Fengate Property Management of Canada Upgrades to Yardi Voyager™ Software to Manage $2 Billion Mixed Portfolio


SANTA BARBARA, CALIF., March 26, 2008 — Yardi Systems, the global leader in asset and property management software, is pleased to announce that Fengate Property Management, one of Canada’s leading commercial and multifamily property management organizations, has initiated an upgrade to Yardi Voyager to support its $2 billion mixed portfolio throughout Southern Ontario and select markets in the U.S.

For over thirty years, Fengate Property Management has been an integral part of the Canadian property management business and has recognized the unique needs of each property and tenant. In response, Fengate management has continued to leverage the best available software solutions to maximize efficiencies and support operations across the board. Beginning with the implementation of Yardi Advantage™ in 1996, followed by Yardi Enterprise™ in 2002, and finally Yardi Voyager in 2008, Fengate executives clearly understand the value advanced technology brings to their organization, and look forward to supporting continued growth with their new browser-based system.

“As our portfolio continued to grow, and we moved into more asset and investment management services,” said President Lou Serafini Jr., “we realized we needed a powerful, configurable tool to provide our clients with the best possible service and stay competitive in the marketplace. Yardi’s Voyager ERP real estate solution will support both of these initiatives well while solving ongoing CAM and MPAC reporting issues and simplifying workflow throughout the organization.” He added, “By implementing Voyager, we ensure our competitive advantage, as well as superior client service through transparent, fully-integrated reporting.”

With an aggressive implementation plan in the works by C.J.C. Consulting Services, Fengate staff look forward to converting data to Yardi’s ASP hosting service and learning about Voyager’s advanced solutions for commercial and multifamily property management.

About Fengate Property Management
Fengate Property Management began as a commercial and residential property manager in Southern Ontario in 1974. Fengate continues to grow under the direction of President Lou Serafini Jr., with over 100 employees offering professional expertise and dedication to customer service. Fengate proudly works with property owners to develop cost-effective and comprehensive plans to manage each property effectively and professionally. Currently, Fengate manages over 2 billion dollars’ worth of real estate and 7 million square feet of commercial and residential properties throughout Southern Ontario and select markets in the U.S. The company’s growth includes the Fengate Capital Management division, which provides asset management services in the real estate and infrastructure sectors, handling over $400 million of equity investments and offering clients up-front planning, investment risk assessment and ongoing monitoring services for their project investments.

Fengate is proud to be selected one of Canada’s 50 Best Managed Companies. Every year, hundreds of entrepreneurial companies compete for this designation in a rigorous and independent process that evaluates the caliber of their management abilities and practices. This prestigious national award is sponsored by Deloitte, CIBC Commercial Banking, National Post and Queen’s School of Business. Fengate offices are located in Toronto, Burlington and Hamilton. For more information, visit www.fengate.com.

About Yardi
Yardi Systems is the global leader in the design, development, and support of integrated Asset and Property Management software for organizations of all sizes. For more than 25 years, Yardi’s technology and services have led the industry through responsiveness and innovation, becoming the premier application for real estate software solutions worldwide. Yardi’s software is client-driven and serves more than 15,000 businesses, corporations, and government agencies, representing more than 5 billion square feet of commercial space and 5 million residential units globally.

Headquartered in Santa Barbara, California, Yardi Systems has offices throughout the United States, Canada, Europe, Asia, and Australia. More information about Yardi products and services may be found by visiting www.yardi.com.

Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255