Brookfield taps Yardi to streamline business
One of the world’s largest property managers has adopted Yardi across its European portfolio.
Brookfield Properties, which operates more than 325m sq ft of real estate across 675 properties worldwide, will replace several legacy systems with:
- Yardi Voyager for property management and accounting
- Yardi Investment Accounting to enhance performance measurement, reporting and investment accounting
- Yardi Fixed Assets to track depreciation of asset values
- Yardi Procure to Pay (including Yardi PayScan) to streamline procurement
The deal will introduce Yardi’s software to some of the UK’s most prestigious office buildings, including 100 Bishopsgate. Brookfield’s European portfolio comprises 27 properties in the UK and Germany, more than half of which are in Berlin.
Yardi said it was able to deliver additional transparency and oversight and help streamline service charge operations for Brookfield’s commercial, retail and industrial portfolio.
AJ Dawes, vice president of finance real estate at Brookfield, said: “We’ve been able to combine our property management and financial accounting processes by using one integrated platform, which has improved our efficiency and helped us scale the business further.
“Yardi’s technology has enabled us to quickly and concisely report on the performance of our assets and investments and enable better-informed business decisions.”
Neal Gemassmer, vice president of international at Yardi, said: “We are looking forward to working closely with the Brookfield team to facilitate operational efficiencies, increased reporting insights and differentiated services to tenants.”