, Europe. “With the launch of MRI Agency Solutions, we are bringing together multiple decades of domain knowledge and experience and combining these with some of the most innovative new technologies now available. The result is we are building on an already great offering to maximise innovation, development, delivery and support.”

The announcement follows a number of vital strategic MRI acquisitions in the residential property software market in the UK. MRI is merging all of its sales and lettings business in the UK, including CML Software and Thesaurus Technology, both of which were acquired last year – boosting the sector expertise already in-house with the MRI Sales & Lettings product line and now serving hundreds of clients in the space. The new business unit will be a single coordinated group, able to take advantage of larger resource pools, global infrastructure and company-wide best practices.

Trevor Youens, Managing Director Residential Solutions, UK for MRI Software, commented: “At MRI we are committed to providing and fostering innovation. The launch of MRI Agency Solutions achieves just that by offering a wide range of innovative products and services that is complemented by our ever-growing number of partners in the wider MRI ecosystem.”

The move reinforces MRI’s established reputation in the UK residential space where it also provides leading solutions in the Leasehold Management and in Build-to-Rent markets, and its clients include industry leaders such as Savills and Grainger – which have already selected MRI to manage their private rented sector developments.

MRI Agency Solutions will be welcoming visitors to its stand C5 at the ARLA Propertymark Conference, so they can learn first-hand how it can help them. To book an appointment, email trevor.youens@mrisoftware.com.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organisations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Hugh Filman or Zoe Mumba
Platform Communications
mri@platformcomms.com
+44 20 7486 4900

The post MRI Software launches new unified sales and lettings business to create comprehensive and flexible offering appeared first on MRI Software.

Company welcomes new CFO to manage rapid growth

Solon, Ohio – March 5, 2019 – MRI Software (“MRI”), a global leader in real estate software solutions, announces major growth in revenue, new business and its partner network during 2018, when it also extended its reach through a series of strategic acquisitions. In addition, MRI welcomes the recent appointment of Chief Financial Officer Bruce Duner, who joins the company after serving in senior roles at a number of leading technology providers. The announcements come as MRI prepares to showcase its comprehensive and connected suite of solutions at MIPIM 2019, the premier global property event, running March 12-15 in Cannes, France.

“2018 was a banner year for MRI, continuing a pattern of rapid growth, reinforced by key strategic acquisitions that further our ability to help real estate organizations use new technologies to meet their changing needs, differentiate themselves in the market and gain a competitive edge,” says Patrick Ghilani, MRI Software’s Chief Executive Officer. “We continue to innovate while finding partners and acquisition targets that add value and choice to our existing offering.”

Strong growth across the board
MRI revenue increased 56% in 2018 compared to 2017 and more than doubled in the past two years. The company continued strong growth momentum with bookings (sales for future business) increasing by a record 71%, with significant growth coming from the EMEA region. The number of new clients added globally in 2018 grew by 44% compared to those added in 2017, while MRI’s total installed base increased by 38% last year through both acquisitions and organic growth.

The company also underlined its commitment to maintaining an open and connected ecosystem of real estate technology providers, bolstering its extensive Partner Connect network with 21 new additions during 2018, bringing the total to 142 partners. The continuing value of MRI’s partner network to its clients was demonstrated by the fact the company created 75 new technology integrations with partners and recorded 192 million data exchanges between clients and partners in 2018 – up from 80 million the year before.

“Adding partners to our already extensive network allows us to widen the scope of choice we can offer clients,” notes Ghilani. “We believe that real estate businesses can make even better use of MRI’s software if we can provide a truly open platform that enables them to tailor their systems and move fast in employing technologies that open new markets and services. Our partnerships go far beyond simple interface connectivity, offering our clients an industry-leading level of integration – taking them towards a singular client experience and true enterprise software interoperability.”

New CFO brings valuable experience
In assuming the role of CFO in February 2019, Bruce Duner brings a range of experience that will help MRI manage the increasing complexity that comes with rapid growth. Prior to joining MRI, Duner was CFO at Accela, a market-leading Software-as-a-Service provider for local and state governments. Previously, he was CFO at Bomgar Corporation, a leading provider in remote support and security software solutions and at Surgical Information Systems, a leading provider of software solutions for hospitals and ambulatory surgery centers.

“With more than 30 years’ experience creating and transforming business strategy into financial and operational success in technology and enterprise software, Bruce has the leadership track record we need to meet the continually growing demands of our global business,” Ghilani says.

Duner says he is joining MRI at an exciting time for the business: “We are seeing tremendous potential in the real estate technology market for innovation and growth and, thanks to a strong team, MRI is already showing huge business momentum – rapid growth, new business wins, shrewd acquisitions and an innovative partner program. All this enables MRI to remain focused on continued profitable growth, built on a very healthy foundation of more than 85% of recurring revenue.”

Building with six new strategic acquisitions
MRI continued its strategy of building its position in key sectors and geographies through strategic acquisitions in 2018, when the company was able to:

• Strengthen its leadership position in the US Affordable and Public Housing markets by acquiring Happy Software, IPM Software and TCAM Asset Management
• Establish a new Agency Solutions business with the acquisitions of CML Software and Thesaurus/Postcode Software in the UK, boosting the Sales and Lettings solutions gained through Qube Global Software, acquired the previous year
• Solidify its position as South African market leader by acquiring PropSys, adding to the footprint of its existing operations and MDA Property Systems, which it acquired in 2017

Record-breaking users conferences
The company also saw record attendance at its International Users Conferences in Atlanta in October and London in December. The US event drew 1,400 delegates, including representatives from 67 partners, while the London conference was the biggest such event to take place in the UK to date with 600-plus attendees, including representatives from 18 partners. Both conferences gave MRI the chance to showcase its latest innovations, which included:

• Improved integration and user experience on the company’s flagship Platform X, enabling a single experience when MRI and third-party applications are connected to its flexible hub
• MRI Debt Management, a web-based accounting solution that allows real estate owners and investors to improve operational efficiency and reduce the risks of bad data
• MRI Qube PM Advance, the latest release of the most widely implemented property management solution in the UK

To learn more about MRI’s solutions, its latest innovations, as well as its partnership network and its open and connected approach, come visit Stand R7.C13 at MIPIM 2019, or email sales@mrisoftware.com.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Hugh Filman or Zoe Mumba
Platform Communications
Hugh@plaformcomms.com or Zoe@platformcomms.com
+44 20 7486 4900

The post MRI Software Announces a Year of Record Growth in Revenue, Business Wins and Partners, Extending its Footprint in Key Markets appeared first on MRI Software.

February 27, 2019

MRI Software LLC, a global leader in real estate software solutions, today announced that Plainvim International Properties Development Group, China’s top industrial property developer and operator, has selected MRI’s Commercial Management solution to efficiently manage its industrial properties in China. MRI’s dedicated regional staff and intuitive, next-generation software support Plainvim’s fast-growing business and streamline its finance and accounting processes.

Plainvim, which focuses on industrial real estate development and management, as well as warehouse logistics and commercial real estate investment, recently experienced rapid growth and needed to upgrade its commercial management software to match. Following an extensive evaluation of providers, Plainvim selected MRI for the expertise of its local support team, flexible software capabilities and ease-of-use.

“A number of elements played into our selection of MRI, but the extensive capabilities of its software were a clear differentiator,” said Michael Li, Chief Financial Officer, Plainvim. “MRI met our criteria for a sophisticated and flexible solution that would prepare our business for the future.”

Li continues, “Nearly as important, though, is MRI’s strong presence and track record in the APAC region. As a Hong Kong-based company that operates heavily in China, we often face complex regulations; MRI truly impressed us with its knowledge of these challenges and the Chinese experience of its support staff. We are pleased to be working with an organisation that understands the many intricacies of our business and has the capabilities to address them.”

The MRI Commercial Suite simplifies property management by combining centralised building, suite and lease information with reporting and analytics capabilities that increase efficiencies and support growth. MRI’s Chinese Electronics Standardization Institute (CESI) certification eliminates costly system audits by allowing MRI users to generate pre-approved mandatory financial reporting documents for companies doing business in China.

“The APAC market is growing rapidly, and our strong presence in the region along with our fully integrated Commercial and Investment Management offering allows us to support the requirements of fast-growing organisations with business in China like Plainvim,” said Stephen Wilson, Managing Director, APAC, MRI Software. “This selection of MRI is yet another validation of our software’s global capabilities and our team’s expertise in the region. We look forward to further building upon our relationship with Plainvim and our presence in APAC overall.”

The post Plainvim International, China’s Top Industrial Property Developer and Operator, Selects MRI Software’s Commercial Property Management Solution appeared first on MRI Software.

CTM’s Web-based Document Management Workflow and Electronic Signature Solutions Streamline the Residential Real Estate Transaction Process

Solon, Ohio – Feb. 7, 2019 – MRI Software LLC, a global leader in real estate software solutions, today announced the acquisition of CTM Software, a leading provider of residential real estate workflow and transaction management software. This acquisition expands MRI’s global residential real estate business for sales, rentals and property management and enhances the company’s capabilities in document management workflow and electronic signature solutions.

CTM Software was founded in Colorado in 2003 to serve the real estate and title markets. CTM has innovated the real estate agent market by providing rules-based workflow, highly flexible documents and scalability through its SaaS-based, end-to-end real estate transaction management platform. Today, CTM enables agents across Colorado to streamline the residential real estate transaction process.

“The acquisition of CTM Software is an ideal entry point for MRI into the extensive U.S. residential real estate agent market,” said John Ensign, President and Chief Legal Officer, MRI Software. “CTM has been a leader in its home state for more than 15 years with a 90 percent market share among Colorado residential real estate agents. We believe that with MRI’s size, resources and ability to scale, we can bring that success nationwide. Additionally, we look forward to exploring ways to leverage CTM’s expertise in workflow, document management and electronic signature to continue improving our property management and financials solutions for existing clients.”

“Throughout our conversations with MRI, their commitment to developing superior, streamlined real estate software was evident, and it was clear our philosophies were aligned,” said Claudio Rielo, Founder and CEO, CTM Software. “By joining MRI, we not only gain access to the size and scale of a global real estate software leader with the reach to bring our solutions across borders, but our expertise in agent solutions means we are able to immediately add to the organization.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Chet Murray
LEWIS
mrisoftware@teamlewis.com

The post MRI Software Expands Solutions for Real Estate Agents with Acquisition of CTM Software appeared first on MRI Software.

MRI Continues to Grow Multifamily Portfolio, Adds Employment Screening Services

Solon, Ohio – Jan. 9, 2019 – MRI Software LLC, a global leader in real estate software solutions, today announced the acquisition of Rental History Reports and Trusted Employees, a provider of cloud-based applicant screening platforms with business units focused on both the multifamily industry and corporate employers. This addition expands MRI’s existing resident screening offering and introduces a new pre-employment screening service to help corporate employers conduct background checks as part of the new hire process.

Rental History Reports (RHR) was founded in Minnesota in 1994 as a provider of multifamily renter background screening technology. In 2004, the company created its Trusted Employees (TE) business unit to provide corporate employers with background on prospective hires, thus becoming Rental History Reports and Trusted Employees (RHR and TE). Throughout its history, RHR and TE has built its holistic platforms with the goal of streamlining and automating screening processes, a strategy that has resonated in the market to the tune of millions of completed online screenings for its clients.

“We’re proud to continue leading the charge for flexibility and choice in real estate software solutions,” said David Carner, Senior Vice President for Residential Solutions, MRI Software. “The addition of Rental History Reports represents another step forward for MRI’s resident and prospect engagement solution, complementing our existing Resident Check screening service with one well suited for small and medium businesses. Additionally, the Trusted Employees offering brings a comprehensive employment screening solution to MRI’s commercial, residential and corporate occupier clients.”

Rental History Reports’ resident screening services for multifamily property owners and managers include credit history, criminal history, eviction history, employment verification and rental references reports. Trusted Employees leverages the company’s core competencies to provide criminal records history, credit background check, and employment, reference and education verification – all customized for industry, business type and position. Critically, the platform’s flexible APIs allow users to integrate information directly from their applicant tracking system of choice.

“MRI is in a period of impressive growth and we’re proud to be part of the momentum,” said Steve Gustafson, Chief Executive Officer, Rental History Reports and Trusted Employees. “We’re confident that the time-tested solutions we’ve built at Resident History Reports and Trusted Employees will secure MRI’s position as the gold standard in holistic screening solutions for multifamily properties and corporate employers. RHR and TE clients will benefit from a broader range of solutions and increased innovation and resources from a global organization of MRI’s size and scale.”

RHR and TE will continue to serve its clients without interruption and remains committed to providing and supporting solutions for all organizations, regardless of their property management software. MRI remains committed to providing choice and flexibility for its clients through an open and connected ecosystem. MRI’s Partner Connect program includes three screening partners, and the addition of RHR gives MRI clients even more freedom to choose the right screening solution for their needs.

Kirkland & Ellis LLP acted as MRI Software’s legal counsel for the transaction. Vista Point Advisors, a boutique technology-focused investment bank, acted as the exclusive financial advisor to Rental History Reports and Trusted Employees.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Chet Murray
LEWIS
mrisoftware@teamlewis.com

The post MRI Software Expands Screening Business with Acquisition of Rental History Reports and Trusted Employees appeared first on MRI Software.

Survey of UK property experts offers hope for the High Street and shows most in the industry are unfazed by the prospect of Brexit

LONDON – December 10, 2018 – Two thirds (66%) of property professionals in the UK believe former retail premises could be the biggest untapped resource for new residential development, according to a survey by MRI Software, a global leader in real estate software solutions. Nearly three quarters (72%) of those surveyed see residential redevelopment of sites previously used by retailers giving the British High Street a new lease of life, the research report, Charting UK Property Trends, shows.

The research also reveals that three quarters (76%) of the industry experts MRI canvassed think Brexit will not seriously hamper the ability of the UK property sector to get the funding it needs to develop properties – including 94% of the property investors, owners and developers. Over three quarters (77%) of respondents also see demand for residential rentals in the UK accelerating, driven by the continued high cost of buying a home.

“Charting UK Property Trends provides a comprehensive inside view of the challenges property players face today and where the opportunities lie,” says Dermot Briody, Executive Managing Director, Europe at MRI Software. “The research shows we will see a far greater number of people living in town centres, which will give a boost to retailers on the High Street while feeding other businesses such as gyms and entertainment venues.”

The survey took the responses of 144 senior property experts from a range of organisations, including investors/owners/developers, consultants, contractors, property managers, sales and lettings agents, service providers, and business occupiers.

“The vast majority of industry players we surveyed were bullish on the outlook for the sector,” Briody notes. “Even where Brexit is concerned, the positive outweighed the negative, as two-thirds maintain that even a Hard Brexit won’t hurt their ability to get funding for property development.”

Other findings in the survey of property professionals include:

• Eight in ten (82%) say ‘Generation Rent’ – young adults unable to purchase a home due to high housing prices – is here to stay, with little likelihood buying conditions will improve
• The same proportion (82%) say Generation Rent is renting for longer, driving demand for higher quality properties
• Nine in ten (90%) see rentals becoming more important to the UK residential market over next 12-18 months
• Four out of five (81%) say co-working / shared office spaces such as WeWork are likely to be users of former retail premises in UK town and city centers
• Three quarters (75%) say their organisation struggles to turn the data it holds into actionable insight but needs to be able to do so
• Over half (54%) say connecting up or linking applications, processes and data within their company is difficult and want an easier way to do it

The online survey took place in October and November. To download a copy of the report, click here.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
Zoe Mumba / Hugh Filman
020 7486 4900
Platform Communications
mri@platformcomms.com

The post Property Professionals See Former Retail Premises As Biggest Untapped Resource For New Residential Housing In UK, MRI Research Reveals appeared first on MRI Software.

Strategic Investment Broadens MRI’s Residential Technology Portfolio

LONDON – December 5, 2018 – MRI Software (“MRI”), a global leader in real estate software solutions, announces the acquisition of Thesaurus Technology, the UK-based provider of cloud-based, self-service software for residential sales and lettings agents. The acquisition, revealed today at MRI’s International Users Conference in London, enhances the company’s technology choices for residential property agents, developers, owners and investors in the UK, from smaller-scale systems for local businesses up to fully-tailored, enterprise-level options for the largest organisations.

“We believe in the power of technology to help property businesses of any size identify commercial opportunities, enhance services and create efficiencies,” said Dermot Briody, Executive Managing Director of Europe, MRI Software. “The acquisition of Thesaurus Technology widens our comprehensive range of solutions for the UK residential sector, deepens our understanding and expertise in the space and gives us greater reach into the growing SMB market. By further expanding our ability to help clients harness technology across multiple touchpoints for their customers and stakeholders, we can continue to partner with real estate organisations at every stage of their business development.”

Thesaurus offers specialist software for estate and letting agencies to handle activities including tracking sales, updating databases, generating invoices and creating management reports. The technology is available with pay-as-you-go monthly subscriptions, either in the cloud or installed on desktops. Thesaurus also offers a UK postcode lookup solution through a sister company, which may have applications for many of MRI’s current UK residential clients. MRI will continue to support all existing Thesaurus users, as well as bring benefits from the wider range of complementary software solutions in its suite.

“MRI is delivering innovation in the UK residential market, making Thesaurus the perfect addition to its stable,” said Kevin Holmes, Director, Thesaurus Technology. “We’re proud to be part of MRI’s UK growth and are excited that our clients will now be able to take advantage of a greatly enhanced range of technology options.”

This latest development builds upon continued momentum for MRI in the UK, including a number of acquisitions of businesses specialising in residential sales, lettings and property management software over the past 14 months. In addition, June this year saw the launch of the MRI Residential Suite in the UK, a dedicated platform for the Private Rented Sector, capable of streamlining everything from marketing to resident payments and service requests.

Shea & Company acted as the exclusive financial advisor to MRI Software and its private equity sponsors, GI Partners and TA Associates.

Supporting Resources

• MRI Software Acquires CML Software
• MRI Software Announces New Residential Proptech solution for the UK
• MRI Software Acquires Qube Global Software

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform, coupled with an open and connected ecosystem, meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
Zoe Mumba / Hugh Filman
Platform Communications
mri@platformcomms.com

The post MRI Software Acquires Thesaurus Technology to Expand its Comprehensive Range of Solutions Specifically Designed for the UK Residential Market appeared first on MRI Software.

MRI showcases technology used by 88 percent of NMHC top 50 managers
and 66 percent of top 50 owners

SOLON, Ohio – Nov. 13, 2018 – MRI Software LLC, a global leader in real estate software solutions, today announced it will demonstrate its multifamily software solutions and expertise at the 2018 NMHC OPTECH Conference and Exposition. MRI’s comprehensive multifamily products give clients the freedom to create the best solution for their unique needs with software that is flexible, open and connected. MRI will highlight its next-generation solutions, which integrate with more than 120 technology providers through the company’s Partner Connect program, in Booth 203 at NMHC OPTECH at the Rosen Shingle Creek Hotel in Orlando, November 14-16.

The NMHC annual list of the Top 50 Owners and Managers represents some of the biggest names in real estate; MRI clients account for 44 of the top 50 managers and 33 of the top 50 owners on the prestigious list. Harbor Group Management is one of several MRI clients included, and the company relies on MRI to manage its extensive portfolio of commercial and residential properties.

“We’ve been an MRI client for over 17 years, and have experienced significant growth in our multifamily portfolio during the past year,” said Tim Quick, Chief Information Officer of Harbor Group Management Co. LLC. “The flexibility of MRI’s open and connected ecosystem allows us to integrate with multiple partners to create the system that sets us up for long-term success. With MRI’s Connect Suite, we’ve been able to scale our business and handle an increased number of online applications, leases and renewals, which positions us to meet the needs of digitally native renters. Additionally, MRI gives us the ability to tailor the system and tune the user experience to align with our business policies and procedures.”

“Multifamily owners and operators are on the front lines of innovation in the real estate industry,” said Brian Zrimsek, Industry Principal at MRI Software. “Our clients rely on the combination of MRI’s broad set of solutions and our commitment to enabling integration with technology solutions of their choice. Interoperability is quickly becoming the de facto expectation in our industry and MRI continues to lead the market in this regard. While the real estate market has evolved over the course of MRI’s 47-year history, our commitment to multifamily housing remains steadfast.”

The MRI Residential Suite, which will be on display at NMHC OPTECH, includes property management and financials software, the Connect Suite for prospect and resident engagement, the Resident Check screening service, Package Tracking to optimize the ecommerce experience for residents and staff, and more. Additionally, Brian Zrimsek will be featured on a panel titled “Tech Amenities as a Value-Add” on Thursday, November 15, from 9:30 a.m. to 10:30 a.m. The session will cover the importance of tech amenities, especially among young renters, and the adjustments the market must make to prepare for a future that values high-speed broadband, e-payments and home automation more than traditional physical amenities.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Chet Murray
LEWIS
mrisoftware@teamlewis.com

The post MRI Software Highlights its Open and Connected Multifamily Solutions and expertise at NMHC OPTECH appeared first on MRI Software.

TCAM’s Software-Enabled Services and Investment Leadership Broaden MRI’s Affordable Housing Solutions Portfolio

Solon, Ohio – Nov. 7, 2018 – MRI Software LLC, a global leader in real estate software solutions, today announced the acquisition of TCAM Asset Management. TCAM provides asset and portfolio management, advisory and consulting services to owners, investors and public agencies in the affordable housing industry. MRI’s software is already used to manage more than half of all affordable housing units in the United States, and bringing TCAM’s investment expertise and software-enabled services into the fold allows MRI to provide managed and consulting services for all major stakeholders in the affordable housing lifecycle – from financing and development to asset, investment and property management.

Headquartered in Boston, TCAM provides services to clients for more than 1,600 properties and 176,000 apartment units across 48 states, Washington, D.C., and Puerto Rico. TCAM experts bring a combined 325 years of experience in the affordable housing and tax credit industries and success in leading the underwriting, structuring and management of diverse, multi-billion-dollar portfolios. The company’s clients include world-leading banks, insurance companies, real estate developers, housing agencies, and more. Prior to this acquisition, TCAM had already been using MRI’s Investment Central product as part of its asset management offering.

“TCAM has been an MRI client for 10 years and, throughout our relationship, we have been highly impressed by the team’s deep expertise in affordable housing and tax credit asset management,” said Stan Price, Senior Vice President of Investment Solutions at MRI Software. “TCAM’s asset management and advisory services are a natural extension of MRI’s comprehensive investment and property management software and data management services, enabling MRI to provide a complete solution for affordable housing investors, syndicators, owner/operators, and housing agencies.”

“MRI has been bringing cutting-edge technology solutions to the affordable housing industry, and we’re excited to build on that momentum,” said Jenny Netzer, Chief Executive Officer of TCAM Asset Management. “Our comprehensive asset and portfolio management services perfectly complement MRI’s investment management and property management offerings. As part of MRI, we believe we can help clients achieve better results from their affordable housing assets.”

In addition to today’s announcement, MRI acquired IPM Software, a provider of affordable housing property management, accounting and compliance solutions, last month. Both MRI Software and TCAM Asset Management are exhibiting at Affordable Housing Finance’s upcoming AHF Live event at the Hyatt Regency in Chicago, November 12-14. Jenny Netzer and Allen Feliz, Managing Director, TCAM, will moderate a pre-conference workshop entitled “Intro to Asset Management” on Monday, November 12 from 8:30am to 12:00pm.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Chet Murray
LEWIS
mrisoftware@teamlewis.com

The post MRI Software Acquires TCAM Asset Management to Boost Affordable Housing and Investment Management Expertise appeared first on MRI Software.

