- An interview with Jeff Wilson, Founder & CEO of Pereview …
Historically, companies have added staff as AUM has increased. While other industries have leveraged technology to automate routine tasks, the real estate industry has lagged behind and used Excel – at the cost of greater complexity and data fragmentation.
Fortunately, there is a better way to manage the business. Here’s how Pereview streamlines the process across the “Life of the Asset”:
Transaction information is entered and tracked from the beginning of a deal. This valuable information can then be leveraged by other departments during the acquisitions process and after the deal is 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 originations 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 and/or on a file server? The Pereview Integration Layer connects your Excel model to the Pereview database allowing you to centrally store 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. With Pereview you’ll have this information at your fingertips and much more.
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 vs. week(s) long process.
Given that detailed information is tracked at the asset level, portfolio and fund level roll-ups are fully automated. Pereview provides instant access to 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 provides financing, modeling, business planning, and investor reporting.
When it comes time to harvest the investment, Pereview provides the capability to track the dispositions pipeline, easily transmit key documents to potential buyers to support their underwriting process, and provide a smooth transition to closing.