MRI Software Updates Powerful Corporate Real Estate Management Solution

SOLON, Ohio -MRI Software, a global leader in property and investment management solutions, is pleased to announce the availability of the latest version of Corporate Real Estate Management (CRE). MRI’s CRE software helps retailers, health systems, data centers, and other office and industrial lease holders stay on top of lease expenses, terms, and other critical information. CRE is designed with the corporate tenant in mind. MRI’s CRE solution helps Lease Administrators and Lease Accountants take control of their real estate expenses. Dashboard views display key performance indicators while automated alerts and other system generated notifications ensure that all crucial lease details are accounted for. Furthermore, transaction and accounting flexibility allow the system to easily support diverse business requirements. MRI CRE empowers corporate lease administrators to minimize expenses and maximize lease performance.

The new version of MRI CRE leverages MRI’s most innovative platform to date: Version X. This new platform features flat menu structures, browser and device freedom, and data mobility. For example, lease administrators can now view critical performance data on their tablet or mobile device. For lease accountants, the intuitive modern interface makes finding lease information and accounting details quicker than ever before. MRI CRE in Version X maintains the robust functionality that clients require while creating a more efficient user experience. The updated CRE solution brings the power and flexibility landlords have been enjoying for years to the corporate tenant side of the market.

MRI Software now provides compelling solutions that cover both sides of the commercial real estate relationship: landlords and tenants. This expanded coverage highlights the breadth of real estate solutions from MRI. This growing portfolio of innovative products now includes accounting and property management products for landlords and tenants, long range financial investment models, and an ever-expanding Partner Connect network facilitating best-of-breed software ecosystems

MRI’s Commercial Real Estate solution provides the following benefits:

  • Monitor accounts with alerts so details, such as lease terms and payments, are not missed.
  • Transaction flexibility and automation of complex calculations like percentage rent, breakpoints, lease offsets, and CAM creates a solution that is both powerful, and easily adapts to unique business requirements.
  • Corporate tenants now have more control of their real estate expenses and can manage them as efficiently as possible.

For more information about MRI’s Corporate Real Estate Management, visit www.mrisoftware.com.

About MRI Software
MRI Software LLC is a leading provider of innovative software solutions for the global real estate industry. MRI delivers a comprehensive and truly configurable solution, from property-level management and accounting to the most complex, long-range financial modeling and analytics for both the commercial and multifamily real estate markets. As a leading provider of real estate enterprise software applications and hosted solutions, MRI leverages over 40 years of business experience to develop long-term successful relationships with its clients. Originally founded in Cleveland, Ohio, U.S.A., the company has offices in Toronto, London, Sydney, Singapore, and Hong Kong. For more information please visit www.mrisoftware.com.

GI Partners Completes MRI Software Acquisition

SAN FRANCISCO, June 24, 2015/PRNewswire/ – GI Partners (“GI”), a leading middle market private equity firm, announced that it has completed the previously announced acquisition of MRI Software LLC (“MRI”), a global provider of real estate property and investment management software solutions.

MRI provides innovative software solutions for the global real estate industry. The company offers its clients comprehensive and configurable solutions, from property-level management and accounting to complex, long-range financial modeling and analytics for both the commercial and multifamily real estate markets. Headquartered in Solon, Ohio, MRI has international offices in Toronto, London, Sydney, Singapore, and Hong Kong

Shea & Company, LLC acted as financial advisor for MRI.

About MRI Software
Founded in 1971, MRI offers property management software solutions to the global property management and investment industries. As a leading provider of real estate enterprise software applications and hosted solutions, MRI serves the global multifamily and commercial property industries, helping them improve their bottom line and maximize their returns on their diverse business portfolios. MRI leverages its more than 40 years in business to develop long-term successful relationships with its clients. For more information, please visit https://www.mrisoftware.com.

About GI Partners
Founded in 2001, GI Partners is a leading private investment firm based in San Francisco. The firm currently manages over $11 billion in capital commitments through middle market private equity and select real estate strategies for recognized institutional investors across the globe. GI Partners is active in a number of key sectors, including Technology, Media & Telecommunications, Healthcare, Retail & Leisure, and Financial & Real Estate Services. For more information on GI Partners and its entire portfolio, please visit http://www.gipartners.com.

MRI Software partners with Updater to offer enhanced relocation capabilities

SOLON, Ohio – MRI Software, a global leader in property and investment management solutions, welcomes Updater to its Partner Connect program, offering enhanced resident relocation services through MRI’s Resident Connect and Prospect Connect products.

