The Pacific Companies
In 2012, with 84 properties, 4,403 units, Denise and her two-person team, were drowning in portfolio data from disparate sources. She needed a portfolio management solution that would streamline data input and analysis to get clarity and control over the portfolio. This level of clarity would allow Denise and her team to manage the lifecycle of their existing properties, so that Caleb and his team could focus on new deals.
At that time, Denise and her team received the monthly trial balance three weeks after the end of the month. It then took another one to two weeks to manually input and compile the data in spreadsheets with the other trial balances in her portfolio and compare them side by side. The data would already be two-months old before the asset managers could even begin to analyze it.
When you’re thriving and expanding, it can suddenly feel like the systems that once served you so well don’t seem to cut it anymore. For Cardinal Capital, that experience happened in 2012 when the firm was managing 4,500 units across four states. Cardinal was on track to double the portfolio size over the next four to five years. Joe Thomae, Director of Information Technology and Property Insurance & Construction Bonding at Cardinal Capital Management, Inc. (Cardinal Capital) knew it was time to make a significant change.
Wentwood Capital Advisors
Founded in 1997, Wentwood Capital Advisors, L.P., provides direct-investment, funds management, asset management, recapitalization and work-out services to corporate investors on their Low Income Housing Tax Credit (LIHTC) equity investments nationwide. In 2011, Wentwood fund manages $900 million in tax credit equity investments for one of the largest private companies in North America. This portfolio includes 30 syndicated partnerships consisting of over 535 properties in 47 states.
Due to the foregoing assets under management, and an expanding portfolio and team of asset managers, Wentwood sought, and investors required, asset management software to maintain and analyze data, and proactively manage the accounts to effectively report to investors.