Leading health food retailer Holland & Barrett has selected MRI Software’s AI-powered platform for the management of its real estate lease portfolio.

With 1,300 stores across the UK, Netherlands, Belgium, China, Hong Kong, India, Saudi Arabia and UAE, Holland & Barrett requires technology to proactively manage international lease requirements and retail complexities. They have opted to move forward with MRI’s connected offering, which is proven across the sector and used by more than 100 retail brands.

The solution leverages the power of machine learning to digitalise lease information, and ensures clean, accurate and reliable data is incorporated into management and reporting processes – including compliance with IFRS 16 lease accounting standards.

Through the MRI Contract Intelligence application, Holland & Barrett can extract, aggregate and cleanse key information buried in hundreds of lease contracts across a variety of languages. The AI-enabled contract repository is then integrated with MRI Horizon, a comprehensive suite of functionality and reporting tools that support specific retail requirements such as retail accounting periods and turnover rent calculations Dashboard insights and sophisticated transaction management workflow also help to inform decision-making and track business processes.

Tom Price, EMEA Sales Manager – Occupier Solutions at MRI Software, said: “I’m delighted to announce the partnership between MRI Software and Holland & Barrett, and to be working with the team to support their strategic objectives. H&B recognises the benefit and criticality of having an end-to-end lease abstraction, lease management and lease accounting solution, with the opportunity to take advantage of other areas of MRI’s comprehensive occupier suite in the future.

“It’s also fantastic that such a reputable organisation has chosen to invest at such an uncertain and challenging time, emphasising the importance and value of a robust platform that delivers short and long-term benefit.”

Stephen Williams, Head of Estates at Holland & Barrett, said: “As our store estate has grown and lease structures become more complex, we have needed a solution to enable us to more efficiently manage our store portfolio. The combination of Contract Intelligence and Horizon provides us with the solution to fully capture all our property and lease information, providing the one version of the truth – and it enables the required detailed business and IFRS16 reporting.”

Learn more about MRI’s powerful AI capabilities for lease abstraction, here.

Close of deal bolsters MRI’s global workplace management offering for real estate owners, operators and occupiers

Solon, Ohio – April 14, 2021 – MRI Software, a global leader in real estate software, announced that it has completed the acquisition of Manhattan, the real estate and workplace solutions business of Trimble (NASDAQ:TRMB). The close of the deal bolsters MRI’s workplace management offering with robust space scheduling, booking and facilities management capabilities, complementing its comprehensive lease accounting and administration solutions for commercial real estate owners, operators and occupiers worldwide.

“We are excited to welcome Manhattan and its powerful range of Integrated Workplace Management System (IWMS) solutions to the MRI family,” says Dermot Briody, MRI’s Senior Vice President of Occupier Solutions. “With many companies rethinking the future of the workplace, flexible technology will be required to manage different ways of working – in some cases, balancing remote, in-office, or hybrid arrangements for employees – to maximize productivity and position the workplace as a driver of future success. MRI is committed to helping our clients keep buildings well-managed, secure and safe for anyone on the property, including landlords, tenants, visitors or service providers. It is more important than ever to offer solutions that promote the benefits of workplace culture and collaboration.”

The Manhattan acquisition extends MRI’s workplace capabilities at a time when many organizations around the world are focusing on returning to the office. As part of MRI, Manhattan clients will gain access to a broader array of applications to manage their lease portfolio, including MRI’s artificial intelligence (AI)-powered lease abstraction technology and comprehensive workplace presence management software offered through its recent acquisition of WhosOnLocation.

“As the COVID-19 pandemic continues to evolve, organizations across the globe see an increased need for agile workplaces and the ability of both owner/operators and corporate occupiers to work together to manage those effectively while ensuring health and safety standards,” Briody adds. “MRI’s recent acquisitions underline our strategy to support everyone involved in commercial property and expand our offering for the global workplace management market.”

In addition to strengthening MRI’s technological footprint, the Manhattan acquisition increases its client base in North America, Europe and Asia Pacific to include more than 3,000 corporate occupiers. Manhattan has employees in the United States, Canada, United Kingdom, India, New Zealand, and Australia. MRI will continue to support Manhattan clients without interruption.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contacts:
(US for MRI)
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

The long-term agreement will provide enhanced resources to support the global real estate firm’s award-winning data management, visualization and analytics platform

NEW YORK (April 8, 2021) – Global real estate services firm Savills today announced that it has expanded its global partnership with MRI Software, a worldwide leader in real estate software.