MRI to Lead Educational Session and Highlight Future Vision for Public Housing

ATLANTA – Oct. 24, 2018 – MRI Software LLC, a global leader in real estate software solutions, today announced its plans to showcase its public housing solutions and lead a speaking session at the NAHRO National Conference. MRI has built its public housing offerings and knowledge base in the past year using the industry expertise gained with three strategic acquisitions that the company is now leveraging to transform the industry. MRI will highlight these developments at the NAHRO National Conference at the Hyatt Regency in Atlanta, October 25-27.

MRI’s acquisitions of Tenmast Software, HAB Inc. and HAPPY Software, combined with the company’s robust accounting and financial management solutions, deep property management expertise and scale, uniquely position MRI to provide the public housing sector with previously unmatched innovation. Already, MRI clients have a higher average PIC score – a HUD compliance metric – than any other company’s clients, and MRI serves nearly 35 percent of U.S public housing authorities (PHAs).

MRI recently previewed its new public housing platform for clients during select sessions at its International Users Conference (IUC). These public housing sessions, which included presentations on product development and vision, software best practices and a HUD-led update on its new cloud-based information center and inspections standards, drew nearly 250 attendees. These face-to-face client interactions allowed MRI to help users better understand the next-generation changes it has in store while collecting direct feedback and strengthening its relationships.

“We were already excited about the new solution, and after getting the opportunity to see it in person at MRI’s users conference, that anticipation has only increased,” said Channie Butler, Business Analyst, King County Housing Authority. “Everything is at your fingertips, the dashboards provide a modern feel, and it’s easy to find what you’re looking for. As part of the user working group, we appreciate MRI giving us the forum to share feedback and opinions, and we plan to continue our role in helping MRI make the best public housing platform available.”

“As our recent acquisitions and investments illustrate, MRI is intent on revolutionizing software for public housing. The feedback from clients has only reinforced our belief that this is an industry ready for modernization” said David Carner, Senior Vice President of Residential Solutions at MRI Software. “The combination of Tenmast, HAB and HAPPY’s solution sets and industry expertise with MRI’s own experience and resources is truly unmatched in the industry. We’ve been getting fantastic client guidance in our development process, including at our recent users conference, and we’re excited to give PHAs improved ability to manage properties, connect with tenants, simplify accounting processes and more, all while maintaining HUD compliance.”

MRI Software will exhibit its public housing solutions at NAHRO in Booth 231. Additionally, Mark Lewis, product manager at MRI, will lead a session titled “Implementing and Utilizing SAFMR” on Thursday, October 25, from 10:15 a.m. to 11:45 a.m. The session will cover frequently asked questions as PHAs implement Small Area Fair Market Rent requirements and includes PHA case studies demonstrating successful implementation of the requirements.

Supporting Resources

• Data sheet: MRI Public Housing Management software

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Chet Murray
LEWIS
mrisoftware@teamlewis.com

The post MRI Software Brings Next-Generation Public Housing Solution and Expertise to NAHRO National Conference appeared first on MRI Software.

US Aviation Group (USAG) has selected MRI Software’s (MRI) fixed asset accounting software to better manage the depreciation of its 2,000+ assets across three sites. The new software will replace its largely manual based processes which had become not only onerous to maintain, but lacked the financial reporting capability required.

As a Federal Aviation Administration approved CFR Part 141 flight academy, USAG is a leading provider of ab-initio flight training services to students around the world. With 240 staff employed across its three North Texas campuses, it trains over 400 cadets annually from ‘zero time’ to Commercial pilot. The organization prides itself on being one of the top choices for aviation education, providing the highest quality of flight instruction and training possible.

USAG will use MRI’s fixed asset accounting software to centrally record and track all financial information relating to its $21.5M asset base, consisting of such items as fixed and rotor wing aircraft, flight simulators, leasehold improvements, furniture, and computer equipment. Justin Sykes, Assistant CFO at USAG comments, “We had previously been using a combination of spreadsheets and another fixed asset program to manage depreciable assets and generate reports, however, the software did not allow for units-of-activity depreciation, a key requirement for USAG, which depreciates certain aircraft components over their hour-limited lives.”

Sykes continues, “Being able to manage our complex depreciation requirements within one system going forward will massively simplify the process and enable us to confidently provide our auditors with accurate financial data.”

Keen to set in place a more structured approach to managing its assets and to benefit from improved time and cost efficiencies, USAG went in search of a specialist solution and quickly realized that MRI’s proven asset accounting software ticked all boxes. Sykes comments, “MRI’s system was the most user friendly and feature rich, that was coded with the correct accounting ‘logic’, including a full understanding of our different depreciation methods.”

Another key factor in USAG’s decision to select the software was its flexibility to add custom fields to track insurance and property tax values on assets, while also providing the ability to link related assets with parent/child dependencies. Its excellent reporting capabilities and facility to create custom reports further sealed the deal, in particular, being able to report net book value and total insured value by airframe.

“We anticipate to save approximately 2-3 hours of our assistant controller’s time each month by shelving our cumbersome spreadsheet-based system,” comments Sykes. He continues, “However, we believe the greatest benefit will be realized at year-end when we have to generate a fixed asset rollover complete with detailed addition/disposal reports. This process previously took days, which we now expect to complete within a few hours.”

Sykes concludes, “I am very impressed so far with the software and level of expertise and professionalism demonstrated by our on-boarding specialist and look forward to getting up and running with the system to improve efficiencies and productivity across the organization.”

The post USAG will use MRI Software’s fixed asset accounting software appeared first on MRI Software.

MRI Recognizes Phillips Edison & Company, CBRE, Village Green and VTS for Innovative Use of Technology to Drive Business Impact at its International Users Conference

ATLANTA – October 15, 2018 – MRI Software LLC, a global leader in real estate software solutions, today presented the inaugural MRI Innovation Awards at its International Users Conference (IUC) in Atlanta. Awards were presented in four categories – Impact, Flexibility, Ambassador of the Year and Partner of the Year – to honor MRI clients that realized meaningful business impact leveraging MRI’s powerful, open and connected software.

“Our incredible roster of clients and partners are the foundation of MRI, and we’re so proud of how many of them are with us at our 2018 North American IUC,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “These four award winners, in particular, stood out over the past year. Not only are they providing exceptional value to their clients, they are doing amazing work to pioneer advancements in real estate technology and push the limits of what’s possible for the industry.”

2018 MRI Innovation Awards – Impact: Phillips Edison & Company (PECO)
Phillips Edison, a nationwide owner and manager of grocery-anchored shopping centers, received the Impact Award for its pioneering use of robotics and machine learning in concert with MRI solutions. The result has been increased business productivity through optimized decision making, enhanced cross-functional data sharing and heightened analytical precision.

2018 MRI Innovation Awards – Flexibility: CBRE Group
CBRE Group, the world’s largest commercial real estate services and investment firm, was honored for its innovative use of the MRI Information Exchange (MIX) APIs to connect its own proprietary systems with MRI’s financial and accounting platform. As a result, CBRE was able to streamline data audits, simplify reporting and reduce manual processes.

2018 MRI Innovation Awards – Ambassador of the Year: Mirriam Livingstone, Village Green
Mirriam Livingstone, vice president of operations services at Village Green, one of the nation’s largest apartment property management companies, has made exemplary contributions and displayed strong leadership in the real estate community. Mirriam and her team actively participate in MRI users groups, and they have provided instrumental input into MRI’s residential management feature sets and partner integrations. As a genuine advocate for her organization, Mirriam’s collaboration with MRI has truly helped shape the future of real estate software.

2018 MRI Innovation Awards – Partner of the Year: VTS
VTS, the commercial real estate industry’s leading leasing and asset management platform, was selected as an outstanding member of MRI’s Partner Connect program. VTS ranks among MRI’s highest rated partners in client satisfaction, offers the capability to integrate with MRI’s solutions across the world to serve clients globally, and has one of the highest adoption rates of any partner among MRI clients. The commercial success of this partnership is possible through the strength of the VTS solution and the active, close collaboration between the MRI Partner Connect and VTS teams.

The MRI International Users Conference is an annual event that brings MRI staff, clients and partners together for educational sessions, hands-on product training and networking. Due to the company’s significant international growth over the past twelve months, MRI is expanding to host regionally focused conferences. MRI will host an EMEA International Users Conference in London on December 5, 2018, and an APAC International Users Conference in Sydney on March 19-20, 2019.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Chet Murray
LEWIS
mrisoftware@teamlewis.com

The post MRI Software Honors Real Estate Technology Leaders with 2018 MRI Innovation Awards appeared first on MRI Software.

SOLON, Ohio – October 15, 2018 – MRI Software LLC (“MRI”), a global leader in real estate software solutions, today announced MRI Debt Management, a web-based accounting solution for the real estate sector. Built on the company’s flagship Platform X accounting and property management solution, MRI Debt Management enables real estate owners and investors to increase operational efficiency and reduce the risks of bad data by moving their debt management accounting out of error-prone and cumbersome spreadsheets into a tool that is fully integrated with MRI General Ledger.

Real estate accounting teams have historically struggled with relying on spreadsheets to accurately account for their loans, leading to discrepancies and additional work to reconcile loan transactions. In addition, a lack of debt visibility can cause real estate organizations to incur debt penalties and miss re-finance opportunities.

Whether debt functions as a liability or an asset, MRI Debt Management aggregates all debt information including loans and their terms, abstract and contractual information and lenders. Additionally, the application’s calculation engine computes all future principal and interest payments over time through the maturity of any loan, giving users insight into all commitments over the entirety of the loan. These calculated payments can create journals to post directly into MRI’s accounting platform, reducing inefficient and error-prone spreadsheet calculations and manual creation of journal entries. The system also allows users to simplify the management of escrow payments.

“Small real estate organizations may be able to function managing their debt in spreadsheets, but as soon as you have more than a few contracts or more complex agreements, it becomes unmanageable and leads to business risk,” said Stan Price, Senior Vice President of Investment Solutions at MRI Software. “The addition of MRI Debt Management to our accounting offering enhances the reliable, real estate-dedicated software solutions already enjoyed by our clients. Featuring a central database of all debt contracts and a robust debt calculation engine that are fully integrated with MRI’s accounting platform, this solution offers a comprehensive, actionable view of any organizational debts – past, present and future.”

MRI Debt Management is available to current MRI clients immediately. The tried and trusted calculation engine is already in use today by clients around the world, including Oxford Properties, Derwent London, Charter Hall and Growthpoint Properties as part of MRI’s Fund Modeling and Asset Modeling products.

Supporting resources:

• Debt Management data sheet
• Whiteboard Wednesday Video: Debt Management

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contact:
Chet Murray
LEWIS
mrisoftware@teamlewis.com

The post MRI Software Announces Debt Management for Real Estate appeared first on MRI Software.

IPM’s Expertise Furthers MRI’s Ability to Provide Innovation and Scale to the Affordable Housing Market

Solon, Ohio – Oct. 10, 2018 – MRI Software LLC, a global leader in real estate software solutions, today announced the acquisition of IPM Software, a provider of property management, accounting and compliance solutions for the affordable housing industry. IPM brings deep affordable housing expertise and market share, furthering MRI’s continued scale and growth in a key market. MRI solutions are used to manage more than half of all affordable housing units in the U.S.

Headquartered in Texas, IPM Software serves hundreds of clients with its affordable housing property management and contract administrator solutions. IPM’s CornerStone management solution is available as self- or cloud-hosted software and includes easily customizable modules for rent, payables, ledger, work order, and compliance for HUD and Low-Income Housing Tax Credit (LIHTC) that allow users to create the best solution for their unique needs, a concept that is strongly aligned with MRI’s commitment to flexibility.

IPM’s CaTRACr contract administrator solution implements core tasks associated with HUD certifications to build and audit vouchers, send certifications to HUD and electronically disburse payments to owners or agents. This represents a new addition to MRI’s affordable housing portfolio serving the organizations that create and distribute HUD vouchers.

“The affordable housing market is actively seeking innovation, and we are answering the call. We’re now in position to do that across the industry, leveraging modern technologies and an unparalleled team of affordable housing specialists,” said David Carner, Senior Vice President of Residential Solutions at MRI Software. “IPM’s hundreds of years of combined expertise, strong client list and robust solutions perfectly complement MRI’s core competencies as we prepare for the launch of our next-generation, web-based, affordable housing solution in the first half of 2019.”

MRI’s suite of affordable housing solutions extends from property management and compliance to investment management and, now, HUD voucher processing for contract administrators. Four of the five largest affordable housing developers and 22 of the top-50, as ranked by Affordable Housing Finance, rely on MRI for asset and property management, while each of the ten largest banks in the U.S. access MRI’s Investor Connect portal to monitor affordable housing investments.

“Combining our experience and knowledge with MRI’s well-established real estate software capabilities positions us to match the needs of an ever-changing market at scale with continued innovation,” said Bill Sullivan Jr., President at IPM Software. “This acquisition reflects a bright future for MRI, IPM and affordable housing owners and managers.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Chet Murray
LEWIS
mrisoftware@teamlewis.com

The post MRI Software Expands Affordable Housing Leadership with Acquisition of IPM Software appeared first on MRI Software.

SOLON, Ohio – August 14, 2018 – MRI Software today announced that it was named the winner of a Silver Stevie® Award in the Large Computer Software Company of the Year category in the 15th Annual International Business Awards®.

The International Business Awards are the world’s premier business awards program. All individuals and organizations worldwide – public and private, for-profit and non-profit, large and small – are eligible to submit nominations. The 2018 IBAs received entries from 74 nations and territories.

Nicknamed the Stevies for the Greek word for “crowned,” the awards will be presented to winners at a gala awards banquet at the InterContinental London Park Lane Hotel in London, England on 20 October.

More than 3,900 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories. MRI’s award recognizes the company’s radical vision for and commitment to an open and connected proptech ecosystem, as well as its extraordinary growth and product innovation. MRI gives its clients the freedom to integrate with third-party applications from more than 130 providers in its Partner Connect ecosystem, including software that competes with its own offerings. Membership in the Partner Connect program grew by nearly 65% from 2016 to 2017. Further, MRI saw a 38 percent increase in organic bookings and 81 percent growth in new clients over 2016, not including revenue and clients from the eight acquisitions the company made in 2017.

Judges were particularly impressed with the company’s open approach to integrating with other software providers, including some whose applications compete with MRI. Comments included:

• “Great real estate software, which enables real estate companies to integrate nearly any software with the MRI platform, so they can choose the perfect solution for their company.”
• “When you are comfortable with giving your clients the freedom to integrate your software with third-party applications, you enable them.”
• “Definitely [MRI Software] took a step ahead of others in this specific domain of business and stood prominent.”

“Winning the Silver Stevie for Company of the Year in computer software is a fantastic validation of the incredible work the MRI team has done over the past few years,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “While other real estate technology providers offer a limiting, one-size-fits-all, single-stack approach, MRI’s open and connected platform gives its clients the freedom to create a unified Single Experience that meets their unique business needs. MRI’s strategic international expansion combined with our open approach to real estate software has resonated strongly with the market, fueling our rapid growth. We are proud to accept this award from the Stevies.”

Stevie Award winners were determined by the average scores of more than 270 executives worldwide who participated on 12 juries.

“This year’s Stevie Award winners in the IBAs are the most distinguished group of winners we’ve had yet,” said Michael Gallagher, president and founder of the Stevie Awards. “We raised the minimum average score from the judges required to qualify as a Stevie winner, so 2018 winners should be especially proud of their achievements. We look forward to presenting their Stevies to them in London on October 20, and to telling their stories over the coming year through Stevie Awards media.”

Details about The International Business Awards and the lists of Stevie Award winners are available at www.StevieAwards.com/IBA.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

About the Stevie® Awards
Stevie Awards are conferred in seven programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 10,000 nominations each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at www.StevieAwards.com.

Media Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post MRI Software Wins Silver Stevie® Award in 2018 International Business Awards® appeared first on MRI Software.

Bookings for Q2 2018 Were 69 Percent Higher than the Same Period a Year Earlier; EMEA Experiences Largest YoY Percentage Growth

SOLON, Ohio – August 21, 2018 – MRI Software LLC (“MRI”), a global leader in real estate software solutions, today announced another successful quarter of worldwide growth. In the second quarter of 2018, global demand for MRI Software’s comprehensive and connected suite of real estate solutions continued to accelerate, boosting quarterly bookings to an all-time high that was 69 percent more than the same period in 2017.

All global regions experienced significant growth, though EMEA delivered the largest year-over-year percentage growth. The company added 166 new clients in Q2 2018, which is 60 percent more than it won a year earlier, and the number of employees grew by 65 percent.

MRI’s global growth strategy of providing open and connected software continues to gain momentum, marked particularly by key accomplishments in EMEA:

• Grainger plc, the UK’s largest property landlord with a portfolio of more than 9,000 residential properties valued at £2.7 billion, has chosen MRI as its core software platform to power its digital transformation and growth in the emerging private rented sector (PRS).
• Release of a new version of the MRI Residential Suite for the UK includes functionality that addresses the unique needs of the UK PRS market. MRI collaborated closely with UK PRS leaders to adapt the software.

MRI maintained its aggressive approach to growth with two acquisitions in early July: PropSys, a property software solution provider based in Johannesburg, South Africa, and CML Software, a Reading, UK-based provider of residential agency, block management and build-to-rent solutions. These moves mark MRI’s third acquisition in the UK, following its 2017 purchases of Qube Global Software and Real Asset Management, and its second in South Africa, following its December purchase of MDA Property Systems.

“I could not be more proud of the MRI team and our achievements in Q2,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “We’ve been on an aggressive growth path, but our people have remained focused. The global market is clearly embracing our open and connected approach to real estate software, and our results speak to both the quality of our solutions and the value we’re creating for our clients.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-6413

The post MRI Software Announces Record Quarter Driven by Growth in All Worldwide Regions appeared first on MRI Software.

MRI Reinforces Commitment to the UK and the Evolving PRS Market

London – July 12, 2018 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of CML Software, a Reading-based provider of residential agency, block management and build-to-rent solutions. This acquisition demonstrates MRI’s continued commitment to the United Kingdom residential market and expands its range of software solutions for sales, lettings and property management. The acquisition will add additional top tier agency market names into the MRI client base, strengthening the organisation’s position as the largest commercial real estate software provider in EMEA, serving more than 2,500 clients in the region.

“We are very pleased to welcome CML to the MRI Software family of companies,” said Dermot
Briody, Executive Managing Director for Europe at MRI. “CML’s software for residential
agencies and portfolio management rounds out MRI’s comprehensive offering for the diverse
UK residential market. Further, CML adds flagship clients to MRI’s extensive roster
and further enhances our team of experts on the ground in the United Kingdom. As we continue to invest in and enhance the solutions of all our recent acquisitions, including CML and Qube Global Software, our expanded footprint in the UK will enable us to even better serve and support our EMEA clients.” Briody adds. “The acquisition brings together two fast-growing organisations and delivers the opportunity to further increase market share for MRI, in a sector where many other existing players are being disrupted by market dynamics.”

CML Software’s solutions are specifically designed to address the needs of multi-office estate and lettings agencies, with robust analytics, multi-level reporting, and detailed permissions and role management. CML’s agency-branded web and mobile portals enable anytime, anywhere engagement with today’s digitally-oriented vendors, landlords and tenants. Adding these to the portfolio of solutions already on offer will create even more choice and flexibility for clients and allow for further development of the product suite through greater expertise and resources.

“MRI Software is the largest commercial real estate software company in EMEA, and, given how well our solutions fit within their suite, this acquisition will benefit CML’s clients by providing greater resources for support and access to a broad set of innovative proptech solutions,” said Al Chetwode, Managing Director at CML Software. “Meanwhile, MRI’s clients stand to benefit as well from the complementary solutions we are bringing to the MRI family. It’s a great combination, and we’re proud to join MRI.”

CML Software is MRI Software’s third acquisition in the UK, following its acquisitions of Qube and Real Asset Management in 2017. It is also MRI’s fifth acquisition in the EMEA region and its ninth acquisition overall since September 2017. CML, Qube and MRI clients will continue to be served without interruption while near-term integration activities focus on providing expanded offerings to all clients. Shea & Company acted as the exclusive financial advisor to MRI Software and their private equity sponsors, GI Partners and TA Associates.

Supporting Resources

• MRI Software Announces New Residential Proptech Solution for the UK
• MRI Software Acquires Qube Global Software

About CML Software
CML Software provides enterprise software to multiple-office sales and letting agents, as well as large property management and block management companies. The company’s products cover a range of disciplines from CRM capabilities through to property management, renewals, client accounting, portfolio accounting and block management. With a reputation for reliability and technical excellence, CML’s software works flexibly through the complete property business cycle to add efficient control, automation and process simplification at the same time as delivering tangible business value. For more information please visit cmlsoftware.com

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post MRI Software Expands UK Residential Proptech Offerings with Acquisition of CML Software appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

The 10-event series of Qube PM Roadshows and User Groups has concluded, with record numbers of clients in attendance.

Sessions, which ran throughout June and early July, focused primarily on the new Advance Package. The exciting proposition represents the evolution of the product for all users, allowing its full power and capability to be harnessed through the use of industry-standard technology tools and a managed service.

Time was also dedicated to looking in depth at the Qube PM 2018 release – including the new user interface and functionality enhancements. The team also talked through the new Property Manager Portal, affording users the opportunity to access key information while mobile.

Our thanks to everyone who attended any of the 10 dates in London x 3, Belfast, Winchester, Dublin, Brighton, Manchester, Birmingham and Newcastle. The opportunity to meet and engage with clients – and further develop our partnership – is a crucial element of our ongoing effort to meet and exceed your requirements.

That’s exactly why we’ll once again be hosting our flagship annual client conference, which was announced at the Roadshows and User Groups for Wednesday, 5 December at the Royal Lancaster London. Incorporating organisations from across the MRI Software family, of which Qube is now a part, the event will be the largest-ever single-vendor proptech event in the UK.

Registration details will be announced soon.

The post Summer success for Qube PM Roadshows | 11 July appeared first on MRI Software.

SOLON, Ohio – July 10, 2018 – MRI Software LLC (“MRI”), a global leader in real estate software solutions, today announced that Clarion Partners, a global real estate investment firm with $45.6 billion in assets under management, has selected MRI Investment Accounting as its fund accounting solution in concert with Clarion’s existing deployment of MRI’s property management and accounting platform.

Clarion Partners was evaluating solutions to enhance its portfolio accounting functionality, including identifying opportunities to improve efficiency, strengthen controls, and support complex investment structures. After a rigorous due diligence process, Clarion Partners chose MRI Investment Accounting as its portfolio accounting solution.

“MRI Investment Accounting will allow us to maintain records at each level from the underlying asset up to the client ledger within our accounting system, which will significantly streamline our internal operations,” said John Wanamaker, Chief Technology Officer of Clarion Partners. “Automating the rollup was a central requirement of our evaluation process and will give us full transparency through all levels of the ownership structures.”

The flexibility and openness of MRI’s Platform X also influenced Clarion’s decision. Specifically, MRI’s open and connected architecture ensured that Clarion could integrate additional future software into its MRI deployment.

“MRI’s approach to working with partners and facilitating integrations was a major factor in our decision,” Wanamaker said. “Our requirements will continue to evolve with our client’s needs, and MRI’s flexibility will allow us to extend our capabilities as needed and bring in best-of-breed solutions.”

Built on top of MRI’s flagship Platform X, MRI Investment Accounting automates the consolidation of property data and financials for even the most complex fund structures. The solution will enable Clarion Partners to track all investments, from clients through portfolios down to individual assets, helping to streamline the audit processes and enhance data integrity.

“For real estate organizations struggling to manage complex investment structures, MRI’s Investment Accounting automates the creation of financial statements, payment of contributions and distributions via waterfalls, and delivery of up-to-date reporting to internal and external stakeholders,” said Stan Price, Senior Vice President, Investment Solutions at MRI Software. “Our open and connected approach to software gives real estate firms a flexible portfolio accounting solution that scales as their business grows.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-6413

The post Global Real Estate Investment Firm Clarion Partners Selects MRI Software’s Investment Accounting Solution to Automate and Manage Fund Accounting appeared first on MRI Software.

