SANTA BARBARA, CA, Dec. 17, 2008 – Yardi Systems, a leader in developing real estate software for investment, asset and property management, announced today that Hong Kong-based The Link Management, manager of The Link Real Estate Investment Trust, has selected and implemented Yardi Voyager™ Commercial as its integrated property management solution.
Yardi Voyager Commercial will enable The Link to efficiently manage over 10,000 leases in some 150 retail facilities, the largest retail portfolio in Hong Kong. With Yardi, The Link is able to centralize the operations of its entire property portfolio in a single data system and integrate the management of its improvement projects and fixed assets.
The Link also elected to take advantage of Yardi’s Application Service Provider hosting service. Yardi will host the application and database, provide all technical support and networking resources and assume responsibility for system security, allowing The Link to focus solely on its core business.
“In addition to facilitating us to provide better service to tenants, the newly implemented solution has contributed greatly to our business management by streamlining workflow, enhancing data information exchange and enabling more dynamic information sharing across our teams,” said Ross O’Toole, Chief Operating Officer, The Link Management.
With the implementation of Yardi Voyager, The Link’s tenants now enjoy much broader payment options, which include 7-Eleven convenience store cashier counters, ATM, PPS and online banking, in addition to designated cashier points previously available. Demand notes and receipts are also available in multiple languages and in a more informative format.
In a collaborative effort between The Link, Yardi’s Professional Services Group, and leading management consultancy RealFoundations, The Link’s entire portfolio was rolled out in less than four months.
“The partnership between The Link, Yardi, and RealFoundations served to facilitate the best possible scenario in terms of rolling out a complete business solution for the large retail manager in a short amount of time,” said David Stanford, Executive Director of RealFoundations. “The implementation was highly successful and will allow The Link to leverage the full capability of the system.”
O’Toole added, “We selected Yardi Voyager because it met the most business requirements of any software, and also because Yardi was flexible enough to create custom functions for some unique business processes. The capability to deliver these particular solutions and implement them quickly was an overwhelmingly positive factor in our success.”
“We are pleased that Yardi will play a key role in helping The Link maximize the value of its properties,” added Terri Dowen, Senior Vice President of Sales for Yardi. “We feel that the success of the implementation process is a key indicator that we will maintain a long and beneficial partnership for years to come.”
About The Link Management
The Link Real Estate Investment Trust (Hong Kong stock code: 823) is the first REIT listed in Hong Kong. Managed by The Link Management Limited, The Link REIT invests in 180 retail and carpark facilities. With approximately 11 million square feet of retail space and around 80,000 carpark spaces, The Link REIT’s retail portfolio is the largest held by a single owner in Hong Kong. These properties are on the doorstep of nearly 40% of Hong Kong’s population. More information about The Link Management Ltd is available at www.thelinkreit.com.
Founded in 2000, RealFoundations is a full-service management consultancy focused on helping companies in the real estate industry improve their operations and achieve their potential. From developers, owner/operators and general contractors to service providers and institutional investors, RealFoundations offers innovative business intelligence, process analysis, improvement and solution implementation, strategic information, systems planning and integration. More information about RealFoundations is available at www.realfoundations.net.
Yardi Systems is committed to the design, development, and support of real estate software for investment, asset, and property management, serving 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 20,000 businesses, corporations, and government agencies, representing more than 7 billion square feet of commercial space and 8 million residential units globally. Yardi Systems has offices throughout Asia, Australia, Europe and North America. 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