MRI Software Announces Debt Management for Real Estate

MRI Debt Management provides a central repository for easy control of debt information and calculates loan details to minimize manual accounting requirements

SOLON, Ohio – October 15, 2018 – MRI Software LLC (“MRI”), a global leader in real estate software solutions, today announced MRI Debt Management, a web-based accounting solution for the real estate sector. Built on the company’s flagship Platform X accounting and property management solution, MRI Debt Management enables real estate owners and investors to increase operational efficiency and reduce the risks of bad data by moving their debt management accounting out of error-prone and cumbersome spreadsheets into a tool that is fully integrated with MRI General Ledger.

Real estate accounting teams have historically struggled with relying on spreadsheets to accurately account for their loans, leading to discrepancies and additional work to reconcile loan transactions. In addition, a lack of debt visibility can cause real estate organizations to incur debt penalties and miss re-finance opportunities.

Whether debt functions as a liability or an asset, MRI Debt Management aggregates all debt information including loans and their terms, abstract and contractual information and lenders. Additionally, the application’s calculation engine computes all future principal and interest payments over time through the maturity of any loan, giving users insight into all commitments over the entirety of the loan. These calculated payments can create journals to post directly into MRI’s accounting platform, reducing inefficient and error-prone spreadsheet calculations and manual creation of journal entries. The system also allows users to simplify the management of escrow payments.

“Small real estate organizations may be able to function managing their debt in spreadsheets, but as soon as you have more than a few contracts or more complex agreements, it becomes unmanageable and leads to business risk,” said Stan Price, Senior Vice President of Investment Solutions at MRI Software. “The addition of MRI Debt Management to our accounting offering enhances the reliable, real estate-dedicated software solutions already enjoyed by our clients. Featuring a central database of all debt contracts and a robust debt calculation engine that are fully integrated with MRI’s accounting platform, this solution offers a comprehensive, actionable view of any organizational debts – past, present and future.”

MRI Debt Management is available to current MRI clients immediately. The tried and trusted calculation engine is already in use today by clients around the world, including Oxford Properties, Derwent London, Charter Hall and Growthpoint Properties as part of MRI’s Fund Modeling and Asset Modeling products.

Supporting resources:

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.

Media Contact:
Chet Murray
LEWIS
mrisoftware@teamlewis.com

MRI Software Wins Silver Stevie® Award in 2018 International Business Awards®

Winners to Be Celebrated at Gala Event on 20 October in London, England

SOLON, Ohio – August 14, 2018 – MRI Software today announced that it was named the winner of a Silver Stevie® Award in the Large Computer Software Company of the Year category in the 15th Annual International Business Awards®.

The International Business Awards are the world’s premier business awards program. All individuals and organizations worldwide – public and private, for-profit and non-profit, large and small – are eligible to submit nominations. The 2018 IBAs received entries from 74 nations and territories.

Nicknamed the Stevies for the Greek word for “crowned,” the awards will be presented to winners at a gala awards banquet at the InterContinental London Park Lane Hotel in London, England on 20 October.

More than 3,900 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories. MRI’s award recognizes the company’s radical vision for and commitment to an open and connected proptech ecosystem, as well as its extraordinary growth and product innovation. MRI gives its clients the freedom to integrate with third-party applications from more than 130 providers in its Partner Connect ecosystem, including software that competes with its own offerings. Membership in the Partner Connect program grew by nearly 65% from 2016 to 2017. Further, MRI saw a 38 percent increase in organic bookings and 81 percent growth in new clients over 2016, not including revenue and clients from the eight acquisitions the company made in 2017.

Judges were particularly impressed with the company’s open approach to integrating with other software providers, including some whose applications compete with MRI. Comments included:

  • “Great real estate software, which enables real estate companies to integrate nearly any software with the MRI platform, so they can choose the perfect solution for their company.”
  • “When you are comfortable with giving your clients the freedom to integrate your software with third-party applications, you enable them.”
  • “Definitely [MRI Software] took a step ahead of others in this specific domain of business and stood prominent.”

“Winning the Silver Stevie for Company of the Year in computer software is a fantastic validation of the incredible work the MRI team has done over the past few years,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “While other real estate technology providers offer a limiting, one-size-fits-all, single-stack approach, MRI’s open and connected platform gives its clients the freedom to create a unified Single Experience™ that meets their unique business needs. MRI’s strategic international expansion combined with our open approach to real estate software has resonated strongly with the market, fueling our rapid growth. We are proud to accept this award from the Stevies.”

