Commercial Real Estate
PROJECT OBJECTIVE
Implement a robust end-to-end commercial real estate reporting solution that standardises asset and property data, enables timely stakeholder reporting, and provide management clear visibility over German asset portfolio performance.
Client Challenges
&
Pain Points
- Acquisition of over $6 billion in German property; buildout of asset and property management platform from scratch.
- Retention of local property managers using new global property reporting system without adaptation to local markets or users.
- High rates of leverage, vacancy and distress in portfolios. Impending global financial crisis.
- Fragmented data and reporting, including inability to report to lenders and investors or to understand day-to-day operations.
Approach
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How We Helped
- Developed detailed data dictionary, including sources of data, frequency, and data verification standards.
- Adapted third-party property management system to meet data definition, collection, and reporting needs of client.
- Instituted strictly defined processes and controls around data collection and verification including training of staff and third-party property managers.
- Created standardised reporting formats and processes, including timelines and quality checks.
Value
Provided
- Converted entirely manual, remediation-based process to automated process, creating auditable quality and reducing reporting timelines and employee resources
- Enabled all lender, investor, tax, and regulatory reporting to be delivered accurately and on time.
- Provided client with data to have visibility over property performance, including leasing, rental collection, and expense management.
