The development arm of Tritax Big Box REIT will streamline portfolio operations utilising Yardi’s fully connected property and asset management solution
Northampton, UK (23, Jan 20) – Tritax Symmetry, the development arm of Tritax Big Box REIT, has selected products from the Yardi® Commercial Suite, a cloud-based real estate technology platform, to streamline its property development, accounting and asset management operations.
Tritax Symmetry is replacing several legacy systems with a single connected software solution for the development and ongoing management of its significant pipeline of logistics assets.
In addition to Yardi Voyager® Commercial for property, leasing and tenant management, Tritax Symmetry will implement Yardi® Investment Accounting for streamlined investment accounting and asset reporting. Tritax Symmetry will also use products from the Yardi® Procure to Pay Suite to simplify supplier management, provide complete spend visibility and enable paperless invoicing, and Yardi® Job Cost to manage costs for capital projects, track budgets and improve forecasts.
“Moving to the Yardi platform is a strategic move for us given the size of our logistics portfolio and the complexity of financial control around development activity. We were seeking a single system that provides efficiency, transparency of asset performance and the ability to report on projects and forecast through the full property lifecycle. Yardi was an obvious choice,” said Will Oliver, finance director for Tritax Symmetry.
“We’re very excited that Tritax Symmetry has chosen to manage its portfolio on Yardi. The scalable nature of our solution accommodates the portfolio growth that Tritax Symmetry anticipates, as well as transparency and accuracy in asset performance reports,” said Neal Gemassmer, vice president of international for Yardi.
Learn more about how Yardi is supporting real estate and investment clients in the UK and across Europe.
About Tritax Symmetry
Tritax Big Box REIT purchased an 87% stake in db symmetry in February 2019. Now rebranded Tritax Symmetry it has a land portfolio comprising 2,900 acres, capable of accommodating 41 million square feet of B8 logistics space. For more information, visit tritaxsymmetry.com and tritaxbigbox.co.uk.
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide from offices in Australia, Asia, the Middle East, Europe and North America. For more information, visit yardi.co.uk.