The Secret’s Out—Discover How Leaders Win with Prophia

In a strategic move aimed at strengthening their position in Seattle's vibrant commercial real estate market, Palisade Group and Sabal Investment Holdings have recently acquired two prime office buildings located in the bustling South Lake Union submarket. With a combined price tag of $47.5 million, this milestone transaction signifies a significant growth opportunity for both firms, highlighting their commitment to unlocking value in key urban areas.

After making strategic investments in the 1980s throughout the greater Seattle area, Business Property Development was ready to take their leasing strategy to the next level. Discover how this small and dynamic regional investor successfully adopted AI ahead of leading firms in their market and is redefining the speed-to-leasing in the Pacific Northwest.

Radom Capital is a Houston-based development and management company with a penchant for community-based projects. For the past few years, Radom has been leveraging Prophia's AI to transform important business operations and continue to expand their portfolio throughout the Texas market.

Since its founding in 2005, Chicago-based Harrison Street has built a strong reputation specializing in demographic-driven, alternative real estate assets including the senior housing, student housing, healthcare delivery, life sciences and storage sectors. Today, Prophia supports Harrison Street in the management of more than 20 million square feet of medical office space, spanning over 300 buildings and nearly 1,500 tenants.

After successfully rolling out Prophia across the balance of his assets, Director of the Office Sector at Nuveen, Mark Maheen spearheaded tech adoption throughout the organization. The result, Nuveen has announced an expansion of nearly 10M additional square feet onto Prophia's platform for greater transparency into their portfolio data.

With their entire office and retail portfolio digitized on Prophia, RXR is able to perform complex managerial tasks in a matter of minutes, accessing highly important portfolio variables and cross-referencing key documents with ease. This, in turn, has increased their business intelligence, giving them a discernible competitive edge in the market.

With a very short due diligence window, one of the main challenges the URG investment team faced was how to quickly get their arms around and abstract some 100 tenant leases.

Before FD Stonewater sought a software solution to lease management, their lease data was scattered. Information lived on stagnant Excel files or PDFs and there were different versions for different teams. Accounting systems were used as the source of truth for information that was then verified by members of the firm when tasks and questions arose. 

The complexity of managing and tracking all of the information and document details was an immense challenge for CBRE. Before Prophia, a lot of time was spent with “CTRL+F” as Calvin Bright, Associate Real Estate Manager put it.  Finding and verifying the intricate details of every tenant was a daunting task.

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.

Before The Schuster Group began using Prophia in 2018, the company juggled multiple technologies and systems in order to manage their information, create new leases and provide oversight on properties.  With spreadsheets for every report, lease, and tenant, asset management became cumbersome and overwhelming. Generic shared file systems and accounting software did not generate the right type of information they needed. As a result, they had to review all lease details, data points, and report specifics multiple times to ensure relevancy and accuracy. 

Before adopting Prophia, Spear Street used various static practices to keep track of encumbrances and relied on property managers to send monthly reports. In addition to data found in accounting systems, asset managers updated large internal spreadsheets for rights and options monthly. There was no way to measure accuracy beyond trusting the humans who inputted the data themselves. As a result, asset managers ended up having to both update.