Stevie Award winners were determined by the average scores of more than 270 executives worldwide who participated on 12 juries.

“This year’s Stevie Award winners in the IBAs are the most distinguished group of winners we’ve had yet,” said Michael Gallagher, president and founder of the Stevie Awards. “We raised the minimum average score from the judges required to qualify as a Stevie winner, so 2018 winners should be especially proud of their achievements. We look forward to presenting their Stevies to them in London on October 20, and to telling their stories over the coming year through Stevie Awards media.”

Details about The International Business Awards and the lists of Stevie Award winners are available at www.StevieAwards.com/IBA.

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.

About the Stevie® Awards
Stevie Awards are conferred in seven programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 10,000 nominations each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at www.StevieAwards.com.

Media Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

MRI Software Announces Record Quarter Driven by Growth in All Worldwide Regions

Bookings for Q2 2018 Were 69 Percent Higher than the Same Period a Year Earlier; EMEA Experiences Largest YoY Percentage Growth

SOLON, Ohio – August 21, 2018 – MRI Software LLC (“MRI”), a global leader in real estate software solutions, today announced another successful quarter of worldwide growth. In the second quarter of 2018, global demand for MRI Software’s comprehensive and connected suite of real estate solutions continued to accelerate, boosting quarterly bookings to an all-time high that was 69 percent more than the same period in 2017.

All global regions experienced significant growth, though EMEA delivered the largest year-over-year percentage growth. The company added 166 new clients in Q2 2018, which is 60 percent more than it won a year earlier, and the number of employees grew by 65 percent.

MRI’s global growth strategy of providing open and connected software continues to gain momentum, marked particularly by key accomplishments in EMEA:

  • Grainger plc, the UK’s largest property landlord with a portfolio of more than 9,000 residential properties valued at £2.7 billion, has chosen MRI as its core software platform to power its digital transformation and growth in the emerging private rented sector (PRS).
  • Release of a new version of the MRI Residential Suite for the UK includes functionality that addresses the unique needs of the UK PRS market. MRI collaborated closely with UK PRS leaders to adapt the software.

MRI maintained its aggressive approach to growth with two acquisitions in early July: PropSys, a property software solution provider based in Johannesburg, South Africa, and CML Software, a Reading, UK-based provider of residential agency, block management and build-to-rent solutions. These moves mark MRI’s third acquisition in the UK, following its 2017 purchases of Qube Global Software and Real Asset Management, and its second in South Africa, following its December purchase of MDA Property Systems.

“I could not be more proud of the MRI team and our achievements in Q2,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “We’ve been on an aggressive growth path, but our people have remained focused. The global market is clearly embracing our open and connected approach to real estate software, and our results speak to both the quality of our solutions and the value we’re creating for our clients.

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.

MEDIA CONTACT:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-6413

MRI Software Expands UK Residential Proptech Offerings with Acquisition of CML Software

MRI Reinforces Commitment to the UK and the Evolving PRS Market

London – July 12, 2018 – MRI Software, a global leader in real estate software solutions, today announced the acquisition of CML Software, a Reading-based provider of residential agency, block management and build-to-rent solutions. This acquisition demonstrates MRI’s continued commitment to the United Kingdom residential market and expands its range of software solutions for sales, lettings and property management. The acquisition will add additional top tier agency market names into the MRI client base, strengthening the organisation’s position as the largest commercial real estate software provider in EMEA, serving more than 2,500 clients in the region.

“We are very pleased to welcome CML to the MRI Software family of companies,” said Dermot
Briody, Executive Managing Director for Europe at MRI. “CML’s software for residential
agencies and portfolio management rounds out MRI’s comprehensive offering for the diverse
UK residential market. Further, CML adds flagship clients to MRI’s extensive roster
and further enhances our team of experts on the ground in the United Kingdom. As we continue to invest in and enhance the solutions of all our recent acquisitions, including CML and Qube Global Software, our expanded footprint in the UK will enable us to even better serve and support our EMEA clients.” Briody adds. “The acquisition brings together two fast-growing organisations and delivers the opportunity to further increase market share for MRI, in a sector where many other existing players are being disrupted by market dynamics.”