MRI Reinforces Commitment to Growing African Market

London – July 4, 2018 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of PropSys, a property software solution provider based in Johannesburg, South Africa. Founded in 2003, but with institutional and market experience in the region that goes back to 1977 thanks to an acquisition of its own, PropSys has established a strong foothold in the South African market with nearly 200 clients and a solutions portfolio that serves real estate companies of all sizes. This acquisition, in conjunction with MRI’s recent acquisition of Cape Town-based MDA Property Systems, makes MRI the clear market share leader for commercial real estate software in South Africa and the surrounding region and solidifies MRI’s position as one of the largest players in the African continent and the Middle East.

“Bringing the PropSys suite of products under the MRI umbrella strengthens our presence in the region not just by growing our pool of real estate talent in South Africa to more than 50 and giving us a commanding market share, but also by providing access to the deep relationships and market knowledge that PropSys has acquired over the past 15 years,” said Mark Fairweather, Managing Director, Africa, for MRI Software. “With the combined strength of MRI, MDA and PropSys, we’re in a terrific place to continue helping real estate companies in Africa and the larger EMEA region take their business where they want to go for years to come.”

MRI Software will continue to support PropSys property management and financial solutions, and clients will receive the same level of exceptional service. In addition, PropSys clients will benefit from MRI’s comprehensive software portfolio and commitment to product innovation. The breadth of MRI’s solutions set will offer PropSys clients new avenues to increase their efficiencies and facilitate the growth of their businesses. The MRI Investment Suite, for example, features MRI Global Valuations which allows clients to quickly and accurately value complex commercial assets, while the MRI Financials Suite includes MRI Fixed Assets accounting software, a comprehensive solution that maximizes tax benefits, improves compliance and increases asset ROI.

“The opportunity to join MRI at a time of such exciting growth in the real estate sector, both in South Africa and across the world, was simply too good to pass up,” said Marius Vermeulen, CEO of PropSys. “With MRI’s expansive software capabilities, global reach and commitment to South Africa and Africa as a whole, I have the utmost confidence that the combination of our companies will help our clients reach new heights.”

PropSys is MRI Software’s second acquisition in South Africa, following its acquisition of MDA Property Systems in December 2017. It is also MRI’s fourth acquisition in the EMEA region and its eighth acquisition overall since September 2017. This expansion mindset, in combination with MRI’s commitment to its comprehensive and open real estate software platform, has fueled significant revenue, bookings and new client growth.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge.

About PropSys
PropSys offers property management solutions for the real estate industry on hosted and on-premises platforms since 1977. Clients include managing agents, property owners, corporate entities and listed property funds. PropSys has excellent client relationships that dates back over four decades, with products for the real estate industry that create efficiency, leverage economies of scale and serve clients with innovative, user-friendly reporting and online functionality.

Media Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post MRI Software Acquires PropSys, Cementing Position as South Africa’s Leading Provider of Commercial Real Estate Software appeared first on MRI Software.

MRI Residential Suite Delivers Powerful Features that Address the Unique Business Requirements of the U.K. Private Rented Sector

SOLON, Ohio – June 27, 2018 – MRI Software LLC (“MRI”), a global leader in real estate software solutions, today announced its industry-leading residential proptech solution is generally available in the U.K. to meet the unique needs of the emerging private rented sector (PRS) market. In bringing its Residential Suite to the U.K., MRI collaborated with U.K. PRS leaders to adapt the software to address the emerging needs of residential managers contending with significant investment and change.

According to a 2017 report from Knight Frank, nearly one in four households in England will be living in rented properties by 2021. As the demand for rentals continues to rise, large-scale investment in multi-housing and build-to-rent schemes has also risen, particularly in London. Tech-savvy renters expect a streamlined level of service that can be accessed from their smartphone, yet 88 percent of residential managers in the U.K. feel unprepared to meet the demands of the growing user base, according to a survey conducted by Qube Global Software, an MRI Software company.

MRI’s Residential Suite complements perfectly the company’s existing offerings for the U.K. residential sector, including those gained through its acquisition of Qube in October 2017. These solutions are widely used in a number of residential property management disciplines, including leasehold block management, sales and lettings, as well as a number of build-to-rent operations. The company’s residential offerings support more than 7.9 million units around the world and offer residential managers in the U.K. the expansive tools they require to address the needs of a new generation of renters. A leading solution in the U.S., MRI’s Residential Suite is trusted by 88 percent of the top 50 managers and 66 percent of the top 50 owners in the National Multifamily Housing Council’s (NMHC) annual ranking to manage their residential properties.

“The PRS market in the U.K. is rapidly expanding, and MRI is proud to provide real estate organisations with an open and flexible software solution to manage and scale their PRS business,” said Dermot Briody, MRI Software’s Executive Managing Director of Europe. “Our award-winning Qube PM and SLM offerings have served the U.K. market for a number of years, and we’re pleased to now complement these solutions with an expansive suite designed specifically to meet the needs of the nation’s evolving PRS sector. Our powerful global platform has the flexibility to meet the unique requirements of U.K. residential managers, and MRI’s substantial local presence provides on-the-ground support to our U.K. clients.”

MRI’s comprehensive and flexible Residential Suite encompasses marketing and leasing functionality, property management, and prospect and resident portals. Through the marketing portal, residential managers can better attract enquirers and showcase properties by integrating with local property portals. MRI’s Residential Suite also supports applications, security deposits and holding fee payments from potential new residents. Finally, once prospects become residents, they can use the resident portal to pay online, submit service requests, check their balance, and take advantage of concierge services.

New capabilities for the U.K. market in MRI’s Residential Suite include:

• Flexible rent dates: U.K. property managers have the flexibility to adjust the monthly rent due dates for any tenant.
• Proration: Real estate organisations have the ability to prorate on an annual or monthly basis.
• Step-ups: This solution enables the rent on a multi-year tenancy to increase annually, making it easier to manage three-year lettings.
• Break clause: Property managers can set the ability for a resident to break a lease without penalty after a certain amount of time in the unit.
• Common banking: Fee managers can collect rents into a common bank and then disperse the funds into the proper accounts afterwards.

With the 2017 acquisitions of Qube and Real Asset Management (RAM), MRI is now the largest real estate software provider in the U.K. The company will continue to provide flexible software to support long-term growth and meet the evolving needs of the industry.

Supporting Resources:

• Savills Selects MRI Software’s Property Management and Accounting Solutions for its UK Private Rented Sector Business

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-6413

The post MRI Software Announces New Residential Proptech Solution for the U.K. appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Eaves Property Management Choose Qube

Eaves Property Management, a south east based managing agent, have chosen to implement Qube PM to support their block and estate management business.

Eaves Property Management, founded by Beverley Eves, are a newly formed managing agent set for a rapid expansion in their first few months and there on. They will be implementing Qube PM to ensure that they stay streamlined as they continue to grow with a technology led focus. The operational efficiency of the Qube solution will allow them to dedicate time to their clients and deliver the best possible service whilst continuing to take on more business.

Qube PM is one of the UK’s market leading property management solutions, used by more than 500 customers across the residential, commercial and retail sectors. As the supplier with the largest share of ARMA members as customers, Qube PM is clearly the system of choice for the block management sector.

Beverley Eves, founder of Eaves Property Management said “I wanted to create business with transparency and customer care at the heart of everything we do.  In parallel to efficient day to day management, our customers are increasingly requesting financial information.  We needed a package that would deliver on all aspects of property management, whilst being user friendly for our customers.  For us there was no other solution than Qube.  The investment we have made in what we consider to be the best software available to our industry should be a testimony to our customers that we really care about the service we provide.”

Dan Foryszewski, Business Development Manager at Qube said; “Bev and the team have made the right choice to implement the Qube PM solution. I am excited to start work on implementation with them, and using Qube as their foundation, see the company grow over the coming years.”

The post Eaves Property Management Choose Qube | 20 June 2018 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Our expert Qube PM team has once again embarked on a month-long series of Roadshow events, giving all clients the opportunity to learn about exciting developments in the UK’s market-leading property management platform.

Eight half-day sessions running throughout June and early July have attracted strong numbers of registrations, both from long-term clients and nearly 60 new Qube PM client organisations that have been invited for the first time having recently joined our community.

We’ll be talking about recent and substantive developments to the Qube PM product, most notably the next release due in October. These functional enhancements and technological advances will deliver even more benefits for users, allowing organisations to harness the full power of the software.

Dates for your diary

The Roadshows aren’t the only events taking place in June; we also have two seminars and a webinar that may be of interest to our Qube PM users:

Webinar: Managing Agents – Overcoming the barriers to winning new business | 21 June
Learn how residential Managing Agents can adapt and utilise market-leading technology to help win new business and maximse revenue generation.

Breakfast seminar: Harnessing the power of an Investment Suite for real estate | 21 June
Join us at world-famous The Shard as our investment experts examine the full property investment life cycle – sharing insight into how robust software capabilities can help give you the competitive edge.

Breakfast seminar: IFRS 16 – Transition in Practice | 27 June
At this event, taking place at The Shard, get unique insight and analysis based on our experience working with major commercial organisations to implement IFRS 16 software solutions.

In addition, the date has been announced for our flagship annual customer conference which will take place this year on Wednesday, 5 December at the Royal Lancaster London. Incorporating clients from across the MRI Software family of which Qube is now a part, the event will be the largest-ever single-vendor proptech event in the UK.

It promises to be a fantastic get together, offering the opportunity for us to share news on the further developments and investments being made to Qube PM in 2019 and beyond. Look out for registration information in the coming weeks.

The post Qube PM Roadshow series showcases latest developments and enhancements | 14 June appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Halfords, one of the UK’s most recognisable consumer brands, has selected Horizon to deliver complete property and lease management technology solutions across its portfolio of more than 750 nationwide locations.

As a market-leading supplier of software for retail occupiers, Qube was originally engaged by the organisation in relation to meeting its IFRS 16 requirements. However, the benefits and efficiencies possible with an end-to-end system across the property life cycle saw the project quickly develop into the adoption of the full Horizon platform.

Horizon will enable Halfords to achieve and maintain the integrity of data for more than 1000 leases across its stores and service centres. It will also be used to automate several processes, as well as empower deeper collaboration between finance and property departments.

Halfords operates primarily in two broad markets; motoring and cycling. Its retail division boasts some 165,000 product lines, with approximately 8000 employees across its stores, making it the UK market-leader in its sector. In addition, Halfords Autocentres was acquired in 2010 and provides car service, repair and MOTs to both retail and fleet customers throughout the UK.

By selecting Qube, Halfords adds its name to an extensive group of industry-leading retailers utilising the Horizon product for property management and lease accounting. The web-based solution delivers a comprehensive suite of functionality and features designed for occupier management.

“It was obvious from the start that Qube has a clear understanding of our requirements, particularly the complexities involved in dealing with a large number of retail leases and the implications of the IFRS 16 standards. We look forward to working on the next phase of the project, as we further develop our partnership with the Horizon team.” – Katie Gregory, Head of Group Reporting at Halfords.

“We are delighted Halfords has decided to implement Horizon, not just to tackle the complexities of IFRS 16 but also to manage the sizeable portfolio it occupies. Our work with another major retail enterprise is further evidence of our strength in the sector – and we’re proud to welcome one of its major names to our valued client base.” – Steven Fox, Head of CRE Solutions at Qube, and MRI Software Company.

The post Retail giant Halfords selects Qube Horizon for property management and IFRS 16 | 12 June appeared first on MRI Software.

SOLON, Ohio – June 6, 2018 – MRI Software LLC (“MRI”), a global leader in real estate software solutions, announced today that it will be exhibiting and speaking at two affordable housing conferences in June:

• The CHAM (Consortium for Housing and Asset Management) 2018 Annual Conference: MRI will exhibit at this conference in Chicago and will also present on June 12 at 4:00 p.m. in a session titled, “Using Technology to Solve Asset Management Problems.”
• NCSHA Housing Credit Connect 2018: MRI will exhibit at this conference, also in Chicago, from June 19-22 at Booth #42.

MRI provides a true end-to-end solution for clients in the affordable housing industry, from investment management to property management and compliance. More than half of all affordable housing units in the United States are managed with MRI solutions. In addition:

• Four of the five largest affordable housing developers and 22 of the top 50, as ranked by Affordable Housing Finance, rely on MRI’s solutions for asset and property management;
• The ten largest banks in the United States access MRI’s investment portal, Investor Connect, to monitor affordable housing investments; and
• Twenty-six syndicators use Investment Central for asset management, many of which also use Investor Connect to deliver their investor reports.

“We have close relationships with the major affordable investors, and many of them use MRI’s Investment Central product for asset management and investor reporting,” said Will L’Hommedieu, Asset Management Analyst at LIHC Investment Group, which owns a $5 billion portfolio including more than 37,000 affordable units. “For our part, LIHC uses Investment Central to aggregate and analyze portfolio data and manage risk across our investments. It’s an invaluable tool, providing us with insight we may have otherwise overlooked and enabling us to communicate with our own investors easily and transparently.”

Investment Central is a full lifecycle asset management solution that enables developers, syndicators and investors to manage their affordable housing real estate investments and create a more informed portfolio strategy. With Investment Central, clients can consolidate disparate investment data and documents to support comprehensive risk management and efficient reporting to stakeholders.

Additionally, Investor Connect, a secure web-based portal for investment managers, enables organizations to leverage data in Investment Central to provide on-demand access to investors, prospects and other stakeholders. From portfolio insights to property-level details, Investor Connect helps attract new investors and build current investor confidence with streamlined, comprehensive investment analysis and report distribution.

“MRI has a long-standing commitment to the affordable housing industry, and the market’s widespread adoption of MRI for asset management and investor reporting is a clear validation of how critical our solutions have become to the sector,” said Stan Price, Senior Vice President of Investment Solutions at MRI Software. “Investors, syndicators and developers within affordable housing depend on MRI, and we will continue to invest in innovation to bring even more powerful, open and connected software to this market.”

For more information on MRI’s solutions for affordable housing, please visit https://www.mrisoftware.com/solutions/affordable-housing.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-6413

The post MRI Software to Bring Affordable Housing Expertise to NCSHA Housing Credit Connect and CHAM 2018 Annual Conference appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Ground Solutions, an East Midlands based managing agent has chosen to implement Qube PM to support its block and estate management business.

The company, headed up by Mike and Rebecca Pett, manages more than 5000 homes across the Midlands. Ground Solutions has chosen Qube to help streamline its processes, reduce reliance on paper and improve communication with leaseholders.

They will be replacing an existing system to take a step forward in functionality, allowing them to grow without adding staffing overheads, and deliver even better service levels to clients.

Qube PM is the UK’s market leading property management solution, used by more than 500 customers across the residential, commercial and retail sectors. As the supplier with the largest share of ARMA members as customers and over 100 block managers in total, Qube PM is clearly the system of choice for the sector.

Mike and Rebecca Pett, Directors of Ground Solutions said: “We are very excited about the potential we will have to improve the way we work and more importantly, the service we provide.

“From our communications with customers through the tenant portal and the ease of which this can be achieved, to being more efficient in regular tasks, can only have a positive impact on our hard-working staff. We hope to continue learning new and better processes, including new features to the software as they arise, with the help of the team at Qube”.

Dan Foryszewski, Business Development Manager at Qube said; “I am looking forward to working with Mike, Rebecca and their key staff (including Misty the office dog!) to implement Qube PM. We are confident that from delivery to ongoing support, Ground Solutions and Qube will make this project a successful one and forge a long-term relationship that will benefit all of Ground Solutions’ clients.”

The post Ground Solutions UK chooses Qube | 31 May 2018 appeared first on MRI Software.

MRI Software LLC Increases Q1 Worldwide Revenue by 44 Percent, Bookings by 136 Percent and New Clients by 50 Percent Over 2017

SOLON, Ohio – May 15, 2018 – MRI Software LLC (“MRI”), a global leader in real estate software solutions, today announced another successful quarter of worldwide growth. In the first quarter of 2018, MRI continued to build on growing market demand for a comprehensive and connected suite of solutions that extends across the commercial real estate lifecycle while offering the freedom to integrate easily with other vendors’ software. As a result, MRI increased not just its growth statistics, but also its leadership position as a truly open, partner-dedicated software provider.

In the first quarter of 2018, MRI saw 44 percent worldwide revenue growth fueled by 117 new clients (a 50 percent increase over the same period in 2017) and a 136 percent increase in bookings over the same period in 2017. Additionally, MRI grew its headcount by 62 percent across all regions. Overseas, staffing in EMEA increased more than tenfold and, in APAC, grew by 61 percent.

MRI’s global growth strategy continues to gain momentum, marked by a few key accomplishments:

• Savills plc, one of the largest real estate companies in the world, chose MRI’s residential management and accounting solutions to manage its growing private rented sector (PRS) business in the U.K. Previously, Savills selected MRI for its commercial property business in key European locations. Additionally, in April, MRI Software announced that a second U.K. real estate giant, Grainger plc, has also chosen MRI as its core software platform to power its future PRS growth.
• China Electronics Standardization Institute (CESI) certification demonstrates MRI’s commitment to China, a market that offers great opportunities. MRI Platform X is now a pre-approved financial reporting solution for real estate organizations doing business in the country. In addition to the benefit to Chinese companies, real estate investors using Platform X that want to expand into China can continue to rely on MRI’s platform while meeting local business requirements.

MRI’s Partner Connect program also continues to grow and strengthen. For example, MRI introduced a new Service Partner Certification Program, which is designed to validate and demonstrate proficiency in MRI’s technology and provide educational opportunities to improve implementation, consultation, and training of clients. Partners have responded positively to MRI’s investments in Partner Connect, with attendance at its annual Partner Summit in January increasing by 44 percent.

MRI also strengthened its executive team to help support growth:

• John Ensign, previously MRI’s Chief Legal Officer, added President to his title as his duties now include oversight of MRI’s corporate shared services and overall responsibility for EMEA and APAC operations.
• Russell Butler joined MRI in the new role of Chief Technology Officer to lead product development and strategy, which are responsibilities he previously held for various global teams at Oracle, IBM and AT&T. His expertise in shepherding new products from the innovation stage to deployment and integration will be a key driver of MRI’s ongoing expansion into new geographical and vertical markets.
• Dermot Briody came to MRI as Executive Managing Director for Europe overseeing MRI’s operations in the region, including those of Qube Global Software and Real Asset Management, both of which MRI acquired in September 2017. As a result of these acquisitions, MRI is now the largest commercial real estate software provider in EMEA.

MRI maintained its aggressive approach to acquisitions adding HAPPY Software, a major player in the U.S. public housing authority (PHA) software arena, to a list of six other acquisitions since September. The move is MRI’s third acquisition in the PHA space in five months, alongside Tenmast Software and HAB, Inc., furthering the company’s vision of bringing a comprehensive, next-gen platform to the underserved PHA market and making it the largest provider in the space.

Ultimately, MRI’s growth is the result of its suite of purpose-built solutions and strong market demand for open and flexible software, a trend that has been growing across all industries. In March, MRI launched an ongoing content series to help real estate organizations identify software providers that are truly open as opposed to merely paying lip service to the demands of the marketplace.

“After an extremely active 2017, I couldn’t be more thrilled to see our growing team execute such a fantastic quarter,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “We pride ourselves on continuing to innovate and improve our clients’ experience, and this quarter’s success ultimately comes to back to our amazing clients and partners. Together, we are bringing our vision of an open and connected real estate ecosystem into reality and establishing a trajectory that has not been seen before in our industry.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541.207.6413

The post MRI Software Announces Record-breaking Q1 on Strength of its Comprehensive and Open Real Estate Tech Platform and Global Growth Strategy appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Principle Estate Management, a newly formed property management company headquartered in the West Midlands, has chosen Qube to support its ongoing business requirements and ambitious growth plans.

The company is headed up by Brett Williams, a chartered surveyor with more than 25 years’ experience and a former chairman of ARMA. Principle has implemented the Qube PM solution in the first quarter of this year to set a strong foundation on which to build the business which officially launches on 1 June.

Qube PM is the UK’s market leading property management solution, used by more than 500 customers across the residential, commercial and retail sectors. As the supplier with the largest share of ARMA members as customers, Qube PM is clearly the system of choice for the block management sector.

Brett Williams said: “With its flexibility and configurability, together with the whole package of finance, maintenance, asset management, site surveys and a tenant portal together with a powerful reporting tool, Qube was the obvious choice for us.”

Dan Foryszewski, Business Development Manager at Qube, said: “Having known Brett for several years now I am really enthused to be working with him.

“Our market-leading solution will provide Principle with a competitive advantage from day one and ensure that they operate with maximum efficiency as they scale up over the coming years. Brett has significant plans for Principle and I know his desire to provide a real quality service will be assisted by having invested in Qube early on.”

The post Principle Estate Management chooses Qube | 4 May 2018 appeared first on MRI Software.

SOLON, Ohio – April 24, 2018 – MRI Software, a global leader in real estate software solutions, today announced that Grainger plc, the U.K.’s largest listed residential landlord, has selected MRI Software’s open and connected property accounting and financial management platform to support its digital transformation and help power its expanding portfolio.

Grainger plc is the U.K.’s largest listed residential landlord, with a portfolio of 9,000 residential properties valued at £2.7 billion. Grainger has major growth plans with a commitment to invest a further £850 million into purpose-built rental housing in the U.K. by 2020.

As Grainger has shifted its portfolio toward the emerging U.K. build-to-rent market in recent years, the company has announced intentions to build a scalable technology foundation to enable its efficient, rapid growth in the sector. A first step in Grainger’s digital transformation is to deploy an open and extensible core real estate management platform to automate business processes and enable scalability without increasing administrative overhead. Grainger also needs the ability to easily integrate software from third-party vendors as it continues to build its customer-facing technology solution, complementing MRI’s open software strategy.

“At Grainger, we take pride in developing, owning and operating our properties,” said Michael Robinson, Business Technology Director at Grainger. “So, naturally, we need a proptech solution that is tailored to our unique needs and that will protect our competitive advantage. Choosing the right technology is critical as it underpins our growth plans, allows us to build an outstanding customer experience and helps control overheads and costs. We chose MRI’s property and financial management suite as we believe its open and connected approach will provide a robust core upon which to build the Grainger business and our range of digital platforms.”

The MRI solutions suite selected by Grainger includes Residential Management, a full Financials suite with AP Automation powered by Nexus Systems and Fixed Asset Accounting, as well as Facilities Management solutions.

“The future of software is open and connected,” said Dermot Briody, Executive Director for Europe at MRI Software. “Grainger’s selection of our platform demonstrates how our approach is resonating in the rapidly growing European property sector. Adopting a customer / tenant centric approach while securing an efficient management platform is critical for real estate organizations as the build-to-rent market continues to expand in Europe. Our partnership with Grainger is a testament to our capabilities in that regard.”

About Grainger PLC
Grainger, a FTSE250 business, is the UK’s largest listed residential landlord. Established in 1912, Grainger prides itself as a leading, responsible and long-term landlord. A market leader in the UK private rented sector (“PRS”) and at the forefront of the build to rent sector, Grainger invests in and provides long term, purpose-built, rental homes across the UK. Grainger has a portfolio of residential rental property assets worth over c. £2.7bn and has pledged to invest over £850m into the PRS by 2020 with £690m secured to date.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541.207.3461

The post Grainger PLC Selects MRI’s Property Accounting and Financial Management Solutions as Part of its Digital Transformation appeared first on MRI Software.

Following two major acquisitions in the region in late 2017, MRI Software has announced the appointment of its first-ever Executive Managing Director for Europe.

