Unico Properties LLC, a subsidiary of Unico Investment Group LLC, is a private equity real estate investment firm offering people-focused, results-driven investment, development, management and sustainability services in emerging markets across the United States. Founded in 1953, Unico employs more than 250 real estate-obsessed people actively managing a more than $3 billion portfolio representing 18 million square feet of commercial real estate.
The ChallengeInaccessible Data
Unico previously used numerous interfaces for transferring investment and accounting data. Maintaining data integrity across multiple databases was a challenge that “could be frustrating when we needed reliable information immediately for decision-making,” said Whitney Wolfe, senior manager of accounting operations for Unico.
The SolutionYardi Investment Management
Yardi Investment Management automates the asset, investment accounting and investment lifecycle with a single connected solution that delivers faster reporting, drives investment strategies and enables full transparency from investor to lease when combined with Yardi Voyager. Automation increases productivity and reduces the risk of errors by eliminating spreadsheets and other manual, time-intensive functions.
The StoryFewer Errors, Better Investor Service
Yardi Investment Management enables Unico to easily track ownership percentages and other information in fund or joint venture subscription agreements. It also calculates distributions and contribution percentages with a click of a button. “As an integrated solution that doesn’t require intermediary hubs, Yardi Investment Management is much faster, accurate and easier than error-prone spreadsheets,” said Wolfe. The company can set up acquisitions, fund and ownership transfers with minimal repetitive data entry, meet its compliance obligations and give investors the foundation for informed decision-making.
Yardi Investment Management also separates Unico’s investor reporting information from its general accounting information, which saves valuable staff hours by accommodating different transaction types on the same general ledger account. Automated consolidations lets the company drill into property data more quickly and thoroughly, shortening the close cycle and enabling faster reporting turnarounds.
“We can focus our resources on value-add activities now that manual processes and data interfaces are eliminated. We can react more quickly to requests with full confidence in the output, which helps us maintain trust with our investors,” said Wolfe. “Yardi Investment Management enhances not only efficiency but the speed with which information is distributed.”