CML Software’s solutions are specifically designed to address the needs of multi-office estate and lettings agencies, with robust analytics, multi-level reporting, and detailed permissions and role management. CML’s agency-branded web and mobile portals enable anytime, anywhere engagement with today’s digitally-oriented vendors, landlords and tenants. Adding these to the portfolio of solutions already on offer will create even more choice and flexibility for clients and allow for further development of the product suite through greater expertise and resources.

“MRI Software is the largest commercial real estate software company in EMEA, and, given how well our solutions fit within their suite, this acquisition will benefit CML’s clients by providing greater resources for support and access to a broad set of innovative proptech solutions,” said Al Chetwode, Managing Director at CML Software. “Meanwhile, MRI’s clients stand to benefit as well from the complementary solutions we are bringing to the MRI family. It’s a great combination, and we’re proud to join MRI.”

CML Software is MRI Software’s third acquisition in the UK, following its acquisitions of Qube and Real Asset Management in 2017. It is also MRI’s fifth acquisition in the EMEA region and its ninth acquisition overall since September 2017. CML, Qube and MRI clients will continue to be served without interruption while near-term integration activities focus on providing expanded offerings to all clients. Shea & Company acted as the exclusive financial advisor to MRI Software and their private equity sponsors, GI Partners and TA Associates.

Supporting Resources

About CML Software
CML Software provides enterprise software to multiple-office sales and letting agents, as well as large property management and block management companies. The company’s products cover a range of disciplines from CRM capabilities through to property management, renewals, client accounting, portfolio accounting and block management. With a reputation for reliability and technical excellence, CML’s software works flexibly through the complete property business cycle to add efficient control, automation and process simplification at the same time as delivering tangible business value. For more information please visit cmlsoftware.com

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 modelling 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.

Media Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

Global Real Estate Investment Firm Clarion Partners Selects MRI Software’s Investment Accounting Solution to Automate and Manage Fund Accounting

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.

MEDIA CONTACT:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-6413

MRI Software Acquires PropSys, Cementing Position as South Africa’s Leading Provider of Commercial Real Estate Software

MRI Reinforces Commitment to Growing African Market

London – July 4, 2018MRI Software, a global leader in real estate software solutions, today announced the acquisition of PropSys, a property software solution provider based in Johannesburg, South Africa. Founded in 2003, but with institutional and market experience in the region that goes back to 1977 thanks to an acquisition of its own, PropSys has established a strong foothold in the South African market with nearly 200 clients and a solutions portfolio that serves real estate companies of all sizes. This acquisition, in conjunction with MRI’s recent acquisition of Cape Town-based MDA Property Systems, makes MRI the clear market share leader for commercial real estate software in South Africa and the surrounding region and solidifies MRI’s position as one of the largest players in the African continent and the Middle East.

“Bringing the PropSys suite of products under the MRI umbrella strengthens our presence in the region not just by growing our pool of real estate talent in South Africa to more than 50 and giving us a commanding market share, but also by providing access to the deep relationships and market knowledge that PropSys has acquired over the past 15 years,” said Mark Fairweather, Managing Director, Africa, for MRI Software. “With the combined strength of MRI, MDA and PropSys, we’re in a terrific place to continue helping real estate companies in Africa and the larger EMEA region take their business where they want to go for years to come.”

MRI Software will continue to support PropSys property management and financial solutions, and clients will receive the same level of exceptional service. In addition, PropSys clients will benefit from MRI’s comprehensive software portfolio and commitment to product innovation. The breadth of MRI’s solutions set will offer PropSys clients new avenues to increase their efficiencies and facilitate the growth of their businesses. The MRI Investment Suite, for example, features MRI Valuations which allows clients to quickly and accurately value complex commercial assets, while the MRI Financials Suite includes MRI Fixed Assets accounting software, a comprehensive solution that maximizes tax benefits, improves compliance and increases asset ROI.

“The opportunity to join MRI at a time of such exciting growth in the real estate sector, both in South Africa and across the world, was simply too good to pass up,” said Marius Vermeulen, CEO of PropSys. “With MRI’s expansive software capabilities, global reach and commitment to South Africa and Africa as a whole, I have the utmost confidence that the combination of our companies will help our clients reach new heights.”

