The global leader in real estate software solutions, MRI Software announced that Growthpoint Properties which is South Africa's largest real estate investment trust, or REIT, with reach to Australia and Europe, selecting MRI's SaaS-based Commercial, Financial, and Investment Suites to streamline domestic and international portfolio management.
"We spent a year reviewing our investment and valuations practices and evaluating how we could best improve our operations and strategic initiatives," Alec Davis, Chief Information Officer of Growthpoint Properties, said. "The flexibility and security of the MRI platform enables us to reduce complexity in our operations and focus more on our core real estate business. The combination of industry-specific functionality, automation, and SaaS deployment options made MRI the clear winner."
With over 500 properties and more than 70 millions square feet of gross leasable area in its of commercial, retail, and industrial properties across three continents, Growthpoint leads a large scope asset portfolio. Its search of comprehensive solutions with multicurrency capabilities that could capture all aspects of its complicated business while standardized data practices span across regions.
To improve the efficiency and conduct the processes, Growthpoint selected MRI's Commercial Management solution. MRI offers web-based access to lease administration, retail management, and reporting and analytics tools. Growthpoint will benefit from MRI's Budgeting and Forecasting, Investment Modeling, Investment Account, and Global Valuations solutions. It will streamline workflows and improve planning. Growthpoint's operational complexities will reduce, flexibility for users will increase, and standardization and integrity will be promoted with this new system.
"Growthpoint is a hugely influential player in the South African real estate market, and we're thrilled to have them as part of our expanding client base in the region," Stephen Baker, Vice President of Global and Strategic Markets at MRI Software said. "Growthpoint is at the forefront of adopting automation, and we have no doubt that our Commercial, Financial, and Investment solutions will help Growthpoint better understand its business and make it an even more profitable endeavor for its investors."