Experienced enterprise software leader Dermot Briody will head up the company’s operations in the region, and becomes responsible for MRI’s existing European footprint as well as Qube Global Software and Real Asset Management (RAM) which became part of MRI last September.

“The alignment of three industry-leading, award-winning companies in MRI, Qube and RAM is a tremendously exciting prospect for all involved,” said Briody.

“It expands our offering for property investors, agents, occupiers and tenants, while also providing greater scale for innovation and development. By bringing together the best of several renowned brands and products in our industry, we can proudly call ourselves the premier commercial real estate technology provider in EMEA.

“We look forward to what the future holds, as we deliver continued excellence to our combined client base here, now and for many years to come.”

With the inclusion of another acquisition – MDA Property Systems of South Africa – MRI now serves in excess of 2400 clients in wider EMEA, with the increased capabilities and expertise resulting in an even more comprehensive suite of solutions available.

The MRI Software family of companies offers powerful property management and accounting tools alongside a sophisticated suite for managing the end-to-end investment lifecycle. This is further enhanced by comprehensive corporate occupier and facilities management functionality, creating a flexible portfolio to meet the widest range of real estate technology requirements.

MRI Software: Local roots, global presence
MRI’s expanded presence in EMEA makes it a truly global company, with a far-reaching worldwide footprint that also covers the Americas and APAC. Across the world, upwards of 1200 employees serve more than 6600 client organisations representing a wide variety of real estate industry sectors.

While its operations make it one of the biggest companies of its kind, experienced and knowledgeable regional teams offer a personalised approach – with shared values that promote open and connected technology platforms to maximise choice and flexibility for clients.

MRI in Europe is one of the driving forces behind this unrivaled technology powerhouse – one that is uniquely positioned to address the varying needs of the real estate market in the region and beyond.

PR Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post MRI Software bolsters European presence with new executive appointment appeared first on MRI Software.

Third PHA Software Acquisition Expands MRI’s Solutions for Public Housing Authorities and Housing Choice Voucher Programs

Solon, Ohio – March 8, 2018 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of HAPPY Software, a provider of innovative housing solutions and services for public housing authorities in the United States. With this acquisition, MRI’s third within the public housing space in just five months, the company now serves nearly 35 percent of U.S. public housing authorities.

Based in Saratoga Springs, New York, HAPPY Software provides property management solutions to more than 465 housing agencies of every size, administering Public Housing and Housing Choice Voucher programs. HAPPY’s suite of fully configurable, web-based portal solutions help housing authorities more effectively manage key functions such as applicant and waitlist tracking, tenant screening, and online payment handling.

“For two decades, HAPPY Software has built a standard for excellence culminating in today’s impressive 98 percent client retention rate,” said David Carner, Senior Vice President of Residential Solutions at MRI Software. “The addition of HAPPY to the MRI Software family represents another milestone in our strategy to provide world-class technology solutions to the public housing sector while further scaling our footprint in the market. We intend to continue supporting HAPPY’s solution set and extend its portal offerings to our existing PHA clients, while also leveraging HAPPY’s expertise to develop a next-generation, web-based platform for the public and affordable housing market.”

In October of 2017, MRI announced the acquisitions of Tenmast Software and HAB, Inc., providers of PHA and private affordable housing management software. Taken together, MRI’s three public housing acquisitions, in addition to the company’s Affordable Housing Bostonpost solutions, make MRI a major force in the U.S. public and affordable housing software markets.

“Our mission at HAPPY Software has always been to provide public housing organizations with the very best software solutions and the highest level of service,” said Joe Mastrianni, Chief Executive Officer and founder of HAPPY Software. “Joining forces with MRI is a continuation of that mission, bringing a deep reserve of resources and innovation to develop feature and functionality enhancements that will even better serve the industry.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

About HAPPY Software
HAPPY Software is a rapidly growing company based in Saratoga Springs, NY that has been providing innovative housing software and services to housing agencies administering Housing and Urban Development (HUD) programs for more than 20 years. HAPPY Software has a well-established reputation for quality, easy-to-use products and friendly, attentive customer support. The company’s client retention rate is at least 98 percent historically.

HAPPY Software actively supports the housing industry by sponsoring events, exhibiting and advertising with several housing associations including NAHRO, PHADA, Community Action Partnership, National Leased Housing Association and many State Housing Groups.

The post MRI Software Acquires HAPPY Software, Inc., Creating a Public and Affordable Housing Tech Powerhouse appeared first on MRI Software.

SOLON, Ohio – Feb. 27, 2018 – MRI Software, a global leader in real estate software solutions, recently conducted a survey revealing that 42 percent of commercial and multifamily real estate owners and operators rely at least partly on spreadsheets or paper-based processes to manage properties. The survey also showed that more than 1 in 10 rely on spreadsheets and/or paper-based processes alone, without any additional purpose-built real estate software.

Using spreadsheets and paper-based processes to manage properties introduces a host of serious problems for a real estate organization, including:

• Cumbersome to manage: If the individuals who built the company’s spreadsheet-based system leave the organization, business-critical data may become inaccessible because no one else understands how to manage it.
• Lack of auditability: With each new version of a spreadsheet, the system becomes increasingly difficult to audit because there is no continual thread tying the reports to the original data. It’s even more difficult to audit paper-based systems.
• Business risks: Manually entering data from multiple sources into spreadsheets and paper-based systems increases the risk of errors, data security issues, and a loss of operational control.
• Scalability: Spreadsheets and paper-based systems severely limit the ability to share information, collaborate, and control access to data. Additionally, spreadsheets and paper-based systems do not integrate with other software solutions, locking companies out of technologies that could materially improve efficiency, increase customer satisfaction, attract additional leads and aid with long-term planning.

Generational Expectations for Technology
In the multifamily sector, the survey found that owner-operators are experiencing significant differences between age groups regarding the most important amenities residents seek in an apartment. The survey revealed the following disparities:

High-speed broadband and e-bill payments/rent portals rank as the two most important apartment features for students, young professionals and Millennials. These two features beat out in-unit laundry, proximity to public transportation, community storage, assigned parking and cable television for the top two spots.

For established professionals, families and middle-aged renters, high-speed broadband is still the most important amenity, followed by in-unit laundry, parking features and cable television.

For seniors and retirees, community security and in-unit laundry are the two most important features. High-speed broadband came in 12th on the list, and e-bill pay was tied for third-to-last out of a possible 24 features.

Within the commercial sector, which includes office buildings, retail, and industrial properties, respondents said that the top two services requested by tenants are electronic payments and electronic billing. These two features beat out proximity to public transportation, shared common and conference areas, and kitchen facilities.

“Our survey shows that more than 40 percent of the real estate market still relies on general-purpose spreadsheets or, even worse, paper-based processes to manage their properties,” said Brian Zrimsek, Industry Principal, at MRI Software. “Millennials and even younger generations now expect digital amenities such as e-bill pay, and many real estate organizations are falling behind in adopting more specialized real estate technology solutions. As these younger generations move into senior management roles at the companies where they work, their digital expectations will carry over into commercial real estate. Those organizations that don’t adapt will ultimately find themselves unable to compete in an increasingly digital world.”

MRI surveyed 219 real estate executives: 51 percent were VP-level or higher and 35 percent were directors, managers or property managers. As for company size, 30 percent of respondents worked at companies with more than 50 employees, 25 percent had 11 to 50 employees, and 46 percent had 10 or fewer. Many organizations operated in multiple real estate classes, with a breakdown as follows: 41 percent multifamily, 30 percent office, 21 percent retail, and 26 percent in other real estate sectors.

Please find the full report from MRI Software here.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

PR Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post Survey: More than 40 Percent of Real Estate Companies Rely on Spreadsheets or Paper-Based Processes to Manage Properties appeared first on MRI Software.

MRI Software LLC Records 38% Increase in Bookings and 81% Increase in New Clients in 2017; Company Further Expanded with Seven Acquisitions, 27 Additions to its Partner Connect Program, Three New Solutions, and Capital Investment from Private Equity Firm

SOLON, Ohio – Feb. 22, 2018 – MRI Software LLC (“MRI”), a global leader in real estate software solutions, today announced significant growth in its core business, driven by a strong market desire for a real estate software platform that offers the freedom to connect with other vendors’ software to create a solution that meets unique business needs.

In 2017, MRI’s core business (i.e., not including revenue and clients from the six acquisitions it made in the second half of 2017), saw a 38 percent increase in bookings and 81 percent growth in new clients over 2016. In the fourth quarter of 2017, MRI experienced 64 percent bookings growth and a 42 percent increase in new clients over the same period in the previous year.

In addition to its core business growth, MRI acquired seven companies over the course of 2017, expanding the company’s global reach and product offerings with new, complementary and enhanced solutions:

• ResidentCheck (February): A provider of resident screening for the multifamily real estate industry
• Real Asset Management (September): A supplier of asset management software, including asset and lease accounting, tracking, and maintenance management
• Qube Global Software (October): A UK-based supplier of property and facilities management software
• Tenmast Software (October): A provider of public housing authority (PHA) and private affordable housing management software
• HAB, Inc. (October): A provider of innovatively simple housing management software for public housing authorities (PHA)
• eCondoSystems (October): A provider of cloud-based software solutions for the condominium development and sales sector
• MDA Property Systems (December): A property management and accounting software company based in Cape Town, South Africa

In the midst of rapid expansion via acquisition and organic growth, MRI’s business is ultimately built on a commitment to an open architecture strategy that empowers clients to deploy the best solutions to match their unique needs. This makes MRI’s Partner Connect program – the ecosystem that supports MRI’s open and connected platform – one of the greatest indicators of the company’s health. In 2017, MRI added 27 new partners to the program, 17 percent more than it added in the prior year.

Additionally, MRI welcomed 59 partners to its International Users Conference, a 16 percent increase over 2016, and co-hosted 11 partner events and 22 partner webinars. MRI’s clients are ultimately the ones that benefit from these partner relationships as MRI has created 132 new APIs over the past year, making it easy for clients to integrate software from Partner Connect vendors. MRI now has more than 350 APIs in its library.

During 2017, MRI expanded its product family with three new solutions:

• MRI AnalytiX: A powerful business intelligence (BI) solution built for real estate that empowers users to visualize complex data easily, identify trends, and, ultimately, make better, faster decisions around property management, finance and investments
• MRI Inspections, powered by HappyCo: A mobile inspections solution that provides real-time intelligence to reduce costs, optimize turn, and drive quality assurance across multifamily real estate portfolios
• MRI Fixed Assets: A comprehensive solution for real estate owners and operators to better manage accounting, maximize tax benefits, improve compliance, and increase the ROI of their assets

Finally, in May, MRI received a strategic investment from TA Associates, a leading global growth private equity firm, which joined GI Partners in ownership of MRI.

“2017 was the most exciting year we’ve ever had at MRI, and not just because of how quickly we’ve grown, but also because our commitment to an open and connected platform is strongly resonating in the marketplace,” said Patrick Ghilani, Chief Executive Officer at MRI Software LLC. “While we’ve become much larger in terms of our global physical presence and have expanded and improved our offerings vertically, we view that as an opportunity to continue executing our strategy of offering clients the freedom to choose the best software to create the perfect solution for their business. The 2017 results speak for themselves, laying an incredible foundation for even greater achievement and client success in 2018.”

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACT:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post MRI Software’s Open and Connected Approach to Real Estate Solutions Drives Exceptional Growth in 2017 appeared first on MRI Software.

Certification Automates Mandatory Accounting Audit Filings for Real Estate Organizations in China and Facilitates Expansion of Multinational Companies into China

SOLON, Ohio – Feb. 7, 2018 – MRI Software, a global leader in real estate software solutions, today announced that MRI Version X, the company’s flagship property management and accounting software, has met all testing and certification requirements from the China Electronics Standardization Institute (CESI). As a result, MRI Version X now provides approved mandatory financial reporting for real estate organizations doing business in China, enabling clients to meet regulatory requirements without incurring time-consuming and costly system audits themselves. Additionally, global real estate investors using MRI Version X in other markets can more easily expand into China, relying on MRI’s unified platform to streamline operations and provide global visibility into portfolio performance, while supporting local country statutory and business requirements.

“The Chinese real estate market presents significant opportunity from both local investment and cross-border capital,” said Stephen Baker, vice president of global and strategic markets at MRI Software. “This certification demonstrates MRI’s commitment to the Chinese market, the larger Asia Pacific region and, of course, delivering solutions that provide local and global flexibility. Not only does this certification simplify auditing for MRI clients in China, but it also means that real estate owners with global portfolios can use the same MRI Version X platform across all their operations, including those in China.”

MRI Version X was certified for the National Audit Office of the People’s Republic of China (CNAO) standard GB/T 24589.1-2010. All enterprises doing business in China are required to report information to CNAO in the required XML file format mandated by this standard. Previously, users had to complete their own certification application before submitting their file; clients in China can now use MRI Version X to generate pre-certified accounting data files and send them directly to the audit office. This user-friendly regional feature eliminates costly manual process and work-arounds, as it is specifically designed to facilitate regulatory compliance in China.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
+1-541-207-3461

The post MRI Version X Property Management Software Receives China Electronics Standardization Institute (CESI) Certification appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Qube are pleased to announce that Dixons Carphone plc, a FTSE 250 multinational retailer, have chosen Horizon to manage their occupied and sub-let portfolio as well as their IFRS 16 leasing requirements.

Dixons Carphone plc is Europe’s leading electrical and telecommunications retail and services company employing over 42,000 staff – across nine countries. In the UK & Ireland its primary brands include Currys PC World, Carphone Warehouse, Dixons Travel and Team Knowhow with an extensive and diverse portfolio of over 1500 locations.

With the introduction of the new leasing requirements taking affect from 2019, the complexities surrounding leasing requirements from turnover rents and rent-free periods, to capturing all of the required data for IFRS 16 was fundamental in the adoption of an end to end system that would future-proof the business. Horizon will automate and facilitate this along with cross departmental collaboration between the real estate department and group finance.

“We look forward to further developing our working relationship with Qube to implement Horizon for the day to day management of our complex and varied UK & Ireland property portfolio whilst delivering our future IFRS 16 reporting capability” – Paul Grafton, Head of Property Assets & Estates at Dixons Carphone plc.

“We are delighted to welcome Dixons Carphone as a Horizon customer and look forward to forming a long term partnership. This now means that we have added another leading retailer to our extensive occupier customer base” – Tom Price, Business Development Manager at Qube, an MRI Software Company.

About Horizon

Horizon is a web based solution built on the latest technology, with intuitive user interface that makes the system easy to use. Horizon delivers a comprehensive suite of functionality and features that are specifically designed for occupier management, catering for all types of properties both leased and owned, including your sub tenancies. With the system also set up to manage IFRS 16/ASC 842 requirements, Horizon is an end to end lease accounting and lease management solution being used by industry leading occupiers globally.

The post Dixons Carphone plc selects Horizon for IFRS 16 and Property Management | 6 February 2018 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are delighted to announce that Goadsby are celebrating their 30^th year as a Qube customer.

Goadsby are one of Qube’s longest standing clients, implementing the award-winning property management solution Qube PM in one of its earliest versions, in 1988. Over the last 30 years, upgrades in technology and improvements in functionality have continued to meet Goadsby’s requirements, and we are proud to be their committed business partner.

Goadsby are continuing to innovate with our solution, with a project lined up to further streamline their property management processes by utilising Qube’s maintenance management functionality.

Paul Stewart, Managing Director at Goadsby said “Goadsby turns 60 in 2018 and to have shared 30 years of that with the same property management service provider speaks volumes for the customer service levels we receive. We are also impressed with the continued investment and innovation of Qube’s products. Property management is at the core of our commercial business and it is therefore essential we have reliable and efficient systems to enable us to perform our service for clients at the highest level. Qube delivers on all financial, diary, and inspection fronts“.

Tom Phillips, Account Manager for Goadsby said “It is fantastic to have a 30-year long relationship and we hope to bring Goadsby 30 more years of innovation and partnership”.

The post Goadsby celebrate 30 years as a Qube customer | 5 February 2018 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are delighted to announce that Rebbeck Brothers, a firm of ARMA accredited chartered surveyors, have chosen to implement Qube to support their block and commercial management business.

Rebbeck Brothers, based in Bournemouth, have been providing property services in the south coast area for over 170 years; and currently manage over 2000 units.

Qube will implement the award-winning property management solution Qube PM, to improve on existing accounting procedures and implement robust processes to scale for future growth.

Matthew Strong, Managing Director at Rebbeck Brothers said: “We selected Qube following a beauty parade of software providers – their program stood out as the market leader and offered a comprehensive solution to help us streamline our business procedures and concentrate on customer service and adding value”.

Daniel Foryszewski, Business Development Manager at Qube Global Software added: “It is fantastic that Matthew and the management team at Rebbeck Brothers are going ahead and implementing Qube. I am looking forward to starting work with them to achieve operational efficiencies and improve communications with their established client base”.

The post Rebbeck Brothers choose Qube Global Software | 2 February 2018 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are delighted to announce that we have had a very successful start to 2018, with 7 new companies joining the Qube customer base in the first 4 weeks of the year.

Our new customers cover a range of sectors, including residential sales and lettings agents, property managers and corporate occupiers.

Our award-winning property management solution Qube PM has been selected by two Bournemouth-based property management companies; Rebbeck Brothers and Burns Property Management and Lettings Ltd. Whilst multinational electrical and telecommunications retailer Dixons Carphone have chosen to implement Horizon CRE, our corporate occupier solution, to manage their leased portfolio and adhere to IFRS16 requirements and regulations.

As known and trusted suppliers in the real estate industry, the coming together of Qube and MRI means our combined customer base now benefit from our collective expertise and expanding offerings to support all real-estate requirements.

It’s great to have these new customers on board, and we look forward to working with them and building our relationships moving forward.

We hope to see our customers, prospective customers and industry peers at many upcoming events in the following months. To view which industry events we will be attending and exhibiting at, click here.

The post Positive start to 2018 for Qube, an MRI Software Company | 1 February 2018 appeared first on MRI Software.

Appoints Russell Butler as Chief Technology Officer; Promotes John Ensign to President

Solon, Ohio – Feb 1, 2018 – MRI Software, a global leader in real estate software solutions, announced two key executive appointments today to support the company’s recent growth. Proven enterprise software leader Russell Butler has joined MRI in the newly appointed role of Chief Technology Officer (CTO), and John Ensign, an eight-year veteran on the MRI leadership team, has been named President and Chief Legal Officer.

Butler and Ensign assume their new positions at a time when MRI is growing faster than in any other period of its history, having nearly doubled in size through six acquisitions on three continents during the latter part of 2017. Butler brings three decades of successfully leading high-performance, global product development teams at Oracle, IBM, AT&T and other leading software organizations. As CTO, Butler will oversee MRI’s technology strategy and manage product innovation and integration efforts to support the company’s expansion into new geographical and vertical markets.

Ensign will assume oversight of MRI’s corporate shared services, adding global client support, finance and accounting to his previous management responsibilities overseeing MRI’s human resources, legal, facilities, M&A and Partner Connect teams. Ensign will also assume overall responsibility of MRI’s EMEA and APAC operations, which are key to the company’s future growth.

“These new executive appointments put two experienced leaders in position to support MRI Software’s recent exponential growth,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “Russell’s background leading product development and strategy for some of the world’s largest enterprise software companies will enable MRI to accelerate innovation and integration of our organic and acquired solutions to improve usability, increase efficiencies and deliver greater insight for our clients while maintaining a flexible and open architecture. Meanwhile, John has long been a trusted advisor and skilled leader who excels at executing on our aggressive strategic plan. That skill set will be invaluable in his new capacity as President.”

Both Butler and Ensign will report directly to Ghilani. Complete biographies are available on MRI Software’s Leadership Team page.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

PR Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post MRI Software Announces Executive Appointments to Support Growth appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are pleased to announce that Burns Property Management, an ARMA accredited property management company have chosen Qube to support their block management business.

Burns, based on the south coast, have been providing residential property management in Hampshire and Dorset for over 40 years; and currently manage over 2000 residential units.

Qube will implement and support the award-winning block management solution Qube PM, to create further efficiency in the organisation, control workflow procedures and improve communications with leaseholders.

Caroline Kelleway, Managing Director at Burns Property Management said: “We chose Qube to run our property management portfolio due to its ability to streamline procedures and capacity to allow us to communicate quickly and efficiently with our clients and tenants”.

Daniel Foryszewski, Business Development Manager at Qube Global Software added: “I am elated to see Caroline and her team ready to implement the Qube solution. I am confident that we can help the company achieve their goals of rationalising processes and transforming the way they interact with customers”.

The post Burns Property Management choose Qube PM | 31 January 2018 appeared first on MRI Software.

London – January 9, 2018 – MRI Software, a global leader in real estate software solutions, today announced that Savills plc, a global real estate services provider, has selected the company’s web-based Version X Residential Management and accounting solutions to manage private rented sector (PRS) developments in the United Kingdom.

“We are pleased to extend our long-time partnership with MRI Software into the residential sector,” said Geoff Bather, Director and Head of Property Management Finance at Savills. “We already rely on MRI’s Version X platform to operate our commercial properties, and we could think of no better partner to support our growing residential business. Additionally, the ability to operate our commercial and residential properties – including PRS and block management – from a single, integrated software platform will streamline our operations and provide greater visibility into performance.”

Savills sought a comprehensive and open solution that can address the needs of the U.K. market and support future growth in other regions, while providing the flexibility to integrate proprietary and third-party software. MRI Software’s Residential Suite, which supports more than 7.5 million units around the world, encompasses marketing and leasing, property management, and prospect and resident portals. These residential management capabilities combined with MRI’s robust general ledger support the complete property investor lifecycle. Additionally, MRI’s open architecture and ecosystem of more than 120 technology partners enable Savills to select the solutions that best fit the needs of its clients and employees.

“The influx of investment into the fast-growing U.K. private rented sector is creating a demand for world-class software,” said Stephen Baker, Vice President, Global and Strategic Markets at MRI Software. “MRI’s long legacy of providing solutions for the multi-family sector in the United States, combined with the expertise in block management of our recent acquisition, Qube Global Software, enable us to provide an unmatched solution for service providers and investor/operators alike. We are thrilled to partner with a market leader like Savills to bring our comprehensive Residential Suite to the U.K.”

About Savills plc
Savills plc provides consulting services in connection with commercial, residential and agricultural properties, property-related financial services and investment management, which includes investment management for institutional or professional investors. Savills operates from over 700 owned and associate offices, employing more than 30,000 people in over 60 countries throughout the Americas, Europe, Asia Pacific, Africa and the Middle East. For more information, visit http://www.savills.com/.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Contact Information:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post Savills Selects MRI Software’s Property Management and Accounting Solutions for its UK Private Rented Sector Business appeared first on MRI Software.

South Africa’s largest REIT deploys MRI to simplify investment modeling and property accounting operations

Solon, Ohio – December 19, 2017 – MRI Software, a global leader in real estate software solutions, today announced that Growthpoint Properties, South Africa’s largest real estate investment trust (REIT) with reach into Australia and Europe, has selected MRI’s SaaS-based Commercial, Financial, and Investment Suites to streamline domestic and international portfolio management.

“We spent a year reviewing our investment and valuations practices and evaluating how we could best improve our operations and strategic initiatives,” said Alec Davis, Chief Information Officer of Growthpoint Properties. “The flexibility and security of the MRI platform enables us to reduce complexity in our operations and focus more on our core real estate business. The combination of industry-specific functionality, automation, and SaaS deployment options made MRI the clear winner.”

Growthpoint counts over 500 properties and more than 70 million square feet of gross leasable area in its portfolio of commercial, retail, and industrial properties across three continents. The large size and scope of its asset portfolio led Growthpoint to search for a comprehensive solution with multicurrency capabilities that could capture all aspects of its complicated business while standardizing data practices across regions and verticals.