“This agreement provides MRI Software clients with the opportunity to leverage the innovative Updater resident relocation automation services in MRI’s Resident Connect and Prospect Connect products,” said Brett Moss, Manager of Partner Connect at MRI Software. “MRI clients will be able to offer their residents the ability to update all of their accounts with their new address, contact information, and more when they log into the MRI portal solution.”

This partnership will enable residents to streamline enable residents to streamline the various processes associated with moving, including updating accounts and records, connecting digital services, forwarding mail, sending direct moving announcements, and much more.

“It’s clear that the industry is starting to recognize ‘moving in’ as an opportunity to deliver a great service to residents,” said Ash Bell, Executive Director of Multifamily at Updater. “Thanks to MRI, property managers across the nation will be able to take advantage of this opportunity in an easy-to-implement way.”

For more information about MRI’s solutions, visit https://www.mrisoftware.com.

About MRI Software
MRI Software LLC is a leading provider of innovative software solutions for the global real estate industry. MRI delivers a comprehensive and truly configurable solution, from property-level management and accounting to the most complex, long-range financial modeling and analytics for both the commercial and multifamily real estate markets. As a leading provider of real estate enterprise software applications and hosted solutions, MRI leverages over 40 years of business experience to develop long-term successful relationships with its clients. Originally founded in Cleveland, Ohio, U.S.A., the company has offices in Toronto, London, Sydney, Singapore, and Hong Kong. For more information, please visit https://www.mrisoftware.com.

About Updater
Updater makes moving easier for the 45 million Americans on the move every year. Updater users seamlessly transfer utilities, update accounts and records, forward mail, and much more. Additionally, thousands of relocation professionals (from real estate brokerages to property managers) rely on Updater’s business solutions to save clients and residents hours with a branded and personalized Updater experience. Headquartered in New York City, Updater has raised $10 million from SoftBank Capital, IA Ventures, Commerce Ventures, Second Century Ventures (the strategic investment arm of the National Association of Realtors®), and leading angel investors. For more information about Updater for the Multifamily Industry, please visit http://www.updater.com/solutions/multifamily

Rose Associates Selects MRI Software for Enterprise Solution

SOLON, Ohio-MRI Software, a global leader in property and investment management solutions, was selected by Rose Associates to provide a robust enterprise solution for the New York-based company. A developer and owner of luxury residential properties, Rose is also one of the largest third-party operators in New York City with $30 billion in assets under management.

“MRI Software provides a best-of-breed approach with a diverse group of partners,” said Robert Napolitano, Managing Director of IT at Rose Associates. “We were really impressed with MRI’s new Version X and the flexibility to tailor the solution to the needs of our growing business.”

 

“Our 360 Platform encompasses a wide variety of business lines—from residential development, construction management, property management, leasing, sales, and energy management to retail and commercial leasing and management. Each of these business lines has specific needs and software solutions,” said Napolitano. “Add to this our own back-of-house systems, and we needed a true enterprise solution that would integrate all of the highly specialized tools that help us track and manage all of the diverse aspects of our business. That’s why MRI made the best sense for our organization.”

About MRI Software
MRI Software LLC is a leading provider of innovative software solutions for the global real estate industry. MRI delivers a comprehensive and truly configurable solution, from property-level management and accounting to the most complex, long-range financial modeling and analytics for both the commercial and multifamily real estate markets. As a leading provider of real estate enterprise software applications and hosted solutions, MRI leverages over 40 years of business experience to develop long-term successful relationships with its clients. Originally founded in Cleveland, Ohio, U.S.A., the company has offices in Toronto, London, Sydney, Singapore, and Hong Kong. For more information please visit www.mrisoftware.com.

About Rose Associates, Inc.
Based in New York, Rose Associates is a developer, owner and operator of premium residential properties. From planning a new development to managing day-to-day property operations, the Rose 360 Platform offers a full range of services designed to maximize the value of real estate. The firm oversees more than 26,000 units across New York, with approximately $2 billion in projects under development. Rose is currently transforming the historic skyscraper at 70 Pine Street into a luxury rental property with 644 residential units and 132 extend-stay apartments. For more information, please visit www.rosenyc.com.

MRI Software to Debut New Property Management Software at London Event

SOLON, Ohio – MRI Software, a global leader in property and investment management solutions, will host an event showcasing its new property management software and provide a roadmap on the future of the investment management capabilities acquired from Cougar Software. The meeting will take place on June 18 at TH Real Estate Headquarters in London.