PropSys is MRI Software’s second acquisition in South Africa, following its acquisition of MDA Property Systems in December 2017. It is also MRI’s fourth acquisition in the EMEA region and its eighth acquisition overall since September 2017. This expansion mindset, in combination with MRI’s commitment to its comprehensive and open real estate software platform, has fueled significant revenue, bookings and new client growth.

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 modelling 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.

About PropSys
PropSys offers property management solutions for the real estate industry on hosted and on-premises platforms since 1977. Clients include managing agents, property owners, corporate entities and listed property funds. PropSys has excellent client relationships that dates back over four decades, with products for the real estate industry that create efficiency, leverage economies of scale and serve clients with innovative, user-friendly reporting and online functionality.

Media Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

MRI Software Announces New Residential Proptech Solution for the U.K.

MRI Residential Suite Delivers Powerful Features that Address the Unique Business Requirements of the U.K. Private Rented Sector

SOLON, Ohio – June 27, 2018 – MRI Software LLC (“MRI”), a global leader in real estate software solutions, today announced its industry-leading residential proptech solution is generally available in the U.K. to meet the unique needs of the emerging private rented sector (PRS) market. In bringing its Residential Suite to the U.K., MRI collaborated with U.K. PRS leaders to adapt the software to address the emerging needs of residential managers contending with significant investment and change.

According to a 2017 report from Knight Frank, nearly one in four households in England will be living in rented properties by 2021. As the demand for rentals continues to rise, large-scale investment in multi-housing and build-to-rent schemes has also risen, particularly in London. Tech-savvy renters expect a streamlined level of service that can be accessed from their smartphone, yet 88 percent of residential managers in the U.K. feel unprepared to meet the demands of the growing user base, according to a survey conducted by Qube Global Software, an MRI Software company.

MRI’s Residential Suite complements perfectly the company’s existing offerings for the U.K. residential sector, including those gained through its acquisition of Qube in October 2017. These solutions are widely used in a number of residential property management disciplines, including leasehold block management, sales and lettings, as well as a number of build-to-rent operations. The company’s residential offerings support more than 7.9 million units around the world and offer residential managers in the U.K. the expansive tools they require to address the needs of a new generation of renters. A leading solution in the U.S., MRI’s Residential Suite is trusted by 88 percent of the top 50 managers and 66 percent of the top 50 owners in the National Multifamily Housing Council’s (NMHC) annual ranking to manage their residential properties.

“The PRS market in the U.K. is rapidly expanding, and MRI is proud to provide real estate organisations with an open and flexible software solution to manage and scale their PRS business,” said Dermot Briody, MRI Software’s Executive Managing Director of Europe. “Our award-winning Qube PM and SLM offerings have served the U.K. market for a number of years, and we’re pleased to now complement these solutions with an expansive suite designed specifically to meet the needs of the nation’s evolving PRS sector. Our powerful global platform has the flexibility to meet the unique requirements of U.K. residential managers, and MRI’s substantial local presence provides on-the-ground support to our U.K. clients.”

MRI’s comprehensive and flexible Residential Suite encompasses marketing and leasing functionality, property management, and prospect and resident portals. Through the marketing portal, residential managers can better attract enquirers and showcase properties by integrating with local property portals. MRI’s Residential Suite also supports applications, security deposits and holding fee payments from potential new residents. Finally, once prospects become residents, they can use the resident portal to pay online, submit service requests, check their balance, and take advantage of concierge services.

New capabilities for the U.K. market in MRI’s Residential Suite include:

  • Flexible rent dates: U.K. property managers have the flexibility to adjust the monthly rent due dates for any tenant.
  • Proration: Real estate organisations have the ability to prorate on an annual or monthly basis.
  • Step-ups: This solution enables the rent on a multi-year tenancy to increase annually, making it easier to manage three-year lettings.
  • Break clause: Property managers can set the ability for a resident to break a lease without penalty after a certain amount of time in the unit.
  • Common banking: Fee managers can collect rents into a common bank and then disperse the funds into the proper accounts afterwards.

With the 2017 acquisitions of Qube and Real Asset Management (RAM), MRI is now the largest real estate software provider in the U.K. The company will continue to provide flexible software to support long-term growth and meet the evolving needs of the industry.