As part of an extended agreement, Savills will expand its integration of MRI’s artificial intelligence-powered data abstraction tool, MRI Contract Intelligence powered by Leverton AI, to include MRI ProLease, a cloud-based solution for lease administration, lease accounting, lease analysis and workplace management. The integrated capabilities will deliver enhanced real estate management applications to clients utilizing Savills award-winning business intelligence platform Knowledge Cubed.

“Corporate occupiers require access to data historically locked away in leases to effectively manage and reevaluate their portfolios,” said Saurabh Abhyankar, MRI Software’s chief product officer. “The expanded integration of Leverton AI automates and simplifies the complex data extraction process, enabling Savills clients to easily access and analyze data from leases, contracts and legal documents.”

Savills and MRI will leverage a jointly developed data model to accelerate document abstraction and structuring for corporate occupiers. The proprietary machine learning algorithm will allow smaller teams to quickly setup digital applications within Knowledge Cubed and highlight actionable insights to enable better management of real estate portfolios.

“By integrating our algorithm within Knowledge Cubed applications, we are able to provide clients an unparalleled speed and scale advantage that helps analyze portfolios in real time with access to the source documents in one click,” said Patrick McGrath, Savills chief information officer and head of client technologies.

The MRI partnership continues Savills ongoing investment in innovative client technologies and data partnerships. Launched in 2016, Knowledge Cubed brings together key technologies (e.g., machine learning, cloud, IoT, big data, mobile apps, cybersecurity, and digital contracts) to help clients better understand and optimize global real estate and human capital investments.

During the last 12 months, Savills expanded and signed new partnerships with key partners such as Matterport, CoStar, and CompStak to further invest in the best-in-class technology and data platform designed for corporate occupiers.

About Savills Inc.
As one of the world’s leading property advisors, Savills services span the globe, with 39,000 experts working across 600 offices in the Americas, Europe, Asia Pacific, Africa and the Middle East. Sharply skilled and fiercely dedicated, the firm’s integrated teams of consultants and brokers are experts in better real estate. With services in tenant representation, workforce and incentives strategy, workplace strategy and occupant experience, project management, and capital markets, Savills has elevated the potential of workplaces around the corner, and around the world, for 160 years and counting.

For more information, please visit Savills.us and follow us on LinkedIn, Twitter, Instagram and Facebook.

Media Contacts:
(Savills)
Michael A. Lassiter (+1 202 624 8539)
mlassiter@savills.us

(US for MRI)
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

Global PropTech company extends its footprint in ANZ with addition of software for regional property managers and agencies

Auckland, New Zealand – 31 March, 2021 – MRI Software, a global leader in real estate software, announces that it has acquired Palace, New Zealand’s market-leading provider of residential property management solutions. The acquisition extends MRI’s offering and market presence in New Zealand while giving Palace and its clients access to the innovation, scale and partnerships of a well-established industry leader.

“Our acquisition of Palace is part of MRI’s strategic global growth plan and a welcome addition to our Asia-Pacific business,” says David Bowie, MRI Software’s Senior Vice President and Managing Director, Asia-Pacific. “Bringing Palace into the MRI fold enhances our ability to serve the New Zealand market by empowering property managers and agencies with solutions that help them keep pace with local reporting and compliance requirements, including the healthy homes standards.”

Founded in 1999 and with offices in Auckland and Wellington, Palace has over 700 clients who use its solutions to manage more than 150,000 properties. Palace’s extensive partner program, which includes more than 40 partnerships and integrations, will offer expanded flexibility and choice for MRI clients in the region. MRI will continue to support, without interruption, the property managers and agents that use Palace.

Michael Abbott, Palace’s Chief Executive Officer, adds: “Palace and MRI are a great fit. Both companies are firmly committed to an open and connected approach that gives clients the flexibility to integrate the solutions that work best for their business. The deal strengthens MRI’s local expertise, while Palace and its clients gain access to additional property and workplace solutions as well as administrative and financial tools for managing wider property portfolios.”

The deal comes on the heels of MRI’s acquisition of Wellington-based WhosOnLocation, further extending MRI’s presence in New Zealand. Since MRI’s August 2019 acquisition of Rockend, the leading residential property management player in Australia, the company has grown its offering in the ANZ region to cover the full scope of solutions across the residential, commercial, investment and occupier sectors.

