MRI Investment Accounting improves real estate accounting accuracy, streamlines operations and enhances investor reporting
SOLON, Ohio – July 10, 2018 – MRI Software LLC (“MRI”), a global leader in real estate software solutions, today announced that Clarion Partners, a global real estate investment firm with $45.6 billion in assets under management, has selected MRI Investment Accounting as its fund accounting solution in concert with Clarion’s existing deployment of MRI’s property management and accounting platform.
Clarion Partners was evaluating solutions to enhance its portfolio accounting functionality, including identifying opportunities to improve efficiency, strengthen controls, and support complex investment structures. After a rigorous due diligence process, Clarion Partners chose MRI Investment Accounting as its portfolio accounting solution.
“MRI Investment Accounting will allow us to maintain records at each level from the underlying asset up to the client ledger within our accounting system, which will significantly streamline our internal operations,” said John Wanamaker, Chief Technology Officer of Clarion Partners. “Automating the rollup was a central requirement of our evaluation process and will give us full transparency through all levels of the ownership structures.”
The flexibility and openness of MRI’s Platform X also influenced Clarion’s decision. Specifically, MRI’s open and connected architecture ensured that Clarion could integrate additional future software into its MRI deployment.
“MRI’s approach to working with partners and facilitating integrations was a major factor in our decision,” Wanamaker said. “Our requirements will continue to evolve with our client’s needs, and MRI’s flexibility will allow us to extend our capabilities as needed and bring in best-of-breed solutions.”
Built on top of MRI’s flagship Platform X, MRI Investment Accounting automates the consolidation of property data and financials for even the most complex fund structures. The solution will enable Clarion Partners to track all investments, from clients through portfolios down to individual assets, helping to streamline the audit processes and enhance data integrity.
“For real estate organizations struggling to manage complex investment structures, MRI’s Investment Accounting automates the creation of financial statements, payment of contributions and distributions via waterfalls, and delivery of up-to-date reporting to internal and external stakeholders,” said Stan Price, Senior Vice President, Investment Solutions at MRI Software. “Our open and connected approach to software gives real estate firms a flexible portfolio accounting solution that scales as their business grows.”
About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.