Supporting Resources:

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.

MEDIA CONTACT:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-6413

MRI Software Announces Record-breaking Q1 on Strength of its Comprehensive and Open Real Estate Tech Platform and Global Growth Strategy

MRI Software LLC Increases Q1 Worldwide Revenue by 44 Percent, Bookings by 136 Percent and New Clients by 50 Percent Over 2017

SOLON, Ohio – May 15, 2018 – MRI Software LLC (“MRI”), a global leader in real estate software solutions, today announced another successful quarter of worldwide growth. In the first quarter of 2018, MRI continued to build on growing market demand for a comprehensive and connected suite of solutions that extends across the commercial real estate lifecycle while offering the freedom to integrate easily with other vendors’ software. As a result, MRI increased not just its growth statistics, but also its leadership position as a truly open, partner-dedicated software provider.

In the first quarter of 2018, MRI saw 44 percent worldwide revenue growth fueled by 117 new clients (a 50 percent increase over the same period in 2017) and a 136 percent increase in bookings over the same period in 2017. Additionally, MRI grew its headcount by 62 percent across all regions. Overseas, staffing in EMEA increased more than tenfold and, in APAC, grew by 61 percent.

MRI’s global growth strategy continues to gain momentum, marked by a few key accomplishments:

  • Savills plc, one of the largest real estate companies in the world, chose MRI’s residential management and accounting solutions to manage its growing private rented sector (PRS) business in the U.K. Previously, Savills selected MRI for its commercial property business in key European locations. Additionally, in April, MRI Software announced that a second U.K. real estate giant, Grainger plc, has also chosen MRI as its core software platform to power its future PRS growth.
  • China Electronics Standardization Institute (CESI) certification demonstrates MRI’s commitment to China, a market that offers great opportunities. MRI Platform X is now a pre-approved financial reporting solution for real estate organizations doing business in the country. In addition to the benefit to Chinese companies, real estate investors using Platform X that want to expand into China can continue to rely on MRI’s platform while meeting local business requirements.

MRI’s Partner Connect program also continues to grow and strengthen. For example, MRI introduced a new Service Partner Certification Program, which is designed to validate and demonstrate proficiency in MRI’s technology and provide educational opportunities to improve implementation, consultation, and training of clients. Partners have responded positively to MRI’s investments in Partner Connect, with attendance at its annual Partner Summit in January increasing by 44 percent.

MRI also strengthened its executive team to help support growth:

  • John Ensign, previously MRI’s Chief Legal Officer, added President to his title as his duties now include oversight of MRI’s corporate shared services and overall responsibility for EMEA and APAC operations.
  • Russell Butler joined MRI in the new role of Chief Technology Officer to lead product development and strategy, which are responsibilities he previously held for various global teams at Oracle, IBM and AT&T. His expertise in shepherding new products from the innovation stage to deployment and integration will be a key driver of MRI’s ongoing expansion into new geographical and vertical markets.
  • Dermot Briody came to MRI as Executive Managing Director for Europe overseeing MRI’s operations in the region, including those of Qube Global Software and Real Asset Management, both of which MRI acquired in September 2017. As a result of these acquisitions, MRI is now the largest commercial real estate software provider in EMEA.

MRI maintained its aggressive approach to acquisitions adding HAPPY Software, a major player in the U.S. public housing authority (PHA) software arena, to a list of six other acquisitions since September. The move is MRI’s third acquisition in the PHA space in five months, alongside Tenmast Software and HAB, Inc., furthering the company’s vision of bringing a comprehensive, next-gen platform to the underserved PHA market and making it the largest provider in the space.

Ultimately, MRI’s growth is the result of its suite of purpose-built solutions and strong market demand for open and flexible software, a trend that has been growing across all industries. In March, MRI launched an ongoing content series to help real estate organizations identify software providers that are truly open as opposed to merely paying lip service to the demands of the marketplace.

“After an extremely active 2017, I couldn’t be more thrilled to see our growing team execute such a fantastic quarter,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “We pride ourselves on continuing to innovate and improve our clients’ experience, and this quarter’s success ultimately comes to back to our amazing clients and partners. Together, we are bringing our vision of an open and connected real estate ecosystem into reality and establishing a trajectory that has not been seen before in our industry.”

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.

Media Contact:
Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541.207.6413