For many real estate investment management firms, performing any type of analytics (basic or advanced) is difficult – if not impossible.
Why? Because the data is usually siloed at the property level, with the operating partner, or in numerous Excel spreadsheets. Questions about data – historical, present, and future – can take days or weeks to answer. And that’s only after a handful of high-salaried resources waste their valuable time hunting for it.
Advanced Excel plugins, generic BI products, outsourced consultants, hiring certain skillsets that know how to query multiple databases with SQL – these Band-Aids won’t solve a firm’s core data management issues. Until all your data is in one place, you won’t be able to accurately analyze and act on your data. And not being able to analyze and act on your data means you won’t realize the ultimate NOI of the underlying assets.
Recently, I spoke with the head of asset management for a Pereview client in Atlanta. This client manages over $4 billion in AUM for a mixed portfolio. In recent months, they have been able to raise more than three times their original goal for a new opportunistic fund.
How’d they pull that off? The executive credits Pereview for compiling all their data in one place – boosting the accuracy, completeness, and integrity of their reporting.
“Pereview’s advanced data validations improved our confidence in the report results,” he told me. “We spent 100 fewer hours researching the discrepancies and errors we always had with our former real estate BI tool. With Pereview, we were able to provide accurate property performance numbers to potential institutional investors.”
“It was nice to not have to play Sherlock Holmes looking for clues in my data,” he added. “Pereview solved those mysteries for me.”
Of course, I wanted to know more about how Pereview helped them achieve this optimal state. The executive was eager to share that info, and he got pretty granular.
“There were three things that Pereview’s PowerBI ad-hoc reporting allowed us to do. One, drag-and-drop GMV to Debt at Par to LTV filtered by fund. Two, top tenants, to SIC codes, to geographical COVID hot zones filtered by property. Three, underwriting-to-actuals-to-valuations, with variances filtered by portfolio. We were able to do all of this within minutes of the ask. That increased everyone’s confidence in our ability to provide high returns.”
For decades, property management and GL systems have made things better for property managers and accountants – as have valuations tools for transactions and portfolio teams, and leasing systems for leasing teams. Now, Pereview’s best-in-class data model is making things better for asset managers.
In my best British accent, I say: “Advanced analytics with governed data in Pereview? It’s elementary, my dear Watson!”
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