CUSTOMERS ❯ PATRINELY GROUP
Patrinely Group is a national real estate leader with a 38-year history of developing and managing large-scale, Class A properties across diverse asset classes. Committed to innovation, the firm seeks to optimize its operations through cutting-edge solutions.
Photo Courtesy of Patrinely Group, Haliburton Corporate Headquarters, Houston, TX
Houston, TX, 2022 — As a versatile, AI-powered solution, Prophia provides support for multiple roles with in the CRE chain of command, including Property Management. The Property Manager role is multifaceted and challenging. Every asset type or subindustry in Commercial Real Estate is complex and tenants have unique requirements. This can make property management across a diverse portfolio particularly challenging.
For Senior Property Manager, Lauren Crenshaw, and Property Assistant, Susie Coe, Patrinely Group's Property Management team was struggling to get the full picture of their tenants' statuses and needs due to data management challenges. They knew they needed a versatile and thorough tool that could help them tackle their many challenges and optimize operations across the portfolio.
Results Summary: Real-time Insights at Your Fingertips
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Smart Search makes for quick and easy searching for lease terms across documents.
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The stacking plan's future dates and forecasting capabilities makes strategizing for vacancies and other tenant changes easy.
- Tenant timeline allows for quick understanding of tenants who have been in the building for years.
Inaccessible Lease Data Slowed Decision-Making
The property management team at Patrinely Group needs to be in sync with everything happening in and around the property. Everything, from weather conditions, leasing activity, to marketing events, can change things overnight. Balancing all these factors is essential while being in sync with the asset management team on encumbrances and other lease obligation details.
You have to be as familiar with the tenant as possible to have quick answers to questions. The quicker the response the quicker and more accurate your decisions will be.
Lauren Crenshaw, Sr. Property Manager
Prior to Prophia, lease information was stored in a traditional setting which made for a more time-intensive extraction process. Since introducing Prophia to the portfolio, communication and collaboration are more streamlined, and Prophia’s data management capabilities have allowed each team member to focus more on value-add opportunities rather than tedious document review and data extraction.
Prophia's Accuracy Revolutionizes Daily Operations for Property Managers
It didn't take long for Patrinely Group to recognize Prophia's value. Immediately after onboarding, the team became motivated to continue with implementation and integrate Prophia's AI solution into their daily routines.
Features like smart search and the stacking plan transformed their ability to visualize, forecast, and understand the current and future state of tenants. This fundamentally changed the way they shared data with important third-party teams as well as the internal roster of asset managers, leasing admin, and even principals within the organization.
Using the smart search tool, the team has been able to drill down on lease language in great detail and compare across documents and even properties within the portfolio. Leveraging this feature, along with the lease profile, has allowed the team to simply click and find answers to questions rather than dig through lease information.
The stacking plan no longer lives in Excel files but is in one central place accessible by the entire team. When getting to know a new property, the management team no longer has to reach out to lease administration to ask for details about encumbrances and details about the property, since it is all located on the dynamic and real-time stacking plan.
The tenant timeline has proved useful, particularly in the pandemic with lease amendments coming in at a rapid pace. The timeline has allowed the team to easily see how the lease obligations and rent structure has changed over time and cross-reference with accounting to ensure accuracy in systems outside of Prophia.
Collectively with all the features for Patrinely Group, Prophia also proved to be extremely user-friendly, which aided in the quick expansion from an initial test run to their entire portfolio.
“It was so easy to click and see all the information. You stop and say ‘Wow, it’s all here.’”
Susie Coe, Property Assistant
After completing their onboarding and successfully integrating Prophia into their Property Management workflow, Patrinely Group officially joined the ranks of other industry leaders revolutionizing CRE business practices and daily operations. With up-to-date tenant and property data at their fingertips, it was hard to think about managing a building without Prophia.
About Prophia
Commercial Real Estate (CRE) professionals who use Prophia Cloud access critical lease information from anywhere in the world in a centralized, cloud-based platform. Prophia extracts meaningful lease data and dynamically tethers it to source documents, making custom reporting, modeling, exporting, and data reconciliation more advantageous for all CRE executives and acquisitions teams.