To automate processes and improve efficiency, Growthpoint selected MRI’s Commercial Management solution, which offers web-based access to lease administration, retail management, and reporting and analytics tools. In addition, Growthpoint will benefit from MRI’s Budgeting and Forecasting, Investment Modeling, Investment Accounting, and Global Valuations solutions to streamline workflows and improve strategic planning. The new system will allow Growthpoint to reduce operational complexities, increase flexibility for users, and promote standardization and data integrity.

“Growthpoint is a hugely influential player in the South African real estate market, and we’re thrilled to have them as part of our expanding client base in the region,” said Stephen Baker, Vice President of Global and Strategic Markets at MRI Software. “Far too often, real estate companies still rely on paper-based records to manage billion-dollar portfolios and use basic spreadsheets for complex forecasting and financial modeling. Growthpoint is at the forefront of adopting automation, and we have no doubt that our Commercial, Financial, and Investment solutions will help Growthpoint better understand its business and make it an even more profitable endeavor for its investors.”

About Growthpoint Properties
Growthpoint provides space to thrive with innovative and sustainable property solutions. It is the largest South African primary REIT listed on the JSE, and owns and manages a diversified portfolio of 547 property assets, locally and internationally. Growthpoint is a Platinum Founding Member of Green Building Council South Africa (GBCSA), a member of the GBCSA’s Green Building Leader Network, a component of the FTSE4Good Emerging Index and has been included in the FTSE/JSE Responsible Investment Index for eight years running.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Contact Information:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post Growthpoint Properties Selects MRI Software’s Commercial Real Estate and Investment Solutions appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are pleased to announce that we have been named an ‘Innovator’ in a new report by an Independent Research Firm for IWMS solutions.

The ‘Green Quadrant: Integrated Workplace Management Systems’ report by Verdantix is the only independent benchmark of IWMS solutions on the market. The report provides an analysis of the 14 strongest IWMS suppliers, detailing the capabilities and market momentum of each system.

The report reviewed and scored our property, asset, facility and financial management platform Qube Horizon – and has listed the following as its key strengths;

• Strong functionality across the breadth of real estate, leasing and portfolio management – in particular its comprehensive lease administration capabilities.
• Specialist functionality for lease accounting – we were amongst the first IWMS solution providers to bring to market a solution for the upcoming lease accounting standards IFRS 16 and FASB Topic 842.
• Providing tailored software solutions to both real estate occupiers and investors which could help to speed up an IWMS deployment

Considering all supplier offerings assessed in Green Quadrant analysis, the report states that Qube Horizon should be included on shortlists by the following buyers;

• Corporates with large portfolios undergoing rapid site expansion, looking for a property management solution.
• International firms looking for a support software solution to centralise and process lease data for the upcoming lease accounting changes.
• Property investors looking for a single reporting software solution.

To read the full report please click here, or find out more about Qube Horizon.

The post Qube Global Software named an ‘Innovator’ by independent research firm for IWMS solutions appeared first on MRI Software.

Acquisition Expands MRI’s Growing Footprint in EMEA; Adds Innovative, Easy-to-Use Solutions for Small to Medium Investors and Operators

Cape Town, South Africa – December 14, 2017 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of MDA Property Systems, a property management and accounting software company based in Cape Town, South Africa. Founded in 1990, MDA Property Systems dominates the South African real estate market, with approximately 5,000 users and 70 percent of South Africa’s listed real estate investment trusts (REITs) using the company’s software. With commercial and residential clients throughout Africa and the Middle East, MDA further expands MRI’s fast-growing presence in the EMEA region.

“Africa and the Middle East represent important growth markets for global investors and, therefore, are key to MRI Software’s rapid worldwide expansion,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “MDA Property Systems has a stellar reputation in these markets, and they’ve built an extremely loyal following for their innovative and intuitive solutions. MRI also has a rich legacy in the region, having served the African market for more than two decades. Uniting the strengths of both companies, we are well positioned to bring a comprehensive set of real estate software solutions to the region.”

MDA clients will benefit from increased investment and innovation into the company’s core solutions. Additionally, MRI Software’s broad solution set – including the company’s Investment Suite, Fixed Asset Accounting and Facilities Management solutions – provides key capabilities for MDA clients managing both domestic and global portfolios. MRI’s multinational clients can leverage MDA’s capabilities to work more effectively in the Southern African market.

“Combining with MRI Software gives us a global channel for our solutions and a wealth of resources to continue developing our property management software, to both add new capabilities and build integrations with complementary MRI offerings,” said Mark Fairweather, managing director of MDA Property Systems. “We are exceptionally excited to join the MRI family and provide international backing to the continued development of our product set for the benefit of our loyal client base. I look forward to joining the MRI team and continuing to lead MDA into the future.”

MDA Property Systems is MRI Software’s third acquisition this year in the EMEA region. The company acquired UK-based Real Asset Management in September and Qube Global Software in October. With nearly 2,500 clients and 400 employees in the region, MRI is now the largest real estate software provider in EMEA. MDA will continue to serve its clients without interruption while near-term integration activities will focus on providing expanded offerings to all clients.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge.

About MDA Property Systems
After developing and delivering property management solutions for nearly three decades, MDA Property Systems is the acknowledged leader in Africa. MDA Property Manager©, their core cloud-based application, provides comprehensive software for property and facility managers, with integrated accounting and real-time financial reporting. It is designed around industry-best practices and business processes, and is used every day by leading property owners and managers. MDA’s relentless approach to customer service shines through from initial engagement, through day-to-day support, and on an ongoing technical level. For more information, please visit mdapropsys.com.

Contact Information:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post MRI Software Acquires MDA Property Systems, a Leader in Real Estate Software for the African Market appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are delighted to announce that we have been highly commended in the ‘Best Industry Supplier of the Year’ category at the News on the Block Property Management Awards 2017-18.

The ceremony was held at Embankment Gardens, London, on Thursday 30^th November 2017.

This year adds to our great track record in the awards; winning three times and being highly commended six times in the nine years that the awards ceremony has been running.

We are also extremely pleased to have sponsored the Regional Property Management Company of the Year Award – in which our customer, Warwick Estates, was highly commended.

The post Qube Global Software highly commended at Property Management Awards | 4 December 2017 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are pleased to announce that a number of our customers came away with accolades at the News on the Block Property Management Awards 2017. The ceremony was held at Embankment Gardens, London, on Thursday 30^th November 2017.

A list of our customers who took home awards are listed below;

FirstPort

• New Build Property Management Company of the Year
• London Property Manager of the Year – John Graham

Michael Laurie Magar Ltd

• Best Managing Agent of a Mixed-Use Block
• Employer of the Year

Millstream Management Services

• Best Managing Agent of a RMC/RMT Block

Burlington Estates

• London Property Management Company of the Year

We would also like to congratulate all of our customers who had been nominated, and those who were highly commended in many categories, including; Encore Estate Management, Lee Baron, Warwick Estates and Scanlans.

We are delighted that our customers have been recognised for their hard-work, and we’re proud to be their supplier of choice for Property Management Solutions.

The post Qube customers win at Property Management Awards | 1 December 2017 appeared first on MRI Software.

MRI Fixed Assets enables real estate owners and operators to reduce tax obligations, achieve compliance, and increase the ROI of their fixed assets

Solon, Ohio – November 8, 2017 – MRI Software, a global leader in real estate software solutions, today announced MRI Fixed Assets, a new fixed asset accounting solution for the real estate sector. MRI Fixed Assets is a a comprehensive solution for real estate owners and operators to better manage accounting, maximize tax benefits, improve compliance, and increase the ROI of their assets.

“Regulations for fixed asset accounting continue to grow more complex, and organizations with real estate interests need solutions that can automate and simplify compliance,” said Charles McDowell, Vice President of Commercial Solutions and Client Experience at MRI Software. “MRI Fixed Assets builds upon the proven history of our recent acquisition, Real Asset Management, to easily address these ever-changing requirements. Our solution enables compliance with common accounting and tax reporting standards, including US GAAP, SOX, Bill 198 and IFRS. And, because it is linked with our Version X Financials platform, it provides a modern, intuitive user experience that leverages the full power of MRI.”

MRI Fixed Assets allows organizations to manage, track and record all changes to an asset’s status, from its physical location to the history of how it has been used. The application readily enables depreciation forecasts, manages the valuation of assets, and reports depreciation in accordance with the unique requirements for particular asset types and regional differences around the world. MRI Fixed Assets includes annual updates to allowances and elections, catering for Bonus Depreciation and Section 179, and can be integrated with barcoding and other electronic readers to aid in inventory audits.

Available via MRI’s Version X platform, MRI Fixed Assets shares integrated data and common work processes with the core financial management platform, giving users the benefits of increased automation within a single, intuitive experience.  The solution is flexible and can be used in conjunction with other accounting and property management systems, providing real estate organizations the freedom to choose the right solutions for their business.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

The post MRI Software Announces New Fixed Asset Accounting Solution for Real Estate Sector appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are delighted to announce that a number of our customers were crowned winners at the Property Week Management All-Stars awards – held at Grosvenor House, London, on the 2^nd November.

We would like to congratulate MJ Mapp, for winning Commercial Property Manager of the Year, and Mainstay Group, for winning Residential Block Property Manager of the Year. We are pleased that their continuous hard work has been recognised and we are proud to be their supplier of choice for property management solutions.

We would also like to congratulate our Partner, Fixlo, for being highly commended for the Property Management Software Provider of the Year award.

Well done to those who collected awards at this event, and we’re already looking forward to the third annual Property Week Awards next year.

The post Qube Global Software customers win at the Property Week Awards | 7 November 2017 appeared first on MRI Software.

MRI Software and KeyBank Partner to Automate Payments for the Real Estate Industry
New relationship offers greater choice and flexibility for real estate owners and operators

SOLON, Ohio – November 1, 2017 – MRI Software, a global leader in real estate software solutions, announced today that it has formed a strategic relationship with KeyBank, one of the nation’s largest bank-based financial services companies, to provide clients access to KeyTotal Pay, powered by AvidXchange^TM, KeyBank’s payment automation solution.

KeyTotal Pay provides real estate owners and operators the ability to eliminate paper checks, optimize vendor payments, and streamline reconciliation. Time-consuming post-payment activity and ongoing vendor engagement are shifted to KeyBank, while information reporting and research is embedded within MRI’s financial management software. The KeyTotal Pay platform has a high conversion rate to electronic payments, utilizing AvidXchange’s payment network with more than 350,000 vendors and growing. Additionally, clients can maintain their existing operating accounts, even those with other banks. With KeyTotal Pay, payments are more secure, transparent, and cost-effective.

KeyTotal Pay is a complementary service to MRI Vendor Pay, which is MRI Software’s existing payment automation solution, that offers greater choice and flexibility to mutual clients of MRI and KeyBank. KeyTotal Pay and MRI Vendor Pay are both powered by AvidXchange, allowing clients that have a banking relationship with KeyBank to automate payments through KeyTotal Pay, while others can select MRI Vendor Pay. In both cases, MRI will fully support the back-end integration into the client’s financial database.

“We are incredibly excited to publicly announce this partnership. Two Cleveland-based companies, heavily focused on the real estate sector, have joined forces to bring best-in-class vendor payments technology to the market. Our integration with MRI gives our clients a seamless user experience with limited change to current processes. Simply put, we are leveraging technology to automate manual, paper-intensive processes,” said Kevin Tholke, senior vice president of real estate payments at KeyBank. “Our mission is to help our clients run their businesses better every day. We do so by partnering with like-minded companies that have industry-leading technology, such as MRI Software.”

“This new partnership with KeyBank builds on a long-standing relationship with AvidXchange to provide additional flexibility and choice for our clients,” said John Ensign, executive vice president and general counsel for MRI Software. “MRI users can simply select their payments from within our financial module and, instead of sending them to the printer, click a button to send them to the KeyTotal Pay network via the MRI Vendor Pay real-time integration. Clients now have the ability to enhance their relationship with KeyBank and access KeyTotal Pay through MRI’s industry-leading accounting and financial management platform.”

About KeyCorp

KeyCorp’s roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $136.7 billion at September 30, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com. KeyBank is Member FDIC.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit www.mrisoftware.com. 

The post MRI Software and KeyBank Partner to Automate Payments for the Real Estate Industry appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are delighted to announce that we have been shortlisted for the ‘Best Industry Supplier of the Year’ award at the Property Management Awards 2017/18 – hosted by News on the Block.

This is the fifth year that the awards have been running, and the fifth consecutive year that we have been shortlisted for the Supplier of the Year Award – winning three years out of four so far.

The awards ceremony will be held at Supernova, Embankment Gardens, London, on the 30^th November 2017.

As well as being shortlisted for the Best Industry Supplier of the Year award, we are also sponsoring the Regional Property Management Company of the Year category.

We would like to congratulate our customers who have also been shortlisted in the awards – making up around two thirds of the overall shortlist. We are pleased that they have been recognised for their hard work, and we’re proud to be their supplier of choice for property management solutions.

For more information on the awards please visit the website. And good luck to all of those who have been shortlisted!

The post Qube Global Software shortlisted at Property Management Awards | 26 October 2017 appeared first on MRI Software.

Acquisition to Leverage MRI Software’s Sales and Marketing Channels and Multifamily Management Expertise to Maximize eCondoSystems’ Reach

Solon, Ohio – October 17, 2017 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of eCondoSystems (eCS), a provider of cloud-based software solutions for the condominium development and sales sector.

eCondoSystems provides condo developers a comprehensive web-based application that reduces cost and human error while tracking all aspects of a development project and providing tools for sales management, including inventory control, contract administration, real-time reporting, and an integrated Customer Relationship Management (CRM) functionality. Built specifically for condominium developers’ needs, eCS has more than 25,000 users who manage more than $30 billion in active inventory.

“The large and growing condominium market is currently underserved by real estate software solutions,” said Brian Zrimsek, Multifamily Industry Principal at MRI Software. “eCondoSystems is the industry’s best kept secret and a natural extension of MRI’s multifamily business. Coupling what we believe is the best condo development and sales solution available with MRI’s property management, automated communications, and screening solutions creates a true end-to-end offering for the condo market. We look forward to leveraging our brand and established sales and marketing channels to bring eCondoSystems’ solutions to the global real estate industry.”

eCondoSystems is MRI Software’s fourth acquisition in the multifamily space in the last 12 months, following CallMaX, ResidentCheck, and Tenmast Software and HAB, Inc. This latest acquisition continues to reinforce MRI’s commitment to the multifamily industry.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

About eCondoSystems
eCondoSystems is the premier developer of cloud-based software specifically tailored for the multi-family condo industry. Over the past 15 years, our comprehensive and customizable application has helped countless projects streamline their business and better manage the sales, inventory control, contract administration and closing processes. eCondoSystems provides a turn-key dashboard driven software package delivered through the Cloud to serve the needs of condo developers (and their sales teams) in the development and sale of condo units. These tools include integrated CRM, automated marketing, prospect-to-client conversion analysis, automatic contract assembly and contract administration, as well as inventory control, accounting, reporting, and more. Learn more at econdosystems.com.

PR Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post MRI Software Acquires eCondoSystems, a Provider of Cloud-Based Software Solutions for the Condo Development and Sales Process appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are pleased to announce the availability of the Horizon*Store to SaaS customers currently utilising Horizon Release 10.2 Service Pack 6 or higher.

The Horizon*Store is a central repository of Horizon business intelligence apps, for example reports, that are published to all customers – who can then opt to implement and use in their release of Horizon. It enables our customers to deploy Business Intelligence Apps quickly and easily and in a time efficient manner.

The Horizon*Store is easy to use – operating in an intuitive way similar to the App Store technology which we are all familiar with. When a new app is published or an existing app updated, the customer is notified of an update and on visiting the store, can preview and evaluate. If they decide that it is beneficial, then the app will automatically install in their system and will be ready for deployment to the users.

The post Horizon enhanced with the release of Horizon Stores | 16 October 2017 appeared first on MRI Software.

Second PHA Software Acquisition This Month Demonstrates MRI’s Commitment to the Affordable and Public Housing Market

Solon, Ohio – October 16, 2017 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of HAB, Inc., a provider of innovatively simple housing management software for public housing authorities (PHA). Earlier this month, MRI announced the acquisition of Tenmast Software, another provider of PHA and private affordable housing management software. Taken together, these two acquisitions squarely position MRI as one of the largest providers to this key segment of the U.S. multifamily real estate sector.

“When MRI Software decided to enter the public housing market, we wanted to do so with a formidable platform and marketshare right out of the gate,” said Patrick Ghilani, Chief Executive Officer at MRI Software. “Our answer was to buy the best solutions in the market and combine them. Going forward, we will bring together the best of MRI, HAB and Tenmast to provide a world-class user experience on a web-enabled platform tailored to meet the needs of the public and affordable housing sectors.”

With the acquisition of HAB, MRI Software continues to strengthen its portfolio in the affordable and public housing markets. HAB serves 210 clients across the United States, with solutions for tenant and application management, financial management, and property management, all tailored to meet the unique needs of PHAs.

“HAB excels at providing public housing authorities with powerful software that’s simple to use,” said David Carner, Group Vice President of Multifamily at MRI Software. “We will continue to strongly support HAB clients, while we simultaneously invest to broaden, deepen and modernize HAB’s solution set.”

“MRI already has a strong name in the affordable housing space, and the company’s recent investments speak loudly to its commitment to serving public housing authorities,” said Michael Juran, President at HAB. “Providing clients exceptional support is the primary mission at HAB, and that will continue as we join MRI, while we simultaneously focus on expanding feature and functionality enhancements that will allow us to better serve the industry.”

This is MRI’s fourth acquisition in the multifamily space during the past 12 months. In addition to Tenmast, MRI acquired CallMaX, an automated communications provider, and ResidentCheck, a resident screening solution.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

About HAB
HAB INC provides software and services to over 200 public housing authorities across the U.S. Software includes integrated software for tenant, applicant, landlord, unit, property and financial management of a housing agency. HAB has been providing services for over 25 years and is an industry leader in innovative software solutions to the public housing marketplace.

PR Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post MRI Software Acquires HAB, Inc., a Provider of Housing Management Software for Public Housing Authorities appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Chaneys Chartered Surveyors, a growing surveying firm, have chosen Qube as their sole supplier to support their different business divisions.

They have been providing professional property and asset management in the Thames Valley area for over 50 years; and currently manage over 5000 residential units.

Chaneys have chosen to implement both Qube SLM and Qube PM to support their lettings and block management divisions. Qube will supply and support their functionally comprehensive and scalable solutions across the whole business; meeting the needs and demands of Chaneys as they continue to expand.

Richard Duncan, Partner at Chaneys Chartered Surveyors said: “We have recognised the need to improve our communication and transparency with clients and residents alike. We work hard to provide clear channels of support to our clients & residents and we believe that Qube will help us continue improving this work for years to come”.

Daniel Foryszewski, Business Development Manager at Qube Global Software added: “We are enthused to start implementing our solutions with Chaneys Chartered Surveyors. I look forward to working with the dynamic team to achieve further efficiencies in both their lettings and block management divisions.”

Thomas Fletcher-Wilson, Sales Coordinator and Qube Global Software said: “Having being involved with Chaneys since first contact, it was clear to see that the team there have a clear vision of how to improve their business through tech. It has been a pleasure to start to help them achieve this vision with multiple Qube solutions”

The post Chaneys Chartered Surveyors choose Qube Global Software | 11 October 2017 appeared first on MRI Software.

Acquisition Demonstrates MRI Software’s Strong Commitment to the Multifamily and Affordable Housing Markets; Gives MRI Entry into Public Housing

Solon, Ohio – October 10, 2017 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of Tenmast Software, a leading provider of public housing authority (PHA) and private affordable housing management software.

Tenmast offers streamlined, easy-to-use software that keeps public housing authorities (PHAs) continually in compliance with the ever-changing rules of federal affordable housing regulators. Tenmast software integrates HUD, USDA and IRS compliance into every aspect of the housing cycle. Tenmast serves PHAs with more than 20,000 units, agencies with state-wide programs, and agencies that manage all federal, state, and local housing subsidies.

“Affordable housing continues to be an important segment of the multifamily industry, and we are now positioned to service both housing authorities and landlords with a broad array of solutions,” said MRI CEO Patrick Ghilani. “MRI has invested at an unprecedented level in multifamily, and that commitment extends to affordable and public housing. With this acquisition, we’re building on our existing strength in property management and compliance to provide public and affordable housing organizations with a broader, more comprehensive set of solutions.”

The demand for public housing continues to grow and is outpacing supply. Only one in five people who qualify for public housing are currently able to obtain it. This gap between supply and demand is being filled by not-for-profits in need of real estate management tools that ensure they are in compliance with federal regulations.

Tenmast excels at compliance, and when combined with MRI’s flagship open and connected property management platform, Tenmast clients will have access not only to MRI’s extensive solution set, but also to the solutions available from other vendors through Partner Connect. Additionally, MRI’s greater size and scale will enable the combined company to invest even more resources into innovation and support.

“MRI is strongly committed to supporting our clients and is devoting substantial resources to further develop our solutions, with the aim of providing a world-class user experience on a web-enabled platform,” said James C. Mauch, CEO of Tenmast. “In fact, we see near-term opportunities to enhance Tenmast with additional functionality, such as electronic document signing and automated communications. This is a combination that will greatly benefit the public and affordable housing industry.”

“For far too long the public housing segment has been underserved,” said David Carner, Group Vice President, Multifamily at MRI Software. “MRI is excited to bring the next level of technology to this critical component of the nation’s overall housing strategy, building on the expertise Tenmast has developed having served the unique needs of public housing for more than thirty years. We will continue to service our new clients from Tenmast with vigor as we chart a course towards a fully featured, web-based solution that delivers an intuitive user experience.”

Tenmast is MRI Software’s third acquisition in the multifamily space in the last 12 months. MRI previously acquired CallMaX, an automated communications solution, and ResidentCheck, a resident screening solution.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

About Tenmast

Tenmast Software has served the Public Housing industry since 1985 with enterprise-based software solutions that manage the complex information content of these agencies. Tenmast serves Public Housing Authorities (PHAs) in 44 states, including Guam and Saipan in the South Pacific. PHA businesses are highly regulated and Tenmast’s solutions are focused on helping them manage compliance with HUD regulations. Tenmast is recognized as the industry leader in HUD program management and compliance support for PHAs.

The post MRI Software Acquires Tenmast Software, a Leading Provider of Public Housing and Private Affordable Housing Management Software appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are pleased to announce the release of Qube Horizon Service Pack 6, which includes extending the IFRS 16 and ASC 842 functionality to include the management of equipment leases.

Horizon is a fully functional, deeply rich and highly flexible real estate software platform. It is one of the most technically advanced solutions on the market and is accessible anytime anywhere through the cloud.

Service Pack 6 enhancements enable Horizon to be the one stop solution for the new regulatory requirements as it allows our customers to manage both real estate and equipment leases and removes the necessity for customers to record real estate leases in one system and equipment leases in another.

By 2019, many companies will need to have procedures and processes in place to conform to the new financial reporting requirements and so automation of these complex calculations along with full auditability and appropriate segregation of duties is considered to be the best practice approach.  All of which can be provided through Horizon.

For more information on Horizon Service Pack 6 and to find out the benefits it can bring your business, get in touch. 

The post Qube Horizon 10.2 enhanced with the release of service pack 6 | 9 October 2017 appeared first on MRI Software.

Acquisition Extends MRI’s Global Reach; Expands Offerings for Property Investors, Agents, Occupiers, and Tenants; Provides Greater Scale for Innovation and Development

London – October 4, 2017 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of Qube Global Software, a leading UK-based supplier of property and facilities management software. Qube both extends MRI’s global reach and brings further expertise and scale for continued innovation in property technology. Following MRI’s acquisitions of Qube and Real Asset Management, which was announced last month, the combined company now serves 5,500 clients with a global team of more than 1,000 employees. MRI’s 350 employees in the UK make it one of the largest property tech providers in the country, and in Europe as a whole.

