Real Estate Investment Managers Use Resolve Technology’s Solutions to Address Risk Management Challenges with Fewer Resources
Record number of companies participate in Resolve's annual Client Summit
Needham, MA (PRWEB) November 6, 2009 -- Gathering in Boston for the 2009 Resolve Client Summit, representatives of leading real estate investment management firms discussed how they are able to address the increasing urgency of risk management requirements and the escalating demand for information, despite the fact that most organizations operate with fewer resources than in the past. “Resolve enables our people to get away from data entry and do what they were hired to do, which is analyzing information and making good investment decisions,” said James Strezewski, Senior Vice President at the LaSalle Investment Management Excelsior Fund.
Clients attending the summit also were among the first to learn of Resolve’s acquisition by CoStar Group, Inc. CoStar’s President and CEO Andrew Florance affirmed the strategic value he sees in Resolve’s products and provided an overview of plans to integrate Resolve’s products with CoStar’s industry-leading data as well as market analysis and forecasting from another CoStar-owned company, Property and Portfolio Research, Inc.
The 2009 Resolve Client Summit drew representatives of the commercial real estate industry’s leaders to discuss the challenges facing the real estate investment management sector and share strategies and tactics used by organizations to address these challenges.
Common trends pointed out by Summit participants included:
| | - Analysts and decision-makers are challenged to quickly understand the implications of changing market conditions. Many of them had to quickly refocus their attention from analyzing acquisitions to preparing complex debt and cash-flow analysis.
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“Debt is a too critical part of the business to be managed separately from the entire portfolio, especially during this point in the business cycle,” declared Jay Silvia, Vice President of Portfolio Reporting at New Boston Fund. “We are using Resolve’s Portfolio Maximizer to replace more than 40 waterfall spreadsheets and a custom debt database with one centralized system, providing greater speed and consistency to our debt and portfolio management practices.”
| | - Most companies operate today with fewer resources so automating information gathering, analysis and reporting is key to keeping up with the growing demand for timely and reliable information.
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“We get frequent questions about our exposure to certain tenants,” said one of the users of Resolve Technology’s Request service speaking at the Summit. “Prior to Request, it would have taken us several days to gather this information from different Excel spreadsheets, our property management system, and our forecasting application. With Request, we can now get all the information we need within a few minutes.”
| | - Investors and lenders are demanding greater transparency to the management of their funds, and there is a heightened emphasis on the accuracy and integrity of information. “Everything is scrutinized with a magnifying glass,” said one of the participants.
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One Request customer described how they are using the system to provide their Limited Partners with direct visibility over the web to real-time information about their investments. “As capital becomes scarcer, we believe that investment managers that are able to provide investors with real time updates of their investments will have easier access to new capital,” explained Resolve CEO Eric Forman.
Forman also said Resolve’s customers are excited at the potential to expand Resolve’s business intelligence and analytics platform under CoStar. “CoStar and Resolve share the same vision on the strategic direction of our company. Joining forces with the industry's strongest research and data provider is strengthening our ability to invest in our business and accelerate our growth,” said Forman. “We’re looking forward to combining Resolve’s business intelligence tools with CoStar's extensive data on commercial properties, tenants and sales transactions. We believe that these will provide our clients with greater insight for analyzing how current and forecasted market conditions affect their portfolios, resulting in more timely, information-driven investment decisions."
Also during the Summit, Forman reaffirmed Resolve’s commitment to its partnership with ARGUS Software and advancing the companies’ productive relationship. “We greatly value our agreement with ARGUS to more closely integrate and align our offerings and we look forward to building upon our successful partnership.”
Thanks to the growth in Resolve’s customer base over the past year, Summit attendance was marked by a record number of participating companies, despite travel budget cuts at many client organizations. “We had to choose just one event we could attend this year,” said Michael Pearce, Vice President of Information Technology at Bentall Capital. “We chose the Resolve Client Summit because of the great value we get at these events and the strategic importance of Resolve’s solutions to our company.”
About Resolve Technology
Resolve, a CoStar Group, Inc.-owned company, helps institutional real estate investors and investment managers make timely and informed decisions that maximize returns and minimize risk. Resolve’s solutions help ensure the timeliness, integrity, and visibility of investment information, enabling historical and forward-looking analysis to be performed with insight, confidence and speed that we believe cannot be achieved with the traditional manual, spreadsheet-intensive processes. Resolve’s products are used by some of the world's leading advisory and investment management firms, REIT’s, life insurance, pension fund, and banking institutions, that manage over two billion square feet of real estate worth more than half a trillion dollars. Customers include Behringer Harvard, Glenborough, LaSalle Investment Management, Prudential Real Estate Investors, Principal Global Investors, and UBS. Founded in 1990, Resolve is a wholly owned subsidiary of CoStar Group, Inc., and is headquartered in Needham, Massachusetts.
For more information, visit www.resolvetech.com.
About CoStar Group, Inc.
CoStar Group, Inc. (Nasdaq:CSGP) is the number one provider of information, marketing and analytic services to commercial real estate professionals in the United States as well as the United Kingdom. CoStar's suite of services offers customers access via the Internet to the most comprehensive database of commercial real estate information throughout the U.S. as well as in the United Kingdom and France. Headquartered in Bethesda, MD, CoStar has approximately 1,400 people working for the Company worldwide, including the largest professional research organization in the industry.
For more information, visit http://www.costar.com.
All companies and products listed herein are trademarks or registered trademarks of their respective holders.
This news release includes "forward-looking statements" including, without limitation, statements regarding Resolve’s expectations, beliefs, intentions or strategies regarding the future. These statements are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. More information about potential factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including CoStar's Form 10-K for the year ended December 31, 2008, and Form 10-Q for the quarter ended June 30, 2009, under the heading "Risk Factors." In addition to these statements, there can be no assurance that CoStar Group will integrate Resolve’s products with CoStar’s industry-leading data, as well as market analysis and forecasting from Property and Portfolio Research as planned; that as capital becomes scarcer, investment managers that are able to provide investors with real time updates of their investments will have easier access to new capital; that joining forces with CoStar will strengthen Resolve’s ability to invest in its business and accelerate its growth; that CoStar’s commercial property data will be successfully combined with Resolve’s business intelligence tools; and that combining Resolve’s business intelligence tools with CoStar's commercial property information will provide clients with greater insight for analyzing how current and forecasted market conditions affect their portfolios, resulting in more timely, information-driven investment decisions. All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements.
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