Two major multifamily REITs have merged and are consolidating portfolio operations on the Yardi Voyager® platform. MAA acquired Post Properties in December 2016 and is converging both companies’ legacy Yardi Voyager systems onto a new single platform. After the merger, MAA is one of the largest public multifamily REITs with ownership interest in over 100,000 units.
According to Joe Fracchia, senior vice president of information systems for MAA,“Both MAA and Post had already selected Yardi as their platform of choice and implemented it for property management and accounting. Now MAA is focused on merging its operations on Voyager and adding more Yardi solutions. With Yardi as our technology partner we will enhance operational efficiency, innovate our infrastructure, facilitate growth and ultimately create more value for shareholders.”
MAA is adding solutions from the Yardi® Multifamily Suite and Yardi® Marketing Suite including RENTCafé® for marketing, prospect and resident portals; RENTCafé® CRM for its mobile lead-to-lease functions; and Yardi® Payment Processing to optimize rent collection and cash flow through online payments. With mobile marketing, leasing and resident services, MAA plans to free up staff time, improve lead conversion, reduce paper and automate deposits to expedite cash flow.
“It is very exciting to watch two major multifamily companies merge into one and choose Yardi to help drive value for shareholders through technology that manages its real estate business needs in one software platform and saves time and money in the process,” said Terri Dowen, senior vice president of sales for Yardi.
MAA (maac.com), an S&P 500 company, is a real estate investment trust focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities throughout the United States. As of December 31, 2016, MAA had ownership interest in 101,509 apartment units, including communities currently in development, across 17 states and the District of Columbia.
Yardi® (yardi.com) 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.