SANTA BARBARA, CALIF., Nov. 09, 2009 – Yardi Systems, a leading developer of real estate investment and property management software, announced today that commercial real estate investment and development firm Westmount Realty Capital, LLC has purchased Yardi Voyager™ and Yardi Investment Management™, resulting in centralized portfolio management and enhanced reporting capabilities.
“When we sought a new property management and accounting system, we needed an infrastructure that would help us expand our business. The centralized Voyager system was the best solution for handling all of the many different types of properties and leases in our portfolio,” said Heather Wyman, Westmount’s controller. “We perform bookkeeping for approximately 60 entities, including limited partners and general partners, and we can now manage all of them from one platform, eliminating the time and inconvenience of logging in and out of multiple systems.”
Yardi Investment Management gives Westmount a previously unattained level of oversight, from the portfolio level down to individual properties and transactions. “It gives a common chart of accounts and displays in real time our cash flow and all transactions and delinquencies. Previously we often waited up to six weeks to receive a transaction report. Now, we get it immediately. And we can quickly generate reports for every level of investment and for all types of properties — only office buildings, for example.”
She added, “The ability to log in to Voyager and Investment Management from any Internet-accessible location gives us even more value.”
Westmount also elected to take advantage of Yardi’s Application Service Provider hosting. Yardi hosts the application and database, provides technical support and networking resources, and assumes responsibility for system security, allowing Westmount to focus on its principal business.
“Similar to our other Voyager and Investment Management clients around the world, Westmount benefits from the automation, consolidation, portfolio-wide visibility, drill-down, and analytics and reporting made possible by centralizing all property management and accounting information,” said Terri Dowen, Yardi senior vice president of Sales.
About Westmount Realty Capital, LLC
Westmount Realty Capital, LLC is a dynamic, privately held Dallas-based company with activities in commercial real estate investment, development and lending. The company’s principals have completed more than $1 billion in transactions and have more than 50 years of combined experience in the real estate business. Driven by market forces coupled with intuition for future trends and unlocking unrealized value through superior execution, the group has built a diverse portfolio including industrial properties, retail centers, office buildings, multifamily communities and several historic buildings in downtown Dallas as well as land developments. For more information, visit www.westmountrc.com.
For more than 25 years, Yardi Systems has been solely committed to the design, development, and support of real estate investment management and property management software. Recognized as an industry leader, Yardi continues to develop and deliver software and services with the highest dedication to responsiveness, quality, innovation, and customer focus. 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