“The global real estate sector is growing at unprecedented rates, with investors and capital seamlessly crossing borders and spanning continents,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “The union of MRI Software and Qube Global Software establishes a technology powerhouse to support investors, agents, and occupiers globally and locally. By uniting MRI’s strength and history in North America with Qube’s European market expertise, along with both companies’ long-standing Asia-Pacific footprint, we are uniquely positioned to address the varying needs of the global real estate market with a comprehensive and flexible portfolio.”

Qube’s extensive property and financial management capabilities, as well as facilities management, integrated workplace management systems (IWMS), and space management solutions, complement MRI’s existing offerings and provide greater choice and flexibility for the combined company’s worldwide client base. Qube’s property management offerings serve both the commercial and residential real estate sectors, including lettings, which is experiencing increased demand in the UK. The acquisition also provides Qube clients access to MRI’s world-class financials and investment suite, including solutions for asset management, scenario modelling, and investor relations.

“It’s rare to find two organisations so closely aligned strategically as MRI and Qube, with a long history in the real estate space and a shared vision of providing an open platform that maximises flexibility and choice for clients,” said John Cuppello, Chief Executive Officer of Qube Global Software. “It’s a tremendous time to become a part of MRI, and our capabilities and expertise will play a meaningful role in helping the combined company continue to grow and thrive.”

Through the addition of Qube’s offices in the UK, United States, Australia, New Zealand, Hong Kong and Singapore, MRI is well-positioned to continue exceeding the demands of its growing global client base with increased in-country resources. Both Qube and MRI clients will continue to be served without interruption while near-term integration activities focus on providing expanded offerings to all clients.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

About Qube Global Software

Qube Global Software is a leading supplier of property and facilities management software throughout the world. Over the last 40 years it has helped thousands of clients, ranging from small investors through to global corporations, manage every aspect of their property portfolios. Its products can bring increased revenue and efficiency, reduced costs and full access to vital information for every sector of the property industry. For more information, please visit www.qubeglobal.com.

Contact Information:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post MRI Software Acquires Qube Global Software, a Leading UK-based Provider of Property and Facilities Management Solutions appeared first on MRI Software.

MRI Software Acquires Real Asset Management, a Leading Provider of Asset Management Solutions
Acquisition Brings Fixed Asset Accounting Capabilities to MRI’s Real Estate Clients, Expands MRI’s European Footprint and Adds More than 1,400 Clients Across a Range of Industries

Solon, Ohio – September 20, 2017 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of United Kingdom-based Real Asset Management (RAM), a supplier of asset management software, including asset and lease accounting, tracking, and maintenance management. Asset intensive businesses rely on RAM’s solutions to automate traditionally manual and error-prone processes and ensure compliance with accounting, tax, and financial reporting requirements. Additionally, RAM’s mobile and desktop facilities management solutions enable organizations to streamline processes, improve productivity, and reduce property management costs.

“Real estate organizations face the same challenges as other sectors around compliance and regulations related to asset management,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “By acquiring Real Asset Management, with whom we’ve enjoyed a close partnership for many years, we’re able to leverage deep expertise and innovation in asset management and immediately deliver a comprehensive, integrated solution for our clients in the real estate sector, while expanding into new markets where we see a great deal of potential for further growth. This acquisition is also a key milestone in MRI’s aggressive EMEA expansion strategy.”

MRI’s existing integration with RAM will be enhanced to deliver a comprehensive fixed asset accounting solution for the real estate sector that enables MRI’s commercial, residential, and affordable clients to better manage accounting, maximize tax benefits, improve compliance, and increase the ROI of their assets. More information about the newest product can be found here.

Through the addition of RAM’s global headquarters near London, MRI significantly increases its growing UK presence and gains some 950 European clients, together with another 450 clients worldwide. Additionally, MRI is excited to expand its reach into a range of other industries, including leasing and asset management solutions for intermodal transport containers where RAM is a market leader.

“There is an enormous amount of synergy between MRI and RAM, as evidenced by the success of our long-standing partnership” said George Snelgrove, Chairman of Real Asset Management. “The RAM team will be joining a fantastic organization with tremendous talent, insight and reach while bringing its own capabilities for serving any major industry that requires an asset or facilities management solution.”

RAM will continue to serve all of its clients without interruption and remains committed to providing and supporting solutions for all organizations, regardless of their market sector.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

About Real Asset Management

Real Asset Management (RAM) is a leading provider of fixed asset management and logistics software & services.  Over the last 35 years, its products have been implemented by more than 3,000 organisations in over 70 countries. RAM, the principal supplier to the UK public sector, has successfully implemented software in over 2,000 Commercial organizations, 160 Housing Associations, 100 Local Government Authorities, 150 Central Government Offices, 200 NHS Trusts, 90 Educational Establishments and over 250 Government Defence sites worldwide. The company has developed a powerful range of software modules around a central data repository that enables organizations of any size to manage every aspect of the asset lifecycle. Its Series4000 and Series5000 solutions offer fixed asset accounting, capital project control, lease accounting, asset budgeting, asset tracking (utilising barcodes/RFID, cellphones), facilities maintenance and computerised maintenance management.

Contact Information:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post MRI Software Acquires Real Asset Management, a Leading Provider of Asset Management Solutions appeared first on MRI Software.

Solon, Ohio – September 12, 2017 – MRI Software, a global leader in real estate software solutions, today announced that strong demand from real estate owners, operators, and investors for a comprehensive and open software platform has propelled MRI to its best quarter in company history. In Q2 2017, MRI Software saw 136 percent growth in new clients over the same period in 2016 and posted its 15^th consecutive quarter of revenue growth.

Strong adoption by MRI’s existing client base of two recently acquired solutions now integrated into the company’s Residential Suite also contributed to the record growth in the second quarter. CallMaX, an automated communications solution, and ResidentCheck, a resident screening service, were widely embraced by MRI’s multifamily clients. Growth was also strong in the EMEA region, including demand from the nascent residential market in the United Kingdom.

With an open architecture approach, MRI gives clients the freedom to deploy the best solutions to match their needs instead of being locked in to a single vendor’s components. MRI’s Partner Connect program – the ecosystem that supports MRI’s open and connected platform – continued to grow in Q2 with the addition of eight new partners. Additionally, MRI’s API library grew to more than 300 APIs, which makes it easy for clients to integrate software from vendors who are part of the Partner Connect program. Clients made more than three million calls to these APIs in Q2.

MRI also laid the foundation for future growth with the announcement of two new solutions during the quarter: MRI AnalytiX and MRI Inspections, powered by HappyCo. MRI AnalytiX provides an engaging, immersive experience that empowers real estate business users to visualize complex data easily, identify trends, understand the underlying causes behind those trends and, ultimately, make better, faster decisions around property management, finance and investments. MRI Inspections is a mobile inspections solution that provides real-time intelligence to reduce costs, optimize turn, and drive quality assurance across multifamily real estate portfolios.

“MRI Software is turning the real estate tech industry on its head with our flexible and open approach to meeting the unique needs of each business. We are committed to liberating real estate owners, operators and investors so they can build their success their way,” said Patrick Ghilani, Chief Executive Officer at MRI Software. “Real estate businesses are clearly seeing the value in a platform that enables them to choose the best solutions for their organizations, and, as a result, we just achieved the best quarter in the history of the company, with record bookings, revenue and profitability. I couldn’t be more proud to be a part of our passionate, innovative and hard-working team.”

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

CONTACT INFORMATION:

Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post Comprehensive and Open Real Estate Platform Propels MRI Software to 136% Increase in New Clients, 15th Consecutive Quarter of Revenue Growth appeared first on MRI Software.

ERC’s Northcoast 99 Awards MRI Software for the 11th Time

Solon, Ohio – August 23, 2017 – MRI Software, a global leader in real estate software solutions, is proud to be recognized by ERC as one of Northeast Ohio’s 99 best places to work! This is the eleventh time that MRI has received the award.

“We are honored to receive the NorthCoast 99 award once again,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “Our amazing and passionate team members are the key to MRI’s continued success, and we strive to create a culture and environment that fosters innovation, creativity, and collaboration, where employees look forward to coming to work every day.”

NorthCoast 99 recognizes great places to work for top performing people that drive results, provide competitive advantages, and allow businesses to innovate and grow. Applicants are evaluated based on policies and practices related to the attraction and retention of top performers, as well as data collected from employee surveys.

“We’re extremely honored to recognize the 2017 NorthCoast 99 winners. These organizations have earned the right to call themselves a great workplace by their dedication to attracting, supporting, retaining, and motivating their Top Performers. ERC developed the NorthCoast 99 program with the hopes of inspiring local leaders to promote the great workplace movement,” comments Pat Perry, President of ERC.

Since its founding in 1971, MRI Software has grown into an international leader with team members in all corners of the globe, but its home base remains in Northeast Ohio. MRI’s headquarters in Solon employs more than 400 people and MRI actively supports the local community, including partnering with local colleges and participating in Engage! Cleveland and Cleveland Corporate Challenge.

NorthCoast 99 is an annual recognition program that honors 99 great workplaces for top talent in Northeast Ohio. The program is presented by ERC (www.yourerc.com). ERC helps organizations create great workplaces by providing HR resources, training, and consulting services. Sponsors of the NorthCoast 99 program include: Anthem Blue Cross & Blue Shield, CareerCurve, Cleveland Magazine, ERChealth, Frantz Ward LLP, Gino’s Awards, Oswald Companies, Staffing Solutions Enterprises, and Ultimate Software.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Contact Information
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

The post MRI Software Named One of Northeast Ohio’s Top Workplaces appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Qube Global Software is delighted to announce that Brentwood School, one of the UK’s leading independent schools for boys and girls aged 3-18, has chosen to implement Qube Planet as its long-term CAFM solution.

Brentwood School is steeped in almost 500 years of history, comprising of a Preparatory School, Senior School and Sixth Form, as well as boarding provision. Qube Planet will be implemented to manage FM across the whole campus; covering the highest quality academic, arts and sports centre facilities.

“Qube Planet has been chosen to help us increase efficiency and effectiveness, maximise transparency of costs and asset data, and provide the ability to forecast resources based on planned and reactive maintenance requirements.”

– Ian Maxwell, Estates Bursar, Brentwood School

“Brentwood School is a great addition to our continually growing education sector customer base and we look forward to forming a long-term partnership”

– Tom Price, Business Development Manager, Qube Global Software

The post Brentwood School choose Qube Global Software | 21 August 2017 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Network Homes has chosen to implement Qube Living to support its growing Build to Rent portfolio.

Network Homes is an award winning G15 housing association with 20,000 homes across London, Hertfordshire and the South East, which is expanding into the UK’s vibrant Build to Rent market.

It has chosen to implement Qube Living to facilitate the marketing, leasing and management of its portfolio along with provision of resident interaction through cutting edge portal technology.

Qube Living is a best of breed solution for any organisation involved in the management of residential property. Through collaboration with our partners Engage Property Technology and Fixflo, the best elements of resident self-service have been seamlessly integrated into our award-winning back office and lettings solutions.

Carl Robertson, Senior Build to Rent Manager at Network Homes said: “Having reviewed the software options available to us we identified Qube Living as the best fit for our business. Our priority is to deliver a first-class management service to our customers and working with Qube Living will help us to achieve this”.

Kalumba Musambachime, Head of Build to Rent at Network Homes said: “We have chosen Qube Living as our preferred software solution due to its scalability and flexibility to handle and manage different property classes. We have received amazing feedback from other users and we are confident that it will help us in our drive to expand and offer an amazing customer experience within our growing build to rent portfolio. I am really looking forward to working together with the Qube Living team to ensure a seamless roll out.”

Dan Foryszewski, Business Development Manager at Qube Global Software said; “After some time working with Network Homes and seeing their model develop, we are excited to begin implementing our Qube Living solution for them. As a supplier born in the UK market that works across the Build to Rent, Block Management, PRS and Housing Association sectors, we are confident that our experience will allow us to deliver an integrated solution that meets Network Homes’ requirements.”

Peter Watson, Director of Engage Property Technology said: “Network Homes understands the expectations that their customers have of them and we look forward to working with them to deliver a high level of resident engagement, self-service and automation. Network Homes’ approach will put their brand ahead of the game in this sector.”

The post Network Homes choose Qube Living | 16 August 2017 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are pleased to announce that ITV have chosen to implement Qube Planet as their new facilities management software solution.

ITV operate the largest commercial family of channels in the UK, delivering content through traditional television broadcasting, as well as on demand via the ITV Hub.

ITV needed an intuitive FM solution with a depth of functionality that could meet the needs of their rapidly evolving work environment. They were attracted to the ease of use offered by Qube Planet, as well as the comprehensive reporting suite and robust working capability, which enables their FM teams to deliver efficient, high quality services to their staff.

We are delighted ITV has chosen Qube Global Software as their facilities management software supplier, and we are excited to work with them moving forward.

The post ITV choose Qube Global Software | 10 August 2017 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Registrations for Qube Global Software’s premier Customer Conference, Qube World, are now open. This year’s event takes place on Tuesday, 31 October at London’s Park Plaza Westminster Bridge.

The day’s agenda is set to feature sessions on each of the Qube Global products, plus learning opportunities and insights from expert industry speakers.

A special early-bird rate is available for a limited time, and those wishing to register can do so on the new Qube World website.

A Packed Day

With several interesting developments unfolding across the Qube Global Software product suite in the past 12 months, Qube World 2017 will be a hub of activity.

Delegates will have the chance to learn about the latest updates within their existing systems, as well as explore the range of Qube Global Software solutions.

Expert analysis from speakers across the property sector will offer insight into current market trends, and a selection of Partners from the growing Qube Connect network will be present as event sponsors adding an additional layer to the range of resources and expertise available.

The Park Plaza Westminster Bridge

Set among the heart of UK political power, the state-of-the-art hotel and conference centre provides a perfect home for Qube World 2017.

Located on London’s South Bank, the venue looks out over some of the city’s most famous landmarks and is just minutes away from Westminster and Waterloo London Underground stations and London Waterloo National Railway station.

More Information

As well as links to the Registration page, the dedicated Qube World website provides all the information you need to know about the 2017 event. It’s also where the latest updates will be posted as and when they are announced.

The post Qube World 2017 Dates And Details Announced appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are proud to announce that we have been shortlisted for the Property Management Software Provider of the Year award at the Property Week Management All-Stars Awards 2017. The awards ceremony returns for a second year to celebrate excellence across all segments of the management of real estate.

We would also like to congratulate many of our customers who have been nominated for numerous awards, along with our partner, Fixflo, who have been nominated for the Property Management Software Provider of the Year award.

The awards ceremony will take place on the 2^nd November at Grosvenor House, London.

We would like to wish everyone the best of luck, and we will keep our fingers crossed.

M J Mapp Ltd

Commercial Property Manager of the Year

Property Management Team of the Year

Employer of the Year

Sustainability Award

Mainstay Group

Residential Block Property Manager of the Year

Property Management Team of the Year

Employer of the Year

Millstream Management Services

Residential Block Property Manager of the Year

Employer of the Year

Encore Estate Management

Employer of the Year

Young Property Manager of the Year – Tom Hopson

Burlington Estates

Residential Block Property Manager of the Year

Homestead Consultancy Services Ltd

Residential Block Property Manager of the Year

Lee Baron

Residential Block Property Manager of the Year

Get Living London

Build to Rent/PRS Operator of the Year

Grainger PLC

Build to Rent/PRS Operator of the Year

Touchstone

Build to Rent/PRS Operator of the Year

Broadgate Estates

Property Management Team of the Year

Knight Frank

Property Management Team of the Year

FirstPort

Young Property Manager of the Year – Stephen Cooper

We are pleased that our customers have been recognised for their hard work, and we’re proud to be their supplier of choice for Property Management solutions.

Good luck to all of those who have been shortlisted!

The post Qube Global Software and customers shortlisted at Property Management Awards | 11 July 2017 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are pleased to announce the release of our innovative, market-leading interface: The Home Hub. This is available with the latest release of Horizon.

The Horizon Home Hub allows users to Personalise, Analyse and Prioritise the information that is important to them. Offering real-time portfolio data at your fingertips, the Home Hub provides your information, how you want it, when you need it, through a visual representation of your chosen business processes.

Service Pack 5 comes with four starter Home Hubs for Property Managers, Lease Payable Managers, Facilities Managers and Accountants. These can easily be personalised further and new role-based Hubs can be created by your power users.

Use your Hub to gain a high-level snapshot of your portfolio in an intuitive way. The Hub highlights your upcoming tasks and reminders and even suggests their priority to proactively assist in your decision-making process. Red, Amber and Green traffic lights reflect the urgency and importance of your tasks.

Drilling down into the summary will allow you to access the granular details; for instance, you can review outstanding invoices, assess their urgency and authorise the expenditure in just a couple of clicks.

Integration with Google Maps offers a visual representation of your properties, with pre-configured queries to find information quickly. A user can drill to the related lease and asset details. Minimal training is required as the user experience is so intuitive.

Your Hub can be personalised to your own style and preference; choose a colour scheme to match your corporate branding; customise the layout for easier navigation, and select which gadgets will be shown to suit your requirements.

With all these great features, the Home Hub can be used as the central point to access your relevant information, highlighting what’s important to you and providing an intuitive alternative approach to the traditional menu system.

The Home Hub comes with the release of Qube Horizon 10.2 Service Pack 5, along with multiple other enhancements. To find out more, get in touch with one of our team today.

The post Introducing the Home Hub – a new way of proactively managing your property portfolio | 21 June 2017 appeared first on MRI Software.

MRI Software and HappyCo Partner to Launch MRI Inspections

HappyCo’s Mobile, Real-time Inspection Solution to Integrate with MRI’s Multifamily Property Management Platform for Smarter Apartment Rental Operations 

Solon, OH – June 21, 2017 – MRI Software, a global leader in real estate software solutions, today announced a partnership with HappyCo, the leading mobile software platform to inspect, monitor and analyze the performance of enterprise business assets in real time, to create MRI Inspections, Powered by HappyCo. MRI Inspections is a mobile inspections solution that provides real-time intelligence to reduce costs, optimize turn, and drive quality assurance across multifamily real estate portfolios. Through integration of HappyCo’s Happy Inspector solution into MRI’s Version X property management platform, MRI Inspections enables clients to improve operations by digitizing a traditionally paper-based process and automating inspection scheduling as a normal course of property operations.

“This integrated solution demonstrates MRI’s commitment to providing clients maximum flexibility and choice through an open and connected partner ecosystem,” said Mirriam Livingstone, VP, Operations Services for Village Green, one of the nation’s largest apartment property management companies and a long-time MRI client. “MRI Inspections, Powered by HappyCo, will be a massive upgrade to our inspection processes by eliminating physical paperwork and standardizing data collection, which we anticipate will minimize disputes and improve our ability to collect damage charges. We are looking forward to participating in the working group, and I fully expect our participation to yield even more efficiency and better results.”

MRI Inspections, Powered by HappyCo, will offer a simple, user-friendly experience for property owners and managers centered around a mobile app. With forms that are configurable to meet the needs and standards of each client, the app prompts users to enter the required data and to attach and annotate associated photos. Users may upload the information in real time if the device is connected to the internet, or via sync if the device is offline during an inspection. The end result is a single source for accurate inspections information that minimizes resident disputes and increases payments for property damages. Through the integration of Happy Inspector into MRI Software’s Residential Management solution, MRI clients gain the capability to automatically schedule inspections based on event triggers such as move-ins and move-outs or resident inquiries.

“Revenue loss, wasted time and unhappy tenants are unacceptable to any multifamily owner or property manager, but that is often the result of paper-based, old-school inspections processes,” said Brian Zrimsek, Industry Principal for Multifamily at MRI Software. “MRI Inspections, Powered by HappyCo, fixes that problem by tying the benefits of HappyCo’s inspections software into our MRI Version X property management offering to create an end-to-end, automated solution. This partnership and integration is yet another example of MRI’s commitment to delivering true enterprise software interoperability.”

“A multifamily solutions provider with both a large installed base of clients and a commitment to growing through partnerships is extraordinarily rare, but that’s what we found in MRI,” said Jindou Lee, CEO and co-founder of HappyCo. “Each side went into this integration process with the same goal in mind: creating the best solution for our clients. Together we’ve developed an offering that ties the best of our products together in a single, unified experience.”

MRI Inspections, Powered by HappyCo, is scheduled for general availability in September. MRI Software and HappyCo are currently accepting client signups to join Village Green in a working group that will provide input on features and user experience before the offering is finalized.

Supporting Resources

• MRI Inspections Datasheet
• Video overview
• Sign up for the working group or to be informed of general availability

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

About HappyCo

HappyCo is a San Francisco-based software company that builds mobile and cloud applications for enterprise workforces to run their operations in real time. Its Happy Inspector product is used by thousands of companies and has captured more than 100 million items inspected. The company was founded in 2011 and is privately held.

Contact Information
Jeff Miller
LEWIS
mrisoftware@teamlewis.com 
541-207-3461

The post MRI Software and HappyCo Partner to Launch MRI Inspections appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Qube Global Software has teamed up with property data management company OMNILINK – adding another industry specialist to its growing Qube Connect Partner Programme, aimed at delivering unrivalled service within the marketplace.

The new collaboration means OMNILINK’s AssetWhere platform can now be integrated directly with Qube’s Planet solution, allowing property and facilities managers to visualise key information on a user-friendly map-based system.

Qube Planet is used by leading organisations and contractors to manage their mobile workforce and FM operations. With the best app functionality in the market seamlessly linked to a comprehensive and highly flexible CAFM suite, it creates one data set and one source of the truth.

OMNILINK builds on these capabilities by offering a powerful browser-based database visualisation that quickly and efficiently demonstrates key details that don’t sit naturally in an information management function, a notable example being underground or hidden services.

Its AssetWhere solution provides a central source to record this type of data and gives staff or contractors accurate and up-to-date information on building, asset and service locations. The combination saves significant time and expense, and generates a compliance trail – crucial when dealing with health and safety processes.

A complete user experience has become increasingly important in the industry, and the partnership and the increased functionality has the potential to provide significant added value for both OMNILINK and Qube’s customer base.

Paul Manning, Sales Director at Qube Global Software, said: “Through the expanding Qube Connect Partner Programme we are able to harness the best technology for our customers, and a relationship with OMNILINK achieves exactly that. Integrating its map-based solution with Qube Planet will give property managers increased visibility and knowledge of their estates, saving considerable time and cost.”

Philip Caunter, Director at OMNILINK, said: “OMNILINK has a long-standing presence in Australia and New Zealand, and we’re delighted to partner with Qube as we increase our UK operations. The focus now is to add value for Qube’s many customers and offer a function that has genuine tangible benefits; by incorporating a visual component within the Planet product we believe that’s exactly what can be achieved.”

About Qube Global Software

Qube Global Software is a leading supplier of property and facilities management software throughout the world. Over the last 40 years it has helped thousands of clients, ranging from small investors through to global corporations, manage every aspect of their property portfolios. Its products can bring increased revenue and efficiency, reduced costs and full access to vital information for every sector of the property industry.

About OMNILINK

OMNILINK is a successful property and location data management company, which has provided enterprise data management and integration services to clients for over 28 years. The company has developed specific expertise and skills in the acquisition, collation and management of data for government, education, healthcare and business. OMNILINK has offices across Australia and New Zealand, and is now working with new customers in the United Kingdom.

The post Qube Global Software Partners with Data Visualisation Expert OMNILINK | 20 June 2017 appeared first on MRI Software.