Clare Capital, a Wellington-based corporate finance advisory firm, acted as the exclusive financial advisor to Palace.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contacts:
(ANZ for MRI)
Heather Jones (+61 400 394 669)
heather@hjconsulting.com.au

(EMEA for MRI)
Platform Communications
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(US for MRI)
Rachel Antman (+1 212 362 5837)
rachel@saygency.com

PropTech category founder bolsters its workplace management capabilities with addition of integrated set of employee, visitor and contractor management applications

Solon, Ohio – March 4, 2021 – MRI Software, a global leader in real estate software, announces that it has acquired New Zealand-based WhosOnLocation, which provides an integrated solution that empowers organizations to address workplace safety and security needs. An enterprise-class, cloud-based platform with employee, visitor, contractor and emergency management applications, WhosOnLocation extends MRI’s workplace management offering to cover anyone who might have a physical presence on a commercial property, including industries such as manufacturing, services, and education.

“We are excited to welcome WhosOnLocation to the MRI family at a time when ensuring wellbeing and safety in the workplace is more critical than ever,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “The acquisition enhances the comprehensive capabilities of our integrated workplace management solutions to enable the increased business agility organizations need to reimagine their workplaces. WhosOnLocation boosts our ability to support health and security measures, covering both landlords and tenants, as well as the wider community that engages with a property – reducing risk for everyone.”

With the COVID-19 pandemic leading to an increased need for agile workplaces, WhosOnLocation enables organizations to manage presence by tracking who is onsite at a property – or across multiple locations – at any time. The solution brings additional automation and efficiency to workplace safety and security management with arrival notifications, access permissions, emergency and evacuation management, and more. WhosOnLocation’s global client base will benefit from the added resources and innovation that come with being part of a well-established industry leader.

Darren Whittaker-Barnett, WhosOnLocation’s Chief Executive Officer, notes: “MRI offers the scale and global reach we need to accelerate the growth of our business in both our existing markets and new territories. Becoming part of MRI also offers our customers the opportunity to tap into its broad range of innovative workplace management solutions, which enable organizations of all types to more effectively manage their real estate portfolios and meet today’s unique business challenges.”

Used by facilities management teams, property managers and others involved in building operations to manage visitor, employee and service provider presence, WhosOnLocation manages nearly 5,000 facilities for 1,600 customers across 46 countries. Headquartered in Wellington, New Zealand, the company also operates in Australia, the UK, Europe, Canada and the US. MRI will continue to support WhosOnLocation users without interruption.

GrowthPoint Technology Partners, a Silicon Valley-based investment bank, acted as the exclusive financial advisor to WhosOnLocation.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:
(ANZ for MRI)
Fiona Tipping (+61 414 764 762)

(EMEA for MRI)
Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

(US for MRI)
Rachel Antman
+1 212-362-5837
rachel@saygency.com

Global PropTech provider boosts its workplace management offering, enhancing its unique position to serve real estate owners, operators and occupiers

Solon, Ohio – February 17, 2021 – MRI Software, a global leader in real estate software, announces that it has entered into an agreement to acquire Manhattan, the real estate and workplace solutions division of Trimble (NASDAQ:TRMB), based in Sunnyvale, California. The acquisition will extend the range of MRI’s occupier solutions, providing a broader scope of offerings for commercial property owners, operators and tenants worldwide. The transaction is subject to a number of closing conditions and is expected to close in the first half of 2021.

“The world of work has changed fundamentally over the past year, and companies require innovative solutions that enable flexibility for their workplaces and leases,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “The acquisition of Manhattan will bring a well-respected industry leader with a strong heritage into the MRI fold, and our combined workplace management capabilities uniquely position us to serve the needs of owners, operators and tenants across the real estate spectrum.”

The acquisition aligns with the ongoing strategic expansion of MRI’s corporate occupier business, giving clients a 360-degree view of their workplace and simplifying the complexities of managing diverse portfolios. Additionally, the acquisition enhances MRI’s Integrated Workplace Management System (IWMS) offering with robust workplace scheduling and facilities management capabilities, complementing its comprehensive lease accounting and administration offering. Manhattan clients gain access to a broader scope of applications to manage their lease portfolio, including MRI’s artificial intelligence (AI)-powered lease abstraction platform. In addition to strengthening MRI’s technological footprint, the acquisition also bolsters its client base in North America, Europe and Asia Pacific, and the combined company will serve 2,300 corporate occupiers. Manhattan has employees in the United States, United Kingdom, India and Australia.

