The development arm of Tritax Big Box REIT will streamline
portfolio operations utilising Yardi's fully connected property and
asset management solution
NORTHAMPTON, England,
Jan. 23, 2020 /PRNewswire/
-- 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.
About Yardi
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.
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