MRI Software Introduces AnalytiX: a Business Intelligence Solution Built for Real Estate

MRI AnalytiX Provides Intuitive, Immersive Visualizations of Real Estate Data for Better, Faster Decisions that Maximize Returns and Minimize Risk

Solon, OH – June 14, 2017 – MRI Software, a global leader in real estate software solutions, today announced MRI AnalytiX, a powerful business intelligence (BI) solution built for real estate. AnalytiX provides an engaging, immersive experience that empowers business users to visualize complex data easily, identify trends, understand the underlying causes behind those trends and, ultimately, make better, faster decisions around property management, finance and investments.

In today’s hypercompetitive real estate industry, organizations must operate efficiently, identify and mitigate risk, and respond quickly to changing conditions. MRI AnalytiX provides real estate professionals with the tools they need not just to survive in this environment, but to thrive. MRI AnalytiX empowers efficiency, by simplifying and visualizing information in a manner that enables leaders to easily understand what’s happening, thus moving from insight to action quickly and effectively.  Decision-makers can quickly see the macro trends that are shaping their businesses and subsequently drill down from standard dashboards to identify outliers and raise additional questions that AnalytiX can answer.

MRI AnalytiX enables organizations to focus on results instead of the process of gathering information. Results are on-demand with up-to-date analysis and presentation-ready reporting always available, so business users get answers on their own in minutes, instead of waiting weeks for standard monthly reports. Moreover, staff can spend their time more effectively creating value for their organizations instead of wasting days hurriedly preparing information that will already be stale once the analysis is complete. And as cloud-based solution, AnalytiX is accessible anywhere, including via mobile devices.

The primary benefits of MRI AnalytiX include:

• Assess trends: Identify how key market indicators will affect conditions so real estate firms can take action long before the competition. From internal indicators like expense trends and occupancy, to performance factors like delinquencies and tenant health, data visualizations show where management should focus.
• Analyze portfolios: Easily unearth the factors that are preventing assets from performing at their full potential and identify the best mix of properties and tenants for the organization. AnalytiX was designed by real estate professionals for real estate professionals, so the solution makes it easy to perform the analyses, including analyses of geospacial information, that truly make a difference for the bottom line.
• Maximize returns and minimize risk: Gain insight into fundamental shifts in asset and lease mix as well as changing market dynamics by visualizing performance.
• Ease-Of-Use: Free the business community to immerse themselves in a wealth of real estate and financial performance information without the need to maintain a technology organization to support BI.

MRI AnalytiX is currently available with MRI Investment Modeling and MRI Financials. It will also be available for MRI Advanced Retail and MRI Commercial Management in the third quarter of this year. And while MRI AnalytiX leverages Tableau as its primary BI engine, organizations will also be able to access their data using third-party BI tools when the AnalytiX Data Store is released in the fourth quarter of this year.

“MRI AnalytiX is unlike any other BI solution on the market because it was designed specifically to maximize insights and user experience for real estate professionals,” said Charles McDowell, Vice President of Commercial Solutions and Client Experience at MRI Software. “We are empowering our business users to embrace their data and quickly get the results they need on their own. And because it’s a highly graphical, immersive experience, it’s actually fun to use. With AnalytiX, organizations can uncover hidden insights in a way that leaders intuitively understand, thus driving informed decisions in a timely and relevant manner.”

For more information on MRI AnalytiX, please visit https://www.mrisoftware.com/analytics-and-reporting/.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

The post MRI Software Introduces AnalytiX: a Business Intelligence Solution Built for Real Estate appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Qube Global Software (Qube) today announces its partnership with intelligent information extraction and document management platform LEVERTON. The companies will work together to serve clients across the real estate sector with AI based technology for next generation real estate management.

Over the last 40 years, Qube Global Software has helped thousands of clients managing or occupying real estate, ranging from small businesses through to global corporations: bringing increased efficiency, reduced costs and full access to vital information. Qube Global’s solutions have always operated to enable compliance with core accounting and financial reporting regulations, including upcoming lease accounting standards.

This partnership will deliver a number of significant benefits to the Qube client base.
The primary benefit being the possibility to accelerate adding lease information to the Qube real estate solution by using LEVERTON to perform lease abstractions and auto uploading relevant data into the system. This area will be at the heart of the future partnership.

LEVERTON uses deep learning, a subset of Artificial Intelligence programmed to simulate the way the human brain functions, to automatically extract data from unstructured documents. This has been particularly valuable in the real estate sector, and LEVERTON is already working with real estate giants such as JLL and STRABAG to facilitate the smarter and more efficient management of large real estate portfolios.

Artificial Intelligence is a powerful technology enabling significant efficiencies in the way organizations, buy, sell and manage real estate. The partnership means that customers will benefit from a comprehensive solution for real estate management allowing for big data analytics.

Qube’s lease management functionality is already used by thousands of major international brands to support their real estate operations, such as Tesco, M&S, Debenhams and Hanesbrands. By partnering with LEVERTON, this combination of state of the art AI technology and the deep financial capabilities of Qube will continue to transform the world of real estate technology.

About the partnership, Steven Fox, Head of Sales – Occupier Solutions at Qube comments,
“Naturally we are excited about this partnership and the technology it will deliver to our clients. LEVERTON will sit ideally alongside our solution and will give customers a potential leap in efficiency. It comes at an ideal time when these customers will be looking to adhere to the latest lease accounting standards and many have the associated lease abstraction challenge to face.”

About Qube
Qube Global Software is a leading supplier of property and facilities management software throughout the world. Over the last 40 years it has helped thousands of clients, ranging from small investors through to global corporations, manage every aspect of their property portfolios. Its products can bring increased revenue and efficiency, reduced costs and full access to vital information for every sector of the property industry.

About LEVERTON
LEVERTON develops and applies disruptive deep learning technologies to extract, structure and manage data from corporate documents in more than 20 languages. Our platform empowers corporations and investors to be more efficient and effective with their data & document management. It facilitates quick and data-driven decision-making by creating actionable, valuable insights out of unstructured data. More than 100 global industry leaders trust LEVERTON to build their CORE. The intelligent platform runs on LEVERTON servers in ISO 27001 and ISO 9001 certified data centers that guarantee highest security.

The post Qube Global Software Partners with Leading Artificial Intelligence (AI) Platform LEVERTON | 12 June 2017 appeared first on MRI Software.

MRI Software Appoints David Carner to Lead Multifamily Business Unit

Real Estate Technology Veteran to Lead All Strategic and Operational Initiatives
for MRI’s Growing Multifamily Business

Solon, OH – June 12, 2017 – MRI Software, a global leader in real estate software solutions, today announced the appointment of 25-year industry veteran David Carner as group vice president for the company’s multifamily business unit. With extensive senior management experience at real estate technology providers in functions ranging from product management and operations to business development and marketing, Carner brings the end-to-end expertise to build on and accelerate the growth of MRI’s multifamily business.

“Dave’s appointment marks a significant milestone for our business and further emphasizes our long-term commitment to and leadership position in the multifamily sector,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “Dave will be a huge asset to MRI, and we could not be more pleased to have his invaluable experience on our leadership team. Dave will have our total support as he guides us to new heights in multifamily.”

Carner will take over MRI Software’s fast-growing multifamily business in the midst of record expansion of its platform across all sectors, including conventional and affordable housing. In the past twelve months alone, MRI has grown its multifamily offerings to include solutions for automated communications, resident screening and asset management with the acquisitions of CallMaX, ResidentCheck and Integratec, respectively. These solutions, along with new innovations in MRI’s Multifamily Connect Suite, meet client needs for property and asset management and full resident lifecycle engagement, from prospect attraction to resident retention.

“As someone who’s been in this industry for well over two decades, I am very familiar with MRI Software’s long history of success helping multifamily real estate organizations elevate their business,” said Carner. “I’m thrilled to be joining the team now at a time of unprecedented investment and momentum in multifamily. MRI’s commitment to delivering comprehensive and flexible software supported by an open and connected ecosystem of innovative partners is  the ultimate in client experience and the core tenet upon which we will continue to build the MRI legacy.”

Prior to joining MRI Software, Carner was senior vice president at First Advantage, a provider of comprehensive background screening solutions, where he was responsible for guiding the success of its Residential Solutions business. Before First Advantage, he spent 18 years with RealPage, including serving as president of both LeasingDesk and CrossFire. Carner graduated cum laude from the University of Pittsburgh and completed an MBA from the Cox School of Business at Southern Methodist University. He will be based out of MRI’s new Dallas office.

MRI Software’s multifamily business is built upon its Residential Suite. These flexible solutions for conventional and affordable housing adapt to individual customer needs, allowing property owners and managers to take control of the entire real estate cycle, from online leasing and lead qualifications to renewals and statement of deposit.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

The post MRI Software Appoints David Carner to Lead Multifamily Business Unit appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are proud to announce that a number of our customers have been shortlisted at the prestigious ARMA ACE Awards.

The awards ceremony will take place on the 7^th July at the Tobacco Dock, London, and Qube Global Software, Fixflo and Engage are the silver sponsors.

We would like to wish everyone the best of luck!

Premier Estates

Corporate Social Responsibility Firm of the Year

Customer Service Award

On-site Staff Member of the Year – Graz Sausionis

Unsung Hero – Louie-Mae Brisley

FirstPort Bespoke Property Services

Customer Service Award

Service Charge Accountant of the Year – Charlotte Perrott

Property Woman of the Year – Sue Petri

Michael Laurie Magar

Corporate Social Responsibility Firm of the Year

Apprentice of the Year – Oliver Fanthorpe

Property Woman of the Year – Shelley Jacobs

Encore Estate Management

Larger Managing Agent of the Year

Service Charge Accountant of the Year – Emma Langford

Unsung Hero – Nick Archer

McCarthy & Stone Management Services

On-site Staff Member of the Year – Sharon Gratton

Service Charge Accountant of the Year – David Mann

AMAX Estates

Smaller Managing Agent of the Year

Service Charge Accountant of the Year – Daniel Kemp

Burlington Estates

Medium Managing Agent of the Year

Crabtree Property Management

Service Charge Accountant of the Year – Chereya Parmar

Homestead Consultancy Services

Customer Service Award

We ae proud to be linked to these organisations and to be their supplier of choice for Property Management solutions.

Good luck to all of those who have been shortlisted!

The post Qube Global Software customers shortlisted at ARMA ACE Awards | 6 June 2017 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Trevor Youens has been appointed as Managing Director of Residential Solutions at Qube Global Software.

This newly created role highlights the importance of the residential property sector to the company, the commitment to the growing Private Rented Sector (PRS), as well as building on its investment in Proptech.

Trevor has extensive and varied experience of the residential sales and lettings industry; in 2009 he was appointed as Managing Director of SPA Microsystems, which was subsequently acquired by Qube Global Software in November 2012.

As Managing Director of Residential Solutions, Trevor continues his position as MD of Qube SLM, as well as taking overall responsibility for the company’s direction within the residential sector to ensure that Qube Global Software solutions are aligned to customer requirements.

John Cuppello, CEO of Qube Global Software, said: “Trevor has successfully led our sales and lettings activities since 2012, and has been instrumental in the development of our new solutions that will be hitting the market imminently.

“As part of our unique approach to tech in the real estate industry, we already partner with a range of Proptech companies across the residential market, and this programme is only going to grow. Trevor is perfectly placed to lead this vital part of our business strategy.”

Trevor Youens said: “I am delighted to take on this new challenge, particularly given the rapid growth of PRS and the industry’s interest in Proptech. By focusing on delivery to the entire sector, we are demonstrating our continued commitment to our customers within this market.”

The post Qube Global Software demonstrates continued commitment to residential sector with key appointment | 31 May 2017 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are pleased to announce Qube Global Software has once again been officially accepted as a Crown Commercial Service (CCS) supplier under the G-Cloud government framework, now being included in the most recent version, G-Cloud 9.

We have five offerings listed on G-Cloud 9 – Qube Horizon, Qube Planet, Qube PM, Qube SLM and Qube Space.

Government frameworks provide public sector buyers with a pre-approved list of suppliers, streamlining the process of entering contracts. Publicly-funded companies can access an online collection of suppliers, referred to as the Digital Marketplace, to find eligible providers, compare their offerings and select the best value for their requirements. Through the competitive tender process and regular benchmarking, CCS ensures customers have access to the most competitive deals.

Qube Global Software has been a longstanding and trusted provider of property, facilities and space management software to well over 100 NHS Trusts, councils and central government bodies in the UK – relationships we look forward to strengthening as a result of our inclusion in G-Cloud 9 Framework. In addition, we look forward to building links with new customers in the public sector.

If you would like to learn more about how we can help your company and our inclusion on this framework, please don’t hesitate to contact us.

The post Qube Global Software designated as a G-Cloud 9 Framework supplier | 31 May 2017 appeared first on MRI Software.

MRI Software and GI Partners Announce Strategic Partnership with TA Associates

Investment supports expansion of MRI’s global footprint and mission-critical enterprise software applications to help real estate companies improve operations and maximize portfolio value

SOLON, OH – May 23, 2017 – MRI Software, a global leader in real estate software solutions, today announced that it has signed a definitive agreement to receive a strategic investment from TA Associates, a leading global growth private equity firm. GI Partners acquired MRI in June 2015 and will remain an investor in the company, alongside TA Associates.

As one of the founders of the real estate technology industry, MRI Software has remained committed to providing insight, automation, flexibility and choice for clients since its founding in 1971. Recognizing that every organization has unique requirements, MRI gives real estate owners, operators, occupiers and investors the freedom to choose the right mix of technology for their business. Today, MRI’s comprehensive and flexible portfolio includes solutions for commercial and multifamily property management, leasing, accounting and finance; offerings for managing the tenant and resident lifecycle; robust investment management and modeling solutions for optimizing the performance of deployed capital; and sophisticated reporting and analytics offerings. MRI supports its 3,100 global clients from its headquarters in Solon, Ohio, and offices in Atlanta, Dallas, London, Hong Kong, Singapore, Sydney and Toronto.

Since GI Partners’ investment in 2015, MRI Software has experienced considerable growth through product innovation, international expansion, and multiple strategic acquisitions. During this time, MRI has significantly expanded its offerings for the multifamily real estate sector and launched the industry’s most comprehensive Investment Suite, with solutions to analyze, manage and communicate the performance and risks of real estate assets and investments. MRI also brought on more than 70 partners and connected their solutions to its open platform, providing clients unmatched flexibility and choice through true enterprise software plug-and-play in a single, unified experience. Over the same period, MRI has added more than 1,000 clients and 160 employees worldwide.

“MRI Software is a leader in real estate technology because of our relentless commitment to delivering value to our clients and partners through exceptional products, services and relationships,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “GI Partners has been a strong supporter and a key contributor to the acceleration of our business, and we look forward to continuing this relationship. Expanding our partnership to include TA Associates, a firm with deep software industry experience and global scale, will provide additional resources to fuel our growth through further expansion of our international footprint and our real estate technology solutions. The combination of these two leading strategic investors will provide greater access to global resources and enables us to invest even more to deliver innovation, flexibility and value for our clients and partners.”

“Since our partnership with MRI Software in June 2015, the company has successfully executed against its growth strategy, rapidly accelerating topline revenue growth, delivering significant levels of product innovation, deepening its presence in international markets, and expanding its open and connected partner ecosystem,” said Travis Pearson, Managing Director of GI Partners and a member of the MRI Software Board of Directors. “It has been a pleasure to partner with and support Patrick Ghilani and his management team as they solidified MRI’s leadership in the real estate technology market. We look forward to continuing to support MRI and partnering with TA Associates as the business continues to expand globally.”

“MRI Software has established a differentiated position in the fast-growing real estate software space with a comprehensive, configurable and open platform that meets the unique needs of real estate owners, operators and investors,” said Hythem El-Nazer, a Managing Director at TA Associates who will join MRI Software’s Board of Directors. “With its significant investment in product, people and partners, we believe MRI is well positioned to continue growing its leadership position in the commercial, residential and investment management markets. We are excited to partner with Patrick Ghilani and his team, alongside GI Partners, to support the company’s continued innovation and growth.”

Jason Werlin, a Managing Director at TA Associates, also will join MRI Software’s Board of Directors. In addition to Mr. Pearson, Jeff Sheu, a Director at GI Partners, will also remain on the Board.

Additional terms of the deal were not disclosed. Shea & Company is acting as the exclusive financial advisor to MRI Software and GI Partners during the transaction. SunTrust Robinson Humphrey is acting as a financial advisor to TA Associates.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit www.mrisoftware.com.

About GI Partners

GI Partners is a leading private investment firm based in San Francisco. The firm has raised over $14 billion in capital since inception through private equity and real estate strategies from recognized institutional investors across the globe. GI Partners’ private equity team is active in a number of key sectors, including IT Infrastructure, Healthcare, Software, and Services. For more information on GI Partners and its entire portfolio, please visit www.gipartners.com.

About TA Associates

TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 480 companies around the world and has raised $24 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the business services, consumer, financial services, healthcare and technology industries. More information about TA Associates can be found at www.ta.com.

Press contact:
LEWIS PR for MRI Software
Jeff Miller
541.207.3461
mrisoftware@teamlewis.com

Chris Tofalli for GI Partners
chris@tofallipr.com
914.834.4334

BackBay Communications for TA Associates
Zachary Tramonti
617.391.0797
zachary.tramonti@backbaycommunications.com

The post MRI Software and GI Partners Announce Strategic Partnership with TA Associates appeared first on MRI Software.

One-Third of ICSC North American Top 50 Rely on MRI Software to Improve Performance, Gain Insights and Drive Decision Making 

Experts from MRI Software Demo Real Estate Technology Solutions for Commercial Owners and Operators, Retail Tenants and Brokers at ICSC RECon 2017 in Las Vegas, May 20 – 24

Solon, OH – May 22, 2017 – MRI Software, a global leader in real estate software solutions, today announced that 30 percent of the International Council of Shopping Center’s top-50 North American shopping center ownership groups are using the company’s solutions to increase the performance of their assets, streamline processes and gain critical insights to power rapid decision-making.

MRI Software’s solutions for the shopping center real estate market address multiple roles within the industry, including commercial property owners and operators, retail tenants and real estate investment brokers:

• Commercial Property Owners and Operators: The MRI Commercial Suite, which includes Advanced Retail, and the MRI Investment Suite together enable commercial landlords to increase performance of both retail leases and real estate operations. Organizations can maximize revenue by automating complex retail lease calculations and improve forecasting with increased visibility into financial performance. Firms can make more informed business decisions based on actionable insights into non-financial retail data with MRI’s AnalytiX Portal.

• Retail Tenants: MRI Corporate Real Estate (CRE) empowers retail tenants to take control of lease expenses and terms by automating complex calculations and providing enhanced data visibility. Percentage rent, recurring payments and lease offsets are no longer shrouded in mystery, and retail tenants never need miss a critical lease term or deal with unpleasant financial surprises again.
• Real Estate Investment Brokers: With the announcement that a commonly used valuation software product will discontinue support in the near future, many commercial real estate professionals will have little choice but to undergo a major implementation and migration burden. MRI’s Global Valuations offers an alternative to companies that are being forced to transition to a new platform that may not meet their unique business needs. With support for multiple valuation methodologies and deployment options including SaaS and desktop, MRI Global Valuations gives clients the flexibility to choose what works best for their organization. In addition, MRI provides the unique ability to share and collaborate on valuation files within the investment broker’s real estate community.

“MRI’s clients rank as some of the largest shopping center owners and operators based on total global square footage,” said Brian Zrimsek, Chief Product Officer at MRI Software. “With billions of dollars of assets under management, our clients require a comprehensive and flexible solution that can provide instant, accurate insight to guide operations and optimize business results. Our open and connected ecosystem means that clients can easily integrate partner and other third-party solutions into their framework to create the best fit for their specific business needs.”

MRI Software Solutions in Action: Phillips Edison & Company

Phillips Edison & Company (PECO) is just one member of the ICSC North American Top 50 using MRI’s software solutions. PECO owns and manages grocery-anchored shopping centers and uses MRI Software to manage more than 340 properties. MRI Software’s ability to configure the solutions and to integrate effortlessly with other critical applications was important to Shaun Smith, CIO at PECO.

“MRI’s comprehensive solutions removed the integration pain points by plugging into other key applications and improving our overall software ecosystem rather than trying to force us into a box of their creation. With MRI’s open ecosystem we are able to create the best possible system for our business’s unique needs at this time,” said Smith.

Before the firm deployed MRI Software, every month, the lease renewal group would run spreadsheets to ensure they had not overlooked expirations. Today, MRI keeps that data updated and fresh in real time. Likewise, MRI’s ability to automatically feed marketing data to the website and exchange data with the ERP system has saved the company hundreds of hours of work.

MRI Software will be demoing its solutions for the shopping center real estate market at booth N1224 in the Marketplace Mall at ICSC RECon 2017 in Las Vegas, May 20 – 24. For more information, please stop by the booth or request a meeting.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit www.mrisoftware.com.

The post One-Third of ICSC North American Top 50 Rely on MRI Software to Improve Performance, Gain Insights and Drive Decision Making appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

It has been an exciting six weeks for Property Awards Ceremonies, particularly with three major events taking place in the residential sector:

• Property Week – Property Awards
• The Rent Awards
• Property Week – Resi Awards

We are really proud of the success our customers have had at these awards and would like to offer huge congratulations to all of them.

Some of our customer winners include:

Grainger plc

Property Company of the Year – Property Awards
Developer of the Year – The Rent Awards
Asset Manager of the Year – Resi Awards
Landlord of the Year (Privately Owned) – Resi Awards

Knight Frank

Residential Investment Agency of the Year – Resi Awards
International Sales Agency of the Year – Resi Awards
Letting Agency of the Year – Resi Awards

U+I

Placemaking Award – Property Awards

Get Living London

Award for Customer Service – The Rent Awards

Strutt & Parker

UK Sales Agency of the Year – Resi Awards

Homes and Communities Agency

PRS Deal of the Year – Resi Awards

The Land Trust

Newcomer of the Year – Resi Awards

A2 Dominion Group

Large Developer of the Year – Resi Awards

Whilst these are the results of the efforts of people at these companies and often for specific projects, we are proud to be linked to these organisations and to be contributing to their operations through technology provision. In some cases we have been supporting the growth of these businesses for over 20 years.

We also want to extend our congratulations to our other customers that were shortlisted and highly commended.

The dominance of these organisations across these awards proves that there is nobody bigger in UK residential software than Qube Global Software.

Additional congratulations to Rendall and Rittner for winning Property Manager of the Year at the RESI Awards, and SAY Property Consulting for winning Supplier of the Year the Rent Awards – both of which we sponsored and presented.

The post Our customers dominate recent awards – huge congratulations | 15 May 2017 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are pleased to announce that Poole Hospital NHS Foundation Trust has chosen to implement Qube Space as their new space management software.

Poole Hospital NHS Foundation Trust provides district hospital services and is the major trauma centre for 270,000 residents in Poole, Purbeck and east Dorset. Their investment in Qube Space will be used to manage occupancy and utilisation across their estate totalling 734,000 square feet.

Qube Space is a complementary solution to Planet, Horizon and Qube Bookings, providing a one stop shop for managing and maintaining occupancy using the original CAD drawings. Information about a Room, Ward, Department or Building can be configured 80% faster than competitive products, significantly reducing the operational burden.

The Department of Health expect to make £1bn in savings by reducing the footprint of the NHS Estate, and Poole Hospital NHS Foundation Trust’s Qube Space implementation will help them work towards these aims.

We are delighted Poole Hospital NHS Foundation Trust has chosen Qube Space and we are looking forward to working with them moving forward.

The post Poole Hospital NHS Foundation Trust become Qube Space customer | 3 May 2017 appeared first on MRI Software.

