Urban Logistics REIT Optimises Lease Document Management with MRI Contract Intelligence

Urban Logistics REIT Optimises Lease Document Management with MRI Contract Intelligence

Urban Logistics REIT, the only London-listed REIT specialising in single let properties in the fast growth ‘last touch’ logistics sub-sector, announces the adoption of MRI Software’s Contract Intelligence, an AI-powered document management system, to enhance and strengthen internal workflow processes across its portfolio. 

Investment in the latest technologies help drive innovation and support improved outcomes for our customers, allowing the team to focus on strategic management and high-value portfolio initiatives. Urban Logistics continuously reviews, refines and improves its internal systems and processes to support excellence in the asset management, finance and operations teams.  

Key drivers for improvement include minimising time spent searching for documents and lease criteria, producing an accurate, up-to-date directory of property documents with specific lease information that can be accessed quickly and the creation of data rooms for potential future transactions. 

Following an extensive evaluation process of comparable solutions, MRI Software’s offering was chosen by Urban Logistics to continue to deliver value to its clients by supporting its asset management and operational efficiency. The MRI management system’s offering includes: 

• An easy-to-use, intuitive user interface which simplifies the adoption process as well as daily operations 
• Advanced AI technology that enhances lease data extraction and reporting 
• A dedicated support team to ensure document accuracy, lessening AI risks  

Richard Moffitt, Director of Urban Logistics, commented:

“The focus of the Urban Logistics team is on the enhancement of the portfolio of approximately 130 properties for our clients and stakeholders, and I’m pleased to have MRI onboard to help us manage our time and resources as efficiently as possible. Whilst still in the early stages of using the product, we have already noticed a significant reduction in time spent locating and analysing documents. A prime example has been the ability to quickly and accurately extract and review environmental clauses across the portfolio, which has become invaluable in tenant discussions and sustainability initiatives.”

 

“The use of AI in the product also means that our teams now have enhanced access to critical lease information, whilst still having the reassurance of MRI’s paralegal team to support them. Through this partnership with MRI, Urban Logistics can continue to focus on delivering value to its clients, using the latest technologies to support asset management and operational efficiency.”

Marcus Scholes, Managing Director for Commercial Property Management Solutions at MRI Software, commented:

“At MRI Software, we are committed to helping real estate businesses unlock efficiencies through smart technology solutions. Urban Logistics’ success with MCI is a testament to the power of AI-driven lease abstraction and document management in reducing administrative burden and driving better decision-making. We look forward to continuing our partnership with them as they continue to drive efficiencies through the business.”

About Urban Logistics REIT

Urban Logistics REIT plc (LON: SHED) is a FTSE 250 property investment company. The Company is the only London listed REIT offering exposure to the specialist last mile / last touch logistics sector, with a single-let tenant base which delivers essential goods within the UK. The Company’s strategy is to invest in mid-sized logistics properties with the objective of generating attractive dividends and capital returns through active asset management and asset recycling to generate significant valuation uplift. 

Urban Logistics’ investment adviser team has significant experience in investing in the fast-growing logistics sub-sector within the broader real estate market. The team’s ability to source important and strategically located mid-sized single let properties, with high-quality tenants, off-market at favourable terms, creates considerable value for shareholders. Tenants include Amazon, XPO, DHL, Evri, DPD, Unipart (for NHS), Royal Mail and J Sainsbury Plc. 

Buying well and pursuing additional value enhancing asset management initiatives has driven the Company’s growth, enabling Urban Logistics to grow from a £10m market cap company at IPO in April 2016 to a FTSE 250 constituent with a portfolio valued at over £1bn. 

Logistics Asset Management LLP acts as investment advisor to G10 Capital Limited which is AIFM and portfolio manager for Urban Logistics REIT PLC. G10 Capital Limited is part of the IQ-EQ Group. Additionally, Logistics Asset Management LLP has been appointed by Urban Logistics REIT PLC to carry out physical asset management. 

Logistics Asset Management LLP is an appointed representative of G10 Capital Limited which is authorised and regulated by the Financial Conduct Authority (FRN:648593).