CUSTOMERS ❯ FD STONEWATER
FD Stonewater is a national, boutique real estate firm specializing in brokerage, development, investment, and asset management. With emphasis on thoughtful and creative leadership for over 30 years, they boast $10B in investments and over 45 million square feet managed.
FD Stonwater, and Principal and Head of Asset Management, Owen Burke, have always held a commitment to doing things better. And it all started in 2003 when FD was actually two separate entities: FD Partners and Stonewater Partners. After the two firms merged in 2011, FD Stonewater successfully brokered a number of notable deals in the past 10 years and made a concerted effort to invest in technology to manage their expanding portfolio.
However, amidst this growth, the leadership team was aware of inefficiencies the firm was experiencing around knowledge-sharing and managing their complex lease data. Find out how FD Stonewater leadership worked closely with the Prophia team to centralize contractual data and improve business intelligence.
Results Summary: Portfolio-wide Data Accuracy Leads to More Informed Decision-making
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The dynamic stacking plan makes for easy future-proofing for asset occupancy and strategy.
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Lease summaries to see the transparency of data between source documents and abstracts.
- Portfolio Reports allow users to drill down into specific details about financials, risk exposure, and operations.
Challenge: No Centralized Lease Management Platform
Before FD Stonewater sought a software solution to manage lease data, tenant contracts were scattered. Information lived on disparate Excel files or PDFs and different teams were constantly working off of different versions of that data. What's more, accounting systems were used as the source of truth for information, and data verification took place in fits and starts, creating organization-wide confusion.
Even though FD Stonewater as an organization is not new to adopting technologies, effectively managing lease data remained an elusive, missing link. With rising market challenges and decentralized lease management, executives need to find an accurate and accessible solution that would finally put an end to sparse data verification and the hours of manually digging through files.
FD Stonewater tested Prophia on a recently acquired office property. It quickly became clear the product was more accurate and user friendly than other solutions. When asked about what resonated with the team during testing Burke said:
“What really jumped out was the tethering of information to source documents. This cuts through other data structures and gets you right where the data comes from, which makes you feel much better about the data being correct.”
— Owen Burke
Seeing how quickly the firm could onboard the new property and prove usefulness across functional teams, FD Stonewater quickly expanded Prophia portfolio-wide and it is now their most used platform.
FD Stonewater Implements Systemic Portfolio Intelligence
Now with Prophia, FD Stonewater employees at all management levels dive into Lease Summaries and Reports on a daily basis. With Lease Summaries, the constant dig through files no longer exists. Having the rights and options as well as lease expirations in one organized location with links to the source document has been critical for relaying information internally and business planning. 
FD Stonewater uses Prophia during weekly calls with leasing and property management teams. Interactive and dynamic stacking plans make for easier and more informative communication now that all the data is in one place. Interactively moving suites and tenants around allows for future planning for the asset and is a central part of decision-making for the team. Whenever there are questions, it is easy to just click on a ROFO and see the language in the source document with the click of a button versus digging through files or reaching out to analysts.
Portfolio Reports have had a standout impact on how FD Stonewater responds to pandemic-related business activities. They can run reports on lease provisions like indemnity, insurance information, and electricity provisions across an asset or portfolio quickly. This agility has made adapting to rapidly changing market conditions more seamless, making FD Stonewater more agile when responding to tenant requests and issues.
