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CLIENT SUCCESS STORY
Diamond Properties
Diamond Properties acquires, manages, and improves commercial real estate through strategic investments and hands-on property management.
Yardi is the key to our efficient growth and scalability.
Will Fowler
COO/CFO, Diamond Properties
I absolutely recommend Yardi. One of the benefits is that it’s fully integrated. As we add new features and products within the Yardi suite, we spend zero effort on integration. Staying within the Yardi ecosystem is more efficient and easy to maintain.
Will Fowler
COO/CFO, Diamond Properties
Products featured
The benefits
Diamond Properties manages its commercial real estate portfolio with Yardi’s single connected platform, helping its accounting team support continued portfolio growth efficiently.
The company
Diamond Properties (Diamond) is a privately held owner and operator of commercial real estate along the East Coast. The portfolio spans roughly 17 million square feet across approximately 100 properties, with industrial making up 70% of the mix and retail and office comprising the remainder. The company adds 300,000 to one million square feet of industrial acquisitions each year.
The challenge
Scaling efficiently through rapid growth
Diamond has grown significantly through industrial acquisitions, which has challenged the company to maintain operational efficiency as its portfolio expands. Before Forecast Manager, budgeting across 100 properties meant working inconsistently through Excel, with some teams building detailed spreadsheets and others only focusing on the major drivers. Consolidating and standardizing those inputs was a heavy lift, and tracking investor distributions against PDF pro formas was time-consuming and difficult to audit at scale.
The solution
Yardi Commercial Suite
With Yardi Voyager as the foundation, Diamond runs its entire operation on a single connected platform. Chief Operating Officer and Chief Financial Officer Will Fowler oversees accounting, financial planning and analysis as well as property management and technology across a distributed team with members in the U.S. and overseas.
Yardi Commercial Suite brings together property management and accounting in Voyager, budgeting and forecasting in Forecast Manager and tenant billing and engagement in CommercialCafe — giving Fowler’s team one system of record from the ledger to the lease to the investor report. For a company adding up to a million square feet a year with a widespread team and focus on minimizing integration overhead, the connected Yardi stack is what makes the growth model work.
The story
Standardizing the budget across 100 properties
Forecast Manager replaced Diamond’s spreadsheet-based budgets with a standardized and automated process for entering and capturing budgets across every property. With a consistent input structure in place, Fowler’s team can consolidate quickly, run temperature checks at the portfolio level throughout the year and see actuals, budgets and reforecasts side by side. That visibility has made reviews at every level faster and cleaner.
Investor distributions, projected with precision
One of the sharpest before-and-after contrasts for the company is in investor reporting. Diamond’s investor models historically lived in PDFs, making it difficult to compare actual distributions against pro formas without a time-consuming back-and-forth. Forecast Manager now lets the team project distributions at the property level and trace what flows back to the parent company and to key investors who may want to roll proceeds into future deals. For a growing portfolio with many repeat investors, that level of detail matters.
Capital planning across the portfolio
Shifting a major capital project from one year to the next used to require manual recalculation at the building level and across the broader portfolio. With Forecast Manager connected to Voyager, Diamond can model those changes in real time and see the ripple effects immediately at the property level and across the broader portfolio.
Custom financials built for the whole team
Accountants, Fowler notes, love rows and columns but property managers often want something simpler. Voyager’s custom financials let Diamond build a unified P&L view for each property that strips out items like depreciation and amortization and adds capital spending, which gives property managers and leasing teams a single, decision-ready view of a building’s financial condition without requiring them to navigate a full accounting report.
Tenant billing through CommercialCafe
Diamond rolled out CommercialCafe for billing first before expanding to include additional features. Within the first six months, 50% of tenants were using the portal. That number has since climbed up to 80%. Tenants can see outstanding bills and resolve them quickly, while keeping the Diamond Properties receivables team centralized and efficient. One detail Fowler didn’t anticipate: a meaningful number of tenants pay rent by credit card through CommercialCafe. “I was probably most surprised with the number of tenants who like the flexibility to pay with a credit card,” he said. The roadmap for CommercialCafe at Diamond includes lease detail visibility and contact management, tasks that currently come in through email and phone calls.
Zero integration overhead
For commercial real estate CFOs evaluating multi-vendor technology stacks, Fowler’s framing is direct: adding Forecast Manager and CommercialCafe to an existing Voyager foundation requires no custom integration work. The middleware requirements and ongoing maintenance that come with connecting separate platforms aren’t a factor. “We have spent zero effort on integration,” he said. “Staying within the Yardi ecosystem as we’ve added more products is more efficient and easy to maintain.”
The results
Over the last four years, Diamond has grown approximately 20% without a proportionate growth in accounting headcount. With connected data and automated workflows, budgeting is standardized across 100 properties, investor distribution reporting is more accurate and property managers have the exact financial views they need. Of further benefit, tenants make payments through CommercialCafe, and adoption continues to climb. As Diamond continues to expand, the Yardi platform is in place to grow with them.