Singerman Real Estate, a real estate investment firm headquartered in Chicago, announced today that after a few years of using another portfolio asset management tool, they have elected to upgrade to Pereview’s “Life of the Asset” management solution. Singerman has deep experience executing complex transactions and unlocking value through property ownership, real estate loans, and operating companies. They handle investments across all major asset classes including office, retail, hotel, multifamily, and more. Charlie Kellogg, chief financial officer at Singerman, cited Pereview’s unique ability to manage acquisition to disposition, as well as its dynamic reporting capabilities – both of which allow business units across all of Singerman synchronized access to their detailed lease level data.
Real Estate Asset Management
Below are a series of articles about real estate asset management.
So, this week I started a new job with a company called Pereview Software. On our website we state we are the only commercial management real estate asset management software that covers the “Life of the Asset.” Meaning that regardless of the stage the asset is in with your organization, we have a way of helping. The different stages we identify are: Acquisition, Underwriting, Financing, Closing, Asset Management, Fund / Portfolio Management and Disposition.
During the Acquisition stage transaction information is entered and tracked from the beginning of a deal. Other departments can then leverage this valuable information during the acquisitions process and after the deal closed. Weekly Deal pipeline reports are automated, and information about the transaction is made readily available. Pereview supports all property types and both equity and debt transactions (loan origination and loan acquisitions).
Underwriting assumptions drive the investment process and the information used to make investment decisions are needed once the transaction is closed. So why do organizations leave this information in Excel or on a file server? The Pereview Integration layer connects your Excel model to the Pereview database allowing you to store centrally your underwriting assumptions. Once this information is centralized in Pereview, reporting on underwriting projections vs actual performance is a click of a mouse.
Most transactions are leveraged, and if you’re going to track the status of a transaction, you should also track the associated financing. Pereview supports acquisition financing, refinancing, fund-level debt and other financing instruments that are important to your organization. With this information you will know: how many deals you’ve done with a certain lender; your current portfolio’s debt position; how much debt is scheduled to be refinanced in the next year or two and what the associated terms and assets are.
At closing, all documents and tasks are tracked by investment. Pereview utilizes configurable workflows and closing checklists to automate key closing activities. All closing documents are linked through the Pereview Document Management functionality for the “Life of the Asset.”
The Asset management functionality is comprehensive and brings together property accounting information, statistical information, tenant/lease data, financing, budgets, valuations, key documents and everything else the Asset Manager needs to do their job. With all this information in a central location, reporting becomes a push of a button versus week(s) long process.
Fund / Portfolio Management
Given that detailed information is tracked at the asset level, portfolio and fund level roll-ups are fully automated. Pereview provides instant access to a gross market value, net equity positions, total portfolio LTV, debt service coverage ratio, geographic dispersion of assets, and much more. The fund and portfolio management functionality provide financing, modeling, business planning and investor reporting.
When it comes time to harvest the investment, Pereview provides the capabilities to track the disposition pipeline, easily transmit key documents to potential buyers to support their underwriting process and provide a smooth transition to closing.
I am excited about this new opportunity and if your organization would like to learn more about how Pereview has helped our clients gather more accurate information is a shorter time frame, please feel free to reach out to us.
Bo Hamrick, MBA – Business Development Executive for Pereview Software is responsible for helping Real Estate Owners visualize the life of the asset.
Pereview is proud to sponsor the 6th Annual IMN Real Estate CFO & COO Forum in San Diego, May 10-11 2018.