“I am really excited to show off the new activity-based search of MRI’s Version X software,” said Pete Finnerty, Commercial Director, EMEA, MRI Software. “This new approach to using enterprise software has the potential to fundamentally transform the way our clients interact with our platform. Plus, with the inclusion of industry-proven investment management capabilities, MRI can now deliver an end to-end solution from the property management level, through to asset management and on to real estate fund modelling.”

MRI Version X builds upon award-winning property management software that MRI has developed over its 43 years serving the real estate market. The software is designed to provide a faster and more efficient experience for users of property management software in both the commercial and residential markets, while taking advantage of modern browsers and mobile devices.

To find out more about this event, call Pete Finnerty at +44(0)7469-190-487.

For more information about MRI Software visit www.mrisoftware.com.

About MRI Software
MRI Software LLC is a leading provider of innovative software solutions for the global real estate industry. MRI delivers a comprehensive and truly configurable solution, from property-level management and accounting to the most complex, long-range financial modeling and analytics for both the commercial and multifamily real estate markets. As a leading provider of real estate enterprise software applications and hosted solutions, MRI leverages over 40 years of business experience to develop long-term successful relationships with its clients. Originally founded in Cleveland, Ohio, U.S.A., the company has offices in Toronto, London, Sydney, Singapore, and Hong Kong. For more information, please visit www.mrisoftware.com.

MRI Software Version X Now Generally Available

SOLON, Ohio – MRI Software, a global leader in property and investment management solutions, generally released Version X of its software today.

“Version X has been a great success with the customers that migrated as part of the controlled release,” said Brian Zrimsek, Chief Products Officer at MRI Software. “The feedback that we have received from the companies piloting Version X reinforces our belief that this release is going to drive a positive change in the way that property owners and managers interact with their enterprise software.”

Early adopters have proven the implementation methods and procedures designed by MRI deliver a smooth transition for clients migrating to Version X. Current clients on MRI’s award-winning SaaS platform will receive a notice for scheduling their upgrade, which will happen over the remaining months of 2015.

Since the controlled release of Version X in March, MRI has seen a strong market demand for the software, with over 40 customers either using or testing the new product.

“MRI Version X is a game-changer,” said Carolyn Lindeman, Business Solutions Manager at North American Properties. “We love the mobile aspects of the platform and believe that this enterprise software will reduce the time necessary to manage our properties while providing the flexibility we need as our business grows and evolves.”

Ron Herman, Assistant Treasurer and Director of Systems at Goldberg Companies, Inc., said, “After exploring MRI Version X, I would classify GCI as an enthusiastic future adopter; we are already working on a plan to ready our company for this exciting transition. I project that the new Version X will help us to become more flexible and better meet the needs of all stakeholders – prospects, residents, and owners alike. I look forward to continuing to work with MRI as they have always been a strong partner.”

MRI Version X property management software takes the best aspects of online search and shopping websites and applies those user experiences to enterprise software for the real estate market. The goal of Version X is to provide a faster and more intuitive experience for the user so that less time is spent on training and completing routine functions. To explore how MRI Version X can help your growing real estate company, please visit https://www.mrisoftware.com/version_x.

About MRI Software
MRI Software LLC is a leading provider of innovative software solutions for the global real estate industry. MRI delivers a comprehensive and truly configurable solution, from property-level management and accounting to the most complex, long-range financial modeling and analytics for both the commercial and multifamily real estate markets. As a leading provider of real estate enterprise software applications and hosted solutions, MRI leverages over 40 years of business experience to develop long-term successful relationships with its clients. Originally founded in Cleveland, Ohio, U.S.A., the company has offices in Toronto, London, Sydney, Singapore, and Hong Kong. For more information, please visit https://www.mrisoftware.com.

GI Partners to Acquire MRI Software

SAN FRANCISCO, June 3, 2015 /PRNewswire/ — GI Partners (“GI”), a leading middle market private equity firm, announced that it has signed a definitive agreement to acquire MRI Software LLC (“MRI”), a leading global provider of real estate property and investment management software solutions, from Vista Equity Partners (“Vista”).

Upon closing the transaction, GI will assist MRI as it executes a strategic growth plan, which is driven by continued innovation of its flagship property management and accounting solution, expand into new markets with recently acquired Cougar Software, and build exceptional relationships and integrations with a fast growing partner network. GI will work closely with MRI’s experienced senior management team to continue to invest in the business and its dedicated employees, and support this next phase of the company’s growth.

