Durst Organization Selects MRI Software as Exclusive Provider of Property Management Software

Cleveland, OH — September 15, 2011 — New York-based real estate developer The Durst Organization has selected MRI Software LLC as the new, exclusive provider of lease management and accounting software for its extensive property holdings in and around New York City. MRI is a market leader in property management and accounting software for both the commercial and multifamily markets.

Barry Fagan, Vice President, Information Systems at Durst, explained that several factors led to Durst’s selection of Cleveland-based MRI Software. First, he cited the software itself: “The power and flexibility of MRI’s accounting features made it the best fit for our existing business processes,” Fagan said, “and we were impressed with the configuration options that were available.” Equally important, though, was the experience of doing business with MRI: “As we had questions, our MRI Account Executive brought in the right people to answer them. He made sure we had the information we needed to make an informed choice. MRI’s diligence and attention to detail told me that it would be the right long-term business partner for Durst,” said Fagan. Durst will use MRI’s Global Professional Services division to implement the software and conduct extensive training.

A real estate presence in New York for more than a century, Durst owns, develops and manages an extensive portfolio, including a variety of skyscrapers and residential properties in and around midtown Manhattan. In 2010, it purchased an interest in One World Trade Center (previously known as the Freedom Tower), the cornerstone of the rebuilt World Trade Center. This 3.1 million-square-foot building was designed by David M. Childs of architects Skidmore, Owings & Merrill, and will include office space, restaurants and an observation deck among other amenities. David Post, Chief Executive Officer at MRI, commented, “We’re honored that Durst has selected us to provide the software they need to manage and develop their complex and historic portfolio, and we’re looking forward to providing the software, services and support Durst needs to continue to grow and develop.”