Suresh Sundaram, General Manager of Trimble Real Estate Solutions, said: “There is a real synergy between Manhattan’s offering and MRI’s occupier solutions that will benefit the clients of both businesses – and indeed any corporate occupier. Manhattan will gain from joining a larger organization committed to investing in innovative real estate technology. Both companies have a tremendous commitment to enabling finance and real estate teams to better manage their lease portfolios while maintaining compliance with global lease accounting standards, including FASB, IASB, and GASB.”

The agreement to acquire Trimble’s real estate division follows the acquisition at the end of January of North Carolina-based AMTdirect, a provider of lease accounting, lease administration and facilities management solutions for corporate occupiers and lessees. Both moves underline MRI’s growth strategy to expand its offerings for the global workplace management market. MRI will continue to support Manhattan clients without interruption.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman
+1 212-362-5837
rachel@saygency.com

(U.K.) Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

Proptech Firm Broadens Market Footprint and Increases Scale of Offerings for Corporate Occupiers

Solon, Ohio – January 27, 2021 – MRI Software, a global leader in real estate technology, has acquired AMTdirect (AMT), a North Carolina-based provider of lease accounting, lease administration and facilities management solutions for corporate occupiers and lessees. Clients across a wide range of industries use AMT’s technology to organize and manage their lease portfolios while ensuring compliance with global lease accounting standards, such as FASB, IASB, and GASB.

“Today’s businesses require technology to adapt to the changing nature of work,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “Commercial tenants must efficiently manage their space to provide a safe, flexible experience for employees, while also strategically managing their leases to maintain compliance with new lease accounting standards.”

The acquisition further reinforces MRI’s commitment to the occupier sector and increases its market presence. MRI’s solutions serve the needs of all parties in a building, covering property owners, operators and tenants. The company now serves approximately 2,000 occupier clients worldwide.

Ghilani adds, “We’re excited to welcome AMTdirect to the MRI family. With this acquisition, we’re further increasing the depth of our offering for corporate tenants, while enabling AMT’s clients to take advantage of solutions that complement lease management, such as lease administration, space management, and AI-powered lease abstraction.”

“We are eager to begin this new chapter,” says Jeff Ralyea, CEO of AMTdirect. “MRI is a pioneer in the industry and has a stellar reputation for innovation. As part of MRI, we can give our clients access to a broader variety of tools that will fuel business growth.”

MRI will continue to support AMT users without interruption.

Kirkland & Ellis served as MRI’s legal advisor. AMTdirect was an investment held by Luminate Capital Partners.

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 gives organisations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(U.S. for MRI)
Rachel Antman
+1 212-362-5837
rachel@saygency.com

(U.K.) Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com

Seasoned software product management executive with deep experience in analytics solutions joins global PropTech leader

Solon, Ohio – November 11, 2020 – MRI Software (“MRI”), a global leader in real estate software solutions, announces the appointment of Saurabh Abhyankar as Chief Product Officer (CPO). In this role, Abhyankar will lead MRI’s global product strategy and drive the continued innovation and evolution of the company’s open and connected software platform for the real estate industry.

Abhyankar has a strong track record over the last 15 years of inventing and bringing new products to market, building and leading product management teams, and driving revenue and adoption. He was most recently at MicroStrategy, holding a number of leadership positions including Chief Product Officer and SVP of Product Management, managing a broad portfolio of analytics products. Previously, he held senior product management leadership roles at SAP, where he worked in the Paris office for 12 years.

“I’m very excited to welcome Saurabh to MRI’s executive team during a time when the strength of our global solutions and our growth are at record levels,” said Patrick Ghilani, CEO of MRI Software. “I’m confident that he will accelerate our industry-leading innovation and interoperability while bringing a renewed focus on easier access and use of smart data. Saurabh brings a strong multinational view, creativity with discipline, and an extremely user-centric mentality that our clients will quickly see in our go-forward product approach.”

Abhyankar added: “Ultimately, technology holds the potential to enrich people’s lives and make the communities in which we all live, work and play smarter and more efficient. By applying innovations in data analytics to MRI’s open and connected platform, we have the opportunity to help our clients around the world improve the financial performance of their business and create more value from their real estate assets.”

The announcement of Abhyankar’s appointment comes on the back of the MRI ‘Ascend Anywhere’ 2020 virtual users conference in October, when the company unveiled a number of key solution innovations and enhancements that empower its clients to transform the way communities live, work and play.

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 gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.

MEDIA CONTACTS:

(US for MRI)
Rachel Antman (+1 212-362-5837)
rachel@saygency.com

(UK) Platform Communications for MRI
Hugh Filman (+44 7905 044850)
or Zoe Mumba (+44 7725 832393)
mri@platformcomms.com