Savills Plc and TH Real Estate select MRI Software Version X for web-based property management solution

London, U.K. – April 13, 2017 — Prominent European real estate firms are turning to MRI Software, a global leader in real estate software solutions, to more effectively manage their local and global real estate portfolios and investments. Companies like Savills Plc, TH Real Estate, and others in the EMEA region have selected MRI Software’s web-based Version X property management and accounting platform to drive global operational efficiencies and provide an intuitive online experience for users.

Real estate technology is poised to be an integral tool for owners, operators, and investors to adapt their strategies in response to the potential impact of political and economic change. According to a 2017 research report from KPMG, the real estate industry will have to “live with uncertainty on an ongoing basis, particularly around what Brexit is likely to mean in practice for the UK and the EU.” Additionally, in a joint survey from PwC and the Urban Land Institute, entitled “Emerging Trends in Real Estate Europe 2017”, sixty-one percent of survey respondents indicated they plan to tailor their real estate strategy in response to demographic and social changes.

“For real estate companies across the globe, the ability to make strategic business adjustments based on changing market conditions will be critical for future success,” said Stephen Baker, Vice President, International and Strategic Markets at MRI Software. “MRI’s open and flexible Version X platform gives real estate investors and managers the agility to make the best decisions for their business, even during uncertain times.”

Savills Plc selects MRI Version X for property management

Savills Plc, a global real estate services provider, has selected MRI’s Version X platform to drive operational performance and efficiencies for its commercial property business in key European locations. Savills is one of the largest real estate companies in the world, and its property management team manages 230,000,000 square feet of property with a capital value in excess of £30 billion.

“Savills is delighted to continue our journey with MRI Software,” said Aron Feeley, Director and Head of Property Management Systems at Savills. “We continue to innovate how we provide solutions not only to our clients, but to our internal staff – be they property managers, financial analysts, operational, or site-based staff. We have developed a number of solutions that rely on MRI’s core platform. Without MRI’s open architecture, we simply wouldn’t be able to deliver this level of innovation. Version X builds on this further by ensuring we can always integrate with best-in-class solutions.”

TH Real Estate manages global investments with MRI Version X

TH Real Estate, one of the largest real estate investment managers in the world with c.$97bn in assets under management, is among the growing number of firms worldwide that benefit from MRI Software’s premier web-based Version X platform. Following a successful upgrade, TH Real Estate now has more than 400 total users at locations throughout Europe on Version X, including more than 30 managing agents. Users have the freedom to access MRI’s intuitive web-based interface from any device and any browser. TH Real Estate relies on MRI Software to track and manage a diverse set of holdings across multiple countries, including Austria, France, Germany, Italy, and the UK.

“The ability to access relevant property and investment data via the web gives our users and managing agents the freedom to focus on making the best decisions for stakeholders,” said Mark Griffiths, Director of IT and Operations at TH Real Estate. “The MRI team gives us the expertise and support we need to manage our real estate business.”

MRI’s London-based global professional services team worked in partnership with TH Real Estate to deliver a powerful yet flexible web-based property management solution. MRI’s unique ability to support local and global property management requirements gives TH Real Estate the flexibility to manage portfolio performance at the local and multinational level.

Supporting Resources:

• MRI EMEA https://www.mrisoftware.com/emea/
• MRI Version X https://www.mrisoftware.com/products/version-x/

About Savills
Savills provides consulting services in connection with commercial, residential and agricultural properties, property-related financial services and investment management, which includes investment management for institutional or professional investors. Savills operates from over 700 owned and associate offices, employing more than 30,000 people in over 60 countries throughout the Americas, Europe, Asia Pacific, Africa and the Middle East. For more information, visit http://www.savills.com/.

About TH Real Estate
TH Real Estate, an investment affiliate of Nuveen (the investment management arm of TIAA), is one of the largest real estate investment managers in the world with $97bn in AUM (as of 31 December 2016). Managing a suite of nearly 80 funds and mandates spanning both debt and equity across diverse geographies, sectors, investment styles and vehicle types, the firm provides access to every aspect of real estate investing. With offices in 20 cities throughout the US, Europe and Asia Pacific, over 500 professionals and 70 years of investing experience, the platform offers deep local expertise coupled with a sophisticated global perspective. TH Real Estate’s investment, asset management and corporate strategies grow from a deep understanding of the structural trends that will shape the future of real estate and responsible investing beyond market cycles. This ‘Tomorrow’s World’ approach sits at the core of our investment process and business operations, informing our long-term view of real estate investments for the enduring benefit of both clients and society. For more information, visit www.threalestate.com.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit www.mrisoftware.com.

Press contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541.207.3461

The post Leading European real estate firms rely on MRI Software to manage global portfolios appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are pleased to announce that Qube Global Software have joined the RICS Tech Affiliate Program (TAP), another step towards better Proptech collaboration in the industry.

The program is intended to increase awareness and adoption of technology in the Real Estate and Built Environment sectors, and is open to any business offering data and technology solutions to the sector.

The Royal Institute of Chartered Surveyors (RICS) is the global professional body for promoting and enforcing the highest international standards in the valuation, management and development of land, real estate, construction and infrastructure.

As a software supplier to the real estate industry, we understand that any individual or firm registered with RICS are subject to their quality assurance.

That’s why we ensure that Qube Global Software solutions are RICS compatible, to give our customers confidence that they are always complying with best practice.

We are excited to be a part of the Program and we are pleased to see another step towards better PropTech collaboration in the industry.

The post Qube Global Software join the RICS Tech Affiliate Program (TAP) | 24 April 2017 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

On Tuesday 21st March Qube Global Software hosted a webinar discussing the impact of IFRS 16 and how software can manage adding property leases to the balance sheet.

The webinar was attended by people from a wide range of industries, and included a lively Q&A session in which experts Steven Fox and Garreth Cosgrave provided advice on the subject. If you missed the session you can view the recording online now.

Qube Global Software’s IFRS 16 solution, Horizon, provides the ability to:

• Model the best adoption method in advance of 1st Jan 2019 (full retrospective and modified retrospective)
• Provide IFRS 16 calculations on a periodic basis from the standard lease data held within the system. This includes a lease payable wizard that provides a step by step guide to capturing lease data for newly signed leases. Including dedicated fields for dilapidation provisions, costs and incentives for signing the lease.
• Modelling the most advantages terms of new leases before they are signed. i.e. the impact a specific term will have on the corporate balance sheet.
• Automatically notify finance of updates to the probability of lease clauses being actioned e.g. break clause, or extensions

Managing IFRS 16 within the real estate system ensures that the data is captured at source and requires no double entry of data to a third-party system. It also guarantees visibility between the property and finance departments for newly signed leases, ones currently under negotiation and rent reviews etc. Therefore, when a new lease is signed, it will not be missed from the next periods calculations.

The post Qube Global showcases IFRS 16 solution in popular webinar | 28 March 2017 appeared first on MRI Software.

Datex Property Solutions and ClickPay Partner to Provide Payment Solution for MRI Software Users Group Website

Los Angeles, CA – March 27, 2017 – Datex Property Solutions, makers of Datex BI, a real estate business intelligence platform, and developer of the website for the MRI Software Users Group (MRISUG), an organization of users of MRI Software, partnered with ClickPay to enable MRISUG members to securely pay their membership fees electronically.

The MRISUG was founded in 2002 with the goal of improving user expertise and leveraging best practices for optimization of MRI Software. MRI Software is used by thousands of real estate portfolio owners and operators across the commercial, retail and multifamily markets, and has been a market leader in the real estate software industry since its founding in 1971.

MRISUG members include property management, accounting and operations managers at a wide range of real estate companies across the multifamily, retail and commercial real estate spectrum. The MRISUG website provides an environment that encourages networking and dialogue between members, facilitating the sharing of member expertise as well as solving problems together.

ClickPay’s API seamlessly integrates with Datex, allowing MRISUG members to securely and conveniently pay their membership fees via ACH or credit card through ClickPay’s easy-to-use payment platform.

About Datex Property Solutions

Datex Property Solutions is the maker of Datex Business Intelligence (Datex BI), the market leading real estate business intelligence and data warehouse solution. Datex BI gives real estate portfolio owners visual, pushbutton simple access to their core real estate data. Datex turns insight into action through an approach called ‘Dashboard to Documents’, enabling folks to work smarter, see the whole picture, and have nothing fall through the cracks. Datex clients report a 40% improvement in the productivity of their property managers and accountants, resulting in significant recurring headcount savings. For more information, please visit: www.datexdata.com.

About ClickPay

As the leading provider of innovative billing and payment solutions for the multifamily and commercial real estate industry, ClickPay offers fully integrated billing, payment processing, and software services to accelerate the financial performance of its customers by reducing operating costs, creating operational efficiencies, and boosting resident satisfaction. These services provide property owners and managers with a customizable, electronic solution to bill and collect from their residents including online payments, lockbox, on-site check scanning, paper statements, and e-billing. ClickPay accepts all payment methods including e-check (ACH), paper check, debit and credit card, and American Express. Utilizing years of collective experience in the real estate, electronic payment, and technology sectors, ClickPay has developed a comprehensive suite of services focused on real estate technology and financial performance. For more information, visit www.clickpay.com.

Press contact:

Emily Wells
404.250.4018
emily.wells@MRIsoftware.com

The post Datex Property Solutions and ClickPay Partner to Provide Payment Solution for MRI Software Users Group Website appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are pleased to welcome three new partners to our Qube Connect Partner Programme.

Qube Global Software launched the Qube Connect Partner Programme in 2016, with the purpose of creating a network of software and service providers that will deliver better deals and improved service to customers.

We are delighted that three new partners have joined the Programme this month: CCT Marketing, Teclet and Kykloud.

CCT Marketing
CCT is a market leader in automated marketing for social media and search; its technology enables and exploits the full potential of intelligent and highly targeted marketing in social media and search engines.

Teclet
Teclet is a software platform that automates the setup of tenancies and includes referencing, merchant services, inventory solution, document creation/execution, the required compliance checks and measures and much more; saving your agency time and money.

Kykloud
Kykloud is an enterprise-class software product that allows you to carry out condition assessments on your iPad. The sophisticated asset information portal on which Kykloud is built allows data to generate whole lifecycle plans of up to 30 years across single sites or entire portfolios at the touch of a button.

To find out more about becoming a Qube Connect Partner, visit our dedicated page.

The post New partners join the Qube Connect Partner Programme | 27 March 2017 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

NFMT Baltimore 2017 brought together real estate industry professionals from across the globe for another exciting and successful event. NFMT is a trade show and educational conference for facility professionals responsible for the management, operations, maintenance, renovation and construction of non-residential buildings. The exhibit floor gave the Qube Space team an opportunity to meet and network with nearly 7000 industry experts.

Qube Space is a joint venture between Qube Global Software and their partners, CADM.co.UK.  During the 3 day exhibition March 7 through 9, the powerful and simple to use space planning and move management solution was demonstrated via a built-to-scale office floorplan comprising solely of Lego bricks. The intuitive mobile app showed how utilization surveys taken throughout the conference can result in easy to interpret heat map surveys for improved decision making.

A winner was selected at the end of each day from the hundreds of booth visitors.  Day 1 and 2 awarded Bruce Giza of NOAA and Matthew Lucas of the American Psychological Association a new tileMate tracker.  On closing day, Robert Hayman of WSFS Bank was awarded the grand prize of a Sonos Play:3 wireless speaker system.

The post NFMT Baltimore 2017 | March 9, 2017 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Qube Global Software are hosting a Build-to-Rent seminar on 22 March 2017 to discuss how software can help satisfy the increasing demands of residents, and offer improved customer satisfaction throughout the resident journey.

At Qube Global Software, residential management is part of our heritage. Having worked in the sector for over 40 years, we have built up a rich level of functionality and solutions, and were the first to be able to deliver a solution to the UK Build-to-Rent market.

Join us on 22 March to explore how technology can be used to meet the increasing levels of service demanded by residents and meet other real estate professionals interested in the rapidly growing PRS sector.

The day will be split into morning and afternoon sessions:

Morning: Discovery session

The morning session, ‘Residential Property Developers and Managers: Gain a Commanding Position through Better Technology’ will focus on the end-to-end process within PRS / Build-to-Rent developments and operations. Suitable for anyone already in property management and wanting to enter the PRS / Build-to-Rent market, this session will showcase the latest range of lettings and property management technology solutions available from Qube Global Software.

Afternoon: Customer session

The afternoon session, ‘Our PRS platform: Step up your Technology at the Shard to get more from the Market’ is designed for current Qube Global Software customers. The session will offer advice on how to add the latest elements from the Qube Global Software suite as a low cost, low risk entry to the market, and to deliver added value to your residents.  You will be able to hear what other Qube Global customers are doing to tackle the market and find out more about the latest relevant functionality in your solutions.

If you are interested in attending either of these sessions or if you want to know more, please click on the links above or get in touch.

The post Qube Global Software to hold PRS seminar at the Shard | 9 March 2017 appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

We are pleased to announce that Bath and North East Somerset Council have decided to extend their suite of Qube Global Software solutions by investing in Qube Planet to manage their Asset Management requirements.

Bath and North East Somerset Council are a local authority and have been using our Qube Property Management solution (Qube PM) for the last 27 years to manage their mixed portfolio. They have chosen to implement Qube Planet in order to provide a more comprehensive and longer term solution than their incumbent system.

Qube Planet offers the Council a complete asset management solution, managing compliance and providing significant cost savings to the business.

We are delighted that Bath and North East Somerset Council have chosen to extend their relationship with Qube Global Software and we look forward to continuing our partnership with them moving forward.

“As a Local Authority responsible for managing an extensive and varied estate, it is vitally important to us that we hold up-to-date compliance information in an accessible and easy to manage format.  It is also very important that all our IT systems work together.  Qube recently announced that they will be linking their PM system with Planet.  This created an unmissable opportunity for us to merge our existing excellent tenant management system with a new and innovative asset management system. We are looking forward to working with Qube on this exciting new project.”

Jan Harley – Property Intelligence Manager, Bath & North East Somerset Council

The post Bath and North East Somerset Council choose Qube Planet for asset management | 15 February 2017 appeared first on MRI Software.

MRI Software expands Asia presence with iRealz partnership

New partnership provides local consulting and implementation services for high-growth real estate market in Asia

Solon, OH – February 9, 2017 – MRI Software, a global leader in real estate software solutions, announced today that iRealz, a company focused on delivering real estate software solutions to the Asian market, has joined the company’s Partner Connect program. Clients of MRI Software and iRealz will benefit from a streamlined process for service engagement, timely roll out of software updates, and the introduction of additional MRI functionality to the Asian market. MRI’s unique ability to configure to local requirements gives real estate investment firms and property managers in Asia the freedom to do business on a regional or multinational level.

“The addition of iRealz to the MRI Partner program reinforces our commitment to the expanding global market,” said Stephen Baker, Vice President, International and Strategic Markets at MRI Software. “Real estate firms in the Asian market will have access to the technology and services they need to grow their business locally and globally. Geographically, iRealz complements our current Asian office locations in Singapore, Hong Kong, and Sydney.”

Based in Singapore, iRealz has extensive experience implementing real estate software solutions for a variety of business functions, including property accounting and lease cycle management, asset management and investment accounting, leasing pipeline management, workflow design, budgeting and forecasting, management reporting, and more. iRealz supports clients located throughout Asia, including China, Japan, Hong Kong, Singapore, Malaysia, and Thailand.

“We are particularly excited to support MRI Software’s expanded product suite in the Asian market,” said Marcus Loy, iRealz Director. “Through MRI’s Investment Management suite, analytics capabilities, and feature-rich Version X platform, real estate firms in the region will benefit from sophisticated technology solutions while leveraging international best practices and improving operational efficiency.” 

Supporting Resources

MRI Asia website https://www.mrisoftware.com/asia/  

About iRealz

Based in Singapore, iRealz is a company with extensive experience implementing real estate Software Solutions for the Asia Pacific markets. iRealz management and staff have more than 40 years of combined experience and have successfully managed and implemented real estate software solutions across all the major counties in the Asia Pacific region including Singapore, Malaysia, Hong Kong, China, Japan,  Thailand and Australia. For more information, please visit http://www.irealz.com/.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge.

Press contact:

Emily Wells
404.250.4018
emily.wells@MRIsoftware.com

The post MRI Software expands Asia presence with iRealz partnership appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

The new release of Qube PM will be available imminently and includes even more features, adding to the overall richness of the application. As always, the main release will be free to all our subscribing customers.

As a Qube PM user, our annual releases are designed to keep you up-to-date with regulation, legislation and industry body guidance – in addition to ensuring you improve efficiency and stay ahead of your competition.  Many of these changes are based on user community suggestions or through our strategic product development initiatives.

A snapshot of the hundreds of enhancements includes:

Fixflo-Qube PM interface
We have developed an interface with Qube Connect partner Fixflo, providing functionality to enable maintenance issues to be logged online by your occupiers. This information is then automatically imported into Qube PM, streamlining processes to improve efficiency and customer service.

Substitute a replacement term instead of ‘Tenant’
As the system is used in such a wide variety of customer facing situations, we have included the facility to rename the ‘tenant’ element in the traditional structure to a name of your choice. You can now choose to replace the word ‘tenant’ with a term that better reflects your preferences, for example ‘customer’,

Enhancements to commitments
Commitments can now be recorded for non-Property Management related expenditure, enabling improved budgetary control. A new workflow step can also calculate whether actuals plus commitments exceeds the annual budget.

Even better fund consolidation reporting options
Fund consolidation reports now enable the inclusion of commitments, meaning you can now report on budget remaining after both actuals and commitments have been taken into account.

Greater flexibility at field level
Record a wider choice of information in Qube PM with extended fields.

Site survey enhancements
Collect signatures during Site Surveys, and enable users to have more password control within the App.

Archiving extended
Whilst archiving is a already widespread in core modules redundant records can now be safely stored away from your main systems through archiving FM Contract and Property records.

Get in touch to find out more about the improvements offered by the latest Qube PM release – contact us.

The post Qube PM: Award Winning Software – Now even better in 2017 | 8 February 2017 appeared first on MRI Software.

MRI Software Announces Acquisition of ResidentCheck

Resident screening service expands MRI’s comprehensive and flexible technology platform for multifamily real estate owners, operators and investors

Solon, OH – February 6, 2017 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of Dallas-based ResidentCheck, a provider of resident screening for the multifamily real estate industry. ResidentCheck’s extensive screening services enable property owners and operators to maximize financial performance and reduce resident delinquency rates.

“To stay competitive, today’s multifamily property operators require increased visibility into all stages of the resident lifecycle,” said Patrick Ghilani, Chief Executive Officer at MRI Software. “The acquisition of ResidentCheck expands MRI’s prospect and resident engagement capabilities while also formally establishing an MRI footprint in Texas. We’ve served numerous clients in the Dallas-Fort Worth area for many years, and we’re pleased to now establish an office in the region that will represent our full portfolio.”

ResidentCheck offers a unique combination of automated screening plus human diligence to provide a comprehensive background check service. In addition to credit and criminal background screenings, a dedicated team of employees conducts online and in-person research to verify the accuracy of information, giving property owners and operators significantly greater insight into the history of prospective residents. Screening services are available for conventional and affordable housing, and screening recommendations are tailored to specific client requirements for each property. Additionally, the integration of ResidentCheck’s screening services into MRI’s Multifamily Connect Suite will offer clients deeper insight into the relationship between an applicant’s initial screening results and future payment behavior.

“I’m very proud of what the ResidentCheck team has accomplished since we founded the company more than twenty years ago,” said Jorge Baldor, President and Co-Founder of ResidentCheck. “We are very excited to join MRI Software, a pioneer in the real estate technology industry. MRI’s deep client relationships and focus on innovation and scale will enable us to continue delivering new and improved services for our clients.”

“We want to thank our valued employees and our many loyal clients that have made ResidentCheck the success it is today. All of them will benefit from the new and innovative services that MRI Software offers,” said Kevin Hastings, Vice President and Co-Founder of ResidentCheck.

ResidentCheck will continue to serve its clients without interruption and remains committed to providing and supporting solutions for all organizations, regardless of their property management software. MRI Software will focus on alignment of shared services, sales and account management, and joint product development to integrate the ResidentCheck solution into MRI’s Multifamily Connect Suite. Similarly, MRI remains committed to providing choice and flexibility for its clients through an open and connected ecosystem. MRI’s Partner Connect program includes three screening partners, and the addition of ResidentCheck gives MRI clients even more freedom to choose the right screening solution for their needs.

This is MRI’s second acquisition in the multifamily sector within the last four months. In October 2016, MRI purchased CallMaX, a leader in automated, mobile front-office solutions, to streamline communications between residents and property managers. This transaction does not include ResidentCheck’s multifamily collections business, which will continue to service its existing clientele as a stand-alone entity. Shea & Company acted as the exclusive financial advisor to MRI Software and their private equity sponsor, GI Partners.

About ResidentCheck
ResidentCheck is a national provider of resident screening and pre-employment screening for the multifamily real estate industry. ResidentCheck gives multifamily clients visibility into the direct correlation between front-end screening and bad debt recovery to provide a total risk management solution.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit www.mrisoftware.com.

Press contact:

Emily Wells
404.250.4018
emily.wells@MRIsoftware.com

The post MRI Software Announces Acquisition of ResidentCheck appeared first on MRI Software.

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Research by Qube Global Software reveals that only a tiny proportion of the UK’s leading property and facilities management companies believe they are harnessing technology successfully.

As the technology landscape continues its rapid pace of change, the research suggests that a large proportion of property companies will be playing catch up, rather than taking up the mantle of technology trailblazer.

The survey of 960 real estate and FM professionals, conducted in autumn 2016, set out to discover where businesses see themselves on the journey to technological maturity, how they’re using the software already available to them and how they are preparing for future advancements in technology, including robots and AI (Artificial Intelligence).

Download the White Paper ‘Embracing Transformative Change: Insights into Technology and the Real Estate Sector’

While largely aware of the role technology can play in improving the way their businesses are run, the survey highlighted that only a small proportion believe they are currently harnessing it successfully. Only 5% of businesses see themselves as tech pacesetters, with a further 20% believing they are proficient in their use of technology. That leaves a remarkable 75% of the Real Estate/ FM industry believing themselves to be at the early stages of their technology journey.

Where the rapid advancement of technology is pulling some property businesses along with it, it appears to be leaving others behind, with several respondents commented on how their businesses still rely on Excel spreadsheets to manage their portfolios.

For those who are already using real estate and FM solutions on a daily basis to run their business, automation, reporting/forecasting and compliance were the top three benefits, while difficulty around integration was the main shortfall, followed by mobile access and functionality.

Customer service is a top priority for every group of real estate professionals surveyed. All acknowledged that the level of service demanded by tenants, leaseholders and property owners is rising across the board and most notably in the PRS (multi-family) sector. The vast majority of investors – almost 90% – are optimistic about the role technology can play in improving customer service, citing accurate record keeping, better information sharing and compliance as areas where technology is proving vital.

Looking ahead to new technology, the survey revealed that less than 10% of FM professionals are currently using robots, despite the availability of the technology, particularly for cleaning processes. Property professionals are, however, more prepared for advancements in AI, with 83% expecting it to impact real estate and FM industries within the next ten years.

John Cuppello, CEO of Qube Global Software, said:

“This research shows that the property industry believes itself to be slow to adapt to new technology. While it’s certainly true that a proportion is resisting transformative change, partly due to budgetary constraints and partly because of a lack of understanding about its potential, I believe more property professionals may be using advanced technology regularly in the workplace than they think.

“It seems to me that many of our customers are relatively advanced in the use of technology and have gained significant market edge through their innovative use of our solutions.

“Technology has transformed the role of property professionals across the industry over the last ten years, but this is just the beginning of the journey. A significant number of businesses in the sector have yet to fully embrace the technology currently available to them and are unprepared for further advancements just around the corner.”

The White Paper ‘Embracing Transformative Change: Insights into Technology and the Real Estate Sector’, exploring the research in full, is now available for download.