Since its founding in 1971, MRI has been a leading provider of innovative software solutions for the global real estate industry. The company offers its clients comprehensive and configurable solutions, from property-level management and accounting to complex, long-range financial modeling and analytics for both the commercial and multifamily real estate markets. Headquartered in Solon, Ohio, MRI has international offices in Toronto, London, Sydney, Singapore, and Hong Kong.

Travis Pearson, Managing Director of GI Partners said, “GI Partners was drawn to MRI’s unique and leading position in the real estate industry, an end market we know very well. The management team has built a world-class enterprise through both organic growth and the successful integration of several strategic add-on acquisitions over the past four years to further develop its product offerings. In our discussions with the MRI team, we have already identified several significant growth opportunities for the company, including expansion into new geographies and applications, and we look forward to working with Patrick Ghilani and his talented team to capitalize on these opportunities.”

Patrick Ghilani, CEO of MRI, said “MRI is one of the strongest, most dynamic brands in real estate software because of our relentless passion for delivering real value to our clients through exceptional products, services, and relationships. We could not be more pleased to have GI Partners alongside us during these exciting times at MRI. GI’s talented team, real estate experience, and commitment to growth, complement and strengthen the direction we have outlined to our valued clients and partners around the globe. MRI and GI are tightly aligned and committed to ensure that the entire MRI family experiences the success and rewards intended by this transaction. I wanted to thank Vista for being a great partner over the last five years and look forward to forging our new partnership with GI.”

MRI represents the fourth portfolio investment in GI Partners Fund IV, a $2 billion fund raised in 2014.

About MRI
MRI offers property management software solutions to the global property management and investment industries. As a leading provider of real estate enterprise software applications and hosted solutions, MRI serves the global multifamily and commercial property industries, helping them improve their bottom line and maximize their returns on their diverse business portfolios. MRI leverages its more than 40 years in business to develop long-term successful relationships with its clients. For more information, please visit www.mrisoftware.com.

About GI Partners
Founded in 2001, GI Partners is a leading private investment firm based in San Francisco. The firm currently manages over $11 billion in capital commitments through middle market private equity and select real estate strategies for recognized institutional investors across the globe. GI Partners is active in a number of key sectors, including Technology, Media & Telecommunications, Healthcare, Retail & Leisure, and Financial & Real Estate Services. For more information on GI Partners and its entire portfolio, please visit www.gipartners.com.

About Vista Equity Partners:
Vista Equity Partners, a U.S.-based private equity firm with offices in Austin, Chicago and San Francisco, with more than $14 billion in cumulative capital commitments, currently invests in software, data and technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit www.vistaequitypartners.com.

Transwestern Expands MRI Software Commercial Suite with Budgeting & Forecasting

SOLON, Ohio -MRI Software, a global leader in property and investment management solutions, has expanded their reach with Transwestern’s addition of MRI’s Budgeting & Forecasting. Transwestern has already taken advantage of MRI’s trademark flexibility to access and analyze its vast property portfolio and the addition of Budgeting & Forecasting will employ MRI’s complex reporting capabilities to streamline its annual budgeting process.

“Transwestern is committed to utilizing the most cutting-edge technology and programming to create streamlined and robust processes,” said Rita McKenzie, Vice President, Business Systems at Transwestern. “We are excited to use MRI’s Budgeting & Forecasting product for our 2015/2016 budget season and are confident that the expanded capabilities will enable our teams to provide a higher level of service to clients across the country in all service lines.”

MRI Budgeting & Forecasting is part of MRI’s Commercial Management suite and easily integrates with the MRI products already owned by Transwestern. Designed to minimize setup and better facilitate business planning, the Budgeting & Forecasting software also includes a new inflation and speculative lease template functionality to simplify multi-year planning.

For more information about MRI’s solutions visit www.mrisoftware.com.

About MRI Software
MRI Software LLC is a leading provider of innovative software solutions for the global real estate industry. MRI delivers a comprehensive and truly configurable solution, from property-level management and accounting to the most complex, long-range financial modeling and analytics for both the commercial and multifamily real estate markets. As a leading provider of real estate enterprise software applications and hosted solutions, MRI leverages over 40 years of business experience to develop long-term successful relationships with its clients. Originally founded in Cleveland, Ohio, U.S.A., the company has offices in Toronto, London, Sydney, Singapore, and Hong Kong. For more information, please visit www.mrisoftware.com.

About Transwestern
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 38 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit www.transwestern.com.