Yardi Systems announced today that real estate development, investment and management firm The Krausz Companies, Inc., is using Yardi PortfolioVMF
SANTA BARBARA, CALIF., April 12, 2010 – Yardi Systems announced today that real estate development, investment and management firm The Krausz Companies, Inc., is using Yardi PortfolioVMF, a new product from the Yardi Commercial Suite™, to manage its valuation functions more efficiently.
Prompted by new mark to market and FAS 157 valuation requirements, The Krausz Companies recognized the need for an automated process that enables timely, accurate valuations and cash flow forecasts. By drawing real-time property and lease information stored in Yardi Voyager, Yardi PortfolioVMF will give The Krausz Companies accurate long-term projections that help mitigate risk. Yardi PortfolioVMF will also reduce labor-intensive data entry and eliminate reliance on error-prone spreadsheets.
“We can easily change leasing assumptions to obtain our projections and gain full understanding of how our properties are performing,” said Don Russell, The Krausz Companies’ chief financial officer. “Commercial real estate companies usually need software from a third party for long-term projections, but PortfolioVMF will let us generate them ourselves.”
He added, “The implementation went so smoothly that we were up and running valuation models within a few hours.”
“We are pleased that The Krausz Companies turned to Yardi to help them in this challenging economic environment. This is an example of how our clients can improve efficiency and meet complex compliance requirements by leveraging their Voyager platforms with new, high-value technology,” said Terri Dowen, Yardi senior vice president of Sales.
About The Krausz Companies, Inc.
The Krausz Companies, Inc., based in San Francisco, specializes in the acquisition, development and management of high quality, well-located retail, office, industrial and mixed-use properties throughout the United States. It has a track record that spans more than four decades and has developed or redeveloped more than $1 billion of commercial property. For more information, visit www.krauszcompanies.com.
Yardi Systems has been committed to the design, development, and support of real estate investment management and property management software for more than 28 years. With its Yardi Multifamily Suite™, Yardi Commercial Suite™, and Yardi Investment Suite™, the Yardi Voyager™ system is the most comprehensive single real estate management platform on the market today. Yardi serves clients around the world from offices in Asia, Australia, Europe and North America. More information about Yardi products and services is available at www.yardi.com.
Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255