SANTA BARBARA, California, Nov. 12, 2018 /CNW/ -- PIA Group USA has completed a decade-long transformation of its portfolio from single family homes to multifamily properties, relying on Yardi® Matrix for market intelligence to identify and evaluate acquisitions.
PIA initially created its own solution for managing acquisitions. After finding software maintenance a burdensome addition to its core acquisition, remodeling and management activities, the company selected an outside solution. PIA ultimately turned to Yardi Matrix for more sophisticated property-level data than its previous provider could deliver.
"Our first step was identifying the markets we wanted to expand into, which included Florida, Georgia, the Carolinas and Texas. The next step was accessing the comprehensive property-level drilldown that only Yardi Matrix can provide, including senior loan abstracts, lease rents, occupancy, forecasts and expense comp-set data," said Saul Levy, managing partner for PIA. "Deep-dive analysis from Yardi Matrix helps us close deals. Our analysts have been very happy with the platform, and we completed our strategic portfolio migration on schedule."
Yardi Matrix also identifies the true owners of a property, facilitating the process of building a relationship or expanding an existing one when PIA already knows the owner.
"Yardi first helped PIA improve lease execution and resident services with paperless processes and mobile capabilities delivered via solutions from the Yardi® Multifamily Suite. Yardi Matrix takes this relationship to a new level by helping PIA achieve its goal of becoming an institutional-size multifamily property owner," said Jeff Adler, vice president of Yardi Matrix.
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About PIA Group USA
PIA Group USA is a Miami-based private equity real estate investment firm specializing in the acquisition, renovation and management of institutional multifamily properties across the southeastern U.S. PIA owns and manages a portfolio of properties valued at nearly $100 million. For more information, visit piagroupusa.com.
About Yardi Matrix
Yardi® Matrix is the industry's most comprehensive business development and asset management tool for investment professionals, equity investors, lenders and property managers who underwrite and manage real estate investments in multifamily, industrial, office and self storage. Email [email protected], call 480-663-1149 or visit yardimatrix.com to learn more.
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.
For further information: Jeff Adler, Yardi Systems Inc., +1-303-908-5242, [email protected], https://www.yardimatrix.com